Nigeria

Nigeria Rejoins World Energy Council – Wunti Takes the Helm

By Usman Abdullahi Koli

While much of the world’s attention remains fixed on wars, economic uncertainty and geopolitical rivalries, a profound recalibration of the global energy order is underway. It is a shift defined not by headlines, but by the urgent competition to secure supply chains, attract long-term capital, deploy cleaner technologies, and craft the regulatory frameworks that will underpin economic growth for decades.

Increasingly, these decisions are not made within national borders alone. They are forged on international platforms where governments, industry leaders, investors, and researchers exchange ideas, build partnerships, and seek practical solutions to shared existential challenges.

That is why Nigeria’s return to the World Energy Council (WEC) deserves more than a passing mention. This is not merely another diplomatic affiliation. It is the country’s re-entry into one of the world’s oldest and most influential energy leadership forums at a moment when energy security, affordability, sustainability, and investment have become defining issues for every major economy. For Nigeria, Africa’s largest economy and one of its premier energy producers, the significance extends well beyond representation. It offers a strategic aperture to shape global policy discourse while vigorously advancing national and regional interests.

Founded in 1923, the World Energy Council has spent over a century connecting governments, businesses, and researchers across the energy landscape. With national member committees spanning more than ninety countries, it serves as a respected neutral forum for dialogue on the future of energy rather than a regulatory body. Its influence derives from its ability to unite diverse voices to address common challenges, encourage innovation, and promote practical approaches to what it terms the “energy trilemma”: balancing energy security, environmental sustainability, and equitable access. Through flagship initiatives like the World Energy Congress and its authoritative research on global trends, the Council has become an indispensable reference point for policymakers and industry leaders alike.

Nigeria’s renewed membership arrives at a pivotal inflection point. Globally, nations are reassessing their energy strategies in response to climate commitments, geopolitical fractures, and technological disruption. The conversation has moved beyond the traditional metric of production capacity. Today, equal weight is given to resilience, competitiveness, regulatory certainty, and the ability to attract stable, long-term investment. Nations are increasingly judged not only by the resources they possess, but by the institutional strength they build and the policies they pursue.

Few countries illustrate this challenge more vividly than Nigeria. The nation holds some of the world’s largest natural gas reserves, remains a major oil producer, and possesses immense renewable energy potential, particularly in solar and hydroelectric resources. Yet it continues to grapple with persistent deficits in electricity access, transmission infrastructure, financing, and energy poverty. These realities render international engagement a strategic necessity rather than a diplomatic exercise. Participation in the WEC provides Nigeria with a vital conduit to exchange technical knowledge, strengthen institutional cooperation, learn from global best practices, and project African perspectives in conversations that increasingly dictate investment and policy outcomes.

The opportunities created by this renewed engagement are substantial. Membership unlocks access to comparative research, executive-level dialogue, policy networks, and collaborative initiatives that can directly support national reforms. For instance, Nigeria could leverage the WEC’s scenario-building tools to chart optimal pathways for gas monetisation alongside solar expansion, or utilise the Council’s “Energy Trilemma Index” to benchmark its regulatory reforms against peer economies, translating global frameworks into actionable domestic strategy. Backing this strategic push with the full authority of the state, President Bola Ahmed Tinubu offered an unequivocal endorsement of the newly constituted Member Committee. The President, in formally welcoming Nigeria’s admission, reframed the development as a decisive assertion of continental leadership rather than a mere diplomatic courtesy. Capturing the administration’s highest aspirations for the platform, he declared: “Nigeria has joined the World Energy Council to lead, not just participate – to ensure Africa’s voice shapes global energy decisions.”

