Frustrated Governor Ibikunle Amosun of Ogun State has vowed not to take things easy with members of the National Assembly from his state planning to thwart his ambition for a second term in office henceforth.
In a letter, titled Pulling down the House to Protect a Corner: A Note of Caution dated 18th January 2014, and addressed to the legislators and copied top party members of the All progressives Congress (APC), the governor said he would bring his official powers against the lawmakers for their disrespect.
There has been a lingering crisis of supremacy between the governor and former Governor Olusegun Osoba, who is also a party leader in the state. The political battle between the two is fast polarising the party structure, with many, including the legislators, supporting Osoba.
Huhuonline.com learnt that the trouble first began when, in a bid to take over full control of the state, Amosun upstaged Osoba in political appointments and offices. Osoba no longer has even a councillor, as all his nominees were discarded by the governor.
In the heat of the crisis, the legislators converged last week and passed a vote of no confidence on Amosun, declaring that they would not support his second term ambition, a declaration that infuriated the governor, who defected into the party from the All Nigeria People Party (ANPP).In the letter warning the lawmakers, Amosun accused them of planning to render the state ungovernable for him, saying he would do everything to protect the mandate given to him by the people of the state. He revealed that he had briefed all security agencies in the state to be more vigilant and prevent any breach of peace in the state, and therefore warned the lawmakers to tread softly within the ambit of the law or face the consequences.
“It is with considerable hesitation that I write this letter to you, especially a few minutes after I called and spoke with you on the phone over the crisis arising from your programme in Ewekoro Local Government Area on Thursday, 16th January 2014”, Amosun wrote.
“However, after a thorough consideration of information obtained on the same issue prior to and subsequent to the telephone conversation with you from some mutual friends, security agencies and state officials, some of whom you had also spoken with on the same issue, I decided to reduce my thoughts to writing in order to put the issues in clear perspective and also for record purposes. It has even become more imperative to write because I have since realised that the positions and approaches you espouse in discussions with me are always at great variance with your true disposition on the same issues, both in words and actions, while with other people.
“Your different and inconsistent narratives around the event have now confirmed to me that what happened in Ewekoro was indeed part of a premeditated, choreographed and coordinated but needless crisis in our great party, All Progressives Congress (APC), in Ogun State with the National Assembly members elected on the platform of the party as the major agents provocateur, working in concert with other elements within and outside the party. By the benevolence of God and the support of the good People of Ogun Central, I was elected a Senator in 2003 and will continue to hold in the very high esteem the institution of the Senate, in particular, and the National Assembly of the Federal Republic of Nigeria in general.
“This letter is directed to you as the contact point for your colleagues from Ogun State in the National Assembly because you are the one currently occupying the same seat in the Senate that I occupied a decade ago. It is regrettable that despite all my efforts to warm up to you and your colleagues since your nomination as party candidates and up till now, it is obvious that your group has always had scant regard for me and my office because you believe that I played no role in your emergence as party candidates and subsequent elections in 2011 and will play no role in your re-election. This explains why you continue to rebuff all my initiatives to make us work together as a team in the overall interest of our party and the good People of Ogun State. Nonetheless, I remain undeterred in the search for unity. You are therefore at liberty to share the content of this letter with your colleagues”.
Itemising all the issues for discussion, he wrote:
“1. My Understanding of the issues. In the last few months, I have received security reports and information from credible sources, including party faithful, leaders, mutual friends and utterances directly emanating from your group, indicating that you and your colleagues were planning to precipitate a crisis in our party in pursuit of your personal agenda.
“I dismissed the reports with a wave of hands in the knowledge that no member of the party, much more so members of the National Assembly, would do anything that will impact negatively on our administration’s mission to rebuild our dear state. Besides, I thought the formation of the All Progressives Congress (APC) from the merger of the legacy parties, including the Action Congress of Nigeria (ACN) on which platform we were all elected into various offices, would address outstanding integration challenges. It is my belief that the new platform, the APC, offers an opportunity of a fresh beginning.
