
News
FG blocks N83bn found in different accounts used in funding protest
…arrests political collaborators
The Federal Government has traced at least N83 billion in cryptocurrency and fiat money channelled towards the recent nationwide protests.
They include $50m of cryptocurrency — $38m of which were blocked in four cryptocurrency wallets — and N4bn contributed by various political actors in Abuja, Kano, Kaduna and Katsina.
This was part of a presentation by the National Security Adviser, Nuhu Ribadu, at the inaugural meeting of the Council of State convened by President Bola Tinubu at the Aso Rock Villa, Abuja.
According to multiple sources with knowledge of Tuesday’s meeting proceedings, Ribadu, who presented on the topic ‘The Nationwide Protest As It Affects National Security,’ also revealed that an European has been identified as the mastermind of the proliferation of foreign flags during the protests and will soon be declared wanted by the Police.
One of the sources, who spoke on condition of anonymity because he was not authorised to speak on the matter, disclosed that local conspirators traced to capital city Abuja, Kaduna and Kano have been arrested.

“In his presentation, the NSA said the government was able to trace $50m to crypto wallets that were made as donations to the protests. They succeeded in blocking four of those wallets containing $38m.
“They also found out that some political actors contributed N4bn to fund the protests,” one of the sources claimed.
On Tuesday President Tinubu convened the Council of State meeting to discuss, among other matters, the recent #EndBadGovernance protests, national security, the economy and food security.
The Council comprises the President (who serves as its chairman), the Vice President, all former Presidents and Heads of State, all former Chief Justices of Nigeria, the Senate President, the Speaker of the House of Representatives, the Attorney-General of the Federation, the Secretary to the Government of The Federation and all state governors.
Former Presidents Goodluck Jonathan and Muhamamdu Buhari attended the inaugural Council meeting, while former Heads of State, General Yakubu Gowon (retd.) and General Abdulsalami Abubakar (retd.), joined virtually alongside governors of Abia, Adamawa and Akwa Ibom State.
However, former President Olusegun Obasanjo and former Head of State General Ibrahim Babangida (retd.) did not attend the meeting.
Tuesday’s gathering came days after Nigerians, mostly youths, hit the roads in Abuja for a one-million-man march. The march, which climaxed with a low turnout, marked the 10th day of the nationwide protest against the rising cost of living in the country.
On August 1, the opening day of the nationwide protest, demonstrations declined into destruction of property and loss of lives, especially in the North, leading to at least 22 reported deaths during the “days of rage.”
On August 3, just two days into the demonstrations, viral photos and videos showed demonstrators waving the flags in Kano State and chanting in Hausa, “We don’t want bad government.”
In Kaduna, a state in the north west, protesters were also seen waving the Russian flag and reciting in Hausa, “Welcome, Russia; Welcome, Russia.” Russia, an Eastern power which is currently mired in a proxy war with the West, has been blamed for several unconstitutional changes of government in West African countries such as Niger, Mali and Burkina Faso, among others.
The Nigerian military said the use of Russian flags during the protests was a treasonable offence, adding that it was investigating those behind the move and would “take serious action” against them.
While addressing the nation in a broadcast on August 4, President Tinubu warned demonstrators not to “let the enemies of democracy use you to promote an unconstitutional agenda that will set us back on our democratic journey.”
Security agencies had identified at least four politicians from Katsina, Kaduna and Kano states, who, they said, promoted the use of the Russian flag among demonstrators with the intent to spark unconstitutional regime change.
Another source privy to the discussions at the Council of State meeting told our correspondent that these local actors have been arrested, with the foreign mastermind on the run.
The source said, “The NSA also briefed the Council that there was some element of foreign interference in the protest, that they found out that some foreigners fueled the protests. It was not just about Nigerians protesting against hardship.
“A foreign agent had been found to be connected to it and would soon be declared wanted by the Police. The police will make the announcement this week.
