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The Federal Government has confirmed Saudi Arabia’s SALIC International Investment Company’s acquisition of a 35.43% stake in Olam Agri Holdings for a substantial $1.24 billion, marking a significant boost to Nigeria’s agricultural and livestock sector.
Minister of Finance Wale Edun made this announcement following a meeting with President Bola Tinubu in Lagos, emphasizing the administration’s commitment to fostering a stable macroeconomic environment that attracts high-value foreign investments.
“You all know and we all heard that Saudi Arabia, the Saudi Agriculture and Livestock Investment Company, had just around the 23rd of December increased its investment in Olam by a $1.2 billion additional investment,” Edun stated. “It’s that type of transaction that Mr. President has taken the steps of stabilizing the Nigerian macro-economic environment to encourage.”
The deal, which closed on December 23, 2024, values Olam Agri Holdings at $3.5 billion. Olam Group retains a controlling 64.57% stake in the agricultural unit. The transaction, initially announced in March 2022, solidifies Olam Agri’s position as a key player in global agriculture while opening up new opportunities for Nigeria’s livestock industry.
As part of the agreement, Olam Agri and SALIC have established a Strategic Supply & Cooperation Agreement. This partnership aims to expand Olam’s footprint in the Middle Eastern markets while leveraging SALIC’s expertise in livestock and agriculture to strengthen Nigeria’s agricultural exports.
Industry experts have hailed the transaction as a milestone for Nigeria’s agricultural sector, noting its potential to enhance food security, drive foreign exchange earnings, and create employment opportunities. The strategic partnership is expected to foster technology transfer, improve farming techniques, and introduce innovative solutions to Nigeria’s livestock and broader agricultural value chains.
Backstory
Last week, Edun led a delegation to the Kingdom of Saudi Arabia on behalf of President Bola Tinubu and the Presidential Economic Coordination Council to strengthen the economic partnership, focusing on enhancing export credit, insurance frameworks, and market access between the two nations.
- During the visit, the delegation engaged in high-level discussions with Saudi EXIM Bank, focusing on developing export credit and insurance frameworks, and expanding market access between the two nations.
- According to a statement issued by the delegation, the Saudi EXIM Bank expressed interest in deepening relationships with Nigerian institutions and participating in future transactions involving Saudi government entities.
“Additionally, the delegation held strategic talks with the Saudi Development Fund to explore potential areas of collaboration aimed at boosting infrastructure and economic development in Nigeria. The delegation also met with the Saudi Agricultural and Livestock Investment Company (SALIC) to advance ongoing conversations about their investments in Nigeria,” the statement noted.
[Nairametrics]
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, announced this development on Monday.
During his visit to the facility earlier today, Kyari, who was addressing a team on the tour, said: “We are taking you through our plant. This plant is running. It is not 100 percent. We are still in the process. Many people think these things are not real. They think real things are not possible in this country. We want you to see that this is real.”
Among the tour team was the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) Chief Executive Officer Farouk Ahmen.
“I must congratulate our team for their determination and extreme belief that this company can restart this plant.
“This has brought the result we are seeing in collaboration with our contractors. We have proved that it is possible to restart a plant that you deliberately shut down. We have proved this.
“This plant has three stages. We have started stage one which is called Area 1, able to produce AGO (diesel), Kerosene, naphtha and others. These are brands of high-quality products required in the country. We will also be able to export them. This country will make money to meet the promises of Mr president that this country will be an exporter of petroleum products.
“I must put on record the development was as a result of the charge by Mr President that we must get all three refineries to work. It is already happening. We have successfully started the Port Harcourt 65, 000 barrels per day refinery. We have also started the area 1 of the Warri refinery. The other plants that will produce PMS will also come live.
“Kaduna is also on stream. We are not going to give you a date but we will surprise you,” Kyari further remarked.
Situated in Ekpan, Uwvie, and Ubeji, Warri, the Petrochemical plant has an annual production capacity of 13,000 million tons of polypropylene and 18,000 million tons of carbon black.
