News
Ola Olukoyede Charges Guinness Management On Regulatory Compliance
Ola Olukoyede Charges Guinness Management On Regulatory Compliance
The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede has charged the management of Guinness Plc on the need to ensure compliance with rules and regulations in the course of doing business in the country.
He gave the charge on Tuesday, May 12, 2026 in his remarks as he received the management team of the company, led by its Managing Director/Chief Executive Officer, Girish Sharma in his office.
“I want to thank you for what you stand for. I heard your director talking of compliance. That’s one of the things you must hold very dear to your heart if you don’t want to have any problems. I keep telling people that it’s cheaper for you to comply than not to. Whatever you think you are saving by not complying, you will lose with time. It’s never too expensive to comply. The cost you put into compliance is never lost. So, I want you to continue to sustain that decision which is good for business. Once you are compliant, we will work together,” he said.
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He expressed delight with the corporate social responsibility endeavours of the company, stating that it demonstrated the emphasis of the company on not just growing bottom-line but prioritizing giving back to the society.
“In respect to your CSR, I would like to also thank you for giving back to the society that is giving you so much worth. One thing that I promise with my mandate before assuming office is to use the instrumentality of this work to stimulate the economy and one of the ways is to work with corporate bodies like you”, he said.
Olukoyede observed that in addition to the Commission’s investigation and prosecution duties, it has a mandate to prevent financial crime from taking place. The department of Fraud Risk Assessment and Control, he stated works with ministries departments and agencies as well as the private sector. It looks at the risk factors in their operations, makes assessments and determines the control.
In addition, he stressed that the Commission regularly “looks at tax records and make sure that you observe your financial responsibilities to the government; make sure that you file your tax returns because your failure to pay tax is a crime and your failure to pay the actual amount you are supposed to pay is also a crime and failure to file your tax returns on time is a crime too, so we no longer wait for people to commit crime, we work with them to prevent the commission of crimes”
In his remarks, Sharma reiterated the strong faith of Guinness Plc in the Nigerian economy. A faith, he noted, that has spanned 76 years. “As we all know, the past few years have been pretty turbulent for Nigeria and we have seen a lot of companies exiting Nigeria. The good news is that Guinness Nigeria has not exited Nigeria for 76 years.

Olukoyede
While making a presentation of the activities of Guinness Nigeria in the areas of CSR, company core values and product portfolio, Rotimi Odusola, Corporate Relations/Legal Director of the company, declared the resolve of the company to always play by the rules in the country.
He stated that Guinness Nigeria plc was very proud of its association with Nigeria, adding that “One other thing that we are proud of as a company is that we do business the right way. We believe that there is no right way to do the wrong thing.
Therefore, it is extremely important to us as an organization that compliance with rules, with regulations, with laws is at the top of the manner in which we do our business,” he said.
News
ADC React To Diverting FAAC Allocation To Fund Tinubu’s Re-election
ADC React To Diverting FAAC Allocation To Fund Tinubu’s Re-election
The African Democratic Congress (ADC) has reacted to reports alleging that governors elected on the platform of the APC diverted funds from the Federation Account Allocation Committee (FAAC) to finance President Bola Tinubu’s re-election campaign, describing the action as shameless, cruel, and criminal, especially as millions of Nigerians are sinking deeper into poverty, hunger, and hopelessness due to the bad policies of the ruling party.
The party said the report alleging that over N800 billion was raised through deductions from FAAC allocations for political purposes confirms what Nigerians have long suspected: that while the administration continues to tell the people to endure the pains of its ill-fated economic reforms, the APC has been converting public resources into a war chest for 2027 politics.
In a statement issued on Tuesday, the ADC said it is morally indefensible that state governments receiving record-breaking allocations are unable to improve the lives of the people, yet could divert money to fund the President’s re-election ambitions.
The full statement read:
Under this APC government, states are receiving more money than at any other period in Nigeria’s history, yet Nigerians are poorer, hungrier, and more desperate than ever before. Roads are still collapsing. Hospitals are still empty. Schools are still underfunded. Workers are underpaid. Communities remain unsafe. The only thing growing is the political appetite of the ruling party.
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The ADC said that if the allegations published by THEWILL are true, then what has occurred is not just political corruption, but a direct theft of resources belonging to the Nigerian people. “FAAC allocations are meant for development, salaries, healthcare, education, infrastructure, security, and the welfare of citizens, not for financing the re-election plans of one man. To divert public allocations into political accounts while citizens cannot afford food is wickedness on an industrial scale.”
These revelations explain why many APC governors appear more interested in political calculations than governance, despite unprecedented inflows into state coffers following subsidy removal and currency devaluation policies that have inflicted severe hardship on Nigerians.
The same government that told Nigerians there is no money to reduce suffering somehow found a way to allegedly mobilise over N800 billion for politics. The same government asking citizens to endure sacrifice is allegedly supervising one of the largest political funding operations in Nigeria’s democratic history. This is not leadership. This is exploitation. The APC government has effectively turned governance into a fundraising machine for 2027 while Nigerians battle inflation, unemployment, insecurity, collapsing purchasing power, and rising poverty.

