News
N89tn stamp duty biggest Nigeria’s financial scam – Sowore
- Cartel, NIPOST workers embezzle stamp duty funds – Garba Shehu
Pro-democracy campaigner and presidential candidate of the African Action Alliance, Omoyele Sowore, has accused Attorney-General of the Federation and Minister of Justice, Abubakar Malami, and the Central Bank Governor, Godwin Emefiele, of colluding to cover up N89.09tn stamp duty alleged scam.
Sowore, who spoke on Tuesday described the stamp duty issue as “monumental corruption” and Nigeria’s biggest financial scam.
A member of the House of Representatives from Jigawa, Gudaji Kazaure, had in a video that had gone viral, accused Emefiele of attempts to cover up facts surrounding the collection of the controversial N89.09 trillion Stamp Duty funds.
The lawmaker further alleged that he was deliberately being denied access to present a preliminary report of a committee set up by President Muhammadu Buhari to look into the alleged stamp duty funds being withheld by the CBN led by Emefiele.
Kazaure also appealed to President Buhari to either allow him to present his report to him or immediately order a thorough investigation of the alleged stamp duty funds fraud.
However, the presidency through the Senior Special Assistant on Media and Publicity to President Buhari, Malam Garba Shehu, described Kazaure’s committee as illegal which was dissolved on the directive of Mr President.
Shehu said, “he entire net worth of the nation’s financial sector, the assets of the banking sector put together are not worth N50 trillion, not to talk of the kind of money he is talking about.”
In his reaction, Sowore listed five national focal financial problems the alleged diverted N89.09tn Stamp Duty funds could solve, adding that it was unfortunate that many Nigerian media and most Nigerians kept mute over the matter.
This was despite Kazaure’s revelation that the Department of State Services arrested the CBN governor but granted him bail after claiming he had heart issues.
“The Stamp Duty Scam is likely Nigeria’s biggest financial scam in recent times. It was perpetrated by the Central Bank Governor, Godwin Emefiele ,and President Muhammadu Buhari and his cronies,” said Sowore.
Cartel, NIPOST workers embezzle stamp duty funds – Garba Shehu
Meanwhile, the Presidency has alleged that a cartel colluded with some staff of the Nigerian Postal Service (NIPOST), to embezzle money realised from Stamp Duty.
Senior Special Assistant to the President on Media and Publicity, Garba Shehu, made the allegation on Tuesday, in a response to the challenge thrown at him by a member of the House of Representatives, Muhammadu Gudaji Kazaure.
Kazaure alleged that N89 trillion collected as Stamp Duty had gone missing.
The lawmaker also claimed that President Muhammadu Buhari constituted a committee, with him as secretary, to recover the missing fund.
But Shehu, in a statement issued Tuesday, noted that President Buhari disbanded the committee because of lack of progress in its assignment.
He said on assumption of office in 2015, the President had noticed an anomaly in the law which mandates the collection of a token on banking transactions and attempted to rectify it.
Shehu said the cartel that had been prevented from stealing the collection, came back in the form of consultants to recover the Stamp Duty.
The statement read, “President Muhammadu Buhari came into office in 2015 to find that a law, which stipulated for the collection of a token on banking transactions existed but was not being correctly implemented
“This anomaly arose because certain characters apparently formed a cartel with collaborators in the Nigerian Postal Service, NIPOST and were allegedly collecting and pocketing this money.
“Soon after, a non-government organisation posited to the administration that the Nigerian government had lost the sum of over N20 trillion to the Nigerian Inter-bank Settlement System (NIBSS) between 2013-2016 in this regard, claiming that the said sum could be recovered and paid back into the government coffers.
“The consultants asked to be paid a professional fee of 7.5 percent and were placed under the supervision of the Secretary to the Government of the Federation, SGF.
“Following the lack of progress in the promised recovery, the late Chief of Staff to the President, Abba Kyari, wrote on March 8, 2018, to the SGF conveying a presidential directive that following the lack of progress and several expressed concerns received, the activities of the consultants be discontinued.
“In the aftermath of this dismissal, the consultants sued the government.
“A court of competent jurisdiction subsequently ruled in favour of the government.
“Arising from the outcome of the litigation and the well known controversy on the legally responsible agent for collecting this levy, the administration went to the National Assembly and caused an amendment to the law and removed NIPOST from the duty of its collection.
“Having lost a potentially “lucrative” line of “business”, the sacked characters returned to the drawing board to formulate one form of trick or another to intimidate the government, but the vigilant teams of the administration kept them at bay.
“Lately, they returned to the government through Hon. Muhammadu Gudaji Kazaure with a plan to track the so-called lost stamp duties with the erstwhile consultant as chairman and Hon. Gudaji as secretary.
