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EFCC Nabs Alleged Ponzi Scheme Operator Promising Investors 50% RoI

Economic and Financial Crimes Commission (EFCC) has arrested Umanah E. Umanah, alleged Ponzi scheme operator based in Uyo, Akwa Ibom State.

Umanah E. Umanah, alleged Ponzi scheme operator
Umanah , 62-year-old, was said to have promised a bogus offer of 50 per cent return on investment in just seven days for any investor who invests in his company known as No Burn Global Limited.
Some unsuspecting members of the public, who believed him and put their hard-earned money in his company, were surprised when he avoided communication with them and failed to fulfil what he promised them.
In a statement issued by the EFCC, it was stated that the Uyo Zonal Office of the anti-graft agency received over 70 petitions against the suspect from his victims and on July 1, 2020, following a petition by one of his victims, Mr Umanah was apprehended.
The petitioner claimed that the Ponzi scheme operator collected over N2.9 million from him and subsequently issued him a N500,000 cheque, which was dishonoured by the bank because the account was not funded.
The EFCC said its investigations reveal that the defendant runs an advance fee fraud syndicate in several states of the federation and the Federal Capital Territory.
On Friday, October 16, 2020, he was arraigned before Justice Agatha Okeke of the Federal High Court, Uyo on count charges bordering on forgery, issuance of dud cheque and obtaining by false pretence.
“That you Umanah Ekaette Umanah on or about July 31, 2017, at Uyo, within the jurisdiction of this court, did make a forged document to wit: United Bank of Africa (UBA) cheque with cheque number: 73131308 of No Burn Global Stakeholders Multipurpose by appending your signature on the said cheque leaflet when not being a signatory to the account of No Burn Global Stakeholders Multipurpose, domiciled with UBA, knowing same to be false and with the intent that it may be acted upon as genuine and thereby committed an offence contrary to Section 1 (2) (c) of the Miscellaneous Offences Act Cap M17 of the Revised Edition ( Laws of the Federation of Nigeria) 2007 and punishable under Section 1 (2) of the same Act,” one of the charges read.
He pleaded not guilty to the charges upon which Adebayo Soares, prosecution counsel, asked the court for a commencement date of trial and for him to be remanded in the custody of the Nigeria Correctional Service, (NCS).
News
MTN Pens Moving Tribute to Pascal Gabriel Dozie, Former Chairman

In a heartfelt tribute, MTN has hailed late Dr. Pascal Gabriel Dozie, an exceptional leader, steady hand and enduring legacy.

Pascal Gabriel Dozie, Former Chairman
In the tribute, MTN said it was deeply saddened by the passing of Dr. Dozie, founding chairman of MTN Nigeria.
He passed away at the age of 85
“We extend our heartfelt condolences to his family, friends, and all who had the privilege of knowing and working with him” the telecom giant said.
A pioneer, statesman, and titan of industry, Dr. Dozie played a pivotal role in the emergence of mobile telephony in Nigeria and in shaping the MTN Nigeria story.
He brought insight, experience, and leadership at a time when bold vision was essential.
He was instrumental in securing the early support and investment that brought the Y’ello dream to life. On May 16, 2001, he made the first call on the MTN network, a historic moment in Nigeria’s telecommunications journey.
For 18 years, from 2001 to 2019, Dr. Dozie served as Chairman, leading with strength and conviction.
His presence on the Board was unifying. He championed good governance, corporate responsibility, and long-term value, deeply committed to the greater good. In challenging times, he remained a stabilising force.
“His unwavering belief in Nigeria’s potential and his dedication to its development were truly inspiring. His leadership at MTN Nigeria laid the foundation for our success, and his legacy will continue to guide us in the years to come,” Karl Toriola, CEO, MTN Nigeria.
Some of his landmark contributions include:
The incorporation of the MTN Nigeria Foundation in 2004 and our commitment to dedicating a percentage of profit after tax to social investments;
The launch of one of Africa’s largest switching centres in 2010;
His significant role in 2015 during critical conversations around the regulatory fine and its resolution;
The introduction of Africa’s first 3G feature phone in 2018;
MTN Nigeria’s listing in 2019 on the premium board of the Nigerian Exchange.
“Dr. Dozie was instrumental in MTN Group’s expansion into Nigeria, providing visionary leadership that has left an indelible mark on our company’s history. His commitment to excellence and integrity set a standard that we continue to uphold,” Ralph Mupita, president & CEO, MTN Group.
His legacy goes well beyond MTN. He believed in Nigeria’s potential and dedicated his life to building a stronger nation.
His impact spanned banking, telecommunications, education, and public service.
He founded Diamond Bank, led the Nigerian Economic Summit Group, and served as Director of the Central Bank of Nigeria, among many other distinguished roles. A generous mentor, he inspired and guided countless individuals who continue to uphold the values he lived by.
He was a quiet revolutionary. He could ease tensions with grace and consistently led with clarity and conviction.
He was warm, principled, and deeply respected by all who encountered him.
Fondly known as PGD, he was honoured with the national awards of Officer and Commander of the Order of the Niger (OON and CON).
Beyond the accolades, what we remember most is the man himself. He was innovative, dedicated, measured, thoughtful and humble.
“We are profoundly grateful for his time with us. His memory will remain a guiding light for MTN, Nigeria’s business community, and everyone who shares his unwavering commitment to progress built on integrity and service” MTN stated
News
NIGCOMSAT, Jigawa State Empower 150 Youths on Satellite New Innovations

Nigerian Communication Satellite Limited (NIGCOMSAT) in collaboration with Jigawa state government, commenced training of 150 youths on satellite technology and digital communication.

