Business

REVEALED!!! How Youngest Kogi state Governor, Yahaya Bello lavished over N260million on security votes after assuming office

Published

10 years ago

May 13, 2016

Barely a week after he became governor of Kogi State, Yahaya Bello approved for himself a total of N260 million as security votes, as reported by PREMIUM TIMES today.

Mr. Bello, who is currently Nigeria’s youngest governor, was sworn into office at an elaborate ceremony on January 27 after his party, the All Progressives Congress, APC, fielded him as replacement for its former candidate, Abubakar Audu.

Mr. Audu was in clear lead in the November 21, 2015 governorship poll but suddenly died before the Independent National Electoral Commission (INEC) concluded the election.

Mr. Bello was fielded as the APC replacement during the rerun poll in some areas of the state. His candidacy was fiercely opposed by the deputy governorship candidate of the party, James Faleke.

On Mr. Bello’s first day in office, the Permanent Secretary in the Government House, Ilemona John, initiated a memo titled, “Request For Security Fund”.

In the document, Mr. Bello was requested to approve N15 million as his security fund.

He approved the payment of the fund two days later, on January 29.

The Government House Permanent Secretary raised yet another memo just four days later on February 2, with a fresh request for security fund. This time, the amount was jerked to N20 million.

The governor did not waste time as he gave prompt approval for the release of the funds on the same day.

It however became apparent that the money was not enough because Mr. John again raised another memo for the release of more security funds the following day, February 3.

In the new memo, Mr. Bello was requested to approve the “release of the sum of Five Million naira (N5, 000,000, 00) only for the replenishment of your Excellency’s security fund which has just been exhausted.”

Mr. Bello granted approval immediately.

Not done, the permanent secretary who is a Reverend Pastor, quickly returned with another request on the same day (February 3, 2016) seeking Mr. Bello to release another “N20 million for the replenishment of his security fund which has just been exhausted.”

The governor did not hesitate to give the approval for the release of the funds.

Five days later, on February 8, the Permanent Secretary, again initiated a memo indicating that Mr. Bello’s security fund had yet again been exhausted and sought approval for N100 million to be released to “replenish” it.

Governor Bello granted approval the following day, February 9.

A few hours later on February 9, Mr. John raised another memo informing his principal that the security fund he approved hours earlier had been exhausted and that he needed to approve another N100 Million.

Mr. Bello readily granted approval on the same day.

PREMIUM TIMES cannot say exactly how much has so far been spent as security funds, but documents obtained so far indicate that between January 27 and May 12, Kogi State taxpayers could have coughed out billions to their profligate governor.

N148 Million for furnishing and renovation of office

While Mr. Bello was drawing millions under security funds, he also approved over N148 million to furnish and renovate his office at the Government House.

For this, Mr. John, the Government House permanent secretary, as usual, came up with another memo on February 1.

The memo was titled, “Request for the furnishing and maintenance of the Governor’s Office, Kogi State Government House”.

In it, Rev. John requested the governor to approve N99, 983, 994.00, being a proposal by a company, Maj Global Construction Company Ltd, for the furnishing and renovation of the governor’s office.

Mr. Bello promptly granted approval on the same day the request was made.

However, Rev. John returned a month later on March 4, with a memo telling the governor that the over N99 million he earlier released for the furnishing and renovation of his office, was not enough.

He, therefore, requested the governor to release additional N48, 593, 250.00 “for additional works on the renovation/furnishing and maintenance of the governor’s office at Kogi Government House”.

Governor Bello gave approval on the same day the request was made.

PREMIUM TIMES also obtained copies of the document detailing the release of the fund approved for the furnishing and renovation of the governor’s office.

The first document dated February 4, from the Ministry of Finance and Economic Development showed that the sum of N99, 983, 994.00 was released as “Grant/ Special imprest in favour of the perm secretary in the Government House Administration”.

The other document, dated March 9, was also for the release of N48, 593, 250.00 as “Grant/Special imprest in favour of the permanent Secretary, Government House Administration to cover additional works for the furnishing and maintenance of the Governor’s office at Kogi Government House”.

While the governor engaged in a spending spree for his luxury, state workers and pensioners remained unpaid for months.

Analysts believe that while Kogi State has had a flicker of militant activities by members of the Boko Haram group, the state has remained largely a relatively peaceful state.

Mr. Bello’s defence

When PREMIUM TIMES contacted the spokesperson to the governor, Kingsley Fanwo, he confirmed the spending but said they were necessary.

“It is public knowledge that Kogi State has been contending with serious security breach for the past 10 years,” Mr. Fanwo said.

“As a result of the location of the state as gateway to many states of the federation, the state drifted into a criminal hotbed.

“Also, years of gross maladministration and blinding embezzlement has left the youth bare, exposing them to all sorts of criminal activities to survive. Kogi became a haven of robbers and kidnappers.”

As a responsible government, he argued that the Yahaya Bello administration has taken security to the front burners by strengthening the state’s security architecture in order to make it inhabitable for hoodlums and criminal elements.

