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Alleged ₦76bn, $31.5m Fraud: Ex-Union Bank Chief Testifies on Arik Air Loan Scandal

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May 31, 2025

The case involves the former Managing Director of the AMCON, Ahmed Kuru, along with five others, including the Union Bank, the Arik Air Managing Director, and others

Alleged ₦76bn, $31.5m Fraud: Ex-Union Bank Chief Testifies on Arik Air Loan Scandal

A former Union Bank executive has testified in the ongoing fraud trial involving the controversial takeover of Arik Air, shedding light on the airline’s financial assessment and the role played by key institutions in its asset management.

The case involves the former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, along with five others, including Union Bank, Arik Air Managing Director Roy Ilegbodu, Receiver Manager Kamilu Omokide, and Super Bravo Limited. They are all facing six charges related to the alleged misrepresentation of Arik Air’s financial standing and an extensive asset-stripping scheme.

The Economic and Financial Crimes Commission (EFCC), in a statement on Thursday, confirmed that Mr. Obigwe, a former Union Bank executive, appeared on Wednesday as the second prosecution witness.

He was cross-examined by a team of senior defence lawyers, including SANs Olasupo Shasore (second defendant), Olalekan Ojo (fourth defendant), and Tayo Oyetibo (fifth defendant). Prosecution was led by Wahab Shittu, also a Senior Advocate of Nigeria.

During his testimony, Obigwe stated that in 2009, he participated in an official inspection of 26 aircraft owned by Arik Air. The evaluation, which was conducted with input from Lufthansa, reportedly confirmed that the aircraft were airworthy and in good condition.

“I had no reason to doubt Lufthansa’s evaluation,” Obigwe told the court, explaining that the inspection was intended to ensure that Arik Air’s fleet remained intact and had not been depleted.

The trial, which centers on allegations of financial manipulation amounting to ₦76 billion and $31.5 million, continues to draw significant public and industry attention due to its implications for corporate governance and asset recovery in Nigeria’s aviation and banking sectors. Read More

“Tems Had Just ₦200 When We Met” – Manager Muyiwa Awoniyi Shares Humble Beginnings

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May 31, 2025

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Awoniyi detailed the unique moment that changed their relationship from friendship to business partnership

“Tems Had Just ₦200 When We Met” – Manager Muyiwa Awoniyi Shares Humble Beginnings

Muyiwa Awoniyi, manager of Grammy-winning Nigerian singer Temilade Openiyi, popularly known as Tems, has opened up about her humble beginnings, revealing that she had only ₦200 in her account when they first crossed paths.

Speaking on the Afrobeats Intelligence podcast, Awoniyi recalled how the now-globally acclaimed artist was financially struggling but radiated determination and integrity that set her apart.

“When I met Tems, she only had like 200 Naira in her account,” Awoniyi said. “Then I had a production company. So, if I had money, I would buy food. But even when she had nothing, she would still order food for us. She didn’t even have a way of earning. That’s when I realised she was different from everyone I had seen in Nigeria.”

Awoniyi detailed the unique moment that changed their relationship from friendship to business partnership.

“There was something Tems did that made me say, ‘I don’t want to do a managerial contract with you, let’s do a company,’” he recalled. “When she asked me to be her manager, I agreed and said I would send her a contract to sign. But instead, she was the one chasing me to sign my part. I had never experienced that before.”

According to him, they had been friends for about three months before discussing anything work-related. During that time, Tems would quietly sit in on his podcast recordings without ever pushing herself forward.

“You know when you present paperwork for artists to sign, it’s always tricky. But she was chasing me to sign my own part,” Awoniyi continued. “That was the moment I thought, ‘You’re

NNPCL Cuts Petrol Price by ₦15 Amid Growing Market Competition

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May 31, 2025

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This price reduction comes just days after the Dangote Refinery and its partners slashed their petrol prices

NNPCL Cuts Petrol Price by ₦15 Amid Growing Market Competition

The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of Premium Motor Spirit (PMS), commonly known as petrol, by ₦15 per litre.

Checks across NNPCL filling stations in Abuja — including locations along Kubwa Expressway, Central Business District, and Wuse Zone 4 — revealed that the pump price has dropped from ₦910 to ₦895 per litre.

Reacting to the price cut, Abuja-based motorist Muhammad Ibrahim described the move as a necessary adjustment in line with market trends.
“It is long expected because other filling stations have reduced their petrol prices,” he said.