“When it emerged that the petitioner and lead consultant of the committee the President had dissolved via the late Abba Kyari’s letter of March 28 had masqueraded himself and re-emerged as the chairman of the new recovery committee championed by the Hon. Gudaji, the President rescinded the approval he gave and asked that it be stopped from operating under the seal of his office.
“In addition to this committee being chaired by a petitioner, there were also other concerns relating to natural justice and fair hearing in having the Chief Justice of the Federation as a committee member and a serving member of the House of Representatives as Secretary, which are not in line with Section 5(1),(a)&(b) of the 1999 constitution of the Federal Republic of Nigeria (as amended).
“Once the President rescinded his approval to constitute this Committee, lost all legitimacy.
“Arguments have in recent days been flying left and right over the rightfulness of a committee being dissolved.
“People are entitled to hold opinions. But these opinions do not change the fact that under our constitution, the power of the president to appoint and remove persons or groups is duly entrenched and unless such powers are shared with the Parliament, the President can hire and fire literally at will, and in line with the law.
“To go back to the main issue though, it is now evident that the consultants and petitioners’ claims of a missing N89 trillion from stamp duty appears false and a figment of their malicious imaginations.
“The same set of consultants claimed in 2016 there was N20 trillion to be collected. It was found to be false. The entire banking sector deposit is not even up to half of N89 trillion.
“Indeed, if the Federal Government can find N89 trillion, it can pay off all its debt, both foreign and local currency and all state government debts and still have over N10 trillion left.
“So, the claim by these so-called consultants and the disbanded committee is totally ridiculous and a complete mockery.
“Our good friend and a committed party member, Hon Gudaji, has tried to draw me into a public debate which I don’t consider a good idea.
“In a video clip in Hausa and a press release in English both by this good friend of the administration, Hon. Gudaji Kazaure invited me to answer questions, some of which are completely lacking in imagination.
“I would have ignored the allegations therein. Yet, a wise man once said that a lie can travel the world, while the truth is still wearing his shoes.
“It is on the basis of the above that I decided to put some things straight and respond directly to Hon. Kazaure’s questions posed to me.
“Specifically, I will respond to each of his questions as follows:
(A) The money with CBN I & E window Account stood at $171 billion dollars as at 2020 what is the source of that money?”
To my knowledge, the CBN-established Investors and Exporters (I&E) Window is a foreign exchange trading platform where banks and other authorized dealers can buy or sell foreign exchange. These trades are recorded by the CBN daily and reported as turnover or activity in the market.
Contrary to Hon. Kazaure’s assertion, the I&E window is NOT an “account” where foreign exchange is deposited. It is simply a platform for trading foreign exchange. As of April 2020, the total amount of foreign exchange traded (either bought or sold) in the window was about $171 billion. The size of this amount suggests that there is adequate liquidity or availability of foreign exchange and that anyone who wants to buy or sell would easily find a counterparty to trade with. The amount does not mean that we have $171 billion stacked away in some vault or saved in any account.
Note that both the CBN and authorised dealers are free to bring foreign exchange to the window, and in fact, the CBN is not the major seller of Foreign Exchange in that segment of the market.
(B) “The N23.4 trillion CBN gave as a loan to some banks, what is the source of that money?”
The CBN is best placed to respond to this question though I must say the assertion itself is both baseless and misleading. The total balance sheet of the CBN is not anywhere near N23 trillion. So how can it give such an amount in loans to any or some banks?
(C) The N13 trillion loan to the federal government from FMDQ, what is the source of that?”
According to the DMO, the total amount of Nigeria’s domestic debt as of September 2022 is N21.6 trillion. Is Hon. Kazaure suggesting that a small company in Lagos holds over 60 percent of Nigeria’s domestic debt? More also, of the N21.6 trillion domestic debt, only N4.5 trillion are in Treasury Bills? How then can a company in Lagos hold more treasury bills (N13 trillion) than the entire treasury bills issued by the Federal Government? For the avoidance of doubt, I also took time to reach out to the FMDQ ( Financial Markets Derivative Quotes) and understand from their audited financial statements that their holdings of FGN Treasury bills is just N7.99 billion as of December 2021.
(D) Finally, what is the total equity of CBN and its National budget?”
Anyone who understands this question should provide an answer. I can offer this information: on an annual basis and in line with the Fiscal Responsibility Act, the CBN transfers 80 percent of its operating surplus to the Federal Government as part of the budget revenues. In the last 6 years, this contribution has amounted to over N150 billion.
Let me inform you that Mr President has not completely ignored these matters. Indeed, a duly authorised committee under the Attorney-General and Minister of Justice, Abubakar Malami (SAN), is working to reconcile, recover and transfer all Stamp Duties into Stamp Duties Central Account.
