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Agu meets another money doubler.

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THE above personification might leave many guessing that I intend waxing poetic about the famous prose which we were so conversant with during our salad days. While the Agu described in the popular Mastering English series might have been a fictitious character, his dream of an instantaneous accumulation of wealth is completely symptomatic of how desperate the average Nigerian could be.

When  the famous Mavrodi Mondial Scheme popularly enthused as MMM burst its seams last month, I was sincerely yours, among the pessimists who saw its anticipated renaissance as nothing but a tall dream.

I wrote in a piece way back then that if opinions had been sought from a cross-section of participants probably moments before it ceded to the alleged heavy workload, many would have still described the money doubling scheme as God’s special manna in these hard times. The economy is in dire straits to say the least and the common man on the street could care less about hard lessons learnt from similar ponzi schemes in the past.

A former colleague of mine related how his hopes were salvaged through the ponzi scheme. According to his saccharine-filled narrative, his investments in MMM helped in offsetting his burgeoning debt profile. In a similar vein, a neighbour of mine revelled me with his new lease of life, courtesy of the fortunes accrued from MMM.

The more tantalising carrot was extended to members of the scheme at the beginning of December. The tagged ‘Christmas bonus’ ditched the thirty percent bonus by moving a notch higher to fifty percent. Did members feel the slightest foreboding at that juncture? I sincerely can’t tell. Enthusiasts kept defending that the scheme had remained resilient in the heat of so much bad-mouthing by the House of Assembly, the Central Bank of Nigeria and the Nigerian Deposit Insurance Corporation.

When the death knell was eventually tolled, it was stated that the number of those who wanted to get help were more than those who wanted to provide help. If this is anything to go by, one is then bound to wonder where the returns were actually sourced from in the first place? Was the scheme truly sustained by some cryptocurrencies or the same naira which members deposited into one another’s account? Guess your hunch is just as good as mine.

Nigerians of course, were privy to the fate that befell naïve South-Africans and Zimbabweans who swallowed the MMM bait, hook, line and sinker. It was a gamble many thought they could enjoy and go scot free. A few many who were supposed to know better sentimentally gave in to the point that it came as a relief in harsh times. As such, they equally rebuked Nigerian Legislators for witch-hunting those who kept the scheme afloat.

MMM members were still hesitant in admitting that the deed has been done. Accounts have only been temporarily frozen, they say. MMM promises to bounce back stronger and better come January 14. The site still allows people to provide help, etc. Now that operators of the scheme seem to be ready to live up to their billing, I am left with no other option than to have a hunk of my humble pie. Need I still express deep condolences to aggrieved members who licked their wounds silently sequel to the impromptu hiatus last month? MMM promises to come back stronger than it was before. An avid participant intimated me earlier today that he was received a verification code to activate his mavro account before the d-day. Good news you say uh!

Drifting away from this deja-vu, it is equally apposite to ask if the typical Nigerian would still be willing to stake a lump sum following the unexpected black-out witnessed last month. Has the last four weeks or thereabout suddenly turned the table in such a way now that the number of people wanting to provide help dwarfs the overwhelming horde in need of help? Will this money-churning scheme blaze through the odds which similar schemes of the past had fallen victim to? It is better I rest my case before the teeming audience sees me as an overnight Prophet of doom.

On a lighter note nonetheless, the anticipated defreezing of accounts is reminiscent of the moonlight tale involving Agu; the wretched washerman and the Money Doubler who claimed to have been  sent by the Marine Goddess. Agu’s joy knew no bounds when the few pennies in his pocket were doubled.

Spurred by this windfall, Agu added his nest egg to the lump sum which a friend lent him and gave it to the Money Doubler. Following the rituals, the money was kept in a can and Agu was instructed to guard it jealously for the next two days before opening the lid. Agu did as instructed and when he eventually opened it,  he was left dumbstruck, to behold white papers neatly cut into the size of currency notes. Agu ran back to the river bank where he had first met the Money Doubler but as they say, the rest is history.

 

By Kadiri Tolani

 

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National Issues

OLOJO FESTIVAL: Nigeria bigger than all of us, Ooni tells politicians

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Monarch begins seven-day seclusion, prays for peace, unity

The Ooni of Ife, Oba Adeyeye Ogunwusi, Ojaja II, has urged Nigerian politicians to put the interest of the country above their political differences, saying Nigeria is bigger than any individual or political interest.

The monarch spoke on Sunday shortly before commencing a seven-day spiritual seclusion ahead of the 2026 Olojo Festival in Ile-Ife, Osun State.

The annual seclusion is part of the traditional rites preceding the Olojo Festival, one of the major cultural celebrations associated with Ile-Ife and the Yoruba people.

The Ooni, who is also the Co-Chairman of the National Council of Traditional Rulers of Nigeria, said his period in seclusion would be devoted to prayers for Nigeria, particularly for peace, unity and sustainable development.

“I am appealing to our politicians. They might have differences, but we should know ultimately that Nigeria is bigger than all of us,” the monarch said.

“It is very important for our political leaders to always look inwardly on how to better the lot of the average Nigerians.”

The Ooni urged political leaders to avoid words and actions capable of threatening national cohesion, reminding them that political power was temporary.

“Some have ruled this country before as political leaders, and others will come after them,” he said.

He said his prayers would also cover Nigeria’s democratic process, particularly as the country prepares for the next general elections.

The monarch commended President Bola Tinubu over what he described as non-interference in the activities of the Independent National Electoral Commission, saying such a practice could strengthen public confidence in the electoral process.

He also commended Osun residents for participating in the recently concluded governorship election, saying the outcome demonstrated the ability of citizens to determine their leaders through the ballot.

