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EFCC Arraigns Former NSITF Chairperson Olejeme Over Alleged N1bn Fraud

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The Economic and Financial Crimes Commission (EFCC) has arraigned Ngozi Olejeme, former chairperson of the board of the Nigeria Social Insurance Trust Fund (NSITF), before a federal high court in Abuja over alleged money laundering involving N1 billion.

Olejeme was arraigned on Wednesday on an eight-count charge bordering on converting, transferring, procuring, and taking possession of proceeds of unlawful activity.

According to the EFCC, Olejeme allegedly diverted several funds belonging to the agency between 2012 and 2015 while serving as board chairperson.

One of the charges reads: “That you, Mrs. Ngozi Olejeme, while being the board chairman of the Nigeria Social Insurance Trust Fund (NSITF), sometime in February 2012, in Abuja, within the jurisdiction of this honourable court, indirectly converted the sum of N321,600,000 (three hundred and twenty-one million, six hundred thousand naira) paid into the Sterling Bank account of Adin Miles International Ltd on February 9, 2012, knowing that the funds constituted proceeds of unlawful activity, and thereby committed an offence contrary to Section 15(2)(b) and punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011 (as amended by Act No. 1 of 2012).”

Another count accuses her of procuring one Chuka C. Eze to convert the sum of $2 million into naira for payment to Adin Miles International Ltd, knowing that the money represented proceeds of unlawful activity.

Olejeme pleaded not guilty to all the charges. Following her plea, EFCC counsel Emenike Mgbemele requested a trial date, stating that the prosecution intends to call 14 witnesses.

However, defence counsel Emeka Ogboguo urged the court to grant bail to his client, noting that a bail application was already pending before the court.

Presiding judge, Emeka Nwite, ordered that Olejeme be released to her counsel and adjourned the case to November 17 for the hearing of the bail application.

The EFCC had in September 2017 declared Olejeme wanted over allegations of “criminal conspiracy, abuse of office, diversion of public funds and money laundering” amounting to N69 billion.

In July 2020, a federal high court in Abuja ordered the interim forfeiture of 48 properties allegedly linked to the former NSITF boss.

By October 2021, Olejeme was arraigned before another federal capital territory (FCT) high court on a separate nine-count charge filed by the EFCC.

The latest arraignment marks a continuation of the anti-graft agency’s long-running probe into alleged mismanagement of NSITF funds during Olejeme’s tenure as chairperson.

BIG STORY

Who Is Afraid of Zacch Adedeji? —– Seun Oloketuyi

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The recent call by a group identifying itself as the Arewa Consultative Youth Movement for the suspension and investigation of the Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, raises more questions than it answers.

In a period when Nigeria faces profound economic challenges, it is curious that a body supposedly concerned with national progress has chosen to target the one institution that has consistently delivered measurable results. More troubling is the absence of any specific allegation. The group did not name an offence, cite evidence, or establish wrongdoing.

Instead, it issued a vague, ambiguous statement built around innuendo. Such an approach makes clear that this is not an act of patriotism but a sponsored campaign aimed at distracting a key figure in Nigeria’s economic recovery efforts.

At the centre of the storm is a technocrat whose performance is both documented and publicly verifiable. The question, therefore, is simple: Who is afraid of Zacch Adedeji? Record Revenue Performance Under Dr. Adedeji’s leadership, FIRS has delivered the highest revenue figures in Nigeria’s history.

In 2023, the Service collected ₦12.36 trillion, surpassing its target and setting a new national milestone. This performance was exceeded in 2024, with collections reaching over ₦21.6 trillion, far above the revenue benchmark for the year. Cumulatively, between 2023 and 2025, FIRS mobilised ₦47.39 trillion, representing more than 115% of its combined revenue targets. These numbers, widely published across reputable financial platforms demonstrate not just improved collection but renewed fiscal discipline within the Service.

Digital Transformation and Modernised Tax Administration.

One of Adedeji’s most significant achievements is the modernisation of Nigeria’s tax administration system. The upgrade of TaxProMax automated the majority of tax processes, reducing human interference and simplifying compliance for individuals and businesses alike. Additionally, the introduction of the 829# USSD tax service made Nigeria the first African country to allow taxpayers to access essential tax services through basic mobile phones.

The rollout of the National Single Window Project also integrated tax, customs, and port functions, improving trade efficiency and creating new pathways for improved revenue generation.

Expansion of the Tax Base

FIRS under Adedeji aggressively expanded the tax net by focusing on SMEs and informal-sector businesses traditionally outside the formal tax system.

Through digital tools, taxpayer education, and simplified registration processes, thousands of new taxpayers were onboarded, broadening Nigeria’s revenue base and reducing dependence on oil. Institutional Reforms and Improved Staff Welfare During his tenure, FIRS was restructured into functional clusters designed to improve service delivery and reduce bureaucratic bottlenecks. This modern, customer-centric model has significantly enhanced operational efficiency.

In 2024, he approved a substantial salary increase of over 60% for staff, an unprecedented welfare boost that improved staff morale and encouraged better service delivery. Commitment to Transparency and Taxpayer Protection The establishment of a strengthened Anti-Corruption and Transparency Unit (ACTU), in partnership with the ICPC, underscores the Service’s renewed focus on integrity.

Adedeji’s tax philosophy, “We tax prosperity, not poverty” has also guided policies that protect low-income earners while ensuring equitable taxation across economic groups. The Real Motive Behind the Attacks with this level of performance, it is not surprising that vested interests, those who benefited from loopholes, inefficiency, and opacity, now view the reforms at FIRS as a threat. Calls for suspension without evidence suggest that the attacks are less about patriotism and more about stopping a man whose work disrupts the old order.

