The Economic and Financial Crimes Commission on Monday tendered several financial documents before the Special Offences Court sitting in Ikeja, Lagos, alleging that billions of naira and foreign currency loans belonging to Arik Air were diverted and used to establish NG Eagle Airlines.

Investigating officer, Bawa Kaltungo, presented the findings while being led in evidence by prosecution counsel, Dr. Wahab Shittu (SAN).

Former Managing Director of the Asset Management Corporation of Nigeria, Mr. Ahmed Kuru, is standing trial alongside Kamilu Alaba Omokide, Captain Roy Ilegbodu, Union Bank Plc, and Super Bravo Limited.

Kaltungo told Justice Mojisola Dada that Arik’s account officer documented the transfer of N1.9bn and N4.9bn from Arik Air for activities unrelated to its operations, including costs attributed to NG Eagle

He further stated that NG Eagle’s expenses, including staff salaries and quarterly financial obligations, were paid from Arik’s accounts.

He tendered several documents, including correspondence, internal memos, restructuring records, notices of assignment, and payment instructions, which he said formed part of the EFCC’s findings.

A 2010 document allegedly signed by Arik’s CEO showed a payment of N100m, while another indicated that Arik serviced foreign loans totaling $114,784,000 from export credit agencies.

According to Kaltungo, Arik executed quarterly repayments on these loans through authorised transfers.

The witness also highlighted evidence showing Union Bank’s restructuring of Arik’s debt in 2010 and 2011, including a November 2010 approval and a December 2010 update.

He tendered a 2015 general indemnity valued at over N46 bn, which guaranteed the bank’s exposure.

Kaltungo read part of a 2011 letter where Arik questioned Union Bank over the alleged sale of its loans to AMCON, noting that the airline received no formal notice and sought clarity on its agreements with foreign credit agencies.

Another document, a February 2011 Notice of Assignment, indicated third-party involvement in the transactions.

He cited several letters from 2010 and 2011 authorising transfers involving Arik’s safety accounts, operating accounts, loan commitments and maintenance payments, including a  $4.6m transfer acknowledged by both Arik and Union Bank.

One June 2010 letter showed Arik’s chairman expressing appreciation to Union Bank for its support and listing achievements of the partnership.

Kaltungo also described correspondence between AMCON and Union Bank, adding that Arik was not informed about the loan sale.

He noted irregularities in figures supplied, saying,“What Union Bank sold is N71 bn, but I am seeing N34bn; the figure does not reflect what Union Bank sold to AMCON.”

He read a January 21, 2011 letter from Arik to former President Goodluck Jonathan seeking government intervention.

The EFCC investigator further revealed that Arik Air leased crew members to Ibom Air and received payments, but said the money was not accounted for under the receivership managed by the first defendant.

Evidence of transfers from Ibom Air’s Zenith Bank account supported the claim.

Kaltungo added that a certificate of identification, along with Arik’s 2015 and 2016 annual statements, showed that the airline was not under receivership at that time, contrary to reported claims.

He said receivership commenced on February 17, 2017, yet signatures attributed to receivership appeared on documents from 2015 and 2016, signed by the first and second defendants who were not Arik staff.

He tendered a board resolution showing that an Arik Air aircraft engine was leased back to Arik, with defendants directing that payments should go into AMCON remittal account.

The agreement required: $70,000 monthly basic rent, payable in advance; $340 per flight hour; and $200 per completed engine cycle.

The agreement was signed by a director of Super Bravo Limited.

The matter was adjourned  till January 2 and 3, 2026, for continuation of trial.

The Nigeria Governors’ Forum (NGF) says President Bola Tinubu acted in Nigeria’s best security interest when he deployed military assets to stop and reverse the coup attempt in Benin Republic.

In a statement on Monday, NGF Chairman and Kwara State Governor AbdulRahman AbdulRazaq said Nigeria would have faced serious security problems if the coup had succeeded.

He explained that militants and other hostile groups in the Sahel could have used the situation to further destabilise Benin.

“Apart from admirably acting in support of democracy in the subregion, the President acted in the best interest of our country and West Africa with the intervention. With the Sahel in disarray and dire security conditions, and a significant portion of Benin, especially the W-forest, already infested by the militants, a successful coup would have had devastating effects on our own country due to our proximity to Benin Republic which shares border with many of our states,” the statement said.

