₦airaland Forum

Leading financial institution in Nigeria, Fidelity Bank Plc, has assured its customers of unwavering commitment to upholding the highest level of ethical standards in all dealings with customer data.

The assurance comes amid allegations by the Nigerian Data Protection Agency (NDPA) against the bank relating to data breach.

While reiterating its commitment to strong corporate governance, Fidelity Bank, in a statement signed by its Divisional Head, Brand & Communications, Dr Meksley Nwagboh, maintained that it has conducted its services with highest ethical standards by ensuring full compliance with extant laws on data protection.

Giving a breakdown of its dealings with the NDPC since it received a letter of the alleged data breach, the bank stated that “on April 30th, 2023, we received a notice of investigation from the Nigerian Data Protection Agency (NDPA), now the Nigerian Data Protection Commission (NDPC). The investigation was in respect of a complaint from [name has been withheld to protect the identity of the complainant] who claimed that [name withheld] details were used to open an account in the bank without [name withheld] consent.

“Based on this notice, we conducted an internal investigation into the circumstances around the claim and discovered as follows:

“An account opening request was received online in the name of [name withheld], and an email was sent to the email address attached to the request informing them about this.

“In compliance with our Data Protection policy, accounts created online without full documentation are not allowed to be operational and are closed after 30 days if the outstanding documents are not provided to authenticate the identity of the person seeking to open the account.

“In compliance with our data protection laws, the account was not allowed to be operational as the passport photograph and BVN were not provided.

“The account was immediately placed on “Post No Debit” status as the applicant was expected to complete the account opening process by providing the outstanding documents for verification within 30 days. This was not done, and the account was eventually closed.

“On May 2nd, 2023, we responded to the NDPC that the bank did not violate any law because there was no data breach and that the account opening process was not completed. On our part, we carried out due diligence by immediately blocking the account and subsequently closing the account when we did not receive the outstanding documents.

“At no point in the process was the account ever operational.

“On July 7th, 2023, we were invited for a Pre-Action meeting with NDPC. During the meeting, we restated our position as earlier communicated to them in our letter dated May 2nd.

“However, despite our explanation and evidence provided to support our claim, the agency informed us that they had reached a conclusion to impose a penalty on the bank.

“On 5th December of 2023, we got a letter from NDPC demanding we pay a ‘remedial fee’ of N250 million within 21 days.

“We immediately commenced another round of engagements with the Commission as we were convinced. We had not breached any extant law or regulation.

“While discussions were still ongoing with the NDPC, we received another letter on the 20th of August demanding that we now pay N555.8m naira.

“As a responsible financial organization with a history of strong corporate governance standards, we remain committed to the due process of the law, and we wish to assure all our customers of our unwavering commitment to upholding the highest level of ethical standards in all our dealings with customer data.

“Our commitment to strong corporate governance has earned us local and international recognition, including the prestigious CG+ award. This is the highest rank under the Corporate Governance Rating System (CGRS) of the Nigerian Exchange Group (NGX), which evaluates listed companies against established best practices and standards.

“As a bank, we remain in discussions with the NDPC over an amicable resolution to this matter.”

By Julius Akpovire


Mele Kyari, the group chief executive officer of the Nigerian National Petroleum Company Limited, NNPCL, has again demonstrated the words of American Singer and actor, Frank Sinatra that “the best revenge is massive success.”

Despite the multiple campaigns of calumny, lies, plots and character assassination sponsored by the nation’s oil saboteurs against the NNPCL, Kyari has continued to show professionalism and excellence with visible and outstanding results in the Nigerian oil and gas sector.

We are familiar with individuals who take over bourgeoning establishments and further increase their worth on face value along the line, but it sounds like a fairy tale to have a professional who takes over a near-comatose, demoralized, and corrupt-laden organization and makes a corporate giant out of it. This best describes the transparent reformer and hardworking NNPCL GCEO’s strides at the national oil company.

While detractors and forces of evil in the nation are busy plotting against the NNPCL chief because of their personal interests, Kyari has remained resilient, professional and focused in his bid to change the bad narratives of the oil and gas sector. He has painstakingly introduced several innovations into the oil company, which had since positioned the NNPCL on an upward trajectory.

With his TAPE Agenda (Transparency, Accountability and Performance Excellence), Kyari has turned around the oil company, making it competitive at the global market and thereby increasing the nation’s prosperity.