Because of his principal’s huge investment, he said security in the state had greatly improved while however, adding that “security vote is not usually a subject for public consumption and no cost can be higher than human lives.”

He said Governor Bello would continue to prioritize security because it was one of the main objectives of his election.

Continuing, he said, “Let me also put on record that the Governor Yahaya Bello administration is contractually committed to fighting corruption and enthroning transparency in the polity. These are the terms of his social contract with the Kogi people.”

“If you have ever been to the Kogi State Government House in Lokoja, you will appreciate the rot of the architecture. It was not befitting of one of the most historic Government Houses in Nigeria.

“In tandem with the present administration’s drive to turn the economy of the state to a private sector driven one, we need to start our charity at home. People must love to come to our Government House to transact businesses.”

For these reasons, he said the Government House was undergoing massive renovation to make it habitable and to mirror the image of the state as a first-rated tourist destination.

Being what he described as “an accomplished business mogul” who believes he assumed power by the grace of God, he said Mr. Bello had always reiterated his determination, not only to block corrupt practices, but to also ensure corrupt officials of government were made to face the wrath of the law.

To underscore its transparency, he said the administration opened its account books to the people of the state.

Besides, he said the governor constantly briefed the media on the income and expenditure of government.

“Massive constructions are ongoing in the state and the Governor is focused on ensuring transparent and active performance of this year’s budget,” the governor’s spokesperson said.

“The antics of our opponents will be judged by the people of the state who are already witnessing the benefits of the New Direction Programs. The bulwark of the Yahaya Bello administration is transparency.”

Bank

WEMA BANK CELEBRATES 81ST ANNIVERSARY AND 9TH ANNIVERSARY OF ALAT

Published

1 day ago

May 2, 2026

Sahara Weekly

WEMA BANK CELEBRATES 81ST ANNIVERSARY AND 9TH ANNIVERSARY OF ALAT

…Set to Reward Hundreds of Customers, Launch 5 for 5 Season 5

Wema Bank, Nigeria’s oldest indigenous national bank, most innovative and pioneer of Africa’s first fully digital bank, ALAT, has simultaneously marked its 81st anniversary and the 9th anniversary of ALAT on Saturday, May 2nd, 2026.

Adopting a different approach from its grand 80th anniversary celebration in 2025, Wema Bank is set to celebrate its 81st anniversary this year by giving back to its customers. The Bank’s anniversary celebration features rewards for customers on the ALAT App in celebration of ALAT at 9 as well as rewards for Wema Bank customers at the launch event for the 5th Season of the Bank’s 5 for 5 Reward Initiative, happening on the Bank’s anniversary day, May 2nd 2026.

In line with the Bank’s 81st anniversary theme, “Your Future of Possibilities, Powered by Wema Bank”, the Bank will also rollout a specialised customer success initiative dedicated to helping different demographics of its customers to map out and build the future of their dreams. From businesses to students, working class women, creatives and more, Wema Bank will provide tailored, practical and strategic insights and support that will help these unique demographics access better opportunities, receive useful support and make accelerated progress towards meeting their goals.

Commenting on the Bank’s motive behind its approach to celebrating its 81st anniversary, Wema Bank’s MD/CEO, Moruf Oseni, said, “The world is rapidly evolving. Digital evolution and emerging technologies continue to present newer opportunities and realities. To thrive, one must be prepared to adapt where needed and ready to leverage the possibilities ahead; and this is what we want to help our customers achieve. With millions of individuals and businesses in our care, we have a deep sense of responsibility towards helping them make meaningful progress and our 81st anniversary presents the perfect opportunity for us to deepen our efforts towards fulfilling that responsibility”.

“We are building a smarter and more secure financial future for our customers, one where banking is effortlessly aligned with their goals, intelligently anticipating their needs and proactively providing the right solutions. Beyond banking solutions, we are curating opportunities, providing platforms, building an entire ecosystem engineered in the best interests of every unique Wema Bank customer. Our goal is for our customers to grow as we grow, to always be one step ahead, and to make accelerated progress towards their future of possibilities as we journey with them”.

“To every stakeholder who has been a part of Wema Bank’s 81-year journey: our investors, regulators, partners, esteemed customers and dearest employees; this anniversary is dedicated to you, and this is why we have chosen to celebrate this way. On behalf of the entire board and management of Wema Bank, I say THANK YOU for 81 historic years. We have, we are, and we will be with you, all the way. Happy 81st Anniversary to us all”, Oseni concluded.

Wema Bank has established a proven track record of empowering lives, supporting businesses and providing tailored solutions that meet real needs. From financial support to digital solutions, unique opportunities and customised service, Wema Bank continues to show that it is a Bank that truly cares, understands and is committed to helping individuals and businesses thrive and achieve their goals.

