News

Court summons Soludo for perjury, corruption

Published

5 years ago

July 15, 2021

An Abuja court has issued a direct criminal summons against Prof. Chukwuma Soludo, factional APGA governorship candidate and former Governor of the Central Bank of Nigeria, over alleged serial abuse of office and breach of the Code of Conduct for Public Officers while he was the CBN governor between May 29, 2004 and May 29, 2009.
In a Direct Criminal Complaint brought pursuant to Sections 88 and 89 of the Administration of Criminal Justice Act 2015 by one Oliver Bitrus complaining that between the period Prof Soludo held office as a public officer, “he flagrantly breached the Code of Conduct for Public Officer by buying or acquiring interest in a property known and described as No. 50 Brondesbury Park, London, NW6 7AT, United Kingdom. The property is covered by File Plan of Tile No. MX362301.
Oliver claimed that the property was bought or acquired using a proxy and/or nominee company known as Universal Energy Company Limited, and which investigation revealed was incorporated in the Isle of Man; and now used to round-trip public funds for the purchase.
“As a matter fact, purchase price of £2,150, 000 was paid on 20th October, 2006 in a single tranche, which sum was not fairly attributable to his income as the Governor of the Central Bank of Nigeria at the material time.
“Further investigation also disclosed that presently, the property is being occupied by defendant, his spouse and children and used as their personal and official addresses for all their companies and other business undertaking.
The Complainant listed companies owned and operated by the Soludo and domiciled at the said property as
(i). Zinora Limited: A private company owned by Mrs Nonye Soludo (spouse of Chukwuma Charles Soludo). This is company limited by shares which was registered on 29th January, 2013 with Company N: 8379214 and also has its registered office at No. 50 Brondesbury Park, London, NW6 7AT, United Kingdom.
(ii) The Soludo Foundation: Registered on 24th July, 2014 as a private company limited by guarantee with its registered office at No. 50 Brondesbury Park, London, NW6 7AT, United Kingdom.
It also has the company No: 9145134. The company has the following persons as members or directors – Nonye Frances Soludo, Chukwuma Soludo, Ozonna Tochukwu Soludo, Ifeatu Adaora Nnenna Soludo etal with having the above-mentioned property as their address.
(iii) Allsters Investment Limited: Registered on 2nd September, 2015 as a private company limited by shares with Company No: 9757553. It has its registered address at the same No. 50 Brondesbury Park, London, NW6 7AT, United Kingdom and also has the following persons as Directors – Mrs Nonye F. Soludo, Miss Ifeatu Adaora Nnenna Soludo, Mr Ozonna Tochukwu Soludo and Mr Chinua Belolisa Naeto Soludo with all the directors having the property in issue as the address.
The claimant further claimed that a sequential trail of evidence has revealed that while holding public office as the CBN governor, the defendant abused his office and breached the Code of Conduct for Public Officers by using a proxy, nominee or trustee company – Universal Energy Company Limited, incorporated in the Isle of Man for syndication of fund, to acquire the property and deliberately failed to declare the said property or his obvious interest therein in his Assets Declaration Form submitted to the Code of Conduct Bureau.
He was therefore said to have flagrantly violated Article 11 of the Part 1, 5th Schedule to the Constitution of the Federal Republic of Nigeria, 1999 (as Amended) and thereby liable to the penal sanction of disqualification from holding any other public office for a period of 10 years and forfeiture of the illicit property to the Federal Government of Nigeria pursuant to Article 18(2) of the Law.

News

Missing Billions: Lawmakers Summon NNPCL and 146 Marketers Over ₦432bn Downstream Debt

Published

57 minutes ago

September 9, 2026

Hamdalat Bisiriyu

Nigeria’s federal lawmakers are putting the downstream energy sector under the microscope after audit records revealed that state oil firm NNPCL and private fuel marketers have piled up at least ₦432 billion in unpaid regulatory obligations.

The House of Representatives Public Accounts Committee (PAC) confirmed the formal probe this week, following persistent warnings raised in the Auditor-General’s 2023 and 2024 annual reports.