Steering this strategic re-engagement is a newly constituted Member Committee, featuring representatives from the government, the private sector, academia, and international energy institutions. At its helm, Dr. Bala Maijama’a Wunti has been appointed Chief Executive Officer of the Nigerian Member Committee, and he is very much the man in the picture. Upon his appointment, Wunti captured the essence of this moment with characteristic clarity: “I am honoured to lead WEC Nigeria at a time of profound economic crosscurrents. We will navigate the energy trilemma with pragmatism, mobilising private capital to ensure Nigeria’s energy future is defined not by ideology, but by investability—delivering prosperity that is bankable, just and secure.”

These words are more than a statement of intent; they are a strategic compass. They affirm that Nigeria’s approach to the global energy transition will be grounded in realism, fiscal discipline, and a clear-eyed understanding of what attracts capital and sustains development. Wunti’s emphasis on “investability” rather than ideology signals a mature departure from abstract commitments toward measurable, bankable outcomes—a philosophy that resonates deeply with Nigeria’s immediate needs and long-term aspirations. Wunti is no peripheral figure. He brings a formidable depth of operational and strategic experience from Nigeria’s petroleum industry, having served in senior technical and executive roles, most recently as Chief Health, Safety, and Environment Officer of NNPC Ltd. His professional DNA, forged in operational management, institutional leadership, corporate governance, and multi-stakeholder engagement, positions him uniquely to navigate the complex currents of the global energy transition.

In his new capacity, Wunti’s mandate extends far beyond administration. He is tasked with architecting Nigeria’s engagement strategy: fortifying ties with international partners, driving substantive policy dialogue, and ensuring that Nigerian perspectives are not merely heard, but actively shape global energy governance. His leadership will be critical in translating the Council’s global frameworks into tangible reforms that address Nigeria’s domestic energy paradox: abundant resources coexisting with acute access deficits.

The broader significance of this development, however, transcends any single appointment. Nigeria’s return to the World Energy Council signals a mature recognition that influence in today’s energy landscape is determined as much by ideas, partnerships, and institutional credibility as by natural resource endowments. The countries that will define the future of energy are those that combine resource wealth with sound policy, technological innovation, and sustained international collaboration.

For Nigeria, this renewed membership is a strategic instrument to deepen its contribution to global energy conversations while advancing its own developmental priorities. The platform is now active, and the leadership is in place. The hope ahead, under Wunti’s stewardship, is to convert participation into tangible outcomes: stronger cross-border partnerships, more informed domestic policies, enhanced investment flows, and a more resilient, inclusive energy sector. If that objective is achieved, Nigeria’s return to the World Energy Council will be remembered not simply as an institutional milestone, but as a decisive step in strengthening the nation’s role within an increasingly interconnected global energy system, with Dr. Bala Wunti standing firmly at the centre of that transformation.

Usman Abdullahi Koli wrote via mernoukoli@gmail.com.

Why We Committed N1.5bn To Mass Wedding – Gov Yusuf

By Uzair Adam


Kano State Governor, Abba Kabir Yusuf, has disclosed that his administration spent more than N1.5 billion on the 2026 mass wedding programme organised for 1,500 couples across the state.

The governor said the expenditure was aimed at fulfilling a campaign promise while providing the beneficiaries with financial, household and social support to help them establish their marriages.

Yusuf disclosed this on Saturday while speaking at the wedding ceremony for the 1,500 couples under the state’s mass wedding initiative, popularly known as Auren Gata.

He explained that the programme was designed not merely to facilitate the marriages but also to support the couples as they begin their lives together.

According to him, the mass wedding was among the promises he made to the people of Kano during his campaign across the state’s 44 local government areas ahead of the 2023 general elections.

“Alhamdulillah, to the glory of Allah, today we have continued to fulfil that promise,” he said.

The governor noted that all prospective beneficiaries underwent comprehensive screening before being admitted into the programme.

He said the process included medical examinations, marriage counselling, workshops and seminars aimed at preparing the couples for the responsibilities of married life.

Yusuf stressed that the medical screening was particularly important in safeguarding the health of the couples and their future children.

He further disclosed that each bride received N100,000 as dowry and an additional N100,000 capital grant to enable her start a small-scale business and achieve economic independence.

