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Report Fingers Jeb Bush in Dirty Nigerian Deals

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Jeb Bush was the son of the sitting U.S. president when he was greeted in Nigeria as a hero, leading a 21-person delegation to the country in 1989.

“The visit was the grandest celebration of U.S.-Nigeria friendship we have seen in recent memory,” read a U.S. State Department diplomatic cable at the time titled “Nigeria Goes All out for Jeb Bush visit.”

During a visit to Lagos, then-Nigerian President Ibrahim Badamasi Babangida and Jaja Nwachukwu, former External Affairs minister gave Bush gifts. Bush returned the favor by giving a medal from the inauguration of his father, President George H.W. Bush.

But this was a business trip for Jeb Bush, part of his job helping in sales for MWI Corporation, a South Florida company that last year was found guilty in a federal civil case of misleading the U.S. government to secure taxpayer-funded loans.

New details uncovered by Naples Daily News-Treasure Coast newspapers in depositions and confidential FBI interviews reveal claims that Bush made more on MWI business deals than the $648,000 he has acknowledged publicly and he made money on the Nigeria project at the center of the federal investigation.

Former MWI employees contradicted Bush’s earlier statements insisting that he never received a penny from the Nigeria project, but those workers did not provide proof nor did investigators seek it, according to the documents.

Bush, who co-owned the Bush-El company to work with MWI, was never a target or accused of any wrongdoing in the federal case that ended with a verdict last June against the company.

Federal investigators could find no evidence tying him to wrongdoing discovered in the Nigeria pump deal, although at the time they didn’t rule it out, according to a confidential January 2002 U.S. Department of Justice memo obtained by Naples Daily News-Treasure Coast newspapers.

“We do not now have evidence that Bush had any involvement in the contracts at issue in the relator’s complaint, though this remains a possibility,” according to the memo.

As Bush prepares a run for president, his business record will come under intense scrutiny.

The MWI deal is the second venture in which investors eagerly sought his involvement, yet ultimately the deals ended in litigation and federal scrutiny. Bush also has faced questions about ties to a bankrupt South Florida company whose leaders were convicted of fraud and money laundering.

The Naples Daily News-Treasure Coast newspapers offered Bush an opportunity to review and discuss his company’s work with MWI, but spokeswoman Kristy Campbell said he declined.

“Governor Bush’s previously released tax returns detail all of his earnings from Bush-El. As he has confirmed multiple times, he recused himself from any compensation related to the projects in Nigeria. Anything to the contrary is flat out not true,” Campbell said in a written statement.

“The federal government specifically did not include a company Governor Bush previously worked with in the complaint they filed.

Two years ago, a judge in the ongoing MWI litigation specifically declined to include anything related to Bush-El in the litigation because there is not even a mention of the former company in the plaintiff’s complaint.

There is nothing suggesting that Governor Bush has done anything that was not appropriate,” Campbell’s statement reads.

For roughly three years starting in 1998, MWI was in the crosshairs of FBI agents and federal prosecutors.

And Bush’s name came up several times, according to investigative records and other case documents, including confidential FBI reports of interviews, obtained by Naples Daily News-Treasure Coast newspapers.

Investigators were interviewing former employees of the pump company to determine if they should intervene in a whistleblower lawsuit filed by a former company vice president.

The feds were interested in the case because the Nigeria deal was financed through the Export-Import Bank, a federal entity that offers loans so that U.S. companies can increase exports to spur job creation.

Over a two day span in March 1992, the bank gave final approval to eight separate loans totaling $74.3 million. The money went to Nigeria, which used it to purchase MWI pumps.

In January 2002, federal prosecutors filed a civil case against MWI, accusing the company of failing to disclose nearly $30 million in commissions paid to Alhaji Indimi, its Nigerian sales agent who later became an oil baron and one of the richest people in Africa.

After a more than 12-year legal saga, a federal jury in Washington found MWI guilty in June of not reporting the commissions used to buy luxury cars, mansions, and a swanky golf outing for Indimi.

While never accused of wrongdoing, Bush’s role with MWI came up during FBI interviews and depositions as investigators reviewed the company’s practices.

They wanted to know more about Bush-El, the company Bush ran with MWI owner David Eller from 1988-1993 to market MWI pumps oversees.

During his failed 1994 bid for Florida governor, Bush said he reported $648,000 on tax returns for his work at Bush-El, but no income came from the Nigeria project.

