General News
GMB Says He’ll be Ruthless against Corruption, B/Haram
Muhammadu Buhari, Nigeria’s president-elect, did not smile while making his acceptance speech on Wednesday — understandably, as terrorism and corruption were his main talking points.
A day after piling up substantial vote totals against the incumbent president, Mr. Buhari, a former general who once rose to power in a military coup, further consolidated something extraordinary for Nigeria: the peaceful passing of power from one political party to another through the ballot box, according to New York Times.
The country is now a democratic nation like others, Mr. Buhari suggested Wednesday, both in his words and in the fact that the democratic process had worked well enough that he could give the speech at all.
But in his remarks in the Nigerian capital, Abuja, Mr. Buhari also bluntly enumerated two scourges in this giant democracy: the ruthless onslaught of the Boko Haram militant group and the “evil of corruption,” as he put it.
In pairing them so prominently, he appeared to be setting his agenda for the coming months. And in lieu of a detailed policy platform from Mr. Buhari, who was short on specifics during his campaign, his vow to defeat Boko Haram amounts to a national security strategy, while fighting corruption has become an economic one.
President-elect Muhammadu Buhari, a former military leader, vowed to fight the scourges of corruption and Boko Haram militants.
On Wednesday, he focused more on the challenges posed by corruption than on the dangers of Boko Haram, perhaps indicating a veteran soldier’s disdain for the group as a true military threat.
Though Boko Haram has killed thousands of civilians and stormed across big stretches of territory, Mr. Buhari was bluntly dismissive of the insurgents in a January interview on the campaign trail, characterizing their fighting abilities in disparaging terms.
“Boko Haram will soon know the strength of our collective will,” he said Wednesday. “We shall spare no effort until we defeat terrorism.”
As a practical matter, Boko Haram, despite having pledged allegiance to the Islamic State terrorist group, is now less of a menace on the ground in Nigeria than it was in January.
A coalition of foreign and domestic troops has substantially reduced Boko Haram’s footprint in the northeastern territory it had been holding for much of the past few years. Troops from Chad have taken the handful of border towns once held by the militants, and the Nigerians, backed by South African mercenaries, have taken others.
It is impossible to verify the Nigerian military’s claim that nearly all the previously Islamist-occupied towns in the northeast — “local government areas,” as they are called in Nigeria — have now been reclaimed from Boko Haram. But many have been, and the latest, Gwoza, had been a Boko Haram stronghold for months.
More challenging for Mr. Buhari will be the rot in the army that led to Boko Haram’s ascendance in the first place: corruption at high levels, poor morale, and troops underequipped because much of the $6 billion military budget has apparently been diverted.
“What they have is such an institutional problem, it’s going to take a long time to fix it,” said a diplomat in Abuja, who was not authorized to speak publicly. The hiring of mercenaries to defeat Boko Haram is a “short- to mid-term solution until they can address the other thing,” the diplomat said.
In interviews, Mr. Buhari has spoken of his anger at seeing foreign troops play a leading role in solving Nigeria’s Boko Haram problem. But he may not have much choice for now.
Most difficult for him will be how to handle the command deficiencies that put frightened, lightly armed soldiers in the field against Boko Haram, leading to many losses and retreats in Nigeria’s nearly six-year battle with the militants.
Human rights abuses against civilians by the Nigerian military have also been disturbingly common, with soldiers killing and detaining residents en masse.
“What has been consistently lacking is the required leadership in our battle against insurgency,” Mr. Buhari said in a speech at the London think tank Chatham House in late February.
Here, he will tread gingerly, Mr. Buhari has suggested, seeking to determine responsibilities before proceeding to, say, firing the top chiefs whom many blame for Nigeria’s military failures.
Boko Haram led Mr. Buhari on Wednesday to segue immediately into Nigeria’s corruption problem, which “attacks our national character” and “distorts the economy,” he said.
He made it clear that, falling oil prices aside, he sees this as the country’s top economic problem, telling the audience at Abuja’s International Conference Center that “such an illegal yet powerful force soon comes to undermine democracy.” He promised to “end this threat to our economic development and democratic survival.”
At Chatham House, Mr. Buhari suggested that what he called a “war waged on corruption” would be the first step in tackling the country’s pressing economic problems.
The price of oil, on which the government depends for over 70 percent of its revenue, has tumbled. Nigeria’s currency has fallen some 20 percent against the dollar over six months. Foreign currency reserves are dwindling, and an oil-revenue rainy day fund has been ransacked.
