News
Oil Subsidy Fraud: Ex-PDP Chair’s Son, Others Re-arraigned

The Lagos State Zonal Command of the Economic and Financial Crimes Commission, on Friday, March 24, arraigned one Mamman Ali, son of a former chairman of the Peoples Democratic Party, Ahmadu Ali, and one Christian Taylor, before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos for an alleged N2.2 billion oil subsidy fraud.
They were arraigned alongside Nasaman Oil Services Limited on an amended 49-count bordering on conspiracy to obtain money by false pretence, contrary to Section 8 and 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006; obtaining money by false pretences, contrary to Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006; forgery, contrary to Section 363 (3)(j) of the Criminal Law of Lagos State 2011; and use of false documents contrary to Section 364 of the Criminal Law of Lagos State 2011.
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The EFCC Director of Media and Publicity, Wilson Uwujaren, revealed these on Friday night, in a statement obtained by our correspondent.
One of the counts read, “Nasaman Oil Services Ltd, Mamman Ali, Christian Taylor, Oluwaseun Ogunbambo (now at large) and Olabisi Abdul-Afeez (still at large), on or about November 9, 2011 at Lagos, within the Ikeja Judicial Division, with intent to defraud, conspired to obtain the sum of N749,991,273.36 from the Federal Government of Nigeria by falsely claiming that the sum of N749,991,273.36 represented subsidy accruing to Nasaman Oil Services Ltd under the Petroleum Support Fund for the importation of 10,031,986 litres of Premium Motor Spirit, which Nasaman Oil Services Ltd purported to have purchased from SEATAC Petroleum Ltd of British Virgin Islands and imported into Nigeria through MT Liquid Fortune Ltd of British Virgin Islands and imported into Nigeria through MT Liquid Fortune Ltd Ex MT Overseas Lima, which representation you knew to be false.”
Another count read, “Nasaman Oil Services Ltd, Mamman Ali, Christian Taylor, Oluwaseun Ogunbambo (now at large) and Olabisi Abdul-Afeez (still at large), on or about April 11, 2011 at Lagos, within the Ikeja Judicial Division, with intent to defraud, obtained the sum of N1,480,074,125.61 from the Federal Government of Nigeria by claiming that the sum represented subsidy accruing to Nasaman Oil Services Ltd under the Petroleum Support Fund for the importation of 20,492,982.50 litres of Premium Motor Spirit, which Nasaman Oil Services Ltd purported to have purchased from SEATAC Petroleum Ltd of British Virgin Islands and imported into Nigeria through MT Liquid Fortune Ex Mt. Hellenic Blue and Ex MT. Milleura, which representation you knew to be false.”
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Uwujaren noted that they both pleaded not guilty to all the charges preferred against them.
The PUNCH reports that they were initially standing trial before Justice Adeniyi Onigbanjo of the Lagos State High Court sitting in Ikeja. However, Justice Onigbanjo withdrew from the case on health grounds, prompting the re-assignment of the case to Justice Dada.
Following their pleas on Friday, the prosecution counsel, S.K. Atteh, prayed the court for a trial date to enable the prosecution call its witnesses and tender necessary documents to prove the case against them.
The defence counsel, Kolade Obafemi, however, applied to the court to allow the defendants to continue to enjoy the bail already granted to them by Justice Onigbanjo.
“We crave your lordship’s indulgence that the existing bail granted to the defendants be allowed to continue,” he said.
In response, Atteh noted that what was most paramount for the prosecution was the attendance of the defendants to face trial.
He said, “Our interest is that the defendants attend trial; and so, we leave the decision to the discretion of this honourable court.”
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The EFCC PRO noted that the defence counsel could not immediately present the bail papers of the defendants to the court, though he furnished the court with the earlier court rulings of Justice Onigbanjo with regard to the bail applications.
However, Justice Dada insisted on seeing the bail papers. In the instance, he ordered that the defendants be remanded at the EFCC custody till the bail papers are presented to the court and a formal application for the bail of the defendants is filed, while he adjourned the case till May 29 to 31, 2023 for trial.
News
Foundation Holds School Debate In Benin To Address Negative Narrative About Education

Osahon Enabulele Foundation, (DOEF), has given reason for organising interschool secondary schools debate in Edo State, saying it was “conceived to tackle the negative narrative surrounding the value of education among the younger generation.”
The Director—General of the foundation, Dr. Osahon Enabulele, stated this at the grand finale of the maiden edition of the debate held in Benin on Wednesday.
The competition, titled: “If education is a scam or not” was informed by the social-economic reality with students demonstrating impressive intellectual competition and depth.
Enabulele stressed that the debate was aimed at promoting intellectual development, encouraging civic engagement and public speaking, and fostering leadership qualities and critical thinking.
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He added that the foundation, established nine months ago, was driven by strategic pillars that include leadership and governance, health, education, policy advocacy and social philanthropy.
According to him, many young people are becoming disillusioned by society’s “defective role modelling” and the “unfortunate reward for individuals with questionable sources of wealth,”
He said, “The debate is totally driven by the Foundation as a deliberate interventionist initiative that seeks to reverse the worrisome negative narrative about education, particularly amongst our upcoming generations, including our youths who are increasingly becoming victims of our society’s defective role modelling and unfortunate reward for individuals with very questionable sources of wealth, with leadership and societal positions. Our younger ones are truly becoming disillusioned as a result of these inanities.
“Some no longer think it is worthwhile to acquire education or task their brains in any way. This debate initiative is therefore our Foundation’s committed efforts to contribute to the reversal of this worrisome trend and mindset affliction.”
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The interschool debate saw Eghosa Grammar School clinching the N1m star prize while other winners were also presented with a certificate of participation, books and other sundry items.
The outstanding speakers during the debate also went home with cash prizes ranging from N100,000 to N200, 000.
News
Trump’s Military Threat: ‘Poor Man Is Already A Sinner’ – Shehu Sani