This price reduction comes just days after the Dangote Refinery and its partners slashed their petrol prices to ₦875 and ₦895 per litre in Lagos and Abuja respectively, intensifying market competition.

Other independent filling stations had also previously adjusted their prices, ranging between ₦900 and ₦910 per litre, in response to market forces.

Commenting on the shift, Chinedu Ukadike, spokesperson of the Independent Petroleum Marketers Association of Nigeria (IPMAN), noted that the liberalisation of the downstream oil and gas sector is beginning to yield results.

“Marketers are now competing favourably with NNPCL,” Ukadike said, while also criticizing what he described as NNPCL’s lingering monopoly, especially amid ongoing debates about the rehabilitation of the Port Harcourt, Warri, and Kaduna refineries.

The latest development signals a growing price war in Nigeria’s fuel market, as private players ramp up operations and challenge NNPCL’s longstanding dominance. Read More

“Go Jump in the Atlantic!”– Orji Kalu Blasts Critics, Says “I Stand with Tinubu”

Politics

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May 31, 2025

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Kalu urged critics to respect political choices and focus on their own affiliations rather than meddling in his

“Go Jump in the Atlantic!”– Orji Kalu Blasts Critics, Says “I Stand with Tinubu”

Former Abia State governor and current Nigerian senator, Orji Uzor Kalu, has fired back at those criticizing his open support for President Bola Tinubu’s second-term ambition, dismissing their backlash in blunt terms.

In a video circulating online, Kalu didn’t mince words when addressing his detractors, saying, “They are talking real bullshit, they can go to the Atlantic Ocean and jump in.”

The outspoken lawmaker, a member of the All Progressives Congress (APC), reaffirmed his loyalty to the party and to President Tinubu, stressing that it would be absurd for him to campaign for any other presidential candidate.

“I’m a member of APC, Tinubu is APC and the leader of the APC. And he is our presidential candidate as endorsed by the party. Am I going to campaign for another presidential candidate? The answer is no!” Kalu declared.

He urged critics to respect political choices and focus on their own affiliations rather than meddling in his.

“My duty is to campaign for my party and other people should learn how to campaign for their party. And people should mind their business, their business should be their business, and my business is to project my party and vote for our party to win or lose,” he stated.

Kalu, known for his no-holds-barred rhetoric, emphasized that his commitment lies firmly with the APC and questioned why others are so bothered by his political stance.

“So why won’t they mind their business? Am I going to campaign for another person in another political party? The answer is no!” he reiterated.

Wrapping up his response with characteristic boldness, Kalu dismissed the criticism entirely: “So, for me, they are talking real bullshit, they can go to the Atlantic Ocean and jump in.”

His remarks have since sparked conversations online, with supporters and opponents clashing over his unapologetic defense of President Tinubu. Read More

Lagos State Invests Over ₦8.4 Billion in Creative Economy, Tourism in One Year – Commissioner

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May 31, 2025

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Lagos State Invests Over ₦8.4 Billion in Creative Economy, Tourism in One Year – Commissioner

The investment reflects Governor Babajide Sanwo-Olu’s unwavering vision to build a resilient creative economy that empowers talents and amplifies the global visibility of Lagos as a dynamic cultural capital

Lagos State Invests Over ₦8.4 Billion in Creative Economy, Tourism in One Year – Commissioner

The Lagos State Government has invested over ₦8.4 billion in the creative and tourism sectors within the last year, according to the Commissioner for Tourism, Arts and Culture, Mrs. Toke Benson-Awoyinka.

Speaking during the Ministerial Press Briefing on Wednesday in Alausa, Ikeja, to mark Governor Babajide Sanwo-Olu’s sixth year in office, the Commissioner revealed that the State supported 143 cultural, arts, and tourism events—including festivals—with a total sum of ₦8,475,238,265.00.

“This investment reflects Governor Babajide Sanwo-Olu’s unwavering vision to build a resilient creative economy that empowers talents, preserves our rich heritage, and amplifies the global visibility of Lagos as a dynamic cultural capital,” said Benson-Awoyinka.

She highlighted that the wide-ranging support spanned local community festivals to major international art exhibitions, serving as platforms for job creation, youth empowerment, tourism promotion, and broader economic revitalisation.

