Nigeria News (Standard)
Witness Testifies on Bank Account in Malami’s Alleged ₦8.7bn Fraud Case in Abuja Court
Prosecution presents evidence linking ex-Attorney General’s associate to suspicious account; defence challenges admissibility
Prosecution presents evidence linking ex-Attorney General’s associate to suspicious account; defence challenges admissibility
A prosecution witness on Wednesday testified before a Federal High Court in Abuja, detailing how a bank account allegedly linked to associates of former Attorney General of the Federation, Abubakar Malami, was used in a purported ₦8.7 billion fraud scheme. The testimony forms part of an ongoing trial that has drawn national attention due to the high-profile figures involved.
The court session saw the prosecution present documentary evidence which they claim ties a specific bank account to suspicious transactions connected with the alleged embezzlement. The witness, whose name was not disclosed in open court, provided an overview of how funds were allegedly moved through the account under investigation. Defence lawyers for the accused contested the admissibility of some exhibits, leading to heated exchanges before Justice Binta Nyako.
This case is significant as it involves top officials from the previous administration and raises questions about oversight of public funds at the federal level. The Economic and Financial Crimes Commission (EFCC) has pursued this matter as part of its broader anti-corruption drive, insisting that all individuals linked to misappropriation will face justice. Legal observers note that such high-stake cases test both the independence of Nigeria’s judiciary and the effectiveness of anti-graft agencies.
During proceedings, EFCC prosecutors argued that tracing large sums through specific accounts provides direct evidence of fraudulent activity. However, defence counsel countered that mere ownership or operation of an account does not constitute proof of wrongdoing without clear evidence showing intent or benefit by their clients. The judge adjourned for further hearing and directed parties to file written submissions on disputed documents.
The trial is expected to continue in coming weeks, with both sides preparing additional witnesses and expert testimonies. Nigerians continue to watch closely as outcomes from cases like this are seen as a litmus test for accountability among public office holders.
Nigeria News (Standard)
Air Peace CEO Onyema Says Airlines Rely on Bank Loans as Jet Fuel Prices Surge
Rising aviation fuel costs push Nigerian carriers into debt, industry leaders warn of threat to operations
Rising aviation fuel costs push Nigerian carriers into debt, industry leaders warn of threat to operations
Nigerian airlines are now depending heavily on bank loans to keep their operations afloat as the price of aviation fuel continues to soar, Allen Onyema, Chief Executive Officer of Air Peace, has said. Onyema raised the alarm on Wednesday, highlighting the mounting financial pressure facing domestic carriers across Nigeria.
Speaking from Lagos, Onyema explained that the sharp increase in jet fuel prices has left airlines struggling to meet daily operational expenses. He stated that many operators have had no choice but to seek loans from commercial banks to cover essential costs such as fuel and aircraft maintenance.
The Air Peace boss noted that the aviation sector has been hit particularly hard by recent economic challenges, with jet fuel prices rising in tandem with naira depreciation and inflation. Industry analysts say this situation threatens the long-term sustainability of local airlines and could lead to higher airfares for Nigerian travellers.
Onyema called on government and regulatory agencies to urgently intervene by stabilising fuel supply and supporting indigenous airlines. He warned that unless there is a prompt response, more airlines may be forced out of business. “We cannot continue like this; something must be done to save Nigeria’s aviation industry,” Onyema stressed.
Aviation stakeholders have echoed Onyema’s concerns, urging government to review policies affecting jet fuel importation and forex access. They argue that failure to address these issues will not only hurt airline operators but also disrupt air connectivity across Nigeria. The situation remains tense as airlines await further action from authorities.
Nigeria News (Standard)
France Coach Leaves FIFA World Cup in Germany for Mother’s Funeral
Departure of national team head disrupts France’s tournament preparations; assistant coach steps in temporarily
Departure of national team head disrupts France’s tournament preparations; assistant coach steps in temporarily
France’s national football team coach has departed from the ongoing FIFA World Cup in Germany to attend his mother’s funeral, causing a sudden change to the squad’s technical leadership. The incident occurred on Wednesday, just days before France’s next group stage fixture.
According to information available as at Wednesday, the coach left the team’s base in Germany and travelled back to France following news of his mother’s passing. In his absence, the assistant coach has been placed in charge of training sessions and match preparations, pending his return.
This development comes at a sensitive period for Les Bleus, who are regarded as one of the favourites for the global tournament. Analysts say that any disruption in the technical bench at this critical stage could affect player morale and tactical execution. The French Football Federation is yet to issue an official statement regarding the coach’s expected date of return or how long he will be away from World Cup duties.
A senior official close to the team confirmed that all players and staff have been informed of the situation and have expressed their condolences to the coach and his family. The official added that preparations for upcoming matches would continue as scheduled under interim supervision.
France is set to face its next opponent later this week, with supporters hoping for a swift return of their head coach. The situation is being closely monitored by both French authorities and tournament organisers.
Nigeria News (Standard)
Dangote Refinery Dismisses Claims of Fuel Export-Reimport as ‘Illogical’
Management in Lagos says allegations of exporting refined products for re-importation lack basis and economic sense
Management in Lagos says allegations of exporting refined products for re-importation lack basis and economic sense
Dangote Petroleum Refinery has refuted circulating reports suggesting that the company exports its refined petroleum products abroad only to re-import them into Nigeria, describing such claims as baseless and not grounded in operational reality. The management made this clarification on Wednesday during a statement issued at its Lagos headquarters.
The refinery’s response followed widespread speculation and online commentary alleging that Dangote was engaging in a practice that would see locally refined products shipped out of the country, only to be brought back for sale to Nigerians. The company stated that this claim is both illogical and contrary to the principles guiding its business operations.
This development comes at a time when Nigerians are closely watching activities within the oil and gas sector, especially since the Dangote Refinery commenced operations earlier this year with promises of reducing dependence on imported fuel. Many stakeholders have raised questions about how quickly the refinery can impact pump prices and fuel availability, given ongoing concerns about foreign exchange rates and supply chains.
In its official position, Dangote Petroleum Refinery explained that all processes are geared towards supplying the Nigerian market directly. “There is no economic or operational rationale for us to export refined products only to re-import them for local consumption,” the management stated. The company added that it remains committed to meeting domestic demand efficiently and transparently.
Industry observers say that as Nigeria’s largest private refinery ramps up production, public scrutiny will likely intensify regarding pricing, supply chain decisions, and government regulatory oversight. The company assured Nigerians that it would continue to communicate developments transparently as it moves towards full-scale operations.
Air Peace CEO Onyema Says Airlines Rely on Bank Loans as Jet Fuel Prices Surge
France Coach Leaves FIFA World Cup in Germany for Mother’s Funeral
Dangote Refinery Dismisses Claims of Fuel Export-Reimport as ‘Illogical’
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