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EFCC Grills Fayemi Over N4bn Money Laundering

… Several other former governors under probe – Source
A former governor of Ekiti State, Kayode Fayemi, is currently being interrogated at the zonal command office of the Economic and Financial Crimes Commission, in Ilorin, Kwara State, over an alleged laundering of N4billion, The PUNCH has gathered.
Impeccable sources privy to the development told disclosed that Fayemi arrived at the EFCC facility at about 9:40 am on Thursday.
The PUNCH had in May 2023, reported how Fayemi, through his lawyer, Adeola Omotunde, SAN, pleaded with the EFCC to allow him to present a book in honour of the former President, Muhammadu Buhari, on May 19, before honouring the agency’s invitation for questioning over money laundering allegations.
Confirming the development on Thursday, a source said, “Fayemi arrived at our Kwara command office at about 9:40 am today. Our operatives are currently grilling him over alleged misappropriation of N4bn.”
“I’m not sure whether he’d be released today or detained. However, he’s not the only former governor that’s currently being probed by the commission,” another source noted.
Contacted, the spokesperson for the anti-graft agency, Wilson Uwujaren, said he couldn’t speak concerning the development.
“I can’t speak concerning that, please,” Uwujaren said.
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Meanwhile, The PUNCH reports that in a letter dated May 12, which was obtained by The PUNCH, the EFCC had asked the ex-Ekiti governor to appear before the head of its zonal command office in Kwara, Nigeria’s North-Central, to answer questions bordering on money laundering activities.
According to the letter issued by its zonal commander Micheal Nzekwe, the EFCC requested that Mr Fayemi appears before it on May 18.
The letter reads, “The commission is investigating a case of money laundering in which the need to seek certain clarifications from you has become imperative.
“In view of this, you’re kindly requested to come for an interview with the undersigned through the Head, Economic Governance section. Thursday, May 18, 2023. No. 10 Oko close, off station road, GRA, Ilorin, Kwara State. Time: 10: 00 hours.”
But in a follow-up letter through his legal counsel, Adeola Omotunde, SAN, dated May 15, which was sighted by The PUNCH correspondent, Fayemi said he was one of the organisers and reviewer of one of the books published in Buhari’s honour.
“Our client is in receipt of your letter of invitation dated 12th May 2023 for an appointment on Thursday, 18th of May, 2023,” Mr Fayemi’s lawyer noted.
The letter reads, “Our client is engaged on the 18th day of May 2023 as he is preparing for a public presentation and launching of two new books in honour of President Muhammadu Buhari, titled: ‘State of Repair: How President Muhammad Buhari Tried to Change Nigeria For Good’ by Anthony Goldman and ‘The Legacy of Muhammadu Buhari’ by Abu Ibrahim slated for 19th May 2023 at the Banquet Hall, State House, Abuja by 10:00 a.m.
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“Our client is one of the organisers of the programme and will review one of the books. Our client has also committed himself to other programs between May 19, 2023, and May 24, 2023, before he received your invitation. We regret to inform you that our client will not be able to honour your invitation on the 18th May 2023 against the backdrop of the foregoing information.”
Fayemi’s lawyer could not be reached The PUNCH on Thursday, as the phone number obtained from his letter was unavailable.
Meanwhile, asides from Fáyẹmí, the EFCC has said it was also investigating the former governor of Zamfara State, Bello Matawalle, on allegations of corruption, award of phantom contracts and diversion of over N70bn.
The EFCC said it was compelled to make the development public following the recent attempt by the outgoing governor to cast aspersions on the integrity of the agency’s fight against corruption.
The Director, Media and Public Affairs, EFCC, Osita Nwajah, who spoke on behalf of the Chairman of the agency, Abdulrasheed Bawa, made this disclosure in May while addressing journalists at the commission’s headquarters in Jabi, Abuja.
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Nwajah said, “It is intriguing that Matawalle would want to take on the role of a supervisor, who tells the EFCC whom to investigate. Is this a case of a ‘thief’ saying he must not be touched until other ‘thieves’ are caught?
“The real issue with Matawalle is that he is being investigated by the EFCC, over allegations of monumental corruption, award of phantom contracts and diversion of over N70bn.
“The money, which was sourced as a loan from an old generation bank purportedly for the execution of projects across the local government areas of the state, was allegedly diverted by the governor through proxies and contractors who received payment for contracts that were not executed.
