Business
Governor Fayose, Obanikoro named in $2.1bn arms procurement fund diversion
The EFCC allegedly traced N4.7 billion from the diverted $2.1 billion arms procurement fund to former Minister of State Defence, Musiliu Obanikoro and Ekiti State Governor Ayodele Fayose.
According to a report by The Nation, the money which was sourced from the SAS Imprest Account in the Office of the former National Security Adviser (ONSA) Col. Sambo Dasuki (retd.), was used during the Ekiti state governorship election on June 21st 2014.
According to EFCC findings, Fayose’s associate, Abiodun Agbele(Alias Abbey); Mrs. Helen Olayemi Fayose; Obanikoro’s sons — Gbolahan and Babajide, Ikenna Ezekwe; Sylvan Mcnamara Limited(a company allegedly run by the Obanikoros); Spotless Hotel, owned by Fayose and De Privateer Limited, which is owned by Agbele, were all benefited from the sharing of the N4.7 billion. About 30 bureaux de change changed N759, 384, 300 (out of the N4.745billion) into dollars.
According to EFCC sources, Obanikoro who was a minister in 2014, flew N1.218 billion cash to Akure on June 12th, 2014 for Fayose a few days before the state governorship election. Investigations by the EFCC showed that a firm, Sylvan Mcnamara Limited, which is allegedly owned by Obanikoro and his sons, was used to launder the N4.745 billion. The directors of the company, which was incorporated in November 2011, are: a close aide of the ex-Minister, Ikenna Ezekwe(700,000 shares) of 51 Simpson Street, Ebute-Metta; Idowu Oshodi(299,000 shares) of 8, Prince Tayo Adesanya Street, Park View Estate, Ikoyi; and Elizabeth Adebiyi(1,000 shares) of 3, Adedoyin Street, Ijeshatedo, Surulere.
“To set the stage for the use of the company for money laundering, the board of directors on May 7, 2012 passed a resolution that the company should open an account and appointed Mr. Gbolahan Obanikoro, Ikenna Ezekwe, Ms. Theresa Matuluko (Secretary) and Mr. Babajide Obanikoro as the signatories to the account. The board added that the signing combination be that any of the signatories can sign alone.”an EFCC source said
According to the antigraft agency, when it was time to illegally draw the N4.745billion from ONSA for election, Obanikoro made the account of Sylvan Mcnamara Limited available and coordinated the disbursement.
The breakdown of the disbursement is N759, 384, 300 changed into dollars through bureaux de change; N160million spent on cars through Balmoral International Limited; N1, 219, 490,000 ferried by Obanikoro in two flights to a branch of Zenith Bank at Plot 13, Alagbaka Estate, Akure to evacuate the cash and received by Fayose’s associate, Abiodun; balance of about N2billion withdrawn by Obanikoro and his two children in cash.
Some of the bureaux de change and the amounts credited to them include A.A.G.B.S Oil and Gas (N168,000,000.00); Sylvan Mcnamara Ltd (N167,500,000.00); Northline Ltd (N835,000.00); Northline Ltd (N83,750,000.00); Five Star Ltd N(37,600,000.00); A.B.A Trading Ent (N268,301,500.00); Villagolf Bureaux De (N1,425,000.00); Ahmad Ahmad &Omar (N350,000.000); Northline Ltd (N1,680,000.00); Northline Limited A (N2,325,300); Rehoboth Homes (N20,000,0000); Northline Ltd (N5,932,500.00); Northline Ltd (N842,500); Northline Ltd (N842,500.00).
Investigations by EFCC also showed how N1, 219, 490,000 was allegedly flown to Akure Airport on June 12, 2014 to Fayose through his associate, Abiodun Agbele (aka Abbey).
A document from the EFCC detailing its investigation into the N4.7 billion fraud reads:
“On June 12, 2014, the sum of N1, 219, 490,000 was flown from Lagos to Akure Airport by Musiliu Obanikoro through a chartered plane (HS 125 jet) with a tail number N638MA. The plane belongs to Okin Travels which is a subsidiary of Elizade Motors. But the aircraft was then managed by OAS Helicopters for commercial/ chartered service. The ex-minister was accompanied by his military Aide-de-Camp who introduced himself as A.O. Adewale. The N1, 219, 490,000 was in two consignments but flown in the same aircraft twice in the morning and in the evening. From FAAN records, the first cash of N724, 500,000 arrived at Akure Airport at an estimated time of 9.38am and the second was at 17.57hours. A bullion van was brought by Zenith Bank to the tarmac at the airport in Akure to evacuate the cash to Zenith Bank at Plot 13, Alagbaka Estate, Akure. Obanikoro handed over the funds to Fayose’s associate, Abiodun Agbele (alias Abbey). This Abiodun in company with the bank officials moved the money to Zenith Bank in Akure.”
The EFCC gave details of how the N1, 219, 490,000 was shared to Fayose and others by Agbele.”
