
News
Police indict Sterling Bank for alleged money laundering, fraudulent deductions, others
LThe Nigeria police on Wednesday indicted Money Deposit Bank, Sterling Bank over alleged money laundering, fraudulent deductions and other financial crimes by its staff.
This was contained in a report presented to the House of Representative Committee on Public Petition during the hearing of a petition by Maiden Systems Ltd against Sterling Bank, Central Bank of Nigeria (CBN) and Shell Petroleum in Abuja.
Miden system Ltd had petitioned the Committee on alleged mismanagement, fraudulent debit, and misappropriation of funds from its account domiciled with Sterling bank.
Presenting the report before the committee, the representative of the Inspector General of Police, Kabiru Yahaya and Sunny Amison, both Chief Inspectors of Police said after intensive investigation and arrest made on the matter, the bank was found wanting found wanting.
According to him, after arrest was made and an extensive investigation carried out, noting that the bank could not provide evidence to counter the allegations made against it by Miden System Ltd.
He said “We were saddled with the responsibility to investigate mismanagement, fraudulent debit, and misappropriation of funds from the account of Maiden Systems Limited by Sterling Bank.

“In the course of our investigation, findings emerged about the issue of non-issuance of statement of account, fraudulent debit, and misappropriation of funds. More importantly, Maiden Systems Limited raised the issue of accounts. There are four accounts operated by Sterling Bank Plc for Maiden Systems Limited. Two are U.S. dollar accounts, while two are Nigeria NGN accounts.
“Major remittance is coming to the account of Maiden Systems Limited, to be signed with Sterling Bank, and Shell Petroleum Development Company Limited. Now, we have cutting records from Shell over the period 2017 up to 2020. Shell failed, this is our finding, Shell failed to supply the financial reports for 2021, 2022, 2023, and 2024.
“Now, having regard to the complaint of Miden Systems that it was denied the statement of account, we interfaced with an account officer, who gave us in writing that the company is being furnished with the statement of account. And I asked how, he said electronically, or by short message service, But there is no proof. There’s no proof to debunk that aspect of the allegation.
“Secondly, we discovered from the statement of account generated by the bank, not provided by the petitioner, or its counsel, or any third party. These are accounts and statements of account generated by the bank. Ordinarily, before an investigator, we did not just call for a statement of account to just look at it and dump it.
“We looked at it holistically and saw the grey areas where there were discrepancies or where there are questions to be raised.”
According to CSP Amison, we discovered a Debt Service Repayment Account (DSRA) where money is being used to service the loan.
The loan offer as of 2012 was $30 million. We need to understand it was restructured in 2017, with capital and interest to arrive at US$30 million.
“Having regard to the account, we, a team of detectives, started seeing debits, debits from Miden System account for loan repayment. And we took it upon ourselves to ask the account officer that first came before us to explain the loan repayment but he said it was a mere narration adopted while applying funds to the company’s loan account. We found this very vague and ambiguous.
“We discovered that about US$28.3 million was debited from this company’s account for loan repayment but there’s no explanation.
“Particularly, on the 29th, September 2016, the sum of US$2,413,000 was debited from the company’s account. Account number 00148517716 for loan repayment with reference FT16271UZYO. On 14th, November 2016, the sum of US$1.256 million was equally debited from this same account for loan repayment.
“While on the 16th of January 2017, the sum of US$28,302,140.59 was debited from the company’s account for loan repayment. And like I said, we’ve waited for the bank to provide account officers who have managed this account to throw more light on this. It is not our document.
“It is their own document. The facts are before them. If somebody has managed that account before and is no longer an account officer, they could call them, provide names since they are no longer in the bank.
“One of the account officers specifically wrote that the outstanding balance was about US$27.25 million, while the executive director gave us a figure of over US$30 million. That is to say, nothing has been paid, nothing has been debited to clear the loan.
“We equally discovered what the bank captured in the statement of account, in-branch transfer, account to account. And we asked, what does the bank or the account officers mean by in-branch transfer, account to account?
“We have come up with the recommendation that, since the bank has failed to provide evidence for itself to debunk the allegation raised by Median Systems , evidence as used so far from their own statement of account corroborates the offences alleged. Financial mismanagement, Fraudulent debit, misappropriation of funds and more importantly, when funds are being moved that way, if you go deeper, money laundering. We could not even go deeply towards the petitioner raising their petition.
Responding, the Chairman of the Committee, Mike Etaba assured both parties that the report will be studied by the Committee and justice served.
“At the committee level, we will look at the Police report and I assure us that justice will prevail,” Etaba assured.
News
State Police: Mbah presses for financial autonomy, investment in technology
…Allays fears of abuse, says no one would be governor forever
Governor Peter Mbah of Enugu State has called for financial autonomy and investment in modern security infrastructure for state police services when created, stressing the need for any legal framework for state police to take into account the need for national standards, national support, local capability and local decision-making.
Mbah made his position known during the town hall themed, “Building a National Consensus for State Police and National Security,” organised by Arise News in Abuja on Thursday.
The governor emphasised that prioritising security through adequate funding for state police services and investment in technology would enable those responsible for security at the subnational level to deliver the expected outcomes.