Federal investigators heard a different story from former MWI employees, who said he earned a higher figure, although all offered different amounts.

The Justice Department memo citing Bush also references an FBI interview from former employee Mike Carcamo, who worked at MWI from 1988-1994. He told FBI agents that Bush-El had a contract with MWI to receive 3 percent on projects in a handful of countries, including Nigeria.

Irma Needelman, who served as secretary to the company’s sales staff for nine years, also told FBI agents and federal prosecutors that Bush made amounts greater than he had publicly acknowledged from MWI.

Another former executive said Bush’s company made 5 percent on projects, including from Nigeria.

The Justice Department memo came from the office of Robert D. McCallum, who ran DOJ’s civil division at the time.

A Yale University classmate of President George W. Bush, fellow member of the Skull and Bones society and decades-long friend, Bush appointed McCallum in 2001 as assistant attorney general for the civil division.

In an interview with Naples Daily News-Treasure Coast newspapers, McCallum said he did “not have recollection of the case.”

While his name surfaced in the investigation, Jeb Bush was not cited, nor was Bush-El, in the federal government’s civil complaint. That meant any money he or his company received and anything about his role with MWI could not be brought up at trial.

The whistleblower suit, filed by former company vice president Robert Purcell, did cite Bush-El. Purcell said in his lawsuit, among other things, that commissions to Indimi were higher than Export-Import bank allowed so he could bribe Nigerian officials, and that MWI transferred commissions he was supposed to receive to Bush-El.

Nicole Navas, a Justice Department spokeswoman, declined to comment on why Bush-El was left out of the government’s lawsuit, noting it’s “still pending litigation.”

Through a company attorney, Eller and other current MWI employees declined comment because of an ongoing appeal in the case. Purcell also declined comment.

Bush-El was a company created, in part, to harness Bush’s political star power, according to testimony in the civil case.

“He was the high lama. I mean, you know, he was God walking on water,” Greg Johnson, the company’s former pilot, said in his deposition of a 1989 trip Bush took to Nigeria for MWI. “I mean, the son of the president of the United States.”

At least three former MWI employees said under oath that Bush received anywhere from $800,000 to 5 percent of MWI sales. While specific sales numbers were not readily available, the company saw a $16 million increase in net sales from 1993 to 1994 attributed primarily to the Nigeria project, according to testimony from the financial officer.

Carcamo worked for the company for six years, including working directly on the Nigeria deal. His boss was Juan Ponce, MWI’s former vice president of international sales. Carcamo told FBI agents that Bush’s contract with MWI provided commissions on sales in a host of countries, including Nigeria.

“Carcamo advised that Jeb Bush had a contract with David Eller in 1989 that entitled Bush to three percent of all sales to Malaysia, Taiwan, Nigeria, Thailand, and Mexico,” according to the FBI report on Caramo’s 1999 interview.

In a recent interview with Naples Daily News-Treasure Coast newspapers, Carcamo said Bush made $1.7 million directly from the Nigerian deal, which was paid in 1993 as he was leaving the company to run for governor. That separate contract was not mentioned in the FBI interview, but Carcamo says he saw a copy of the deal. He could not offer documentation.

Needelman, the former company secretary for nine years responsible for preparing legal documents for national and international shipping, told the FBI in 1999 that Bush made around $800,000 from MWI. Her position with the company was eliminated in 1996.

“Needelman stated MWI gave Jeb Bush hundreds of thousands of dollars (she estimated $800,000) as an incentive for Bush to do public relations work in Nigeria and Egypt,” according to the FBI report of her 1999 interview.

In an interview with Naples Daily News-Treasure Coast newspapers, she said she could not remember all of the specifics surrounding Bush’s payments, but that it was “laughable” that he only made $648,000. During that interview, she said he made more than $1 million.

During his deposition in the whistleblower case, Ponce, the company’s former vice president and Carcamo’s boss, said “Bush-El was to earn 5 percent,” and he further explained the arrangement of 5 percent “of all these projects, which was going to be shared half and half between Jeb Bush” and MWI.

As Bush readies a 2016 run for the White House, he has begun stepping away from business obligations, including positions on company boards. In addition, his business record has come under greater scrutiny, including payments from InnoVida, a now bankrupt South Florida-based materials company.

