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‘I gave N2.3billion to Governor Fayose in 2014’ – Obanikoro Confesses

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A  former Minister of State for Defence, Senator Musiliu Obanikoro, has told the Economic and Financial Crimes Commission that he gave the sum of N2.3bn to the Governor of Ekiti State, Ayodele Fayose, in the run-up to the Ekiti State governorship election in 2014.

Obanikoro was said to have also told operatives that N60m was converted to dollars at N168 per to a dollar and given to Fayose.

The PUNCH learnt on Tuesday that the minister told operatives of the anti-graft commission, who continued his interrogation in Abuja on Tuesday, that he personally handed over N5,357,357 to the governor on an occasion.

A top operative of the commission, who spoke to our correspondent on condition of anonymity, said Obanikoro told his interrogators that the money was transferred to Fayose on the instruction of the former National Security Adviser, Col. Sambo Dasuki, (retd.).

The source alleged that following the instructions from the former NSA, the sum of N1.3bn was brought for transfer to Fayose by Diamond Bank in a bullion van.

Obanikoro was also said to have told the EFCC operatives that Agbele received the money in the presence of the ex-minister’s Aide De Camp, one Lt. Adewale, and officials of Diamond Bank at the Lagos airport.

The source added, “The former minister, Obanikoro has made some revelations. You know that he responded to a petition from the office of the NSA dated 28/11/2015 under the category ‘Payment without award of contracts’.

“He admitted that N2.23bn was transferred to Macnamara for onward transfer to Governor Ayodele Fayose. He claimed that it was done on the instructions of the NSA.

“He also said he handed over N5,357,357 to Fayose.

“Obanikoro told the commission that the N1.3bn was received by Mr. Biodun Agbele, one of Fayose’s associates, in the presence of his (Obanikoro) ADC, one Lt. Adewale, and bank officials.”

The former minister was said to have told his interrogators that while he had no interaction with the officials of the bank, he called Fayose to have his consent to hand over the money to Agbele.

The source stated that Obanikoro also told his interrogators that Agbele used his (Obanikoro) mobile to speak to Fayose to confirm receipt of the money.

“Obanikoro also said the money was moved from the Lagos airport to Akure airport in two flights.

“He said he instructed that the money be handed over to the governor before leaving with the first flight,” the source said.

The source said the ex-defence minister, however, denied ownership of Sylvan Mcnamara, the company that received N4.685bn from the ONSA between April 4, 2014 and November 13, 2014.

The anti-graft agency had alleged that Obanikoro’s sons, Babajide and Gbolahan, were directors in Sylvan Mcnamara as of the time the money was paid into the company’s account.

The former minister was quoted to have admitted that he introduced the owner of the firm, whose name was given as Mr. Kareem Taiwo, to the former NSA in the days of heightened fear of possible Boko Haram attacks on Lagos and the South-West.

The source stated, “He denied being the owner of the company but admitted introducing the owner of the company, one Mr. Kareem Taiwo, to the NSA during the days of the threat of Boko Haram in Lagos and the South-West.

“He said the company was introduced to the ONSA at a time government was taking a decision to incorporate local input into intelligence gathering to prevent terrorists attacks in Lagos and the South-West.”

The PUNCH learnt that the former minister was being questioned by the commission for receipt of funds from the ONSA without contract awards.

The firm, which received the money from the ONSA, Mcnamara, was said to be listed as number 78 among companies that received funds from the ONSA.

Our correspondent learnt that Obanikoro was still being detained by the EFCC as of the time of fling this report on Tuesday night  to continue with the agency’s investigations on Wednesday.

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Precision and Heritage: How Fifi Stitches Is Rewriting African Fashion Narratives

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Precision and Heritage: How Fifi Stitches Is Rewriting African Fashion Narratives

 

 

A Nigerian-born designer is gradually carving out a cross-continental footprint in contemporary fashion, blending African textile heritage with British technical discipline.

 

Esther Fiyinfoluwa Adeosun, Founder and Creative Director of Fifi Stitches, is gaining recognition for structured womenswear and bridal couture that reinterprets traditional fabrics through architectural tailoring and precision construction.