“The importance of funding the state police system effectively cannot be overemphasised. And having a State Police Service Commission that has a first-line charge on the Consolidated Revenue Fund is in order.
“Many other institutions in the states – the judiciary and the legislature – have the first-line charge. The key thing is providing enough funding to be able to sustain the state policing system,” he said.

Sharing the Enugu State experience on the importance of prioritising security, he recalled that at the inception of his administration in 2023, the state was under siege, with nightlife gone, some areas even in the state capital barricaded, Mondays gone, while many students lost an entire academic year, as they could not sit important final-year examinations due to the illegal sit-at-home orders.

“If the Enugu experience is anything to go by, we came into office recognising that we had made commitments to eradicate poverty, to grow the economy exponentially, to make Enugu State the preferred destination for business, living, and investment.
“We immediately recognised that if we didn’t address the security challenges, we could not achieve those objectives. Therefore, we had to invest hugely in technology, in building a Safe City Surveillance System with CCTV cameras that are AI-enabled, as well as having both static and mobile cameras. All these come with huge costs.
“But the human element is also important, which is essentially why we had to set up the Distress Response Squad (DRS). As a governor, you want immediate action because matters of security are measured in minutes. You must be in a position where you are able to act swiftly.
“So, you must build the capability to first nip crime in the bud. But where there has been a breach, you must have the capacity to act swiftly. And if the Enugu experience is anything to go by, that essentially is what we did that enabled us to drive down violent crime by over 90 per cent.
“Therefore, when you talk about funding, you can see that the states are already carrying quite a huge burden in terms of funding, because you are investing in technology.
“We also ensured that there is a unified communication system between the agencies. Our Command and Control Centre houses all the security agencies in the state – the police, the army, and the Department of State Services. They all have a channel of communication,” he stated.
Governor Mbah also called for a constitutional provision that guarantees state police while preserving the details for an Act of the National Assembly to allow for amendments in the future without going through the rigours of constitutional amendment.
“So, in amending the Constitution, we must, by all means, make sure that it is not verbose. There should be a provision that allows us to reform the system in future, if needed, when we have tried it,” he said.
Mbah also stressed the need to focus on operational authority for state police rather than on watering down the powers of governors, who would be in office for a maximum of eight years only.
“By the way, there is this idea that governors are likely to abuse state police and that we should, therefore, do as much as we can to water down their powers.
“Nobody is a governor forever. We are also going to one day leave that office and become regular citizens. We just want to be sure that there is enough operational authority given to the governors so that you do not give someone a performance target without providing him or her with the control needed to achieve the required outcome,” he concluded.
News
FG raises Soldiers’ Minimum Salary from N49,000 to N100,000 per month — Defence Minister Musa
The Minister of Defence, Christopher Musa, has disclosed that the Federal Government increased the minimum monthly salary of Nigerian soldiers from N49,000 to N100,000 as part of ongoing efforts to improve the welfare of military personnel.
Musa made the disclosure during an interview with News Central on Wednesday ahead of the station’s NC Exclusive programme scheduled for Friday.
He described the development as one of the welfare improvements introduced by the current administration for military personnel.
“When they started, a soldier was collecting N49,000 monthly. We tried so hard, now he’s collecting N100,000,” the minister said.
For decades, concerns over poor salaries, inadequate accommodation, delayed benefits and rising living costs have dominated discussions on military welfare.
Musa also dismissed allegations that soldiers were being poorly fed, describing claims circulating on social media as misleading.

