Press Release

NNPC Probe: EFCC Secures Final Forfeiture of Private Jet

Published

6 months ago

May 18, 2026

The Economic and Financial Crimes Commission (EFCC), on Monday, May 18, 2026, secured a final forfeiture order for a Hawker 800XP private jet before Justice Emeka Nwite of the Federal High Court, Maitama, Abuja, over its alleged links to fraud, corruption, and money laundering connected to the Maiduguri Emergency Power Project (MEPP).

The aircraft, with model number 800XP, serial number 258553, and registration number 5N-AMK, was forfeited following an application by the EFCC.

Ruling on the application, Justice Nwite held that Valiente Jet Limited, a company owned by Abdulsalam Mustapha Kachallah, an interested party in the matter, failed to show sufficient cause why the aircraft should not be finally forfeited to the Federal Government.

“The interested party has not demonstrated with evidence the lawful origin of the funds used to purchase the aircraft,” the judge held, stressing that the disguised manner through which the aircraft was acquired, using the name of a Bureau De Change operator who denied knowledge of the nature of the transaction, further lent credence to the unlawfulness of the entire transaction.

The court had earlier granted an interim forfeiture order on November 13, 2025, and directed the Commission to publish the order in a national newspaper for interested parties to show cause why the aircraft should not be permanently forfeited.

Following the publication, Valiente Limited, owned by Alhaji Abdulsalam Mustapha Kachallah, filed affidavits to show cause. The application for final forfeiture was supported by an affidavit deposed to by Aminu Abdullahi, an investigator with the EFCC.

According to the investigator, the Commission received intelligence bordering on conspiracy, obtaining money by false pretence, and money laundering involving Kachallah.

Investigations revealed that sometime in 2021, the Nigerian National Petroleum Company Limited (NNPCL) awarded contracts under the Maiduguri Emergency Power Project valued at $114,148,155 (One Hundred and Fourteen Million, One Hundred and Forty-Eight Thousand, One Hundred and Fifty-Five Dollars) and ₦23,172,969,904 (Twenty-Three Billion, One Hundred and Seventy-Two Million, Nine Hundred and Sixty-Nine Thousand, Nine Hundred and Four Naira).

Kachallah, who was then Chairman of the Borno State Rural Electrification Board and a member of the project’s steering committee, allegedly used his position and relationship with officials of the NNPCL to engage in illicit dealings connected to the project.

Investigations showed that Kachallah entered into unlawful agreements with China Machinery Engineering Company (CMEC), through companies in which he had substantial interests, and sold privileged bidding information relating to the project in exchange for financial inducements.

The investigation further showed that CMEC was subsequently awarded three contracts under the project valued at $52,120,172 (Fifty-Two Million, One Hundred and Twenty Thousand, One Hundred and Seventy-Two Dollars) and ₦20,213,956,953 (Twenty Billion, Two Hundred and Thirteen Million, Nine Hundred and Fifty-Six Thousand, Nine Hundred and Fifty-Three Naira).

Part of the contract funds was routed through Afuwa Integrated Services Limited, a Bureau De Change operator, under the false claim that the company had been subcontracted by CMEC.

CMEC transferred the sum of $2,070,000 (Two Million, Seventy Thousand Dollars) into the Stanbic IBTC Bank account of Afuwa Integrated Services Limited on Kachallah’s instruction.

Investigations further revealed that forged invoices were prepared in the name of Afuwa Integrated Services Limited to falsely portray that legitimate services had been rendered to CMEC.

The funds were thereafter transferred to a Brazilian account for the purchase of the aircraft from a Brazilian company.

Kachallah allegedly used Afuwa Integrated Services Limited to acquire the aircraft before forging documents to transfer ownership to Valiente Jet Limited, a company linked to him.

Although Kachallah opposed the application, claiming that payments made by CMEC into the bank account of Afuwa Integrated Services Limited were based on a contract his company entered into with CMEC to facilitate the award of the contract under the MEPP and to provide consultancy services, the EFCC disputed the claim.

The matter was argued by the parties on April 30, 2026. The EFCC, represented by Iheanacho Ekele, SAN, and O.S. Ujam, argued that Kachallah’s actions violated Sections 8, 10, and 53 of the ICPC Act, as well as the Money Laundering (Prevention and Prohibition) Act, adding that evidence showed Kachallah was a public officer appointed by the Borno State Government.

Kachallah, represented by M.E. Oru, SAN, maintained that he was separate from the companies that entered into the agreements and argued that some of the exhibits attached to the EFCC’s affidavit were inadmissible.

The submission was rebutted by Iheanacho, who cited several judicial authorities to argue that in cases of fraud or illegality, the law permits the lifting of the corporate veil to identify the individuals behind companies. He relied on the case of Oyebanji v. State.

