News

Malabu Oil Scam: EFCC Loses Case As Court Discharges Ex-AGF Adoke, Others

Published

2 years ago

March 28, 2024

A Federal Capital Territory, FCT, High Court on Thursday discharged a former Attorney-General of the Federation, AGF, Mohammed Bello Adoke, and six others after dismissing charges filed against them over the controversial Oil Prospecting Licence, OPL, 245, otherwise known as Malabu Oil scam.

Recall that the Economic and Financial Crimes Commission, EFCC, dragged Adoke and other defendants before the court on an amended 40-count charge bordering on disobeying direction of the law, offering and receiving gratification, conspiracy and forgery, among others.

Adoke, who served as AGF and Minister of Justice under the administration of former President Goodluck Jonathan, was prosecuted by EFCC in the suit marked FCT/HC/CR/151/2020.

Other accused persons are Aliyu Abubakar, Rasky Gbinigie, Malabu Oil and Gas Limited, Nigeria Agip Exploration Limited, Shell Nigeria Extra Deep Limited and Shell Nigeria Exploration Production Company Limited.

Ruling on the no-case submission filed by the defendants, Justice Abubakar Kutigi held that any trial processes are evidence driven but the prosecution failed to produce certain documents or call some witnesses to prove its case.

He further held that the prosecution has failed to prove the essential elements of the offences the defendants were charged with before the court.

According to him, though the defendants were constitutionally presumed to be innocent, to establish prima facie case against them, the prosecution had to produce sufficient evidence to warrant the court to call on them to enter their defence.

Justice Kutigi held that in the current case, the prosecution failed to establish any prima facie case against the defendants.

He cited the situation whereby about three counts involved forgery, yet the prosecution failed to tender relevant documents as exhibits.

The judge further held that a charge must not be filed for the purpose of doing so, submitting that frivolous charge does damage to the judicial system.

He commended the prosecution counsel for accepting in his final written address that no case has been made by the prosecution against the defendants.

Justice Kutigi, however, lamented that it took the prosecution four years before realising it.

”The defendants ought not to have been charged in the first instance.

“This, stemmed from the fact that the prosecution failed to produce before the court the minimum evidence to enable the court to order the defendants to enter their defence,” he said.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

48 minutes ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

1 hour ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.

News

N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs

Published

3 hours ago

May 6, 2026

Editor

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.

Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.

“Women-led enterprises are critical to economic activity, yet they face structural barriers.

This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).

“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”

Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.