Regulatory Levies Left Unpaid

The mountain of debt has accumulated over a six-year period from 2017 to 2023, remaining largely uncollected despite the country’s tight fiscal squeeze.

Audit records track a steep rise in default:

The 2023 audit initially captured ₦392 billion in total arrears, with NNPCL carrying over ₦162 billion and commercial marketers responsible for ₦230 billion.
The 2024 report revealed that private marketer debt alone had swelled to ₦432 billion, separate from state-owned NNPCL liabilities.
Regulatory data from the NMDPRA confirms that 146 companies affiliated with DAPPMAN and MEMAN owed ₦327 billion by 2025.

No Hiding Place for Defaulters

PAC Chairman, Rep. Bamidele Salam, made it clear that parliament expects compliance from corporate leaders, issuing a firm directive against corporate stonewalling.

Salam emphasized that the committee will scrutinize why statutory revenues were permitted to sit idle without vigorous enforcement from the NMDPRA. Defaulters will be forced to present audit trails detailing every transaction, outstanding balances, and proof of any remittances made to date.

For lawmakers, the objective is unambiguous: plug commercial leakages, enforce fiscal discipline, and recover every outstanding naira owed to the federation.

News

Fresh Blackout Hits Abuja as Apo Substation Transformer Trips

Published

1 hour ago

September 9, 2026

Hamdalat Bisiriyu

Parts of the nation’s capital have once again been plunged into darkness following an early-morning equipment failure at the Apo Transmission Substation on Wednesday.

The Transmission Company of Nigeria (TCN) confirmed the outage, attributing the disruption to the tripping of a 100MVA TR4 power transformer at its 132kV/33kV facility. Preliminary findings trace the failure to an oil spillage on the transformer’s red-phase High Voltage (HV) bushing, which forced four critical 33kV feeders, H31, H33, H35, and H37 offline.

News

Yamal Fires Back at Mbappé: “I’m Not Going to Beg” for Ballon d’Or

Published

22 hours ago

September 8, 2026

Trends Admin

Kylian Mbappé and Barcelona forward Lamine Yamal

Yamal Fires Back at Mbappé: “I’m Not Going to Beg” for Ballon d’Or

The 19-year-old Spain international insists his World Cup and La Liga triumphs speak for themselves, while also being named one of Barcelona’s vice-captains ahead of the October 26 ceremony.

Barcelona forward Lamine Yamal has made it clear that he will not campaign or “beg” for the 2026 Ballon d’Or, stating that his achievements on the pitch for club and country should speak for themselves. Speaking ahead of Barcelona’s Champions League opener against Feyenoord, the 19-year-old responded to comments from rival Kylian Mbappé, who had previously made his case for the award by highlighting his World Cup Golden Boot win, which also saw him become the competition’s all-time top goalscorer.

“I don’t think I need to campaign for the Ballon d’Or. I’m not thinking about what I deserve, everyone can think what they like,” Yamal told reporters. “I’m proud of everything I’ve done this year with my club and with the national team. We’ve become world champions, we’ve won the league again. I can’t ask for anything more. I think I’ve shown an incredible level, it’s your job and I will not beg for anything.”

The Spanish international, who finished second in last year’s voting behind PSG’s Ousmane Dembélé, is among the leading contenders for the prize alongside Mbappé, Harry Kane, Dembélé, and Khvicha Kvaratskhelia. The ceremony is scheduled for October 26 in London. Yamal was officially named among the 30 nominees for the 2026 men’s Ballon d’Or when France Football unveiled the list on Tuesday, marking his third nomination.

When asked about Dembélé’s recent comments naming Kvaratskhelia, Kane, and Mbappé as his top three, Yamal joked: “He’s a friend of Kylian, right? Honestly, I don’t care. I’m very happy with the year I had. Whenever I’ve faced both of them, I’ve won. They must have taken a dislike to me for some reason.” Spain knocked France out of the World Cup semi-finals with a convincing 2-0 victory.