In 2007, shortly after leaving the governor’s mansion, he signed a $15,000 consulting contract with InnoVida. In 2008, Bush became a board member and later inked agreements with a company subsidiary that would pay him up to 8 percent commissions for developing business in Mexico, South Africa, and Nigeria, according to court documents.

After the massive 2010 earthquake in Haiti, the company received a $10 million federal loan to build housing on the devastated island nation. Ultimately, $3.3 million of the money was paid before federal officials grew suspicious that Claudio Osorio, the company’s chief executive, was mismanaging funds.

In 2012, Osorio and Craig Toll, the company’s chief financial officer, were charged with dozens of counts of fraud and money laundering. A year later, Osorio got a 12 year sentence and ordered to repay $24 million, while Toll got four years and was ordered to repay $3.3 million.

Bush cut ties with the company in 2010 when he began to suspect Osorio was mismanaging funds. When the company filed for bankruptcy, he repaid $270,000 of the $469,000 he made from the company, and returned his $15,000 consulting fee.


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Max Air to Resume Operations Two Months after Suspension

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Max Air is set for resumption of service, two months after suspending flight operations due to a tyre burst incident involving one of its aircraft at the Mallam Aminu Kano International Airport (MAKIA), Kano.

Max Air to Resume Operations Two Months after Suspension

A statement by the airline’s management said that the carrier would resume flight services on March 21, 2025.

When the airline suspended operations in January, it said that it would close domestic operations for three months.

With this, the airline was expected to resume in April.

However, the airline in a statement on Monday, said that its resumption was due to a successful operational evaluation, adding that this strategic pause allowed it to reinforce its commitment to safety, compliance and operational excellence.

The statement added: ‘During this period, we worked closely with aviation authorities to ensure that all statutory requirements were met, while enhancing our service delivery standards.

“As we return to the skies, passengers can expect improved travel experiences, increased efficiency, and the unwavering hospitality that Max Air is known for. We sincerely appreciate the patience and support of our valued customers during the temporary suspension.”

Max Air, had in January, suspended its domestic flight operations, following a tyre burst incident involving one of its aircraft in Kano.

The affected Boeing 737-400 aircraft, with registration number 5N-MBD, suffered a tyre burst while landing at MAKIA at about 10:51 p.m. on 28 January 2025.

Although all 53 passengers on board were evacuated safely, the aircraft was temporarily grounded before the Federal Airports Authority of Nigeria (FAAN), reopened the runway the next day.

During the suspension period, the Nigeria Civil Aviation Authority (NCAA) said that it would conduct a comprehensive safety and economic audit of the airline.

Mr. Michael Achimugu, director of Public Affairs and Consumer Protection, NCAA, in a statement released to the media, also stated that the regulatory body would support the Nigerian Safety Investigation Bureau’s (NSIB) probe while also conducting its own assessment of the airline.

He noted that the NCAA was already carrying out an organisational risk assessment for all scheduled airlines, including Max Air, before the latest incident.

“However, as a result of this incident, Max Air is suspending its domestic flight operations for three months, effective from midnight on 31 January 2025, to allow for an internal review of its operations.

“The safety audit will involve a re-inspection of Max Air’s organisation, procedures, personnel, and aircraft, as specified by the Nigeria Civil Aviation Regulations,” Achimugu had said.

He added that the economic audit would assess the airline’s financial health to ensure it can sustain safe flight operations.

 

 

 

 


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KPMG Reveals Africa’s Gaming Industry Recorded $1Bn Revenue in 2024

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Africa’s gaming industry generated $1 billion in revenue in 2024, according to the 2025 Africa Games Industry report, published by KPMG in collaboration with Maliyo Games, highlighting efforts to digitize African culture through gaming.

The collaboration aims to improve the gaming industry in Nigeria by incorporating African culture into digital games.

Nigeria is Africa’s fastest-growing gaming market with revenue reaching $185 million in 2022. The country is positioned to play a central role in the continent’s gaming industry, and the report provides insights into the market’s evolution over the last 12 to 18 months.

Lawrence Amadi, partner, Tech Assurance, KPMG West Africa, speaking during the launch at the KPMG Tower in Lagos, recently, captured key developments in the industry and how gaming could be tailored to reflect African culture.

“Some of us may be familiar with Nintendo and Xbox, but what we are doing with this report is different. We are seeing the emergence of games that are custom-built for our culture. Games like WatKing and Downpour Drivers feature elements that people on the continent can relate to. This makes gaming more meaningful, and that is why this partnership is important,” he said.