The document said: “The N1, 219, 490,000 was not deposited in any account but it was kept in a vault in the bank. It took the bank officials about 10 days to count. The bankers refused to make entry until it was counted. Shortly after confirming the figure, Abiodun was used to coordinate the disbursement of the funds. On June 26, 2014, the wanted associate (Abiodun Agbele) paid N137million into Ayodele Fayose’s account 10003126654 with Zenith Bank through Teller-0556814. Fayose’s BVN on the teller is 22338867502. On August 22, 2014, he paid N50million into the same account. By the records from the bank, Abiodun paid another N118, 760,000 into Fayose’s account on 27/8/14. Based on the transfers, Fayose moved N300million to a Fixed Deposit Account No 9013074033 with Zenith Bank at 15, Olusola Abiona Street, Olorunda Estate, Alapere Ketu. He has the same BVN-22338867502. After that, Abiodun deposited another N100million from the N1, 219, 490,000 into Spotless Hotel Account run by Fayose and Helen Olayemi Fayose with Account No. 1010170969, Fayose’s BVN is 223338867502 and Helen’s BVN in the account is 22298990256. The governor and Helen are the two directors and signatories of Spotless Hotel account”
In the course of the investigation, the EFCC officials investigated how De Privateer Limited, a company owned by Abiodun Agbele, with Account No. 1013835889 received N219, 490,000 on June 18, 2014.
“On June 19, 2014, the same account received N300million and another N200million on June 23, 2014. The BVN of the account is 22235692890.
A top official of the EFCC said: “Fayose benefited from the ONSA slush funds when he was yet to be a governor. So, the fact that he has immunity now as a governor does not mean we should not investigate him. The EFCC also has the right to interact with all those connected with the illegal withdrawal of public funds and the diversion of the cash.”
The antigraft agency says it will soon be inviting Fayose’s aide for questioning
“We will invite him for interrogation; we have already initiated the process.”
A Home for Heritage: ILÉ IYÁN Opens Headquarters to Celebrate Nigerian Roots
ILÉ IYÁN, a proudly Nigerian culinary brand, has officially unveiled its state of the art headquarters with a 200 guest capacity facility. The grand opening ceremony not only marked a milestone in the company’s growth but also paid tribute to Nigeria’s rich cultural heritage, drawing attention to the role of indigenous cuisine and tradition in promoting tourism across Lagos State.
The historic launch of the ILÉ IYÁN Headquarters held on Sunday the 11th May, 2025, now officially recognized as a national monument, took place in grand style, marking a significant milestone in the celebration and preservation of Nigerian cultural heritage and a major boost to the tourism industry.
The atmosphere was electric as the official opening ceremony of Ile Iyan’s new edifice commenced with a symbolic ribbon-cutting by the proud parents of the CEO, Alhaji and Alhaja Sanni. The emotional moment was met with cheers and applause from attendees, marking a significant milestone in the brand’s journey.
In a heartfelt speech, the CEO’s mother Alhaja Sanni shared her immense joy and pride in her son’s achievements. “I never imagined this day would come so soon. He defied all odds and has made us proud,” she said, her voice filled with emotion.
Celebrating Nigeria’s cultural richness, the event featured vibrant performances by Yoruba, Igbo, and Hausa cultural troupes. Dressed in colourful traditional attire, the troupes dazzled the audience with electrifying dances that underscored the Ile Iyan brand’s commitment to promoting indigenous cuisine and cultural values.
The event was graced by notable dignitaries, including Lagos State Commissioner for Agriculture, Hon. Abisola Olusanya; Commissioner for Youth and Social Development, Hon. Mobolaji Ogunlende; Special Adviser to Governor Sanwo-Olu on Culture and Tourism, Mr. Idris Aregbe; SSA on New Media, Mr. Jubril Gawat; Hon. Remi Durojaiye; Engr. Bola Babarinde; Prince Olu Kosoko of Badagry, Guiness World Record Holder, Dr Fola David; Mr Chigozie Okwara, Vice President of Culinary Arts Practitioners of Nigeria,Chef Dee; Culinary expert and Hospitality Consultant, Chef Gibbs; CEO of Novarick Homes and Properties Limited Mr Noah Ibrahim; Barrister Lateef Oyefeso, Barrister Gbolahan Oluyemi, Alhaji Mohammed Luqman, Alhaji Mojeed Animashaun, Alhaji Qudus Animashaun, Mr Emmanuel Akinseloyin, Alhaja Onigbanjo, Captain Dare, Alhaji Luqman Obileye, Mr Fola Gbemisola(Fatgbems), Mr Taiwo Kafidipe, Mr Ihuoma Raymond, the iconic music executive and cultural ambassador, Otunba Dayo Adeneye (D1) of Kennis Music, alongside Dr. Agarawu, numerous captains of industry, and cultural enthusiasts.
ILÉ IYÁN, long revered for its authentic celebration of Yoruba gastronomy particularly the traditional preparation of pounded yam has now been elevated to a symbol of national pride, serving as a cultural hub that connects history, heritage, food, and tourism. With its headquarters now officially open, ILÉ IYÁN is positioned as a dynamic force in reviving indigenous food practices, promoting cultural tourism, and offering immersive experiences rooted in Nigerian traditions.