“This agent is a person of interest with his Nigerian collaborators; most of them have been arrested. They are looking for him. But his collaborators in Abuja, Kaduna, Kano and Katsina have been arrested. The NSA also confirmed that eight people died during the protests.”
Meanwhile, the Minister of Solid Minerals Development, Mr. Dele Alake, said no political actor would be allowed to instigate an unconstitutional regime change. He described the #EndBadGovernance protests as an attempt to achieve regime change, saying any such changes must be made through the ballots, not through insurrection.
“Any change of government has to be through the ballots and not through the barrel of the gun or insurrection or any other unconstitutional means,” Alake stated while briefing State House correspondents after the Council of State meeting at the Villa on Tuesday.
He added, “Matters of state were discussed in a robust and frank manner. The National Security Adviser was also on hand to present the security situation of the country. He informed the Council of State about the pre-, during and post-event of the last protests, which I do not call a protest. I call it a movement to effect a regime change by force, which was resisted.
“The Council thanked Nigerians at large for resisting any unconstitutional move to change the government. If anybody is not satisfied with the government, there is always an election coming, so you wait for the election and cast your vote.
“The NSA briefed the Council on the security situation and allayed fears. He spoke about the tightness of the security around the country and also reassured all and sundry that nobody would be allowed to truncate our hard-earned democracy. And he reassured us of the readiness of all security agencies in the country to secure our territorial integrity and protect Nigeria’s democracy.”
The cabinet member confirmed an earlier report, stating that he and his counterparts from various ministries briefed the Council on seven areas: The Nationwide Protest as it Affects National Security; the State of the Economy; Food Security, Availability and Affordability; Milestones in the Solid Minerals Sector; Budgeting and Planning for Sustained Development; Milestones in the Road Sector and Leading a Strong Industrial Base for Transformation and Growth.
“Some of us ministers were invited to make presentations on our road map and what we’ve achieved, as well as the prospects and the challenges in our various ministries.
“And so, me, the Coordinating Minister of the Economy and the Finance minister, Mr Wale Edun, were there to make a presentation.
“The Minister of Budget was also there, he made his presentation. The Minister of Works also made a presentation and so did the Minister of Industry, Trade and Investment and the Minister of Agriculture,” he stated.
On his part, Finance minister Wale Edun told journalists that his data-based presentation at the Council meeting showed attendees Nigeria’s inflation rate, which he said was too high by Tinubu’s reckoning, was reducing steadily.
“In my case, we updated them on the economy, how much progress has been made in terms of the macroeconomic policies being followed under the leadership of President Bola Tinubu, and these policies are anchored on his eight priority areas and the results to date have been very encouraging.
“We looked at the data of this half year for which data was available, compared to the first and second quarters of 2023. And in broad terms, the economy is growing. The balance of payments, in particular, the trade and current account balances, are in surplus.
“The exchange rate is stabilising, and inflation, though uncomfortably high for the liking of Mr. President and his team, is slowing, and it is set to fall. But in particular, there has been support for the economy from investors, by way of portfolio investors and domestic investors, who are participating in important private-public partnerships, particularly the infrastructure sector and foreign direct investment, which is beginning to recover; I would say so.”
Edun noted that the takeaway from his presentation was that “we have exports, goods exports, non-oil exports, at $55bn last year with tremendous room to grow. And we reported an optimistic outlook for the Nigerian economy and society in general due to prospects for economic growth and progress.”
He said the service sector, particularly the outsourcing industry, was highlighted as a sector with high prospects for growth in the near future.
The Chairman of the Nigeria Governors’ Forum, Governor AbdulRahman AbdulRazaq, announced that the Council of State unanimously passed a vote of confidence on President Tinubu.
“The high note of the meeting was a unanimous passage of a vote of confidence on President Bola Tinubu, GCFR, Commander in Chief of the Nigerian Armed Forces,” AbdulRazaq, the Governor of Kwara State, said.
