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Breaking: EFCC files fraud charge against Innoson CEO

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The Economic and Financial Crimes Commission has filed a fraud charge against Mr. Innocent Chukwuma, alias Innoson, his company Innoson Nigeria Limited and his brother Charles Chukwuma.

The charge was dated 30 November, 2017 and filed at a Lagos High Court.

In the case, the EFCC is accusing Innoson of obtaining containers of motorcycles spare parts by false pretences between 2009 and July 2011 in Lagos, ‘with intent to defraud’.

The goods, said to be property of Guaranty Trust Bank Plc, were allegedly obtained from Mitsui O.S.K Lines Limited in Apapa.

The anti-graft agency claims that Innocent Chukwuma and Charles Chukwuma, “with intent to defraud induced the staff of Mitsui O.S.K and Maersk Line Limited to deliver”, to them through their clearing agents, the motor cycle spare parts, moulds of spare parts and steel structures and raw materials called polyvinlchlorid, imported from China.

The charge said the accused falsely pretended that they were authorised by GTB to clear the goods and take delivery of them.

EFCC had on Tuesday arrested Innoson in Enugu, stirring some controversy that the arrest bore some ethnic motive and that the agency should not have waded into a dispute between GTB and the businessman.

Central to this was the story that the parties were locked in a dispute over illegal deductions from Innoson’s accounts by the GTB, with Innoson claiming that the bank was indebted to him and his company to the tune of billions of naira.

In press and TV interviews, he said he had gotten judgement at both lower and appelate courts and that the GTB has an appeal at the Supreme Court.

GTB responded tersely that it would not join issues with the businessman as the issues between them are in the court.

The EFCC in releasing Innoson on bail Wednesday, explained that he was arrested after he refused to honour invitations by the Commission. He had been arrested by the commission before and granted administrative bail. But he reneged on the bail and his surety could also not be found.

The agency said Innoson and his brother, Charles Chukwuma (who is still at large), were being investigated by the Insurance and Capital Market Fraud Section of the Commission’s office in Lagos over matters bordering on N1.47billion fraud and forgery and other infractions. He was also alleged to have used forged documents to secure tax waivers.

‘Unfortunately the industrialist resisted arrest and stirred controversy by bringing six truck-loads of thugs to block the entrance to his Plot W1, Industrial Layout, Abakaliki Road, Emeni, Enugu, home.

”This was after he initially misled the Police Command by informing them that his home had been invaded by armed robbers and kidnappers despite the fact that operatives of the Commission duly identified themselves to policemen guarding his home.

”His unruly thugs encircled and manhandled operatives of the Commission who had gone to effect the arrest.

“Consequently, a distress call was sent to the Commission’s Enugu Office for reinforcement.

`’In all of this, the Commission’s operatives acted with decorum and civility.

”No one was manhandled or assaulted by the EFCC team, and not a single shot was fired, despite the provocation”.

”No one was manhandled or assaulted by the EFCC team, and not a single shot was fired, despite the provocation”.

Sahara weekly online is published by First Sahara weekly international. contact saharaweekly@yahoo.com

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Tinubu’s Economic Agenda in Crisis: North-South Divide Strikes Again

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Tinubu’s Economic Agenda in Crisis: North-South Divide Strikes Again

By George Omagbemi Sylvester

 

President Bola Ahmed Tinubu, elected in 2023 on the wings of political calculation and elite manipulation, has now found himself caught in the snare of Nigeria’s enduring historical curse: the north-south divide. His ambitious economic reform agenda, intended to liberalize the economy, remove structural inefficiencies, and reduce government expenditure—has hit a legislative wall. But this isn’t just about policy. This is about power, patronage, and the ancient scars of a fractured federation.

The rejection of critical aspects of Tinubu’s economic proposals by lawmakers is a stinging rebuke, not only to his administration but to the very idea that Nigeria can be reformed from the top down without confronting its structural imbalances. In many ways, Tinubu’s presidency is now facing the same nightmare that has haunted every Nigerian leader since independence: how do you govern a country that was never truly united?

The Crumbling Reform Agenda
At the center of the storm is Tinubu’s proposal to centralize and streamline federal subsidies and remove what he termed “wasteful duplication of agencies.” This was meant to continue the subsidy removal narrative started in June 2023, and reduce fiscal leakage. However, the backlash, particularly from legislators representing the northern states, was swift and coordinated.

The northern bloc, comprising lawmakers from Kano, Katsina, Kebbi, Sokoto, and Borno, objected on the grounds that Tinubu’s proposals disproportionately affect their regions, where federal allocation remains a critical lifeline in the absence of strong internally generated revenue. But critics argue this is a strategic form of sabotage, aimed at retaining an unsustainable status quo that prioritizes political patronage over national progress.