The Forum praised the President and the Nigerian military for acting on time and helping restore stability and constitutional rule in Benin.

“It is our position that democracy, whatever its challenges, remains the best form of government for regional peace, stability, and development,” the Forum said.

“Subsuing the coup on the invitation of Benin Republic is a big plus for the collective security efforts by ECOWAS in the region and for Nigeria in particular. For instance, security threats on Porto Novo, Cotonou, or Parakou constitute grave security risk to Nigeria, and the President’s firm action is an effective check to this.”

Special Assistant to former Minister of Petroleum, Timipre Sylva, Julius Bokoru, has condemned the sealing of his principal’s Maitama residence in Abuja by the Economic and Financial Crimes Commission, EFCC.

Bokoru expressed his displeasure in a statement issued on Monday, titled “A grave breach of decency: EFCC’s attempted raid and defacement of Sylva’s family home.”

DAILY POST recalls that in November, the EFCC declared the former Bayelsa governor wanted over an alleged $14.8m fraud.

Earlier, agents of the military intelligence stormed his Abuja home, arresting his brother and driver over his alleged link to an alleged failed coup attempt.

The media aide had criticised the anti-graft agency for failing to invite the former minister before launching a manhunt for him.

Similarly, Sylva wrote to the EFCC last week, seeking a mutually agreed date to honour its invitation.

Bokoru said the latest action by the commission was undertaken without a single letter, without a subpoena, without a warrant, without notification, and without even the most basic adherence to lawful process.

“No courtesy. No procedure. No humanity. It is behaviour unbecoming of any institution that claims to act in the national interest.

“What unfolded today at the Maitama residence of His Excellency, Chief Timipre Sylva, was nothing short of an affront to decency and a troubling assault on the very principles that underpin a civilised society,” the statement read in part.

 

Lagos State Governor, Babajide Sanwo-Olu, has urged both local and international investors to seize emerging opportunities in the state, citing Lagos’ rising ranking in ease of doing business and major improvements in its investment landscape.

According to a post cited on Lagos State’s X account on Tuesday, Sanwo-Olu made the call during the inauguration of TY Logistics Park, FZE, an ultra-modern warehousing and trade complex located in Alaro City, within the Lekki Free Zone.

The project, developed by TY Holdings, he said represents a significant addition to Nigeria’s logistics and supply chain infrastructure.

The governor said, “Lagos recently clinched the top position in Nigeria’s latest Subnational Ease of Doing Business report released by the Presidential Enabling Business Environment Council (PEBEC), scoring 85.6 per cent and emerging as the country’s best-performing investment destination.

“The new ranking reflects Lagos’ consistent reforms, infrastructure upgrades and deliberate policies designed to make the state the most attractive market for enterprise and innovation.”

Inaugurating the 29,000-square-metre logistics facility alongside Taraba State Governor, Agbu Kefas, Sanwo-Olu praised TY Holdings for its sustained confidence in Lagos and described the development as “a landmark investment that strengthens Lagos’ economic narrative.”

According to him, the project reinforces Alaro City’s transformation into a preferred industrial hub in sub-Saharan Africa, aligning with Lagos’ broader economic agenda to modernise logistics, attract foreign investment and drive sustainable growth.

Sanwo-Olu also highlighted ongoing efforts to improve mobility and trade efficiency within the Lekki corridor, including plans for a dedicated road linking Lekki Port, Dangote Refinery and Alaro City to reduce pressure on the Lekki-Epe Expressway.

He added that Lagos is currently constructing what will become the largest food logistics hub in West Africa.

In his remarks, Kefas commended the initiative and expressed pride in Taraba State’s participation, noting that the project strengthens inter-state economic cooperation, especially in the movement of agricultural produce from Taraba to Lagos processing hubs and markets.

The Senior Staff Association of Nigerian Universities, SSANU, has given the Federal Government up to December 31, 2025, to conclude its ongoing renegotiation with the union, warning that universities will be shut down indefinitely from January 2026 if the talks remain unresolved.