“Members, especially those of the Nigerian Governors’ Forum, were satisfied with the presentation by the members of the Federal Executive Council, and after that meeting, there was an executive session between members of the NGF and Mr President, and frank and fruitful discussions were held between both parties.
“I’m glad to say we are on the right track. And to say in the same vein, members of the NGF, like the members of the Council of State, also passed a vote of confidence on Mr. President.”
The Council was last held 18 months ago – February 10, 2023 – under former President Muhammadu Buhari. At the time, Buhari had convened the meeting to discuss the 2023 elections, the crisis emanating from the new naira policy and fuel scarcity.
The National Council of State is a constitutional organ of the Nigerian government that advises the executive on policy-making, among other functions. Its largely advisory role is to guide the President in decision-making processes on national security, appointments and economic policies.
At the President’s behest, the Council meets to deliberate on crucial national issues, including—but not limited to—national security, economic challenges and the appointment of key public officials like the chairman and members of the Independent National Electoral Commission, the National Population Commission and the Police Service Commission.
Additionally, the Council advises on the exercise of the President’s powers regarding pardons and commutations. The meetings are typically convened by the President and are not held regularly but are instead called as needed, especially when the country faces significant challenges that require input from past and present leaders. Though not binding, the Council’s recommendations often influence presidential decisions.
PUNCH
News
I was scammed, says businessman who paid N400m to embattled PFIPC DG Adeyemi
The Managing Director, Divine Dopacy Nigeria Limited, Gbenga Collins, has informed the House of Representatives Ad-hoc Committee that he paid N400 million to the purported Director-General of the Presidential Foreign Investment Promotion Council, Adeniyi Adeyemi, after allegedly being promised a contract to renovate and furnish what was presented as the official residence of the DG.
This revelation comes amid the ongoing investigation into the alleged establishment and operations of the agency.
Narrating the ordeal before the committee on Tuesday, Collins noted that he believed the PFIPC was a genuine Federal Government institution because Adeyemi operated from an office in the Federal Secretariat, Abuja, moved with security personnel and official vehicles bearing government number plates, and received visitors in what appeared to be an authentic government office.
Collins, a graduate of Federal University of Agriculture, Abeokuta, said he first met Adeyemi, whom he described as a fellow indigene of Ogbomoso, during a programme in their hometown in December 2024.
According to him, Adeyemi later invited him to Abuja in early 2025 to discuss a business opportunity.

“When I arrived at the airport, he sent an official car to come and pick me up from the airport to his office at the Federal Secretariat, Abuja.
“When I got to his office, I met him there. He is a well-known man in Ogbomoso. I met a lot of people, very big dignitaries in his office, and I met a group of security officers guarding the office,” he said.
Collins said Adeyemi introduced himself as the Director-General of both the Presidential Economic Advisory Council and the PFIPC.
He told lawmakers that it was his first visit to Abuja and that the official setting gave him no reason to question Adeyemi’s claims.
“I saw police officers with him. That was my first time coming to Abuja because I’m not familiar with Abuja very well. He sent his official car to pick me up from the airport. It had a Federal Government registration number attached to the Lexus SUV,” he said.
Collins said Adeyemi later informed him that he had been allocated an official residence as the DG and wanted his (Collins’) company to handle its renovation and furnishing.
According to him, Adeyemi personally took him to inspect the property.
“He told me that he wanted to do refurbishment and renovation of the official house assigned to him as the DG of that agency and asked whether I would be able to handle the contract.
“He took me to the house to show me the property because I slept in Abuja. We went there the following day with his staff. We went with more than four, five or six vehicles with security. They opened the house and took us round, showing me what they wanted to do,” Collins added.
He said discussions continued until April 2025 when Adeyemi allegedly handed him a contract award letter, scope of work and an agreement between the purported council and his company.
Collins told the committee that he was informed he needed to pay N400m to demonstrate his company’s financial capacity and facilitate mobilisation for the contract.
“He gave me the contract award letter, the scope of work and the agreement with my company to execute the refurbishment project.
