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I never said I’m a billionaire— Ex-Anambra CP
I never said I’m a billionaire— Ex-Anambra CP
Aderemi Adeoye, a retired commissioner of police in Anambra, has disowned claims that he described himseld as a “billionaire.”
Adeoye said this on ‘The Morning Show’, an Arise Television programme, on Friday.
He said that he has never amassed wealth nor abuse his office, adding that the civil service rules and police code of conduct does not bar anyone from investing neither is the law against buying shares.
The retired commissioner also denied saying he would compete with Aliko Dangote, the Forbes’ richest African in 10 years time.
The group accused him of operating a “Ponzi scheme” and misappropriating funds meant for investments in Alpha Trust Investment Club, the cooperative co-founded by him
“May I request that you provide the clip where I said I am now a billionaire,” Adeoye said.
“I never said so and i am shocked that erudite journalist of very high reputation will simply run with a story they never researched. I have never said anything of such. I weigh my words before I alter them and every word say, i say in good faith. I never said I am now a billionaire and anyone who has proved to be contrary is challenged to produce it. Now going to whether I have used my office. Those who make their assertion can also prove that if they have evidence.
“I have never abused my office. I have never amassed wealth. I have never done anything that is against civil service rules or any law known to man.
“Civil service rules and police code of conduct does not bar anyone from investing. There is no law against buying shares. There is no law against investing in land or property. The only thing is that you must be able to justify the means.
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On April 27, the commissioner bowed out of service after 35 years of service and 10 months of leading the police command in the state.
He revealed that during his service period, he equipped himself through trainings in Nigeria and abroad, gained financial education, leading to the establishment of an investment club in 2018.
Olusegun Adeniyi, a former presidential spokesperson and chairman of THISDAY editorial board, in article tittled “The Billionaire Police Commissioner” alleged Adeoye to have said his net worth is now N20 billion and he has set his eyes on displacing Aliko Dangote as the richest man in Africa within the next ten years.
Adeniyi said he is not opposed to legitimate ‘side hustles’ but there is a problem when public officials acquire stupendous wealth that is impossible to explain and then make a show of it.
He added that he conducted a search at the Corporate Affairs Commission (CAC)and google search, and the results were shocking as a business concern with a portfolio of N20 billion is not listed at the CAC.
Reacting to this, the retired commissioner said he did the same google search himself and found several entries that explained to the world what the investment club does and its mode of operation.
“It is an investment club that has an arm that is registered with the local state government as a cooperative and we are registered with the corporate affairs commission (CAC) Olusegun Adeniyi, in his verdict calling, claimed to have done a google search and he couldn’t find anything else,” the commissioner continued.
“Even though when I did the same google search myself, I found several entries that explained to the world what we do and how we do it. He said he checked the CAC database and he could not find us, meaning we are illegal, meaning we don’t exist. That’s a fallacy.
“I have our certificate of registration here, and I hereby display it for the world to see. This is for CAC. Not only are we registered with CAC, our armament files are up to date with the CAC. Like I mentioned earlier, our known arm is also registered with the local state government as a cooperative. Here is our school certificate issued by the EFCC. So you can begin to see when someone says we don’t exist, we are not registered, and I’ve shown evidence that we are, including registration with EFCC.
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Adeoye added that the former presidential spokesperson only found out a petition to the inspector general of police by renegade members expelled for criminal conduct.
“The inspector general of police is a disciplinarian. He does not tolerate nonsense and the IG will not condone an officer going into anything that is against the ethics of the job, and we look on, the IG never does that.
“The IG forwarded the petition to me in the spirit of fairness, and I replied, addressing every issue that was raised in the petition, the IGP was satisfied.
The retired commissioner clarified that the name of the club he founded is Alpha Trust Investment Club, adding that it is an investment forum and not a business entity.
“Our purpose is to invest. Not to do business. So we don’t have an office, We don’t have overhead costs, we have no employee. We don’t pay salary, we don’t run generator. We have no official car, we don’t refund the expenses of any kind.
“We never campaigned publicly for membership. We simply put out an update and our members informed their relations and friends who might be interested and for 5 years of our existence, we have paid dividends every year without fail. We pay dividends once a year. The question you ask about how we put resources together is very simple.
“Only thing members pay, those who are officials of the club, is their data and that data each person uses for his work is seen as their individual contribution to the growth of the club. Only thing we spend money on is organizing our meetings.
