news
Stolen N2.1bn Found In Heritage Bank’s Vault Plus + multibillion Naira Lootings
The Special Presidential Investigation Panel (SPIP) for the Recovery of Public Property has recovered seven million Dollars ($7 million) Or (₦2.1 billion at official rate) illegally kept in Heritage Bank.
Chairman of the panel, Mr Okoi Obono-Obla, disclosed this while briefing President Muhammadu Buhari on activities of the panel.
The panel has also recovered ₦533 million and land worth N1.5 billion, from the “Previous Management” of NEXIM Bank.
The recovered funds and property had since been returned to the bank.
The panel has also recovered and returned to the National Theatre, ₦24 million which was diverted by some directors of the agency.
Also recovered, were 2 hectares of land in Abuja valued at over N2 billion, belonging to the National Council of Arts and Culture.
The panel went on and recovered and returned a part of Agura Hotel belonging to the Nigerian Ports Authority (NPA). The recovered part of the hotel had been illegally “annexed by some so-called powerful persons with untouchable connections for over 20 years”.
Other recoveries by the SPIP, according to Obono-Obla, are 19 official Sports Utility Vehicles allegedly made away with by former Commissioners of the National Population Commission after their tenures in office.
He said the panel had charged a former Director in the Federal Ministry of Power, Works and Housing to court for failure to declare his assets. The assets include houses in upscale areas of Abuja, a quarry and a farm within the Federal Capital Territory, for which a court has granted an interim forfeiture order.
The SPIP is also investigating some members of the National Assembly and former governors for a range of alleged offences. These include illegal purchase of designated official residences for principal officers of the National Assembly excluded from the monetisation policy at giveaway prices.
Others are purchase of several properties worth hundreds of millions in various currencies, and flagrant abuse of office thus causing financial adversity to the nation.
Mr. Obono-Obla said the SPIP was partnering with the United Kingdom’s Home Secretary to ensure that some public officers “perceived to have looted public funds and illegally acquired assets both in Nigeria and the UK”, were prevented from entering that country.
The SPIP chairman equally told the President that the panel was beaming its searchlight on several companies for a wide range of alleged offences. Some of the companies, he said, are
Celtel, for alleged tax evasion since 2005;
Western Oil and Gas, for illegally drilling crude oil in Delta, and seven others for alleged failure to pay royalties to the Federal Government in about 10 years.
He said some multinational oil companies based in Egi Kingdom, Rivers, were also being investigated for allegedly conniving with unscrupulous individuals to dodge their obligations to the community to the tune of ₦38 billion and $30 million
Also under investigation by the panel is another company, which has failed to fulfil its contractual agreement to dredge the Calabar Channel, years after receiving $12 million.
The panel has also compiled a list of over 200 past and serving public officers perceived to have illegally enriched themselves at the expense of the nation and the Nigerian people, among others,” Obono-Obla said in the briefing.
Pres. Buhari, assured the panel of his continued support and non-interference in line with his administration’s stance on the anti-corruption fight.
Obono-Obla said the panel would remain committed to its mandate, in addition to complementing the Federal Government’s fight against corruption.
He solicited the continued support of Nigerians to the panel with useful information that would lead to the recovery of looted public assets.
The News Agency of Nigeria (NAN) recalls that the panel was inaugurated by the then Acting President Yemi Osinbajo in August 2017.
The Lagos State Government, in its continued effort to promote cultural heritage and deepen tourism footprints, has concluded plans to host the Lagos Cultural Weekend.
A three-day cultural extravaganza, scheduled to take place across multiple strategic locations, including the J. Randle Centre for Yoruba Culture and History, Freedom Park, National Theatre, Badagry Heritage Museum, Lekki Arts and Crafts Market, and Tafawa Balewa Square, from November 14th to November 16th, 2025.
This weekend-long celebration will spotlight the richness of Nigeria’s traditions through curated events that blend history, culture, and local artistry.
Speaking on the initiative, Special Adviser to the Governor on Tourism, Arts, and Culture, Mr. Idris Aregbe, noted that the event is a key part of a broader framework of the Lagos Cultural Mission.
“We aim to use the Lagos Cultural Weekend as a true reflection of Lagos culture, a herescope for tourists and visitors from across the globe to witness just how rich our culture is.
“The three days will be a cultural baptism, a deep, meaningful introduction to who we are. As a government, we now understand prioritising cultural representation as a driver for economic growth.
”On the initiative’s impact, the Special Adviser explained that it goes beyond showcasing culture, but investing in cultural artisans, talented enthusiasts, and key stakeholders to foster real engagement and growth.“Governor Babajide Sanwo-Olu’s administration values collaboration and inclusiveness, which is why we want to work closely with Lagosians who truly understand our culture to help us achieve these goals.