Jane Egerton-Idehen, managing director, NIGCOMSAT limited,
Speaking at the opening ceremony of the training, held at Manpower development Dutse, Jane Egerton-Idehen, managing director, NIGCOMSAT limited, highlighted the role of NIGCOMSAT in driving grassroots innovation in Jigawa state.
She explained that, the training is organised by Nigcomsat supported by Jigawa state government with the theme: “Space Technology for grassroots development”, aimed at empowering youths on digital innovations to create jobs opportunities and boost economy.
“The Nigcomsat youth empowerment programme, Jigawa is a groundbreaking initiative aimed at equipping young minds with cutting-edge knowledge in satellite technology and digital communication”, she said.
The MD maintained that, the program designed to Foster innovation, enhance technical skills and create opportunities for youths in the ever-evolving space-tech industry.
According to her, during the training two key sub-program will be featured, Spacehack 2025 aimed at developing satellite technology to tackle real world challenges in areas like agriculture, disaster management, telecommunications and security issues.
She maintained that, the other part of the training focused on Very Small Aperture Terminal (VSAT) technology, a satellite communication system that uses small antennas to transmit and receive data, voice, and vedio signals.
In his remarks, Dr Habib Muhammad Ubale, director general, Jigawa State Economic Empowerment and Youth employment agency, urged the participants to concentrate, acquire the skills and stepdown the skills to others for better development.
Dr. Habib who is the effort is one of the twelve points agenda of Governor Malam Umar Namadi said, the training will create thousands of jobs, improve economy and reduce security challenges in the state.
News
Nigeria Set to Host Landmark GITEX Event in West Africa

In a major stride towards positioning Nigeria as a global technology hub where digital technology is leveraged to uplift the nation, the Federal Government of Nigeria, through the National Information Technology Development Agency (NITDA), has announced its strategic partnership with KAOUN International to host the world-renowned Gulf Information Technology Exhibition (GITEX) in Nigeria.
This announcement was made at NITDA’s corporate headquarters in Abuja during the inauguration of the Local Organising Committee (LOC) which comprises representatives from key public and private sector stakeholders, underscoring a unified national effort to deliver a world-class tech conference on Nigerian soil.
This maiden edition of the event which is themed “Forging the Rise of Digital Nigeria” is expected to have not less than 1000 startups, over 100 investors and an attendance of over 20,000 participants which would be held in Abuja and Lagos between 1st and 4th of September 2025.
GITEX Nigeria is set to bring together global tech leaders, innovators, investors, startups, and policy makers, opening up new avenues for collaboration, investment, and technological exchange.
The event in Abuja will witness government leadership and AI summit to unite government leaders and global tech executives to drive national projects, including digital infrastructure expansion, AI adoption and public sector innovation while in Lagos, which is the commercial hub of the country, GITEX aims to spotlight the nation’s tech ecosystem, promoting startups, attracting investment, growth driving multi-sector economic diversification to a global audience.
Speaking at the event, the Director General of NITDA, Kashifu Inuwa who was represented by the Director of the ITIS department, Mr Olawumi Oladejo, expressed his gratitude and enthusiasm for the milestone achievement and thanked everyone for all the effort they have been putting into the actualisation of the great event in Nigeria.
He emphasized the potential impact of hosting such a prestigious event, stating that it would not only elevate Nigeria’s international profile but also boost local businesses, drive tourism, and provide a platform for innovation and partnerships.
“We all know the positive impact that hosting this kind of event will bring to the country. It will boost our international standing and scale our local businesses and tourism. This event is part of our way of implementing a major pillar, Forging Strategic Partnerships and Collaborations of the agency’s Strategic Roadmap and Action Plan (SRAP 2024–2027),” he added.
According to the DG, the implementation of the GITEX Nigeria is in line with the 8-point agenda of President Bola Ahmed Tinubu GCFR through the implementation of the agency’s SRAP.
Noting that the GITEX model has expanded to North Africa, specifically in Morocco, Inuwa asserted that Nigeria’s hosting of the event will mark its first footprint in West Africa.
While assuring the stakeholders of presidential backing for the initiative, the DG concluded that “if we can successfully host this, it will open the door for Nigeria to lead digital transformation efforts across the region.”
In his presentation on the overview of the GITEX Nigeria preparations, the Director of the Stakeholder Management and Partnerships department, Dr Aristotle Onumo stated that the vision of the event is to elevate 6 local startups to global standards in 3 years.
He added that the event which will be anchored on 3 fulcrums; enablement, engagement, and knowledge to enhance growth in the Telecom, Fintech, Agritech, Edtech, e-Commerce, Healthtech as well as data centres in reinforcing data sovereignty and other sectors.
Speaking on the opportunities the event will bring in terms of boosting investments into the Nigerian Tech Ecosystem, he noted that “78% of startups are expecting to receive funds from investors as a result of their participation in GITEX.”
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