The beneficiaries, he added, were also provided with household furniture and essential items, including beds and mattresses, as well as foodstuffs and other materials intended to reduce the financial burden of setting up new homes.

The governor urged the couples to regard marriage as an act of worship and to build their homes in accordance with the teachings of the Qur’an and Sunnah.

He advised them to demonstrate patience, fairness and mutual respect, while resolving disagreements peacefully and maintaining understanding in their homes.

“Always remember that marriage is an act of Ibada. Therefore, strive to conduct your matrimonial life in accordance with the teachings of the Holy Quran and the Sunnah of our noble Prophet Muhammad,” Yusuf said.

He prayed for Allah’s blessings upon the marriages and for the couples to be blessed with righteous children who would contribute positively to their families, society and humanity.

Yusuf also expressed appreciation to traditional rulers, Islamic scholars and other guests who attended the ceremony and contributed to the success of the programme.

He specifically acknowledged members of the Kano State Council of Emirs, including the Emir of Kano, Muhammadu Sanusi II, and the emirs of Rano, Karaye and Gaya, for their guidance, prayers and support.

The governor equally thanked Islamic scholars and clerics who travelled from different parts of the country to participate in the programme and counsel the newly married couples.

The 2026 mass wedding programme was implemented across Kano State’s 44 local government areas and was designed to provide selected couples with financial, household and social assistance as they begin their marital lives.

Nigeria’s Public Debt Rises to N159.3trn in One Year

By Sabiu Abdullahi

Nigeria’s total public debt has increased to N159.35 trillion as of March 31, 2026, according to the Debt Management Office (DMO).

The latest debt portfolio report released by the agency showed that the figure represents an increase of N9.96 trillion, or 6.7 per cent, from the N149.39 trillion recorded at the end of the first quarter of 2025.

Despite the yearly increase, the country’s debt stock remained almost unchanged from the N159.28 trillion recorded at the end of December 2025.

On a quarterly basis, the debt rose by N75.51 billion, which represents a 0.05 per cent increase.

The DMO report showed that domestic debt accounted for N87.4 trillion, representing 54.85 per cent of the total debt, while external debt stood at N71.95 trillion, or 45.15 per cent.

Domestic debt increased by N8.64 trillion, or 11 per cent, compared with the N78.76 trillion recorded in March 2025.

External debt also recorded a year-on-year increase of N1.32 trillion, representing 1.9 per cent, from N70.63 trillion in the first quarter of 2025.

A comparison with the December 2025 figures showed that domestic debt rose by N2.55 trillion, or three per cent, from N84.85 trillion.

External debt, however, dropped by N2.48 trillion, or 3.3 per cent, from N74.43 trillion recorded at the end of December 2025.

The DMO said the Federal Government accounted for N82.88 trillion of the domestic debt, while state governments and the Federal Capital Territory contributed N4.52 trillion.

In dollar terms, the country’s total public debt stood at $114.95 billion as of March 31, 2026. This compares with $97.24 billion recorded in March 2025.

According to the DMO, the external debt was converted to naira based on the Central Bank of Nigeria’s official exchange rate of N1,386.2156 to the dollar as of March 31, 2026.

The development came after the National Assembly approved President Bola Tinubu’s request to obtain $6 billion in external borrowing on March 31.

Many Feared Trapped As Kano Building Collapses, 16 Rescued

By Sabiu Abdullahi

Sixteen people have been rescued after a residential building collapsed in the Dan Dishe area of Kwanar Yashi, Fagge Local Government Area of Kano State.

Several other people are feared to remain trapped under the debris, according to reports.

The Kano State Fire Service said its emergency response team was alerted to the incident at about 4:32am on Saturday and personnel were immediately dispatched to the location.

Saminu Abdullahi, spokesperson for the state fire service, said the collapsed structure measured about 20 by 30 feet.

He said rescuers pulled 16 people from the rubble, including three children who were found unconscious.