“I had to pay N400m for the facilitation of that project to show my strength that I would be able to handle the project. At the same time, he said it would fast-track the mobilisation for the contract,” he said.
The businessman disclosed that he raised the money from business associates who trusted him because he had personally visited Adeyemi’s office.
According to him, N380m was paid in four instalments between May and June 2025 into a Guaranty Trust Bank account belonging to World Entrepreneurs Limited, while the balance of N20m was paid on July 29, 2025, into an Access Bank account belonging to Sunshine Confectionery and Catering Services.
“When I was paying the money, I kept telling him that I collected the money from my colleagues who were doing business with me.
“I was the one who told them I had gone to this man’s office, so I believed it was going to be a great opportunity for us. That was why people started giving me the money,” Collins said.
He said Adeyemi repeatedly assured him that mobilisation for the project would commence in August 2025, but the promise never materialised.
“When I finished the payment, he said they were going to do the mobilisation by August,” he said.
Collins said subsequent explanations centred on security concerns before fresh assurances were given that payment would be made in November.
“I continued calling him. He kept managing me, telling me they were handling security issues and that they would pay in November,” he added.
The witness said he became suspicious after repeated attempts to reach Adeyemi failed and later consulted a lawyer in Abuja.
“My lawyer was the first person who told me that I had been scammed,” he told the committee.
He disclosed that his lawyer petitioned the Economic and Financial Crimes Commission on November 13, 2025, and that he adopted the petition six days later.
“The petition was written on the 13th, and I was invited to adopt it on the 19th,” he said.
He added that investigators later informed him that Adeyemi repeatedly failed to honour invitations from the EFCC, allegedly citing ill health through his lawyer.
“Since then, the EFCC has been trying to invite him. I think he has been sending his lawyer. According to the Investigating Police Officer handling the case, his lawyer kept saying he would appear.
“Since then, I have not heard anything further, but they are on top of the matter. The EFCC will be in the best position to handle the rest,” Collins said.
Appealing to lawmakers, the businessman said the incident had ruined his business and forced him to dispose of personal assets.
“I just want to beg the Chairman and the honourable members to help me talk to all the agencies involved because I have been frustrated, especially by those people who gave me the money. I have started selling my property. My business is not going well again,” he lamented.
He maintained that he acted in good faith because everything surrounding Adeyemi suggested he was dealing with a genuine government official.
“I did all this based on trust. When I went to his office, I met a lot of big dignitaries there, people waiting to see him and people he was discussing contracts with. I also did it because he is from my hometown,” Collins said.
During the hearing, committee chairman Yusuf Gagdi asked Collins whether the N400m amounted to a bribe paid to secure the contract.
The witness rejected the suggestion, insisting that the payment was presented to him as a prerequisite for facilitating and mobilising the contract.
Lawmakers also asked whether he complied with the provisions of the Public Procurement Act before accepting the purported contract.
Collins admitted that he did not follow any formal procurement process.
“What I just have to say is to beg the committee, or to implore the committee, to please, in all their capacity, whatever they can use to assist me with the police that are investigating him because I was invited to the Cybercrime office. He said the same thing, that he did not deny collecting the N400m,” he told lawmakers.
He also confirmed that the money was never converted to United States dollars before it was transferred.
Responding to questions over Adeyemi’s absence from the public hearing, the committee chairman, Gagdi, disclosed that lawmakers would question Adeyemi at an undisclosed date and location to avoid interfering with ongoing investigations by the Economic and Financial Crimes Commission, the Independent Corrupt Practices and Other Related Offences Commission and the police.
News
Obi faults attacks on Catholic Bishops, urges Tinubu to embrace constructive criticism
The Presidential Candidate of the Nigeria Democratic Congress ( NDC) in the 2027, Mr. Peter Obi, has criticised what he described as growing intolerance of dissent by the Federal Government, warning that attacks on religious leaders who speak on national challenges undermine democracy and distract from the country’s pressing problems.
