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Hidden’ N19.3bn Kogi salary bail-out funds returned to CBN

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The Economic and Financial Crimes Commission (EFCC) on Friday, said it has returned the sum of N19,333,333,333 which was recovered from the Kogi Salary Bailout Account ‘hidden’ in Sterling Bank.

Its Head of Media, Wilson Uwujaren disclosed this in a statement.

Uwujaren said the Central Bank of Nigeria (CBN) has confirmed the receipt of the funds.

He said the development “effectively puts to rest the campaign of misinformation and unconscionable denials by the Kogi State Government that no fund was recovered from its bail out account”.

The apex bank in a letter referenced, DFD/DIR/CON/EXT/01/099 and dated 9th November, 2021 informed the Executive Chairman, EFCC, Abdulrasheed Bawa that it has received the money.

The letter reads in part: “We refer to your letter dated November 5, 2021 with Ref. No: CR:3000/EFCC/LS/CMU/REC-STE/VOL.4/047 on the above subject and wish to confirm the details of the receipt of the amount as stated below: Bank: Sterling Bank Plc; Amount: N19, 333, 333,333.36; Date of receipt: 04 November, 2021.”

EFCC spokesman noted that the return of the money to the apex bank is in compliance with the October 15, 2021 Order of a Federal High Court sitting in Ikoyi Lagos directing the unfreezing of the Kogi State Salary Bail-out account to enable Sterling Bank to remit the balance in the account to the Central Ban of Nigeria.

Justice Chukwujekwu Aneke gave the Order pursuant to an application filed by the EFCC.

The Commission had told the court that the management of Sterling Bank Plc, where the account was domiciled had acknowledged the existence of the said account with the staggering sum of N19, 333,333,333.36 in its books.

The Commission further brought to the attention of the court that “The sum of N19, 333,333,333.36 is still standing in the credit of the account frozen”, adding that “the management of Sterling Bank PIc, has, pursuant to a letter dated 15 September, 2021, signed by its Managing Director, indicated intention to return the total sum of N19, 333,333,333.36 back to the Central Bank of Nigeria.”

The EFCC prayed the court that it “is expedient for the instant suit to be discontinued and the account unfrozen to enable the management of Sterling Bank Plc effect the transfer/ return of the sum of the sum of N19, 333, 333, 333.36 back to the coffer of the Central Bank of Nigeria, where the said bailout funds was disbursed.”

EFCC further declared that the transfer has put paid to any further controversy regarding source and ownership of the funds and most importantly, aborted the funds dissipation.

On August 31, 2021, Justice Tijani Garba Ringim, a vacation Judge, had ordered the freezing of the account, following an ex-parte application filed by the EFCC.

The EFCC, in a 13-paragraph affidavit in support of the ex-parte application, had stated that it received a credible and direct intelligence, which led to the tracing of the funds reasonably suspected to be proceeds of unlawful activities in account No: 0073572696 domiciled in Sterling Bank, Plc with the name Kogi State Salary Bailout Account.

After listening to the EFCC application, Justice Ringim on August 31, 2021, ordered the freezing of the account and directed the publication of the order in a national newspaper by the EFCC.

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FG vows to tackle power crisis, commissions 3MW solar plant at Abuja varsity

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Joseph Tegbe

The Federal Government has vowed to tackle Nigeria’s power challenges, with the Minister of Power, Joseph Tegbe, assuring Nigerians that the administration of President Bola Tinubu will deliver on its promise of improved electricity supply.

Tegbe gave the assurance on Wednesday in Abuja while commissioning a 3MW solar hybrid power project at Yakubu Gowon University, formerly the University of Abuja.

The project, delivered under Phase II of the Federal Government’s Energising Education Programme, is expected to provide more reliable electricity for teaching, research, laboratories, digital services and other critical activities at the university.

The intervention was implemented by the Rural Electrification Agency through the World Bank-funded Nigeria Electrification Project.

