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  • BOI, AGF sign $50m portfolio to scale women SMEs

    BOI, AGF sign $50m portfolio to scale women SMEs

    • AfDB, Italian agency sign $6b deal

    In order to boost women owned Small and Medium Enterprises (SMEs) and by extension reduce unemployment in Nigeria, the Bank of Industry has secured a $50 million loan portfolio from the African Guarantee Fund (AGF).

    The BOI-AGF deal came as the African Development Bank (AfDB) and the Italian government under the “Mattei Plan” signed a $6b investment deal to sustain the development of initiatives with Africa’s public and private sectors.

    The $6 billion deal gives additional opportunities for Italian businesses in education, agribusiness, healthcare, energy, water and digital economy infrastructure and will provide credit protection to foster investment in Africa.

    The AGF is a specialized guarantee provider whose mission is to facilitate economic development and poverty reduction in Africa through increas access to finance for SMEs across key economic sectors through an array of guarantee products and capacity development assistance.

    The innovative guarantee framework agreement is backed by the African Development Bank’s (AfDB) Affirmative Finance Action for Women in Africa (AFAWA) initiative.

    The transaction will be phased out in three tranches over a 10-year period and will significantly scale up BOI’s lending to Small and Medium Enterprises (SMEs) in the country.

    The partnership includes a comprehensive risk sharing mechanism that focuses on supporting MSMEs, Women-Owned enterprises and Green businesses to promote environmental sustainability and gender equity.

    Signing the facility at the ongoing Africa Investment Forum (AIF) in Rabat, Morocco on Thursday afternoon, the Managing Director and Chief Executive Officer of BOI, Dr. Olasupo Olusi said it would propel the country’s industrial sector by providing financial and business support services to enterprises.

    “Today, we signify a collaboration that promises to drive inclusive growth, innovation and sustainable development. With this portfolio guarantee of up to 50 million dollars, we are unlocking unprecedented opportunities for these enterprises that represent a resilient, inclusive and sustainable economic future for our great nation, Nigeria.

    “As you can imagine, MSMEs form the backbone of our economy and it is very important for our country to encourage them, to continue to support them, to make them create jobs and to support the long-term growth of the Nigerian economy.

    “Through AfDB’s support, BOI will deepen its commitment to reasonable prices, providing them with resources to scale their operations, innovate for impact and expand with new markets.

    “By prioritising women-owned businesses and environmentally sustainable enterprises, we are saying that women must not just participate in Nigeria’s economic history, they must lead it. We are saying that sustainable, climate-conscious practises are not functional, but they are imperative.

    Read Also: Senator quizzes BoI on $300m fund

    “This partnership also aligns strategic investment with the BOI’s vision to attract industrial transformation and our vision to keep Nigeria into a future defined by opportunity, legitimacy and resilience.

    “Over the past decade, BOI has disbursed over 1.6 trillion Naira in loans, supported millions of MSMEs and created millions of jobs. These agreements with AfDB are the first of the past decade to go further…

    “The lives it will touch, the businesses it will empower, and the legacy it will leave. And for us in Nigeria, that is very important because it aligns well with the vision of  investment, energy power and opportunity.

    “Let us also commit to ensuring that the impact of this partnership which resonates beyond discourse, brings new climate and transatlantic prosperity for the continent.

    “The road ahead is long, but it’s worth the wait. I’m delighted to have played your games. Together, we will ensure that the seeds of opportunity sown here today, grow to harvest prosperity in Nigeria,” he said.

    Dr. Olusi assured that the loan would be effectively disbursed and monitored through BOI’s robust system, adding that a lot of women owned businesses would benefit, adding that the initiative aligns with the Renewed Hope agenda of President Bola Tinubu’s administration.

    Expressing hope that the target population would effectively utilize and repay the loan in due time, Olusi said: “There are a number of women enterprises in Nigeria, and there are partnerships. Recently, we signed the Wi-Fi Code in partnership with the Central Bank of Nigeria and the Development Bank of Nigeria to compete to finance women enterprises.

    “This agreement or partnership with the AGF will enhance the capacity to deliver much-needed credits to women-owned institutions and businesses in the country. We are looking forward to the partnership.

    “There’s quite a lot of women who are out there and women-owned enterprises that are really looking forward to getting the support of the Bank of Industry to scale their operations and also to create jobs.

    “And this is critical for our economy, as you can imagine.

    Now, something that is important to say is that, you know, women are very efficient when it comes to the repayment of loans. This is a very well-established fact and so we’re very particular about supporting them.

    “We’ve seen many of the loans fully dedicated to women are well-managed, and they are paid on time and we believe that, you know, this agreement (1:20) that we’re going to be working on will be a major boost for women-owned enterprises,” he explained.

    Earlier, the Chief Executive Officer, AGF Group, Jules Ngankam, described the transaction as a great milestone that would impact Nigeria’s economy by unlocking up to USD 100 million in financing for SMEs.

    He said the AGF will also provide tailored guarantees and technical assistance towards the special SME products offered by BOI, targeting Women, Youth and Green Businesses.

    Also, the Vice President, Agriculture, Human and Social Development for the AfDB, Dr. Beth Dunford, said: “This strategic partnership illustrates the commitment of the African Development Bank, especially the Affirmative Finance Action for Women in Africa (AFAWA) initiative, to empower women entrepreneurs and foster economic growth in Nigeria.

    “It is not just a financial transaction aimed at supporting and catalysing the growth of small and medium enterprises in Nigeria; it is a beacon of hope and progress for African businesses, particularly for those led and owned by women.”

    This agreement signifies the start of a long-term strategic relationship, and it provides a perfect intersection of the AGF’s mission to unlock financing for SMEs, and BOI’s mandate to catalyse Nigeria’s industrialization and economic transformation.