He also argued that the documents attached to the affidavit did not require further certification, relying on the authorities of Aondoakaa v. Obot & Anor and Musa v. Jika.

In a well-considered judgment, Justice Nwite, having been satisfied with the evidence placed before the court, granted the final forfeiture of the aircraft to the Federal Government of Nigeria.

Dele Oyewale
Head, Media & Publicity
May 18, 2026

Press Release

Zenith Bank Reinforces Commitment To Africa’s Creative Economy Through Continued Sponsorship Of Art X Lagos 2026

Published

4 hours ago

November 2, 2026

Staff Editor

Building on its support for ART X Lagos’ landmark tenth anniversary, the Bank continues its partnership with the fair, championing African artistic excellence, cultural heritage and emerging creative talent.

Zenith Bank Plc has reaffirmed its commitment to advancing Nigeria’s creative and cultural landscape through its continued sponsorship of ART X Lagos 2026, taking place from November 5-8, 2026, at Federal Palace, Lagos.

Building on its support for the fair’s landmark tenth-anniversary edition in 2025, the Bank returns as a Silver Sponsor for the 11th edition, reinforcing its commitment to platforms that celebrate African artistic excellence, preserve cultural heritage and create opportunities for emerging creative talent.

Founded by Tokini Peterside-Schwebig in 2016, ART X Lagos is a leading international cultural platform dedicated to showcasing contemporary art from Africa and its diaspora. Through its multidisciplinary programming, the fair has become an important platform for connecting artists, galleries, collectors and cultural institutions while promoting African creativity on the global stage. Since its inception, ART X Lagos has brought together artists and galleries from over 70 countries, welcoming participants from 170 nations worldwide.

The 11^th edition of ART X Lagos will hold under the theme: A New Chapter, A New Decade, reflecting on the artists, architects, educators and thinkers who shaped modernism in Nigeria. The theme explores how cultural inheritance can inspire new forms of artistic expression and possibilities for the future.

Through its sponsorship, Zenith Bank supports the continued growth of ART X Lagos as an international platform for artistic exchange, cultural preservation and creative enterprise, strengthening connections across Africa’s creative ecosystem and fostering opportunities for growth and collaboration.

As part of its broader sponsorship of ART X Lagos 2026, Zenith Bank will support two key programmes: ART X ICON and The Masterclass. While ART X ICON celebrates the achievements and enduring contributions of Nigeria’s artistic pioneers, The Masterclass creates opportunities for emerging creatives to learn, engage and develop their practice.

In this 11^th edition, the focus of ART X ICON is turned to pioneering Nigerian potter Ladi Dosei Kwali (1925–1984) with Ladi Kwali: Beyond the Vessel, conceived and developed by curator Dr Jareh Das.

Widely recognised as the face on Nigeria’s 20-naira note, Ladi Kwali is celebrated for her extraordinary contribution to Nigerian ceramics and her role in bringing traditional Nigerian pottery to international prominence. Drawing on generations of indigenous pottery knowledge, she developed a distinctive artistic practice that earned her international recognition.

Bringing together ceramics and archival materials from the National Museum in Lagos, alongside works from private lenders, Ladi Kwali: Beyond the Vessel offers a deeper exploration of the artist’s life, practice and enduring influence.

The exhibition will also feature works by women potters who worked alongside and after Kwali, including Kande Ushafa and Asibi Ido, as well as traditional pottery by Gbari, Nupe and Bida potters. Together, these works illuminate the artistic traditions Kwali inherited, the innovations she introduced, and the knowledge carried forward by subsequent generations.

Complementing ART X ICON, The Masterclass will place emerging artists in dialogue with Ladi Kwali’s legacy, creating an opportunity to explore the relationship between traditional artistic knowledge and contemporary creative practice.

The programme will select 10 emerging artists from across disciplines including painting, sculpture, photography, film, textiles, digital practice, performance and ceramics, providing opportunities for intimate conversations and meaningful engagement with established creative practitioners.

Speaking on the partnership, Dame Dr. Adaora Umeoji, OON, Group Managing Director/CEO, Zenith Bank Plc, commented:

“At Zenith Bank, we recognise that the growth of the creative economy requires both the preservation of our cultural heritage and sustained investment in the talents shaping its future. Our continued partnership with ART X Lagos reflects our belief in the importance of supporting platforms that celebrate African artistic excellence, strengthen cultural institutions and create opportunities for emerging creatives. We remain committed to supporting initiatives that unlock the economic and cultural value of Nigeria’s creative industry and enable African creativity to gain even greater recognition on the global stage.”

Tokini Peterside-Schwebig, Founder and Director of ART X Lagos, said:

“As ART X Lagos enters its second decade, we are immensely grateful for the continued partnership of sponsors such as Zenith Bank, whose support reflects a shared commitment to advancing Nigeria’s creative and cultural landscape. Partnerships like this are instrumental in sustaining our vision, deepening our impact and creating lasting opportunities for African creativity to thrive on a global scale.”

