EFCC

Yahaya Bello: Court Adjourns to Rule on Admissibility of Deed of Assignment, Irrevocable Power of Attorney

Published

7 months ago

March 3, 2026

Justice Emeka Nwite of the Federal High Court, Maitama, Abuja, on Tuesday, March 9, 2026, adjourned to rule on the admissibility of a Deed of Assignment and an Irrevocable Power of Attorney tendered by the Economic and Financial Crimes Commission (EFCC) in the ongoing trial of former Kogi State Governor, Yahaya Adoza Bello.

The judge fixed the date after listening to extensive arguments from counsel over the admissibility of the two documents relating to the sale of Plot 1160, Cadastral Zone, Gwarimpa 2, Abuja, allegedly sold for ₦100 million.

Bello is being prosecuted by the EFCC on a 19-count charge bordering on alleged money laundering to the tune of ₦80,246,470,088.88.

The controversy arose when prosecution counsel, Chukwudi Enebeli, SAN, sought to tender the Deed of Assignment and the Irrevocable Power of Attorney through PW10, Mahmoud Abdulaziz, Chief Accountant of Dantata & Sawoe Construction Limited.

Abdulaziz testified that the company sold the property, measuring 8,240.72 square metres, to Azba Real Estate Limited for ₦100 million. According to him, the payment was made in tranches: ₦70 million on February 17, 2021; ₦10 million on February 19; and ₦20 million on February 22, 2021, via electronic transfers into the company’s Keystone Bank account.

He stated that Maigari Murtala made the transfers, while the Deed of Assignment was executed between Dantata & Sawoe and Azba Real Estate Limited and signed by Mubarak Dantata, Nasiru Dantata and Ali Bello. He further told the court that an Irrevocable Power of Attorney was executed between Mubarak Dantata and Ali Bello, and that the documents were submitted to the EFCC during the investigation.

However, defence counsel, J.B. Daudu, SAN, objected to their admissibility on three grounds.

“My lord, the first document is an irrevocable power of attorney and the second is a deed of assignment in respect of the same land. These are registrable instruments relating to title and ought to have been registered,” he said.

He submitted that only Certified True Copies (CTCs) from the appropriate land registry would be admissible, contending that the EFCC was not the custodian of land documents and that the purported certification by an EFCC official was contrary to Section 114 of the Evidence Act.

“On these three grounds, my lord, these documents are inadmissible,” Daudu maintained.

Responding, Kemi Pinheiro, SAN, described the objection as a misconception of the law.

“The evidence of the witness is unambiguous. He has led oral evidence of the transaction and receipt of money. These documents are being tendered to anchor that oral evidence,” he said.

He stressed that the case was a criminal prosecution for money laundering and not a civil dispute over land title.

“This is about financial crimes and the flow of funds. We are not tendering these documents to prove title or ownership. This court does not have jurisdiction to determine title to land,” he argued.

Pinheiro further submitted that a document inadmissible for one purpose may be admissible for another, and that once a private document is submitted to a public officer during an investigation, it becomes a public document in custody and may be certified.

Citing Audu v. FRN (2025) 5 NWLR (Pt. 1984) 61, he contended that the Supreme Court had settled the issue.

In reply, Daudu insisted that no specific purpose had been clearly stated for tendering the documents other than to juxtapose the names of the payer and the signatory.

“Even if it is to be admitted as a receipt, there must be a consideration clause; otherwise, it is inadmissible,” he argued.

Pinheiro countered that the Deed of Assignment contained a consideration clause and urged the court to admit both documents.

After hearing both sides, Justice Nwite adjourned until March 9, 2026, for a ruling on their admissibility and continuation of the trial.

Earlier in the proceedings, the defence informed the court of a pending application seeking leave to vacate an earlier order granting the defendant permission to travel for lesser Hajj.

Daudu told the court that both parties had filed applications and were engaged in discussions, requesting time to report on the outcome.

“We have advanced in discussions. If my lord can grant us until March 9 just to report on whether this application would be necessary,” he said.

Pinheiro confirmed that discussions had taken place and that the prosecution would respond to issues relating to a Red Notice.

“My lord, I confirm we had discussions. Monday is convenient. We will respond to the application on the Red Notice,” he said, adding that “all the airports in the Middle East are closed.”

Under cross-examination of PW8, an FCMB official, the witness confirmed that Exhibit 37 was the statement of account of Kunfayakun Global Limited from January 1, 2018, to December 31, 2024.

He told the court he was neither the account officer nor the relationship manager and had no direct relationship with the account signatories.

He confirmed a ₦100 million inflow on December 15 from Keyless Nature Limited but said he could not determine the purpose of the transfer.

