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Ribadu Denies Calling Tinubu, Akume, Kalu Thieves Who Stole From Public Treasury

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The National Security Adviser (NSA), Nuhu Ribadu, has denied ever tagging President Bola Tinubu as a corrupt public official.

Ribadu, in a letter through his lawyers, also denied ever accusing Senator George Akume and Senator Orji Uzor Kalu of stealing from the public treasury.

The NSA made the clarification while responding to an allegation that while he was the chairman of the Economic and Financial Crimes Commission (EFCC), he labelled the three politicians as governors in Nigeria who stole most from the public treasury.

Ribadu made the denial in response to a TikTok video by the leader of Northern Star, Hajia Naja’atu Muhammad, who accused the NSA of going back to his vomit by serving in Tinubu’s presidency after initially accusing him of corruption when he was EFCC chairman.

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He maintained that he had never privately or publicly accused the three leaders of corruption.

Ribadu, in the letter signed by his lawyer, Ahmed Raji (SAN), demanded a public apology and retraction within seven days from Muhammad or risk further legal action.

The letter reads: “Clearly, in the text of your recording you stated that when our client served as the Chairman of the Economic and Financial Crimes, EFCC, he allegedly named President Bola Tinubu, alongside Sen. George Akume and Sen. Orji Uzor Kalu (all former Governors, and in that order) as the governors in Nigeria who stole the most from public treasury.

“You also stated that today, our client who once held the above odious view about President Tinubu has turned around to be his staunchest defender; especially, with regard to what you stated to be the government’s agenda to silence voices of dissent to the government, citing the alleged arrest of a certain Prof. Usman Yusuf as an example.

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“You also stated that our client’s alleged attitudinal change towards President Tinubu means that he has either become a liar or that he lied when he allegedly described President Tinubu, Sen. Akume, Sen. Kalu and other governors as thieves.

“Privately or publicly, our client has never expressed the above viewpoint about President Tinubu and/or Senators George Akume and Orji Uzor Kalu, which you attributed to him.

“In fact, our client has never held such a viewpoint about the President; hence, it came as a complete surprise to him when his attention was drawn to the aforesaid publication by you against him.

“In the foregoing premise, our client hereby challenges you to provide evidence of your allegations therein against him; which have cast him as double-faced, duplicitous and deceitful in the eyes of right-thinking members of the society.

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Although masked as a clarion call to the North to rise up to your perceived injustice against the North by the government of the day, your publication is also inciteful of violence towards our client. Given this far-reaching ramification of your publication, our client will not sit back and watch his hard-earned reputation and goodwill destroyed by your malicious decision to not only lay false allegations against him, but also, to cause the same to be published for the world’s attention.

“Your intention to bring our client to public ridicule, opprobrium, scorn and shame etc., is laid bare when it is considered that you deliberately caused same to be published on social media, where it has since gone viral.

Surely, the damage occasioned to our client by your deliberate but ill-advised action is unquantifiable.

“However, our client will be assuaged if you retract the said publication and tender an unreserved public apology to him in at least five national daily newspapers within seven days of receipt of this letter.

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“If not, we have our client’s further instructions to seek redress against you in a court of law where exemplary damages will be claimed against you. Kindly be advised.”

Tinubu, Akume and Uzor-Kalu are former Governors of Lagos, Benue and Abia States respectively.

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CBN announces revised documentation requirements for PAPSS transactions

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The Central Bank of Nigeria (CBN) has announced a revised documentation requirement for transactions conducted through the Pan-African Payment and Settlement System (PAPSS) in Nigeria.

This was disclosed in a statement issued by the apex bank’s acting Director, Corporate Communications, Mrs. Hakama Sidi Ali

The CBN said the new initiative is part of its ongoing commitment to foster seamless intra-African trade, financial inclusion, and operational efficiency for Nigerians engaging in cross-border payments within Africa.

Launched by Afreximbank in partnership with the African Union and the African Continental Free Trade Area (AfCFTA) secretariat in January 2022, PAPSS serves as a centralized payment and settlement platform that enables instant, secure, and efficient cross-border transactions throughout Africa.

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By facilitating payments in local currencies, PAPSS minimizes reliance on third-party currencies, reduces transaction costs, and supports the rapid expansion of trade under the AfCFTA.

In a recent circular referenced TED/FEM/PUB/FPC/001/006 issued on April 28, 2025, CBN outlined the key changes to the documentation requirements associated with PAPSS transactions.

The key changes it added take effect immediately and include simplified documentation for low-value transactions, which allows customers to now use basic KYC and AML documents provided to their authorized dealer banks for low-value transactions of up to $2,000 and $5,000 equivalent in naira for individuals and corporate bodies, respectively.