    Speaking at the official signing of the agreement between the Italian Export Credit Agency, SACE and AfDB Group at the ongoing Africa Investment Forum in Rabat, Morocco, SACE’s Chief International Business Officer, Michal Ron, said: “Africa represents a market of great potential for our companies, and our collaboration under the “Mattei Plan” will strengthen their positioning in key sectors for the continent’s development.

    “In particular, we are already identifying new business opportunities where SACE can make a difference thanks to the Push Strategy, a financial instrument that, through guarantees, connects African buyers with Italian SMEs, involving them in strategic projects related to infrastructure, agribusiness, healthcare, energy, and education: priority sectors where Made in Italy, with SACE’s support, can offer a significant contribution.”

    Giving more insights, Ron said that the first €3 billion of the plan were under their management and derived from the Italian Climate Fund.

    “It is a €4.2B fund created a couple of years ago to help our partners transition their economy into a greener one.”

    The Nation reports that the $6b “Mattei Plan” is a special purpose vehicle designed to support businesses and the national economic system under the Italian Ministry of Economy and Finance. The agreement with the AfDB will foster investment in the continent with priority given to

    Algeria, the Republic of Congo, Egypt, Ethiopia, Ivory Coast, Kenya, Morocco, Mozambique, and Tunisia.

    It aims at bolstering economic links and creating an energy hub for Europe in Africa while curbing emigration of Africans to the European continent, was  unveiled earlier this year by the Italian Prime Minister, Georgia Meloni.

    AfDB’s Vice President for Finance and Chief Financial Officer, Hassatou N’Sele, who signed on behalf of the bank, said contrary to the perceived high risk in investing in Africa, the continent offers a wealth of opportunities with lower risks

    She said: “While there is often a perceived risk in investing in the continent, the reality is that Africa offers a wealth of opportunities with actual risk lower than the perception, particularly in key sectors such as education, agribusiness, healthcare, energy, and infrastructure.

    “The African Development Bank Group is committed to deepening our partnerships with institutions like SACE to expand financing and de-risking solutions for critical projects across Africa. Through collaborations like the ‘Mattei Plan’, in partnership with SACE, we aim to unlock these opportunities and ensure that Africa’s vast potential is fully realized.”

    The Italian Government and the African Development Bank Group have planned a series of joint initiatives to support the implementation of the Mattei Plan.

    This initiative establishes synergies between SACE’s products, such as the Push Strategy as an untied export credit product, traditional export credit insurance, and the financial products offered by the African Development Bank Group.

    It will support the financing of high impact projects in Africa, while jointly generating opportunities for business matching between African and Italian companies.

  • BOI, AGF sign $50m portfolio to scale women SMEs

    BOI, AGF sign $50m portfolio to scale women SMEs

    To boost women-owned Small and Medium Enterprises (SMEs) and by extension reduce unemployment in Nigeria, the Bank of Industry has secured a $50 million loan portfolio from the African Guarantee Fund (AGF).

    The AGF is a specialised guarantee provider whose mission is to facilitate economic development and poverty reduction in Africa through increased access to finance for SMEs across key economic sectors through an array of guarantee products and capacity development assistance. 

    The innovative guarantee framework agreement is backed by the African Development Bank’s (AfDB) Affirmative Finance Action for Women in Africa (AFAWA) initiative.

    The transaction will be phased out in three tranches over 10 years and will significantly scale up BOI’s lending to Small and Medium Enterprises (SMEs) in the country.

    The partnership includes a comprehensive risk-sharing mechanism that focuses on supporting MSMEs, Women-Owned enterprises and Green businesses to promote environmental sustainability and gender equity. 

    Signing the facility at the ongoing Africa Investment Forum (AIF) in Rabat, Morocco on Thursday afternoon, the Managing Director and Chief Executive Officer of BOI, Dr. Olasupo Olusi said it would propel the country’s industrial sector by providing financial and business support services to enterprises.

    “Today, we signify a collaboration that promises to drive inclusive growth, innovation and sustainable development. With this portfolio guarantee of up to 50 million dollars, we are unlocking unprecedented opportunities for these enterprises that represent a resilient, inclusive and sustainable economic future for our great nation, Nigeria. 

    “As you can imagine, MSMEs form the backbone of our economy and it is very important for our country to encourage them, to continue to support them, to make them create jobs and to support the long-term growth of the Nigerian economy.

    “Through AfDB’s support, BOI will deepen its commitment to reasonable prices, providing them with resources to scale their operations, innovate for impact and expand with new markets. 

    “By prioritising women-owned businesses and environmentally sustainable enterprises, we are saying that women must not just participate in Nigeria’s economic history, they must lead it. We are saying that sustainable, climate-conscious practices are not functional, but they are imperative.

    “This partnership also aligns strategic investment with the BOI’s vision to attract industrial transformation and our vision to keep Nigeria into a future defined by opportunity, legitimacy, and resilience. 

    “Over the past decade, BOI has disbursed over 1.6 trillion Naira in loans, supported millions of MSMEs, and created millions of jobs. These agreements with AfDB are the first of the past decade to go further…

    “The lives it will touch, the businesses it will empower, and the legacy it will leave. For us in Nigeria, that is very important because it aligns well with the vision of investment, energy power,r and opportunity. 

    “Let us also commit to ensuring that the impact of this partnership which resonates beyond discourse, brings new climate and transatlantic prosperity for the continent.

    “The road ahead is long, but it’s worth the wait. I’m delighted to have played your games. Together, we will ensure that the seeds of opportunity sown here today, grow to harvest prosperity in Nigeria,” he said.

    Dr. Olusi assured that the loan would be effectively disbursed and monitored through BOI’s robust system, adding that a lot of women-owned businesses would benefit, adding that the initiative aligns with the Renewed Hope agenda of President Bola Tinubu’s administration.