“However, the unfortunate events of the last few weeks, with their intensity and frequency, have lent credence to reports and information I earlier disregarded. Two instances will suffice here. The violence that accompanied the botched attempt by your group on Thursday 9th January 2014 to foist a handpicked so called “Harmonisation Committee” on the party in the state now seems to be the opening glee in a well-scripted series. For the avoidance of doubt, the “Harmonisation Committee”, even if properly constituted, clearly has no role in the forthcoming party membership registration exercise.
“The second incident was the event of Thursday, 16th January 2014 in Ewekoro Local Government Area, organised by you to purportedly sensitise party members in Ogun Central Senatorial District on the forthcoming party registration exercise but ostensibly a manifestation of another scene in the series. It is curious that a day in which the interim National Chairman of our party, Chief Bisi Akande, was being honoured in Lagos was the day you chose to hold your sensitisation event. I was at the ceremony with members of the State Executive Council, Speaker, other members of the State Assembly and Chairmen of our Local Government Areas, including that of Ewekoro. These two events are just exactly one week apart and in between there were other activities by your group all aimed at achieving the desired objectives. I understand that these actions and incidents, that are part of a larger plot that will be highlighted below, are designed to achieve two primary objectives:
“The first objective is the quest of your group to control the structure of our party in the state, commencing with the hijack of the party membership registration exercise, hence the attempt to foist a “Harmonisation Committee” on the party in the State. The second objective is the desire of all the National Assembly members from our state and some members of the House of Assembly to secure automatic second-term tickets for the general elections in 2015, without regard to the opinions of the generality of members of our great party in Ogun State.
In order to get the support of the unwary, these personal agenda of the very few have been couched and packaged as altruistic party issues and deliberately orchestrated to attract national attention.“2. The plot against the state. The plot to achieve the narrow objectives of your group has many elements that I initially considered to be unlikely and far-fetched. However, your recent actions and utterances have all the trappings of these elements with the precision and approach foretold. Let me highlight some of these elements that will certainly not be strange to you: instigation of pockets of violence to create a sense of disunity in our party and insecurity in the state as a whole. This approach will include deliberately perpetrating arsons and symbolic harms on the property and persons of some members of your group and then blame the actions on me and our administration.
“Demonisation of my person and our administration through a well-oiled smear campaign in the media that will evoke the ugly memory of the immediate past. Already, some of your supporters, especially allies in the State Assembly, have been instigated to start circulating text messages alleging threats to their lives. Distraction of the attention of the Government from governance so that the programmes and projects that have endeared the Administration to the good People of Ogun State will be stalled. The intended consequence is to reduce the popularity of the government with the populace. Blackmailing me and the National Leadership of our party to undermine the integrity of the party leadership to intervene as impartial umpires, should the need arise. Generally making the state ungovernable, including precipitating crisis in the State House of Assembly through a plan to forcefully change the leadership and continuous disruption of legislative proceedings.
“A further orchestration of the ‘crises’ aimed at creating a window for your group to move motions in the two chambers of the National Assembly designed to embarrass the State Government. Disruption of the impending party membership registration exercise, knowing full well that the exercise may expose the shallow followership of your group across the state. Even this noble exercise that is expected to develop our great party will also not be spared of the smear campaign to discredit the process. Joining forces with the opposition, who are known ‘Masters of Violence’ in an unholy alliance to help re-enact the immediate inglorious past.
“The overall thrust is to force a negotiation to secure an undeserved advantage that could not be otherwise achieved through the internal party democracy. What is more disturbing is that in this venture, no tool is considered too crude to use, no weapon too unconventional to deploy, and no approach too demeaning to adopt. I learnt that you and your colleagues have indeed been boasting that the nationwide destruction of our great party, the APC, will be kick-started from Ogun State.
“3. The Implications for the State and our Party (APC). It is important to always remember where our state was, before the inception of our administration on 29th May 2011 so that your ambitions to control the party and secure your second term in office at all costs do not becloud your sense of judgement. The implications of your actions are grave and are far greater for our State and the party, than for me as the Governor or our administration. Whatever offices we hold now, many have done so before us and many will still do after. Therefore, the larger interest of our state must take overriding position at all times. Power is transient and all of us will be accountable to the people, posterity and God Almighty”.