On a ₦400 million RTGS inflow on December 17, 2021, he explained that RTGS means Real Time Gross Settlement, but maintained he did not know the business relationship between the parties.

Similarly, he confirmed a ₦600 million inflow from Ejadams on February 18, 2022, but said he did not know the purpose of the transaction. He was subsequently discharged.

PW9, Oluwafemi Victoria, a compliance officer with Polaris Bank, testified under subpoena, which was admitted as Exhibit 38, while statements of account and a certificate of identification were admitted as Exhibits 39 and 40.

She confirmed multiple ₦10 million inflows into JIT Limited’s account on November 23 and 24, 2021, from Musa Nura, Yusuf Mubarak and Maishanu Global Industry, totalling ₦150 million.

On SSP Foods Limited’s account, she identified 10 credit entries on November 24, 2021, including ₦70 million from Inganchi Synergy and ₦70 million from Murtala Maigari, among others, amounting to ₦250 million.

Under cross-examination, she stated that she was neither the account officer nor the relationship manager and did not know the business relationships behind the transactions.

The matter continues on March 9, 2026.

EFCC

Alleged $6b Mambilla Power Contract: Tinubu Hails EFCC for FG’s Victory at Arbitration Tribunal

Published

8 hours ago

September 18, 2026

Staff Editor

President Bola Ahmed Tinubu has expressed appreciation to the Economic and Financial Crimes Commission, EFCC, for its investigation of the alleged fraudulent contract award of $6 billion for the construction of 3,960mw Mambilla Hydroelectric Power Station to Sunrise Power and Transmission Company Limited, SPTCL.

The Commission’s investigations were pivotal to the September 17, 2026 victory of the federal government over the contractor company at the International Arbitration Tribunal.

The President in celebration of the federal government’s victory over SPTCL hailed the Commission for its findings in the irregular contract award.

“On behalf of the Government and People of the Federal Republic of Nigeria, I strongly commend the tremendous efforts of the Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi and the entire team at the Federal Ministry of Justice for their efforts in this matter.

“I also commend the FRN defence team, led by Ms Elizabeth Oger-Gross and Mr Tolu Obamuroh, both of Paul Hastings LLP, for their professional and excellent defence of the country.
“I commend the patriotism and support of former President Olusegun Obasanjo, and late President Muhammadu Buhari, who testified in the case, which dated back to an illegal 2003 contract to build a 3,050-megawatt hydroelectric plant in Taraba State under a build-operate-transfer model. The Federal Executive Council never authorised the contract.

“I thank the other witnesses in this case, including former Ministers Babatunde Raji Fashola, SAN, and Suleiman Adamu, and the experts, for their active participation in defending Nigeria’s interest in the arbitration.
“I commend the National Security Adviser for his support and the Economic and Financial Crimes Commission for its investigation into the case.

“I want to assure you that while our country remains committed to partnering with genuine investors and honouring its legal obligations, it will continue to defend all opportunistic claims instituted against our commonwealth, strongly”

“Today’s ICC ruling clears the single biggest legal hurdle that has paralysed the Mambilla hydro power project for years” he said.

The International Arbitration Tribunal under the auspices of the International Chamber of Commerce, ICC, Paris, while ruling in favour of the country, rejected the damages of $680 million demanded by SPTCL as a settlement sum and interest in respect of another arbitration in which it is claiming over $2.7 billion in compensation and interest, relating to disputes associated with the construction of the 3960mw Mambila Hydroelectric Power Project in the arbitration instituted by the company against the federal government.

The former minister of power, Olu Agunloye had on May 22, 2003 awarded the project on a Build, Operate and Transfer Basis” to Sunrise Power and Transmission Company Limited, SPTCL.

Investigations by the EFCC established that the former minister awarded the contract without the approval of the National Executive Council, then chaired by former President Olusegun Obasanjo, making such award inconsistent with federal government’s procedure on award of contracts.

Investigations showed that the award was suffused with favouritism as the owner of the company, Leno Adesanya and the former minister are old time pals, who also in August, 2019 caused SPTCL to transfer the sum of N3,600,000.00 (Three Million Six Hundred Thousand Naira) to the former minister’s Guaranty Trust Bank account no.0022530926.

These non-standard developments surrounding the contract led to its revocation by the former President Muhammadu Buhari’s government and the subsequent prosecution of the minister on a seven-count charge, bordering on fraudulent award of contract and official corruption by the Commission.

Agunloye’s prosecution subsists since Wednesday, January 10, 2024.

He was arraigned before Justice Jude Onwuegbuzie of the Federal Capital Territory High Court, Apo, Abuja,

SPTCL dragged the federal government to the International Arbitration Tribunal, seeking monetary compensation for the contract the Tribunal established it never awarded in the first place.