The children were identified as Affan Yusuf, five; Hassana Yusuf, seven; and Ummulkursum Yusuf, nine months.

“The Kano State Fire Service wishes to inform the general public that at about 4:32 am today, Saturday, 8 August 2026, the Service’s Emergency Response Unit received an emergency call from one of our staff, Aminu Sani Warure, reporting the collapse of a building at Dan Dishe, Kwanar Yashi, Fagge Local Government Area,” the statement reads.

“Upon receiving the report, men of the Service from the Headquarters were immediately mobilized to the scene. On arrival, they discovered that a residential building of about 20 × 30 ft had collapsed.”

The fire service said the reason for the collapse had not been established, adding that an investigation was underway.

“The Kano State Fire Service urges members of the public to observe all necessary safety precautions, particularly during the rainy season, to prevent similar incidents,” it added.

The latest incident occurred less than one month after a three-storey building under construction collapsed in Nasarawa Local Government Area of Kano State.

One person died in that incident, while three others were rescued.

13 Children Died In Captivity, Survivor Says After Kwara Kidnap Victims’ Rescue

By Sabiu Abdullahi

A survivor of the mass abduction of residents in Kaiama Local Government Area of Kwara State has disclosed that 13 children died during their six months in captivity.

Saliu Amira, a nurse and one of the 163 victims rescued by security agencies, said the children died under difficult conditions while 12 others followed their abductors during the period.

She also described the poor feeding conditions faced by the victims, who were reportedly given little food throughout their captivity.

“The kind of food that they are giving us over there… The day that we reached there, they just dropped guinea corn for us with salt and Maggi,” Amira said.

“They left us inside the river; the children that died are almost 13, and those people that followed them are 12 in number; that’s 25.”

The victims were rescued through a joint operation by security agencies, according to Nicholas Rume, commander of the 22 Armoured Brigade.

“Today I am happy to introduce to you the people whom, through the combined efforts of the security agencies, we have been able to rescue,” he said.

He commended other security agencies for their contribution to the operation.

“Thank you to the other security agencies who have been very helpful in all the efforts we’ve been making; today is an example of the synergy that exists within security agencies in the country.”

Kwara State Governor Abdulrahman Abdulrazaq received the rescued victims in Ilorin on Friday and praised the security agencies for securing their release.

The governor said the establishment of a new army brigade in the state would further improve security across Kwara.

He also disclosed that 46 of the rescued persons had been admitted to a government hospital for medical care.

“I have since directed that the appropriate medical attention be extended to everyone to ensure their well-being. Prior to this time, our government has extended various forms of support to the rural community,” he said.

The victims were abducted on February 3 after armed men attacked Woro, Nuku and other communities in Kaiama LGA.

The attacks reportedly resulted in the deaths of at least 75 people and forced several residents to flee their communities. Many communities were also severely affected by the attacks.

Although the precise number of people abducted was initially unclear, reports indicated that about 170 people, including women and children, were taken.

The Kwara State Government announced on August 5 that the victims had been released after spending about six months in captivity.

Lagos Arrests Suspect Over Alleged Vandalism of Road Barrier

By Sabiu Abdullahi

The Lagos State Government has arrested a man accused of vandalising a concrete road barrier at Kosofe Bus Stop, Mile 12, along the Ikorodu Road.

The barrier was installed to stop pedestrians from crossing the expressway through unauthorised points.

The state Commissioner for the Environment and Water Resources, Tokunbo Wahab, disclosed the arrest in a post on X on Saturday.

Wahab said the suspect was apprehended during monitoring and enforcement operations conducted at the location.

“During monitoring and enforcement operations yesterday, our team apprehended a suspect at Kosofe Bus Stop, Mile 12, along the Ikorodu Road, for vandalising a concrete barrier installed to prevent pedestrians from crossing the expressway at unauthorised points,” he wrote.

He said the suspect was caught removing components of the structure that are essential to its stability.