He noted that the implications of these actions include rollback of the achievements attained by the party and his administration in the onerous task of rebuilding Ogun State, particularly the widely acknowledged peace and security that pervade the state. He added that the state has received many national and international honours and awards in this regard, including the recent one — the Most Secure State in Nigeria (2013) — by CLEEN Foundation, a foremost Non-Governmental Organisation with focus on security in the country.
“Some of the achievements, such as increase in the state’s Internally Generated Revenue from paltry N750 Million monthly to about N3 Billion, will be undermined. The image of our party (APC) as a party of peace and progress will be negatively affected”, he wrote on.
“It will amount to taking the support of our people for granted. Worse still, your actions, if not curbed, will lead to an unfortunate return to the inglorious era of the immediate past”.
In conclusion, he wrote: “My Brother, you will recall some of my efforts and initiatives to forge unity and harmony in our party. These are well-documented and predate my assumption of office as Governor. Since inception, I have remained committed to the vision of building a virile, united and harmonious party with equity, justice and inclusiveness. As a member of the 5th Senate myself, I have constantly extended my hands of fellowship to you and your colleagues, including my personal invitations to all our programmes. The most recent initiative to achieve greater unity in the party was the formation of Consultative and Advisory Councils in all our twenty Local Government Areas. This body comprises party elders, elected members (including National Assembly and State Assembly Members), and political appointees. It provides platform for closer interaction amongst all the stakeholders, fosters unity and engenders mutual understanding. The composition, as you know, is inclusive. Regrettably, you and your colleagues have declined participation in the activities of the Consultative Assembly in your respective Local Government Areas.
“I remain resolute to building bridges within the party and even beyond. Far from being a sign of weakness, this is a demonstration of our commitment to general peace and security in the state. Any discord in the state or any critical segment or group, political or otherwise, takes away from this commitment. I swore to an oath which primarily requires me to protect life and property of all citizens and residents of Ogun State and remain unwavering in our commitment to ensure that the Mission to Rebuild Ogun State continues unhindered. While I will continue to make overtures for peace and pursue initiatives to forge party unity and harmony, I will not abdicate my responsibility as the Chief Security Officer of the State.
“In this respect, I have re-emphasised to the chairmen of the Local Government Areas that they will be held accountable for any breach of peace in their respective areas. Furthermore, I have briefed, as always, all security agencies in the State to be more vigilant and prevent any breach of peace in our State. In the same vein, my expectation is that all political gladiators will conduct themselves peacefully within the ambit of the law as any breach of peace and security that our administration jealously treasures will be viewed seriously. For emphasis, the full wrath of law will be visited on anyone whose conduct is capable of returning our State to the inglorious days of the immediate past.
“The citizens of the state have made it clear to us that they enjoy the current peaceful atmosphere that pervades the State in almost three years of our administration and that they will not accept any further ugly development that casts a dark shadow on our atate. As the custodian of their legitimate and freely given mandate, I intend to keep faith with them in this regard. It is my hope that your actions and utterances henceforth will be in consonance with this simple wish of the good People of Ogun State. It is not too late for you and your group to retrace your steps by putting a stop to the plot against the state and allow good reasons prevail.
“Democracy may not be perfect for human and societal organisation, but it is not for nothing that it remains the most preferred form of government worldwide. It has its tenets, the most profound being that it is a game of numbers. In this wise, I urge you and your colleagues to take full advantage of the forthcoming registration of party members by mobilising your supporters to register. This is the path true democrats adopt and it is also the path of honour.
“It is certainly more honourable than following the script of “what we can’t get, we destroy”. The plan to foment trouble in our great party, the APC, while hobnobbing and nurturing opposition parties as alternative platforms to realise your personal ambitions is an ill-wind that blows no one any good. I intend to continue to devote substantial focus to what the good People of Ogun State elected me to do – good governance – without allowing active partisan politics to become a major pre-occupation and distraction, as some would rather wish.
Once again, my Dear Senator Obadara, please accept the assurances, as always, of my highest regards”.
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Gunmen believed to be kidnappers attacked a commercial vehicle belonging to Benue Links, the state-owned transport company.