“The commission’s investigations so far revealed that more than 100 companies had received payments from the funds, with no evidence of service rendered to the state. Some of the contractors who have been invited and quizzed by the commission made startling revelations on how they were allegedly compelled by the governor to return the funds received from the state coffers back to him through his aides after converting the same to United States dollars.
“They confirmed that they did not render any service to Zamafara State but were allegedly directed to convert the money paid to them into United States dollars and return to the state governor through some of his commissioners, notably the commissioners in charge of Finance and Local Government Affairs.”
According to Nwajah, one of the contractors involved, a popular Abuja property developer, collected N6bn on an N10bn contract without rendering any service to Zamfara State.
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He noted that another contractor collected over N3bn for a contract for the supply of medical equipment, but the commission traced a payment of N400m from his account to a Bureau de Change operator.
The contractor confessed the payment was to procure the dollar equivalent allegedly for the state governor.
“As part of the extensive investigation of contracts awarded by the Matawalle administration, especially for phantom projects in the local government areas, the commission has recovered a sum of N300m from a company, Fezel Nigeria Limited. The funds were traced to the Zamafara Investment Company.
“The EFCC investigation is the source of anxiety in Government House, Gusau, with the governor in mortal dread of his fate once he steps down as governor on May 29.
“In Nigeria, state governors and their deputies enjoy immunity from criminal prosecution while in office, a reason the EFCC has yet to arrest Governor Matawalle,” he added.
The EFCC is also probing a former Kogi State Governor, Yahaya Bello, for alleged corruption over 14 properties both in Nigeria and abroad, and N400 million, among other allegations.
“The properties, including Hotel Apartment Community, Burj Khalifa lying, being and situate at, Plot 160 Municipality NO 345-7562, Sky View Building No 1, Property No 401, Floor 4, Dubai U.A.E., were reasonably suspected to have been derived from unlawful activity,” the anti-graft agency said in a statement obtained by our correspondent in May.
PUNCH
News
Traditional Ruler, Police Partner FG Security Agency To Mop Up Arms, End Bnditry

The Lamido Adamawa, Dr Muhammadu Barkindo Mustapha has partnered with the
National Centre for the Control of Small Arms and Light Weapons (NCCSALW), Northeast Zonal Centre, under the Office of the National Security Adviser to President Bola Tinubu to curtail the menace of the proliferation of illicit small arms and light weapons in the country.
Speaking when the Northeast Zonal Director of NCCSALW, Maj:-Gen. Abubakar Adamu (Rtd) paid him a courtesy visit on Tuesday, the Emir said that the roles of the traditional rulers in fighting the proliferation of small Arms and light weapons in the country could not be overemphasized.
He promised that he would do everything within his power to support the centre in sensitizing the people on the dangers associated with the proliferation of illicit arms and weapons as well as putting an end to it.
He seeks for the support and cooperation of all traditional leaders in the state to join the centre in tackling the menace of the proliferation of these arms and weapons in their various communities.
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Earlier speaking, Maj:-Gen. Abubakar Adamu (Rtd), said the collaboration with the traditional institutions and all stakeholders would go a long way in curtailing the menace of the proliferation of Small Arms and Light Weapons (SALW) in the country.
The Zonal Director explained that the Centre was working in collaboration with all stakeholders in the country to mop up all SALW for onward destruction.
According to him, the Centre has been mandated by the federal government to prosecute any individual involved in the proliferation of illicit weapons in the country and is therefore seeking for more support and collaboration from all stakeholders in the country.
Similarly, the centre paid a courtesy visit to the Commissioner of Police in the state, CP Dankombo Morris for more collaboration and synergy where Adamu explained that the visit was part of a sensitization tour to introduce the mandate of the Centre, which is focused on curbing the proliferation of SALW across the North East.
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He sought the continued support and cooperation of the Command to achieve the giant stride of mopping up all illegal weapons from circulation through collection and destruction.
Responding, the Commissioner of Police pledged to collaborate with the centre in the fight against the proliferation of illicit arms and light weapons.
He further reaffirmed the Command’s readiness to work closely with the Centre to rid the State of illegal firearms and ensure public safety.
The centre also met with the Director, State Security Service, Barthalomew Omoaka, who promised to support the centre especially in intelligence sharing which he said was paramount in preventing the proliferation of these weapons.