Established in 1978 and operated by the NNPCL, the WRPC was designed to cater to the markets in the southern and southwestern regions of Nigeria.
As per the statement from NNPCL spokesperson Olufemi Soneye, the mechanical completion of the facility was initially projected for the first quarter of this year.
“Warri should be done by Q1 (first quarter) 2024,” Soneye stated.
The other two include the old and new Port Harcourt Refining Company in Rivers State and the Kaduna Refining and Petrochemical Company in Kaduna State.
The development came following the recent commencement of crude refining at the old Port Harcourt Refinery.
Naija News recalls that in a statement released in November 2024, through his Special Adviser on Information and Strategy, Bayo Onanuga, President Tinubu acknowledges the pivotal role of former President Muhammadu Buhari in initiating the comprehensive rehabilitation of all Nigerian refineries and expresses gratitude to the African Export-Import Bank for its confidence in financing this critical project.
Tinubu also commends the leadership of NNPC Limited’s Group Chief Executive Officer, Mele Kyari, for his unwavering dedication and commitment to overcoming challenges and achieving the new milestone.
President Tinubu directed that with the successful revival of the Port Harcourt refinery, NNPC Limited should expedite the scheduled reactivation of both the second Port Harcourt refinery and the Warri and Kaduna refineries.
The statement added, “These efforts will significantly enhance domestic production capacity alongside the contributions of privately-owned refineries and make our country a major energy hub, with the gas sector also enjoying unprecedented attention by the administration.
“The President underscores his administration’s determination to repair the nation’s refineries, aiming to eradicate the disheartening perception of Nigeria as a major crude oil producer that lacks the ability to refine its own resources for domestic consumption.
“Highlighting the values of patience, integrity, and accountability in the rebuilding of the nation’s infrastructure, President Tinubu calls upon individuals, institutions, and citizens entrusted with responsibilities to maintain focus and uphold trust in their service to the nation.
“In alignment with the Renewed Hope Agenda focused on shared economic prosperity for all, the President reaffirms his administration’s commitment to achieving energy sufficiency, enhancing energy security, and boosting export capacity for Nigeria.”
[NaijaNews]
The Nigerian National Petroleum Company has said that President Bola Ahmed Tinubu has the final say on the purported exit of its Group Chief Executive Officer, Mele Kyari, in January 2025.
However, NNPC described Kyari exit claims in January 2025 as false.
NNPC spokesperson Olufemi Soneye told DAILY POST exclusively in an interview on Monday.
This comes as some industrial stakeholders believe that Kyari, who would turn 60 years on January 8, 2025, may retire from service and be replaced with one Bayo Ojulari.
Reacting, Soneye said the claims are rumors and false.
According to him, Kyari has his time and tenure in the NNPC; however, it is the prerogative of President Bola Ahmed Tinubu to keep or fire the company’s GCEO.
“I don’t know anything about that; all those things are rumors and false. The man (Mele Kyari) has his time and tenure; the president has the final say. As the Minister of Petroleum, anything he wants to do, he will do. For us, it is to continue with our work and do it right.”
He further explained that NNPCL’s appointments are based on expertise, skills, and ability to deliver, not on ethnicity, religion, or other sentiments.
“This is a global energy company. Movement in the company is based on expertise, skills, and ability to deliver, not on the basis that you are from X, Y, or Z; you are Muslim or Christian. Gone are the days we did that; if we do that, we cannot have foreigners working for us. We have Dutch, American, and British managing directors of our businesses. If we are doing only Muslim, Christian, Hausa, Igbo, and Yoruba, we won’t have them. Where we have Nigerians that can deliver, they are there. We, the company, look for professionals that can deliver,” he told DAILY POST.
This comes as some other players in the oil and gas sector stated that the GCEO’s tenure is expected to terminate in 2027, in line with Section 59 (2) of the Petroleum Industry Act 2021, which states that, “The composition of the Board of the NNPC Limited shall be determined in accordance with the Companies and Allied Matters Act and its Articles of Association.”