About 17 candidates travelling to Otukpo for their examination centres in the ongoing Unified Tertiary Matriculation Examination (UTME) are feared to have been abducted, although the exact number of victims remains unclear.
Information available to our correspondent says that the incident took place between 7–8 p.m. on Wednesday, April 15, along the Benue Burnt Bricks in Otukpo, Otukpo Local Government Area (LGA) of Benue State.
According to sources, the assailants waylaid the bus and robbed the occupants of their belongings before whisking them away into the bush.
An eyewitness, who spoke to journalists on the condition of anonymity, said the Benue Links bus, which was conveying about 18 passengers, ran into the kidnappers at about 8:00 p.m. on Wednesday night.
“The passengers were mainly young persons heading to Otukpo to sit for the JAMB examination scheduled for Thursday.
“Two people, the driver and one passenger, managed to escape. Incidentally, the passengers were mainly young men and women who travelled to sit for the JAMB examination scheduled for today (Thursday),” he said.
When contacted, the General Manager of Benue Links, Mr Alexander Fanafa, confirmed the incident, noting that the driver of the bus is presently undergoing interrogation at the police station in Otukpo for violating the company’s safety policy not to travel beyond 6:00 p.m.
He said, “As I speak with you, the driver has been arrested and is under investigation for traveling against company directive. I have warned all drivers to stop night journeys, as they would be held as first suspects if anything unfortunate happens.”
The General Manager further stated that the driver took his vehicle and loaded the passengers who were heading to Otukpo after official hours when the park manager, Mr Amedu, had closed, and ran into trouble, so he has been arrested.
The Executive Chairman of Otukpo Local Government Council, Prince Maxwell Ogiri, confirmed the incident, saying that it occurred between 7 and 8 p.m. on Wednesday.
He added that security agents have been mobilized to rescue the victims, stating that the victims are all young people coming to Otukpo to write JAMB examinations.
“It is true, I’m just coming out from a security meeting, and security operatives have been moved into the forest to help rescue the kidnapped victims.
“The victims are mainly young boys and girls coming to Otukpo to write JAMB,” Ogiri said.
However, when contacted, the Benue State Commissioner of Police, Ifeanyi Emenari, confirmed the situation, but said 14 passengers were kidnapped, while one passenger escaped.
The commissioner disclosed that he had already arrived in Otukpo and is conducting the rescue operation.
“I am in Otukpo now with all my team and DPOs who are here in the bush, and I am heading the operation.
“What happened was that one Benue Links bus carrying passengers coming to Otukpo was stopped and attacked by hoodlums, and 14 passengers were kidnapped, but one was able to escape,” he said.
According to him, the command had commenced an investigation into the incident, particularly the circumstances surrounding the journey.
He maintained that Benue Links management has a policy against night travel, but the driver allegedly picked up passengers after official hours.
“We know that Benue Links has a policy and don’t usually drive at night. So from what I got, they have already closed, but the driver, for reasons best known to him which we are still trying to find out, picked passengers along the road, and when he came here, the story you have is what we are having.
“But as we are investigating, we are on the ground to make sure that the victims are rescued,” Emenari said.
News
There are governments that save for the rainy day, governments that prepare for the storm, and governments that, when the heavens open and money falls like tropical rain, rush outside with buckets full of holes. Nigeria, under President Bola Tinubu, has perfected a fourth category: the government that borrows during a windfall. It is a feat of fiscal acrobatics so astonishing that even the most cynical observers of Abuja’s budgetary theatre must pause in admiration. For decades, Nigeria has squandered oil booms with the reliability of a metronome. But this administration has achieved something more ambitious: it has managed to squander a boom before it even finishes arriving.
The US–Iran war has sent oil prices soaring to $115 per barA Government Addicted to Debtrel, nearly double the government’s benchmark of $64.85. Nigeria is earning an extra $92 million every single day; a torrent of unbudgeted cash that would make even the most jaded petro state accountant blush. In barely a month, Abuja has pocketed almost $3 billion in windfall revenue. If the conflict drags on, the country could rake in $30–$36 billion this year alone. And what has the Tinubu administration done with this unexpected bounty? Why, it has gone on a borrowing binge, of course.