“The suspect was found deliberately removing iron rods, cables, steel reinforcements, and other critical structural components that contribute to the stability and effectiveness of the concrete barrier.

“The suspect has been arrested and will be prosecuted in accordance with the law. This enforcement action underscores the Lagos State Government’s commitment to protecting public infrastructure and ensuring the safety of all road users and residents”

The commissioner said the arrest was part of the state government’s continued efforts to protect public infrastructure from vandalism.

The development comes amid concerns over the persistent removal of metal components from public structures across Lagos. Authorities have warned that such acts could weaken infrastructure, endanger road users and result in losses of public funds.

The latest arrest also follows the recent apprehension of 27 suspected hoodlums over the alleged vandalism of a bridge linking Festac Town with Alakija.

Governor Babajide Sanwo-Olu had ordered the arrest and prosecution of persons suspected of vandalising the bridge.

Perhaps Preventive Health is a Strategy for Health Financing

By Oladoja M.O

I won’t even sugar coat. There really is a quiet arithmetic we seem to forget whenever we speak about financing health, and that is; “money not spent is money saved”. It sounds almost too simple to be taken seriously in policy circles, yet it is perhaps a foundational principle of any sustainable system, economic or otherwise.

In recent years, the conversation around health financing has become so popular yet increasingly narrow, that whenever it’s being discussed, the theme of bigger budgets, expanded insurance schemes, increased donor flows, and new funding mechanisms is the only thing in lens. Though all of these are unarguably important, they are only one side of the equation, as financing health is not merely about how much money enters the system, but also about how much unnecessary expenditure we can prevent from ever occurring. And this is where preventive health quietly stands as one of the most underutilized financing strategies.

Often preached, prevention is prevalently taken as some moral or clinical responsibility, something good to do for public health, but not worth framing as a fiscal strategy. Yet, at its core, prevention is economic discipline. 

I don’t think it should be difficult to interpret that a well-prevented illness is not just a life improved; it is a cost avoided, a drug regimen that was never needed, and in many cases, a financial burden that never fell on a household.

In a country where out-of-pocket expenditure still defines access to care for many citizens, this distinction matters deeply. Because when people stay healthier for longer, they spend less on treatment. When communities adopt preventive behaviors, the strain on health facilities reduces. When systems prioritize early detection and risk reduction, the cost curve bends—not because we spent more, but because we needed to spend less.

This is not an argument against mobilizing more funds for health. On the contrary, it is a call to think more intelligently about what “financing health” truly means. Generating revenue is one part. Structuring systems efficiently is another. And, crucially, reducing avoidable expenditure must sit at the center of that conversation.

Interestingly, this broader view aligns with deeper conversations around governance and federal structure. True federalism, as many have argued, is not just about distributing resources but about enabling systems to function efficiently at all levels. The recent legislative developments in that direction are, for once, a step that deserves cautious commendation. It suggests that perhaps we are beginning to think beyond surface-level reforms and towards more grounded, structural solutions.

But policy frameworks alone will not carry this shift. Preventive health requires something more subtle: a cultural and systemic reorientation. It asks us to value the absence of disease as much as the treatment of it. It asks governments to invest in awareness, early screening, community-based interventions, and primary care, not as afterthoughts, but as core financing strategies.

It also demands that we confront an uncomfortable truth that reactive healthcare is expensive. A system that waits for illness to occur before acting will always spend more than one that works to prevent it. Hospitals will remain congested, costs will continue to rise, and households will keep absorbing financial shocks that could have been avoided.

On the other hand, a preventive-focused system redistributes that burden, spreading cost-saving across individuals, communities, and institutions. It is quieter, less dramatic, and often less politically celebrated, but far more sustainable.

A bit further to that is the human dimension that cannot be ignored. Financial protection in health should not just be about insurance coverage or subsidies; it is about reducing the likelihood that people will need to spend in the first place. Every avoided illness is, in a real sense, a preserved livelihood.