In a statement titled “When a Government Declares War on the Truth,” Obi said Nigeria’s worsening economic hardship, insecurity, inflation and unemployment require sincere engagement with constructive criticism rather than hostility towards those who raise legitimate concerns.
According to him, the Catholic Bishops’ Conference of Nigeria (CBCN) has never acted as an opposition platform but has consistently served as the nation’s moral conscience, speaking out on issues affecting the common good under both military and civilian administrations.
Obi noted that the same commitment to truth has been demonstrated by major Islamic and Christian organisations, including Jama’atu Nasril Islam (JNI), the Supreme Council for Shari’ah in Nigeria (SCSN), the Christian Association of Nigeria (CAN), and the Nigerian Supreme Council for Islamic Affairs (NSCIA), all of which have repeatedly expressed concern over rising insecurity, economic hardship and inflation.
He argued that religious leaders are often among the first to witness the suffering of ordinary Nigerians because they live and work within local communities where families struggle daily with soaring food prices, unemployment, kidnappings and other security challenges.

Drawing from his experience as Governor of Anambra State, Obi said constructive criticism from traditional rulers and religious leaders contributed significantly to the successes recorded by his administration, particularly in education and healthcare.
“As leaders, we should be gracious enough to listen to people and organisations that speak the truth to us and genuinely criticise us when things are not going in the right direction,” he stated.
The former governor expressed concern over recent attacks on the CBCN and, in particular, on His Eminence, John Cardinal Onaiyekan, following the bishops’ assessment of the nation’s condition. He recalled that when Pope John Paul II visited Nigeria in 1998 and openly challenged the late General Sani Abacha on issues including the detention of Chief Moshood Abiola, the pontiff was not subjected to public vilification.
Obi also pointed to what he described as a contradiction in the Federal Government’s relationship with the Catholic Church. He observed that President Bola Tinubu demonstrated respect for the Church during the inauguration of Pope Leo XIV in Rome by arriving ahead of many world leaders and participating fully in the ceremonies, but said that posture appeared to have changed following criticism from the Nigerian bishops.
He further accused political actors of attempting to exploit religious and ethnic divisions by portraying the bishops’ comments as a purely Catholic concern.
According to Obi, the issues highlighted by the bishops – including insecurity, poverty, inflation, unemployment and widespread hardship – affect all Nigerians irrespective of religion or ethnicity.
“The bishops merely expressed what millions of Nigerians experience daily,” he said, arguing that government officials should focus on addressing the concerns raised instead of attacking respected religious leaders.
Obi maintained that a democratic government should welcome honest feedback from credible institutions, insisting that national progress depends on leaders’ willingness to confront difficult truths rather than silence those who voice them.
Entertainment
Popular Nollywood Actress dies after battle with cancer
Nollywood actress Temitope Osoba has died after a prolonged battle with cancer, bringing an end to her courageous fight against the illness.
The sad news was confirmed on Wednesday by fellow actor Alesh Ola Sanni, who announced her passing in a heartfelt message shared on his Instagram page.
Sanni disclosed that the actress died on Tuesday evening, expressing deep sorrow over her passing and recalling the memorable moments they shared together. He said he had been unable to sleep after receiving the news and described Osoba as a dear sister whose memories would remain with him.
Temitope Osoba’s death comes nearly two years after she publicly appealed for financial assistance to undergo a second surgery as part of her cancer treatment in November 2024.
During her battle with the illness, the actress spoke openly about the challenges she faced, revealing in an interview that doctors had informed her she might not be able to conceive for five years because of the medication required for her treatment.

She also disclosed that she underwent several medical examinations to determine whether the cancer had spread, but remained hopeful despite the diagnosis.
According to Osoba, she chose not to accept the medical prognosis regarding her chances of having children. Instead, she said she relied on her faith through prayers and fasting while continuing her treatment.
Her passing has sparked an outpouring of grief from colleagues, fans and members of the entertainment industry, who have continued to pay tribute to her life, resilience and contributions to Nollywood.
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