Business
”The current administration is fighting Boko Haram with the weapons i acquired – Goodluck Jonathan
Former President Goodluck Jonathan, who is yet to say anything about the On-going probe of his National security adviser over $2.1bn arms procurement scandal has told those anticipating his part of the story that he would, at the “appropriate time”.
He further said the weapons the present administration is using to fight boko haram are the ones he acquired.
At a press conference in Geneva, Switzerland, on Wednesday, Mr. Jonathan emphasised the importance of education in fighting terrorism.
He later tweeted about his readiness to speak on the alleged arms funds mismanagement.
“My voice will certainly be heard at the appropriate time regarding the alleged arms funds mismanagement,” the former leader said.
“I would not want to interfere with the proceeding by the judicial system that my administration worked tirelessly to strengthen.
My post presidential focus is advancing democracy and good governance in Africa.”
Mr. Jonathan later added that the Buhari administration, which is investigating the scandal, is currently fighting Boko Haram with weapons his government purchased.
“G and collectively I am confident we will eradicate them,” he tweeted.
Earlier at the press conference, Mr. Jonathan said lower education levels are linked to poverty and poverty is one of the chief causative factors of crime whether it is terrorism or militancy or felonies.
According to him, there are obviously other dimensions to the issue of insecurity in Nigeria and particularly terrorism, the dearth of access to formal education over years created the ideal breeding ground for terror to thrive in parts of the country.
He added, “Education is one of those issues. If former African leaders can form themselves into an advisory group to gently impress on incumbent leaders the necessity of meeting the United Nations Educational, Scientific and Cultural Organization (UNESCO) recommended allocation of 26% of a nations annual budget on education, I am certain that Africa will make geometric progress in meeting her Millennium Development Goals and improving on every index of the Human Development Index.
“Data has shown that as spending on education increases, health and well being increases and incidences of maternal and infant mortality reduce.”
Mr. Jonathan explained that while in office he began the practice of giving education the highest sectoral allocation beginning with his first budget as President in 2011.
“My policy was to fight insecurity in the immediate term using counter insurgency strategies and the military and for the long term I fought it using education as a tool,” Mr. Jonathan said.
“As I have always believed, if we do not spend billions educating our youths today, we will spend it fighting insecurity tomorrow. And you do not have to spend on education just because of insecurity. It is also the prudent thing to do.
“Nigeria, or any African nation for that matter, can never becomewealthy by selling more minerals or raw materials such as oil. Our wealth as a nation is between the ears of our people.”
The former president said it was no coincidence that the Northeast epicenter of terrorism in Nigeria is also the region with the highest rate of illiteracy and the least developed part of Nigeria.
Explaining that in Nigeria though the federal government does not have a responsibility for primary and secondary education, he could not in good conscience stomach a situation where 52.4% of males in the Northeastern region of Nigeria have no formal Western education.
According to him, the figure is even worse when you take into account the states most affected by the insurgency.
He said, “83.3% of male population in Yobe state has no formal Western education. In Borno state it is 63.6%.
“Bearing this in mind is it a coincidence that the Boko Haram insurgency is strongest in these two states?
“So even though we did not have a responsibility for primary and secondary education going by the way the Nigerian federation works, I felt that where I had ability, I also had responsibility even if the constitution said it was not my responsibility.
“Knowing that terrorism thrives under such conditions my immediate goal was to increase the penetration of Western education in the region while at the same time making sure that the people of the region did not see it as a threat to their age old practices of itinerant Islamic education known as Almajiri.”
Mr. Jonathan noted that for the first time in Nigeria’s history, the federal government which he led set out to build 400 Almajiri schools with specialized curricula that combined Western and Islamic education.
He said 160 of them had been completed before I left office.
“I am also glad to state that when I emerged as President of Nigeria on May 6th 2010, there were nine states in the Northern part of the country that did not have universities,” he said.
“By the time I left office on the 29th of May 2015, there was no Nigerian state without at least one Federal University.”
The former president recounted that the fall of the Gaddafi regime in August 2011 led to a situation where sophisticated weapons fell into the hands of a number of non state actors with attendant increase in terrorism and instability in North and West Africa.
Mr. Jonathan explained that his administration initiated partnership across West Africa to contain such instability in nations such as Mali, which I personally visited in furtherance of peace.
