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MTN Employees Battle Firms in Court over Alleged Land Fraud

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MTN Employees Cooperative Society, through its prosecution witness, Cyril Ilok, has sued two of its former staff; Primavera Engineering and Construction Limited and Mabo Dredging Limited; for allegedly defrauding them of some hectares of land, purportedly meant for the development of Yellow Estate Project, Okun Ajah, Lagos.

 

The defendants in the case include: Victor Akintunde, Gani Mustapha, Mutairu Babatunde, Primavera Engineering and Construction Limited and Mabo Dredging Limited, who are being prosecuted on an 18-count-charge by the anti-graft agency, Economic and Financial Crimes Commission (EFCC), for defrauding MTN Employees Co-Operative Society (MEMCOM) members of the sum of N1.4Billion in the guise of buying 39 hectares of land located at Okun Ajah, Lagos.

 

Ilok, the General Manager with the Business Risk Management Unit of MTN Nigeria narrated to the court, how the defendants stole the money meant to buy landed property to build the proposed “Yellow Estate” for members of the Co-Operative.

 

Victor Akintunde, according to the prosecution witness, was the president of MEMCOS and Gani Mustapha, the 2nd a treasurer, jointly conspired to steal the money contributed by members of the Co-Operative for the construction of the proposed Yellow Estate.

 

In the words of Ilok, the 1st and 2nd defendants signed a Memorandum of Understanding (MOU) with the land owner and the total of 26.5 hectares was signed at the cost of N1, 501,902,666.00. But it was later discovered that only N963.3, 000,000.00, was paid, leaving a difference of N373, 500,000.

 

“MEMCOS through the 1st and 2nd defendants acquired 39 hectares of land for real estate development but the defendants did not pay for the said numbers of hectares. The defendants only paid for 13 hectares. We later discovered that the 1st and 2nd defendants mismanaged the sum of N1, 357,764,414.

 

“1st and 2nd defendants were former staff of MTN while the 3rd defendant, Mutairu Babatunde, is the owner of the 4th defendant, Primavera Engineering and Construction Limited. It was discovered that there were a lot of irregularities in the expenses. The total sum of N3.2billion had been collected by the executive of the Corporative led by Akintunde and Mustapha for the purpose of building houses for members of the cooperatives.”

 

The prosecution witness disclosed that when the irregularities were realized, the new management, appointed KPMG, a professional auditing and accounting firm, to investigate the account of the cooperative for the period between 2008 and 2011.

 

During this period, he (Ilok) worked with KPMG on the investigation and was also interfacing with the firm and the defendants, after which the report of KPMG was submitted to him to help summarise the issue.  Ilok told the court that it was thereafter that a petition on unpaid monies was written to the EFCC.

 

“There were 13 hectares of land and 5 hectares which were encumbered. The sum of N427, 114,414,00 was supposed to have been refunded by Primavera Engineering to MEMCOS.  A cheque was however written by Primavera which was returned unpaid. The company however issued another cheque of N300million to MEMCOS and it was cleared. The difference between the amount that was cleared and the one, which was returned, was N127, 114,414.

 

“The amount said to have been mismanaged is N1,357,764,414.00. It was also discovered that there were un-receipted payments and excess payment documents on five hectares of land which were also defective among the hectares supposedly bought.”

 

Under cross-examination by the defence counsel, the witness stated that MEMCOS had insisted that the 1st and 2nd defendants refund the defective 5 hectares of land.

 

He further included that the defendants did not account for what they did with N50million from the money given to them, adding that he was not aware that the 4th defendant was engaged to do other things which include perfection of documents, layout and building approval but that monies were paid to the company through the 1st and 2nd defendants to that effect.

 

Even the registration of the land, presently, is said to be in contention and ineffective.

 

“The grouse of the MEMCOS is the failure of the defendants to have the money paid for 5 hectares refunded. The titled document was used by MEMCOS to obtained loan from Federal Mortgage Bank in respect of Yellow Estate project.

 

“I did not know the amount of loan MEMCOS got from the bank. I was not present at the negotiation between owners of the 39 hectares of land and MEMCOS acting through the 1st and 2nd defendant. They did not account for what they did with the money. But MEMCOS insisted that the over payment should be refunded”, he remarked

 

The trial judge, Justice Lateef Lawal-Akapo, has fixed June 1 for continuation of trial at a Igbosere High Court, Lagos.


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REA, NBS Partner to Deliver Comprehensive Energy Data for Nigeria

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The Rural Electrification Agency (REA) and the National Bureau of Statistics (NBS) have signed a Memorandum of Understanding (MoU) to conduct a nationwide energy survey aimed at closing long-standing data gaps in Nigeria’s power sector. The initiative is expected to guide policy, attract investment, and accelerate universal electricity access.

Signed in Abuja, the agreement establishes a National Energy Survey based on the Multi-Tier Tracking Framework (MTF), a globally recognized methodology that measures electricity access not only by grid connection but also by quality, affordability, reliability, and usage of electricity and clean cooking solutions.

The survey will be implemented under the Energy Sector Management Assistance Program (ESMAP) of the World Bank. Dr. Abba Aliyu, REA Managing Director/CEO, said the partnership underscores REA’s commitment to evidence-based rural electrification planning and will generate detailed insights on electricity access and off-grid solutions nationwide.

Prince Adeyemi Adeniran, Statistician-General of the Federation/CEO of NBS, emphasized that reliable statistics are essential for effective policymaking, assuring that NBS will provide technical oversight, sampling expertise, and quality assurance to meet global standards.

The survey will assess energy access, household affordability, expenditure patterns, and the adoption of off-grid technologies such as solar home systems, mini-grids, and clean cooking solutions. REA will provide sector expertise and policy alignment, while NBS manages regulatory approvals, methodology, and technical supervision.