DAILY POST reports that Kyari, alongside the Chief Executive of the Nigerian Upstream Petroleum Commission, Gbenga Komolafe, are appointees of ex-President Muhammadu Buhari who have survived President Bola Ahmed Tinubu’s sack sledgehammer.
This comes as Kyari, in November 2023, was reappointed by Tinubu to continue to lead the country’s oil behemoth, its management board chairman, and members.
Recently, United States-based Nigerian professor of journalism Farooq Kperogi stirred controversy over Tinubu’s key appointments into NNPC.
Kperogi, in an article titled ‘Tinubu’s Buharisation of the NNPC,’ accused Tinubu of ethnic bias in his appointments at NNPCL in the manner former President Muhammadu Buhari did.
Reacting to Kperogi’s article, the ex-governor of Kaduna State, Nasir El-Rufai, chided Tinubu, saying two wrongs cannot make a right and therefore urged that inclusion in NNPC would have trumped exclusion.
However, the presidency, through Tinubu’s spokesperson, Bayo Onanuga, said El-Rufai is taking a cheap shot against the president.
Earlier, former Kaduna Central Senator Shehu Sani faulted El-Rufai’s alleged nepotism claim at NNPCL.
DAILY POST recalls that in November 2024, NNPC appointed Adedapo Segun as its new Chief Financial Officer (CFO), taking over the position from Mr. Umar Ajiya.
Similarly, the company announced the appointments of Mr. Isiyaku Abdullahi as the Executive Vice President (EVP), Downstream, and Mr. Udobong Ntia as the Executive Vice President (EVP), Upstream.
In July 2022, the oil firm transitioned from a public corporation to a limited liability company.
[DailyPost]
Details about how the National Assembly plans to pass the proposed N49.7 trillion 2025 Appropriation Bill have emerged.
According to the legislative timeline, the joint National Assembly Committee on Appropriations will lay its report on the budget on Friday, 31 January 2025, setting the stage for its anticipated passage in early February.
The National Assembly’s timetable noted that Ministries, Departments, and Agencies (MDAs) are expected to defend their allocations before the relevant committees starting Monday, 7 January 2025.
A memo obtained by our correspondent in Abuja revealed that the Senate Committees on Appropriations and Finance will meet with key government officials on Friday, 7 January, at 2 p.m.
These officials include Wale Edun, the Minister of Finance and Coordinating Minister of the Economy; Atiku Bagudu, the Minister of Budget and Economic Planning; and the Director-General of the Budget Office of the Federation.
Joint budget defence sessions between the Senate and House of Representatives’ appropriations subcommittees, alongside relevant MDAs, will begin on Wednesday, 8 January, and continue until Wednesday, 15 January 2025.
The timetable indicates that the Appropriations Committee will present its final report on the budget on Friday, 31 January 2025.
Senator Adeyemi Adaramodu (APC – Ekiti South), Chairman of the Senate Committee on Media and Publicity, confirmed the timeline in Abuja.
President Bola Ahmed Tinubu presented the N49.7 trillion budget proposal, titled “The 2025 Budget of Restoration: Securing Peace, Rebuilding Prosperity,” during a joint session of the Senate and the House of Representatives on 18 December 2024.
The President highlighted the budget’s focus on securing peace, fostering prosperity, and ensuring hope for a greater future for Nigeria.
The Senate passed the 2025 Appropriation Bill for a second reading on 19 December, following a debate on its objectives and principles.
It was then referred to the Senate Committee on Appropriations, chaired by Senator Solomon Adeola (APC – Ogun West), for further scrutiny.
The House of Representatives also advanced the Bill to its Committee on Appropriations for additional legislative work.
With the legislative process underway, all indications point to the budget’s passage in early February 2025.
[TheNation]
Croatian top-flight club, Dinamo Zagreb has announced the appointment of a former Italian international, Fabio Cannavaro as the club’s new coach.
The announcement was disclosed in a statement Sunday on the club’s site.
“Fabio Cannavaro is the new coach of GNK Dinamo’s first team. This decision by the club’s management and the sports director was supported this evening by the club president and the Executive Board during the 15th session of the Executive Committee,” the statement partly read.
