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EXPOSED!!!! How Goodluck Jonathan Spent N2.2billion On Prayers to fight Boko Haram

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10 years ago

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Nigerian President Goodluck Jonathan speaks to the media on the situation in Chibok and the success of the World Economic Forum in Abuja

 

 

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.”

 

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Sahara weekly online is published by First Sahara weekly international. contact [email protected]

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Bank

Union Bank Honoured by ASBON at Nigeria National SME Business Awards

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5 hours ago

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May 13, 2026

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Union Bank Honoured by ASBON at Nigeria National SME Business Awards

 

 

Lagos, Nigeria – Union Bank of Nigeria has reaffirmed its reputation as a strong supporter of Nigerian businesses, receiving the Best SME Growth Banking Initiatives Award for 2025 from the Association of Small Business Owners of Nigeria (ASBON) at the Nigeria National SME Business Awards, held recently in Lagos.

The award was presented to the Bank in recognition of its strategic leadership in advancing the growth and resilience of small and medium-sized enterprises, through a differentiated suite of solutions designed to enable business expansion and long-term value creation.

Receiving the award on behalf of the Bank, Ayokunnumi Abraham, Head of SME Segment at Union Bank, described the recognition as a strong endorsement of the Bank’s commitment to supporting small and medium-sized businesses. He said:

“We are honoured to receive this recognition, which reflects Union Bank’s continued commitment to helping SMEs grow by making banking simpler, faster, and more accessible. Through enhancements to our specialised platforms such as Union360, we have meaningfully reduced the time it takes for businesses to come on board and begin transacting. These improvements have shortened onboarding, increased digital adoption among our SME customers, and supported the acquisition of new business clients. Our focus remains on delivering practical solutions that help Nigerian businesses thrive.”

Organised by ASBON in partnership with the Lagos State Government through the Ministry of Commerce, Cooperatives, Trade and Investment, the event convened stakeholders from the public and private sectors to recognise individuals and organisations driving meaningful impact across Nigeria’s SME ecosystem.

Union Bank remains focused on deepening its support for SMEs through customer-led solutions and processes that strengthen business growth across the ecosystem.

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Bank

Atlantian Crown Bank Rebrands as Arizona Global Bank LLC, Begins Licensing for Global Expansion 

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17 hours ago

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May 12, 2026

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*Atlantian Crown Bank Rebrands as Arizona Global Bank LLC, Begins Licensing for Global Expansion* 

_By AGP News 

 

*UNITED KINGDOM OF ATLANTIS* — In a move signaling a push into international markets, the Royal Throne of the United Kingdom of Atlantis on Sunday announced the corporate transformation of Atlantian Crown Bank LLC into *Arizona Global Bank LLC*, as part of a wider restructuring to position the institution for global banking and financial innovation.

 

The announcement was made at a press conference in the UKA capital by *HRM Queen Amb. Cletus C. Leaticia*, Chief Executive Officer of the newly named bank. She told reporters the rebranding marks _“more than a name change”_ and reflects a strategic pivot toward digital finance, cross-border investment, and modern banking standards.

 

_“This transformation represents our commitment to innovation-driven banking and our vision to become a globally competitive financial institution,”_ Queen Leaticia said.

 

*Licensing Process Underway*

According to the Department of Financial Administration and Corporate Affairs, which issued the official communication, Arizona Global Bank LLC has formally begun the process of applying for a *Banking Operational Licence* under UKA’s financial regulatory framework.

 

Once licensed, the bank plans to operate as a modern financial enterprise focused on four pillars:

1. Innovation-driven banking and digital financial solutions

2. Corporate financing and structured investment services

3. International financial partnerships and cross-border trade facilitation

4. Financial inclusion initiatives

 

Bank officials stressed that the institution will _“maintain strict compliance with all banking regulations and supervisory standards”_ set by UKA financial authorities.

 

*Strategic Shift Amid Global Ambitions*

Management described the rebranding as part of a broader restructuring initiative to _“strengthen the bank’s international identity, expand its global financial footprint, and align operations with contemporary banking standards.”_

 

Representatives called the licensing and rebranding process a _“major milestone”_ aimed at supporting economic growth, international trade, and cross-border investment initiatives.

 

*No Disruption to Existing Commitments*

Addressing potential concerns from clients and partners, management reassured stakeholders that _“all existing institutional commitments, operational objectives, and long-term strategic plans remain fully intact throughout the transition process.”_

 

The Royal Throne indicated that further updates on the licence approval, commencement of operations, corporate partnerships, and investment programmes will be released through official UKA and Arizona Global Bank LLC channels.

 

_The Department of Financial Administration and Corporate Affairs, Royal Throne of United Kingdom of Atlantis, issued the official statement._

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Bank

Fidelity Bank grows Gross Earnings by 45.6% for FY 2025 

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18 hours ago

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May 12, 2026

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Fidelity Bank grows Gross Earnings by 45.6% for FY 2025 

 

Lagos, Nigeria – Fidelity Bank Plc, a leading Nigerian financial institution, has announced its audited financial results for the year ended 31 December 2025, reporting Gross Earnings growth of 45.6% from N1.04 trillion in 2024 to N1.52 trillion in FY 2025, reflecting stronger topline momentum across core business segments.

 

 

The Group recorded a Profit Before Tax of N347.7 billion.  This performance was underpinned by a 38.7% year-on-year increase in interest income to N1.11 trillion (FY 2024: N803.1 billion) and a 44.7% year-on-year rise in fees and commission income to N113.4 billion (FY 2024: N78.4 billion).

 

 

On the balance sheet, total assets grew by 18.6% year-on-year to N10.46 trillion (FY 2024: N8.82 trillion), while customer deposits increased by 16.1% year on year to N6.89 trillion (FY 2024: N5.94 trillion), reflecting continued franchise strength and growing customer confidence in the brand. Net loans and advances declined by 2.4% year-on-year to N4.28 trillion (FY 2024: N4.39 trillion) as customers paid down on their mature obligations.

 

 

The Bank also strengthened its capital position during the period, with eligible capital rising to N561 billion, above the regulatory minimum of N500 billion for banks with international authorisation. In addition, capital adequacy remained robust, with Capital Adequacy Ratio of 30.94 percent as at 31 December 2025 (FY 2024: 23.47 percent).

 

 

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

 

 

The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

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