News
OPINION: Nigerian Leaders And The Tragedy Of Sudden Riches

By Israel Adebiyi
It is my sincere hope that by now, the wives of the 21 local government chairmen of Adamawa State are safely back from their exotic voyage to Istanbul, Turkey, a trip reportedly bankrolled by the local government finances under the umbrella of the Association of Local Governments of Nigeria (ALGON). A journey, we are told, designed to “empower” them with leadership skills. It’s the kind of irony that defines our political culture, an expensive parade of privilege masquerading as governance.
But that is what happens when providence smiles on an ill-prepared man: he loses every sense of decorum, perspective, and sanity.
I am reminded of a neighbour from nearly two decades ago, a simple man who earned his living as a welder in a bustling corner of Alagbado, in Lagos. One day, fortune smiled on him. The details of how it happened are less important than the aftermath. Overnight, this humble tradesman was thrust into wealth he never imagined. His first response was to remodel his one-room face-me-I-face-you apartment. He then bought crates of beverages for his wife to start a small trade. Nights became movie marathons, days were spent entertaining friends and living large. Within a short while, both the beverages and the money were gone. The family consumed what was meant to be sold, and before long, they were back to where they began, broke and disillusioned.
That, in many ways, mirrors the tragedy of Nigerian leadership. It’s the poverty mindset in leadership.
The story of my neighbour is a microcosm of the Nigerian political elite, particularly at the subnational level. When sudden riches come, wisdom departs. When opportunity presents itself, greed takes over. In the past years, since the removal of fuel subsidy and the subsequent fiscal windfall that followed, all levels of governments, particularly both state and local governments have found themselves with more resources than they have had in over a decade. Yet, rather than invest in ideas that would stimulate production, jobs, and infrastructure, what we have witnessed is an epidemic of frivolities, unnecessary travels, wasteful seminars, inflated projects, and reckless spending.
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Across the country, the story is similar: councils and states spending like drunken sailors. Suddenly, workshops in Dubai, leadership retreats in Turkey, and empowerment programs that empower nobody have become the order of the day. The sad reality is that many of these leaders lack the intellectual depth, managerial capacity, and moral restraint to translate resources into development. Their worldview is transactional, not transformational.
Nigeria’s tragedy is not the absence of resources; it is the misplacement of priorities. Across the states, billions are allocated to vanity projects that contribute little or nothing to the people’s quality of life. Roads are constructed without drainages and collapse at the first rainfall. Hospitals are built without doctors, and schools are renovated without teachers. Governors commission streetlights in communities without power supply. Council chairmen purchase SUVs in towns where people still fetch water from muddy streams. This is not governance; it is pageantry.
The problem is rooted in a poverty mindset, a mentality that sees power not as a platform for service but as an opportunity for consumption. Like the welder who squandered his windfall, our leaders are more preoccupied with display than development. They seek validation through possessions and patronage. They confuse spending with productivity. After all, these guarantee their re-election and political relevance.
Take for instance, the proliferation of “empowerment” schemes across states and local governments. Millions are spent distributing grinding machines, hair dryers, and tricycles, symbolic gestures that make headlines but solve nothing. In a state where industrial capacity is non-existent and education is underfunded, these programs are nothing but political theatre.
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Part of the reason for this recurring tragedy is the near absence of accountability. At every level of government, public scrutiny has been deliberately weakened. The legislature, which should act as a check on executive excesses, has become a willing accomplice. Most state assemblies now function as mere extensions of the governor’s office. Their loyalty is not to the constitution or the people, but to the whims of the man who controls their allowances. When oversight is dead, impunity thrives.
The same is true at the local government level. The councils, which should be the closest tier of governance to the people, have become mere revenue distribution centres. Their budgets are inflated with cosmetic projects, while core community needs – clean water, rural roads, primary healthcare, and education – remain neglected. In most states, local governments have been stripped of autonomy, no thanks to the governors, and turned into cash dispensers for political godfathers.
A functioning democracy depends on the ability of citizens and institutions to demand explanations from those in power. Unfortunately, Nigeria has normalised a culture of unaccountability. We applaud mediocrity, celebrate looters, and reward failure with re-election.
Leadership without vision is like a vehicle without direction, fast-moving but going nowhere. Our leaders often mistake motion for progress. A road contract here, a stadium renovation there, a new office complex somewhere, yet the fundamental problems remain untouched.
When a government cannot define its priorities, it becomes reactive, not proactive. It responds to crises rather than preventing them. The consequence is that we keep recycling poverty in the midst of plenty.
Consider the fate of many oil-producing states that have earned hundreds of billions from the 13 percent derivation fund. Despite their enormous earnings, the communities remain among the poorest in the federation. The roads are not just bad but are deathtraps, the schools dilapidated, and the hospitals understaffed. The money vanished into white-elephant projects and political patronage networks.