An attack on Adedeji is, by extension, an attack on the fiscal reforms underpinning President Bola Ahmed Tinubu’s economic agenda. It is therefore imperative for security agencies to investigate the sponsors of these faceless campaigns. Conclusion Nigeria’s revenue system is experiencing its strongest period in over a decade, driven by reforms that are transparent, digitally driven, and effective.

At such a time, attempts to distract the Executive Chairman of FIRS should concern every patriotic Nigerian. The facts are clear, the achievements are verifiable, and the progress is undeniable. So the pressing question remains: Who is afraid of Zacch Adedeji and why?

 

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BIG STORY

We Will Get It Right With Security —- Obasa

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Speaker of the Lagos State House of Assembly, Rt. Hon Mudashiru Obasa has affirmed that with the support of all Nigerians, President Bola Ahmed Tinubu would get it right with his concerted reengineering of the nation’s security architecture.

Speaking at the APC Stakeholders and Progressives Governors Forum meeting held Saturday, December 6, at the Eko Hotel and Suites, Victoria Island, Lagos, Obasa said he did not doubt that President Tinubu and the All Progressives Congress, APC-led federal government, would do all that they can to ensure that they secure the life and property of every Nigerian.

According to Obasa, “We have seen the president in action and how he is innovating and working hard to resolve our many challenges, especially insecurity, and we believe he will get it done. He’s still the man who can do it. That is why we must do everything within our powers to ensure that he is returned in 2027.”

Speaker Obasa teed off with robust commendations for the governors for their shared dedication and commitment to helping President Tinubu resolve Nigeria’s insecurity problem.

He urged them to galvanise their people when they return to their various states to be a part of the solution to Nigeria’s security challenge, and not stay aloof.

Speaker Obasa added that security is not just about the governors, “It is about everybody. We must all be involved in fighting this problem. We must give the President all the support that we can so that he will succeed in his attempts to redirect the trajectory of Nigeria.”

The PGF had converged on Lagos between December 5 and 6 for a meeting convened by the Chairman of the Forum, Senator Hope Uzodimma, Governor of Imo State, and hosted by Governor Babajide Sanwo-Olu of Lagos State.

In a communique read by Governor Uzodinma, the governors passed a vote of confidence on President Tinubu’s administration, and pledged support for his Renewed Hope Agenda and re-election in 2027.

The Forum, according to Governor Uzodinma, reviewed the security situation across the country and expressed appreciation for the improved coordination between federal, state, and local security structures, as well as the courage and sacrifices of security agencies and community volunteers. They also resolved to strengthen local security architecture in all the states.

Governor Uzodinma said that their two-day engagement provided an opportunity to review the nation’s current trajectory, deepen coordination among the governors, and reaffirm their firm support for the Renewed Hope Agenda of President Tinubu. “The PGF commended President Bola Ahmed Tinubu for his steadfast commitment to stabilizing the economy, strengthening national security, and laying the foundations of sustainable growth through the Renewed Hope Agenda,” he said.

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BIG STORY

Nigerian Army Suspends Officer Retirements Amid National Security Emergency

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The Nigerian Army has suspended all statutory and voluntary retirements for certain categories of officers following the nationwide security emergency declared by President Bola Tinubu.

An internal memo dated December 3, signed by Maj. Gen. E. I. Okoro on behalf of the Chief of Army Staff, and sighted by our correspondent, stated that the suspension of retirements is aimed at retaining manpower, experience, and operational capacity as the Armed Forces expand in response to rising insecurity.

The document, referencing the Harmonized Terms and Conditions of Service Officers (HTACOS) 2024, noted that although officers are ordinarily expected to retire upon reaching their age limit, completing 35 years of service, or after repeated promotion or conversion failures, service extension is permissible under Paragraph 3.10(e) in the interest of the military.

The memo partly read: “Military service of a commissioned officer entails a period of unbroken service in the AFN from the date of enlistment or commissioning to the date of retirement. The period of service is determined by conditions enshrined in the HTACOS Officers 2024. These include attainment of age ceilings on various ranks, a maximum length of service of 35 years, and other criteria provided in Paragraphs 11.02(d) and 17.15, among extant regulations.

“Notwithstanding these provisions, Chapter 3.10(e) of HTACOS Officers 2024 allows for the extension of service to officers in the interest of the service.

“The President and Commander-in-Chief declared a nationwide security emergency on November 26, mandating the expansion of the AFN and other security agencies. In line with this, and to rapidly expand manpower, it has become expedient to temporarily suspend all statutory and voluntary retirements from the Nigerian Army with immediate effect.”

According to the circular, the temporary suspension applies to officers who fall into the following categories: officers who failed promotion examinations three times; officers passed over three times at promotion boards; officers who have reached the age ceiling for their ranks; officers who failed conversion boards three times; and officers who have attained 35 years of service.

“Officers in these categories who are not interested in an extension of service are to continue with the normal retirement procedure. Officers desirous of extension should note that upon extension, they are not eligible for career progression, including promotion, career courses, NA sponsorship, self-sponsored courses, secondment, or extra-regimental appointments,” the memo stated.

It directed all commanders to disseminate the directive and manage morale, adding that the policy would be reviewed as the security situation improves.

President Bola Tinubu, on November 26, 2025, declared a nationwide security emergency and directed the military, police, and intelligence agencies to expand recruitment and deploy thousands of additional personnel.

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