Kyari’s efforts have also rekindled investor confidence in the sector. He has been able to reduce pipeline vandalization and crude oil thefts in the Niger Delta areas. As against the trend, today, Nigeria’s crude oil production has increased to approximately 1.78 million barrels per day (inclusive of condensate).

Kyari’s programmes and policies have enhanced transparency and efficiency in the operations of the company which has led to its continued growth in profitability since he assumed office in 2019 – a drastic turn from consistent losses the NNPC had suffered before 2019.

Despite challenging economic conditions, NNPCL, on Monday, announced a remarkable milestone by reporting a record-breaking net profit of N3.3 trillion for the 2023 financial year, marking a substantial 27.6% increase from the N2.58 trillion in the corresponding period of 2022.

The declaration is the highest profits ever made in NNPC’s history, and since it transitioned to a profit-making entity in 2020 after the enactment of the PIA into law.

It’s worthy of note that in 2022, the company posted its second consecutive year of ‘profit’ announcing N674.1 billion in the 2021 financial period and growing it from N287 billion in 2020. The figure represented an increase of N387 billion or 134.8% when compared to the previous N287 billion recorded in 2020.

NNPC’s sustained profitability reflects a corporation that is not merely surviving but thriving, demonstrating robust outcomes that underscore NNPCL’s operational efficiency and strategic foresight.

Speaking on the company’s 2023 results, Umar Ajiya Isa, executive vice president and chief financial officer of NNPCL, noted that the NNPCL achieved a remarkable ₦23.99 trillion in revenue, showcasing its robust market position and operational efficiency. With a gross profit of ₦7.04 trillion and an operating profit of ₦4.34 trillion, NNPCL achieved a net profit of ₦3.3 trillion at the end of 2023.These impressive results signify a solid net profit margin of 14% and an operating profit margin of 18%, demonstrating the company’s adeptness at converting revenue into substantial profits. In addition, the results showcased a 12% return on equity (ROE) as of FY2023 and maintained a current ratio of 1:1, reflecting a balanced approach to asset and liability management. Notably, the company’s debt-to-assets ratio stood at a mere 1.8%, highlighting prudent financial management and a robust balance sheet.

Furthermore, the national oil company doubled its non-current assets, building on a remarkable 141% growth from the previous year. NNPCL noted that the asset expansion was primarily driven by strategic investments and the transfer of joint venture (JV) assets in alignment with the Petroleum Industry Act (PIA). The company’s total assets now stand at ₦246.82 trillion, reinforcing its status as a formidable player in the global energy sector.

NNPCL also declared a final dividend of ₦2.101 trillion, following an interim dividend of ₦536.64 billion. This brought the dividend payout ratio to an impressive 80%, reflecting the company’s strong profitability and confidence in its continued success. With earnings per share (EPS) of ₦16.49 and a dividend per share (DPS) of ₦11.11, shareholders have reaped significant returns from their investment in NNPC Limited.

On NNPCL’s future outlook, Ajiya stated that NNPCL has set its sight on achieving oil production of 2,000,000barrels/day and is currently working with the relevant security stakeholders to curb oil theft and pipeline vandalism in line with President Bola Tinubu’s directives.

Ajia who also hinted that the NNPC Ltd will announce Initial Public Offer once the shareholders and board make a decision, debunked claims on subsidy payment, saying that no oil marketer has been paid fuel subsidy in the last eight to nine months by the company.

In conclusion, Kyari, the silent achiever, has done well for Nigeria. Rather than victimizing him out of hate, he should be applauded for his sacrificial efforts in revolutionizing the oil and gas sector. It’s obvious Kyari and his energetic team at the NNPCL mean well for the nation.

Nigerians should, therefore, be wary of the antics of some elements who are bitter because their evil businesses in the oil and gas sector have been truncated and also those on political vendetta.

Oil saboteurs must not be allowed to have a grip on the sector any longer if Nigeria must rise again as crude oil and gas constitute 70 per cent of Nigeria’s budget revenues and 95 per cent of our foreign exchange earnings.

We all must join hands to make Nigeria great again!


Akpovire, a journalist, writes from Lagos, Nigeria.