Funded and technically overseen by the World Bank, the exercise will run for 18 months, with the resulting data expected to improve national energy planning, programme targeting, and private sector investment, particularly in underserved and rural communities.

Officials said the collaboration reflects the Federal Government’s commitment to strengthening inter-agency coordination, enhancing energy data availability, and advancing Nigeria’s goal of universal electricity and clean cooking access.


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SiBAN New Executive Council to Champion Vision for Nigeria’s Digital Economy

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The Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), the nation’s foremost self-regulatory body for the blockchain industry, has completed its election cycle, heralding the beginning of a new executive council dedicated to scaling Nigeria’s digital economy.

The highly anticipated elections concluded recently with the emergence of a new leadership team poised to champion industry standards, foster innovation, and drive widespread adoption of blockchain technology across the country.

The newly elected executives, who will officially assume their roles in January 2026, represent a blend of legal, financial, and technical expertise critical for navigating the evolving regulatory landscape.

Leading the charge is Mela Claude-Ake, a lawyer, who has been elected the President of SiBAN to succeed the outgoing President, Obinna Iwuno, whose tenure was marked by significant achievements, including facilitating crucial reforms and forging strategic partnerships with regulators and other critical stakeholders in the digital asset industry. Mr. Iwuno will formally hand over the reins to the new council in January 2026.

Other elected to the executive council are Chimene Chinah – Vice President 1, in charge of Blockchain education and adoption; Oroke Cornelius – Vice President 2, in charge of membership, strategic partnerships, and funding; and Ayo Shonibare – Vice President 3, in charge of policy, regulation, and ethics.

Others are Ugochukwu Peters – Vice President 4 in charge of digital asset operations and capital markets, Mbene Vivian – Chief strategy officer in charge of projects and incubation, Olufunmilayo Tugbobo as Financial Secretary/Chief Financial Officer, and Chiemeka David Ohajionu as Chief Communications Officer.

The newly elected council’s structure reflects SiBAN’s commitment to addressing key pillars of the blockchain ecosystem: from grassroots education and fostering innovation through projects, to establishing robust regulatory frameworks.

In his acceptance speech, Mela Claude-Ake emphasized the vital role SiBAN plays in shaping the future of finance and technology in Nigeria.

“The trust placed in this new council is not one we take lightly. We inherit a great foundation built by the outgoing team. Our mission now is to accelerate. We stand at a critical juncture where the potential of blockchain to revolutionize every sector, from finance and governance to supply chain, is undeniable. This new council will focus relentlessly on advancing smart, collaborative regulation, democratizing blockchain education, and protecting the interests of all stakeholders to ensure that Nigeria remains a leader in the African digital economy space,” he assured.

He added that he is humbled by the opportunity to be the face of one of Nigeria’s youngest and most promising sectors — blockchain tech.

“As a tech enthusiast I am excited at the possibilities. The ecosystem needs careful nurturing by the government. My administration will be focused on building new bridges for the blockchain sector internationally and domestically, establishing trust with the public and unifying the sector. I enjoin all blockchain stakeholders in Nigeria, connected to Nigeria or of nigerian heritage to join hands together with my administration in building the industry of our dreams.”

The industry now looks forward to the handover ceremony in January 2026 and the initiatives the new SiBAN leadership will unveil to solidify the association’s role as a catalyst for innovation and a respected partner to the Nigerian government.


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APC National Chairman Appoints Mr. Abimbola Tooki as Special Adviser on Media

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The National Chairman of the All Progressives Congress (APC) has approved the appointment of Mr. Abimbola Tooki as Special Adviser on Media and Communication Strategy.

APC National Chairman Appoints Mr. Abimbola Tooki as Special Adviser on Media

Mr. Abimbola Tooki

The appointment reflects the Chairman’s confidence in Mr. Tooki’s vast experience, professional pedigree, and proven capacity to deploy strategic communication in strengthening party cohesion, public engagement, and effective message delivery at both national and international levels.

Mr. Tooki is a celebrated journalist, columnist, and media strategist with deep expertise in governance reporting, crisis communication, information management, and team leadership.

He is widely regarded for his ability to bring institutions closer to the people through the effective use of conventional and digital media platforms.

His career demonstrates a consistent track record of innovation, results-oriented leadership, and excellence in managing internal and external communications.

A versatile Information and Communications Technology (ICT) editor for many years, Mr. Tooki managed and developed influential ICT and business sections in leading newspapers, contributing significantly to public understanding of technology and economic issues.

He also pioneered major newsroom initiatives, including the establishment of specialised ICT publications, and is respected for his sharp analytical skills and solution-driven approach in fast-paced environments.

His professional journey spans several reputable media organisations, culminating in his role as Editor of BusinessWorld Newspaper, where he oversees editorial direction, production, administration, and corporate management.

He previously rose through the ranks at Financial Standard, earning rapid promotions due to exceptional performance, intellectual depth, and dedication to duty.

Mr. Tooki is also a familiar face and respected voice in broadcast media, serving over the years as a guest analyst on platforms such as Channels Television and other national stations, where he analyses major headlines, public policy, and issues of national importance.

Academically, he holds an MBA from Obafemi Awolowo University, a Postgraduate Diploma in Journalism from the Nigerian Institute of Journalism, and a Bachelor’s degree in Language Arts from the University of Ilorin.

In his new role, Mr. Tooki is expected to provide strategic direction for the Chairman’s media engagement, strengthen the APC’s communication architecture, manage reputation and messaging, and enhance the party’s interface with stakeholders, the press, and the Nigerian public.

The APC congratulates Mr. Abimbola Tooki on his appointment and wishes him success as he brings his wealth of experience, energy, and professionalism to bear in support of the Chairman and the party at large


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