    Expressing hope that the target population would effectively utilize and repay the loan in due time, Olusi said: “There are a number of women enterprises in Nigeria, and there are partnerships. Recently, we signed the Wi-Fi Code in partnership with the Central Bank of Nigeria and the Development Bank of Nigeria to compete to finance women’s enterprises.

    “This agreement or partnership with the AGF will enhance the capacity to deliver much-needed credits to women-owned institutions and businesses in the country. We are looking forward to the partnership. 

    “There’s quite a lot of women who are out there and women-owned enterprises that are looking forward to getting the support of the Bank of Industry to scale their operations and also to create jobs.

    “And this is critical for our economy, as you can imagine.

    Now, something that is important to say is that you know, women are very efficient when it comes to the repayment of loans. This is a very well-established fact and so we’re very particular about supporting them.

    “We’ve seen many of the loans fully dedicated to women are well-managed, and they are paid on time and we believe that, you know, this agreement (1:20) that we’re going to be working on will be a major boost for women-owned enterprises,” he explained.

    Earlier, the Chief Executive Officer, AGF Group, Jules Ngankam, described the transaction as a great milestone that would impact Nigeria’s economy by unlocking up to USD 100 million in financing for SMEs.

    He said the AGF will also provide tailored guarantees and technical assistance towards the special SME products offered by BOI, targeting Women, Youth, and Green Businesses.

    Also, the Vice President, Agriculture, Human and Social Development for the AfDB, Dr. Beth Dunford, said: “This strategic partnership illustrates the commitment of the African Development Bank, especially the Affirmative Finance Action for Women in Africa (AFAWA) initiative, to empower women entrepreneurs and foster economic growth in Nigeria. 

    “It is not just a financial transaction aimed at supporting and catalysing the growth of small and medium enterprises in Nigeria; it is a beacon of hope and progress for African businesses, particularly for those led and owned by women.”

    This agreement signifies the start of a long-term strategic relationship, and it provides a perfect intersection of the AGF’s mission to unlock financing for SMEs, and BOI’s mandate to catalyse Nigeria’s industrialization and economic transformation.

  • Kano protest: AGF intervenes, takes over case file from police

    Kano protest: AGF intervenes, takes over case file from police

    • Four teens collapse at arraignment over alleged treason
    • 118 defendants granted N10m bail with two sureties

    Attorney General of the Federation and Justice Minister Lateef Fagbemi (SAN) announced last night that he had asked  from the police the case file of the #EndBadGovernance protesters who were arraigned earlier in the day.

    Four teenagers among the 118 people  arraigned  before a Federal High Court in Abuja in connection with the protest collapsed a few minutes after the commencement of proceedings.

    They were accused of treason following their  arrest during the August 1 to August 10 #EndBadGovernance protests.

    The arraignment of the teenagers in particular drew wide criticism from many quarters yesterday.

    Reacting to the criticism Fagbemi said in a statement that  he had directed that the case file be transferred to his office by the police.

    He said:“It has just come to my notice that the police have arraigned those arrested in connection with the end bad governance violent protest in court for various offences including treason. There are some issues my office will need to look into regarding the matter to enable me take an informed decision.

    “I am aware that the court has remanded the defendants in detention centres and adjourned the case to January. It is not within my power to vary the order of the court remanding the defendants in detention centres and adjourning the case to January.

    “I have, however, directed the Nigeria Police to transfer the case file to my office and hand over same to the Director of Public Prosecution of the Federation (DPPF) tomorrow, Saturday 2nd November, 2024.

    “I have further directed the DPPF to immediately put machinery in motion for consideration of the court to bring the adjournment date forward (an earlier date).”

    Four teens collapse in court

    All the 118 accused persons  appeared before Justice  Obiora Egwuatu.

    They were alleged to have participated in the last #EndBadGovernance protest in Kano State, chanting  anti-government slogans, calling  for unlawful change of government through military intervention and carrying foreign flags.

    According to one of the defence lawyers, Marshall Abubakar, the accused persons  were charged in two batches of 76 and 43.

    Shortly after the first batch were called, the defendants started mounting the dock. Suddenly,  some  of them fell down, causing confusion in the court.  The development prompted the judge to suspend proceedings.

    Health officials from the court’s clinic were immediately invited to attend to those who collapsed.

    Abubakar blamed the development on hunger and ill-health on the part of the defendants.

    He said: “All these young children are sick and hungry. They have been kept in police custody for weeks without food and proper medical care. They are sick and need proper attention. That is the cause of these unfortunate developments.”

     After the defendants were attended to and they regained strength, proceedings resumed, following which the prosecuting lawyer, Audi Garba applied that the names of the four that suffered ill-health, should be excluded from the charge.

    Defence lawyers, including Abubakar, did not object, following which Justice Egwuatu struck out their names from the first charge marked: FHC/ABJ/CR/503/2024, containing names of 76 defendants.

    The remaining 72 defendants pleaded not guilty when the 10 counts in the charge were read to them.

    Abubakar moved the defendants’ bail application, against which the prosecution did not file a counter affidavit.

    Ruling, Justice Egwuatu noted that the prosecution did not counter the defendants’ assurances that they would be available for trial and would not tamper with witnesses nor jump bail if granted.

    The judge also noted that some of the defendants were young children below the age of 18 years.

    He then granted bail to each of the defendants at N10million with two sureties, one of which must be a federal civil servant from level 15, while the second should be either of each defendants’ parents or a sibling.

    He adjourned till January 24, 2025 for the commencement of trial.

    On the second charge, marked: FHC/ABJ/CR/527/2024, 42 defendants, out of the 43 listed on the charge, were eventually arraigned yesterday.

    They were accused of committing similar offences in Kaduna during the protest.

    Before their arraignment, the prosecuting lawyer applied that one of the 43 defendants suffered ill-health and should be excluded from the proceedings, following which the judge struck out the name from the charge.