Cannavaro, who played as a defender for Juventus and Real Madrid, won the 2006 World Cup with Italy.
Owing to his professional behaviour and leadership skills, Cannava was awarded the Ballon d’Or the same year.
Currently, Dinamo sit in the third position with 29 points in the domestic league HNL, behind table leaders Rijeka and Hajduk Split.
According to the club’s Chief Executive Officer, Zvonimir Manenica, the lack of results in the HNL forced the management to consider Cannavaro’s appointment.
“The club’s management decided that we had to take necessary steps to stop this negative crisis because such poor results in the domestic league haven’t been seen in a long time. We thank Coach Bjelica for everything he has done. He gave his all and achieved great results in the Champions League, but the domestic league is the club’s priority, and unfortunately, the results there were lacking.
“We have the opportunity to take the club to the next level in Europe, but this is only possible by winning the title. We are aware of the risks and responsibilities, and this was not a hasty decision. It was carefully analysed to determine the best course of action without the daily pressures that come with Dinamo’s high ambitions. This is why we waited to make the decision after the match with Varaždin and took our time to decide calmly,” Manenica said, among others.
Cannavaro will join the first team at their gathering on January 3, 2025, when he will also be officially introduced.
The Italian tactician’s first test will come up on January 22 when they visit the Emirates Stadium in London, in their Champions League encounter against Arsenal.
[Punch]
Former President Olusegun Obasanjo has attributed Nigeria’s current challenges to both the actions of its leaders and the contributions of its followers.
Despite the difficulties facing the country, Obasanjo urged Nigerians to remain hopeful and not lose faith as the new year begins.
During an appearance on the Arise TV Morning Show on Monday, Obasanjo expressed confidence that Nigeria will soon assume its rightful position among nations, emphasising that he remains a steadfast optimist about the country’s future.
He said, “We wish all Nigerians a happy and prosperous new year, and I will say to Nigerians, We’re going through hardship, but they should never lose hope. I’m an incurable optimist about Nigeria, and we have a great country.
“Where we are is not where God wants us to be, and I believe that sooner than later we will get to where God wants us to be. God wants Nigeria to be a land flowing with milk and honey, not a desert, a basket case, or a failed country.
“That we’re where we are is either by inadvertent or advertent actions of our leaders and followers to some extent, but God is God of great things for Nigeria. I believe God has great things for Nigeria in the immediate future.”
Obasanjo also addressed the issue of U.S. President-elect Donald Trump’s previous remarks about Nigeria, emphasising the need for Nigeria to find a way to make Trump understand that the country is not what he described.
“Whether anybody likes it or not, the American people have decided that Trump will be their leader, and Trump, being the American people’s leader, will lead America for the next four years and will be the leader of the world.
“America is the greatest country in the world for now. It may change in a few years. Maybe China will take over and become the largest economy or surpass America in terms of technology or military power, but for today America is that country, and we cannot say we have nothing to do with Trump.
“We have to find a way of letting Trump know that what he calls a ‘shithole’ is not it, and we have to make him understand that. I believe that there will be policymakers around him that we can reach and talk to.
“America has an enlightened interest in Africa, and we must tell him, ‘This is your interest, and don’t ignore it. We’re ready to work with you; give us the respect and dignity that is due to us, respect our citizens who are in your country, and let us work together for a peaceful world. A world that is secured, stable, and where prosperity is shared and security will be common for everybody.’ I believe Trump will understand that.”
[Vanguard]
Atiku Abubakar, a former vice-president, has condemned a “military parade” accorded Seyi, son of President Bola Tinubu.
A viral video appeared to show the president’s son inspecting a guard mounted in his honour.
In a statement issued by his media office on Sunday, Abubakar demanded an investigation into the incident, saying it was a gross violation of military tradition.
“It is with utter dismay and concern that Nigerians were subjected to a nauseating video circulating online, where a group of young men, armed and in full military procession, bestowed upon the President’s son unwarranted military honours,” the statement signed by Paul Ibe, Abubakar’s media adviser, reads.