“From the historians, to creatives, curators, artisans, culinary experts, performers, fashion designers, community leaders, and traditional institutions, we need them to join us in making a lasting impact.“So that, in the end, our guests and friends from many nations will carry home an authentic story of Lagos and enriched cultural literacy,” Mr. Aregbe said.
Attendees will enjoy array of activities, including live music performances, DIY sessions, contemporary art exhibitions, traditional dance showcases, fashion shows, culinary tastings, and craft demonstrations.
Also lined up are symposiums and cultural lectures designed for tourists and enthusiasts who wish to dive deeper into the Lagos cultural identity.
The weekend will be animated by diverse local performance groups representing the rich ethnic landscape of Lagos, with a special emphasis on language, literature, and indigenous storytelling.
Lagos Cultural Weekend 2025 reaffirms the state’s commitment to building a thriving creative economy while celebrating the depth of Nigerian traditions.
Through strategic partnerships, corporate sponsorships, and community engagement, this initiative will set a new benchmark for inclusive cultural programming in Lagos and Africa at large.
Lagos Cultural Mission….Preserving Our Heritage, Advancing The Future
Aare Adetola Emmanuel King Congratulates Hon. Adesola Ayoola-Elegbeji on Election Victory
The Chairman/CEO of Adron Group, Sir Aare Adetola Emmanuel King KOF, has congratulated Hon. Adesola Ayoola-Elegbeji on her resounding victory in the just-concluded by-election for the Remo Federal Constituency seat in the House of Representatives.
In a goodwill message issued by him, he described the victory as “a historic moment for the Remo people, coming at a time when the constituency yearns for a leader with vision, courage, and genuine commitment to service.”
He noted that the outcome of the election was an attestation to the trust and confidence reposed in Hon. Ayoola-Elegbeji by the people, adding that her sterling qualities, integrity, accessibility, and compassion for the grassroots had endeared her to the electorate.
“The overwhelming support you garnered at the polls is proof that you are the right voice at the right time to carry the aspirations of Remo to the national stage,” he stated.
While acknowledging that the by-election followed the painful demise of the late Hon. Adewunmi Oriyomi Onanuga (Ijaya), Aare Adetola Emmanuel King said Hon. Ayoola-Elegbeji’s emergence symbolizes the continuity of purposeful representation. He expressed confidence that she would not only sustain the legacy of her predecessor but also surpass it with new energy, innovative ideas, and progressive leadership.
The Adron Group Chairman further prayed for divine wisdom, strength, and compassion for the Member-Elect as she assumes office, expressing confidence that her tenure will usher in meaningful development, economic empowerment, and greater opportunities for the people of Remo Federal Constituency.
Olowu Celebrates Former Military President, Ibrahim Babangida, At 84
Olowu of Kuta, HRM Oba Dr Hammed Oyelude Makama, CON, Tegbosun III, has congratulated former military president, Gen Ibrahim Badamasi Babangida, rtd, who is 84 today.
Olowu, in a statement he signed, eulogised the former military ruler for his modest achievements while he was in power.
According to Olowu, ” IBB is an enigma. He has carved a niche for himself as a former military president. His tenure witnessed the completion of many monumental legacy projects that are still visible today. His Hill Top Mansion in Minna has become a Mecca of sorts for those who aspired to lead Nigeria.”
Olowu, who described Gen Babangida as being grossly misunderstood, said history would be kind to him.
He said, “The launch of Gen Babangida’s Autobiography: ‘A Journey In Service’, and the testimonies from the likes of President Bola Ahmed Tinubu and Africa’s richest man, Aliko Dangote, Tony Elumelu, Jim Ovia, Abdusalam Rabiu, Oil Magnate, Arthur Eze, and many others, testified to his goodwill despite leaving public office three decades ago.
” On behalf of myself, my Oloris and Olowu-In-Council.
All members of the defunct IBB Vision 2003 and Vision 2007, I wish President Ibrahim Babangida, rtd, a happy birthday. I also wish him all the best as he aged gracefully,” Olowu added.
Born on August 17, 1941, Gen Ibrahim Babangida, rtd, ruled Nigeria from 1985 to 1993.
His presidency was marked by significant political and economic reforms.
-
society5 months agoRamadan Relief: Matawalle Distributes Over ₦1 Billion to Support 2.5 Million Zamfara Residents
-
Politics2 months agoNigeria Is Not His Estate: Wike’s 2,000‑Hectare Scandal Must Shake Us Awake
-
society4 months agoBroken Promises and Broken Backs: The ₦70,000 Minimum Wage Law and the Betrayal of Nigerian Workers
-
society3 months agoOGUN INVESTS OVER ₦2.25 BILLION TO BOOST AQUACULTURE
You must be logged in to post a comment Login