News
Nduka Obaigbena Reportedly Goes into Self-Exile Amidst $225 Million Loan Scandal
Nduka Obaigbena, the flamboyant publisher of ThisDay and founder of Arise News, has reportedly left Nigeria for the United Kingdom amidst allegations of a $225 million loan scam linked to his company, General Hydrocarbon Limited (GHL). This latest scandal comes as the Economic and Financial Crimes Commission (EFCC) intensifies its investigation into the matter, further complicating Obaigbena’s already controversial legacy.
The Alleged Scam
The EFCC is probing a series of financial transactions involving GHL and loans obtained from First Bank of Nigeria Plc. The $225 million facility was allegedly misappropriated, raising questions about governance and accountability within GHL. This development coincides with a separate 13-count charge filed by the EFCC against Honeywell Group Chairman Chief Oba Otudeko and former First Bank Managing Director Olabisi Onasanya, over a related N12.3 billion loan fraud.
While the details of Obaigbena’s involvement in the alleged fraud remain under investigation, his departure to the UK is seen as an attempt to avoid legal proceedings. Sources close to the EFCC indicate that efforts to secure his cooperation have been unsuccessful, prompting a manhunt that has yet to yield results.
A History of Controversies
This is not the first time Obaigbena has sought refuge abroad to avoid prosecution. During the regime of General Sani Abacha, he went into exile, only returning after the dictator’s death. Similarly, he fled Nigeria during former President Olusegun Obasanjo’s administration, reappearing during late President Musa Yar’Adua’s tenure.
In 2015, Obaigbena was implicated in the $2.1 billion arms procurement scandal involving former National Security Adviser Sambo Dasuki. It was revealed that GHL received N670 million in diverted funds, allegedly for media coverage. Obaigbena temporarily left the country following this revelation but negotiated his return under the administration of Muhammadu Buhari.
Recent Political Alignments and Fallout
Obaigbena’s political maneuvers have often placed him in precarious situations. His alignment with former Central Bank Governor Godwin Emefiele during the latter’s failed presidential ambitions reportedly strained his relationship with the current administration of President Bola Tinubu. This political fallout is believed to have contributed to his decision to leave Nigeria yet again.
The Current Situation
Sources suggest that Obaigbena has no immediate plans to return to Nigeria, preferring to remain in the UK as the EFCC continues its investigation. The self-imposed exile comes at a critical time for his media empire, with ThisDay and Arise News facing scrutiny over their financial dealings and alleged political biases.
The scandal raises broader questions about the intersection of media, politics, and corporate governance in Nigeria. As one of the country’s most influential media moguls, Obaigbena’s actions—and their consequences—are likely to have lasting implications for Nigeria’s financial and media sectors.
Implications for Governance
This case underscores the EFCC’s growing focus on tackling high-profile financial crimes, particularly those involving influential figures in the corporate and political spheres. However, it also highlights the challenges of holding powerful individuals accountable, especially when they leverage international connections to evade prosecution.
Arbiterz will continue to monitor developments in this case, offering in-depth analysis of its implications for governance, the financial sector, and Nigeria’s evolving media landscape.
The Minister of the Federal Capital Territory (FCT), Barr. Nyesom Wike, has said President Bola Ahmed Tinubu is fully aware of his “Rainbow Coalition” and all his political activities.
Wike made the declaration on Tuesday night while speaking on Arise News Prime Time.
“There is nothing that I do that I don’t tell Mr. President,” he stated.
The FCT Minister said he was mobilizing support across party lines for the reelection of President Tinubu in 2027 under what he termed a “Rainbow Coalition.”
He has consistently maintained that his support is solely for the President, and not for the All Progressives Congress (APC), as a party.
Wike, a chieftain of the Peoples Democratic Party, (PDP), said his actions are not done in secret, stressing that the President is carried along at all times.
Wike also said he is not answerable to governors elected on the platform of the APC.
“I’m not answerable to APC governors.
“If people fail to learn from other people, they don’t grow. I took 31 days to commission projects in the FCT and they are not happy,” he added.
Turning to the Governor of Imo State, Hope Uzodimma, Wike said: “Hope Uzodimma should be lucky that I’m not in the APC. Hope fears for nothing.
“When I look at the APC governors who held the press conference, I see some people who are smart but politically lazy. Hope Uzodinma was the governor of Imo State, yet President Tinubu could not secure 10% of the votes there.