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Visionary leadership is not about having a title or holding an office; it is about seeing beyond the immediate and investing in the future. It is about building systems that outlive individuals. Sadly, most of our leaders are incapable of such long-term thinking because they are trapped in the psychology of survival, not sustainability.
There is a proverb that says: “The foolish man who finds gold in the morning will be poor again by evening.” That proverb could have been written for Nigeria. Each time fortune presents us with an opportunity, whether through oil booms, debt relief, or global trade openings, we squander it in consumption and corruption.
The subsidy removal windfall was meant to be a moment of reckoning, a chance to redirect resources to development, improve infrastructure, and alleviate poverty. Instead, it has become another tragic chapter in our national story, a story of squandered wealth and wasted potential.
When money becomes available without the corresponding capacity to manage it, it breeds recklessness. Suddenly, every council wants a new secretariat. Every governor wants to build a new airport or flyovers that lead to nowhere. The tragedy is not in the availability of money but in the absence of vision to channel it productively.
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Nigeria does not lack bright minds; it lacks systems that compel responsibility. What we need is a new civic consciousness that demands accountability from those in power. Citizens must begin to interrogate budgets, question policies, and reject tokenism. Civil society must reclaim its watchdog role. The media must rise above “he said, he said” journalism and focus on investigative and developmental reporting that exposes waste and corruption.
Equally, the legislature must rediscover its purpose. Lawmakers are not meant to be praise singers or contract brokers. They are the custodians of democracy, empowered to question, probe, and restrain executive recklessness. Until they reclaim that role, governance will remain an exercise in futility.
The solution also lies in leadership development. Leadership should no longer be an accident of chance or patronage; it must be a deliberate cultivation of character, competence, and capacity. The tragedy of sudden riches is avoidable if leaders are adequately prepared to handle responsibility.
Ultimately, the change we seek is not just in policy but in mindset. Nigeria must confront the culture of consumption and replace it with a culture of productivity. We must move from short-term gratification to long-term investment, from vanity projects to value creation, from self-aggrandizement to service.
Every generation has its defining moment. Ours is the opportunity to rethink governance and rebuild trust. The tragedy of sudden riches can become the triumph of sustainable wealth, but only if we learn to manage fortune with foresight.
Until that happens, the Adamawa wives will keep travelling, the chairmen will keep spending, and the people will keep waiting for dividends that never come.
News
JUST IN: Court Orders IGP To Arrest Mahmood Yakubu, Ex-INEC Chairman

Despite his exit as the chairman of the Independent National Electoral Commission, INEC, the Federal High Court sitting in Osogbo, the Osun State capital, has again ordered the Inspector General of Police, Mr Kayode Egbetokun, to arrest the former INEC chairman, Prof Mahmoud Yakubu, for an offence relating to contempt of court.
The Court order came a few hours after Yakubu left office as the INEC chairman.
The Action Alliance, AA, had instituted a case before the court challenging INEC and its former chairman, Prof Yakubu, over their non-compliance with the judgment of the Court delivered by Justice Funmilola Demi-Ajayi in suit number FHC/OS/CS/194/2024.
In the said judgment, the court ordered INEC to put the names of the National Chairman of the Action Alliance, Adekunle Rufai Omoaje, and other members of the party’s National Executive Committee, NEC, on the INEC portal.
The Court also held that the names of all the state chairmen of the party be uploaded on the INEC portal.
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The court held that the elective convention of the party held on the 7th of October, 2023 which produced Omoaje as the national chairman of the party and other NEC members of the party was authentic as it was properly monitored and supervised by officials of INEC in accordance with the party’s constitution and the electoral acts.
However, INEC claimed to have complied with the court judgment, but the party disagreed with the commission, as the name of Omoaje was yet to be uploaded on the commission’s website despite the orders of the Court.
Although the names of the state chairmen of the party under the leadership of Omoaje and those of the NEC members are already on the INEC portal, Omoaje’s name is yet to be uploaded as of press time, a development that the court frowned at.
The court order obtained by our correspondent dated 7th October, 2025, and signed by Mr O.M. Kilani on behalf of the Court Registrar reads in part, “it is hereby ordered that the Inspector General of Police shall cause the arrest and shall charge the defendant/judgment debtors for contempt and committal proceedings within seven days of this ruling.”
The court also awarded a cost of #100,000 against the judgment creditors.
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