    The remaining 42 pleaded not guilty to the charge and were also granted bail on similar conditions as the earlier ones.

    In some of the counts in the charge: they defendants were alleged to have, “while acting in concert with drew Martin Wynne (aka Andrew Povich) a British Citizen, with intent to destabilise Nigeria, levied war against the state in order to intimidate or overawe the President by attacking and injuring police officers and burning police stations, High Court complex, NCC Complex, Kano Printing Press, Government House Kano, Kaduna Investment and Promotions Agency office, NURTW office and several other buildings thereby committed an offence contrary to Section 410 of the Penal Code (Northern States)  Federal Provisions Act CAP P3 LFN 2004

    *While acting in cert with Andrew Martin Wynne (aka Andrew Povich) a British citizen with intent destabilize Nigeria, incited to mutiny by calling on the military to take over government  from President Bola Ahmed Tinubu by chanting ‘Tinubu most go’ ‘soja muskeso’ (meaning Tinubu must go), ‘it is military we want’, while rioting and disturbing public  peace and thereby committed an offence contrary to section 413 of the Penal Code (Northern States) Federal Provisions Act CAP P3 LFN 2004.

    *Between 1st August, 2024 to 10th August 2024 in FCT, Jos, Kano, Kaduna, Gombe, Katsina and many other states, while acting in concert with Andrew Martin Wynne (aka Andrew Povich) a British citizen, with intent to destabilize Nigeria, incited disaffection to the government by inciting public disturbance while carrying placards the inscription ‘end bad government’ and several other inscriptions to incite disaffection to the government and thereby committed an offence contrary to ion 416 of the Penal Code (Northern States) Federal Provisions Act CAP P3 LFN

    Read Also: HEDA urges AGF to recover over $55b from IOCs

    *With intent to break down law and order in the above states, inciting the Nigeria Military, the Russian government, and other western countries to topple the democratically elected President of the Federal Republic of Nigeria, His Excellency President Bola. Ahmad Tinubu government and other state governors using Russian flags and other flags of other countries in violent protest against law and order, that Nigeria is not safe, and calling for the suspension of democracy in the Federal Republic of Nigeria.

    Senator  demands  probe of  underaged  protesters’ detention, prosecution

    The Chairman, Senate Committee on Finance, Senator Sani Musa, asked  Police Inspector General Kayode Egbetokun, to investigate what he called  inhuman detention and prosecution of some minors who were alleged to have participated in the #EndBadGovernance protests.

    Sani Musa, who represents Niger East Senatorial District, strongly condemned the detention of the minors and urged the NJC to probe the decision of the Judge who presided over their case.

    “It is deeply troubling that, despite the hardships and challenges these young children have endured, there is a push to have them imprisoned rather than afforded compassion and understanding. Such actions are not only inhumane but also unjust,” he said.

    He also  condemned the judicial stance advocating the continued detention of the minors, which is entirely unacceptable and contrary to the principles of justice and fairness.

  • Dismiss 19 states’ case against EFCC, AGF tells Supreme Court

    Dismiss 19 states’ case against EFCC, AGF tells Supreme Court

    • Setting up of anti-graft agencies lawful

    • Anambra, Adamawa, Ebonyi opt out

    Attorney-General of the Federation (AGF) Lateef Fagbemi (SAN) has faulted the suit filed by 19 states challenging the constitutionality of the laws establishing the anti-corruption agencies.

    The Supreme Court reserved judgment in the suit yesterday.

    In a counter-affidavit to the suit filed by the governors, the AGF argued that the National Assembly validly enacted the laws establishing the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Nigerian Financial Intelligence Unit (NFIU).

    The AGF urged the Supreme Court to dismiss the suit because issues raised by the plaintiffs had already been resolved by the appellate courts.

    Fagbemi also argued, in a notice of preliminary objection, that the Supreme Court lacked the jurisdiction to hear the case because the plaintiffs’ grievance is what only the Federal High Court could adjudicate on.

    He argued that the complaints of the plaintiffs are against the Federal Government of Nigeria and its anti-corruption agencies, but not against the Federal Republic of Nigeria to warrant the invocation of the apex court’s jurisdiction.

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    In the counter affidavit deposed to by an official of the Federal Ministry of Justice, the AGF, who is the sole defendant, said all the facts deposed to by the plaintiffs in the affidavit in support of the amended originating summons are false, misleading and do not reflect the correct position in relation to the subject matter of this suit.

    The deponent stated: “The plaintiffs’ suit, challenges all the anti-corruption laws/statutes in Nigeria and in particular the NFIU guidelines issued on the 23rd of January, 2023 to strengthen the fight against money laundering, terrorism and related matters.

    “The NIFU Guidelines was issued by the Nigerian Financial Intelligence Unit (NFIU) pursuant to its powers under Section 23(2), 3(s) & 1(d) of the NFIU Act, 2018 to combat money laundering, terrorism financing and proliferation financing.

    “The Guidelines was necessitated by the result of analysis by the unit (NFIU) on the negative impact of cash flow from public accounts on the discharge of its mandate of combating money laundering, terrorism financing and proliferation financing.

    “The National Assembly exercises its legislative powers under the Nigerian Constitution with regards to corruption and abuse of office and upon any convention or treaty.

    “There is no need to seek the concurrence of sub-national whereas (in this case) the National Assembly is acting pursuant to its legislative powers under the Constitution.

    “The National Assembly does not need the ratification or concurrence of the plaintiffs’ Houses of Assembly to pass the EFCC Act, ICPC Act, NFIU Act, the Proceed of Crime (Recovery and Management) or any anti-corruption Act or statute into Law.

    “EFCC Act, ICPC Act, and NFIU Act are enforceable against any person in Nigeria, including the officials of the plaintiffs and those of Local Government Councils.

