News
Lagos EFCC Arraigns Four For Alleged N2bn Oil Fraud
Lagos EFCC Arraigns Four For Alleged N2bn Oil Fraud
Lagos EFCC arraigns four for alleged N2bn oil fraud. The Economic and Financial Crimes Commission, EFCC, Lagos Zonal Directorate 2, Ikoyi, on Friday, March 6, 2026, arraigned the quartet of Babatunde Olukunle Oyefolu, Babayemi Isaac Olatunde Ezekiel Abaki and Plural Oil Marketing Limited for an alleged N2bn oil fraud before Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos.
The defendants were arraigned on a four-count charge of alleged conspiracy, theft, and possession of stolen property involving 894,111 litres of base oil valued at ₦2,000,000,000 (Two Billion Naira).
One of the counts reads:” That you, Plural Oil Marketing Limited, Babatunde Olukunle Oyefolu, Babayemi Isaac Olatunde and Ezekiel Abaki, sometime in 2021 in Lagos, within the jurisdiction of this Honourable Court, conspired among yourselves to unlawfully convert 894,111 litres of base oil, property in which Providus Bank holds a special interest.”
Another count reads: “That you, Plural Oil Marketing Limited, Babatunde Olukunle Oyefolu and Babayemi Isaac Olatunde, sometime in 2021 in Lagos, within the jurisdiction of this Honourable Court, dishonestly retained in Plural Oil Marketing Limited’s Keystone Bank account the sum of N2,000,000,000.00 (Two Billion Naira), being funds fraudulently converted.”
The defendants pleaded “not guilty” to the charges preferred against them.
Following their pleas, prosecution counsel, Z. B. Atiku, asked for a trial date and also urged the court to remand the defendants in a Correctional facility pending trial.
However, defence counsel, Dr. Suleiman Usman, SAN, informed the court that he had filed bail applications on behalf of the defendants and that the applications had been duly served on the prosecution.
He also urged the court to grant the defendants bail on liberal terms and undertook to ensure their presence at subsequent proceedings.

EFCC
After listening to both parties, Justice Oshodi granted the defendants bail in the sum of N20 million each, with one surety in like sum.
The surety must show evidence of means of livelihood.
The court further ordered the second defendant to deposit his international passport with the court, while the third defendant was ordered to submit a valid passport and sign an undertaking not to travel outside Nigeria during the pendency of the trial.
The judge also directed the prosecution to notify the Nigerian Immigration Service, NIS.
Justice Oshodi granted the defendants interim bail pending the perfection of their bail conditions, and ordered their counsel to produce them in court on the next adjourned date.
The matter was adjourned till April 29, 2026 for the commencement of trial.
Economy
Pensioners Threaten Nationwide Protest, Demand Governors Urgently Review Payment
Pensioners Threaten Nationwide Protest, Demand Governors Urgently Review Payment
The National Association of Retirees of State Governments has threatened a nationwide protest unless state governors urgently review pension payments in line with existing labour laws.
Simon Anchaver, president of the union, made the call in Yenagoa at the inauguration of the Bayelsa interim executive of the newly registered union.
The union demanded that the 36 state governors prioritise pension payments.
They equally called on President Bola Tinubu to establish a ministry for pension affairs to guarantee annual budgetary allocations for pensioners’ welfare.
Eereporter.com
The union bemoaned the arbitrary payment of pensions by some governors, and commended the Nasarawa state governor for releasing N7 billion to clear pension arrears and gratuity.
Its national secretary, Bipre Ndiomu, said the union was newly registered and currently inaugurating state executives. He urged state governors to put in place the modalities to guarantee the welfare of pensioners across the country.