The work is ongoing, it is not finished yet and the President will continue to show his keen interest in the matter of Stamp Duty collection.
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News
MURIC Warns FG: Any Move Against Atiku Now Lacks Tact
MURIC Warns FG: Any Move Against Atiku Now Lacks Tact
The Muslim Rights Concern (MURIC) has warned the Federal Government against any move to arrest, interrogate or otherwise take action against former Vice-President Atiku Abubakar over a fresh petition before the Economic and Financial Crimes Commission, saying such a step at this time could send the wrong signal to Nigerians.
The warning came as the controversy over a renewed call for the EFCC to investigate allegations dating back to Atiku’s tenure as Vice-President intensified, with opposition figures and the petitioner trading sharply different arguments over the matter.
In a statement issued on Tuesday, September 22, 2026, MURIC Founder and Executive Director, Professor Ishaq Akintola, said the government should exercise caution, particularly with the 2027 general elections approaching.
According to MURIC, the renewed allegations have assumed greater sensitivity because Atiku is now the presidential candidate of the African Democratic Congress and a leading opposition figure.
“We warn that such an attempt at this point in time will send the wrong signal to Nigerians,” the group said, adding that with the 2027 elections “at the doorsteps,” the Federal Government should carefully consider the consequences of any action against the former Vice-President.
MURIC described any such move as lacking tact and “short” of emotional intelligence, while urging the government to avoid conduct that could create the impression that state institutions were being used against political opponents.
The organisation also warned against what it described as a damaging “body language” capable of portraying Nigeria as a “banana republic.”
MURIC said that although the country had already lost some ethical ground, its democratic values and norms remained important safeguards that should not be compromised.
“Our corporate image in the global community is sinking fast,” the group added.
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The statement followed renewed controversy over a petition by former House of Representatives member, Ehiozuwa Agbonayinma, asking the EFCC to revisit allegations concerning Atiku’s activities while he was Vice-President.
Reports indicate that the petition relates to allegations investigated by the EFCC between 2005 and 2006. Agbonayinma reportedly gave the anti-graft agency a 14-day ultimatum to act and threatened legal action if the commission failed to respond.
Former Senator Dino Melaye has strongly opposed the renewed petition, describing it as an attempt to “resurrect the dead.” Melaye argued that the matter had previously been dealt with and questioned the basis for bringing it back almost two decades later.
The dispute, however, has escalated beyond the original petition, with Agbonayinma hitting back at Melaye and challenging him to produce documentary evidence for his claim that the allegations had been investigated and dismissed.
In a statement reported on September 20, Agbonayinma insisted that he was asking the EFCC to perform its statutory responsibility and argued that the substance of the allegations should be addressed rather than his personality or political affiliation.
“You cannot defend Atiku Abubakar from an EFCC petition by attacking me,” Agbonayinma was quoted as saying, while urging the anti-graft agency to determine whether the allegations warranted further investigation.
The renewed controversy has also brought attention to the distinction between a petition seeking investigation and a finding of criminal guilt. The existence of a petition does not, by itself, establish that the person named in it committed an offence.
There is also a historical legal dimension to the allegations. Reports on the previous proceedings state that a Lagos State High Court set aside an EFCC administrative indictment against Atiku in December 2006, while no criminal conviction against him resulted from the allegations.
Atiku has continued to deny wrongdoing and has challenged anyone with credible evidence against him to present it through the appropriate legal channels.
Meanwhile, there was no confirmed announcement from the EFCC, as of the latest reports reviewed, that it had arrested Atiku or formally invited him over the fresh petition. A separate and more recent EFCC investigation reported on September 20 concerns individuals connected to allegations surrounding the Mambilla Power Project, which is distinct from the 2005–2006 allegations at the centre of the present political dispute.
The MURIC intervention has therefore added a fresh dimension to an increasingly heated political controversy, with the organisation urging the Federal Government to exercise restraint and protect public confidence in Nigeria’s democratic institutions.
With the 2027 elections approaching, the dispute over the renewed EFCC petition is expected to remain a significant political issue, particularly if the anti-graft agency decides to take further steps.
For MURIC, however, the timing of any action is crucial. The organisation wants the Federal Government to ensure that whatever steps are taken by law-enforcement agencies are grounded in due process and do not create the perception of political persecution.
The group’s central warning is that Nigeria must guard its democratic reputation and avoid actions that could further erode public confidence in its institutions at a particularly sensitive period in the nation’s political calendar.
MURIC Warns FG: Any Move Against Atiku Now Lacks Tact
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News
NiMet Predicts Thunderstorms, Rain Across Nigeria Till Wednesday
NiMet Predicts Thunderstorms, Rain Across Nigeria Till Wednesday
The Nigerian Meteorological Agency (NiMet) has predicted thunderstorms and rainfall across several parts of Nigeria from Monday to Wednesday.