Tinubu’s Economic Agenda in Crisis: North-South Divide Strikes Again
By George Omagbemi Sylvester

As Prof. Wale Adebanwi of Oxford University has argued, “Nigeria’s northern elite have historically benefited from the spoils of a rentier state, with oil wealth redistributed without the burden of productive contribution. Any move to reverse this equation is seen as existential.”

Tinubu, a southerner from Lagos, with strong Christian support from the Southwest and Southeast, is now facing the very brick wall that has impeded reforms since the First Republic. His own political survival now depends on how much compromise he’s willing to make—or whether he can break the mold entirely.

A Century-Old Fracture
The rejection of Tinubu’s reforms by northern lawmakers is not new. It is deeply rooted in a century-old tension embedded in the structure of the Nigerian state. The 1914 amalgamation, engineered by British colonialists, fused two vastly different regions, the industrializing, Western-educated Christian south and the feudal, Islamic north, into one artificial political entity.

From independence in 1960, this contradiction has remained unresolved. “Nigeria was created not to function as a cohesive nation, but as an economic convenience for its colonial masters,” noted historian Max Siollun. “What we’re seeing is the consequence of a nation built on convenience rather than consensus.”

The economic priorities of the north and south remain deeply divergent. While the south boasts ports, oil revenue, industries, and a growing tech sector, the north has remained largely agrarian, dependent on federal allocations and political appointments. Any attempt to tamper with this redistribution—whether via subsidy removal or cuts in federal spending, provokes immediate resistance.

Reform vs. Redistribution
Tinubu’s administration promised reforms: subsidy removal, tax reform, and investment in critical infrastructure. But all reforms require sacrifices, and those sacrifices must be nationally distributed to succeed. What Tinubu is discovering, painfully, is that reforms without inclusive buy-in are dead on arrival.

Economist Dr. Obiageli Ezekwesili captured the challenge succinctly: “Nigeria’s political economy is structured around the sharing of oil rents, not the creation of wealth. Any attempt to disrupt this structure will provoke fierce opposition from those who depend on the current dysfunction for survival.”

Indeed, the loudest resistance to Tinubu’s reforms has come not from the opposition PDP or Labour Party, but from within his own APC, particularly from northern senators and representatives who feel alienated by the president’s southern-centric economic vision.

The Ghost of Buhari
Many Nigerians are now drawing comparisons between Tinubu’s presidency and that of his predecessor, Muhammadu Buhari, a northern Muslim who governed with overwhelming support from the north. Buhari’s policies favored heavy spending, a bloated civil service, and minimal economic restructuring, a model that created illusions of stability while deepening the economic rot.

“Buhari governed like a tribal chief, rewarding loyalty over competence, and expanding a culture of dependency,” said Prof. Kingsley Moghalu, former Deputy Governor of the Central Bank. “Tinubu’s efforts to break away from that legacy will require courage, strategy, and above all, an appeal to national interest.”

But appealing to national interest in Nigeria is easier said than done. The political class thrives on division. The north fears marginalization, the south resents over-centralization, and the middle belt remains trapped in identity crises. Tinubu, in failing to build a coalition around his reforms, is now paying the price of elite disunity.

The Danger of Ethno-Political Paralysis
The rejection of Tinubu’s agenda is not just a political problem, it is an economic time bomb. Nigeria is drowning in debt, with over 90% of its revenue now going to debt servicing. Inflation is running rampant, the naira has crashed, and unemployment remains alarmingly high. The country cannot afford to maintain the current level of government spending without reform.

But if every economic policy must first pass the tribal test, then reform is doomed. “A nation that filters every economic decision through the lens of ethnicity is a nation marching toward collapse,” warned Nobel Laureate Wole Soyinka. “If Nigeria cannot rise above its primordial divisions, it cannot survive the 21st century.”

What Next for Tinubu?
Tinubu’s next steps are critical. Will he revise his reforms to appease northern lawmakers and keep the political peace? Or will he double down, use executive power, and mobilize the Nigerian people behind a populist push for structural change?

There is a middle path, dialogue, renegotiation of the federal structure, and regional empowerment. Many have called for fiscal federalism, where regions generate and control their own revenues, sending only a fraction to the center. This model, already practiced in countries like Canada and the United States, could reduce the perennial tension around federal allocation.

Political economist Ayo Teriba suggests, “Nigeria must move away from revenue-sharing to revenue-generation. That shift requires not just policy but a new national consensus, and that is where Tinubu must lead.”

In conclusion: Lead or Collapse
President Tinubu is at a crossroads. He can continue playing the dangerous game of balancing regional interests with national imperatives, or he can rise above the tribal chessboard and lead with boldness. The north-south divide is not just a historical relic, it is a living cancer that must be addressed through structural reform, not rhetorical appeasement.

