Business
EFCC freezes Obanikoro’s daughter account over N1.2bn deals
The Economic and Financial Crimes Commission has frozen an account linked to Shalewa Obanikoro, the daughter of a former Minister of State for Defence, Senator Musiliu Obanikoro.
According to EFCC investigators, about N1.2bn passed through the account which belongs to an oil firm.
Shalewa, who is a signatory to the account, was said to have personally mandated Fidelity Bank to transfer N800m from the account to another account within the bank.
A source in the anti-graft agency on Tuesday said, “We have frozen an account in which Obanikoro’s daughter is a signatory. She specifically mandated the bank to transfer N800m from the account to another account.
“We discovered that money was paid into the account at various times. The money came in N50m, N20m, N30m and various sums.
“She said the money was for oil and gas transactions. So, we have frozen the account as investigations continue. We want to know where the funds came from. At least N1.2bn has passed through the account.”
The EFCC was said to have made the discovery of Shalewa’s transactions when it was investigating the N4.7bn allegedly paid into the account of Obanikoro’s two sons – Babajide and Gbolahan.
The money, which was paid into the Diamond Bank of Sylvan McNamara, was allegedly shared among Obanikoro, the Ekiti State Governor, Ayodele Fayose; and the then governorship candidate of the Peoples Democratic Party in Osun State, Senator Iyiola Omisore.
While Omisore is in detention for allegedly receiving N1.3bn, five properties, allegedly belonging to Fayose, have been seized while his three Zenith Bank accounts have been frozen.
A house belonging to Obanikoro’s two sons in Ikoyi, Lagos, has also been seized. Obanikoro and his sons have, however, remained in the United States for the last 14 months.
The anti-graft agency had, last week, quizzed Shalewa and seized her passport to prevent her from travelling to the US.
“We seized her passport because we were told that she was planning on travelling soon. We had to prevent her from travelling since she is part of the investigation,” a detective said.
Apart from the N4.7bn arms scam rocking the Obanikoro family, MOB Integrated Services Ltd, a company headed by Obanikoro’s second son, Gbolahan, was implicated by the Aigboje Aig-Imoukhuede-led Presidential Committee on Verification and Reconciliation in 2012 over an alleged petroleum subsidy fraud.
The company was said to have made three transactions valued at N5,393,592,906.62. However, investigations revealed that the company only made one transaction valued at N3,261,263,992.52 verified as legitimate.
The difference of over N2bn was allegedly embezzled as MOB did not make the needed oil supply.
However, sources at the commission told our correspondent that after Obanikoro was appointed the Minister of State for Defence, the case was mysteriously suspended indefinitely.
The oil business linked to Obanikoro’s daughter has therefore opened a new dimension to the subsidy fraud case.
A source at the EFCC said, “Obanikoro’s case is very easy to investigate because unlike other politicians, he used his children to carry out most of his alleged crimes. Out of his four children, we have seen suspicious transactions in the accounts of three of them. There is no way these young guys will have billions in their accounts if they were not fronting for their father.”
Meanwhile, the EFCC on Tuesday grilled a former Senior Special Assistant on Public Affairs to ex-President Goodluck Jonathan, Dr. Doyin Okupe, for receiving N100m from the embattled former National Security Adviser, Col. Sambo Dasuki (retd.).
The EFCC, however, discovered that N15m was also transferred to Okupe from the account of Destra Investment Limited, a company owned by the immediate past National Publicity Secretary of the PDP, Chief Olisa Metuh, who is on trial for allegedly receiving N400m from Dasuki.
Ironically, Okupe is one of the defence witnesses in the case against Metuh.
A source at the EFCC said, “Okupe came again as usual and we grilled him over the funds he has openly confessed to receiving from Dasuki. He claims to have spent all the money but we keep making fresh discoveries.
“He received about N15m from Destra Investment Limited, owned by Metuh. Okupe is also one of Metuh’s defence witnesses. Okupe had appeared before the Federal High Court to defend Metuh and yet he (Okupe) has confessed to receiving money from Dasuki and he also collected N15m from Metuh.
“When we confronted him with evidence, he was shocked and could not respond.”
Okupe had, on May 19, 2016, told Justice Okon Abang that Metuh received N400m from Jonathan but argued that the fund could not have emanated from the ONSA.
While defending Metuh, Okupe had said, “I am surprised to hear that the Office of the National Security Adviser was used to distribute money for Jonathan’s presidential campaign. However, the President could also use his tremendous goodwill to source funds to assist his party or help to execute special programmes.
“Besides, as the candidate for election, the President has immense capacity to raise funds as a candidate. He did not use any government establishment as his pseudo-sponsor.”
It was learnt that Okupe risked being charged with conspiracy alongside Metuh depending on the outcome of investigations.
An EFCC investigator added, “With this new revelation, it is possible that Okupe knew that Metuh’s N400m emanated from the ONSA but went to court to defend Metuh in order to cover his tracks, having received N15m. We are still investigating the matter.”
*PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status
To prevent any misunderstanding regarding our affiliation with the United Nations, we hereby provide a formal clarification on the status and identity of the United International Peace and Governance Council (UNIPGC), formerly known as IPGC.