Referring to a viral video involving a military officer identified as Justice Crack, he alleged that the footage was deliberately manipulated to create a false impression about the quality of meals served to troops.
“The soldier’s food was okay. There was meat; there was all this. But he told them to pull out those things and make it look as if those things were not there,” he said.
The minister’s remarks come as the Federal Government continues to pursue a mix of welfare reforms, increased security spending and renewed military operations aimed at improving the effectiveness of troops battling insecurity across the country.
But calls persist for greater investment in equipment, intelligence gathering and personnel welfare.
Musa maintained that Nigeria’s defence allocation remains inadequate to meet the enormous demands placed on the Armed Forces.
Responding to a question on whether the current defence budget was sufficient, he replied, “It’s not enough.”
He noted, however, that the government would continue investing in the welfare and operational capacity of the military to enable personnel to respond more effectively to the country’s security challenges.
The minister also advocated tougher punishment for kidnappers, calling for the introduction of the death penalty to discourage the growing wave of abductions across the country.
According to him, existing sanctions have failed to deter perpetrators.
“I think we should do that. There must be deterrence. The laws are soft, and that’s why people take advantage.If they know once you commit an offence, there must be punishment,” he said.
Speaking on the recent abduction of schoolchildren in Oyo State, Musa alleged that the kidnappers were attempting to pressure the military into releasing some of their commanders currently in custody.
Describing the incident as unfortunate, he said the abductors had resorted to using innocent children as bargaining tools.
“It’s a very sad event. Unfortunately, bad things do happen. For whatever reason, they are looking for leverage because we have some of their commanders with us, and they feel taking these kids and holding them to ransom will make us release their commander,” he said.
He further claimed that the kidnappers had threatened to kill the victims should security forces move closer to their hideout.
“They are now threatening that if we come any closer, they’re going to kill all the kids,” the minister added.
News
2027: ‘Peter Obi must not die’ — Igbo Group warns of catastrophic consequences
Njiko Igbo Forum, an affiliate of Ohanaeze Ndigbo, has issued a stern warning ahead of the 2027 general elections, cautioning that it will be catastrophic should anything happen to Mr Peter Obi.
It could be recalled that Obi, on Wednesday, raised the alarm that his life was under threat.
The presidential candidate of the Nigeria Democratic Congress, NDC, raised fears that he may not be alive in 2027 to be part of the election.
However, in a statement issued on Thursday, Rev Dr Okechukwu Christopher Obioha, Leader, Njiko Igbo Forum Nigeria, he warned that should anything happen to Obi or he was not in the ballot, the reaction and result would be very catastrophic.
Obioha said the caution was part of the decision taken during an emergency meeting held today, Thursday, in Enugu.
The Forum said, “That we have seen the viral video made by His Excellency, Mr Peter Gregory Obi, speaking on a number of issues, he expressed serious concern that his life is in danger.

“For him to have gone to the extent of saying he might not be alive before the 16th of January 2027, speaks volumes both in our polity and in the country at large.
“We have seen him in the past, spoke about the federal government trying to frustrate and targeting him not to be in the ballot.
“We have also observed over a period of time that the presidency or the federal government led by President Tinubu does not want Peter Obi to be in the ballot.”
While drawing the attention of the Presidency, Nigeria and the world to those allegations, Njiko Igbo Forum declared that “if anything happens to Mr Peter Gregory Obi or finally his name is not in the ballot for the 16th January, 2026 presidential election, the reaction and result will be very catastrophic and may adversely affect the continued unity in diversity of this country Nigeria.”
It further stated that the Igbo had been very quiet, pushed to the wall, segregated against, marked out everywhere, chased about and even tried to take their possessions.
Njiko Igbo Forum cautioned that keeping quiet does not mean the Igbo are cowards.
It said the ruling government should not forget that for any democracy to thrive, there must be a viral opposition in the polity.
“There is no reason, for what we have seen in the process or polity in trailing Peter Obi and going to an extent of chasing him through all the political parties and now wanting to kill him.
“This outcry by Mr Peter Gregory Obi, must not be taken lightly and request as a matter of urgent National importance, that an urgent investigation panel be constituted to verify Mr Peter Obi’s allegations.
“We are strongly stating again that, nothing should happen to Mr Peter Gregory Obi.
“Yes, Chief Awolowo said, before Nigeria he was of the Yoruba Nation. The same way we are saying before Peter Obi is of Nigeria, he is of the Igbo.
“Mr Peter Gregory Obi will live and become the President of the Federal Republic of Nigeria in 2027,” it declared.
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