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ICPC arraigns Federal Mortgage Bank ex-CEO ‘for diverting $65m housing fund’

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The Independent Corrupt Practices and other related offences Commission (ICPC) has arraigned Gimba Ya’u, former chief executive officer, of the Federal Mortgage Bank of Nigeria (FMBN), for allegedly diverting $65 million housing fund.

The money was for the construction of 962 units of residential houses at the Goodluck Jonathan Legacy City in Kubwa, a satellite town in Abuja.

Ya’u was arraigned alongside Bola Ogunsola, ex-FMBN director, and Tarry Rufus, managing director of T-Brend Fortunes Nigeria Limited, before Justice James Omotosho of the federal high court in Abuja, on Tuesday.

The ICPC, in a five-count charge marked FHC/ABJ/CR/333/24, accused the trio of contravening the public enterprises regulatory commission act and the money laundering (prevention and prohibition) act, 2022.

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The ICPC accused Ya’u of authorising the payment of N3.78 billion to Good Earth Power Nigeria Limited, a contractor “lacking execution capacity”.

It added that the project remains incomplete “as of today thereby amounting to economic adversity for the bank and in violation of Section 68(1) of the public enterprise regulatory commission act, CAP P39, laws of the federation, 2004”.

The commission alleged that the project’s decade-long incompletion has incurred substantial financial losses for the bank.

The ICPC also accused the defendants of securing a N14 billion loan from Ecobank Nigeria PLC in 2012 for the project and mismanaging the funds.

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One of the charges also detailed how the defendants allegedly converted N991 million into $3.55 million and “handed it in cash to Jason Rosamond, a foreign associate,” who is reportedly at large.

The defendants, however, pleaded not guilty when the charges were read to them.

Following their plea, Omotosho granted them bail on liberal terms and adjourned the trial to February 6, 2025.

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Wike Slams Cardinal Onaiyekan over Alleged Political Bias in 2023 Elections

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Federal Capital Territory (FCT) Minister Nyesom Wike has challenged the impartiality of Cardinal John Onaiyekan, accusing the Archbishop Emeritus of Abuja of taking sides during the 2023 general election.

Speaking during a media parley on Tuesday, Wike addressed the recent clash between the Presidency and Onaiyekan following the Catholic Bishops’ Conference of Nigeria’s (CBCN) closed-door meeting with President Bola Tinubu.

After the meeting, Onaiyekan publicly suggested that aides were painting a “rosy picture” for the President while he remained focused on 2027—a statement the Presidency criticized as an abuse of privilege.

Wike argued that religious leaders undermine their credibility when their commentary is purely negative.

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While acknowledging that constructive criticism is valid, the minister insisted that leaders must also recognize government achievements to remain objective.

He said while it was appropriate to criticise the government where necessary, leaders should also recognise areas where progress had been made.

“If a religious leader is seen taking a side, it becomes difficult for people to see their comments as helpful. Onaiyekan’s political leanings in 2023 were not hidden.

“I am aware of the position of Cardinal Onaiyekan; all of us know, it’s not hidden, whom he supports; everybody knows that”.

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“It’s not every time you say things are bad; nobody has heard you say the government has done this well.

“The point I am trying to make is that, as a leader, commend the government when it has done well in certain areas; criticise but acknowledge areas of progress ‘but you should improve in these other areas.”

He concluded that consistent, one-sided criticism naturally leads the government to view such remarks as politically motivated rather than objective advice.

“It’s not every time you say things are bad; nobody has heard you say the government has done this well”, Wike said.

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President Tinubu should provide primary and secondary school details–ADC chieftain, Kalu

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African Democratic Congress (ADC) chieftain Kalu Kalu has challenged President Bola Ahmed Tinubu to publicly provide details of the primary and secondary schools he attended following the release of presidential candidates’ personal particulars and credentials by the Independent National Electoral Commission (INEC) ahead of the 2027 general election.

Speaking on Channels Television’s Politics Today on Monday, August 3, 2026, Kalu queried the educational information submitted by the President, arguing that Nigerians deserve a clearer account of his academic background.

The ADC chieftain said his concerns were based on details contained in the nomination documents submitted to INEC, which he claimed raised fresh questions about Tinubu’s educational history.

President Tinubu’s failure to include details of his primary and secondary school education in the educational qualifications section of his INEC documents has sparked renewed public discussion over his academic records.

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Kalu also referred to documents allegedly submitted by Tinubu during the 2022 election cycle, claiming that the President listed a National Youth Service Corps (NYSC) certificate among his credentials. He questioned the name and details contained in the document, alleging that they required further clarification.

According to him, the issues surrounding the President’s academic records should be addressed publicly to ensure transparency.

“Even in 2022, in the INEC document he submitted, he claimed he had a National Youth Service Corps (NYSC) certificate. And the name on that certificate was Bola Adekunle Tinubu. So where did he get ‘Adekunle’ from? He claimed he graduated, but the certificate was forged,” Kalu said.

The claims have added to ongoing public debate over the educational qualifications and eligibility of political candidates ahead of the 2027 presidential election.

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Wike: Tinubu Only Leader With Courage to Fix Nigeria Now

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Minister of the Federal Capital Territory (FCT), Barr. Nyesom Wike, has declared that President Bola Tinubu remains the only credible leadership option for Nigeria, insisting that no other potential presidential contender has demonstrated the courage or capacity to confront the country’s long-standing economic challenges.

Speaking at his monthly media briefing on Tuesday in Abuja, Wike defended Tinubu’s economic reforms, particularly the removal of petrol subsidy, describing the decision as the boldest taken by any Nigerian president in decades.

According to him, while the reforms have imposed temporary hardship on Nigerians, they have strengthened the finances of state governments, improved infrastructure funding and ended the era when states depended on bank loans to pay workers’ salaries.

“Asiwaju is the only person we have now. He has not done everything, and nobody says he has, but he has shown the courage to take decisions others refused to take. Give him credit for that,” Wike said.

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The minister argued that Nigerians should not expect an economy weakened over many years to recover within a short period.

“When problems have accumulated for over 15 years, people expect them to be solved in one year. It doesn’t work that way. Healing takes time, but it will happen,” he said.

Wike described the fuel subsidy regime as “a cancer,” recalling that as governor, he had to rely on bank borrowing to meet salary obligations because of declining allocations to states.

“The fuel subsidy consumed over ₦3 trillion at a time. Today, states receive more money. Pensioners are being paid, governors no longer queue before bank managers to borrow money just to pay salaries, and there are more resources for infrastructure,” he said.

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He maintained that leadership is defined by the willingness to make difficult decisions rather than by popular sentiment.

“Everybody agreed that subsidy was a scam, but no president had the political will to remove it. President Tinubu took that decision. No decision is 100 per cent perfect, but leadership is about taking responsibility,” he added.

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