For more information on how to tap into the rewards curated by Wema Bank, isit wemabank.com

Business

BUA Chairman Abdul Samad Rabiu Rises to Become Africa’s Second Richest Man

Published

3 days ago

April 30, 2026

Sahara Weekly

BUA’s Abdul Samad Rabiu Promises $1.5m Windfall, Goal Bonuses as Super Eagles Fly Past Algeria

BUA Chairman Abdul Samad Rabiu Rises to Become Africa’s Second Richest Man

LAGOS – In a notable reshuffle of Africa’s wealth hierarchy, Abdul Samad Rabiu, Chairman of BUA Group, has climbed to the position of the continent’s second richest individual. The development highlights the accelerating growth of his industrial empire and the increasing global relevance of Nigeria’s manufacturing sector.

Recent valuations show the billionaire businessman overtaking long-standing contenders to secure the number two spot, behind only Aliko Dangote. His rise has been driven largely by the strong market performance of his publicly listed firms, BUA Cement Plc and BUA Foods Plc, both of which have recorded significant gains on the Nigerian Exchange (NGX).

Rabiu’s ascent reflects years of strategic expansion and vertical integration. BUA Cement, Nigeria’s second-largest cement producer, has scaled up operations with new production lines to meet rising infrastructure demand. At the same time, BUA Foods has strengthened its leadership in key segments such as sugar, flour, and pasta, reinforcing its role in regional food supply.

Analysts note that his focus on essential goods has provided stability, helping his businesses maintain steady revenues despite broader economic fluctuations. By prioritizing domestic production, BUA Group has also reduced exposure to external shocks.

Philanthropy and Development Impact

Beyond business, Rabiu has earned global recognition for his philanthropic efforts through the ASR Africa Initiative, a $100 million annual intervention fund supporting education, healthcare, and social development across Africa.

His rise in the rankings is widely viewed as evidence of the power of African-driven industrialization—not only in building wealth but also in delivering meaningful social impact. As Africa’s economic landscape evolves, the shifting billionaire rankings underscore the growing influence of Nigeria’s private sector in shaping the continent’s future.

Bank

ZENITH BANK EXPANDS FRONTIERS WITH CÔTE D’IVOIRE SUBSIDIARY, DEEPENS FRANCOPHONE WEST AFRICA PUSH

Published

4 days ago

April 29, 2026

Sahara Weekly

ZENITH BANK EXPANDS FRONTIERS WITH CÔTE D’IVOIRE SUBSIDIARY, DEEPENS FRANCOPHONE WEST AFRICA PUSH

Zenith Bank Plc has taken a major step in its Pan-African growth journey with the official launch of its Côte d’Ivoire subsidiary, reinforcing its strategic ambition to dominate key markets across the continent.

The grand opening ceremony, scheduled for Wednesday, April 29, 2026, is expected to draw top-tier government officials and regulators from Nigeria and Côte d’Ivoire, alongside leading business executives and members of the diplomatic corps—underscoring the growing economic ties and investment flows between Anglophone and Francophone Africa.

Licensed in December 2025 by Côte d’Ivoire’s Ministry of Finance and Budget and regulated by the UMOA Banking Commission, the new subsidiary will operate from its headquarters at SCI Wall Street, Avenue Noguès, Plateau, Abidjan—one of the region’s most important financial hubs.

The move signals a calculated expansion into Francophone West Africa and positions Zenith Bank as a key financial bridge within the West African Economic and Monetary Union. The subsidiary is designed to drive cross-border trade, offering corporate banking, trade finance, offshore banking, and structured financial solutions tailored to businesses operating across Africa and beyond.

Speaking on the milestone, Group Managing Director/CEO Adaora Umeoji said the expansion aligns with the founding vision of Chairman Jim Ovia to build a globally competitive African bank.

“The launch of Zenith Bank Côte d’Ivoire is a bold step in realising that vision. It opens a strategic corridor into Francophone West Africa and reinforces our commitment to facilitating trade, investment, and enterprise growth across the continent,” she stated.

The subsidiary will be led by Managing Director/CEO Cédric Tano, who brings over two decades of industry experience. He noted that the bank is entering the Ivorian market at a time of strong economic momentum and increasing regional integration.

“Our goal is to position Zenith Bank as a customer-centric institution that blends global best practices with deep local expertise, while supporting businesses with innovative financing and enabling seamless cross-border transactions,” Tano said.

Beyond Côte d’Ivoire, Zenith Bank is accelerating its expansion into Central Africa, with plans underway to enter the Central African Economic and Monetary Community, using Cameroon as a strategic gateway.
With an established presence in multiple markets—including Ghana, Sierra Leone, The Gambia, the United Kingdom, France, the UAE, and China—the bank continues to strengthen its role as a conduit linking African economies to global capital and trade networks.

Founded in 1990, Zenith Bank has evolved into one of Africa’s most formidable financial institutions, maintaining the highest Tier-1 capital position in Nigeria’s banking industry for 16 consecutive years. Built on its core pillars of People, Technology, and Service, the bank has consistently delivered strong financial performance and earned widespread local and international recognition.