So, perhaps it is time we expanded our definition of health financing. Beyond budgets and allocations, beyond policies and programs, we must begin to recognize prevention as a financial instrument in its own right.

Because in the end, the most efficient health system is not the one that spends the most, but the one that needs to spend the least.

And that is an arithmetic we can no longer afford to ignore.

Oladoja M.O (Oladoja Mark Olamilekan) writes from Abuja and can be reached at: mayokunmark@gmail.com.

Residents Hail Tinubu’s Infrastructure Drive as Media Team Inspects Projects

By Abdullahi Mukhtar Algasgaini

Residents of Benue State have expressed strong support for President Bola Ahmed Tinubu’s infrastructure development agenda as a presidential media team concluded an inspection tour of key federal and state projects across the region on Thursday.

The delegation, led by the Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga, inspected several ongoing and completed infrastructure projects, including the Buruku-Logo Bridge, the Wurukum Overhead Bridge in Makurdi, and the 22-kilometre Makurdi-Gboko Road, which forms part of the Phase II Abuja-Keffi-Akwanga-Lafia-Makurdi Expressway.

The tour, organised by the Renewed Hope Ambassadors with over 40 editors and journalists in attendance, aims to independently assess and document the implementation of key projects under President Tinubu’s administration.

Speaking during the inspection, Onanuga emphasised that the Buruku-Logo Bridge is one of five federal bridges under construction in Benue State, demonstrating the administration’s commitment to utilising borrowed funds for productive infrastructure development.

“This bridge in particular is the fifth bridge the Federal Government is building in Benue State. I think as Nigerians you see that the government has been accused of so many things including taking loans. You can now see where the money is going,” Onanuga stated.

He noted that the 1,754-metre bridge, expected to be completed by December 2027, would reconnect previously isolated communities, reduce travel time, and improve market access for farmers across Benue, Taraba, and Adamawa states.

Residents of the host communities expressed appreciation for the projects, describing the bridge as a “life-saving intervention” that would end years of dangerous river crossings and reduce frequent boat accidents during rainy seasons.

The inspection also covered the 25.6-kilometre Captain Dan Road to the Tor Tiv Palace, the Food Basket Brewery Limited, and the federally-funded rehabilitation of the Buruku-Gboko Water Treatment Plant at Ameladu Headworks.

Benue State Deputy Governor, Dr Samuel Ode, who accompanied the team, commended the Federal Government’s investments and expressed confidence that residents would support President Tinubu’s re-election bid in 2027.

“Actually, this road serves as the gateway between the north of the country and the south. Before now we used to have a heavy gridlock here especially during festivities, so the governor of Benue State approached Mr. President for us to have an overhead bridge here,” Ode said regarding the Wurukum Overhead Bridge project.

“The President in his magnanimity, graciously approved the construction of this overhead bridge. So work has commenced, moving at a very high speed and the people of Benue are happy.”

The tour showcased projects financed through the Renewed Hope Infrastructure Development Fund, with officials assuring that funding remains adequate for timely completion.

Cemetery Manager, Accomplice Arrested Over Alleged Corpse Exhumation, Casket Theft

By Sabiu Abdullahi

The Akwa Ibom State Police Command has arrested two men, including the manager of Mbiokporo Cemetery, over an alleged plot to exhume a recently buried corpse and steal its casket for financial gain.

The suspects were identified as Nsikak Effiong and Elijah Matthew Edet, the manager of Mbiokporo Cemetery in Nsit-Ibom Local Government Area of the state.

The command’s Public Relations Officer, Timfon John, disclosed the arrests in a statement issued to journalists in Uyo on Thursday.

According to the police, the incident occurred at about 11:30 p.m. on Monday after a vigilant operative noticed two men moving a casket on an unregistered motorcycle within the cemetery.

The operative reportedly confronted the men, prompting one of them, identified as Effiong Asuquo, to flee. His accomplice, Nsikak Effiong, was apprehended and handed over to the police.

