Headline

Malami Accuses Magu of Weighty Allegations, Calls for His Removal

Published

6 years ago

June 19, 2020

Eric

Abubakar Malami, minister of justice and attorney-general of the federation (AGF), has recommended the sack of Ibrahim Magu, acting chairman of the Economic and Financial Crimes Commission (EFCC).

Quoting Thisday, The Cable said that Malami asked President Muhammadu Buhari to sack Magu over “weighty” allegations including diversion of recovered loot.

In addition to allegedly re-looting recovered loot, he was said to have also accused the EFCC acting chairman of insubordination and misconduct.

In a memo to the president, he was also said to have shortlisted three candidates to be considered as Magu’s replacement.

Malami did not respond to an enquiry sent by TheCable, but THISDAY quoted a source privy to the memo as saying the minister listed “22 weighty allegations” against the EFCC boss.

The source reportedly said: “I can authoritatively tell you that though Magu has survived previous plots to remove him, the AGF’s legal opinion remains the deadliest plot to get Magu out of the EFCC as AGF’s letter to the president contained 22 weighty allegations that require Buhari’s decision on whether or not to send Magu’s name to the Senate for confirmation or replace him.

“This is because the office of the AGF is the supervising ministry of the EFCC and so his legal opinion cannot be treated with levity.

“For example, Malami alleged accounting gaps or discrepancies of figures concerning the recovered assets, claiming that Magu was not transparent enough in the management of recovered assets.”

The reported move by Malami is yet another blow to Magu’s position at the EFCC since his appointment in November, 2015.

He has remained in acting capacity following the senate’s refusal to confirm him on at least two occasions over the years.

Among the reasons the senate has cited for not confirming him is the Department of State Services (DSS) report which accused Magu of various forms of misconduct including living in a N40million mansion paid for by one retired air commodore who is allegedly involved in shady deals.

But the EFCC boss is said to be fighting against his replacement, likewise his supporters at the presidency.

THISDAY quoted presidency sources as saying removing Magu “at this time when he has given muscle to Buhari’s anti-corruption fight would be a mistake”.

“It is painful that the EFCC boss is facing certain powerful forces who have decided to remove him in spite of his remarkable achievements,” an unnamed source was quoted as saying.

TheCable

Headline

Defence Gulps Lion Share As Tinubu Presents N58.47trn 2026 Budget to NASS

Published

7 hours ago

December 19, 2025

Eric

President Bola Tinubu has presented a budget of N58.47 trillion for the 2026 fiscal year to a joint session of the National Assembly, with capital recurrent (non‑debt) expenditure standing at N15.25 trillion.

Tinubu presented the budget on Friday, pegging the capital expenditure at N26.08 trillion and putting the crude oil benchmark at US$64.85 per barrel.

He said the expected total revenue is N34.33 trillion, projected total expenditure: N58.18 trillion, including N15.52 trillion for debt servicing. The budget is N23.85 trillion, representing 4.28% of GDP.

The budget was anchored on a crude oil production of 1.84 million barrels per day, and an exchange rate of N1,400 to the US Dollar for the 2026 fiscal year.

In terms of sectoral allocation, defence and security took the lion’s share with N 5.41 trillion, followed by infrastructure at N3.56 trillion.

Headline

Mike Adenuga, Emmanuel Macron Hold High-Powered Meeting in Paris

Published

2 days ago

December 18, 2025

Eric

Accomplished billionaire businessman and Commander of the French Légion d’Honneur, Dr. Mike Adenuga Jr., GCON, CdrLH, has held a private meeting with the French President, Emmanuel Macron.

The two powerful citizens of the world held the meeting on Wednesday at the historic Élysée Palace in Paris.

The high-level engagement underscores the longstanding relationship between Dr. Adenuga and the French Republic, as well as his continued relevance in global business and diplomatic circles.

A respected industrialist and philanthropist, Adenuga has been widely acknowledged for his contributions to economic development, telecommunications, energy, and humanitarian causes across Africa and beyond.

The meeting adds to Dr. Adenuga’s growing profile as a bridge between African enterprise and international leadership.

Headline

Free at Last: Burkina Faso Releases 11 Nigerian Soldiers, Aircraft

Published

2 days ago

December 18, 2025

Eric

Burkina Faso has released Nigerian soldiers who were detained after their aircraft made a forced landing in the Sahelian country earlier this month, Nigerian officials said.

The release followed a diplomatic intervention by President Bola Tinubu, who dispatched a high-level delegation led by the Minister of Foreign Affairs, Yusuf Tuggar, to meet Burkina Faso’s Military Leader, Ibrahim Traoré, on Wednesday.

In a statement, Alkasim Abdulkadir, Tuggar’s spokesperson, said both sides resolved the matter amicably and secured the release of the Nigerian Air Force pilots and crew.

The soldiers had been held for nearly two weeks after the Confederation of Sahel States (AES) described the aircraft’s landing as an “unfriendly act” carried out in defiance of international law.

The Nigerian Air Force, however, said the crew encountered a technical issue that required a precautionary landing in Bobo-Dioulasso, the nearest available airfield. It said the landing complied with standard safety procedures and international aviation protocols.