The facility comprises a 3.3MW solar array, 3MW AC output capacity and 2MWh battery storage designed to support critical loads beyond daylight hours. The project also includes 388 solar-powered streetlights to improve lighting and security across the campus.

Speaking at the commissioning, Tegbe said the project demonstrated how investment in electricity could directly support human capital development.

“There is perhaps no better place to demonstrate the practical value of Nigeria’s energy transition than a university,” the minister said.

He explained that universities required dependable power not only for classrooms, but also for research, laboratories, technology, administration and digital services.

Tegbe, who described the commissioning as the beginning rather than the end of the investment, said the government was also working to ensure that renewable energy facilities remained functional over the long term.

He said the newly established Renewable Asset Management Company would play a role in ensuring proper management and maintenance of renewable energy assets.

The minister also disclosed that efforts were underway to extend electricity coverage to other parts of the university, including student hostels, following requests from the institution’s Student Union Government and management.

He said the government would work towards ensuring that other areas of the university were covered within six months.

The Managing Director of the REA, Abba Aliyu, said the Energising Education Programme had evolved from simply providing electricity infrastructure to supporting education, research and human capital development.

According to him, the programme has so far delivered renewable energy infrastructure to 22 federal universities and three affiliated teaching hospitals, deploying more than 100MW of clean energy nationwide.

Aliyu said the experience gained from the projects had shown the need to pay as much attention to maintenance and long-term performance as to construction.

“We have become very good at asking, ‘How do we build more?’ We must now become equally rigorous about asking, ‘How do we protect what we have already built? How do we make it perform? And how do we preserve its value?’” he said.

The Head of the Nigeria Electrification Project, Olufemi Akinyelure, said the impact of the project should be measured beyond the electricity generated.

He said reliable electricity would enable laboratories to function, support research and create better conditions for students and lecturers.

“Government may not be in the business of making profit, but it must always be in the business of making progress,” Akinyelure said.

The Vice-Chancellor of Yakubu Gowon University, Prof. Hakeem Fawehinmi, described the project as a major investment in the institution’s academic mission.

Fawehinmi said the university could not effectively teach, conduct meaningful research, operate laboratories or sustain digital services without dependable electricity.

He assured the Federal Government and other partners that the university would properly utilise and maintain the facility.

Also speaking, the Chairman of the Senate Committee on Power, Senator Enyinnaya Abaribe, said the project underscored the need to connect government investment with sustainable outcomes.

Abaribe urged the university to take ownership of the facility and ensure that appropriate arrangements were made for its operation, maintenance and protection.

Beyond electricity generation, the project includes a Renewable Energy Workshop and Training Centre designed to support practical learning and skills development in renewable energy technologies.

The programme also has a female STEM component aimed at giving students practical exposure to renewable energy and opportunities in the sector.

The project was delivered through collaboration among the Federal Government, REA, the Nigeria Electrification Project, the World Bank, Yakubu Gowon University and EMONE Energy Solutions.

With the facility now commissioned, the focus shifts to keeping it operational and ensuring that improved electricity translates into better learning, stronger research and greater opportunities for innovation at the university.

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IGP Disu seeks NIPR partnership to boost public trust in police

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NIPR President, Dr Ike Neliaku, in a handshake with the Inspector-General of Police, Olatunji Disu, at the Force Headquarters in Abuja on Tuesday.

The Inspector-General of Police, IGP Olatunji Disu, has called for stronger collaboration between the Nigeria Police Force (NPF) and the Nigerian Institute of Public Relations (NIPR) to enhance public confidence in the police.

The IGP made the call on Tuesday when he received a delegation of the NIPR, led by its President and Chairman of Council, Dr Ike Neliaku, on a courtesy visit to the Force Headquarters, Abuja.

According to a statement issued by the Force Public Relations Officer, CSP Ani Iniedu, the IGP emphasised the importance of effective communication, professionalism, transparency and fairness in strengthening the relationship between the police and members of the public.