The police said questioning of Effiong led to the discovery that the suspects had allegedly dug up a recently buried corpse, removed the body from its casket and taken away the casket for sale.

The police subsequently recovered the empty casket and the unregistered motorcycle allegedly used to transport it.

“During interrogation, Nsikak Effiong confessed that he and his accomplice had unlawfully exhumed a freshly buried corpse, removed the corpse from the casket, and stolen the casket with the intention of selling it for financial gain.

“The police recovered the empty casket as well as the unregistered motorcycle used in conveying the stolen property, while investigations were immediately expanded to uncover the full circumstances surrounding the crime and identify all persons connected to the act.

“Further investigation yielded another breakthrough on August 5, 2026, at about 5:00 p.m., with the arrest of one Elijah Matthew Edet, the manager of Mbiokporo Cemetery. During interrogation, the suspect admitted to conspiring with the grave diggers in the commission of the offence and stated that it was his first involvement in such criminal activity,” the statement said.

The police said Edet was arrested on Wednesday after investigators expanded their inquiry into the alleged offence.

The Commissioner of Police, Baba Azare, condemned the incident and described it as barbaric, sacrilegious and morally reprehensible.

He also directed the police to conduct a comprehensive investigation to identify everyone linked to the alleged crime and ensure that suspects face prosecution in line with the law.

Azare commended the operative whose vigilance led to the interception of the suspects and recovery of the casket.

The command urged residents to remain alert and provide the police with credible information that could assist in preventing crime.

The police said investigations were still ongoing, while efforts were underway to arrest the fleeing suspect.

Court Remands Suspect Over Alleged N800m Suntrust Bank Hack

By Sabiu Abdullahi

The Federal High Court in Lagos has ordered the remand of a 47-year-old man, Ugochukwu Eze, popularly known as “Amazon,” over allegations of hacking into Suntrust Bank Plc’s computer system and diverting more than N800 million.

Eze was arraigned before Justice Friday Ogazi on Thursday by operatives of the Department of State Services over alleged cybercrime and money laundering offences.

The DSS, through its counsel, M. Bajela, told the court that Eze and other suspects still at large allegedly conspired between 2023 and 2026 to interfere unlawfully with the bank’s computer system.

The prosecution alleged that the scheme resulted in the diversion of over N800 million belonging to Suntrust Bank into several accounts.

Bajela further accused the defendant of concealing and transferring funds allegedly connected to cyberattacks on financial institutions. He also alleged that Eze unlawfully accessed critical national financial information infrastructure.

The prosecution said the alleged offences violated Sections 5, 6(1), and 8 of the Cybercrimes (Prohibition, Prevention, etc.) Act, 2024, as well as Sections 10, 20, and 18(2)(d) of the Money Laundering (Prevention and Prohibition) Act, 2022.

Eze, however, pleaded not guilty to the charges.

After the plea, the DSS asked the court to schedule the matter for trial and remand the defendant pending the determination of the case.

Defence counsel, E. Afrogha, told the court that a bail application had already been filed. He also informed the court that Eze had spent more than one month in DSS custody.

Bajela responded that the prosecution had not received the bail application. He added that the prosecution’s witnesses were prepared to testify.

Justice Ogazi subsequently adjourned the case until August 24 for the hearing of the bail application.

The judge also ordered that Eze be remanded in the custody of the Nigerian Correctional Service pending the hearing and determination of his bail application.

One of the charges against the defendant reads:

“That you, Ugochukwu Eze, alias Amazon, sometime between 2023 and 2026 in Lagos and other places within the jurisdiction of this Honourable Court, unlawfully hindered the function of Suntrust Bank Plc’s computer system and, in the process, fraudulently diverted over N800m belonging to the bank,”

The prosecution said the alleged offence is punishable under Section 8 of the Cybercrimes (Prohibition, Prevention, etc.) Act, 2024.

The case was adjourned to August 24 for the court to consider the defendant’s request for bail.