Beyond ART X ICON and The Masterclass, ART X Lagos 2026 will feature 15 exhibitors across its Main and Spotlight sections, alongside a diverse programme of Special Projects, including Ndidi Dike’s Residues of Past Encounters: 2024–2026, The ART X Library and Speakers’ Corner.

The fair’s wider multidisciplinary programme will also feature ART X Cinema, ART X Live!, ART X Talks, Art Across Borders and the Schools’ Programme, celebrating the breadth and diversity of contemporary creativity from Africa and its diaspora.

ART X Lagos 2026 takes place from 5–8 November 2026 at Federal Palace, Victoria Island, Lagos.

About Zenith Bank Plc
Zenith Bank Plc is a multinational financial services institution headquartered in Lagos, Nigeria. Founded in 1990 by Jim Ovia, CFR, it is one of Africa’s foremost financial institutions with a shareholders’ fund of ₦4.92 trillion (2025) and a footprint spanning Nigeria, Ghana, Sierra Leone, The Gambia, Côte d’Ivoire, Kenya, the UK, France, UAE and China. The Bank has built a reputation for innovation, customer-centricity and excellence in financial services. It offers comprehensive retail, commercial and corporate banking solutions, supported by advanced digital platforms and an extensive physical network. Zenith Bank drives financial inclusion and sustainable development while maintaining strong corporate governance and financial performance. With a clear focus on People, Technology and Service, the Bank is committed to creating value for customers, stakeholders and the wider economy.

About ART X Lagos
ART X Lagos, the leading international art fair in West Africa, was founded by Tokini Peterside-Schwebig in 2016 to celebrate contemporary culture from Africa and its diaspora. Drawing artists and galleries from over 70 countries and visitors from 170 nations, it has played a pivotal role in redefining the African narrative. Its multidisciplinary programming, spanning art, music, literature and film, features initiatives like ART X Live!, ART X Cinema and ART X Talks. From its inaugural edition, ART X Lagos extended an open invitation to cultural curators across Lagos to programme around the fair, sparking the art week and season in Nigeria, an annual highlight of the country’s art scene. ART X Lagos additionally champions emerging talent through programmes such as Resonance, The Masterclass, the ART X Prize and The Development Forum. It serves as a transformative cultural catalyst and a cornerstone of the African art sector today, shaping the future of African art and its global narrative.

Press Release

ZENITH BANK TO LAUNCH MAIDEN GIRL-CHILD EMPOWERMENT PROGRAMME

Published

3 weeks ago

October 10, 2026

Staff Editor

Zenith Bank Plc is set to launch the maiden edition of its Girl-Child Empowerment Programme, an initiative aimed at inspiring young girls to dream boldly, develop the skills and confidence to pursue their aspirations, and prepare for meaningful opportunities in the future.

The event, themed “Banking On Her Tomorrow,” is the brainchild of the Bank’s Group Managing Director/Chief Executive Officer, Dame Dr. Adaora Umeoji, OON, the first female GMD/CEO in Zenith Bank’s history and a strong advocate for girl-child education and empowerment. The event will be held virtually on Monday, October 12, 2026, at 11:00 a.m., a day after the International Day of the Girl Child, observed globally on October 11.

The programme, which will feature an impressive lineup of distinguished experts in various fields, seeks to provide girls with the inspiration, knowledge and practical perspectives needed to navigate their education and careers, while exposing them to opportunities in skills development, mentorship and leadership. As an annual platform, it will encourage girls to recognise their potential, broaden their aspirations and equip themselves to make informed choices about their future.

The initiative builds on Zenith Bank’s longstanding commitment to women and girls, demonstrated through programmes and platforms including the Bank’s annual International Women’s Day Seminar, its sole sponsorship of the Zenith Women’s Basketball League, the Women of Honour Awards in partnership with the Ford Foundation, and the Pad-a-Queen Initiative. These complement the Bank’s women-focused financial solutions, including the Z-Woman initiative, an empowerment programme that supports women-owned and women-led businesses through specialised funding, capacity building and networking. Together, these initiatives reflect the Bank’s broader commitment to supporting women and girls at different stages of their lives, and to contributing meaningfully to national development.

This maiden edition is open to all, with girls, parents, educators and other members of the public invited to participate. Interested participants can register via the link below. Those unable to join via Zoom can follow the live stream on Zenith Bank’s social media platforms.

https://events.zoom.us/ev/AhU2FESLzXuo9VUK0jA1HzBmWCpvvDtRdcYMObih7zgSUjKEyTFs~AlKZVoKpnzFj0-Gs0a5KJNz9_lzYA2oDrpUePQJtAte6EPk4smEHGNT-Lg

EFCC

COPSUN Applauds EFCC on NELFUND

Published

2 months 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.