    “The EFCC and ICPC have recovered several misappropriated funds and property of the states and have returned same to those component states.”

    The AGF said he was vested with powers to prosecute any person, including the officials of the plaintiffs if an investigation reveals that the person committed an economic crime.

    He added: “The investigation to expose the commission of economic crime by EFCC, ICPC and the NFIU is not an interference with the powers of the plaintiffs’ government or the state House of Assembly.

    “The NFIU Act not only empowers NFIU to make Guidelines but also to strengthen existing measures of combating money laundering, terrorism financing and proliferation financing (AML/CFT/CPF) which is the intendment of the guidelines;

    “The issue surrounding the powers of the NFIU to make Guidelines affecting the States has been finally determined by the Court of Appeal in the judgment in Appeal No: CA/ABJ/CV/822/2022 delivered on the 21st day of May 2024, in a suit instituted by the plaintiffs and other states of the Federation wherein they challenged similar Guidelines before the Federal High Court in suit No: FHC/ABJ/CS/563/2019 and lost.

    “The Court of Appeal affirmed the decision of the trial Federal High Court against all the plaintiffs in that suit, including these present plaintiffs, who have not appealed further.

    “The decision of the Court of Appeal is binding on all persons and authorities, including the instant plaintiffs.

    “The NFIU Guidelines was issued to the reporting entities, that is financial institutions for compliance. Reference to the tiers of government and other public officials is merely for their attention and noting.

    “The claims by the plaintiffs are not in conformity with the principles behind the guidelines initiated by the NFIU aimed at curbing corruption and the menace of Money Laundering/Terrorism Financing in Nigeria and also to bring more transparency in every sector of the Nigerian economy in line with global best practices.”

    Supreme Court reserves judgment

    The Supreme Court reserved judgment on the suit by 19 states.

    The other states joined as plaintiffs are Kebbi, Katsina, Sokoto, Jigawa, Enugu, Oyo, Benue, Plateau, Cross River, Ondo, Niger, Edo, Bauchi, Imo, Osun, Nasarawa, Ogun, Taraba.

    The suit, numbered SC/CV/178/2023, was originally filed by the Kogi State Attorney-General.

    Anambra, Adamawa and Ebonyi withdrew during yesterday’s proceedings.

    A seven-member panel of the Supreme Court, presided over by Justice Uwani Abba-Aji, adjudicated on the case.

    Kogi’s lawyer, Mohammed Abdulwahab (SAN), said the crux of the case was the Supreme Court decision in the case of Dr. Joseph Nwobike vs the Federal Republic of Nigeria.

    Abdulwahab argued that, by Order 4 of the Rules of the Supreme Court, the lawyer who appeared for Nwobike should be invited to address the court.

    He added that the lawyer participated in the Bill that resulted in the establishment of the EFCC and the ICPC.

    Justice Abba-Aji asked Abdulwahab the name of the lawyer.

    Abdulwahab said: “Chief Kanu Agabi (SAN) told this court that it was the Convention of the UN that reduced this into law. The provision in Section 12 was never followed.

    “We are challenging the foundation of those laws that created NIFU, EFCC, etc in order not to create a constitutional crisis.

    “We urge you to allow our suit and award heavy cost in favour of the plaintiff on record.”

    Tijani Gazali (SAN), who represented the AGF, urged the court to strike out the suit.

    “We apply that the matter be struck out for want of diligent prosecution, my Lords,” he said.

    The states contended that the Supreme Court, in the Nwobike case, had held that it was a United Nations Convention against corruption that was reduced into the EFCC Establishment Act and that in enacting the law in 2004, the provision of Section 12 of the 1999 Constitution was not followed.

    The plaintiffs argued that the requirement is that the majority of the Houses of Assembly must first agree the convention be adopted before the EFCC Act could be validly enacted.

    They said that the EFCC Act could not be applied to states that never approved of it in line with the provisions of the Constitution.

    The states contended that any institution formed based on the adoption of the UN Convention, without compliance with Section 12 of the Constitution, should be regarded as an illegal institution.

    Two of the reliefs being sought in the suit originally filed by Kogi State are:

    • A declaration that the Federal Government of Nigeria through the NFIU or any agency of the Federal Government lacks the power to issue any directive, guideline, advisory or any instrument howsoever called for the administration and management of funds belonging to Kogi State of Nigeria or any Local Government Area of Kogi State.

    • A declaration that the EFCC, the NFIU or any agency of the Federal Government of Nigeria cannot investigate, requisition documents, invite and or arrest anyone with respect to offences arising from or touching on the administration and management of funds belonging to Kogi State of Nigeria or any local government area of Kogi State.

    There were 16 states when the case came up on October 8.

    Other states later joined as plaintiffs before Anambra, Adamawa and Ebonyi withdrew, leaving 19.

  • AGF issues guidelines for exclusion of university research grants from TSA

    AGF issues guidelines for exclusion of university research grants from TSA

    The Accountant General of the Federation (AGF), Dr. Oluwatoyin Madein, has released guidelines for the exclusion of third-party research grant funds of Federal Universities and Research Institutions from the Treasury Single Account (TSA).

    The Office of the Accountant General of the Federation (OAGF) in a statement issued in Abuja on Thursday announced that these guidelines are contained in a federal treasury circular issued by Dr. Madein, are to be implemented immediately. 

    The guidelines follow President Bola Tinubu’s approval to exempt research grants and endowment funds of federal universities and research institutions from the TSA policy.

    A key aspect of the guidelines mandates that Federal Universities and Research Institutions must secure approval from the AGF before opening research grant or endowment fund accounts with commercial banks. 

    However, all other institutional accounts must remain with the Central Bank of Nigeria (CBN).

    Dr. Madein also emphasized that all research grants and endowment funds must be backed by well-executed Memoranda of Understanding (MOUs) between the institutions and the granting bodies. 

