Business
EXPOSED!!!! How Goodluck Jonathan Spent N2.2billion On Prayers to fight Boko Haram
Fresh revelations emanating from the Economic and Financial Crimes Commission (EFCC) have it that ex-president Goodluck Jonathan spent about N2.2billion on prayers to fight Boko Haram.
The Nation gathered from an executive director of the Nigerian National Petroleum Corporation (NNPC), Aminu Baba-Kusa, that the money was spent on prayers in Nigeria and Saudi Arabia to win the war against insurgency in the country.
This latest development is not part of the $2.1billion arms fund for which former National Security Adviser (NSA) Colonel Sambo Dasuki is being tried.
The monies for the prayer, it was gathered, was disbursed through the Office of the National Security Adviser (ONSA), as proposed by Baba-Kusa.
Making this revelation was Baba-Kusa himself, in a statement of witness filed in the high court of the Federal Capital Territory (FCT), where he, Dasuki and three others(Acacia Holdings Limited and Reliance Referral Hospital Limited (owned by Baba-Kusa) and a former director of finance in ONSA, Shuaibu Salisu) are facing trials.
The NNPC director confessed that the money was spent on prayers to hasten the defeat of the insurgents, and that it was released in two tranches of N1,450,000,000 and N750,000,000, adding that the proposal was verbal.
“I approached the former NSA and discussed Boko Haram problems and I suggested there is need for prayers and he considered and accepted in 2013 when he first came to office.
“I personally sponsored many people locally and some few to Saudi Arabia. Some monies were later paid into our companies, which we paid to some of the mallams.
“I then arranged to recover my personal expense which I put into our own businesses.
“We have been spending a lot from our businesses and personal accounts. Money paid through UBA, First Bank and ECOBANK. For Acacia Holdings Limited(A/C 1017330319-UBA); ECOBANK(0122012650); and First Bank(Reliance Referral Hospitals Limited A/C 2022394057). The total amount is N2,200,000,000 from October 2014 to April 2015,” Baba-Kusa confessed.
According to him, he may not be an expert,
“but I used some of the mallams to organise in Abuja, Zaria, Kano, Sokoto, Maiduguri, Kaduna and Saudi Arabia covering 2013 to 2015.
“I give them funds as required from time to time, ranging from N500,000 to N30million, depending on their needs, traveling, sadaqat and others for local expenses and travels to Saudi Arabia for Umrah and Hajj.
“I reminded the NSA many times before payments were made. We grew up together with the former NSA with common friends in ABU.
“Most of the payments in cash were meant to give out cash to people that have been organising prayers. Some transfers to Acacia to other banks were for logistics and also to some mallams in cash.”
On how the prayer contract was arrived at, the suspect said: “The proposal made to the former NSA was not documented by him or myself. The verbal proposal to him was for prayers to overcome Boko Haram within the shortest possible time.
“The engagement for prayers by organising some people to be praying was not formally written down.
“There was no amount of money agreed on. I said to him, I will start organising, which he agreed and said he will see what he would give at a later time.”
Baba-Kusa, who noted that he spent an estimate of over N700million from his own resources before asking for money from the ONSA, noted further that “some of these funds came from disposal of some of my land in Abuja. One in Maitama, one in Gudu and one in Guzape. The Maitama was a little over N200million; Guzape (N80m), Gudu(N18m).”
He added that he kept no records of the money he handed over to the various people they used, but assured the EFCC that he would refund the said cash if he is able to dispose off his landed properties.
“I am making efforts to dispose of my properties in Abuja which would be over the total amount of N2.2billion. If the sales go through and the amount from the sales is made in full, I will make full payment.” he was quoted to have said.