Abubakar said the group, identified as the ‘Nigeria Cadet Network’, is not a recognised entity within the Nigerian Armed Forces.
He said it was “disturbing that the name ‘Cadet’, associated with young, formally trained military personnel, was exploited by civilians to tarnish the esteemed traditions of the military”.
“In an effort to uncover the truth behind this shameless procession, we instructed our legal team and military experts to investigate the so-called ‘Nigeria Cadet Network’,” he said.
“To no one’s surprise, it was revealed that the group is not a legally registered entity. What is even more alarming is the brazen use of firearms by civilians in this so-called parade — at a time when illegal arms proliferation is at a dangerous high in our country.”
Abubakar said the probe should ascertain the legitimacy of the ‘Nigeria Cadet Network’ and its use of the cadet when it is not a registered entity, the legality of the firearms displayed, and the propriety of the military honours granted to the president’s son by non-commissioned civilians under the protection of security personnel.
The politician added that preserving the integrity of the Nigerian Armed Forces should be paramount.
“If it is determined that any legal violations were committed by the President’s son or members of the so-called ‘Nigeria Cadet Network,’ it is the constitutional duty of Nigerian security agencies to ensure that the law takes its course and those responsible are held accountable,” Abubakar said.
[TheCable]
The Nigeria Customs Service (NCS) says its will auction 15,325 litres of seized premium motor spirit (PMS), popularly called petrol, to ease transportation during the festive period.
Hussein Ejibunu, national coordinator of the service’s operation whirlwind, made the announcement on Saturday at a press briefing held at the Customs Training College, Ikeja, Lagos state.
Ejibunu said the product, valued at N27.5 million, was seized during operations in Lagos and Ogun states.
He said Adewale Adeniyi, the comptroller-general of customs, has directed that the products be auctioned at the rate of N10,000 per 25 litres.
The coordinator further said a court condemnation order and all legal processes have been finalised by the office of the legal adviser to aid the auctioning.
“This operation has been on since 27 May 2024 and has yielded positive results, as the CGC has urged the operatives to continue sustaining the tempo until the activities of these economic saboteurs are stamped out of this country,” Ejibunu said.
“On this note, the CGC has directed Auctions of the seized product to members of the public at the rate of N10,000 per 25 litres. This will ease the transportation hardship during this festive period.”
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has credited the recent drop in petrol prices to heightened competition between Nigeria’s two leading refineries — Dangote Refinery and the Nigerian National Petroleum Corporation (NNPC) Limited.
Market checks revealed a significant reduction in pump prices across major retail outlets in response to lower ex-depot prices from the Dangote Refinery and the Port Harcourt Refinery.
NNPC Retail reduced its pump price from ₦1,030 to ₦965 per litre, while AA Rano and AYM Sharfa brought their prices down from ₦1,070 to ₦1,020 per litre.
Despite these adjustments, some retailers have maintained higher prices. Notably, Conoil outlets still sell petrol at ₦1,090 per litre, unchanged from November.
In an interview with Vanguard, IPMAN’s Public Relations Officer, Chief Chinedu Ukadike, highlighted the positive impact of competition between local refineries on price stability and availability.
He said, “It is a good development for independent marketers and for consumers too. Now, because of increased demand, price normally goes up during this period but right now the opposite is the case. ‘’Availability has been taken care of and we are now seeing price war among the gladiators, NNPC and Dangote.
“By next year when the Warri and Kaduna refineries are expected to come onstream, things will even be more interesting.”
Ukadike noted that independent marketers were now able to buy directly from both refineries because “there is a slight increase in turnover. When the price was around ₦1,300/litre most of our members barely sold 5,000 litres daily but we are doing far better than this.
“We are also now able to get products directly. NNPC portal is open now for marketers to take as much product as they want. Dangote has also heeded our call and reduced the volume for bulk purchase eligibility.
“Initially it was limited to 10 million litres but now they sell at two million litres which is about N2 billion. This is more bearable for independent marketers who are now able to come together to place orders for the product.’’