“Hope in his own state, Imo state, he was Governor. President Tinubu didn’t get 10% votes in the 2023 elections, but he took two senators and Labour Party took one senator. Is he saying Imo people were confused, or were they not confused?
“The governors of Osun, Anambra and Abia States are supporting the President reelection. Won’t they still support the candidates of their parties in other elections? So where is the confusion?”
Speaking about Rivers State, the Minister said; Becauseof our rainbow coalition, we no longer have Rivers of blood. There is no litigation on party candidates in Rivers State, unlike Imo State.”
When asked where else in the South-South the President can win, the Minister replied: “That can happen in Bayelsa State. The whole PDP there is working for the President. The founder of the NDC is not the founder of Bayelsa.”
“As I sit here today, I will tell you that the President will win in the FCT,” he added.
Federal Capital Territory FCT minister Nyesom Wike has said the Governor of Imo State, Hope Uzodinma and his cohorts are politically lazy.
Wike who is in Spain made this assertion during an ongoing interview with Arise tv.
He said all they said during a press briefing is neither here nor there.
He went memory lane saying, “Hope supported Ahmad Lawan during APC Presidential primaries and TInubu lost the election in his state.
Details shortly….
The Academic Staff Union of Universities (ASUU) has declared a total and indefinite strike across Lagos State-owned universities, citing the failure of the state government to implement key provisions of its 2025 agreement with the Federal Government.
The strike affects Lagos State University (LASU), Lagos State University of Education (LASUED), and Lagos State University of Science and Technology (LASUSTECH) and takes effect immediately.
ASUU’s Joint Campus Group covering the three institutions announced the industrial action in a statement on Tuesday, following the expiration of a 14-day ultimatum issued to the Lagos State Government on August 31.
According to the union, the ultimatum expired without a satisfactory resolution or a concrete commitment from the government to address its demands.
The union said its final warning on September 10 had made it clear that “silence is no longer an option,” but the government failed to initiate meaningful discussions before the September 13 deadline.
“ASUU Joint Campus Group comprising ASUU-LASU, ASUU-LASUED, and ASUU-LASUSTECH hereby declares a total, comprehensive, and indefinite strike action effective immediately,” the union said.
Why ASUU Is Striking
At the centre of the dispute is ASUU’s demand for the full domestication and implementation of the December 2025 agreement between the union and the Federal Government in all Lagos State-owned universities.
The union specifically demanded the implementation of provisions covering the Consolidated Academic Tools Allowance (CATA) as well as welfare protections for serving and retired academic staff.
ASUU said it arrived at the decision “with a heavy heart,” acknowledging that the strike could disrupt the academic calendar and affect students, parents and university administrators.
Addressing students, the union said the action was ultimately aimed at protecting the quality and sustainability of higher education in the state.
“This fight is fundamentally about preserving the quality and sustainability of your education,” it said, arguing that a demoralised academic workforce could not deliver the standard of education students deserved.
The union urged students to remain calm, peaceful and law-abiding while efforts continued to secure what it described as a lasting resolution.
It also acknowledged the concerns of parents and guardians over possible delays to their children’s education, saying its patience had “been tested and toyed with over the last eight months.”
Strike Not Against University Management
ASUU said the industrial action was not directed at the management of the three universities.
“This decision is by no means an adversarial action against your office,” the union said, urging the university administrations to understand the action as an effort to secure better working conditions for academic staff.
It commended the managements of LASU, LASUED and LASUSTECH for their efforts towards domesticating the agreement.
The union, however, accused the Lagos State Government of continued inaction and failure to implement agreements that it said had already been adopted by some neighbouring states.
National ASUU Backs Action
ASUU said the strike had the backing of its national leadership, which it said had supported the process from the initial correspondence to the university authorities, governing councils and the Visitor, through to the issuance of the 14-day ultimatum.
The union urged the Lagos State Government to follow the example of other state governors who had intervened to resolve similar disputes in their universities.
It also called on traditional rulers, religious leaders, alumni associations, civil society groups and other stakeholders to support its campaign for what it described as the rescue of education in Lagos State.
The strike, ASUU said, would remain in force until meaningful negotiations produce a satisfactory resolution and the Lagos State Government signs, domesticates and fully implemented.
Wike: Tinubu privy to my rainbow coalition, says I’m not answerable to APC governors
2027: Uzodinma and his cohorts are politically lazy- Wike
ASUU Shuts Down Lagos State Universities, Declares Indefinite Strike
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