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    Furthermore, the OAGF will maintain a list of all research grant and endowment fund accounts opened by these institutions under the presidential approval.

    “The management of these accounts, including accounting and reporting of transactions, shall be restricted to the Bursary/Accounts Departments of the tertiary institutions,” Dr. Madein clarified. 

    She stressed that these accounts are strictly for receiving grants and must not be used for other public funds. Additionally, they will not be regarded as operational accounts for the institutions.

    Institutions are required to submit annual returns, including bank statements and reconciliation reports, to the OAGF for incorporation into the government’s General Purpose Financial Statement (GPFS). The institutions must also comply with the TSA/e-collection policy guidelines.

  • AGF urged to probe takeover of trial without investigation

    AGF urged to probe takeover of trial without investigation

    The Human Rights Monitoring Agenda (HURMA) yesterday urged the Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi (SAN), to probe the takeover of a case by his office without investigation.

    The group accused some unnamed officials in the Office of the AGF of engaging in the trial of some persons without investigation by the police.

    HURMA also called for an investigation of the procedure through which Oladayo Ogungbe obtained a fiat to prosecute the defendants.

    The non-governmental organisation focused on seeking justice and defending the rights of the people said some lawyers from the AGF’s office sought to take over the case from the police.

    HURMA had in 2022 written the office of the Assistant Inspector General of Police, Zone 2, Lagos, alleging that some officers of the command filed a charge against seven persons, including the President and Founder of the Academy of Islamic Propagation (ACADIP), Yusuf Adepoju, without inviting them for any investigation.

    Police authorities in Zone 2 had punished the alleged officer, who was then an Assistant Superintendent of Police (ASP), for reportedly filing the matter without following due process.

    HURMA reported that the police had in December 2023 filed a motion ex-parte to withdraw the case with charge number: FHC/4421C/22 between Federal Republic of Nigeria V. Muhammed Yahaya and six others “pending before Honourable Justice Deinde .I. Dipeolu of the Federal High Court, Lagos Division”.

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    According to a fresh petition, signed by the Chairman of the Board of Trustees of HURMA and Principal Partner of Lekan Alabi Chambers, Lagos, Lekan Alabi, the affidavit in support of the motion ex-parte filed by the police to withdraw the charge was deposed to by Ahmed Kanike, an Assistant Superintendent of Police (ASP) on 12 December 2022.

    Kanike deposed: “That save for the second defendant, all others were never invited for investigation nor their extra-judicial statements obtained before they were charged to this court in absentia; that a cursory look at the petition heading shows that the six defendants’ names were not mentioned; that the AIG Zone 2 did not direct nor approved the charge before this Honourable Court, and that there have been series of complaints to the IGP over the shoddy investigation and prosecution, hence the directive by the AIG Zone 2 Command, Onikan to withdraw the charge herein annexed as NPF 2 for proper investigation and prosecution.”

    HURMA claims that before the police could move the ex-parte motion, an Assistant Chief State Counsel, identified as T.A Mukuolu, on March 3, 2023, “appeared before his Lordship, Honourable Justice I.N. Oweibo to take over the charge on behalf of the Attorney General of the Federation.”

    “On the 5th of March, 2024, Oladayo Ogungbe Esq. appeared before Honourable Justice Deinde .I. Dipeolu, in respect of the charge and informed the Honourable Court that he had the fiat of the Learned Attorney General of the Federation to prosecute the charge as a private prosecutor.”

    HURMA in August submitted another petition at the office of the AGF, saying “it does not see any legal justification for the prosecution of the defendants without any investigation by the police.”

    In the petition dated August 7, but submitted at the AGF’s office on August 22, HURMA alleged: “We believe that the involvement of the office of the Learned AGF was the vestige of the last administration before the emergence of the current seasoned and tested AGF.”

    The group urged Fagbemi to probe the takeover of the charge “and why a minister in the temple of justice could shut his eyes on the obvious facts stated on oath, by the police that the allegation of crime against the defendants had not been investigated by them before the charge was preferred.”

    The case was a fallout of a festering conflict between the President and Founder of ACADIP, Mr Adepoju, and another public religious comparative debater, Jamiu Adegunwa.

    The police had confirmed that Adegunwa wrote the petition against Adepoju and the six others, accusing them of cyberbullying and cyberstalking, among other allegations.

  • AGF seeks time to retrieve casefile in ex-CJN Onnoghen’s CCT trial

    AGF seeks time to retrieve casefile in ex-CJN Onnoghen’s CCT trial

    The Attorney General of the Federation (AGF) has urged the Court of Appeal for time to retrieve the case file in the 2019 trial and conviction of former Chief Justice of Nigeria (CJN) Samuel Walter Onnoghen.

    Justice Onnoghen was convicted by the Code of Conduct Tribunal (CCT) in its judgment rendered on April 18, 2019, upon being tried on a six-count charge of alleged false assets declaration and breach of the Code of Conduct for Public Officers brought against him by the Federal Government.

    The CCT among others, ordered Justice Onnoghen’s immediate removal from office as the CJN and stripped him of all other offices he earlier occupied, including as Chairman of the National Judicial Council (NJC), and Chairman of the Federal Judicial Service Commission (FJSC).

    The tribunal also ordered the forfeiture of his five bank accounts and the money in the accounts, which he was said not to have declared, in the asset declaration form he submitted to the Code of Conduct Bureau (CCB).

    Dissatisfied with the CCT’s judgment, Justice Onnoghen challenged the decision and filed three appeals, marked: CA/ABJ/375/2019, CA/ABJ/376/2019 and CA/ABJ/377/2019.

    When the appeal came up for hearing on Tuesday, the lawyer representing the AGF, Tijani Gazali (SAN) told the court that the office of the AGF and the Federal Ministry of Justice have no materials relating to the case.

