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Reps Grill Power Trader Boss Over Billions in Questionable Spending
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By Gloria Ikibah
Nigeria’s House of Representatives has put the acting Managing Director of the Nigerian Bulk Electricity Trading (NBET) Plc, Johnson Akinowo, under intense scrutiny over how the agency spent N4.099 billion earned from regulatory income in the 2025 financial year.
The grilling took place in Abuja on Thursday during a review of NBET’s 2025 budget performance, led by the House Committee on Finance. Committee chairman, Abiodun James Faleke, raised serious concerns about what lawmakers described as excessive and troubling expenditure patterns by the government-owned power trader.
Lawmakers were particularly alarmed that almost the entire welfare budget was exhausted, with N377.031 million spent out of N377.658 million approved. A similar trend was observed in other spending lines, including N76.939 million spent from an approved N78.838 million under miscellaneous expenses.
Further questions were raised over overseas travel spending, despite a standing directive from the President’s Chief of Staff restricting foreign trips. Records showed that N470.122 million was spent on international travel and training, nearly matching the N479.845 million budgeted for that purpose.
Documents submitted to the committee also revealed significant expenditure on internal engagements and administration. These included N111.804 million for management, staff and board retreats; N71.379 million for board sittings and directors’ allowances; N36.313 million on professional fees; and N48.779 million on conferences, seminars and exhibitions.
Other spending items that drew lawmakers’ attention were N31.858 million on refreshments and meals, N9.713 million on cleaning and fumigation, N60.231 million on office and IT maintenance, and N68.552 million on stationery and computer consumables. NBET also recorded ₦65.530 million for local travel and transport, N79.103 million for training-related local travel, and a hefty N1.780 billion on personnel costs.
Beyond the scale of spending, legislators also flagged what they described as a serious omission in NBET’s financial disclosures, noting that revenue generated in December 2025 was not declared in the documents submitted for review.
The committee demanded detailed explanations from NBET’s management, signalling that further action could follow if the inconsistencies are not satisfactorily addressed.
While responding to allegation bothering on the ban on international travel, he said: “yes, we are very aware of it and as a corporate responsible organization, we are guided by all the stipulations of that directive.
“So, every and all travels that you see that was funded there had either an SGF or Head of Service approval. For instance, at an MD/CE, if I am going to travel, I require that SGF approval…
“I’ll give you an example. For the World Bank Spring Meeting, in relation to the Partial Risk Guarantee of the Federal Government of Nigeria that Embed manages, they meagre the insurance and of the World Bank during the Spring Meetings, require our presence to provide clarification and to engage on their portfolio in Nigeria.”
He explained that he attended the session as part of the Federal Ministry of Finance delegation, stressing that other agencies under the ministry, including the Debt Management Office, the Bank of Industry and the Central Bank of Nigeria, were better placed to provide detailed explanations on several of the issues raised when they appear to defend the country’s position.
Akinowo also disclosed that although the National Assembly approved ₦855 billion for the power reform programme, the Federal Government released only N60 million.
According to him, the funds were made available very late, making it impossible for the agency to conclude the required procurement process. As a result, the N60 million has remained unused to date.
“For the revenues of 2025, regulatory income for participants in the electricity market are provided for them to run their operations. And I listed the agencies, that was why I tried to give that introductory background when I was speaking to the revenues. They are provided, it is the design of the electricity market that provides the revenue distribution. Distribution companies get two invoices.
“One is for energy and capacity which they pay to embed and embed pays to the GENCOs. The other one is for market administrative charge, which is supposed to cover the operations of the agencies of government that provide the service in the electricity market,” he explained.
According to him, the regulatory agencies include: the regulator, Nigerian Electricity Regulatory Commission (NERC), Transmission Company of Nigeria (TCN), and GENCO of Nigeria to cover wheeling charges for wheeling the electricity as well as Nigerian Independent System Operator, which is comprised of the system operator and the micro operator to cover their operations.
He added that the regulatory revenue to cover their operations now makes them to be excluded from appropriation for the current. So we typically get capital from appropriation while we are supposed to run the operations from the recurrent from the regulatory revenue as approved by NERC, the regulator from time to time.