In the past week alone, the National Assembly approved: a $5 billion loan from First Abu Dhabi Bank; a $1 billion UKEF backed loan for Lagos ports; a $6 billion external borrowing package, rubber stamped in under four hours, and a N68.323 trillion budget; the largest in Nigeria’s history. This is not fiscal policy. This is a national credit card with no spending limit. Nigeria’s public debt now hovers around $115 billion, and debt servicing will gulp N20.5 trillion in 2026; more than the budgets of health, education, and infrastructure combined. Yet the government borrows as though it were a teenager discovering online shopping for the first time. One might have expected that a historic oil windfall would inspire restraint. Instead, Abuja behaves like a gambler who wins the lottery and immediately takes out a loan to buy more lottery tickets.
The Senate: From Upper Chamber to Upper Cashier
The Senate’s role in this farce deserves special mention. Once conceived as a check on executive excess, it now functions as a conveyor belt for presidential loan requests. The $6 billion borrowing package was approved with the speed of a fast food order; no debate, no scrutiny, no hesitation. Former Vice President Atiku Abubakar, hardly a stranger to Nigeria’s fiscal melodramas, described the approval as “reckless urgency.” He is being polite. The Senate has not merely abdicated oversight; it has embraced its new role as a ceremonial stamp of approval, a kind of legislative rubber chicken waved over every loan document. One wonders whether senators even bother to read the fine print anymore, or whether they simply check the exchange rate, sigh, and sign.
The Oil Windfall That Will Not Be Saved
Other countries treat oil windfalls as blessings. Norway built a sovereign wealth fund so large it could buy entire countries. Saudi Arabia uses its surpluses to diversify its economy. Even Angola; long mocked for its corruption, has learned to stash away a portion of its oil riches. Nigeria, by contrast, treats windfalls as invitations to spend more, borrow more, and plan less. The Excess Crude Account, once envisioned as a rainy day fund, is now emptier than a politician’s promise after election day. The Sovereign Wealth Fund is a polite fiction. And fiscal discipline is a rumor whispered in the corridors of the Ministry of Finance. The tragedy is not that Nigeria is poor. The tragedy is that Nigeria is mismanaged.
The revised N68.323 trillion budget is a monument to fiscal optimism. It allocates N15.8 trillion to debt servicing; N15.4 trillion to recurrent expenditure, and N32.2 trillion to capital projects, many of them rolled over from previous years because the government failed to implement them. This is not a budget. It is a wish list. The government insists that the spending spree will “stimulate growth,” “unlock infrastructure,” and “stabilize the economy.” These are the same phrases Nigerian governments have used since the 1970s, usually moments before the economy collapses under the weight of its own contradictions.
Borrowing to Service Borrowing
The most farcical element of the Tinubu administration’s fiscal strategy is its reliance on borrowing to service existing borrowing. Nigeria now borrows to pay interest on previous loans, borrows to refinance old debts, borrows to fund recurrent expenditure, and borrows to cover budget gaps. This is not fiscal management. It is a Ponzi scheme with national colors. The administration insists that the debt is “sustainable.” So did Greece in 2008. So did Argentina in 2001. So did Nigeria in the 1980s; right before the IMF arrived with structural adjustment programs (SAP) that Nigerians still curse today.
Nigeria’s economy is a house built on sand: the naira remains fragile, inflation is suffocating households, foreign investors are fleeing, debt service consumes most of national revenue, oil production is unstable and non oil revenue is anemic. And yet, in the middle of this storm, the government has chosen to borrow more; at a moment when it should be saving aggressively. The oil windfall is a gift. But gifts require stewardship. And stewardship requires discipline. Neither is in abundant supply in Abuja.
Conclusion: A Nation at the Edge of a Fiscal Cliff
The expanded budget includes lavish allocations to the judiciary ahead of the 2027 elections, feasibility studies for politically convenient infrastructure, and capital projects that conveniently align with electoral maps. This is not economic planning. It is election year choreography. Nigeria is not being prepared for the future. It is being prepared for the polls.