“In the face of dwindling revenues, a good place to start the repositioning of Nigeria’s economy is to swiftly tackle two ills that have ballooned under the present administration: waste and corruption,” Mr. Buhari said at Chatham House.
Several Nigerian economists suggested that Mr. Buhari’s strategy was plausible as a first step.
“The first thing to do is to recognize that there is so much waste in government,” said a leading Lagos economist, Pat Utomi.
“If you cut the graft, you can do things,” he said. “We have a new presidential jet in this budget. Most airlines in Nigeria don’t have as many jets as the presidential fleet.”
Another economist also suggested that Mr. Buhari’s anticorruption stance was critical in a country with, as a recent World Bank paper put it, a “deeply embedded culture of corruption.”
With the new president’s emphasis on “accountability, integrity and transparency,” one economist, Bismarck Rewane, said the “missing piece in the Nigerian economy” would be filled in.
Of course, other Nigerian politicians have promised to end corruption, only to fail or even steal with abandon afterward. But there is some reason to think Mr. Buhari may hew more closely to his promises. As military ruler in 1984 and 1985, he did not enrich himself. And he ruthlessly pursued those whom he accused of corruption.
“Corruption will not be tolerated by this administration, and it shall no longer be allowed to stand as if it is a respected monument in this nation,” he said Wednesday.
Union Bank of Nigeria has reiterated its commitment to entrepreneurship and women’s empowerment through its alpher initiative by sponsoring the Nigerian British Chamber of Commerce (NBCC) Women and Youth Entrepreneurship Development Centre (WYEDC) Cohort 2 Programme, which has graduated 125 entrepreneurs who have benefited from firsthand entrepreneurship training and business grants.
Small and medium-sized enterprises (SMEs) in Nigeria account for more than 50% of industrial employment and contribute approximately 48% to the country’s GDP.
This makes entrepreneurship one of the economy’s building blocks and is a testament to Union Bank’s unwavering dedication to national development in partnership with NBCC.
In her welcome speech, the Director General of NBCC, Dr. Ebere Njoku, reiterated NBCC’s commitment to supporting entrepreneurship, women’s empowerment, and youth empowerment, citing these as catalysts for economic development and sustainability.
She appreciated the sponsors, partners and facilitators who devoted their resources and time to upskilling the participants.
The entrepreneurship initiative stemmed from the visionary goal of Mr. Ray Atelly, President and Chairman of the Council, NBCC, FRPA, to provide entrepreneurship and grant opportunities to Nigerian women and youths.
Mr. Atelly told the graduates in his speech, “This is your chance, make sure you take it. Don’t let any obstacle stop you because there will be many; if you let it stop you, your dreams are not strong enough. You need to keep pushing, someday you will sit at the top of a conglomerate and people will aspire to be like you.”
Also in attendance was the NBCC’s Patron, Senator Akin Odunsi, FRPA, who congratulated the Cohort 2 graduates.
He said, “I encourage all of you not to take the training you have received for granted. Use it as a landmark opportunity to be a beacon of hope to others who look up to you.”
He also urged the Chamber to provide internship opportunities after the six-month entrepreneurship training in organisations for the incoming Cohort 3 and beyond.
He added that the internship experience will give trainees the unique chance to practice what they learned and, in return, benefit the organisations from their acquired skills.
The goodwill message at the graduation ceremony was delivered on behalf of Mrs. Yetunde Oni, Managing Director and Chief Executive Officer of Union Bank of Nigeria, by Mrs. Vivian Imoh-Ita, the Bank’s Head of Retail and SME Business, who appreciated NBCC for the life-transforming training they are providing to the youth and women entrepreneurs.
She further stated, “As a Bank, we understand that when we invest in women and youth entrepreneurs, we are investing in the most powerful catalysts of economic transformation. Through the Bank’s alpher initiative, we have enabled success for women-led businesses. In a volatile economy like Nigeria, the challenges facing entrepreneurs are dynamic and significant. As a Bank, we intend to prove that these barriers are not unconquerable and are growth opportunities.”
Three entrepreneurs, namely Evelyn Ekene Ani of Evani.Ng (First place), Martha Padonu of Beyond Photography (Second place), and Therietta Vershima of La Teriz (Third place) were declared winners of the Union Bank Business Pitch competition held during the graduation ceremony and were rewarded with funding for their businesses.
The Bank’s sponsorship of the training demonstrates its commitment to fostering a vibrant, innovative, and inclusive entrepreneurial ecosystem for women and all individuals.