A coalition of Arewa groups led by the Northern Stakeholders Consultative Forum (NSCF) along with 72 other civil society organizations (CSOs) have accused Hon. Ikenga Ugochinyere, the member representing Ideato North/South Federal Constituency in the House of Representatives of fresh plots to blackmail the speaker of the House, Hon. Tajudeen Abass, as well as the deputy speaker, Hon. Kalu Benjamin over house committee position.

The northern groups further urged the house to probe Hon. Ugochinyere’s alleged sinister moves to discredit the green chamber.

Recall that the speaker had dissolved the ad-hoc Joint Downstream and Midstream Committee co-chaired by Hon. Ugochinyere set up to investigate the importation of adulterated petroleum products, the non-availability of crude oil for domestic refineries, and other energy security issues. A statement by the house further disclosed that a new committee will be inaugurated to probe the developments in the oil sector.

Reports say that the committee was disbanded following allegations of unruly behaviour by Hon. Ugochinyere, who is also the chairman, House Committee on Petroleum Resources (Downstream). It was alleged that Mr Ikenga hijacked the committee, including singlehandedly signing documents that ought to have been jointly signed by both chairmen.

Speaking at a press conference in Kaduna on Tuesday, the convener of NSCF, Alhaji Yerima Shettima, alleged that in his bid to force his way back into the new committee, Hon. Ugochinyere had hired private investigators to gather damaging information against the speaker and his deputy to blackmail them.

According to Yerima; “In recent weeks, Nigeria has been enveloped in significant turmoil, particularly within the energy sector. This tumultuous climate, exacerbated by the ongoing tensions between the Dangote Refinery and regulatory bodies, compels us to reflect on the implications of the actions — or inactions — of our lawmakers In light of our commitment to promoting transparency, we have undertaken an investigative approach regarding the recent crisis surrounding the joint committee tasked with overseeing the oil industry.

“Our ongoing investigations have unearthed deeply troubling patterns of behavior. As recently as July 4, 2024, unusual activities were reported around the House of Representatives premises. Subsequent inquiries unveiled that private investigators had been engaged by Mr. Ugochinyere, purportedly to gather information for the purpose of blackmail against the speaker of the House, Hon. Tajudeen Abass, as well as the deputy speaker, Hon. Kalu Benjamin. These actions appear to be aimed at assembling compromising evidence to intimidate them into allowing his continued leadership of the Committee on Petroleum (Downstream).

“In our quest for truth, we earnestly call upon the leadership of the House of Representatives to procure and review the CCTV footage from the house complex on the mentioned date. We are confident that these recordings will validate the claims, revealing various meetings held between Hon. Ugochinyere and the private investigators within his office premises.

“Alarmingly, it seems Mr. Ugochinyere sought to obscure his conversations by augmenting the volume of a television, mistakenly believing it would mask their dialogues from surveillance devices. However, we assert that these security measures successfully captured their exchanges, laying bare the malicious intent behind their actions.

“Moreover, we have uncovered indications that Mr. Ugochinyere harbors aspirations to cultivate deleterious information about Deputy Speaker Kalu, whom he views as a potential rival. This rivalry appears to stem from the perception that Deputy Speaker Kalu operates as a facilitator for funds from the Dangote Refinery. Such dynamics illustrate a troubling environment, where personal ambitions overshadow civic duty.

“The unsettling reality we confront today reflects an assembly that has deviated from the ideals of service and integrity —an institution where the corrupted ethos has permeated the legislative framework. The allegations against Hon. Ugochinyere Ikenga underscores a disconcerting narrative of exploitation and corruption, which is detrimental to the trust bestowed upon our legislative representatives.

“In the interest of restoring public confidence and institutional integrity, we implore the speaker of the house to initiate a comprehensive investigation into these serious allegations, particularly concerning the activities of the disbanded committee. The broader implications of such behaviour — if left unchecked — pose a significant risk to our democratic foundations and must be addressed with utmost severity.”

By Ezra Akinmade

The incessant vituperations and campaign of calumny by a faction of the defunct Conference of Nigeria Political Party (CNPP) and its promoters against the Nigeria National Petroleum Company (NNPC) Limited and its group chief executive officer, Mele Kyari, is another show of shame by forces of darkness who are bent on destroying Nigeria’s prosperity.

The CNPP has continued to cast aspersions and make spurious allegations against Kyari since he took over as group managing director of the defunct NNPC in 2019, despite the visible achievements of the NNPC boss.

