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EFCC Accuses Gov Ortom of N22bn Fraud

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The Economic and Financial Crimes Commission has linked Governor Samuel Ortom of Benue State to an alleged fraud to the tune of N22bn.

This is just as the EFCC revealed that 21 members of the Benue State House of Assembly are under investigation for allegedly diverting N375m meant for the procurement of vehicles that would be used for oversight functions.

The allegations are contained in a report of an investigation which began in 2016 but was made available to our correspondent on Monday.

According to the report, the governor, between June 30, 2015 and March 2018, ordered the withdrawal of N21.3bn from four government’s accounts in Guaranty Trust Bank, First Bank of Nigeria and the United Bank for Africa.

On paper, about N19bn out of the money was said to be meant for the payment of six security agencies that had been deployed in the state to address the incessant clashes between herdsmen and farmers.

However, the EFCC stated that less than N3bn of the money was paid to the security agencies while the remainder could not be accounted for.

The report reads in part, “We investigated four bank accounts belonging to two Benue State Government’s agencies. The first agency is the Benue State Government House which has an account in UBA with number 1017348051 and another account in GTB with number 0027952907. These accounts received N1, 916, 635, 206 from the state’s allocation between June 30, 2015 and March 2018.

“The second government agency is the Bureau of Internal Affairs and Special Services. The agency has an account with UBA with number 1007540119 and a First Bank account with number 2023788057. Between the same period, the accounts were credited with N19, 468, 951, 590 from the Benue State allocation.”

The anti-graft agency said one person identified as Oliver Ntom, withdrew over N19bn from the account of the Bureau of Internal Affairs and Special Services based on the instructions of the Permanent Secretary, Boniface Nyaakor.

The money, which was allegedly withdrawn under the pretext of security votes, was said to have been diverted while the memos written in respect of the withdrawal were destroyed.

The report adds, “Investigations revealed that N19bn was withdrawn by one Oliver Ntom, a cashier. Sometimes, in a day, he would withdraw as high as N500m by cashing several cheques worth N10m each.

“The permanent secretary upon interrogation said anytime security agencies requested funds, he would approach Governor Ortom who would ask him to write a memo to that effect. The permanent secretary would write and the governor would approve the money.

“The permanent secretary said the funds are usually given to six security agencies. He said the highest that any security agency gets is N10m a month while the least any of the agencies gets is N5m a month.

“He said after the money has been released, the governor usually orders that the memo be torn to pieces. It is important to note that if a total of N60m is given to all the security agencies collectively every month as claimed by the permanent secretary, it cannot amount to half of N19bn in three years.”

The commission said the funds being spent were not in the budget of the Benue State Government.

It further accused the governor of failing to pay salaries despite withdrawing N1.328bn from the Joint State Local Government Account in Fidelity Bank with number 5030058730.

The report adds, “Investigations revealed that one John Bako, a member of one of the security outfits in Benue, withdrew N28m while one Andooi Festus, believed to be a cashier from the Bureau of Local Government and Chieftaincy Affairs withdrew N1.3bn. They have been invited.”

Meanwhile, the EFCC has invited 21 out of the 30 lawmakers in the Benue State House of Assembly for allegedly diverting part of the N375m meant for the procurement of vehicles in 2016.

According to the anti-graft agency, the Benue State Government had in 2016 awarded a contract worth N417m (N375m after tax) to Mia-Three Nigeria Limited to procure 30 Prado TXL vehicles for the lawmakers.

However, only eight members received the vehicles while the others diverted the funds.

The report adds, “About 21 of the lawmakers are under probe. However, 25 of the lawmakers have returned all the money they received which adds up to N245m. Four others have failed to return the remaining sum of N31m.”

Attempts to get a reaction from Ortom were unsuccessful. Calls to the mobile of his Chief Press Secretary, Mr. Terver Akase, were neither picked nor returned.

A response to a text message sent to him on the subject was still being expected as of the time of filing this report at 7.30pm.

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US Cancels Visa Processing for Nigeria, Brazil, Russia, 72 Other Countries

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The Trump administration is suspending all visa processing for applicants from 75 countries, a State Department spokesperson said on Wednesday.
The spokesperson did not elaborate on the plan, first reported by Fox News, which cited a State Department memo.
The pause will begin on January 21, Fox News said.
Somalia, Russia, Iran, Afghanistan, Brazil, Nigeria, Thailand are among the affected countries, according to the report.
The memo directs U.S. embassies to refuse visas under existing law while the department reassesses its procedures. No time frame was provided.
The reported pause comes amid the sweeping immigration crackdown pursued by Republican U.S. President Donald Trump since taking office last January.
In November, Trump had vowed to “permanently pause” migration from all “Third World Countries” following a shooting near the White House by an Afghan national that killed a National Guard member.
Source: Reuters

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‘A Friend of a Thief is a Thief’, Defence Minister Warns Gumi, Other Bandit-Sympathizers

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The Minister of Defence Minister, Lt.-Gen. Christopher Musa, (rtd), has warned Sheikh Ahmed Gumi and other persons in the country against including bandits in northern brotherhood.

General Musa, via a statement on Wednesday in Maiduguri, declared: “A friend of a thief is a thief,” warning Nigerians against supporting terrorists and bandits in any form.

He said that the warning statement is neither accidental nor symbolic; explaining that it is a clear response to narratives previously promoted by Sheikh Gumi, who described bandits’ hiding in the bush as “our brothers” and argued that society cannot do without them.

General Musa’s message draws a firm line between compassion and complicity. While empathy has its place, justifying or normalising terrorism only strengthens criminal networks that have devastated communities, displaced families, and claimed innocent lives.

Labeling bandit as “brothers” does not reduce violence it legitimizes and undermines national security efforts.

The Defence minister’s warning serves as a reminder that terrorism thrives not only on weapons but also on moral cover. Anyone who excuses, defends, or shields criminals through words, influence, or silence shares responsibility for the consequences. In matters of national security, neutrality is not an option.

Nigeria cannot defeat banditry and terrorism while dangerous rhetoric blurs the line between victims and perpetrators. The choice is clear: stand with the law and the nation, or be counted among those enabling crime.

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

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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.

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