    Gazali explained that the prosecution of the case was handled by an external lawyer, Aliyu Umar (SAN), who not an officia of the ministry.

    He added that Umar who handled the case from the beginning to the point of judgment died four years ago and did not hand the case file to either the AGF of the Federal Ministry of Justice until his death.

    Gazali then prayed the court to grant an adjournment to enable the office of the AGF to retrieve the case file and other necessary documents from the deceased lawyer’s office and take other necessary steps to the appeals.

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    He also told the court that the matter was being looked into from another perspective to work out an amicable resolution of issues in dispute by the new Attorney General of the Federation.

    Appellant’s lawyer, Chris Uche (SAN) noted that during the trial before the CCT, some documents were served on the office of the AGF office, which was acknowledged.

    Uche then sought to be allowed to move an application for an accelerated hearing of the appeals, a request the court granted in the absence of any objection by the respondent.

    Justice Ifeoma Jombo Ofo, who presided granted the application for accelerated hearing and adjourned till September 19.

  • AGF cautions law enforcement agents against detaining suspects unduly

    AGF cautions law enforcement agents against detaining suspects unduly

    The Attorney General of the Federation AGF and Minister of Justice, Lateef Fagbemi (SAN) has asked law enforcement agents to desist from detaining suspects beyond the period allowed by the construction.

    Fagbemi also urged them to always ensure they carry out necessary preliminary investigations before effecting an arrest.

    The AGF spoke in Abuja on Thursday, July 25, at the 17th anniversary celebration of the Human Rights Writers Association of Nigeria (HURIWA).

    Fagbemi said: “I wish to remind our law enforcement agents that they must respect the laws of the land and not keep people in detention beyond a reasonable time as stipulated in Section 35 of the Constitution of the Federal Republic of Nigeria 1999.

    “Law enforcement agents must do due diligence before arresting anyone.

    “Situations where people are languishing in detention cells beyond the time allowed under the Constitution or by order of the courts will no longer be tolerated and appropriate sanctions shall be meted out to those found guilty of contravening the laws of the land.

    “The government of President Bola Ahmed Tinubu will not condone any reprehensible action and as the chief law officer of this country, I will ensure no one tramples on the rights of another person.”

    Fagbemi also draws a parallel between government policies and the well-being of the people.

    He said the theme of this year’s edition of HURIWA’s annual lecture – Any Nexus between Political Leadership and Human Rights – is both timely and pertinent.

    Fagbemi added: “It invites us to reflect deeply on the intricate relationship between those who lead and the fundamental rights of the citizens they serve.

    “Political leadership and human rights are inextricably linked, as the actions and policies of our leaders have profound implications on the realization of human rights.

    “Effective political leadership is essential in fostering a society where human rights are not only respected but actively promoted.

    “Leaders bear the responsibility of ensuring that laws and policies are aligned with international human rights standards and that they are implemented in ways that benefit all citizens.”

    Speaking on the relationship between governance, security and human rights, Fagbemi noted the intersection of governance, security, and human rights is crucial to the well-being and progress of any society.

    “This intersection cannot be better illustrated than the prevailing issue of local government autonomy. 

    “For over two decades, governance in most of the 774 local governments, the third tier and closest level of government to the grassroots has been almost crippled and all efforts by previous administrations to solve this problem had been frustrated.

    “But, this administration under the leadership of President Bola Ahmed Tinubu being conscious of the linkage of governance with security and human rights took the bold decision to approach the Supreme Court of Nigeria on this issue.

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    “That singular judgement of the apex court would not only improve governance at the local government level but would also significantly improve security and access to human rights.

    “This intervention by the Judiciary as well as the expeditious passage of the Minimum Wage Bill that was presented by the President to the National Assembly are also pointers to the fact that good governance can only be achieved through collaborations amongst the three arms of government.

    “Good governance at the local level would lead to improved security by addressing the root causes of insecurity, such as poverty, unemployment, and social injustice,” Fagbemi said.

  • Alleged N1.6bn fraud: Ex-AGF, co-defendants seek adjournment to refund funds

    Alleged N1.6bn fraud: Ex-AGF, co-defendants seek adjournment to refund funds

     The former acting Accountant-General of the Federation (AGF), Anamekwe Nwabuoku, on Wednesday, begged a Federal High Court, Abuja to give him more time to conclude the refund of the public funds allegedly siphoned.

    Nwabuoku and his co-defendant, Felix Nweke, in the 11-count money laundering charge preferred against them by the EFCC, prayed Justice James Omotosho to halt their arraignment until another date to perfect the refund.

    The News Agency of Nigeria (NAN) reports that Nwabuoku and Nweke, a former Deputy Director in the Ministry of Defence, are being prosecuted for alleged money laundering offences to the tune of N1.6 billion.

    While Nwabuoku is the 1st defendant in the charge marked: FHC/ABJ/CR/240/24 dated May 20 and filed May 27 by Ekele Iheanacho, Nweke is the 2nd defendant.

    They were alleged to have perpetrated the act while Nwabuoku served as the Director of Finance and Accounts in the Ministry of Defence between 2019 and 2021.

    Nwabuoku was appointed acting AGF on May 20, 2022 under ex-President Muhammadu Buhari after Ahmed Idris was suspended as AGF over alleged N80 billion fraud.

    He was, however, removed in July 2022, few weeks after assumed office.

    Sylva Okolieaboh, a Director at the Treasury Single Account (TSA) Department, replaced Nwabuoku as acting AGF.

    Okolieaboh’s appointment followed after report that Nwabuoku was under the radar of EFCC over corruption allegations.

    When the matter was called on Wednesday for the defendants to take their plea, Nwabuoku and Nweke stepped into the dock.

    However, Nweke’s lawyer, Emeka Onyeaka, informed the court that there was a new development in the case.

    Onyeaka notified the court that his client had taken steps toward settling the matter.