Protest Demolition
Bayelsa’s head of service, Wisdom Sawyer, urged the executive to serve as a bridge between retirees and the government, adding that the state government was open to engagement on outstanding issues.
The newly inaugurated state chairman, Bazigha Tanwei, accepted the mandate and promised an open-door policy, regular consultations with members, and sustained advocacy with the state government to clear arrears.
Economy
Financial Literacy: NNPC Foundation Trains Batch A Stream 2 Corps Members
Financial Literacy: NNPC Foundation Trains Batch A Stream 2 Corps Members
In continuation of its Corporate Social Responsibility (CSR) initiatives on financial literacy, the NNPC Foundation Ltd./Gte has conducted its second 2026 National Youth Service Corps (NYSC) skills empowerment training for Batch A, Stream 2 corps members at the FCT NYSC Orientation Camp, Kubwa, Abuja, over the weekend.
Delivered in partnership with the NYSC Skills Acquisition and Entrepreneurship Development (SAED) scheme, the programme covers financial literacy, entrepreneurship, and business development. Its training structure also includes a financial literacy test, a “Kick Start My Business” course, and business proposal pitching.
Eereporter.com
Managing Director of NNPC Foundation, Emmanuella Arukwe, who was represented by the Head, Programme Management, Rose Okonkwo, noted that over one million corps members have been trained nationwide through the programme.
Acting Director of SAED, Usman Yahaya, commended the NNPC Foundation for its consistent support, urging the corps members to acquire multiple skills during their service year in order to position themselves as job creators and not job seekers.

NNPC, NYSC
It would be recalled that last year, 531 youths received Starter Packs and financial support to help them launch their businesses, with most beneficiaries recording measurable progress across their various enterprises.
The NNPC Foundation Ltd./Gte has, through the financial literacy programme, sustained its commitment to preparing young Nigerians towards sustainable careers and self-reliance, contributing to national economic growth and development.
News
CAS Reaffirms Commitment To Aircraft Safety, Operational Excellence At NAF Airworthiness Seminar
CAS Reaffirms Commitment To Aircraft Safety, Operational Excellence At NAF Airworthiness Seminar
The Chief of the Air Staff (CAS), Air Marshal Sunday Kelvin Aneke, has restated his unwavering commitment to enhancing operational safety and sustaining peak combat readiness through rigorous training, strict adherence to airworthiness standards, and the continuous modernisation of the Nigerian Air Force (NAF).
Air Marshal Aneke made this known on Tuesday, 28 April 2026, while declaring open a two-day Airworthiness Seminar organised by the Aircraft Engineering Branch at Headquarters Nigerian Air Force, Abuja. The seminar brought together senior engineering officers, maintenance commanders, logistics experts, and key aviation stakeholders to deliberate on strategies aimed at improving aircraft safety, fleet sustainability, and operational readiness across the Service.
Speaking at the event, the CAS, represented by the Chief of Policy and Plans, Air Vice Marshal AY Abdullahi, emphasised that airworthiness remains non-negotiable in the effective projection of decisive air power, stressing that the safety and reliability of NAF platforms are critical to mission success in ongoing counter-terrorism and internal security operations nationwide. He noted that the seminar aligns with his command philosophy of transforming the Nigerian Air Force into a more capable, professional, and mission-ready fighting force through innovation, discipline, and high operational standards.
Eereporter.com
Air Marshal Aneke further stated that the institutionalisation of stringent maintenance procedures, continuous capacity development, and a strong culture of professionalism, anchored on purposeful lethality, mission effectiveness, and sustained combat capability, will remain enduring principles guiding the Service into the future.

NAF Airworthiness Seminar
A major highlight of the seminar was a technical presentation delivered by Mr Clementi Giorgio, Executive Chairman, Chief Technology Officer, Experienced Test Pilot, Flight Test Engineer, and Flight Test Instructor from the International Test Pilot School, Ontario, Canada.
During his presentation, Mr Giorgio shared global best practices on flight test safety, airworthiness certification, and emerging technologies in aircraft maintenance management.
The seminar is expected to further strengthen the NAF’s maintenance culture, operational efficiency, and readiness to meet contemporary air power demands in defence of the nation.
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