Also emphasising the significance of the partnership, Amadi added, “The collaboration you see here brings KPMG and Maliyo Games together. Maliyo is a leading game development company in Africa, and we’ve chosen to partner with them because it is important to work with an industry front-runner.”

Hugo Obi, founder and CEO of Maliyo Games, highlighted the importance of developing games that resonate with African audiences.

“We are a mobile game development company based in Lagos, focused on creating African-inspired games. We take the games we play traditionally and digitize them. This is important because the games industry generates more revenue than the music and film industries combined,” Obi said.

He added that Africa generated $1 billion in gaming revenue in 2024. “That is how much money people are spending on games. And when I say games, I am not talking about gambling but the kind of games people play casually. The ability to create and develop games locally is important for economic growth,” he noted.

Obi also spoke about Maliyo’s collaboration with Disney to develop Watch Rising Chef, a cooking game centered around African cuisine. “Your family members abroad can now prepare jollof rice, fried chicken, and plantain on their mobile phones or tablets,” he said

He stressed the importance of building a gaming industry that is recognised and understood. “This industry is not mainstream yet. Many people play games, but very few understand how they are made or their economic impact. By partnering with KPMG, we aim to mainstream this knowledge and make it accessible,” he noted.

Beyond economic benefits, gaming also has positive social impacts. Obi pointed out that games enhance cognitive skills, problem-solving abilities, and social connections.

“Gaming is a form of entertainment that brings joy to players. In a world where people are constantly working and dealing with stress, gaming offers a form of escapism,” he added.

He also addressed misconceptions about gaming demographics. “Many assume that gaming is for children, but the data suggests otherwise. The average gamer is 18 years and 37 years old, male and female.

“This is because gaming devices are often registered under parents’ names. People of all ages engage in gaming, and there are different games for different age groups,” Obi said.


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Jumia Nigeria Kicks Off Tech Week 2025

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Jumia, pan-African e-commerce platform, has launched its highly anticipated annual ‘Tech Week’ campaign, bringing consumers amazing deals on the latest gadgets and smart devices.

Under the theme “Future is in Your Hands,” this year’s campaign is designed to inspire Nigerians to embrace cutting-edge technology and innovation. Running from March 17th to March 30th, 2025, the campaign offers millions of customers access to unbeatable discounts on a wide range of tech essentials, including smartphones, laptops, home appliances, and entertainment systems.

In partnership with leading global and local brands such as Xiaomi, Oraimo, Binatone, Itel, SilverCrest, Ecoflow, Tecno, Realme, Skyrun, Century Appliances, Hisense, PZ Cussons, Unilever and Nivea, Jumia is committed to ensuring a seamless shopping experience with the best deals on high-quality tech products.

“We’re excited to present Jumia Tech Week 2025, a platform to enable Nigerians to have access to high-quality devices. With the rapid growth in digital adoption across the country, this campaign is designed to put the latest innovations within reach, helping customers stay connected, productive, and entertained. Our strategic partnerships with top brands allow us to deliver premium products at the best prices, making tech upgrades accessible to all,” said Sunil Natraj, CEO, Jumia Nigeria.

Commenting on the partnership with Jumia for Tech Week, Sylvie Zeng, Head of E-Commerce, Xiaomi, said “Xiaomi is focused on bringing cutting-edge technology to everyone, and Jumia Tech Week 2025 is the ultimate opportunity to experience our diverse range of innovative products at unbeatable prices.

“From the high-performance Poco series to the reliable and stylish Redmi smartphones, and a wide selection of AIoT devices designed to enhance your smart home, Xiaomi offers powerful, beautifully crafted technology for every need. This Tech Week, don’t miss out on the best deals to upgrade your lifestyle with Xiaomi, exclusively on Jumia!”

With over 142 million active internet subscribers reported in January 2025, Nigeria continues to witness an accelerated digital transformation. Jumia Tech Week caters to this dynamic shift, offering consumers a trusted platform to explore and acquire the latest tech essentials conveniently.

Beyond amazing discounts, Jumia Tech Week 2025 features exclusive flash sales, brand days, exciting giveaways, and interactive games throughout the campaign. Consumers can enjoy a seamless online shopping experience with secure payment options and pay-on-delivery services, ensuring accessibility for all.


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