In a communiqué issued on Monday after its 53rd National Executive Council, NEC, meeting at the University of Jos, and signed by its President, Mohammed Haruna Ibrahim, SSANU said the government has failed to show commitment to addressing issues affecting non-teaching staff.

The union accused the government of sidelining its members in the payment of Earned Allowances and in the renegotiation process.

It insisted that the N50 billion agreed upon in the 2022 MoU be released immediately and that Inter-University Centres and research institutes excluded from previous payments be included in the next disbursement.

SSANU warned that failure to conclude a credible renegotiation by the end of December would trigger “total and comprehensive” industrial action.

The union also raised concern over the rising spate of school kidnappings, saying the recent abductions in Kebbi and Niger States reflect worsening insecurity around educational institutions.

It urged the government to strengthen campus security through modern surveillance systems, improved perimeter protection and better intelligence gathering.

SSANU rejected the Federal Ministry of Education’s proposal to introduce Public-Private Partnership, PPP, arrangements for municipal services in universities, saying previous PPP models in other sectors had led to job losses and poorer working conditions.

It insisted that no staff should lose their jobs or be downgraded under any such arrangement.

The communiqué also highlighted the deteriorating state of infrastructure in universities, citing unreliable electricity, faulty water systems, dilapidated hostels, outdated laboratories and weak security structures.

It called for predictable funding, timely releases and stricter monitoring of resources.

The union said rising inflation and fuel costs have worsened the hardship faced by university workers and demanded an urgent wage review in line with current economic realities.

Association of Ngor Okpala Journalists (ANOJ), has raised the alarm over the upsurge of insecurity in parts of Ngor Okpala Local government Area of lmo State, especially around the Sam Mbakwe airport, Umuowa-Ihitte-Umuhu-Okpala axis along Owerri-Aba Expressway.

The Association said the recent reports, both confirmed and unconfirmed, have continued to indicate that the above-mentioned areas have been taken over and are currently under siege by bandits/terrorists.

It stated that between Monday 1st and Tuesday 2nd December 2025, there were reported incidents of attacks on unsuspecting motorists allegedly resulting in abduction and killing of passengers by the suspected bandits/terrorists.

It noted that the attack on the Advance Team of Abia State Governor’s Office that was heading to the Imo Airport is one case too many and a clear pointer to the alarming wave of the terrorists’ menace.

In a joint statement issued on Sunday by the Chairman, Comrade Athan Agbakwuru and Comrade Henry Amadi, the Secretary, they alleged that the Association have it on good authority that the adjoining vast bushes in the mentioned areas have become the hideouts and safe haven to the daredevil terrorists.

They added that available information further revealed that several decomposing corpses and personal valuables belonging to attacked victims were discovered in the bushes during separate periodic combing exercises by the Ihitte Okwe, Umuowa, and Umuhu communities.

Part of the statement reads, “it’s on record that in the past two years or more, Ngor Okpala has become a flashpoint for insecurity.

“A woman was killed in her farm at Amala, another pregnant woman was slaughtered near the Airport Runway at Umueze Ezemba, staff of FAAN was kidnapped with his kinsman about June this year, commercial motorcyclist was attacked, killed and his bike snatched along Umuohiagu-Umuowa Road. The list is still counting.

“These series of violent crimes have continued to pose a grave threat to commercial, economic, social and political activities in our area.

“The ugly scenario has also portrayed our peaceful locality in bad and dangerous light as an unsafe place for innocent natives, residents and passersby but a haven for bandits and terrorists.

“It’s yet uncertain who the criminals perpetrating the heinous crimes are–our own people or armed Fulani herdsmen, Boko Haram or ISWAP terrorists.

“There is a military checkpoint at Umuowa, the Airport Junction, a few metres away from where bandits are holding sway and having a field day.

“Most worrisome is the fact the ease with which they operate and no proactive or responsible action taken to foil any attack or apprehend the culprits during or after operations.

“The Divisional Police Officer, DPO, and his men and the military in Ngor Okpala should rise to the occasion and fish and flush out the criminals without further delays.

“The Imo State Police Command, Military and Nigeria Security and Civil Defence Corps, NSCDC, in collaboration with community vigilante and youth groups should wake up and clear the bushes of unwanted residents therein.