ADC
We call for an immediate independent investigation into the allegations, including the reported use of FAAC deductions and any related accounts or structures allegedly linked to the operation.
Nigerians deserve to know whether money belonging to states and local governments was diverted for partisan political purposes. If these allegations are true, then this represents a dangerous abuse of public trust and a scandal of enormous national consequence. No amount of political spending can save a government that has lost the confidence of the people.
You cannot impoverish the people to fund your own re-election. Nigerians are not blind. Nigerians are not fools. And Nigerians will remember.
Signed:
Mallam Bolaji Abdullahi
National Publicity Secretary
African Democratic Congress (ADC)
News
Why EFCC Operatives Visited UUTH Akwa Ibom
Why EFCC Operatives Visited UUTH Akwa Ibom
The Tuesday, May 12, 2026, visit of operatives of the Uyo Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, to the University of Uyo Teaching Hospital, UUTH, in Uyo, Akwa Ibom State was informed by the need to authenticate a medical report presented by a suspect under remand by Justice M.A Onyetunu of the Federal High Court, Uyo, for allegedly defrauding multiple micro finance banks, including University of Uyo Micro Finance Bank.
The suspect had presented a medical report which required authentication by the UUTH management. The Commission wrote two different letters, dated March 11, 2026 and April 20, 2026, to the hospital management to this effect without receiving any response. The Investigating Officer handling the matter took the further step of visiting the hospital to enquire about the status of the request. Still, no response.
As a last resort, operatives of the Commission visited the Chief Medical Director of the hospital on Tuesday to make further enquiries, only to be locked in with a false alarm and subjected to unprovoked attack by misguided staff of the facility who pelted them with stones and other dangerous objects.
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While within the hospital, the CMD reportedly directed that gates of the facility be shut, making it impossible for any lawful enquiry to be made. Police authorities in Akwa Ibom State advised the CMD to open the hospital gates to enable the operatives exit the premises peacefully but the entreaties were turned down.

EFCC Operatives Visited UUTH
In spite of the hostility and provocation, there was no breakdown of law and order as the operatives exercised restraint and professionally made their ways out of the hospital premises without disrupting its activities.
Enquiries bordering on operational engagements of the Commission are lawful. It is therefore necessary to remind the public and corporate bodies that they are obligated to cooperate with the agency in such circumstances.
Contrary action could be deemed as obstruction, which is criminal with attendant legal consequences.
News
Alleged N1.6b Money Laundering: Court Rejects Bauchi Accountant General’s Application To Travel For Hajj
Alleged N1.6b Money Laundering: Court Rejects Bauchi Accountant General’s Application To Travel For Hajj
Justice O.A. Egwuatu of the Federal High Court, sitting in Abuja, on Tuesday, May 12, 2026, rejected the application filed by Bauchi State Accountant General, Sirajo Muhammad Jaja for permission to travel to the Kingdom of Saudi Arabia for the Muslim pilgrimage, hajj and medical check-up.
Jaja is facing prosecution by the Economic and Financial Crimes Commission, EFCC alongside the first defendant Aliyu Abubakar, an unlicensed bureau de change operator on amended five-count charge, bordering on conversion of funds, belonging to the Bauchi State Government, and money laundering to the tune of N1,635,270,350.9k (One Billion, Six Hundred and Thirty-five million, Two hundred and seventy thousand, Three hundred and fifty Naira, Nine kobo).
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On conclusion of the cross-examination of the first Prosecution Witness, PW1, Abimbola Williams, a compliance officer with the United Bank for Africa, UBA at the Tuesday’s sitting by Jaja’s counsel, Chris Uche, SAN, the counsel informed the court of his client’s application for leave of the court to enable him travel to the Kingdom of Saudi Arabia for two weeks to perform the Muslim pilgrimage and for medical check- up.

Court
“Before adjourning, there is an application. The second defendant wants to travel outside for two weeks. It is a temporary application for the release of his passport,” adding that the defence was already in receipt of the prosecution’s response, which he said, he was yet to respond to.
In his response, prosecution counsel, Abba Muhammed, SAN, informed the court that the prosecution was in receipt of the application and has responded in objection to the application for him to travel out for any reason, stating that the defendant is a flight risk, with other parties in the charge being at-large.
“The prosecution opposed the application of the second defendant with a 10 paragraph affidavit filed on 13 March, 2026. We rely on all the deposition and annexures. We provided cogent reasons, the facts are there. We rely on them and we urge the court to reject the application.
In his ruling on the application, Justice Egwuatu struck out the application and adjourned the matter till June 30, 2026 for continuation of trial.
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