He explained that, the actual n line with extant rules, NBET funds the capital component of the annual budget from Appropriation Act.
While clarifying issues bothering on non-declaration of revenue accrued in December 2025, the NBET helmsman further explained that: “if you issue an invoice in December and it is not due for payment, if the contract says your invoice is due 25 days after, and that in five days is in January or in February, then that is what it is, because the legislation takes care of it and is captured for transparency.”
Ruling on the matter, the committee chairman, Rep. James Faleke, said the panel had agreed to make an omnibus request to the Nigerian Bulk Electricity Trading Plc, insisting on comprehensive documentary evidence covering all expenditures incurred in 2025, alongside records of approvals and waivers obtained from relevant authorities, including the Presidency.
“As a committee, we have resolved to make an omnibus request from NBET. We are demanding documentary evidence of all expenditures incurred throughout 2025, as well as approvals and waivers obtained from relevant authorities, including the Presidency,” Faleke said.
He added that the committee would suspend further consideration of NBET’s 2026 budget proposal pending clarification. “Consequently, the consideration of the 2026 budget proposal is hereby suspended,” he ruled, announcing that the hearing was adjourned to Tuesday, 10 February 2026, when the Accountant General of the Federation is expected to appear before the committee.
The House Committee also turned its attention to the proposed N14.325 billion 2026 budget of the Federal Ministry of Finance, raising concerns over apparent discrepancies in the capital expenditure component during the budget defence at the National Assembly.
A breakdown of the proposal shows N4.5 billion allocated to personnel costs, N4.6 billion for overheads and ₦5.2 billion set aside for capital projects. However, lawmakers queried the structure of the capital vote, with Faleke demanding explanations over figures he described as inconsistent with standard capital budget projections.
“These figures do not align with what we ordinarily expect under capital expenditure, and we need clarity on how this was arrived at,” he said.
Responding to the concerns, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, explained that the contentious capital figure was compiled by the Budget Office and includes debt servicing obligations.
“The figure includes debt service components, which are not part of the ministry’s regular capital expenditure,” Edun said, adding that this classification gave the impression of an inflated capital allocation when, in reality, much of it relates to statutory debt service entries.
Also speaking at the session, the Chairman of the Revenue Mobilisation, Allocation and Fiscal Commission, Mohammed Shehu, disclosed that the commission is actively engaging with several revenue-generating agencies to resolve long-standing fiscal and remittance challenges.
“We are currently engaging revenue-generating agencies to address outstanding fiscal and remittance issues,” Shehu said, noting that renewed consultations were already yielding results. “Agencies are increasingly approaching the commission to resolve lingering concerns around revenue accountability and compliance with existing frameworks.”
News
U.S. Cancels Over 600 Visas in Crackdown on Birth Tourism Networks
The United States government has revoked more than 600 visas issued to foreign nationals linked to alleged birth tourism schemes, in a major enforcement action targeting organised networks accused of exploiting the country’s immigration and citizenship system.
The move was announced on Tuesday by the United States Department of State, which said the decision forms part of a broader effort to curb illegal birth tourism activities under the administration of President Donald Trump.
Crackdown on Alleged Visa Fraud Networks
According to the State Department, birth tourism involves foreign nationals entering the United States on visitor visas primarily for the purpose of giving birth, so their children automatically acquire U.S. citizenship under the country’s birthright citizenship laws.
Officials said this practice violates visa regulations, which require applicants to state their true travel intentions when applying for entry into the country.
The department explained that investigations uncovered coordinated networks that allegedly assisted applicants in obtaining visas under false pretences, often by concealing their real intention to give birth in the United States.
Visas Revoked Across Multiple Regions
As part of the enforcement action, authorities confirmed that more than 100 visas were revoked in West Africa, over 400 in Europe, and at least 100 in North Africa.
In West Africa, U.S. embassy officials reportedly uncovered an organised group involving more than 100 foreign nationals who allegedly used falsified documents and visa intermediaries to secure entry into the United States.
Following the discovery, the visas were cancelled and the network dismantled in cooperation with local authorities, who are also assisting in tracking related cases.
European and North African Networks Targeted
In Europe, investigators reportedly identified at least six companies linked to more than 400 suspected birth tourism cases recorded since 2024.
