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EFCC Detains Dep Senate President, Ekweremadu over Property

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The Economic and Financial Crimes Commission has detained Deputy Senate President, Ike Ekweremadu, for alleged fraud and failing to explain how he came to own 22 properties in Nigeria, the United States, the United Kingdom and the United Arab Emirates.

It was learnt that Ekweremadu honoured the invitation of the EFCC around 9 am on Tuesday but was still in custody as of 9 pm.

A top source at the EFCC told our correspondent that the lawmaker had many questions to answer.

“He came in around 9 am and he is still in our custody. He will be released once we have enough information,” the source said.

When contacted around 9 pm, the Spokesman for the EFCC, Mr Wilson Uwujaren, confirmed that Ekweremadu honoured the commission’s invitation on Tuesday. He, however, could not say if the senator was still in custody as of the time of filing this report by 9.30pm.

It was learnt that the Deputy Senate President was under investigation for allegedly owning about 22 properties some of which he failed to declare in his Asset Declaration Form at the Code of Conduct Bureau.

The Federal Government had in March sought an interim order of the Federal High Court, Abuja, to temporarily seize 22 prime properties/assets of Ekweremadu located in London, Dubai, Florida, and Abuja, that were not declared before the CCB.

The motion ex-parte filed by Festus Keyamo (SAN) on behalf of the Special Presidential Investigation Panel for the Recovery of Public Property was brought before the court pursuant to Section 330 of The Administration Of Criminal Justice Act, 2015; Section 8 Of The Recovery Of Public Property (Special Provisions) Act and Section 44 (2)(K) of the 1999 Constitution.

In an affidavit deposed to in support of the motion ex-parte by Yohanna Shankuk, a litigation clerk in Festus Keyamo Chambers, he stated that from 1999 till date, Ekweremadu had been a public officer and had not earned anything outside his salaries and allowances as a public officer.

He, therefore, wondered where the lawmaker got the money to acquire such properties.

The undeclared assets were identified as: 11 Evans Enwerem Street, Apo Legislative Quarters, Apo, Abuja; Plot 2633 Kyami, Abuja; Housing Estate; Plot 1106 CRD, Cadastral Zone 07-07, Lugbe, Abuja; Plot 2782,  Asokoro Extension, Abuja; houses at Citi Park Estate, Gwagwalada, Abuja and Plot 1474,  Cadastral Zone BD6, Mabushi, Abuja.

Other properties allegedly undeclared by the senator include Congress Court, Abuja; Flat 1, Block D25, Athletics Street, (24th Street), Games Village, Abuja; and Plot 66, 64 Crescent, Gwarimpa Estate, Abuja.

Properties allegedly owned by Ekweremadu abroad include: Flat 4, Varsity Court, Harmer Street, WIH 4NW, London; 52, Ayleston Avenue, NW6 7AB, London; Room 1903, The Address Hotel, Downtown Dubai; The Address Boulevard, 3901, Dubai; two Flats of Burij Side Boulevard (the signature), Dubai and Emirate Gardens Apartment No. EGG1/1/114,  Dubai.

Others are Emirate Gardens Apartment No. EGG1/115, Dubai; apartment DFB/12/B 1204, Park Towers, Dubai; Flat 3604, MAG214, Dubai; Villa No 148, Maeen 1, The Lakes Emirates Hills, Dubai; 4507 Stella Street, Bellavida Estate Kissime, Florida, United States; 2747 Club Cortile Circle, Kissime, Florida, US and 2763 Club Cortile Circle, Kissime, Florida, US.

However, the Peoples Democratic Party had decried the alleged harassment of Ekweremadu, opposition leaders, and voices of dissent, by the Federal Government.

The party accused the government of misusing the anti-graft and security agencies close to the 2019 general elections, stressing that such posed a grave threat to the nation’s democracy.

Reacting to what it described as Senator Ekweremadu’s witch-hunt by the EFCC on Tuesday, the party called on the international community to rein in the President Muhammadu Buhari-led administration before it became too late.

In a statement issued by its National Publicity Secretary, Mr Kola Ologbodiyan,  in Abuja on Tuesday, the party said, “Just a few days after the EFCC and over 200 policemen practically held Senator Ekweremadu hostage to prevent the defection of the All Progressives Congress senators to the PDP, the EFCC has continued to harass Senator Ike Ekweremadu to cover its shame.

“We wish to remind Nigerians and the international community that this is only the newest in the series of attempts to destroy the senator politically in the run-up to the 2019 general elections.

“It is of grave concern to us that while corruption and corrupt persons abound in the APC, the EFCC prefers to chase after innocent members of the opposition.

“While the likes of Babachir Lawal, Abba Kyari, Ayo Oke, Kemi Adeosun, Abdulrasheed Maina and his accomplices, Okoi Obono-Obla, and scores of others in the ruling APC, with corruption and fraud-related charges, walk free, the anti-graft agencies have continued in its reckless desperation to harass and dent leaders of the opposition in the name of an anti-corruption war that Nigerians and the world have come to see for what it is- persecution of the opposition.

“We warn the Buhari-led administration to desist from this act of highhandedness and witch-hunt of the opposition so as not to torpedo our democracy.

“The panicky APC government cannot be allowed to destroy opposition leaders just a few months to the general elections in the name of fighting corruption.”

The Punch

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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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