“Physical meetings and this is paid for by membership dues which is 5,000 Naira per member per annum for anyone to be a member, he must be a Nigerian. Irrespective of where he is domiciled in the world. Number two. He must have a visible means of livelihood. Which we verify. Usually we demand to see workplace identity card and we do further to verify. If he did, his documents are genuine. We do background check.
“We insist that any member we are to admit must not have a criminal record or a pending criminal matter at any police commission in Nigeria. Those who are pending matters with EFCC are excluded. Majority of our members are Nigerian professionals all over the world.
So, anyone to be admitted must meet these criteria. He has a visible means of livelihood. He is now free to indicate how many units of our shares he or she wishes to buy, subject to a minimum of 50,000 units.
I never said I’m a billionaire— Ex-Anambra CP
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MURIC Urges Security Agencies to Protect JAMB Candidates, Exam Centres Nationwide
MURIC Urges Security Agencies to Protect JAMB Candidates, Exam Centres Nationwide
The Muslim Rights Concern (MURIC) has called on security agencies in Nigeria to ensure maximum protection for candidates and officials participating in the forthcoming Joint Admissions and Matriculation Board (JAMB) examinations scheduled to begin on April 16, 2026.
In a press statement issued on Tuesday, April 14, 2026, the Islamic human rights organisation stressed the need for heightened security measures across all examination centres nationwide, citing growing insecurity in several parts of the country.
The statement, signed by the Executive Director of MURIC, Professor Ishaq Akintola, urged the Nigeria Police Force, the Nigerian Army, and the Nigeria Security and Civil Defence Corps (NSCDC) to collaborate effectively in safeguarding candidates and examination personnel throughout the examination period.
According to the group, the appeal became necessary due to rising security concerns in parts of northern Nigeria, where banditry, communal tensions, and violent attacks have continued to threaten public safety.
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MURIC specifically raised concerns about states such as Plateau, Borno, Katsina, Sokoto, and Kwara, warning that some of these areas remain vulnerable to attacks and mass abductions, particularly targeting young students and examination candidates.
The organisation warned that candidates travelling to and from examination centres could be at risk in volatile locations and called for “special attention” to ensure their safety before, during, and after the examinations.
It further urged security agencies to remain vigilant, noting that “eternal vigilance is the price of freedom,” and emphasised the need for proactive intelligence gathering and rapid response mechanisms to prevent any disruption of the exercise.
MURIC also highlighted the importance of securing examination venues themselves, stressing that any attack on candidates or officials would have far-reaching consequences on education and national development.
The group reiterated its commitment to advocating for peaceful coexistence and safety for all citizens, especially young Nigerians pursuing education.
The JAMB examination, conducted annually by the Joint Admissions and Matriculation Board, is a critical gateway for admission into tertiary institutions across the country, with hundreds of thousands of candidates expected to participate nationwide.
Security agencies are yet to issue a formal response to the appeal, but authorities have previously assured Nigerians of adequate protection during national examinations and other major public exercises.
MURIC Urges Security Agencies to Protect JAMB Candidates, Exam Centres Nationwide
News
Lafarge Convicted of Terrorism Financing by French Court in Landmark Case
Lafarge Convicted of Terrorism Financing by French Court in Landmark Case
A French court in Paris has found cement manufacturer Lafarge guilty of financing armed extremist groups during the Syrian civil war, in a landmark ruling that could reshape global standards on corporate responsibility in conflict zones.
The court ruled that the company’s Syrian subsidiary made payments to armed groups, including ISIS and the Nusra Front, between 2013 and 2014, in a bid to keep its cement plant in northern Syria operational during intense fighting.
The judgment also convicted eight former Lafarge employees, including senior executives, for authorising and facilitating the transactions, marking one of the most significant cases of terrorism financing in corporate operations ever handled in France.
According to the court, the payments amounted to approximately $6.5 million, allegedly used to secure safe passage for staff, maintain supply routes, and purchase materials from areas controlled by armed factions.
Presiding judge Isabelle Prévost-Desprez said the arrangement effectively created a “commercial relationship with armed groups,” stressing that economic survival was prioritised over legal and ethical obligations in a war environment.
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The case focused on Lafarge’s Jalabiya cement plant in northern Syria, acquired in 2008 and operating shortly before the outbreak of the Syrian civil war. Investigators told the court that funds were also used to ensure the movement of employees through territories controlled by militant groups.