Former lawmaker, Shehu Sani, has criticised United States President Donald Trump’s approach to global relations, alleging a double standard in the way he engages with different regions of the world.
In a statement posted on X on Wednesday, Sani said Trump had secured a trillion-dollar deal from Saudi Crown Prince Mohammed bin Salman and consistently defended the kingdom, while raising issues of human rights, terrorism and religious persecution only when dealing with African leaders.
According to him, no African, European or Latin American nation could offer Trump the kind of financial leverage that oil-rich Arab states provide.
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Sani’s remarks come amid Trump’s recent threat of military action in Nigeria over allegations of Christian genocide.
The former lawmaker argued that in a materially driven world, “a poor man is already a sinner,” suggesting that economic power continues to shape international attitudes and interventions.
He wrote: “Mr Trump got a deal of a trillion dollar from Bin Salman and defended everything about Saudi Arabia. No African, European or Latin American country can give him that.
“When they are talking with oil rich Arab countries, issues of human rights, executions, terrorism and religion doesn’t come up, until they meet with African leaders and start asking them where they learned ‘how to speak English’. In a material World, a poor man is already a sinner.”
News
Why Nigerians Are Not Feeling Inflation Drop – Economists

Despite Nigeria recording its seventh consecutive month of disinflation, economists and financial analysts have raised concerns that the easing inflation trend has brought little or no relief to Nigerians and households already overwhelmed by high living costs and economic hardship.
The National Bureau of Statistics (NBS) reported that headline inflation slowed to 16.05 per cent in October 2025, down from 18.02 per cent in September, one of the strongest single-month declines this year.
Food inflation also moderated to 13.12 per cent, compared to 16.9 per cent in the previous month.
But economists and analysts insist the improved figures do not reflect the economic reality facing millions of Nigerians.
The Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, said the gains from the latest figures have not translated into real cost-of-living relief because price pressures remain elevated across essential sectors.
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“Inflationary pressures remain elevated in critical household sectors—including food, transportation, housing, utilities, education, and health—which jointly account for 84 percent of inflation,” Yusuf noted.
He attributed the limited impact of disinflation to persistent structural challenges such as high logistics costs, energy constraints, insecurity in food-producing regions and climate-related disruptions that continue to suppress supply.
According to him, “the full welfare benefits are yet to be sufficiently felt by households due to persistent structural constraints.”
Yusuf advised that deeper and sustained reforms across key sectors—supported by coordinated monetary, fiscal and structural policies—are necessary to turn statistical improvements into real economic progress.
‘NBS Inflation Figures Are Flawed’ — Former CIBN President, Okechukwu
In an interview with DAILY POST, Mazi Okechukwu Unegbu, former President of the Chartered Institute of Bankers of Nigeria (CIBN), said the October inflation report is detached from the real-life experience of Nigerians.
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Unegbu insisted the country’s true inflation rate is significantly higher than official figures suggest.
“The inflation figure by the National Bureau of Statistics is flawed because it does not reflect reality. In real terms, the country’s inflation is as high as 29 percent,” he said.
He argued that the persistent rise in the cost of food, rent, transportation, fuel, and other essentials shows that the declining inflation rate “does not make sense” to the average Nigerian.
Why Nigerians Still Feel No Relief — Oyedokun
An economist and a university don, Prof Godwin Oyedokun, said most Nigerians feel no impact from the inflation slowdown because the structural drivers of the cost-of-living crisis remain intact.
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He outlined six reasons why Nigerians are yet to feel the impact of inflation: “Prices are still rising— just more slowly- A drop in inflation does not mean prices are falling. Nigerians are still paying historically high amounts for food, transport, energy and rent.
“Incomes remain stagnant- Wages, pensions and SME earnings have failed to keep up with inflation for two years, weakening purchasing power.
“Key cost drivers remain unresolved- Exchange-rate volatility, high energy costs, logistics inefficiencies, insecurity in food belts and elevated interest rates continue to fuel price increases.
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Inflation expectations are still high- Businesses expect prices to rise further and therefore adjust prices upward in advance.
“State-to-state variations distort relief- Some states still record much higher food and transportation inflation than the national average.
“Poverty levels overshadow economic data- With high unemployment and widespread poverty, even a slowdown in inflation does little to improve household welfare.”
Prof. Oyedokun concluded that “Nigerians have yet to feel any relief because the level of prices— not just the rate of change— remains painfully high, and the structural conditions driving hardship persist.”
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