EFCC

EFCC Hands Over Recovered N140m to Loan Firm in Lagos

Published

10 hours ago

September 18, 2026

Staff Editor

The Economic and Financial Crimes Commission, EFCC, Lagos Zonal Directorate 2, Okotie-Eboh, Ikoyi, Lagos, on Thursday, September 17, 2026, handed over the sum of N140,000,000.00 (One Hundred and Forty Million Naira) to an investment and money-lending company, B4 Sail Limited.

The recovery of the funds, handed over in bank drafts by the Acting Zonal Director, Lagos Zonal Directorate 2, Assistant Commander of the EFCC, ACE I Bawa Usman Kaltungo, followed investigations into an alleged case of obtaining money by false pretence and diversion of funds involving one Jacob Oyebola Esan and companies linked to him.

In a petition submitted on April 20, 2026, B4 Sail Limited alleged that Esan, on behalf of his company, Geo Fields Plc, had approached the company in August 2025 for a N500,000,000.00 (Five Hundred Million Naira) loan facility to boost his business.

The loan facility, according to the petitioner, attracted an interest rate of 15 per cent per month and had a tenor of one month.

Investigation revealed that Esan, who is the first suspect, had previously obtained other loan facilities from the company, bringing his total loan exposure to N1,065,000,000.00 (One Billion, Sixty-Five Million Naira).

It was also revealed that Esan pledged shares held by him as collateral for the facilities through Calyx Securities Limited, the clearing house for the stocks, with the understanding that the shares would be subject to a lien in favour of B4 Sail Limited and that the company would have the first right of payment upon the sale of the shares.

The lien, investigation revealed, was communicated to B4 Sail Limited through a letter signed by the second suspect, Gbolahan Azeez Bello, Managing Director, Calyx Securities Limited.

Further investigation, however, revealed that the shares pledged as collateral had been sold without the knowledge of the petitioner, resulting in the suspect’s alleged default in repaying the facilities.

Consequently, the outstanding loan and accrued interest had risen to N2,250,500,000.00 (Two Billion, Two Hundred and Fifty Million, Five Hundred Thousand Naira).

Speaking during the handover ceremony, Kaltungo stated that the recovery “represents a further step in the Commission’s efforts to ensure that funds and assets recovered in the course of its investigations are appropriately returned to legitimate owners and victims in accordance with due process.

EFCC

COPSUN Applauds EFCC on NELFUND

Published

1 day ago

September 17, 2026

Staff Editor

The Committee of Pro-Chancellors of State-Owned Universities in Nigeria (COPSUN) has commended the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, for his support for the Nigerian Education Loan Fund (NELFUND) and efforts to boost the education sector.

The Chairman of COPSUN, Prof. Ayodeji Omole, gave the commendation in Abuja on Thursday, September 17, 2026, when he led a delegation of the committee on a courtesy visit to the EFCC’s Corporate Headquarters.

Omole said the committee appreciated Olukoyede’s role in supporting NELFUND, noting that the scheme had helped prevent many students from dropping out of school.

He urged Olukoyede to sustain his support for the scheme while also calling for stronger collaboration between the EFCC and state-owned universities.

The COPSUN Chairman said, “We appreciate the EFCC Chairman for the role he has played in NELFUND. As university policymakers, we know what NELFUND has done in the lives of some students who ordinarily would have dropped out of school as a result of financial constraints. We continue to encourage the Executive Chairman and his team to support the scheme.”

He proposed that the Commission establish institutes in universities where some of its activities could be domiciled, stressing that such collaboration would promote knowledge-sharing and research.

Omole added that the EFCC could leverage the expertise of university lecturers in research and other areas, while the partnership could also provide an avenue to educate students on the dangers of corruption.

“We appeal to the Commission to collaborate with our universities. The Executive Chairman cannot fight corruption alone. The Commission needs the support of our lecturers and experts in the universities in areas such as research, among others. The opportunities will also be used to train our students on the dangers of corruption and cybercrime,” he said.

Olukoyede, in his response, thanked the lecturers for their dedication and commitment to upholding standards in state-owned universities.

He stressed the importance of education to national development, noting that depriving a country of a functional education system would undermine its progress and leadership.

Olukoyede said, “When you take the educational sector from a nation, it cannot be developed, and there will be no good leadership, as education gives knowledge.

“We need to discourage the younger ones from doing the wrong things and let them know the consequences. We need to encourage them to channel their skills to add value to themselves. That is what motivated us to develop a Cyber Research Academy. With time, we will incorporate the universities into this structure. The idea is to develop the skills of our younger ones in the areas of ICT and research.”

In August 2026, President Bola Tinubu directed that additional recovered funds from the Commission be diverted to NELFUND to sustain its growing funding obligations.