In her keynote address, Mrs. Bisola Olusanya praised the initiative, stating: “ILÉ IYÁN is not just a space for food, it is a celebration of our roots, our resilience, and our creativity as Nigerians. This headquarters will play a vital role in our agricultural value chain while preserving culinary heritage for future generations.”
Hon. Mobolaji Ogunlende emphasized the importance of youth engagement in cultural sustainability, while Hon. Idris Aregbe lauded ILÉ IYÁN as a “trailblazer in cultural entrepreneurship,” bridging the gap between tradition and innovation.
Mr. Sanni Afeez, General Manager of ILÉ IYÁN, Shares His Thoughts on the Launch
Speaking at the launch, the General Manager, Mr. Sanni Afeez, expressed his excitement and optimism about the future of the brand.
“This launch represents more than just a new building, it’s a bold step toward redefining the culinary and cultural experience in Nigeria,” he said. “ILÉ IYÁN is not just a restaurant; it’s a celebration of who we are as a people. From our locally inspired menu to the cultural performances that marked today’s opening, we are showcasing the beauty, depth, and unity of Nigerian heritage. This headquarters will serve as a hub for not only great food but also for cultural exchange and tourism growth in Lagos.”
Founder, CEO, and cultural curator of ILÉ IYÁN, Mr. Sanni Sheriff, shared a powerful message during the launch event, emphasizing the deeper vision behind the brand.
“This is not just a building; it is a movement,” he declared. “A space where the stories of our people, our food, and our shared heritage are honored and preserved.”
Mr Sanni Sheriff, known for his passion for cultural preservation and storytelling through cuisine, reiterated his commitment to creating a space that celebrates Nigeria’s diverse identity, promotes local tourism, and empowers future generations to take pride in their roots.
With this launch, ILÉ IYÁN cements its place as a cornerstone of Nigeria’s cultural renaissance and a must-visit destination for locals and tourists alike.
EKAABO SI ILÉ IYÁN
EYIN OLOLUFE WA
For ILÉ IYÁN dining experience and food delivery kindly visit or contact any of our locations
ILÉ IYÁN HEADQUARTERS
4A WOLE OLATEJU CRESCENT OFF ADMIRALTY WAY LEKKI PHASE 1
(OPPOSITE KINGFISHER/MARCOPOLO RESTAURANT)
ILÉ IYÁN ANNEX
PLOT 6 DR. MUIZ BANIRE STREET OFF BISOLA DUROSINMI ETTI DRIVE LEKKI PHASE 1
ONLINE FOOD DELIVERY KINDLY CONTACT: 09024475402
FOR RESERVATIONS KINDLY CONTACT 09075603234 or simply send an
Email: ileiyan234@gmail.com
Our social media channels are
Instagram: @ileiyan_ng
Facebook : ILÉ IYÁN NG
Twitter: @ileiyan_ng
Business
Folake Ani-Mumuney: A Visionary Leader and Inspiration to Many Celebrates Her Birthday In Grand Style … A Testament to Unwavering Excellence
Folake Ani-Mumuney: A Visionary Leader and Inspiration to Many Celebrates Her Birthday In Grand Style
… A Testament to Unwavering Excellence
~By Oluwaseun Fabiyi
Folake Ani-Mumuney, you never know, she served as the Head of Marketing, Corporate and Communications at First Bank of Nigeria and remained central to the Bank’s brand for decades.It’s not surprising that a significant number of Nigerians were unaware of her value in brand, marketing, and corporate communications, since she is an outstanding trailblazer and media guru.
Describing her as a brand in her own right would be a significant understatement, as she personifies prudence and consonance in supporting individuals’ aspirations, particularly during her time at First Bank of Nigeria, where she consistently delivered exceptional results, adding positive value to all media partnerships without blemish, and her legacy remains exceptional and unblemished to this day.
It is a pleasure to celebrate Mrs Folake Ani-Mumuney’s special birthday with her family.Ma, as we commemorate this momentous occasion, we acknowledge the profound influence your life has had on those around you. May you be grateful for the love, support, and blessings you’ve received, and may you continue to be a source of inspiration and joy to all who know you..
It is a pleasure to join your family, friends and well-wishers in celebrating this momentous occasion, and I wish you a birthday filled with affection, merriment and every delight.
On this special day, as you celebrate another year of life, may the Almighty continue to shower His blessings upon your new age, granting you increased success, grace, favor, mercies, and enduring blessings, and from this day forward, all reports and testimonies concerning you and your household shall be extraordinarily positive.
Your exceptional attributes have secured a prestigious position for you among your peers in the realm of Brand and Marketing Communications, and I encourage you to uphold this exemplary standard, ma’am. I wholeheartedly pray that God will continue to bestow His blessings upon you and be gracious and kind to you now and forever. I wish you many happy returns, ma’am. Igba odun, odun kan ni o.
Oluwaseun Fabiyi a seasoned journalist based in Lagos
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