The Commissioner added that beyond financial support, the Ministry issued over 124 endorsement letters to creative individuals and organisations, enabling them to secure sponsorships and partnerships for their projects.

“These initiatives cut across music, film, fashion, visual arts, theatre, and cultural tourism,” she noted, emphasising that many of the supported events have attracted both local and international audiences, strengthening Lagos’s reputation as Africa’s creative hub.

Reaffirming the Ministry’s commitment to continued growth in the sector, Benson-Awoyinka called for deeper private sector collaboration.

“We remain open to partnerships and stakeholder engagement that will sustainably transform Lagos into a global beacon for the creative economy,” she said. Read More

EFCC Slams Emefiele with Fresh Charges Over Alleged Theft, Secret Acquisition of 753 Housing Units

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May 30, 2025

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EFCC Slams Emefiele with Fresh Charges Over Alleged Theft, Secret Acquisition of 753 Housing Units

The Economic and Financial Crimes Commission (EFCC) has filed a fresh set of explosive charges against former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, accusing him of masterminding a high-level property acquisition scandal and laundering billions of naira while in office.

According to court documents filed Friday at the High Court of the Federal Capital Territory, Abuja, Emefiele is now facing eight new counts centered on the unlawful acquisition of a sprawling estate of 753 housing units in the Lokogoma District of Abuja. The estate, located on Plot 109, Cadastral Zone C09, spans a massive 150,462.86 square meters.

The EFCC alleges that Emefiele, in collaboration with one Eric Ocheme—reportedly on the run—secured the estate in August 2021 while still serving as CBN governor. Investigators claim the estate was obtained with illicit funds funneled through front companies and proxy accounts.

The agency had earlier obtained a court order to seize the estate, officially handing it over to the federal government last week. However, in a twist, Emefiele has since approached the Court of Appeal in Abuja to reverse the order, claiming ownership was wrongfully transferred.

Billions in Suspicious Accounts

The charges don’t stop at real estate. The EFCC says Emefiele stored billions of naira in proxy accounts, suggesting a complex web of financial misappropriation:

₦167 million was deposited in a Zenith Bank account in 2019, allegedly under a proxy’s name.

In 2020, ₦1.23 billion was held in an account belonging to Kelvito Integrated Services.

In 2021, that figure ballooned to ₦2.94 billion in the same account.

In 2022, another ₦1.98 billion appeared in Kelvito’s account, also deemed suspicious.

Separately, ₦900 million and ₦600 million were found in accounts linked to Ifedigo Integrated Services.

All of these funds, according to prosecutors, are “reasonably suspected to have been unlawfully obtained.”

A Web of Forgery and Conspiracy

The new charges also include allegations of forgery, with the EFCC accusing Emefiele of fabricating a legal document titled “Irrevocable Power of Attorney Between MG Properties Limited and H and Y Business Global Limited.” The forgery, allegedly committed in January 2021, was reportedly intended to facilitate a shady property deal.

The offences contravene Sections 319, 362, and 364 of the Penal Code, the commission stated.

More Legal Trouble Looms

This is just the latest chapter in Emefiele’s mounting legal woes. He is already battling multiple corruption charges in both Lagos and Abuja. In Lagos, he faces accusations of fraudulent foreign exchange allocations totalling $2 billion.

Other charges include criminal conspiracy, abuse of office, and breach of trust—offences that could carry serious penalties if proven.

Despite the mounting evidence and growing list of witnesses—24 so far—Emefiele has consistently denied all allegations. He claims the charges are politically motivated and maintains his innocence.

Emefiele, who served as CBN governor from 2014 until June 2023, was removed from office by President Bola Tinubu and arrested shortly after by the State Security Services (SSS). He later resigned while still in custody. Read More

Sallah Support: Turkiye to Distribute 6,000 Cows to Needy Nigerians

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May 30, 2025

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Sallah Support: Turkiye to Distribute 6,000 Cows to Needy Nigerians

Abuja — In a major humanitarian gesture ahead of Eid al-Adha (Sallah), the Turkiye Diyanet Foundation (TDV) has announced plans to slaughter and distribute 6,000 cows across 11 Nigerian states and the Federal Capital Territory (FCT).

The initiative, part of TDV’s annual Qurbani project, targets vulnerable and indigent Muslim communities in states including Bauchi, Oyo, Sokoto, Gombe, Kano, Nasarawa, Plateau, Kaduna, Kogi, Niger, and Jigawa.