The Tinubu administration inherited a difficult economy. But it has chosen to make it worse. Instead of using the oil windfall to rebuild reserves, strengthen the currency, reduce borrowing, and stabilize the economy, it has embarked on a reckless spending spree financed by loans that future generations will be forced to repay. Nigeria is earning billions, and saving nothing. And it is borrowing everything. History will not be kind to this moment. Nor will the bond markets. In the end, Nigeria’s tragedy is not that it lacks resources. It is that it lacks restraint. And in Abuja today, restraint is as scarce as electricity.
Business
In The Spotlight
On Friday, Nigeria’s Defence Headquarters confirmed the death of the Commander of the 29 Task Force Brigade in Benisheikh, Borno State, Brigadier General Oseni Braimah, and three other soldiers, following a ruthless attack on the military formation. Though this confirmation calmed initial reports that more than 17 soldiers were killed in the April 9, 2026 attack, it, however, ignited a deeper cause for concern among Nigerians, considering the fact that just about five months earlier, another brigadier general, Musa Uba, was murdered in cruel but avoidable circumstances near Wajiroko, in the same Borno State.
The attack on the military formation was not the only terrorist strike that week. That same Thursday, the devastating news of the soldiers who paid the supreme price had not been fully digested when another report filtered in, at night, that no fewer than eight persons had been killed by gunmen, in Mbwelle village, Bokkos Local Government Area of Plateau State. This was besides the bloodshed recorded in Shanga Local Government Area of Kebbi State on Easter Sunday, where 24 people were killed, according to the Kontagora Catholic Diocese, and in Kebbi and Kwara states, where 49 villagers were reportedly killed on Friday.
Despite the confusion, mourning and grief that followed the killing of these helpless civilians in various communities, described by authorities as some of the deadliest incidents recorded in recent months, the report of the military formation invasion and the killing of soldiers specifically caused panic attacks among citizens and gave a “hopeless situation” slant to the worsening security crisis. And this has become a trend since the beginning of the Boko Haram insurgency in 2009.
It is true that Nigeria’s security forces under the current administration have been dismantling bandit networks and killing scores of terrorists. But the relentless attacks on innocent citizens, which have led to the death of over 10,000 people in two years, and the kidnapping of more than 1,100 people in northern Nigeria, in just four months, appear to have enveloped security agencies’ efforts and boxed the current All Progressives Congress administration into a more precarious corner than previous opposition governments.
A few analysts have tried to compare the security situation under the late former President Muhammadu Buhari with the situation now. While some scored the President Bola Tinubu administration above his predecessor’s, others like Olu Fasan, in his article: “Recurring bloodbath: Nigeria is too fragile, too fractured to be safe”, said, “It has taken Tinubu less than three years in office to achieve a worse security situation than Buhari did in (his) eight years in power.”
I may not directly agree with this notion, but I know that the prevailing economic hardship or widespread poverty in the country, despite significant, growth-targeted policy reforms like exchange rate unification, subsidy removal, and fiscal coordination, can be justifiably linked to rising insecurity.
The Nigerian Institute of Social and Economic Research, in a 2024 study brief, titled: “Insecurity takes the lead as the key driver of poverty in Nigeria”, said, “Once a country experiences conflict and insecurity, it faces a reversal of economic development, which in turn increases the likelihood of further conflict, resulting in a cycle economists refer to as doom-loop. By undermining household livelihood activities on massive scales in Nigeria, increasing insecurity in the last five years has not only intensified poverty in the country, but has also opened up new frontiers of multidimensional poverty across Nigeria.”
Insecurity, according to NISER, drives poverty by disrupting and destroying livelihood activities and by reducing access to basic needs, thereby stifling meaningful improvement in the quality of life in Nigeria. This argument can be better appreciated if one considers how many Nigerians have abandoned leisure or commercial farming, especially in rural areas, owing to rising insecurity.
It would be unfair to pin the blame for this lingering crisis on the current administration; past governments were not also able to do much to stem the tide. But the fact that political IOUs seemed to have trumped competence during the initial formation of President Tinubu’s cabinet inadvertently gave room for unpalatable political treatment of delicate security matters across the states.