The devious group further increased its attack against the national oil company and its officials in 2023 when President Bola Tinubu assumed office and announced end to fuel subsidy payment.

The big question is, who are the CNPP and its promoters working for? The group should be reminded that, like many others, their evil agenda against the nation will fail. The blackmail and distortion of facts by the group that is founded on lies will surely fail as Nigerians are now wiser.

To state the obvious, CNPP and their sponsors are uncomfortable and envious of the unparalleled achievements recorded by the Kyari-led NNPC Limited as the results speak for themselves.

While civil and political organisations have the right to constructive criticisms of government policies, it becomes questionable when it is tainted with hate, vendetta, and ulterior motives.

The 'bring down syndrome' by Nigerians against performers will continue to eat deep into the nation's development if not 'killed'.

It is worthy of note that Kyari inherited a demoralised NNPC where corruption was the order of the day. He, however, turned around the misfortune of the defunct NNPC and took it to an enviable height with its TAPE (Transparency, Accountability, Performance and Excellence) agenda. Today, his initiatives save Nigerians millions of dollars monthly. Through the TAPE, Kyari has dutifully steered the NNPCL as an excellent, transparent, efficient, and responsible corporate entity. On the assumption of office, Kyari declared war against pipelines vandalization and crude oil theft. This soon yielded positive results as Kyari was the first GMD of the NNPC to declare profit to the federal government.

Under intense pressure and scrutiny, the NNPCL has become a world-class institution capable of competing with the best and brightest in the global energy industry.

There is no doubt that Kyari is a leader of vision and courage, and a man whose matchless exploits have transformed the Nigerian oil and gas industry for the better. His legacy will endure for generations to come, inspiring others to follow in his footsteps and build on his remarkable achievements.

Kyari’s vision to establish a strong and virile energy sector and deliver uninterrupted power to all Nigerians is sacrosanct. He has attracted so many local and foreign investors into our oil and gas sector. Additionally, the recent award conferred on him by President Bola Tinubu is a testament to his hard work and dedication in the sector. The Presidential CNG Initiative (PI-CNG) is another example of Kyari’s commitment to driving the implementation of CNG across Nigeria.

The NNPC Ltd in conjunction with the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), on Monday, donated 10 CNG-powered buses to the Federal Government. The buses, manufactured locally by Innoson Motors, are expected to reduce transportation costs, boost productivity, and save Nigeria trillions of naira currently spent on PMS (premium motor spirit).

CNPP should, therefore, seek to align with this vision and stop being a tool in the hands of economic saboteurs and forces of evil. No matter the lies and hate, it will bring down a man who has sacrificed and put in so much to the even transformation of Nigeria's oil and energy sector.

Kyari and the NNPCL team should know that Nigerians are solidly behind them and therefore must remain focused and steadfast in their commitment to excellence.

-Akinmade, an analyst writes from Lagos, Nigeria

Contrary to the reports making the rounds by some online news blogs that Omolola Oloworaran, the newly appointed acting director-general of the National Pension Commission (PenCom), was sacked by First Bank of Nigeria, her former employee, findings revealed that it is fake news.

Some news blogs had reported that Mrs. Oloworaran was fired.

This news medium, however, gathered from inside sources that the newly appointed PenCom boss was not relieved of her job at First Bank, as reported, but ‘only resigned from the bank on July 1st, 2024 to assume her new appointment’.

‘It’s fake news. Omolola was not sacked by First Bank. As expected, she voluntarily resigned to take up her new assignment,” the source said.

Oloworaran was appointed PenCom DG by President Bola Tinubu on July 13.

With over 20 years in the financial industry, Oloworaran’s extensive experience and accomplishments in the financial sector position her well for this pivotal role.

Oloworaran’s appointment as the Director-General of PenCom comes at a crucial time for Nigeria’s pension sector. Her comprehensive background and proven track record in financial management are expected to bring substantial advancements to PenCom.

She is anticipated to drive robust management and growth of Nigeria’s pension funds, ensuring the commission’s objectives align with the nation’s broader financial goals.

Her leadership is expected to usher in a new era of efficiency and innovation at PenCom, building on the foundations laid by her predecessor.

As Oloworaran steps into her new role, the financial community and pensioners alike look forward to the positive impact of her expertise and leadership on the commission’s operations and Nigeria’s pension landscape at large.