The meat from the sacrificial animals will be shared during the Sallah festivities to ease food insecurity and foster solidarity among Muslim families.

The Turkish foundation has become a notable name in Nigeria’s humanitarian space, with ongoing efforts that include mosque construction, Ramadan iftar meals, borehole projects, educational scholarships, and free medical outreach, including surgeries.

This year’s Sallah meat distribution is expected to benefit thousands of households across the country. Read More

Ex-Minister Amaechi Plots Political Statement with Grand 60th Birthday Bash in Abuja

Politics

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May 30, 2025

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Ex-Minister Amaechi Plots Political Statement with Grand 60th Birthday Bash in Abuja

Staff Writer

Former Minister of Transportation and ex-Governor of Rivers State, Rotimi Amaechi, is set to mark his 60th birthday in grand political fashion this Saturday, May 31, 2025, with a high-powered two-part event in Abuja that insiders say could signal a new chapter in his political playbook.

Although Amaechi turned 60 on May 27, sources close to the former governor say the real celebration is slated for the weekend—strategically timed and meticulously planned not just as a personal milestone but as a potential political statement ahead of the 2027 general elections.

The celebration will kick off at 10 a.m. with a birthday lecture at the Ladi Kwali Hall of the Abuja Continental Hotel (formerly Sheraton). Themed “Weaponization of Poverty as a Means of Underdevelopment: A Case Study of Nigeria,” the lecture is expected to draw dignitaries, thought leaders, and political heavyweights from across the country.

Later in the evening, attention will shift to the Transcorp Hilton for a lavish Birthday Gala beginning at 7 p.m., where Amaechi will host a constellation of politicians and allies—many of whom have remained loyal since his days as Speaker of the Rivers State House of Assembly (1999–2007).

Newsheadline247 gathered that invitations have gone out to an extensive list of past and present lawmakers, including former speakers from across the country. Notably, whispers in political circles suggest that the guest list—and the tone of the events—are designed to reassert Amaechi’s relevance on the national stage amid an increasingly complex political landscape.

While President Bola Tinubu is expected to send a representative, observers note that Amaechi’s recent political isolation from the APC hierarchy and his continued rivalry with Nyesom Wike—his one-time ally turned arch-foe—have raised the stakes around his next move.

Once allies, Amaechi and Wike have become locked in a high-profile feud, worsened by a controversial power arrangement that left Wike, now a key figure in the opposition PDP, wielding significant influence in Rivers State to Amaechi’s detriment.

Those familiar with the plans describe the birthday as a “no-expense-spared” event, with full accommodations reportedly arranged for out-of-town guests. “It’s not just a party—it’s a platform,” one source hinted, suggesting that the celebrations could serve as a springboard for Amaechi’s political repositioning.

As the political class converges in Abuja this weekend, all eyes will be on Rotimi Amaechi—not just to toast his 60th birthday, but to decode the signals from what is shaping up to be one of the most politically symbolic celebrations of the year. Read More

Fidelity Set to Hold 3rd Edition of FITCC in Atlanta, USA September 2025

Banking

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May 30, 2025

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Fidelity Set to Hold 3rd Edition of FITCC in Atlanta, USA September 2025

Leading African financial institution, Fidelity Bank Plc, is set to hold the 3rd edition of its flagship market access platform, the Fidelity International Trade and Creative Connect (FITCC) Expo from September 18 to 20, 2025, at the Omni Atlanta Hotel at Centennial Park, Georgia, USA.

In a strategic move to deepen diaspora and transatlantic business linkages, Fidelity Bank is partnering with Amplify Africa, the organizers of AFRICON, the leading African diaspora business and culture summit in the United States. This collaboration brings together two powerful platforms committed to bridging African enterprise with global opportunity.

“Since 2022, when we hosted the maiden edition, FITCC has evolved beyond a platform for promoting Nigeria’s non-oil exports to become a veritable showcase of the immense value Nigeria has to offer the global market.

“As part of our commitment to developing platforms that promote economic growth, creativity, and sustainable trade both within Nigeria and internationally, we are pleased to announce the third edition of FITCC. Since 2022 when we hosted the inaugural edition, the FITCC expo has been at the heart of driving global market access for local businesses and I am delighted that this year we will be in the city of Atlanta, USA,” stated Dr Nneka Onyeali-Ikpe,OON, Managing Director/Chief Executive Officer of Fidelity Bank Plc.