He said, “And with those countries contiguous to Nigeria, especially nations around the Lake Chad Basin, we formed a coalition for the purpose of having a common front against terrorists through the revived Multinational Joint Task Force (MNJTF).
“Those efforts continue till today and have in large part helped decimate the capacity of Boko Haram.”
He also explained that his administration waged the anti-terror was with the effort to improve intelligence gathering capacity, lamenting however that this has not enough attention.
“Prior to my administration, Nigeria’s intelligence architecture was designed largely around regime protection, but through much sustained effort we were able to build capacity such that our intelligence agencies were able to trace and apprehend the masterminds behind such notorious terror incidences as the Christmas Day bombing of the St. Theresa Catholic Church in Madalla, Niger State.
“Other suspects were also traced and arrested including those behind the Nyanya and Kuje bombings.
“Not only did we apprehend suspects, but we tried and convicted some of them including the ring leader of the Madalla bombing cell, Kabir Sokoto, who is right now serving a prison sentence.”
The former president said he would use the newly Goodluck Jonathan Foundation to further democracy, good governance and wealth generation in Africa.
He said, “Of course, Charity begins at home and for the future, what Nigeria needs is to focus on making education a priority.
“Thankfully, the administration that succeeded mine in its first budget, appears to have seen wisdom in continuing the practice of giving education the highest sectoral allocation. This is commendable.
“I feel that what people in my position, statesmen and former leaders, ought to be doing is to help build consensus all over Africa, to ensure that certain issues should not be politicized.”
Business
Landmark Judgment: Federal High Court Dismisses ₦50bn Oil Spill Claim Against ExxonMobil
Landmark Judgment: Federal High Court Dismisses ₦50bn Oil Spill Claim Against ExxonMobil
The Federal High Court sitting in Uyo has dismissed a ₦50 billion lawsuit filed against ExxonMobil, sued as Mobil Producing Nigeria Unlimited, now Seplat Energy Producing, in a ruling analysts say could significantly reshape oil spill litigation and compensation claims in Nigeria’s petroleum sector.
Delivering judgment on April 29, 2026, Justice Onyetenu held that the suit instituted by the Ejige Ore Njenyisi Muma & Fishing Co-operative Society Ltd was incompetent and liable to dismissal for lack of jurisdiction.
The plaintiffs had sought ₦50 billion in damages over an alleged hydrocarbon spill said to have occurred on September 12, 2021.
However, counsel to the defendant, Chinonso Ekuma of KENNA LP, successfully argued that the claimants failed to disclose any legally recognisable violation attributable to the oil firm.
In its findings, the court held that the plaintiffs failed to establish any actionable wrongdoing against the defendant.
A key element in the court’s decision was the Joint Investigation Visit (JIV) Report tendered by the plaintiffs themselves, which showed that the alleged spill incident was confined within ExxonMobil’s operational facility and did not impact the members of the cooperative society or their sources of livelihood.
The court further ruled that claims arising from such incidents must be pursued strictly under the statutory compensation framework provided in Section 11(5) of the Oil Pipelines Act, rather than through common-law claims founded on negligence or nuisance.
Justice Onyetenu held that the plaintiffs’ attempt to circumvent the statutory regime by framing the suit as a tort action rendered the matter incompetent before the court, thereby depriving it of jurisdiction.
Legal analysts say the judgment reinforces the supremacy of the Oil Pipelines Act in determining compensation procedures relating to oil pipeline incidents and environmental claims in Nigeria.
The ruling is also seen as strengthening the evidential weight of Joint Investigation Visit Reports, particularly in cases where such reports indicate no direct impact on claimants or host communities.
Industry observers believe the judgment will have far-reaching implications for future oil spill litigation, especially regarding the procedural requirements for compensation claims against oil operators.
The court’s decision further provides clarity for operators within Nigeria’s energy sector by reaffirming that compliance with Section 11(5) of the Oil Pipelines Act is mandatory and cannot be sidestepped through alternative legal formulations.
While K.O. Uzuokwu appeared for the plaintiffs, the defence was led by Chinonso Ekuma of KENNA LP on behalf of ExxonMobil.
Bank
Union Bank Honoured by ASBON at Nigeria National SME Business Awards
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.
Bank
Atlantian Crown Bank Rebrands as Arizona Global Bank LLC, Begins Licensing for Global Expansion
*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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