 

Born in Ibadan, Oyo State, Adeosun’s fashion journey began at home, seated beside her mother’s sewing machine. What started as childhood curiosity, sometimes jamming the machine just to understand its mechanics—evolved into a disciplined design practice now operating between Nigeria and the United Kingdom.

 

During an interview with journalists the fifi Stitches once mentioned “I was fascinated by how flat fabric could transform into something structured and meaningful”.

 

In her Story , early designs made for her family, though imperfectly finished, were worn with pride—an encouragement that laid the foundation for her professional confidence.

 

Today, Fifi Stitches is recognised for sculpted bodices, controlled tailoring, corsetry construction, and the contemporary reinterpretation of Ankara, Aso Oke, and Adire textiles.

 

The brand challenges the long-held perception that African fabrics belong solely in ceremonial contexts, instead positioning them within global luxury and modern design spaces.

 

Adeosun’s training reflects this dual perspective. She studied Fashion Design and Entrepreneurship at the Institute for Entrepreneurship and Development Studies, Obafemi Awolowo University, and earned a Diploma in Fashion Design through Alison Online.

 

In the UK, she undertook industry-focused technical training with Fashion-Enter Ltd and gained fashion business exposure through Fashion Capital UK.

 

Her technical expertise spans pattern drafting, draping, garment technology, structured tailoring, corsetry, and bespoke fittings—skills she describes as central to credibility in fashion. “Precision builds trust,” she says. “A designer must understand construction as deeply as creativity.”

 

Fifi Stitches has showcased collections at the Suffolk Fashion Show, Liverpool Fashion Show – FB Fashion Ball, Red Carpet Fashion Event in London, and through editorial features in London Runway Magazine.

 

The brand has also received coverage in The Guardian Nigeria and Vanguard Allure, expanding its visibility across markets.

Beyond couture, Adeosun integrates community impact into her practice.

 

She has facilitated garment construction workshops, draping sessions, and introductory training programmes for women and emerging creatives, promoting fashion as both artistic expression and vocational empowerment.

 

 

Fifi Stcithes Boss operates between Nigeria and the UK, in order to continue to shape her brand identity.

 

 

According to her “Nigeria provides cultural richness and expressive textile traditions, while the UK offers structured production systems, sustainability conversations, and institutional frameworks”.

 

Looking ahead, Adeosun said she plan to establish a fully structured fashion house spanning Africa and the UK, develop scalable production partnerships, launch capsule collections, and expand independent editorial visibility.

 

Her broader ambition is clear: to position African textile craftsmanship within global contemporary design conversations—through structure, discipline, and technical excellence.

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GTCO Launches “Take on Squad” Hackathon 3.0, Opens Call for Applications 

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GTCO Launches “Take on Squad” Hackathon 3.0, Opens Call for Applications 

 

 

Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has announced the launch of “Take on Squad” Hackathon 3.0, reaffirming its commitment to fostering innovation, empowering talent, and supporting the development of technology-driven solutions that address real-world challenges across Africa.

Now in its third edition, the Hackathon brings together developers, designers and entrepreneurs across Nigeria in a collaborative environment to build practical solutions across key sectors including financial services, healthcare, commerce and digital inclusion. Under the theme “Smart Systems: The Intelligent Economy,” participants are challenged to design and build intelligent, data-driven solutions that transform how communities engage with money.

Applications are now open, and interested teams can find full guidelines and registration details on the official portal at https://squadco.com/hackathon.

Speaking on the initiative, Eduophon Japhet, Managing Director of HabariPay, stated: “Today’s dynamic, digitally driven world demands continuous innovation, which is shaping how economies grow, how businesses scale, and how societies evolve. Through “Take on Squad” Hackathon, we are deliberately investing in the ideas and talent that will define the future. Our objective is not simply to encourage innovation, but to enable its translation into scalable solutions that deliver real and measurable impact. This reflects GTCO’s role as a financial services platform that connects capital, capability, and creativity to drive sustainable progress.”