The 19 charges against the five suspects read that, Baba-Kusa, Acacia Holdings Limited and Reliance Referral Hospital Limited are alleged to have “between October 2014 and April 2015 in Abuja agreed to do an illegal act to wit: dishonestly receiving property to wit: an aggregate sum of N2,200,000,000 being part of the funds in the accounts of the Office of National Security Adviser and that the same act was fine in pursuance of the agreement among you and you thereby committed an offence punishable under Section 97 of the Penal Code Act, Cap 532, Vol.4, LFN 2004.”
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
Business
BUA Group, AD Ports Group and MAIR Group Launch Strategic Plan for World-Class Sugar and Agro-Logistics Hub at Khalifa Port
BUA Group, AD Ports Group and MAIR Group Sign MoU to Explore Collaboration in Sugar Refining, Agro-Industrial Development, and Integrated Global Logistics Solutions
Abu Dhabi, UAE – Monday, 16th February 2026
BUA Group, AD Ports Group, and MAIR Group of Abu Dhabi today signed a strategic Memorandum of Understanding (MoU) to explore collaboration in sugar refining, agro-industrial development, and integrated global logistics solutions. The partnership aims to create a world-class platform that strengthens regional food security, supports industrial diversification, and reinforces Abu Dhabi’s position as a hub for trade and manufacturing.
The proposed collaboration will leverage BUA Group’s industrial and logistics expertise, Khalifa Port’s world-class infrastructure, and AD Ports Group’s operational experience. The initiative aligns with the objectives of the UAE Food Security Strategy 2051, which seeks to position the UAE as a global leader in sustainable food production and resilient supply chains. It also aligns with Nigeria’s food production- and export-oriented agricultural transformation agenda, focused on scaling domestic capacity, strengthening value addition, improving post-harvest logistics, and unlocking new markets for Nigerian produce across the Middle East, Asia, and beyond.
Photo Caption: L-R: Kabiru Rabiu, Group Executive Director, BUA Group; Cpt. Mohammed J. Al Shamisi, MD/Group CEO, AD Ports Group; Saif Al Mazrouei, CEO (Ports Cluster) AD Ports Group; Abdul Samad Rabiu, Founder/Executive Chairman, BUA Group; and Steve Green, Group CFO, MAIR Group
Through structured aggregation, processing, storage, and maritime export channels, the partnership is designed to reduce supply chain inefficiencies, enhance traceability and quality standards, and also create a predictable trade corridor between West Africa and the Gulf.
BUA Group—recognised as one of Africa’s largest and most diversified conglomerates, with major investments across sugar refining, food production, flour milling, cement manufacturing, and infrastructure- brings extensive industrial expertise and large-scale operational capability to the venture. MAIR Group will provide strategic support in developing integrated logistics and agro-industrial solutions, creating a seamless platform for production, storage, and distribution.
Abdul Samad Rabiu, Founder and Chairman of BUA Group, said:
“This MoU marks an important milestone in BUA’s international expansion and reflects our long-term vision of building globally competitive industrial platforms. Together with AD Ports Group and MAIR Group, we aim to develop sustainable food production and logistics solutions that strengthen regional supply chains and support the UAE’s Food Security Strategy 2051.”
He further added that, “This partnership represents not just a commercial arrangement but a strategic food corridor anchored on shared economic ambition, resilient infrastructure, and disciplined execution, reinforcing long-term food security objectives for both nations.”
A representative of MAIR Group added:
“This collaboration underscores our commitment to advancing strategic industries in Abu Dhabi and building integrated solutions that reinforce the UAE’s position as a global hub for trade, food security, and industrial excellence.”
A spokesperson from AD Ports Group commented:
“Our partnership with BUA Group and MAIR Group highlights Khalifa Port’s role as a catalyst for high-impact industrial investments. This initiative will enhance regional food security, strengthen global trade connectivity, and support Abu Dhabi’s economic diversification goals.”
This MoU marks a historic collaboration that combines world-class infrastructure, industrial expertise, and strategic vision, setting the stage for a sustainable and resilient food and logistics ecosystem that will benefit the UAE, the region, and global markets alike.
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