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    The lawyer said Nweke had made substantial refunds of the money traced to him by the anti-graft agency.

    “The 2nd defendant has taken steps, as there is a communication to the commission via-a-vs the alleged offences on making refund.

    “The commission is in receipt of the money and promised to communicate to us,” he said.

    Onyeaka said, “upon being served with the charge on Monday, we communicated with the commission and we are asked to tarry for their administrative procedure.”

    He said since substantial amount had been refunded, if his client is arraigned, such action would affect the trial.

    He, therefore, prayed the court to grant them an adjournment in order to take further step on the administrative procedure.

    Maduakolam Igwe, who appeared for Nwabuoku, aligned with Onyeaka’s submission.

    Igwe said his client had equally taken same steps and that substantial amount had been refunded.

    “We have written to the commission on this. The 1st defendant has also made some refunds.

    “May I adopt the submission of my learner friend to tidy up the adminstrative procedure,” he corroborated.

    Responding, counsel who appeared for the EFCC, Ogechi Ujam, acknowledged that though the commission was in receipt of a proposal letter, she said: “However, no negotiation has been made, no settlement has been done and no agreement has been reached by parties.”

    According to her, in the circumstance, we urge this honourable court to allow us to arraign the defendants.

    “Take a date for arraignment,” Justice Omotosho responded.

    After counsel agreed, the matter was adjourned until Oct. 14 for arraignment.

    The EFCC alleged that Nwabuoku, Nweke, Temeeo Synergy Concept Limited (at large), Turge Global Investment Limited (at large), Laptev Bridge Limited (at large), Arafura Transnational Afro Limited (at large) and other persons (at large) converted funds which are proceeds of unlawful activities to personal use.

    The offence is contrary to Section 18 of the Money Laundering Prohibition Act, 2011 as (amended by Act No. 1 of 2012) and punishable under Section 15(2) (b) and (3) of the same Act.

    In count two, Nwabuoku, Felix, Temeeo Synergy Concept Limited (at large), between September 2019 and October, 2020 in Abuja, indirectly converted the sum of N262, 602,897.27 (Two Hundred and Sixty Two Million, Six Hundred and Two Thousand, Eight Hundred and Ninety Seven Naira Twenty Seven Kobo).

    The money was alleged to have been paid into the Zenith Bank account of Temeeo Synergy Concept Limited (at large), with account number: 1016901286, knowing that the funds constituted proceed of unlawful activity.

    The offence, the EFCC said, is contrary to Section 15(2) (b) and punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011 (as amended by Act No. 1 of 2012), among other counts.(NAN)

  • AGF seeks enhanced collaboration of criminal justice stakeholders to curb rising crime rate

    AGF seeks enhanced collaboration of criminal justice stakeholders to curb rising crime rate

    The Attorney General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi (SAN) has advocated for enhanced collaboration among all stakeholders in criminal justice administration as a measure against the rising crime rate in the country.

    Fagbemi said there need for synergy and commitment among players in the sector to effectively implement existing laws to fight all forms of crimes plaguing the country.

    The AGF argued that it was not enough to have laws, but that it is only the effective implementation of such that will result in the desired outcome for the society.

     Fagbemi spoke in Abuja on Monday, July 8, at a one-day stakeholders’ engagement summit on the effective implementation of the Administration of Criminal Justice Act and the official signing of the practice directions on remand proceedings, guidelines and monitoring framework for the implementation of remand proceedings.

    The event was organised by the Administration of Criminal Justice Monitoring Committee (ACJMC), headed by Ms. Evbu Igbinedion, with support from the United Nations Office on Drugs and Crime (UNODC).

    The chairman of the Senate Committee of Judiciary and Human Rights, Senator Tahir Mogunu said the National Assembly would work with the Judiciary by promptly effecting a needed amendment to existing laws to ensure the effectiveness of the criminal justice system.

    The President of the Centre for Socio-Legal Study (CSLS) and effective criminal justice advocate, Professor Yemi Akinseye-George (SAN) stressed the need for all to work together to ensure a virile and independent Judiciary.

    Prof. Akinseye-George said where the Judiciary is virile and independent every other thing will fall in place because the justice delivery system will be able to call everyone to order.

    The Chief Judge of the High Court of FCT, Justice Hussein Baba Yusuf assured of the commitment of the Judiciary to uplifting and promoting various provisions of the Administration of Criminal Justice Act (ACJA) for effective administration of criminal justice.

    Justice Baba Yusuf, who used the occasion to sign the Practice Directions and Guidelines on Remand Proceedings, said the new guidelines will ensure that judges adhere to the rule of law and the rights of suspects in issuing remand orders.

    The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede called for a holistic review of the provisions of ACJA

    The EFCC boss recalled that ACJA has achieved a lot in revolutionizing the administration of criminal justice in the past ten years of its existence but noted that inherent flaws in the legislation should be urgently addressed.

    Represented by the Director, Legal, Sylvanus Tahir (SAN), the EFCC boss, who identified some provisions of the ACJA that require urgent attention, relevant stakeholders to take up the challenges of presenting necessary bills and suggesting amendments to the National Assembly.

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    The Controller-General of the Nigerian Correctional Service, Haliru Nababa stressed the need to harmonize the provisions of ACJA and the Nigerian Correctional Service Act 2019 to ensure seamless operations.

    Represented by senior officials of the service,  Ezekiel Kagah said the Correctional Service is committed to collaborating with all stakeholders in the administration of criminal justice.

    The Executive Secretary of the ACJMC, Ms. Evbu Igbinedion said the event was part of efforts by her agency to ensure quick determination of remand proceedings in courts.

    Ms. Igbinedion said her agency has done well in the last two years since she assumed office, noting that so far, it has expanded the scope of the oversight visits to remand centres by facilitating the deployment of more magistrates.