These firms were accused of coaching applicants on how to respond during visa interviews, arranging travel logistics, and coordinating hospital plans for childbirth once they arrived in the United States.
U.S. authorities said the visas associated with these cases have now been withdrawn, while those involved in organising the scheme have been permanently barred from entering the country.
In North Africa, more than 100 additional visas were revoked from individuals suspected of travelling primarily for childbirth-related purposes to secure U.S. citizenship for their children.
The State Department said consular officers worked in collaboration with law enforcement agencies and used advanced data analysis tools to detect patterns of abuse and identify coordinated visa fraud operations.
Officials reiterated that obtaining a U.S. visa remains a privilege rather than a right, stressing that applicants must comply fully with immigration rules and disclose accurate information during the application process.
The department added that investigations are ongoing in multiple regions as part of sustained efforts to dismantle birth tourism networks and prevent further abuse of the visa system.
Authorities also warned that individuals found guilty of violating visa regulations could face permanent bans from entering the United States in the future.
News
Insecurity has so engulfed Nigeria that bandits collect taxes, Govt offers excuses — Donald Duke
Presidential candidate of the Peoples Redemption Party (PRP), Donald Duke, has decried the worsening state of insecurity and governance in Nigeria, lamenting that criminal groups have become so emboldened that they now impose taxes on citizens in some parts of the country.
Duke accused Nigeria’s political leadership of failing to address critical national challenges over the years, arguing that poor governance has created an environment where bandits, kidnappers and other criminal elements operate with alarming influence.Politics
The former Cross River State governor made the remarks in Abuja during the presentation of Certificates of Return and party flags to candidates of the PRP ahead of the 2027 general elections.
Speaking at the event, Duke painted a grim picture of the country’s security situation, stating that many communities have been left vulnerable as criminal groups increasingly exert control over local populations.
According to him, the situation has deteriorated to the point where kidnappers and armed gangs collect levies from residents while government authorities struggle to provide effective solutions.
“Our land has become so desolate that bandits, gangsters and kidnappers collect taxes while the government collects excuses,” he said.
The PRP flagbearer cited figures he attributed to the Nigerian Bureau of Statistics, claiming that Nigerians paid approximately ₦2 trillion in ransom to kidnappers in 2025 alone.
He argued that the amount represents a significant drain on the nation’s resources and reflects the scale of the insecurity challenge confronting the country.
Duke blamed the development on years of leadership failures, insisting that many of Nigeria’s current problems could have been avoided if public officials had consistently prioritised the national interest over political expediency.
“All this is because our leaders failed to do what was right when it was necessary to do so,” he said. “The best politics has always been about doing the right thing, not merely doing what is convenient.”
Promises Safer Communities and Better Education
Outlining his vision for the country, Duke pledged to build a Nigeria where citizens can live and work without fear of violence or abduction.
He said his administration would focus on restoring security, reviving agriculture and improving access to quality education.
According to him, farmers should be able to cultivate their land and return home safely, while children deserve access to conducive learning environments equipped with basic educational facilities.
He also emphasised the need to create opportunities for young Nigerians through policies that encourage economic growth, employment and social development.
‘Time for Ordinary Nigerians to Take Power’
Duke further argued that Nigeria’s traditional political elite have had ample opportunities to lead the country but have failed to deliver the desired transformation.
He said the PRP’s mission is to place power in the hands of ordinary Nigerians, including market women, farmers, artisans, workers and unemployed graduates who bear the brunt of the country’s economic and social challenges.
“The political elite have had their turn. Now it is the turn of the common man, the true Nigerian, the market woman, the farmer and the unemployed graduate,” he declared.
Describing himself as a champion of ordinary citizens, Duke called on Nigerians to unite behind what he termed a movement for national renewal.
While acknowledging that the political battle ahead would be difficult, he expressed confidence that determined citizens could reclaim the country from leaders he accused of prioritising personal interests over public welfare.
“This struggle will not be easy because those benefiting from the current system will resist change. But our resolve is stronger, and our cause is just,” he said.
The remarks come as political parties intensify preparations for the 2027 elections, with opposition figures increasingly focusing on issues of insecurity, economic hardship and governance as key campaign themes.