Following the success of previous editions in London and Houston, which collectively generated a consolidated deal pipeline exceeding US$500 million, FITCC Atlanta 2025 will convene over 100 Nigerian exporters, alongside U.S. buyers, investors, policy stakeholders, and diaspora-led business networks.

The expo will spotlight strategic sectors including agriculture, consumer-packaged goods, energy transition minerals, fashion, beauty, and the broader creative economy. Programming highlights include business exhibitions, B2B matchmaking, policy dialogues, diaspora investment panels, and curated workshops focused on expanding Nigeria’s access to global markets.

FITCC 2025 is expected to attract over 3,000 participants, including development finance institutions, chambers of commerce, trade facilitation agencies, and multinational corporations. The event is also aligned with ongoing government-led efforts to expand U.S.–Nigeria trade and investment under emerging bilateral frameworks.

Interested participants can register to attend by visiting https://www.fidelitybank.ng/fitcc/#start_registering

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards. Read More

Trailblazing Honour: Aare Adetola Emmanuelking Receives CAN’s First ‘Knight of Faith’ Title

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May 30, 2025

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Trailblazing Honour: Aare Adetola Emmanuelking Receives CAN’s First ‘Knight of Faith’ Title

“This is a divine call, not just to me but to every Christian in leadership” – Aare Adetola Emmanuelking

Trailblazing Honour: Aare Adetola Emmanuelking Receives CAN’s First ‘Knight of Faith’ Title

The Christian Association of Nigeria (CAN), South West Nigeria, on Thursday, 22nd May 2025, officially conferred its first-ever “Knight of Faith” title upon renowned business mogul and philanthropist, Aare Adetola Emmanuelking, in recognition of his dedication to the Christian faith, nation-building, and exemplary leadership in business and community development.

The historic investiture, themed “Celebrating Distinction and Faithful Stewardship,” was held at the Garden of Faith, Abeokuta. The occasion also featured the induction of several eminent Nigerians as Distinguished Patrons of the association, including the Inspector General of Police, Dr. Kayode Egbetokun; the Deputy Comptroller General of Nigeria Customs, Barr. Olaniyi Alajogun; and legendary gospel music icon, Sir Evangelist Prof. Ebenezer Obey-Fabiyi (MFR).

The event was chaired by the CAN South West Chairman, Bishop Tunde Akin-Akinsanya, and graced by His Excellency Prince Dapo Abiodun, CON, Executive Governor of Ogun State, who serves as the Grand Patron of the association. The Governor was ably represented by the Secretary to the State Government, Hon. Tokunbo Talabi.

Also present were top dignitaries, including the Commissioner for Environment, Hon. Ola Oresanya; Commissioner of Police, Ogun State Command, CP Olanrewaju Ogunlowo; Royal Fathers, the President of the Christian Association of Nigeria, His Grace Most Rev’d (Dr.) Daniel Chukwudumebi Okoh; several CAN State Chairmen, and other influential figures from across the country.

The spiritually charged event featured soul-lifting gospel music performances, intercessory prayers, official decoration of all awardees, and a special empowerment program. In a remarkable gesture of generosity, Aare Adetola Emmanuelking donated a plot of land in one of Adron Homes’ prestigious estates to the winner of the empowerment program, emphasizing his longstanding commitment to economic empowerment and community transformation.

In his acceptance speech, Aare Emmanuelking expressed profound humility and gratitude for the honour, dedicating it to God and the entire body of Christ. He emphasized that the conferment was a divine mandate to do more.

“This is a divine call, not just to me but to every Christian in leadership,” he said. “I charge every believer to uphold the values of our faith, integrity, love, excellence, and service. In these trying times, the world needs more light-bearers. Let us not shrink our influence, but shine boldly for Christ.”

He further urged fellow Christian brethren to remain unshaken in their commitment to godly principles and to be intentional in advancing the cause of the Kingdom in every sector of society.

The “Knight of Faith” sash, unveiled during the ceremony, now stands as a lasting symbol of spiritual distinction and kingdom stewardship. This momentous event marks a significant chapter in faith-based leadership recognition and affirms CAN South West’s mission to celebrate lives that embody Christ-like values and contribute meaningfully to national development. Read More