The agency, in its weather outlook released on Sunday, also warned that strong winds could occur ahead of thunderstorms in some areas.
For Monday, NiMet expects thunderstorms and light rain over parts of Taraba and Kebbi during the morning. Later in the day, moderate rainfall is expected across several areas in the North-East, Kaduna, Taraba and Kebbi.
In the North-Central region, parts of Niger State could experience thunderstorms and light rain in the morning, while most parts of the region may record thunderstorms with moderate rainfall by afternoon or evening.
The southern states are also expected to experience wet conditions. NiMet forecasts cloudy skies in the morning, with isolated thunderstorms and light rain over parts of Bayelsa, Rivers, Akwa Ibom and Cross River. More thunderstorms and light rain are expected later in the day.
Tuesday and Wednesday Forecast
On Tuesday, the northern region is expected to have patches of cloud in the morning, with thunderstorms and light rain possible in parts of Taraba.
By afternoon or evening, most parts of the region could experience thunderstorms accompanied by moderate rain.
In the North-Central, parts of the Federal Capital Territory, Niger, Nasarawa and Plateau states are expected to receive thunderstorms and moderate rainfall later in the day.
Southern areas, including parts of Ebonyi, Enugu, Abia and the South-South, may also experience thunderstorms and light rain.
NiMet expects more widespread rainfall on Wednesday, particularly across northern and North-Central states. Borno, Bauchi, Gombe, Kaduna, Adamawa and Taraba are among the areas listed for morning thunderstorms and moderate rain.
The agency also forecasts thunderstorms and moderate rainfall across much of the South later on Wednesday.
NiMet advised residents to secure loose objects and take precautions against strong winds. Motorists were urged to avoid driving during heavy rainfall, while residents were advised to disconnect electrical appliances during thunderstorms and stay away from tall trees.
Airline operators were also advised to obtain airport-specific weather information when planning flights.
NiMet Predicts Thunderstorms, Rain Across Nigeria Till Wednesday
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Working People United Celebrates Oluremi Tinubu at 66, Commends Her Humanitarian Efforts
Working People United Celebrates Oluremi Tinubu at 66, Commends Her Humanitarian Efforts
Civic organisation Working People United has congratulated Nigeria’s First Lady, Senator Oluremi Tinubu, on her 66th birthday, praising her contributions to humanitarian services, education, healthcare and the empowerment of vulnerable Nigerians.
Oluremi Tinubu celebrates her 66th birthday on Monday, September 21, 2026, with messages of goodwill coming from individuals and organisations across the country.
In a congratulatory message issued on Sunday, National Coordinator-General of Working People United, Prince Williams Akporeha, described the First Lady’s years of public service as an important part of her contribution to Nigerian society.
Akporeha said the organisation recognised Oluremi Tinubu’s continued involvement in programmes designed to improve the welfare of children, women, young people and underserved communities.
He particularly highlighted her advocacy and interventions in education, healthcare access, youth development and economic empowerment, saying such initiatives were directed at addressing challenges faced by ordinary Nigerians.
According to the group, the First Lady’s humanitarian activities have focused on providing practical support to communities and creating opportunities for people who might otherwise have limited access to social and economic resources.
Working People United also commended Oluremi Tinubu’s interest in family welfare and children’s development, describing those areas as important to the long-term development of the country.
The organisation said efforts to strengthen access to basic education and healthcare, particularly at the grassroots, remained critical to improving the quality of life of Nigerians.
It also praised initiatives aimed at providing young people with skills and economic opportunities, noting that youth empowerment could help reduce vulnerability and expand participation in the economy.
Akporeha urged the First Lady to sustain her advocacy for vulnerable Nigerians as she begins another year of her life.
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He said the organisation was joining Nigerians across the country to celebrate Oluremi Tinubu and acknowledge what it described as her commitment to humanitarian service.
Working People United wished the First Lady good health, wisdom, strength and fulfilment as she continues her public responsibilities and supports initiatives focused on the welfare of Nigerians.
The group also expressed hope that her birthday would provide an opportunity to renew attention to issues affecting children, women, young people and low-income families, particularly in education, healthcare and economic empowerment.
Oluremi Tinubu, a former senator representing Lagos Central Senatorial District, has been involved in public service and humanitarian activities for several years.
As First Lady, she has continued her intervention programmes through the Renewed Hope Initiative (RHI), which has focused on areas including education, health, agriculture, social investment and economic empowerment.
Her recent programmes have included support for women, vulnerable households, students, farmers, young people and families affected by economic hardship.
The birthday messages therefore come as the First Lady continues her public engagements and humanitarian programmes across different parts of Nigeria.
Working People United Celebrates Oluremi Tinubu at 66, Commends Her Humanitarian Efforts
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