The social coding event remains a cornerstone of HabariPay’s mission to foster creativity and problem-solving among emerging tech talents. Competing teams will leverage Squad’s advanced APIs to create scalable digital tools that address everyday challenges faced by businesses and individuals.

Through initiatives such as this, GTCO continues to position itself at the intersection of finance, technology and enterprise, actively shaping the future of digital transformation in Africa.

 

About HabariPay

HabariPay Ltd is the fintech subsidiary of Guaranty Trust Holding Company Plc (GTCO), one of the largest financial services institutions in Africa with direct and indirect investments in a network of operating entities located in 10 countries across Africa and the United Kingdom.

Licensed by the Central Bank of Nigeria (CBN), our goal is to support SMEs, micro merchants, large corporations and other fintechs (Tech Stars) with the tools they need to thrive in an evolving digital economy and expand beyond their current market reach. HabariPay’s solutions include Squad, a full-scale digital payments toolkit to make in-person and online payments simpler, HabariPay Storefront, an e-commerce website to facilitate online purchases, Value-Added Services to help merchants access cost-effective and flexible airtime and data bundles to run their businesses, as well as a switching infrastructure that enables tech-focused businesses to optimise cost and make transactions more efficient.

HabariPay’s contributions to Accelerating Digital Acceptance in Africa have not gone unnoticed–it received Mastercard’s Innovative Mobile Payment Solution Award at TIA 2022 for its innovative payment solution, SquadPOS.

About Squad

Squad is a complete digital payments solution that is reliable, secure, and affordable, making receiving in-person and online payments simpler and convenient.

Thousands of merchants currently leverage Squad’s payment solutions for their daily business operations. Squad’s current products and service offerings include SquadPOS, Squad Payment Links, Squad Virtual Accounts, USSD, and E-Commerce Storefront.

Find out more at www.squadco.com.

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Electric 8-Seater Tula Moto Keke Enters Nigerian Market, Targets Higher Operator Earnings

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Electric 8-Seater Tula Moto Keke Enters Nigerian Market, Targets Higher Operator Earnings

 

 

LAGOS — A new electric-powered tricycle with an expanded passenger capacity has been introduced into Nigeria’s urban transport sector, offering operators a potentially more profitable and eco-friendly alternative to conventional petrol-driven “keke.”

 

The newly launched 8-seater electric tricycle, now available in Lagos with plans for nationwide distribution, features a dual-row seating arrangement capable of accommodating up to eight passengers per trip—significantly higher than the standard three-passenger configuration common across the country.

 

 

Promoters of the innovation say the increased capacity is designed to boost daily earnings for operators, particularly amid persistent fluctuations in fuel prices. By running entirely on electric power, the vehicle eliminates dependence on petrol, reducing operating costs and shielding drivers from fuel price volatility.

 

 

According to the distributors, the tricycle is equipped with a durable battery system capable of covering extended distances on a single charge, making it suitable for commercial operations across high-traffic routes, residential estates, campuses, and marketplaces.

 

“The concept is straightforward—enable drivers to earn more while spending less,” a company representative stated. “With higher passenger capacity and zero fuel requirements, operators can maximise each trip without the burden of daily fuel expenses.”

 

Beyond its cost-saving potential, the electric keke is also said to require less maintenance than traditional models, offering additional long-term savings. Its quieter and smoother operation is expected to enhance passenger comfort and overall commuting experience.
Industry analysts note that the introduction of electric mobility solutions reflects a growing shift toward cleaner and more sustainable transportation alternatives in Nigeria, particularly in densely populated urban centres such as Lagos.

 

 

The distributors added that the product is currently available under a limited promotional offer, with delivery options across the country.

 

For inquiries and purchase: 📞 08153432071
📞 08035889103
Office Address:
📍 Plot 9, Block 113, Beulah Plaza,
Lekki–Epe Expressway,
Lekki Phase 1, Lagos

 

As transportation costs continue to rise and environmental concerns gain prominence, innovations like the electric 8-seater keke may signal an emerging transition toward more efficient and sustainable mobility solutions nationwide.

 

Electric 8-Seater Tula Moto Keke Enters Nigerian Market, Targets Higher Operator Earnings

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