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Saraki Hails Supreme Court Verdict, Says Trial Politically Motivated

Published

8 years ago

July 6, 2018

Eric

The Senate President, Dr. Abubakar Bukola Saraki has reiterated his confidence in the judicial process and the ability of the Judiciary to do justice to all manner of men and in all circumstances.

In a statement personally signed by him after the judgement of the Supreme Court which upheld the earlier decision of the Code of Conduct Tribunal discharging and acquitting him of all 16 charges instituted against him, Saraki expressed gratitude to all Nigerians who have supported him since the case commenced three years ago.

“At the end of a tortuous journey of 1018 Days counting from September 22, 2015 when the case began at the Tribunal, I am happy that I have been vindicated. The Supreme Court has affirmed that there is no evidence of false declaration of assets. The court also observed that certain agents took over the responsibility of the Code of Conduct Bureau in this trial, and one can infer that this was done towards a pre-determined end.

“This outcome has gladdened my heart and further strengthened my belief in this country and as well as my faith in Almighty Allah, who is the righter of all wrongs. God has vindicated me today before the judgement of man, and I am most thankful and humbled at His grace and infinite mercies.

“Through it all, I refused to be shaken, knowing, as Dr. Martin Luther King Jr. said, that the arch of the moral universe may be long, but it bends towards justice. I knew the day would come when justice would prevail and I would be exonerated.

“I have always believed in the infallibility of our Judiciary, secure in the knowledge that our courts – the last refuge of the oppressed – would never condemn the innocent. This outcome is also a vindication of my belief in the rule of law.

“As I said in my first appearance at the CCT, this is a politically motivated case. The case was trumped up in the first instance because of my emergence as the President of the Senate against the wishes of certain forces. Ordinarily, I doubt anyone would be interested in the asset declaration form I filled over 15 years ago.

“What we have seen is the opposite. Instead of working together in the interest of the nation and to seek to do better for our people, we are fighting one another and using legal instruments to mount baseless accusations against one another. Instead of exhibiting the need for unity and working day and night for that purpose, we are stoking the fire of division and rancour. I maintain that, above all else, my CCT trial has been a flagrant vilification of my person, and shows that some people are after their personal interests rather than the national interest.

“As a result of the war of attrition, various arms of government have wasted resources needlessly. It has been three wasted years across board in this country. Three years that would have been devoted to tackling issues affecting Nigerians, including: economic recovery, insecurity, youth unemployment and strengthening national institutions – were wasted on malicious prosecution. People were ready to trade off three years that would have been devoted to fostering cooperation, unity and economic progress for their selfish ends. It is my hope that those who are behind my persecution will see the handwriting on the wall and leave me to do the work for which I was elected, so I can continue to give my all to this great country of ours.

“As many have rightly observed, it is plain to see that the anti-corruption fight is being prosecuted with vindictiveness, to target perceived political opponents. I believe in the need to fight corruption, but I will never be party to the selective application of the law or the rhetoric of an insincere anti-corruption fight.

“I believe in fighting corruption and I have made my own humble contributions to the fight against corruption in this country. As a presidential aide, I initiated the process that led to the enactment of the Fiscal Responsibility Act. I was the first governor to establish the Price Intelligence Unit which later metamorphosed into the Bureau of Public Procurement (BPP) at the federal level. In the history of this country, the highest fraud, the most brazen corruption has been the Fuel Subsidy scam. No one wanted to talk about it or confront entrenched powers. As a Senator on the platform of the ruling party at that time, I sponsored a motion on the floor of the Senate calling for investigation that led to the unprecedented exposure of the massive corruption in the fuel subsidy regime. That was my only point of departure with the former President. My antecedents speak for themselves.

“I thank Nigerians for standing by me through the difficult period of this trial. The support of ordinary Nigerians and their faith in me, as well as their sophistication and discernment in seeing this case for what it was, has been a source of strength to me.

“I am most grateful for the support of my Distinguished Colleagues and the Honourable Members of the 8th National Assembly for their unflinching support and regular attendance at the various proceedings. They were unfairly criticised for accompanying me on court appearances, but it is now clear that they did so because they believed that injustice to one, is injustice to all. They have been the true embodiment of esprit de corps. I thank them for banding together in the face of an unconscionable attack on the institution of the legislature.

“I thank my legal team for their determined and principled stance, and for their knowledge and diligence, which saw this case to its just conclusion. My gratitude to all my friends, political associates, supporters and the good people of Kwara State – all of whom have been solidly behind me.

“I thank my family for enduring this trial with their usual grace and fortitude. My immense gratitude also goes to the international community for their interest in this case. The Nigerian press have kept watch and I appreciate their vigilance in ensuring that all the facts were held up to scrutiny.

“To my supporters, yes, there is a reason to rejoice, but our celebration must be tempered with the sobering lessons of the attempted injustice from Day One of this trial. We all have to canvas for fairness in the fight against corruption. We should see this verdict as an inspiration to champion the rule of law, promote democracy and its institutions as well as tolerance of divergent views.

“The overwhelming support of so many, and the insistence on ensuring that due process and truth prevailed, has made this verdict possible,” he stated.

Featured

Strategy and Sovereignty: Inside Adenuga’s Oil Deal of the Decade

Published

3 days ago

January 11, 2026

Eric

By Michael Abimboye

In global energy circles, the most consequential deals are often not the loudest. They unfold quietly, reshape portfolios, recalibrate value, and only later reveal their full significance.

The recent strategic transaction between Conoil Producing Limited and TotalEnergies belongs firmly in that category. A deal whose implications stretch beyond balance sheets into Nigeria’s long-troubled oil production narrative.