There were indications that the coming on stream of the Port Harcourt Refinery and Dangote Petroleum Refinery would impact Nigeria’s foreign exchange rate in 2025.
The old Port Harcourt refinery and the Dangote Petroleum refinery can process 560,000 barrels per day (bpd) and 60,000 bpd of crude oil, respectively.
Before the two refineries came on stream, Nigeria depended on the international market for its petroleum products.
Senate President, Godswill Akpabio has revealed that his party, the All Progressives Congress will win Akwa Ibom state in the 2027 election.
The state is currently being controlled by the Peoples Democratic Party, PDP.
Akpabio spoke while disclosing why he defected to APC to ensure that the ruling party claims all the states in the South South ahead of the 2027 elections.
The Senate President spoke while receiving Governor Monday Okpebholo of Edo State at his residence in Uyo, Akwa Ibom State capital.
In a statement by his Special Assistant on Media and Communication, Anietie Ekong, Akpabio said winning the states would change the developmental trajectory of the South South region for good.
He said: “Under the APC administration, many of us decided there was need for us to change the political basket to enable us to represent our people at the national level and also have a say in what was going on in the country.
“So, when I made that strong movement to the APC, it was to move our people in the South South region to the centre.
“With the current political permutations, going by all available indices, the ruling APC is poised to bring more states into its fold.”
DAILY POST reports that the PDP controls Akwa Ibom, Rivers, Bayelsa and Delta States, while the APC controls only Edo State.
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he Agidigbo FM management has debunked reports suggesting that its chairman, Oriyomi Hamzat, the estranged wife of the Ooni of Ife, Naomi Silekunola, and the Principal of Islamic High School, Abdullahi Mfasasi, have been released from prison custody.
In a statement on Saturday shared on Oriyomi Hamzat’s Facebook page, the management described reports of their release as "fake news" and urged the public to disregard them.
The statement, however, warned those spreading the news to desist from such act.
The statement reads, "The Management of Agidigbo FM has described as fake news, the rumour circulating round that the chairman of Agidigbo 88.7FM Oriyomi Hamzat, ex-queen of Ooni of Ife Naomi Silekuola and the Principal of Islamic High School Abdullahi Mfasasi, have been released from prison, therefore urged the public to disregard the rumour and warned those spreading it to desist from such act.
"Stop the spread of fake news!!"
SaharaReporters reported on Saturday that Naomi Silekunola, who is being detained at Agodi prison following the stampede that claimed the lives of 35 people in Ibadan, Oyo State, was on hunger strike.
It quoted the mother, Mrs Funmilayo Ogunseyi, to have revealed this in an interview, claiming that when she visited her on Thursday at the custodial centre, she wasn’t feeling fine.
"She wasn’t happy about the whole incident. She loves children. The queen loves and helps children, single mothers, old women, and widows. She is still in pain that those children lost their lives because her intention was pure," Ogunseyi said.
Ogunseyi explained that organising such an event to help people was what Naomi had been doing for years.
Hamzat and Mfasasi were arraigned on December 24 before a Magistrate Court in Ibadan and subsequently remanded in prison.
Local councils in Nigeria are set to start receiving direct allocations from the Federation Account next month, marking a significant shift in their financial autonomy.
Naija News reports that this follows the Supreme Court’s July 11 ruling granting financial independence to councils.
A source familiar with the matter confirmed to The Nation that the disbursement for December’s allocation will be sent directly to local councils in January, ending months of delays in implementing the court’s judgment.
While some councils have already been receiving their allocations directly, this new directive will ensure all 774 local councils nationwide gain financial independence.
According to a member of the Inter-Ministerial Committee overseeing the process, all outstanding issues have been resolved to enable the smooth rollout.
Governors’ Resistance and Autonomy Challenges
The joint state-local government account, which previously controlled council allocations, has faced resistance from many governors who are unhappy with the Supreme Court’s decision.
Despite this, the Federal Government is moving forward with plans to fully operationalise direct allocations.