The trial of three employees of Wema Bank Plc and four others accused of orchestrating N8.9 billion cyber heist has been stalled due to the Eid-el-Kabir public holiday.
Economic and Financial Crimes Commission (EFCC) had arraigned the bank staff—Samuel Asiegbu, Fabian Onyeimachi, and Kingsley Kejim—alongside four alleged accomplices: Hannah Okunlola Adesokan, Hamza Zakariya, Achionu Ubaku, and Sunday Osademe, before Justice Chukwujekwu Aneke of the Federal High Court in Lagos on May 25, 2025.
The seven defendants face an eight-count charge bordering on conspiracy, cybercrime, and obtaining money under false pretences. They were accused of hacking into Wema Bank’s computer systems in January 2025 and unlawfully transferring N8,568,090,500 to various accounts.
According S.O. Larry Peters, counsel, EFCC, the defendants acted in concert with two other suspects—Nurudeen Ibrahim and Alhaji Sulaiman—who are currently at large. The syndicate allegedly manipulated the bank’s data using sophisticated digital tools to cause financial loss and confer illegal economic gains on themselves.
Peters further revealed that two of the defendants—Hannah Okunlola and Sunday Osademe—provided personal bank accounts for the illicit proceeds. Investigators traced N199 million to Okunlola’s UBA account registered under Search Light Media Concept, and N2.25 million to Osademe’s Union Bank account.
The offences, according to the charge sheet, violate Sections 6(2), 8, 14(1), 14(5), and 27(1)(a) of the Cybercrimes (Prohibition, Prevention, etc.) Act, 2015, as well as Sections 17(a)(b) of the EFCC Establishment Act, 2004.
All seven defendants pleaded not guilty. Following their plea, the court remanded five of the accused in the custody of the Nigerian Correctional Services, while Kingsley Kejim continued on existing bail terms.
The court granted a special request by defence counsel to remand Hannah Okunlola in EFCC custody due to medical concerns.
Justice Aneke had adjourned the matter to June 6, 2025, for commencement of trial. However, due to the nationwide Sallah holiday declared by the federal government, the proceedings could not go ahead as scheduled.
A charge reads: “That you, Samuel Ihechukwu Asiegbu, Ejim Kingsley Kelechi, and others now at large, in January 2025, conspired to alter Wema Bank data to cause the loss of N8.568 billion in order to benefit economically, thereby committing an offence under Section 27(1)(a) of the Cybercrimes Act, 2015.”
The case has drawn significant attention as one of the most audacious cybercrime cases involving bank insiders in Nigeria’s recent history.
The 2025 Ojude Oba celebrations kicked off on Friday evening with “Evening with Glo,” a special event organized by Globacom and headlined by Juju music legend Evangelist Ebenezer Obey Fabiyi and Fuji maestro Wasiu Ayinde Marshall (KWAM 1)
This year marks a significant milestone: Globacom’s 20th anniversary as sponsors of the Ojude Oba festival, an event it has helped transform into a globally recognized cultural spectacle.
The “Evening with Glo” was a vibrant mix of live music, delicious food, and captivating comedy from Gbenga Adeyinka, Bash, and Kiekie. The Conference Hall venue was packed as guests enjoyed more than two hours of Ebenezer Obey Fabiyi’s timeless hits, with the audience singing along and dancing.
Globacom organized the event as a gesture of appreciation to the Ijebu community for their unwavering support over the past two decades of the Ojude Oba festival. “We decided to bring together great sons and daughters of Ijebuland to celebrate our shared heritage, and indulge in the melodious rhythms that resonate deeply throughout Yorubaland,” the company stated.
The company explained their choice of musical icons, noting that the “ageless icon and Juju music maestro, Chief Commander Ebenezer Obey, has contributed decades of good, sonorous and philosophical songs to our society. His songs are still as fresh and full of inspirational messages as they were yesterday.”
Regarding KWAM 1, the company highlighted that “For decades, King of Fuji, K1 De Ultimate, the Fuji master, has been a great part of the music firmament in Nigeria, with his unique brand of Fuji that has elicited huge interest.”
The event saw a strong turnout of prominent Ijebu figures, including the Olori of Oba Awujale, Chief Mrs. Olukemi Adetona; the Coordinator of Ojude Oba Festival Planning Committee, Professor Fassy Yusuff; and a committee member and Iyalode of Ijebuland, Chief Mrs. Bisi Osibogun.
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