For Mike Adenuga, named The Boss of the Year 2025 by The Boss Newspapers, the agreement is more than a corporate milestone. It is the culmination of a long-term upstream strategy that is now translating into hard value barrels, cash flow, and renewed confidence in indigenous capacity.

At the heart of the transaction is a portfolio rebalancing agreement that sees TotalEnergies deepen its interest in an offshore asset while Conoil consolidates full ownership of a producing block critical to its medium-term growth trajectory. The parties have not publicly disclosed the monetary value, industry analysts place similar offshore and shallow-water asset transfers in the high hundreds of millions of dollars, depending on reserve certification and development timelines. What is indisputable, however, is the deal’s structural clarity: each partner exits with assets aligned to its strategic strengths.

For Conoil, the transaction represents something more profound than asset shuffling. It is the validation of an indigenous oil company’s ability to operate, produce, and partner at scale. That validation was already underway in 2024, when Conoil achieved a landmark breakthrough: the successful production and export of Obodo crude, a new Nigerian crude blend from its onshore acreage.

In a country where new crude streams have become rare, Obodo’s emergence signalled operational maturity. More importantly, it shifted Conoil from being perceived primarily as a downstream and marginal upstream player into a full-spectrum producer with export-grade assets.

The commercial impact was immediate. Obodo crude enhanced Conoil’s revenue profile, strengthened cash flows, and materially improved the company’s asset valuation.

For Mike Adenuga, Obodo represented something else entirely: oil income with scale and durability. Producing crude shifts wealth from theoretical to realised. It is the difference between potential and proof.

That momentum was reinforced by Conoil’s acquisition of a new drilling rig, a move that underscored its intent to control not just resources, but execution. In an industry where rig availability often dictates production timelines, owning modern drilling capacity gives Conoil a strategic advantage lowering costs, reducing dependency, and accelerating development cycles. It also enhances the company’s bargaining power in partnerships such as the one with TotalEnergies.

Taken together, the Obodo crude success, the rig acquisition, and the TotalEnergies transaction, these moves materially expand Conoil’s enterprise value. While private company valuations remain opaque, upstream assets with proven production, infrastructure control, and international partnerships typically command significant multiple expansion. For Adenuga, all of these represents a stabilising and appreciating pillar of wealth.

As The Boss Newspapers honours Mike Adenuga as Boss of the Year 2025, the recognition lands at a moment when his oil ambitions are no longer peripheral to his legacy. They are central. In Obodo crude, in steel rigs, and in carefully negotiated partnerships, Adenuga is shaping a version of Nigerian capitalism that privileges patience, scale, and execution over spectacle.

In the end, the most powerful statement of wealth is not net worth rankings or headlines. It is the ability to convert strategy into assets, assets into production, and production into national relevance. On that score, the Conoil–TotalEnergies deal may well stand as one of the most consequential chapters in Mike Adenuga’s business story and in Nigeria’s evolving oil future.

Featured

Peter Obi, Only Life in ADC, Says Fayose

Published

4 days ago

January 10, 2026

Eric

Former Governor of Ekiti State, Ayodele Fayose, says the former presidential candidate of the Labour Party, Peter Obi, is the only life in the African Democratic Congress, ADC.

Fayose made this statement on Friday while fielding questions in an interview on ‘Politics Today’, a programme on Channels Television.

He also said that the Peoples Democratic Party, PDP, is technically no more, adding that it is dead.

The former governor equally said that Oyo State governor, Seyi Makinde, should not be dragged into the woes of the PDP.

He said: “Obi is the only life in ADC; all other people in ADC are semi-existent. If Obi had remained in Labour Party or has gone to Accord Party, he is the only life there. All the other people there, they are not existing. They are old-forces.

“Openly, I supported Tinubu in 2023. I didn’t hide it. Till now I’m still there. I don’t jump. I have said it to you I’m not a member of APC and I will never be.”

DailyPost

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More Troubles for Ahmed Farouk: Dangote Drags Ex-NMDPRA Boss to EFCC over Corruption Claims

Published

5 days ago

January 9, 2026

Eric

The Chairman of Dangote Industries, Aliko Dangote, through his legal representative, has filed a formal corruption petition against the former Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, at the headquarters of the Economic and Financial Crimes Commission.

This was disclosed in a statement made available to our correspondent by the Dangote Group media team on Friday.

Recall that Dangote had earlier petitioned the Independent Corrupt Practices and Other Related Offences Commission to investigate Ahmed for allegedly spending $5 million on his children’s secondary education in Switzerland. He withdrew the petition a few days ago, even as the ICPC vowed to continue with its investigation.

The statement on Friday said Dangote’s petition to the EFCC followed “The withdrawal of the same petition from the Independent Corrupt Practices and Other Related Offences Commission, a strategic decision aimed at accelerating the prosecution process.”

In the petition, signed by Lead Counsel Dr O.J. Onoja, Dangote urged the EFCC to investigate allegations of abuse of office and corrupt enrichment against Ahmed, and to prosecute him if found culpable.

The petition further stated that Dangote would provide evidence to substantiate claims of financial misconduct and impunity.

“We make bold to state that the commission is strategically positioned, along with sister agencies, to prosecute financial crimes and corruption-related offences, and upon establishing a prima facie case, the courts do not hesitate to punish offenders. See Lawan v. F.R.N (2024) 12 NWLR (Pt. 1953) 501 and Shema v. F.R.N. (2018) 9 NWLR (Pt.1624) 337,” the petition read.

Onoja further urged the commission, under the leadership of Mr Olanipekun Olukoyede, “To investigate the complaint of abuse of office and corruption against Engr. Farouk Ahmed and to accordingly prosecute him if found wanting.”