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N7.6bn Alleged Fraud: Court Grants Orji Kalu’s Request to go for Surgery

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The Federal High Court in Lagos on Tuesday granted ex-Governor Orji Uzor Kalu’s request to have his case adjourned so as to enable him to go for a surgical procedure.

The court also dismissed the no-case submission filed by the former governor of Abia State in response to the N7.6bn fraud charges pressed against him by the Economic and Financial Crimes Commission.

Justice Mohammed Idris, in his ruling, said Kalu had some explanations to make, particularly on certain documents tendered by the EFCC as exhibits in evidence against him.

The same fate befell similar no-case submissions filed by Kalu’s co-defendants.

The ex-governor is facing 39 counts alongside his company, Slok Nigeria Limited; and Ude Udeogu, who served under him as the Director of Finance and Accounts at the Abia State Government House.

The EFCC first arraigned them before Justice Idris on October 31, 2016.

They pleaded not guilty to the charges, following which the EFCC opened its case, calling 19 witnesses and tendering a load of exhibits.

At the conclusion of the prosecution’s case, however, the defendants filed a no-case submission, arguing that the EFCC failed to link them to any crime.

They urged Justice Idris to dismiss the charges and set them free.

The judge, however, disagreed with them in his Tuesday ruling, holding that they have explanations to make as to the fraud allegations pressed against them.

The judge called on the defendants to open their defence, reminding the parties that he had September ending deadline to finish the case.

Kalu’s lawyer, Mr. Gordy Uche (SAN), however, pleaded with the judge for a six-week adjournment to enable Kalu to go for a surgical procedure.

“The first defendant has a medical appointment for surgery and the lead counsel in this matter had actually written a letter he wants us to bring to the attention of Your Lordship with respect to the surgery,” Uche said.

He pleaded with the judge to adjourn the case till September 10, 2018.

But the prosecutor, Mr Rotimi Jacobs (SAN), pleaded that the case be heard in the first week of September, bearing in mind that the judge had to conclude the case by the end of September.

Uche, however, said it was not realistic, explaining that the six-week adjournment was to avoid a situation where the case would come up and Kalu would not be available.

In a short ruling, Justice Idris said he was constrained to grant Uche’s request, thereby adjourning the case till September 10 for the defendants to open their defence.

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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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