The Ministry of Defence, according to analysts, was the worst hit until recently, as analysts found it difficult to decode the consideration behind the choice of the two ministers who were initially saddled with such a priority responsibility. Perhaps, if the issue of security had been given the kind of attention it is being given now, from the beginning of the current administration, the terrorists might not have been this emboldened amid international focus.
The result is that, unlike when Nigeria was ranked the Number One Destination for Investment in Africa for two consecutive years (2012 and 2013), other African countries have, since then, continued to displace the nation, owing to a combination of factors, including accessibility and innovation, economic stability and investment climate, among others.
Of the 31 countries that were tracked in the 2024 edition of the “Where to Invest in Africa” report, published by Rand Merchant Bank and the Gordon Institute of Business Science, Nigeria was ranked as the ninth most viable destination for investment in Africa, behind South Africa, in fourth position; and Ghana, sixth. The 2025 report sadly reflected a further decline for Nigeria, by nine places, to the 18th position.
It doesn’t take an economist to understand that banditry, kidnapping, killings, among other forms of security crisis being witnessed on a large scale in Nigeria, can seriously damage the investment climate and trigger capital flight. Any government that picks the socio-economic well-being of its citizens as Number One on its priority chart must, therefore, go all out to first ensure the security of lives and property, against all odds.
That the Federal Government has published a list of 48 individuals linked to terrorism financing is a step in the right direction. That it has also secured 386 convictions, out of 508 cases in a mass terrorists’ trial, is another feat that can deter others and stem the tide, but politicians must, in the interest of the masses and the well-being of the nation, stop playing politics with this sensitive issue of insecurity.
Rather than mock or blame the APC administration for the current predicament, opposition figures and Nigerians as a whole must converge on the need to be united against this monster. However, the Tinubu administration must also avoid actions or statements that could trigger a revolt at this period. With the economic challenges from almost every angle, Nigerians seem to be constantly on edge.
In March 2014, the APC, then the main opposition party, lambasted the former President Goodluck Jonathan administration for trying to cover up its “incompetence and cluelessness” in tackling the Boko Haram insurgency.
The APC, in a statement signed by Lai Mohammed, its interim National Publicity Secretary at the time, said, “A country that has no discernible counter-terrorism strategy that will clearly identify the multiple means for preventing, responding and defeating terrorist groups, including the alignment of political, military, social and economic instruments and objectives, cannot expect to successfully battle any insurgency.”
Now that the APC is the ruling party, and Nigeria is still not out of the woods, should citizens still agree with the party’s assertion? How the authorities handle the situation will determine the answer. What goes around comes around!
In The Spotlight
Nearly 40 years ago in London, I was invited to dinner by a Nigerian woman I knew in Lagos.
She had described the place in general terms, but I arrived at an upscale home with some serious luxury. She was kind enough to show me around, and following a stylish dinner, she described how she had acquired the place, mentioning headline Nigerian names.
I had no reason to doubt her: some of them called during the evening. I declined her offer to share her conversations with them.
It was my personal introduction to the scale of Nigerian property in the English capital, as she described who owned what or lived where.
While my visits to England at the time were work-related and I had little time to socialise, I did meet several teenage Nigerian students whose parents were glad to send them abroad for education.
They patrolled the streets of London in exotic cars, and I thought it was ironic that, in isolation away from Nigeria, the young ladies were often being manipulated by their fathers’ friends.
In the decades that followed, I read stories of politically exposed Nigerians, particularly state governors, for whom the UK was the first address in money laundering.
On a few occasions, I have alluded to that phenomenon in this column. They acquired expensive homes, cars and even gold phones. One, Diepreye Alamieyeseigha, fled London disguised as a woman. Another, James Ibori, was tried and jailed.
Keep in mind that there have been about 185 governors since May 1999, and that London is nearly always their first port of call.
It is humbling to reflect on what percentage of this number has, in the past 26 years, sunk Nigerian wealth into the soil of England, with considerable swathes lost to middlemen and smooth women.
Remember: in 2006, the then-Minister of State for Finance, Nenadi Usman, criticised governors, saying that they disappeared abroad just days after receiving state allocations and after visiting Bureau De Change operators.