UNIPGC is an independent Civil Society Organization and Non-Governmental Organization with continental chapters registered in the United States, Germany, Canada, and several countries across Africa. The organization is committed to promoting the values and principles of the United Nations, particularly in advancing Sustainable Development Goal 16 (Peace, Justice, and Strong Institutions), as well as advocating for good governance globally.
In furtherance of its mandate, UNIPGC has established partnerships with reputable diplomatic civil society organizations, including the United Nations Association of Nigeria and the United Nations Association of Ghana. These collaborations are aimed at strengthening its engagement with initiatives aligned with United Nations ideals.
Additionally, UNIPGC has entered into diplomatic relations with the International Organization for Economic Development (IOED), an Intergovernmental Organization (IGO), to enhance its capacity for international cooperation and diplomatic engagement.
We wish to clearly state that UNIPGC is **not** an entity, agency, or organ of the United Nations.
Members of the public and media practitioners are respectfully advised to refer to the organization by its full and correct name: **United International Peace and Governance Council (UNIPGC)**, and not as the United Nations.
Thank you.
Business
Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour
Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour
Laffmattazz, one of Nigeria’s foremost comedy and live entertainment brands, is pleased to announce its official partnership with First Bank of Nigeria Limited for the highly anticipated Laffmattazz 2026 International Tour, themed “Next Chapter: A New Season of Laughter.”
Now in its 15th year, Laffmattazz—the brainchild of renowned Nigerian comedian Gbenga Adeyinka (Gbenga Adeyinka 1st)—has evolved into a cultural phenomenon, celebrated for its seamless fusion of comedy, music, and live stage performances.
The 2026 tour, which kicked off on Easter Sunday, April 5th, 2026 at the Jogor Centre, Ibadan, marks a significant milestone in the brand’s journey. Building on over a decade of success across Nigeria, this year’s edition signals a bold expansion into the international market, with a multi-city run in Canada, alongside major stops in Akure, Abeokuta, and Lagos.
This strategic partnership with First Bank of Nigeria Limited underscores a shared commitment to excellence and innovation. It is also aligned with FirstBank’s First@Arts initiative—a significant and ongoing program dedicated to supporting the creative arts, entertainment, and cultural sectors. Through this initiative, FirstBank provides financing, advisory services, and actively fosters a sustainable value chain for artists and creative entrepreneurs, while supporting key industry platforms such as the Nigerian Entertainment Conference.
Speaking on the collaboration, the Laffmattazz team stated:
“We are delighted to welcome First Bank of Nigeria Limited as a strategic partner for the Laffmattazz 2026 International Tour. As we mark 15 remarkable years of Laffmattazz, this partnership reinforces our vision to take premium Nigerian entertainment beyond borders, while delivering even bigger, better, and more memorable experiences for our audiences.”
As a key partner, First Bank will enrich the tour through innovative customer engagement initiatives, experiential activations, and exclusive fan experiences across all tour locations.
With its distinctive blend of humor, culture, and live entertainment, the Laffmattazz 2026 Tour is poised to connect audiences across cities and continents, bringing laughter to thousands of fans worldwide.
⸻
About Laffmattazz
Laffmattazz is a premier Nigerian comedy and entertainment brand, now in its 15th year, renowned for its vibrant live shows and nationwide tours. Founded by Gbenga Adeyinka 1st, the brand continues to deliver high-quality experiences that celebrate creativity, culture, and laughter.
About First Bank of Nigeria Limited
First Bank of Nigeria Limited is Nigeria’s oldest financial institution, widely respected for its legacy of trust, innovation, and customer-centric financial solutions that support economic growth and development. Through its First@Arts initiative, the Bank continues to play a pivotal role in empowering the creative industry and driving sustainable growth across the sector.
Business
MREIF is Better: FirstBank’s Mortgage Loan Is the Game-Changer for Home Ownership in Nigeria
MREIF is Better: FirstBank’s Mortgage Loan Is the Game-Changer for Home Ownership in Nigeria
Anyone who has tried to get a loan to buy a house in Nigeria knows the drill: endless forms, property valuation, and eventual down payment of a minimum 25% or more on the property. Sometimes, interest rates could go as high as 30% per annum, while the typical loan limit is N50 million.
Now, FirstBank is making homeownership more attractive.
FirstBank, in partnership with the Ministry of Finance Incorporated (MOFI), has introduced the MREIF Home Loan. MREIF loan is a game-changer, offering a single-digit interest rate of 9.75% per annum, with a loan amount of up to ₦100 million and a repayment period of up to 20 years. This is perfect for salaried individuals, including Nigerians in the diaspora, looking to purchase homes in approved locations.
The MREIF loan stands out with its lower interest rate, higher loan amount, and flexible equity contribution as low as 10%. This makes it an attractive option for those seeking affordable homeownership.
You are one quick decision away from being a landlord.
If you’ve been waiting for the right time to buy a home, FirstBank’s MREIF Home Loan is the smartest route to owning property in Nigeria today. Visit the FirstBank website https://www.firstbanknigeria.com/personal/loans/mreif-home-loan/ to get started.
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