Business

Corruption goes beyond stealing money – ICPC boss

Published

3 months ago

October 16, 2025

The Chairman of the Independent Corrupt Practices and Other Related Offences Commission, Dr Musa Aliyu (SAN), has said that corruption in Nigeria goes far beyond stealing public funds, describing it as “any deviation from the rule or due process.”

Aliyu made this remark in Abuja on Thursday while presenting a paper titled “Understanding Anti-Corruption Laws and Their Implications for Local Government Officials” at the 2025 National Summit of the Association of Chairmen of Local Government Service Commissions in Nigeria.

The summit, themed “Strengthening Local Government Administration in Nigeria,” drew participants from across the country — including local government administrators, policymakers, and anti-corruption experts — to discuss reforms aimed at improving transparency and governance at the grassroots level.

Represented by his Special Assistant on Legal Matters, Zainab Nass, the ICPC chairman stressed that corruption permeates every facet of society — from schools to markets and private institutions — and not just the public sector.

“Corruption is not just about stealing money; it is anything that deviates from the rule. It is corruption not to follow due process,” Dr Aliyu stated.

He urged Nigerians to uphold integrity, transparency, and adherence to the rule of law in all spheres of life, noting that meaningful development can only occur when both citizens and institutions act responsibly and lawfully.

Reflecting on Nigeria’s historical fight against corruption, Aliyu recalled earlier government campaigns such as the Ethical Revolution, the War Against Indiscipline and Corruption, and the Mass Mobilisation for Self-Reliance, Social Justice and Economic Recovery (MAMSER), which he said failed due to lack of institutional continuity and legal backing.

He noted that the establishment of the ICPC in 2000 marked a decisive shift in the nation’s anti-corruption drive, providing the first comprehensive legal framework to investigate, prevent, and prosecute corruption cases.

According to him, the Commission’s work is built on three key pillars — enforcement, prevention, and public education — and its initiatives such as Corruption Risk Assessments, Systems Studies and Reviews, and the creation of Anti-Corruption and Transparency Units in Ministries, Departments, and Agencies have significantly enhanced integrity in public institutions.

Aliyu also highlighted Nigeria’s compliance with international and regional anti-corruption frameworks, including the United Nations Convention Against Corruption, the Financial Action Task Force Standards, and the African Union Convention on Preventing and Combating Corruption.

Addressing local government officials, the ICPC chairman reminded them that all public servants — whether elected or appointed — are legally obligated to uphold ethical standards and accountability in their duties.

He warned that administrative misconduct such as financial misappropriation, falsification of records, nepotism, and abuse of office now carry serious legal consequences under Nigeria’s anti-corruption laws.

Citing the landmark 2024 Supreme Court judgment in Attorney-General of the Federation v. Attorney-Generals of Abia State & 35 Others, which nullified the dissolution of democratically elected local councils by state governors, Aliyu described the ruling as “a new dawn for grassroots governance.”

“We are now in the regime of asset recovery — taking back what was taken. Local governments must ensure that public funds serve the people, not private interests,” he declared.

Aliyu concluded by calling for renewed commitment to integrity, probity, and effective service delivery at the local government level, emphasising that true national development depends on how well local councils manage public resources to uplift the welfare of citizens.

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Business

EFCC Begins Probe Of Ex-NMDPRA Boss After Dangote’s Petition

Published

22 hours ago

January 10, 2026

Oluwagbenga Olaoye

The Economic and Financial Crimes Commission (EFCC) has commenced an investigation into a petition filed against the former Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, by the President of Dangote Group, Aliko Dangote.

It was gathered that Dangote formally submitted the petition to the EFCC earlier this week through his legal representative, following the withdrawal of a similar petition from the Independent Corrupt Practices and Other Related Offences Commission (ICPC).

Dangote had initially approached the ICPC, asking it to investigate Ahmed over allegations that he spent about $5 million on his children’s secondary education in Switzerland, an expense allegedly inconsistent with his known earnings as a public officer.

Although the petition was later withdrawn, the ICPC had said it would continue with its investigation.

Confirming the new development, a senior EFCC officer at the commission’s headquarters in Abuja, who spoke on condition of anonymity because he was not authorised to speak publicly, said the petition had been received and investigations had commenced.

“They have brought the petition to us, and an investigation has commenced on it. Serious work is being done concerning it,” the source said.

In the petition signed by Dangote’s lead counsel, Dr O.J. Onoja (SAN), the businessman urged the EFCC to investigate allegations of abuse of office and corrupt enrichment against Ahmed and to prosecute him if found culpable.

The petition further stated that Dangote was ready to provide documentary and other evidence to support claims of financial misconduct and impunity against the former regulator.

“We make bold to state that the commission is strategically positioned, along with sister agencies, to prosecute financial crimes and corruption-related offences, and upon establishing a prima facie case, the courts do not hesitate to punish offenders,” the petition read, citing recent court decisions.

Onoja also called on the EFCC, under the leadership of its chairman, Olanipekun Olukoyede, to thoroughly investigate the allegations and take appropriate legal action where necessary.

When contacted, the EFCC spokesperson, Dele Oyewale, declined to comment on the matter but promised to respond later. No official reaction had been received as of the time of filing this report.

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Business

IMPORTANT NOTICE REGARDING MONEY TRANSFERS IN NIGERIA (2026)

Published

2 days ago

January 9, 2026

Oluwagbenga Olaoye

Starting from *January 2026*, please ensure that *any money you send* to anyone — including me — comes with a *clear description* or *payment remark*. This is *very important* for tax purposes.