In 2007, a famous Human Rights Watch report, “Chop Fine,” described the case of Rivers State in grim detail.
The problem is that it is not always governors, as demonstrated by the story, “Abuja on Thames,” which appeared in the British monthly, Private Eye, in March 2019. That month, I commented on that story, which involved the astonishing wealth in that country of Paul Ogwuma, a former governor of the Central Bank of Nigeria.
The full Nigerian picture of capital flight, elite consumption, and political patronage was on display when the Panama Papers in 2016 and the Pandora Papers in 2021, two massive international media investigations in which our Premium Times participated, uncovered how the world’s rich and powerful deploy offshore mechanisms to hide their possessions.
As always happens, no Nigerian lost a kobo, let alone a heartbeat, as a result of those investigations, because in Nigeria, crime and hypocrisy quite literally pay.
And then in 2024, a list appeared of 58 deceased Nigerians with unclaimed assets in the UK, as part of a daily-updated “Bona Vacantia” (BV) list, meaning that having remained unclaimed, they are now considered the property of the Crown.
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The Nigerian government does not inform Nigerians about the BV list or the claims process, so those properties are probably lost forever.
Remember also, the case of Nigerian “government” property on the verge of forfeiture in the UK a few years ago. In New York and Maryland, in the US, Nigerian governors and diplomats have left behind a long trail of property issues. In 2012, Alamieyeseigha forfeited $401,931 in traceable assets to the US government when President Jonathan’s government failed to claim them.
And so, the rich continue to flourish, and in January 2026, Tax Policy Associates of the UK published the extensive investigation, ‘Who secretly owns Britain? The hidden offshore owners of £460bn of UK property.’
A report in The Londoner, based on that investigation, peeled back the layers to link the late Herbert Wigwe, the former chief executive of Access Holdings, to about 106 properties. That placed him at No. 7 on a list of “The overseas power players in London’s property market,” with each property registered under shell companies outside the country, leaving none of them directly traceable to him.
While some of these practices are legal, especially on the part of private businessmen, the problem is that Nigeria has, for decades, been burdened by an army of much smaller ants eating away at her. Most of them are pillars of society, either claiming sainthood or praying for it, while the people from whom they amassed their wealth starve to death.
But there is another side: in Nigeria, the Tax Policy Associates investigation, like the arrests of Dariye and Alamieyeseigha and the trial of Ibori, would have been impossible.
“Abuja on Thames” would never have been investigated or published. Not the Pandora Papers. Not the Panama Papers.
Because we are traders. We are either buying or selling. When the aroma of money or power is present, some would sell their very souls. It is why we are where we are.
The system, of course, is in many ways pre-rigged. On real estate matters, we operate a fragmented administrative system with multiple overlapping authorities, incomplete digitisation, and overwhelming opacity. The FCT and state capitals are stories of greed.
This is because the Land Use Act vests all land in each state in the governor (and the President for the FCT). This means that, technically, no one “owns” land outright; one only holds a Certificate of Occupancy. That creates enormous scope for discretionary allocation and corruption, since governors and the FCT minister can grant or revoke rights, and often do.
This is why an FCT minister is a king. He can allocate land to whomever he pleases:
Relatives of the First Lady were thrice removed.
His wife.
Fourth cousins.
Underage children.
Governors, again.
EFCC officials.
ICPC officials.
Code of Conduct Bureau officials.
Girlfriends and their friends.
Supreme Court judges.
Court of Appeal judges.
INEC officials.
Senators.
Top police officers.
Among others, remember the FCT land scam of 2004; the Ministerial allegations involving the current FCT Minister, Nyesom Wike; and the 57 multi-billion-naira properties linked to former Attorney-General Abubakar Malami.
Just imagine what a Tax Policy Associates-style investigation of real estate ownership in Nigeria’s big cities would reveal.
Because in Nigeria, power is deployed into service only when we pray in the mosque or the church. Outside that, power is for the self.
And if you can export that power abroad in funds that belong to the commonwealth, to deprive other Nigerians of it and make you live like a king forever, so much the better!
Sonala Olumhense