Her career is a testament to her capabilities and leadership qualities, making her a fitting choice for the high-profile appointment.

Oloworaran’s journey in the financial sector is marked by significant roles at leading financial institutions, reflecting her expertise and leadership acumen.

Prior to her PenCom appointment, she was a key figure at FirstBank Nigeria, serving as the Head of Transaction Banking Operations since June 2019. Before joining FirstBank, Oloworaran made notable contributions at Stanbic IBTC. From January 2016 to June 2019, she led the International Business Center, where she managed international banking operations and cultivated global business relationships. Her role as Head of Global Market Operations from November 2013 to January 2016 further demonstrated her capability in managing complex financial systems and operations.

Oloworaran’s professional journey is distinguished by her versatility and experience across various financial domains. At FDHL GROUP, she served as a Consultant from May 2013 to November 2013, offering strategic insights and solutions.

Her earlier career includes a significant tenure at Renaissance Capital, where she served in various capacities, including Finance Manager and Senior Specialist, from March 2008 to April 2013.

Her foundational years in the financial sector were shaped by her role at Citigroup, where she was involved in Treasury Operations from June 2004 to March 2008. This experience laid a solid groundwork for her subsequent roles, equipping her with a robust understanding of financial operations and management.

The Energy Transparency Initiative (ETI) has expressed dismay over the recent statements made by the Deputy Spokesman of the Federal House of Representatives, Philip Agbese, concerning the Nigerian National Petroleum Corporation Limited (NNPCL) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

The group in a statement by its convener, Ganzallo Gbenga, and programme officer, Chinelo Ochiaga, said the allegations by Agbese that the NNPCL and NMDPRA are involved in a deliberate attempt to undermine the Dangote refinery, is an affront to the House of Representatives.

They noted that such remarks are not only misleading but also demonstrate a concerning departure from his responsibilities as a federal lawmaker.

“While we are not willing to be mouthpiece of both regulatory authorities, being accused by Mr Agbese, we cannot but remind Nigerians that as an organization with over a decade of involvement in series of advocacy on transparency and accountability in the sector, we have full knowledge of issues that are responsible for the recent dispute between Dangote Refinery and the regulatory authorities.

“It is troubling that Agbese has chosen to abandon his duty as a representative of the people and instead assumed the role of an advocate for the Dangote Refinery.

“His position should obligate him to act impartially, especially in matters involving multiple stakeholders. By aligning himself so closely with a single business interest, he undermines the very essence of his role as an unbiased arbitrator within any relevant committee.

“In the House of Reps, his voice has never been heard, no bills sponsored, no motions moved and has also not carried out empowerment to his Constituency.

“Agbese’s actions reveal a troubling pattern of prioritizing the interests of a single entity over the broader collective welfare of Nigerians. The Dangote refinery, while a significant player in the industry, represents individual business interests that do not necessarily align with the national interest.

“The apparent bias demonstrated by Agbese risks neglecting the broader implications of the refinery’s operations on the general populace and undermines the regulatory framework designed to ensure fair play and transparency.

“It is imperative to remind the lawmaker that his call for the dismissal of the Group Chief Executive Officer of NNPCL and the Authority Chief Executive of NMDPRA is not only misplaced but lacks merit.

“We had expected all parties involved in this NNPCL and Dangote feud to maintain their silence but were shocked to realise that Agbese who’s a member of the committee set up by the House to investigate surrounding allegations chose to take a side and has made statement that are uncalled for.”

The Energy Transparency Initiative said Agbese needs to be schooled on how both the NNPCL and NMDPRA works and not dabble into affairs that are beyond his literacy level.

The group noted that the era where Agbese blackmails public institutions will not fly with government agencies as they won’t succumb to such.

“The agencies targeted for blackmail and pecuniary gains by Agbese and his team have outlived governments and individuals and will continue to do so continue, no matter the corporate or legislative blackmail.

“The oil and gas sector business is too sophisticated a knowledge for Agbese to understand and meddle into. We urge him to immediately resign his position as the Deputy Spokesperson of the House of Representatives.

“He can also chose to apply for employment in NNPCL if he choses to defend them, especially now that the recruitment exercise is ongoing.