According to him, Nigerians should continue to have the opportunity to freely choose their leaders without actions capable of undermining the democratic process.

The Ooni’s seven-day seclusion, which began on Sunday evening, will also provide him with an opportunity to prepare spiritually for the sacred rites of the Olojo Festival and deepen his connection with the ancestors.

The exercise precedes the annual wearing of the sacred Aare Crown, one of the major highlights of the festival.

A statement by the Senior Media Officer of the Ooni’s Palace, Sodiq Lawal, issued on behalf of the Director of Media and Public Affairs, Otunba Moses Olafare, said the seclusion marked the beginning of the spiritual phase of the 2026 Olojo Festival.

The festival celebrates Ile-Ife’s indigenous traditions and ancestral heritage and attracts traditional rulers, cultural enthusiasts, visitors and members of the Yoruba diaspora.

The public ceremonies are expected to follow the spiritual rites and culminate in the Ooni’s emergence in the sacred crown.

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Tinubu vows intelligence-led rescue of abducted Oyo pupils, teachers

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President Bola Tinubu on Monday assured residents of Oyo State that ongoing efforts to rescue abducted pupils and teachers in Oriire Local Government Area would be intelligence-driven, coordinated and sustained.

The President said the Federal Government would deploy every lawful means, including kinetic and non-kinetic measures, to ensure the safe return of the victims abducted during the May 15, 2026 attack in Esiele and Yawota communities.

“Our rescue efforts will be intelligence-led, careful, coordinated, and sustained. We will deploy every lawful tool available, both kinetic and non-kinetic, to ensure our children and teachers are safely returned home,” Tinubu stated in a statement posted on his X handle on Monday.

The President also expressed sorrow over the killing of a school teacher during the abduction and extended condolences to his wife, Mrs Mary Oyedokun, and the bereaved family.

“I also extend my deepest condolences to Mrs Mary Oyedokun, the wife of the late school teacher and her family. Their sacrifice will not be forgotten, and his family will not be abandoned,” he said.

Tinubu stressed that children should never be exposed to the trauma of abduction, noting that no parent should endure the pain associated with such incidents.

“No child should be taken from the safety of a classroom. No parent should have to endure this anguish,” the President added.

He assured affected communities that efforts to secure the release of the abducted pupils and teachers would remain sustained and intelligence-driven.

The statement comes amid growing concerns over insecurity in schools and rural communities following the abduction, which prompted the Federal Government to dispatch a high-powered delegation to the affected communities in Oriire Local Government Area.

The delegation included the Chief of Staff to the President, Femi Gbajabiamila; the National Security Adviser, Nuhu Ribadu; the Minister of Defence; and the Inspector-General of Police, Kayode Egbetokun, alongside other senior government and security officials.

Tinubu further disclosed that he had approved additional security measures, including the deployment of a specialised security unit equipped with advanced rescue capabilities to intensify efforts towards the safe return of the victims.

“I have also directed the deployment of a specialised security unit with advanced rescue capabilities to intensify efforts to secure the safe return of the abducted pupils and teachers,” he stated.

The President also revealed that the Federal Government, in collaboration with the Oyo State Government, was mobilising 1,000 forest guards to improve surveillance in forest corridors frequently exploited by criminal elements.

According to him, the initiative would be complemented by broader operational measures aimed at strengthening rescue operations and preventing future attacks.

Tinubu added that a request for the establishment of a military base in the affected area was receiving urgent consideration as part of efforts to bolster security.

Authorities have continued rescue operations amid rising concerns over the safety of schools and rural settlements, insisting that efforts remain focused on securing the release of the abducted victims and preventing a recurrence.

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48 alleged terror financiers named by FG {SEE FULL LIST}

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The Federal Government, on Saturday, published a list of 48 individuals and entities allegedly linked to terrorism financing in Nigeria, naming suspects with reported ties to outlawed groups including the Indigenous People of Biafra, Ansaru, and the Islamic State West Africa Province.

The list was released by the Nigeria Sanctions Committee as part of intensified efforts to disrupt financial networks sustaining terrorist activities across the country.

In a statement accompanying the publication, the committee said the designation of the individuals and organisations was in line with Nigeria’s legal and international obligations to combat terrorism financing.

“The Nigeria Sanctions Committee has approved the designation of the following individuals and entities for their alleged involvement in terrorism financing,” the statement read.

It added, “The action is pursuant to relevant laws and regulations aimed at identifying and freezing assets of persons and organisations linked to terrorist activities.”

The committee explained that the move was targeted at dismantling the financial backbone of insurgent and extremist groups operating within and beyond Nigeria’s borders.

Among those listed are individuals reportedly associated with the Indigenous People of Biafra, a proscribed separatist group; Ansaru, a faction linked to Al-Qaeda; and the Islamic State West Africa Province, one of the most active terrorist groups in the region.

Security experts have repeatedly stressed that cutting off funding sources remains a critical strategy in weakening terrorist operations.

Speaking on the development, a senior government official familiar with the process said the publication sends a strong signal about Nigeria’s resolve to confront terrorism at its roots.

“This is not just about naming names; it is about choking the financial lifelines of terror networks. Once funding is disrupted, their operational capacity is significantly weakened,” the source said.

The committee further noted that relevant authorities and financial institutions have been directed to take necessary steps in enforcing sanctions, including the identification and freezing of assets linked to the designated persons and entities.

“The public is also advised to remain vigilant and report suspicious financial activities to appropriate authorities,” the statement added.

The Federal Government reiterated its commitment to safeguarding national security, insisting that individuals or groups found culpable would face the full weight of the law.

As of the time of filing this report, detailed breakdowns of the sanctions and timelines for enforcement were yet to be made public.

 

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