News
Senate Orders Kyari’s Arrest Over Alleged ₦210 Trn NNPCL Financial Infractions
… As Former CFO Dismisses Missing Funds Claim, Defends Company’s Accounts
A dramatic session unfolded at the Senate on Wednesday as the Senate Committee on Public Accounts ordered the arrest of former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, over his failure to appear before lawmakers investigating alleged unaccounted funds amounting to ₦210 trillion between 2017 and 2023.
The committee’s directive followed Kyari’s absence from an investigative hearing examining 19 audit queries raised against the national oil company by the Office of the Auditor-General of the Federation.
Lawmakers insisted that the former NNPCL chief had repeatedly failed to honour invitations despite several opportunities granted to him.
The hearing took another twist when former Chief Financial Officer of the NNPCL, Umar Ajiya Isa, strongly rejected claims that ₦210 trillion was missing from the company’s accounts. He argued that the figure being cited as unaccounted for exceeded the total revenue generated by the corporation during the period under review.
During deliberations, some committee members urged restraint. Senator Saliu Mustapha and Senator Tony Nwoye informed the committee that Kyari was reportedly receiving medical treatment in Germany and should be granted another opportunity to appear before lawmakers.
Their plea, however, met stiff resistance from other members of the panel who insisted that verbal explanations were insufficient. Senator Abdul Ningi argued that any claim of illness should be backed by documentary evidence rather than mere verbal assurances.
The strongest push for enforcement came from Senator Victor Umeh, who formally moved a motion calling for the issuance of a warrant of arrest against the former NNPCL chief. The motion received immediate support from the committee’s Deputy Chairman, Senator Peter Nwaebonyi.
Nwaebonyi told the committee that granting Kyari another opportunity to appear voluntarily would amount to chasing shadows. He noted that the committee had already convened nine separate meetings on the matter, with three of them presided over by him, without securing the former NNPCL chief’s appearance.
“This is the ninth time this committee is meeting on the 19 audit queries raised against NNPCL. The time to issue a warrant of arrest is now because the committee must conclude its assignment and report back to the Senate,” he declared.
Following a voice vote, Committee Chairman Senator Ibrahim Dankwambo announced the panel’s decision, directing security agencies to ensure Kyari’s appearance before the committee.
“Anywhere Mele Kyari is, he should be arrested and brought before this committee,” Dankwambo ruled.
While the committee intensified pressure on the former NNPCL boss, Isa mounted a vigorous defence of the company’s financial records. He described the allegation of ₦210 trillion in missing funds as impossible, insisting that the figures did not align with NNPCL’s audited financial statements.
According to him, the company generated approximately ₦54.5 trillion in revenue during the period under review, even before accounting for production costs. He argued that it would be mathematically impossible for ₦210 trillion to be missing when the total earnings were significantly lower than the amount being alleged.
“To be clear, if money had gone missing during our tenure, we would not have had the confidence to publish audited accounts. For over four decades, NNPC accounts were either not prepared, not published, or not submitted to the Auditor-General. The fact that audited accounts were released demonstrates transparency,” he said.
Isa also dismissed allegations that ₦5.8 billion was spent on the registration of NNPC Limited, describing the claim as false and harmful. He challenged the committee to verify the matter independently with the Corporate Affairs Commission and the Nigeria Revenue Service.
Warning against the consequences of inaccurate financial allegations, the former CFO said unsubstantiated claims could damage Nigeria’s international reputation and affect investor confidence. He recalled how a previous petition allegedly disrupted efforts to secure about $2.5 billion in Chinese financing for the Ajaokuta-Kaduna-Kano Gas Pipeline project, despite sovereign guarantees backing the deal.
He further urged anti-corruption and intelligence agencies, including the Economic and Financial Crimes Commission and the Nigerian Financial Intelligence Unit, to investigate the allegations thoroughly and establish the facts. “When people claim ₦210 trillion is missing, they should be asked where exactly it went,” he stated.
At the conclusion of the hearing, the committee directed Isa and former Chief Upstream Investment Officer, Bala Wunti, to return in two weeks as lawmakers continue their probe into the audit queries and the financial operations of the NNPCL during the period under review.
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