“We call on the leadership of the House of Representatives to address this matter with the seriousness it deserves. It is crucial that members of the House focus on their legislative duties and refrain from interfering in regulatory issues they do not fully understand.

“This will ensure that the integrity of the legislative process is maintained and that public trust is upheld,” it said.

The Energy Transparency Initiative urged the House leadership to rein in Agbese and his associates.

“Their current approach not only jeopardizes the effective functioning of regulatory bodies but also risks undermining the efforts to achieve transparency and accountability in the oil and gas sector.

“We further implore all stakeholders to remain vigilant and uphold the principles of fairness and transparency.

“The progress of Nigeria’s oil and gas sector depends on the collective efforts of all parties involved, and it is imperative that individual agendas do not derail this important endeavor.

“The Energy Transparency Initiative shall remain committed to advocating for due process, transparency, and security in the oil and gas sector.

“We will continue to monitor developments and ensure that all actions and policies are aligned with the national interest, free from undue influence or partisan agendas.”

Emefiele: EFCC moves against BUA, Dangote, others over forex deals with CBN


The Economic and Financial Crimes Commission (EFCC) is currently investigating Dangote Group, BUA Group, Flour Mills and 49 other companies over forex deals conducted during the tenure of Godwin Emefiele, the disgraced former Governor of the Central Bank of Nigeria, CBN.

According to reports, details of the EFCC probes are still sketchy but it appears to be a blanket investigation into the biggest companies that got forex allocations from the CBN under Emefiele in the last 10 years.

This newspaper learnt that the EFCC had written to the 52 companies directing them to supply documents supporting the allocation and utilization of foreign currencies to them in the last 10 years.

The EFCC letter to the companies is part of ongoing investigation into alleged preferential Forex allocations to individuals and organisation.

Investigators have in the past months accused the CBN of favouring and enriching some individuals and companies through non-transparent allocation of foreign exchange to them.

More to come


https://thewitnessng.com/emefiele-efcc-moves-against-bua-dangote-others-over-forex-deals-with-cbn/

Corruption: Group Petitions NPA Boss, Bello Koko to EFCC For Fraud, Urges His Immediate Arrest, Prosecution


A Civil Society Group named Citizens Initiative for Better Nigeria (CIBN) has dragged Mohammed Bello Koko, the Managing Director of Nigerian Ports Authority, NPA before the Economic and Financial Crimes Commission (EFCC) over allegations of fraud, money laundering and abuse of office. In a dated 16th June, 2023 and signed by the Chief Convener of the group, Comrade Kabir Adamu Matazu, it was revealed that the NPA boss looted public funds to buy choice properties in the United Kingdom.

It would be recalled that Bello Koko earlier served as the Executive Director Finance and Administration of the NPA in 2015 before his elevation to the position of Acting Managing Director in 2021 after the sack of Hadiza Bala-Usman as the Managing Director of the NPA under very controversial circumstances.

Part of the petition reads:

"A discreet investigation by our CIBN reveals that Bello Koko abused his offices as Executive Director, Finance and Administration as well as Acting Managing Director of Nigerian Ports Authority (NPA) to massively amass wealth which he deployed to acquire choice properties in the United Kingdom. Specifically, Bello Koko used two BVI-incorporated shell companies namely; Coulwood Limited (Registration Number: 1487897) and Marney Limited (Registration Number: 1487944) to purchase a total of 6 properties. The said properties are listed below;

i. 62, Corner Mead, Hendon, (NW9 5RD) purchased on 25th November, 2008.

ii. Flat 2, Liberty Court, 141, Great North Way, London NW4 1PR purchased on 20th October, 2009.

iii. 37, Redlands Road, Enfield (EN3 5HN) purchased on 16th August, 2011.

iv. 62, Manton Road, Enfield, London EN3 6XZ purchased on 23rd July, 2012.

v. 14, Faraday House, Aurora Gardens, London (SW11 8ED) purchased on 3rd May, 2017.

vi. 2A Beech Hill, Barnet, Greater London, EN4 0JP on November 06, 2015, at £1,750,000.

"We submit that the property described in paragraph (vi) above, a 7-bedroom freehold detached house was ranked as the 11th most expensive property in EN4 0JP, with a valuation of £2,274,000 as at April, 2022. Granted the EFCC is believed to have investigated Bello Koko alongside other top politicians in Nigeria following revelations that he operated foreign accounts which he did not declare to the Code of Conduct Bureau when he served as Director of Finance and Administration before becoming Acting Managing Director of NPA, the outcome of EFCC investigation appears to have been swept under the carpet".