Disu noted that every police officer was an image-maker of the Force, adding that the conduct of personnel in their daily interactions with citizens had a direct impact on public perception of the police.

He said the Nigeria Police Force (NPF) remained committed to policing by consent and promoting a service-oriented policing culture built on professionalism, empathy, accountability and respect for human rights.

The IGP also sought the support of the NIPR in providing specialised communication training for police personnel and developing a coherent communication framework that would effectively communicate the sacrifices and contributions of police officers to public safety and national security.

Earlier, Neliaku commended the IGP for his professional accomplishments and briefed him on Nigeria’s hosting of the 2026 World Public Relations Forum and Africa Charter Forum.

The international event is scheduled to hold at the Transcorp Hilton, Abuja, and is expected to attract more than 3,000 delegates from 126 member countries of the Global Alliance for Public Relations.

The NIPR delegation also sought the support of the Nigeria Police Force in security planning and coverage for the event.

Neliaku further invited the IGP to serve as a keynote speaker at the forum and encouraged police officers to register and participate as delegates.

The delegation included the Secretary-General of the African Public Relations Association, Dr Omoniyi Ibietan; Dr Suleiman Haruna; Mrs Maryam Sanusi; Mrs Olubunmi Badejo; Commandant Olusola Odumosu; Chief Uzoma Oyegbadu; Chief Moji Makanjuola; Mr Stanley Ogadigo and other members of the institute.

Iniedu said the meeting reflected the commitment of the  Police Force to building productive partnerships with professional bodies and other stakeholders to strengthen public trust, enhance public safety and promote national security.

 

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Inflation drops marginally to 15.39% — NBS

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Nigeria’s headline inflation rate fell marginally to 15.39 per cent in August 2026 from 15.43 per cent in July, according to the National Bureau of Statistics.

The NBS disclosed this in its Consumer Price Index released on Tuesday, saying the latest figure represented a 0.04 percentage point decline from the previous month.

The statistics agency, however, reported a sharper decline in the month-on-month inflation rate, which dropped to 0.71 per cent in August from 1.57 per cent in July.

The month-on-month rate, according to the bureau, declined by 0.86 percentage points compared with the July figure.

The NBS explained that the development indicated that the rate at which the average price level increased in August was slower than that recorded in July.

The latest data also showed a significant moderation in food inflation, which stood at 19.57 per cent year-on-year in August.

The figure was substantially lower than the 25.30 per cent recorded in August 2025.

On a month-on-month basis, food inflation fell to 1.02 per cent in August from 5.56 per cent in July, representing a decline of 4.55 percentage points.

The NBS said the development showed that food prices were still rising, but at a slower rate during the month under review.

It attributed the decline largely to changes in the average prices of a number of food items, including palm oil, carrots, pepper, onions, cassava flour, beef, yam flour, water yam, melon (egusi), fresh ginger, fresh fish, Irish potatoes, wheat grain, frozen chicken and turkey meat.

At the state level, Adamawa recorded the highest year-on-year food inflation rate in August at 38.85 per cent.

It was followed by Zamfara with 37.96 per cent and Bayelsa with 36.20 per cent.

On the other hand, Borno recorded the lowest year-on-year food inflation rate at -4.04 per cent, followed by Jigawa at -0.23 per cent and Kebbi at 3.47 per cent.

The month-on-month figures presented a different picture, with Katsina recording the highest food inflation rate at 9.48 per cent.

Rivers and Osun followed with 8.86 per cent and 8.32 per cent respectively.

Taraba recorded the lowest month-on-month food inflation rate at -12.42 per cent, followed by Borno at -12.15 per cent and Bauchi at -8.88 per cent.

The latest figures indicate a moderation in the pace of price increases, particularly in the food sector, although the NBS data show that consumers continue to face varying price pressures across the states.

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