The ruling has been described by legal experts as a historic precedent in corporate terrorism financing law, as it is among the first instances in France where a multinational company has been convicted for directly funding armed extremist organisations.
The court also examined Lafarge’s operational structure following its 2015 merger into Holcim, which has not yet issued a detailed response to the ruling.
Prosecutors had earlier sought financial penalties and asset confiscation, but the court has yet to announce the final sentence and full penalties in the case.
The verdict follows related proceedings in the United States, where Lafarge previously admitted that its Syrian subsidiary made improper payments to armed groups and agreed to a large financial settlement in a separate investigation.
Analysts say the ruling could have far-reaching consequences for multinational companies operating in high-risk conflict zones, forcing stronger compliance systems, stricter oversight, and tighter controls to prevent indirect funding of armed groups.
The case is widely seen as a turning point in global corporate accountability, highlighting the legal risks companies face when continuing operations in war-torn regions where militant groups exert territorial control.
Lafarge Convicted of Terrorism Financing by French Court in Landmark Case
News
Tinubu Declares End to “Broken Revenue System”, Unveils New Economic Reforms
Tinubu Declares End to “Broken Revenue System”, Unveils New Economic Reforms
President Bola Ahmed Tinubu has declared that Nigeria has entered a new phase of economic transformation, insisting that the country will no longer operate a “broken, inefficient and unfair revenue system” as his administration intensifies fiscal and tax reforms.
Tinubu made the remarks in Abuja during the commissioning of the Nigerian Revenue Service (NRS) headquarters, where he reaffirmed that ongoing reforms are aimed at strengthening Nigeria’s tax system, improving revenue generation, and restoring public confidence in governance.
He described the reforms as a “covenant with Nigerians,” stressing that they are not political rhetoric but a deliberate effort to rebuild the country’s economic foundations and ensure long-term stability.
According to him, Nigeria is gradually transitioning “from uncertainty to renewed hope” through structural reforms designed to improve efficiency, fairness, and transparency in revenue administration.
The President emphasized that no country can achieve sustainable development with a weak fiscal structure, adding that his administration deliberately embarked on overhauling the system to eliminate leakages, improve compliance, and ensure that national revenue is effectively deployed for development.
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“No nation achieves lasting prosperity on a weak and fragmented revenue system,” Tinubu said, adding that government must earn public trust through a fair and transparent tax structure.
He noted that the reforms are focused on simplifying tax processes, reducing distortions, and creating a more investment-friendly environment that encourages both local and foreign investors.
Tinubu also highlighted early signs of progress, pointing to improvements in fiscal stability, stronger reserves, and increased investor confidence as indicators that the reforms are beginning to yield results.
He attributed these gains to what he called “deliberate policy choices and national discipline,” insisting that the government remains committed to long-term structural changes rather than short-term economic fixes.
The President described the newly commissioned NRS headquarters as a symbol of institutional renewal and administrative efficiency, noting that it represents more than just a physical structure.
“This building is more than concrete and steel. It is a symbol of professionalism, transparency, efficiency and service delivery,” he said.
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Tinubu also tasked the Nigerian Revenue Service with evolving beyond revenue collection into a trust-building institution that reflects accountability and fairness in its operations. He stressed that taxpayers must see clear value for their contributions through improved public services and national development.
“The Nigerian Revenue Service must not only collect revenue, it must build trust,” he said, adding that institutions must demonstrate integrity and responsiveness to citizens.
He further acknowledged the challenges associated with economic reforms, noting that while such policies may cause short-term hardship, they are necessary for long-term prosperity and national stability.
Tinubu urged Nigerians to remain patient and supportive of ongoing reforms, saying sustainable development requires shared sacrifice and collective commitment.
The President also reiterated that Nigeria’s future depends on deliberate policy choices and strong institutions capable of driving inclusive growth and global competitiveness.
“We have chosen reform, we have chosen discipline, we have chosen progress,” he said. “We will stay the course until the promise of Nigeria is matched by the performance of its institutions.”
The commissioning of the NRS headquarters marks a key milestone in the federal government’s broader economic reforms in Nigeria, particularly in tax administration and public finance management, as authorities push to diversify revenue sources beyond oil dependence.
Tinubu Declares End to “Broken Revenue System”, Unveils New Economic Reforms
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