“Traditional rulers, religious and political leaders and everyone in Ngor Okpala must have to be vigilant and ready to assist security agencies with factual information to enable them get to the root of the menace.

“The strategic position of Ngor Okpala as the host to Sam Mbakwe International Cargo Airport, SMICA, Owerri, and a link Abia, Rivers States and Imo State make it inevitably imperative for immediate and urgent action against the rising wave of banditry in the area.

“We have taken necessary cognizance of the intervention of the Imo State Police Command last weekend and commend same but urge and insist that the authorities must sustain the crackdown until the culprits are brought to book and made to face the full wrath of the law.”

The University of Ibadan, UI, is more than a higher institution. It is a launchpad that prepares people for success, according to Mrs. Bola Olajomi-Otubu, alumna of the institution and Chief Executive Officer of Beige Spaces Limited, a design and construction firm.

Speaking at the Class of 2025 convocation ceremony, Olajomi-Otubu described UI as a foundational “training ground” and a “refining fire” that has shaped every significant milestone in her life. She said the university has played a pivotal role in her personal and professional journey.

“The University of Ibadan is not just another university. It is where my foundation for success was built. It is a training ground and, in many ways, the refining fire that set me up for success,” she said.

Olajomi-Otubu noted that she is a proud second-generation alumna. Her father, HRH Prof. Amusat Titilayo Hassan, the Elesugbon of Esugbon, Obaruwa I, and retired Professor of Zoology, is also an alumnus who spent more than four decades at the institution. Two of her sisters also graduated from UI.

She likened the university’s impact to the strength of a building’s foundation. “When I think about UI, I think of foundations that are strong, steady and enduring. As CEO of a construction and design firm, I know that any building that will stand tall must rest on the right foundation. The same applies to life. Our foundations are critical.”

Addressing the chancellor, vice chancellor, faculty members and graduating students, she congratulated the Class of 2025 for their perseverance through academic hurdles and strike disruptions. She said returning to UI felt like coming home, recalling her childhood years in the university staff school, Abadina College, and the Department of Psychology, where she formed lasting relationships.

Olajomi-Otubu reflected on the sacrifices, late-night reading sessions and the friendships built along the way, stating that these experiences serve as the “foundation stones” upon which graduates must build their lives. She urged them to draw strength from the resilience instilled by their time at UI.

Sharing her journey from psychology graduate to human resources professional and later to construction entrepreneur, she recounted losing a job before eventually leading a company that employs nearly 60 professionals. “That is how strong the foundation this university gave me is. I can rebuild, pivot or completely change my path because I carry the lessons I learned within these great walls,” she said.

She explained that building anything meaningful in life requires more than resources, stressing that “faith” is a critical component of progress. “Life after UI will test your resolve. There will be days when your plans collapse like an unreinforced structure. In those moments, remember your foundation and the lessons you learned here.”

Shifting to spiritual insight, she said faith in God has remained her compass, adding that she has learned to choose courage over fear. She encouraged graduates to embrace patience, discipline and values that produce lasting success.

“Choose the hard and the right over the easy and the quick. Real success is not instant. It is slow-cooked like smoky jollof rice. Good things take time,” she said.

She cautioned graduates against the illusions created by social media and advised them to be mindful of the digital footprints they leave behind. “The world is loud, especially online. Loud is not always right. The internet does not forget. Stillness is power.”

Olajomi-Otubu advised the graduating class to focus on building character, relationships and legacy rather than following fleeting trends. “Anyone can hustle, but few can build. Build something that lasts longer than you.”

She emphasised the value of community, diversity of thought, and resilience, noting that life in Nigeria often presents difficult challenges. “In Nigeria, life does not throw lemons. It throws pepper, pepper pro max. Learn to make pepper soup on your way to greatness.”

Referencing outstanding UI alumni such as Nobel Laureate Prof. Wole Soyinka, Chinua Achebe, Prof. Olikoye Ransome-Kuti and Prof. Grace Alele-Williams, she described them as “giants” whose legacies continue to inspire new generations.

“We see farther today because they stood tall yesterday. You, the Class of 2025, now join this extraordinary lineage. You are the next set of shoulders for others to stand on.”