"Sometime in 2022, it was reported that Hadiza Bala Usman; then Managing Director of Nigerian Ports Authority was suspended from office in May 2021 following allegation of non-remittance of about N165 Billion Naira operating surpluses into the Consolidated Revenue Fund Account of the Federation by the NPA. The suspension order approved by President Muhammadu Buhari followed a request for the probe of the accounts of the NPA made by the former Minister of Transportation, Rt. Hon. Rotimi Amaechi, when he was in office. The Minister subsequently set up an Administrative Panel of Inquiry to investigate the affairs of the NPA, including awards of contracts from 2016 to May 2021".

The petition further states that:

"Our investigations further reveal that the N165 Billion operating surpluses could not have been diverted from the Consolidated Revenue Fund of the Federation by NPA under the leadership of Hadiza Usman Bala without the knowledge and participation of Bello Koko who was her Director of Finance and Administration at that time. We therefore wonder why Hadiza Usman Bala was hurriedly suspended and later removed from office as MD while Bello Koko received promotion to the position of Acting Managing Director before he was later made substantive MD in August 2022.

"Also, the Pandora Papers of 2021 reveals that Bello Koko and his wife, Agatha Anne Koko enlisted the services of financial secrecy seller, Cook Worldwide and Aleman, Cordero, Galindo and Lee (Alcogal), an offshore Law firm, to register Coulwood Limited (reg. number 1487897) and Marney Limited (Reg. number 1487944) in the British Virgin Island (BVI) one of the worlds most commonly used tax havens in 2018. Bello Koko was at the time of incorporation of the two companies stated above holding Public Office but permitted himself to be used as Director of the two companies in gross violation of Sections 5 and 6 of the Code of Conduct Bureau and Tribunal Act as well as the 7th Schedule of the 1999 Constitution of the Federal Republic of Nigeria (as amended).


"Bello Koko, again in contravention of the Nigeria Single Treasury Account (TSA) Policy operates multiple bank accounts for and on behalf of the NPA. These accounts are used to receive Millions of Dollars annually looted under his leadership. We are aware that the EFCC carried out financial profiling of Bello Koko in August 2021 and found out that the NPA MD worked with an associate, Ali Amin Abubakar and had benefited from awards of contracts totaling N1,107,654,133 from the Rivers State Government and others.

"It is our contention that the corrupt and fraudulent activities of Bello Koko have contributed to the severe economic hardship now suffered by Millions of Nigerians as monies meant to be deployed or utilized in critical areas of our national life were looted and stashed away by Bello Koko and his cronies.

"The more reason why Bello Koko should be brought to book unfailingly by the EFCC is that he spearheaded the funding of the Presidential Campaign of his godfather and former Minister of Transportation, Rt. Hon. Rotimi Amaechi. After lavishing Millions of Naira on Amaechi’s failed bid, Bello Koko again went ahead to use taxpayers’ money to fund the campaign of Alhaji Atiku Abubakar who was the Presidential Candidate of the Peoples Democratic Party (PDP), on the instructions of Amaechi.

The group urged EFCC to act speedily otherwise the cases hanging on the neck of Bello Koko at the Special Fraud Office (SFO), National Crime Agency (NCA) as well as Crown Prosecution Service (CPS) all in the United Kingdom will be reopened. This is to ensure that his properties acquired with proceeds of crime are confiscated and forfeited to the Federal Government of Nigeria.

Meanwhile, the group gave the Acting Chairman, Economic and Financial Crimes Commission an ultimatum of five days to arrest Bello Koko and commence his prosecution. They concluded by praying the EFCC not to leave no stone unturned in making life uncomfortable for a crooked and notorious person like Bello Koko Mohammed who is well known to have penchant for criminality, even after he is removed from office by President Bola Ahmed Tinubu, GCFR.

In the event that the demand put forward by the group is treated with levity, they threatened to embark on mass protests at strategic locations within Abuja. The protest will be aimed at brief the local and international communities on the effort CIBN has made to contribute to the Renewed Hope Agenda of Mr. President and how EFCC deliberately frustrated them by treating Bello Koko as a sacred cow.