The economic reform agenda is not a southern agenda. It is a Nigerian necessity. If lawmakers continue to sabotage reform because it threatens their regional comfort zones, then the entire nation will suffer. As the saying goes, “A house divided against itself cannot stand.”

In the end, Tinubu must decide: will he be a president of compromise, or a reformer of consequence?

Tinubu’s Economic Agenda in Crisis: North-South Divide Strikes Again
By George Omagbemi Sylvester

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Adron Homes Celebrate Easter, Offers Up to 30% Discount and Flexible Payment Plan

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Adron Homes Celebrate Easter, Offers Up to 30% Discount and Flexible Payment Plan

Adron Homes and Properties, Nigeria’s foremost real estate company, joins Christians nationwide and beyond in celebrating Jesus Christ’s resurrection this Easter season.

Easter, a time of reflection, sacrifice, and joyful renewal, reminds us of the triumph of life over death, hope over despair, and love over fear. It is a season that inspires faith, unity, and the promise of new beginnings for individuals, families, and communities alike.

In a statement released by the company, Adron Homes expressed heartfelt appreciation to its Christian clients and stakeholders for their continued trust and loyalty.

“Easter is a season that embodies the spirit of renewal and grace. At Adron Homes, we are inspired by the hope it brings and the values it represents. We remain committed to building not just houses, but vibrant communities where families can thrive, grow, and create lasting memories,” the company stated.

As part of the celebration, Adron Homes announced that its Easter Delight Promo is still ongoing. The promo offers up to 30% discount on all properties nationwide, along with a flexible payment plan of up to 24 months, making homeownership more accessible and convenient than ever.

Even more exciting, subscribers during the Easter promo stand a chance to win fantastic gifts, including bags of rice, whole chickens, rechargeable fans, gas burners, smart TVs, and many more household essentials — adding extra joy to the season of giving.

With estates strategically located in Lekki-Epe, Badagry, Shimawa, Ibadan, Abeokuta, Ede (Osun), Osunjele, Ilisan, Jos, Sagamu, Ado-Ekiti, Atan-Ota, Ikorodu, Papalanto, Ijebu-Ode, Abuja, Nasarawa, Niger, and more, Adron Homes continue to bridge the housing gap by offering luxurious yet affordable properties in fast-growing areas across the country.

Through its unwavering commitment to excellence, Adron Homes ensures every Nigerian has access to premium real estate and the opportunity to achieve their dream of homeownership.

As Christians mark this sacred occasion with loved ones, Adron Homes wishes every Nigerian peace, joy, and the grace of new beginnings.

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Harmony Gardens, FG Launch Renewed Hope Estate for Nigerians Abroad

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Harmony Gardens, FG Launch Renewed Hope Estate for Nigerians Abroad

Top Lagos-based real estate powerhouse, Harmony Gardens & Estate Development Ltd, is once again making waves, this time through a landmark partnership with the Federal Government of Nigeria to deliver 1,000 modern duplexes at Lekki Aviation Town, directly opposite the proposed Lekki International Airport.

The project, part of President Bola Ahmed Tinubu’s Renewed Hope Agenda, is targeted at middle-income Nigerians in the diaspora seeking to invest in sustainable, high-quality housing back home. It is being financed by the Federal Mortgage Bank of Nigeria (FMBN) and reflects the government’s commitment to easing access to homeownership.

President Tinubu is set to perform the official groundbreaking on May 29, 2025, signaling not just political will but also strategic action toward diaspora inclusion and infrastructure expansion.

Speaking on the initiative, Harmony Gardens Chairman, Mogaji Wole Arisekola, confirmed a whopping ₦106 billion investment into the FGN Harmony Partnership. The company’s innovative Executive Managing Director, Hon. (Dr.) Abdullahi Saheed Mosadoluwa, widely known as The Lagos Landlord is rolling out a game-changing Ibile Traditional Mortgage Scheme. The plan offers Nigerians at home and abroad the ability to rent-to-own homes on a single-digit annual interest rate for up to 20 years.

The Renewed Hope Estate will boast modern infrastructure, green areas, high-grade finishes, security systems, and effective drainage, setting a new standard for residential developments in Lagos. It will also provide over 5,000 direct and indirect jobs, boosting the construction and logistics sectors significantly.

Harmony Gardens has continued to solidify its reputation as a premium developer, currently overseeing seven prestigious estates, including GranVille Estate, The Parliament, Majestic Bay, Harmony Casa, and the flagship Lekki Aviation Town, collectively known as the Seven Citadel of Joy.

As the federal government collaborates with developers and international consultants to ensure timely delivery and top-tier quality, Harmony Gardens is once again demonstrating why it remains a pillar of excellence in Nigeria’s real estate industry.

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