“For transactions above the thresholds, all documentation as stipulated in the CBN foreign exchange manual and related circulars remains mandatory,” the bank said.

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Also, the CBN added that applicants are responsible for ensuring all regulatory documents are available to facilitate the clearance of goods, as required by relevant government agencies.

“Authorized dealer banks may now source foreign exchange for PAPSS settlements through the Nigerian foreign exchange market, without recourse to the CBN.

“All export proceeds repatriated via PAPSS shall be certified by the relevant processing banks.

“The Central Bank of Nigeria urges all banks to adopt PAPSS and commence originating transactions in line with this new policy.

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“In addition, CBN encourages exporters, importers, and individuals to familiarize themselves with the new requirements and leverage PAPSS for cross-border transactions within Africa,” the statement said.

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Reps Set Stage for Nigeria’s First Legislative Conference on Renewable Energy

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By Gloria Ikibah

The House of Representatives is set to host the country’s first National Legislative Conference on Renewable Energy, aimed at driving new laws, attracting investment, and pushing Nigeria further along its energy transition journey.

This was revealed during a press briefing by the Chairman, House Committee on Renewable Energy, Rep. Afam Victor Ogene, who described the event as a turning point for energy legislation in Nigeria.

He said: “The conference aims at bringing together key stakeholders and industry players to discuss renewable energy legislations, energy transition, renewable energy financing, investment opportunities and related matters.

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“It’s about developing a national legislative framework on renewable energy”.

The conference, which is being organised  by the House Committee on Renewable Energy in partnership with the Office of the Speaker of the House of Representatives, and the United Nations Development Programme (UNDP), will take place under the UNDP Parliamentary Development Program.

Rep. Ogene noted that recent legal reforms have created space for state governments to play a more active role in Nigeria’s power sector. He pointed to the Fifth Alteration Bill 2022 (No.33), now signed into law, which allows states to legislate on electricity matters within the national grid. Before now, states could only act on off-grid power.

In addition, he highlighted the Electricity Act of 2023, which came into effect in February 2024.

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“It permits states to issue licenses for all electricity activities – generation, transmission and distribution across the entire power sector value chain,” he said.

The Committee Chairman further stated that the new National Integrated Electricity Policy, expected in 2025, will guide states in forming new electricity markets, where solar power and other renewable sources will be key to reaching underserved communities.

Ogene explained, “The conference has three clear objectives:

“To promote dialogue among legislators, experts and stakeholders on critical legislative priorities.

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“To establish a coordinated platform for federal and state lawmakers, and to produce a clear, time-bound legislative action plan.

“International partners are also on board. The Inter-Parliamentary Union (IPU) will participate, and parliaments from South Africa, Ghana and Gambia have confirmed attendance. Ghana is sending a three-man delegation led by the Deputy Speaker, Rt. Hon. Alban Kingsford Bagbin”.

In another major highlight, the Netherlands-based platform INCLUDE will host a Pan-African Legislative Dialogue session on renewable energy, to be chaired by the Hon. Speaker, Rt. Hon. Abbas Tajudeen.

“The session will focus on how to establish a unified legislative framework on renewable energy development, investment and financing.

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“The time has come for us to act. This is not just another conference – it is the foundation of Nigeria’s renewable energy future”, Ogene added.

Expected outcomes from the conference include new policy and legislative reform proposals to boost renewable energy use, as well as draft laws that will encourage public and private sector investment.

Other goals are to enhance collaboration between federal and state lawmakers, raise public awareness, and roll out a practical roadmap for implementation and progress tracking.

The event will also feature a technology showcase of renewable energy innovations and business opportunities.

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Alleged money laundering: EFCC produces Aisha Achimugu in court

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By Francesca Hangeior

The operatives of the Economic and Financial Crimes Commission (EFCC), on Wednesday, arrived at the Federal High Court in Abuja with the businesswoman, Aisha Achimugu, as ordered by the court.

Achimugu, who was sandwiched by two female EFCC officers, arrived in court at about 11:35 am.

It could be recalled that Justice Inyang Ekwo had, on Monday, ordered the industrialist, alleged to have fled the country, to honour the invitation by the anti-graft agency on Tuesday at noon.

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Justice Ekwo, who gave the order in a short ruling, also ordered the EFCC, upon the appearance of Achimugu at its office, to return with her to court on Wednesday for a report.

Achimugu was, however, said to have been arrested by the EFCC’s operatives on her arrival abroad at about 5 am and kept in custody.

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