Use descriptions like:

– *Gift*
– *Loan*
– *Loan Repayment*
– *House Rent*
– *School Fees*
– *Feeding*
– *Medical*
– *Support*,
– School fee etc.

*Why this matters:*

In 2026, any money entering your account *without a description* may be treated as *income*, and *IRS (or relevant tax authority)* could tax it — or even worse, ask you to explain the source.

The *first ₦800,000* may be *tax-free*, but after that, any unexplained funds might attract up to *20% tax*, or in extreme cases, lead to legal issues.

So please:

– *Always include a payment remark.*
– *Avoid using USSD or apps that don’t allow descriptions.*
– *Ask the receiver for the correct description BEFORE sending.*

As for me, *do not send me any money* without discussing it with me first.
And no, I don’t want to hear “Sir/Ma, I used USSD” – if you can’t add a description, *hold your money*.

From now on, *I will tell you exactly what to write in the payment remark.*
Let’s all form the habit of *adding payment descriptions now* to avoid problems later.

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Business

FG earmarks N1.7tn in 2026 budget for unpaid contractors

Published

2 days ago

January 9, 2026

Newsbreak365_Admin

The Federal Government has budgeted the sum of N1.7tn in the 2026 Appropriation Bill to settle outstanding debts owed to contractors for capital projects executed in 2024.

A breakdown of the proposed 2026 national budget shows that the amount is captured under the line item titled “Provision for 2024 Outstanding Contractor’s Liabilities,” signalling official recognition of delayed payments to contractors amid recent protests over delayed settlements.

This budgetary provision follows mounting pressure from indigenous contractors and civil society groups who, in 2025, raised alarm over unpaid contractual obligations allegedly exceeding N2tn.

Some groups under the All Indigenous Contractors Association of Nigeria had also staged demonstrations in Abuja, lamenting the severe impact of delayed payments on their operations, with many contractors reportedly unable to service bank loans taken to execute government projects.

Earlier, Minister of Works David Umahi had promised to clear verified arrears owed to federal contractors before the end of 2025. However, only partial payments were made amid revenue constraints, prompting the inclusion of the N1.7tn line item in the 2026 budget as a catch-up mechanism.

In addition to the N1.7tn for 2024 liabilities, the government has also budgeted N100bn for a separate line item labelled “Payment of Local Contractors’ Debts/Other Liabilities”, which may cover legacy debts from previous years, smaller contract claims, or unsettled financial commitments that were not fully verified in the current audit cycle.

The total N1.8tn allocation is part of the broader N23.2tn capital expenditure in the 2026 fiscal plan, which seeks to ramp up infrastructure delivery while cleaning up past obligations.

Nigeria’s contractor debt backlog has been a recurring fiscal issue, worsened by delayed capital releases, partial cash-backing of budgeted projects, and underperformance in revenue targets.

Speaking with journalists at the entrance of the Federal Ministry of Finance in December 2025, the National Secretary of the All Indigenous Contractors Association of Nigeria, Babatunde Seun-Oyeniyi, said the government’s failure to release funds after multiple assurances had forced contractors to resume protests. He said members of the association were owed more than N500bn for projects already completed and commissioned.

He explained that despite recent assurances from the Minister of Finance, Wale Edun, no payment had been made. “After the National Assembly intervened, they told us that they will sit the minister down over this matter. And we immediately stopped the protest,” he said.

According to him, repeated follow-up meetings with the minister had produced no tangible progress. “They have not responded to our request,” he said. “In fact, more than six times we have come here. Last week, we were here throughout the night before the Minister of Finance came.”

Oyeniyi said that although some payment warrants had been sighted, no funds had been released. “Specifically, when we collate, they are owing more than N500bn for all indigenous contractors. We only see warrants; there is no cash back.”

He accused officials of attempting to push the payments into the next fiscal year. “The problem is that they want to put us into a backlog. They want to shift us to 2026; that 2026, they are going to pay,” he alleged. “They will turn us into debt, and we don’t want that. We won’t leave here until we are paid.”

However, The PUNCH observed that earlier in August 2025, the Federal Government claimed that it had cleared over N2tn in outstanding capital budget obligations from the 2024 fiscal year, with a pledge to prioritise the timely release of 2025 capital funds.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed this at a ministerial press briefing in Abuja, where he also declared that Nigeria is “open for business” to global investors on the back of improved economic stability.

“In the last quarter, we did pay contractors over N2tn to settle outstanding capital budget obligations. That is from last year,” Edun said. “At the moment, we have no pending obligations that are not being processed and financed. And the focus will now shift to 2025 capital releases.”

By December 2025, The PUNCH reported that President Bola Tinubu expressed “grave displeasure” over the backlog of unpaid federal contractors and set up a high-level committee to resolve the bottlenecks and fund repayments.

Briefing State House correspondents after the Federal Executive Council meeting in Abuja, Special Adviser on Information and Strategy, Bayo Onanuga, said the President was “upset” after learning that about 2,000 contractors are owed. “He made it very, very clear he is not happy and wants a one-stop solution,” Onanuga told journalists.

Tinubu directed the setting up of a committee to verify all claims from federal contractors. The new budget’s provisions are expected to draw from the outcome of that verification exercise and may be disbursed in tranches based on confirmed and certified claims.

The total proposed 2026 national budget stands at N58.47tn, with N23.2tn earmarked for capital expenditure, N15.9tn for debt servicing, N15.25tn for recurrent spending, and N4.09tn for statutory transfers.

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