The committee member explained: “A few LGAs have already started receiving their direct allocations but all of the 774 LGAs will fully start receiving their allocations from January 2025.
“Our committee will reconvene in January to review its progress and finalise measures before the Accountant-General of the Federation issues authorisation for the complete rollout.
“This is a critical juncture in Nigeria’s governance structure.
“Our January 2025 meeting will also address the actions of governors attempting to undermine the autonomy of democratically elected LGA chairmen, deputies, and councillors, ensuring they are not coerced into serving state interests.”
The committee is also set to address governors’ interference in local council operations.
This includes cases like in Edo State, where the governor allegedly influenced the suspension of elected local government chairmen over financial disputes.
“It is highly undemocratic for governors to dissolve elected LGAs.
“Such actions undermine the autonomy granted to local governments and create an environment where LGAs become pawns in the hands of state executives,” the source added.
Federal Government’s Commitment
The Federal Government, under President Bola Ahmed Tinubu, has strongly supported the financial autonomy of local councils.
The Inter-Ministerial Committee, chaired by Secretary to the Government of the Federation (SGF) George Akume, has worked diligently to implement the Supreme Court ruling.
Committee members include Coordinating Minister of the Economy Wale Edun, Attorney-General of the Federation Lateef Fagbemi (SAN), Minister of Budget and Economic Planning Abubakar Bagudu, Accountant-General of the Federation Oluwatoyin Madein, Central Bank Governor Olayemi Cardoso, and the Revenue Mobilisation Allocation and Fiscal Commission Chairman Muhammed Shehu, among others.
Controversial social critic, Verydarkman, has revealed that ₦78 million out of the ₦160 million allegedly stolen from his NGO’s account has been recovered.
This update comes days after he took to Instagram to report the hacking of the organization’s account, alleging that N180 million had been siphoned.
The initial claims of the alleged hack sparked mixed reactions across social media, with some questioning the authenticity of the incident.
Critics doubted the existence of such a large sum in the NGO’s account, while supporters urged patience as investigations unfolded.
On Sunday, Verydarkman provided an update on Instagram, expressing gratitude for the progress made in recovering part of the stolen funds.
He said, “Thanks to the people who called to check up on me. I also want to thank God for the process so far: we have been able to recover N78m, even though the suspect pointed out that the person he did with has run to Ghana, so hopefully, we would be going to Ghana very soon.”
Meanwhile, Nigerian cryptocurrency entrepreneur and businessman, Linus Williams, known as BLord, has called out VeryDarkMan on an alleged loss of charity fund.
Reacting to the controversy, BLord, who Otse had criticized, demanded that he provide the ₦160 million donated to his charity foundation by Nigerians for helping the poor.
The Confederation of African Football (CAF) has taken decisive action against Libya by imposing a substantial financial penalty of $50,000 and mandating that the national team play two upcoming matches behind closed doors.
This decision comes in response to alarming incidents of misconduct by both supporters and officials during the 2025 Africa Cup of Nations (AFCON) qualifier against Benin, which took place in Benghazi on November 18.
This latest infraction follows closely on the heels of another significant disciplinary action against Libya just two months prior. In October, the Libyan football authorities faced backlash for their handling of a separate AFCON qualifier against Nigeria.
Libyan officials were accused of deliberately diverting the Nigerian Super Eagles’ aircraft to a potentially unsafe airport, an act that drew widespread condemnation and raised serious concerns about the well-being of the visiting team.
In addition to Libya’s sanctions, CAF’s disciplinary committee also addressed a separate matter concerning Guinea. The committee dismissed an appeal from Guinea, which sought to have Tanzania disqualified from the upcoming 2024 AFCON.
Guinea’s complaint centred on the claim that Tanzanian substitute Ibrahim Ame wore an incorrect shirt number (26) that was not included in the official team sheet for their qualifier, leading to questions about compliance with tournament regulations.
In addition to Libya’s penalties, CAF has also handed down sanctions to other nations, including Benin and Equatorial Guinea, though the specific details regarding their punishments are yet to be disclosed.