She urged the graduates to step into the world as “builders of the future,” confident in their purpose, faith and integrity. “Believe that your story matters. Believe that you can rise from pepper to purpose. Your purpose will be your compass.”

Concluding her address, she charged the class: “Go forth. May your foundations hold strong, your faith shine bright and your future stand tall.”

A canoe accident in Gamboru-Ngala, Borno State, on Sunday evening left three people feared dead and five others rescued after the vessel capsized while crossing the river between Nigeria’s Gamboru town and Fotokol in Cameroon.

The incident was contained in a post shared on X on Monday by security analyst Zagazola Makama.

According to the post, the canoe, operated by Mamman Nur Abbagana of Kasuwan Katako, Gamboru, overturned around 6:30 p.m., throwing all eight passengers into the water.

“All the travellers were Chadian nationals who were reportedly returning from Jos, Plateau State, and heading to N’Djamena, Chad Republic,” Makama wrote.

Five of the passengers were rescued alive, though their identities had not been confirmed as of the time of the report.

However, a woman identified as 34-year-old Alphosine Makebu Beboroum and her two daughters, 3-year-old Centich Mamajibe and 10-month-old Mamajilem Bebaroum were feared drowned and had not yet been recovered by Monday morning.

Search and rescue efforts were still ongoing.

Makama also reported that the police arrested the canoe paddler for violating the Borno State Government’s safety directive, which requires all canoe operators to provide life jackets for passengers.

A grassroots forum of voters in Kogi State, under the aegis of the Ijumu Voters Forum, IYF, has cautioned former Senator Dino Melaye, urging him to desist from attacking leaders in the state.

This followed the former lawmaker’s recent outburst against some persons holding political offices at the federal level.

According to the group, Melaye did not significantly impact the lives of the people of Kogi West to have the moral ground to criticise others.

The grassroots voters’ forum in Kogi West, in a statement signed by its coordinator, Hon. Eleta Kelvin Oluseyi, on Monday, said the former Senator lacks the moral authority and public record required to criticise other public office holders.

According to the forum, Melaye’s years in public office were marked by noise rather than results, drama rather than development, and controversy instead of service.

“Leadership is measured by impact, and by that standard, his record falls short of what the people of Kogi West deserved,” the statement said.

“Melaye became more widely known for public stunts and political quarrels than for meaningful contributions to his constituency.

“The former Senator earned national nicknames that turned him into a spectacle rather than a statesman.”

The Ogun State Government has warned residents against the indiscriminate dumping of refuse in drainages, streets and other unapproved locations, declaring that violators risk two million naira fine or possible imprisonment.

The warning was issued on Monday by the Special Adviser to the Governor on Waste Management, Hon. Abayomi Hunye, who expressed concern over what he described as a growing culture of environmental abuse, particularly in markets across the state.

According to Hunye, the government has, in recent weeks, observed that “most people in markets dump waste indiscriminately, polluting the environment and creating a climate of filth,” a development he said poses serious risks to public health and safety.

He reminded residents of the provisions of the Ogun State Waste Management Authority Law, 2020, which criminalises improper waste disposal. Quoting Section 34(1) of the law, the government stated that “any person who contravenes any of the provisions of this law commits an offence and on arrest shall pay a penalty of twenty-five thousand naira (₦25,000) to the Authority.”

The law further provides that failure to pay the initial penalty, upon conviction by a court, attracts “a maximum fine of two million naira (₦2,000,000) or three months’ imprisonment or both.”

The government noted that despite the availability of designated waste bins and disposal points in all approved markets, many traders and residents still engage in illegal dumping.

“All the approved markets in the state have designated areas and containers for refuse disposal, but many people habitually dump refuse anywhere they choose, putting public health in jeopardy,” the statement read.

Hunye stressed that the state would no longer tolerate what he described as a “pernicious practice,” adding that enforcement would now be carried out strictly.

“There’s a law against this and henceforth, the State Government will not hesitate to implement the provisions and bring sanity to the state,” he said.

The government urged residents to cooperate with environmental officials and comply with waste disposal regulations in order to promote a cleaner and healthier Ogun State.