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We’ll Not Return Seized Assets to Owners – Buhari

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President Muhammadu Buhari Thursday, vowed that all assets seized from any corrupt persons in the country, who could not prove the source of their income would not be given back to them  under any circumstances.

The President recalled experiences of the past, in which assets were seized from officials who couldn’t explain how they got them, only for those assets to be returned to them when government was changed.

Buhari gave the warning when he hosted members of Presidential Advisory Committee Against Corruption (PACAC) at State House, Abuja.

He vowed that such would not re-occur, as he had given instructions that all forfeited assets be sold, and the money put in the Treasury Single Account.

T ”Let’s see who will now take back the money from the treasury, and give back to those people, as was done in the past,” the President fumed.

He also promised to beam the searchlight on cost of governance, and weed out possible corruption that exists anywhere.

The President appreciated members of the committee for the “major sacrifice they’ve made in accepting the assignment to serve the country.”

He noted, “Some of the elite won’t trust you, and you will be alienated, no matter how close you are to them.”

 Chairman of PACAC, Professor Itse Sagay, who led the delegation, said Nigeria was lucky more than ever to have a person of President Buhari’s credentials as leader of government.

“We congratulate you for being a star of the anti-corruption struggle in Africa. You attach a lot of importance to the fight against corruption, and we have tried to achieve the aim you had in mind when you established PACAC,” Prof Sagay added.

He said that the committee trains, builds capacity of anti-corruption agencies, and has helped to develop a programme of non-conviction assets recovery, which is recording great successes.

PACAC however, made some recommendations to the President so as to move the anti-corruption war forward. Some of the recommendations include: reestablishment of the jury system for criminal cases in the country; setting up of a judicial commission on corruption in the judiciary, to be headed by retired judges under the auspices of National Judicial Council (NJC); passage of Proceeds of Crime Act by the National Assembly; the setting up of a Presidential Truth and Restitution Task Force; and a closer look at the cost of governance to weed out all vestiges of corruption.

President Buhari assured the Committee that government would take a dispassionate look into all the requests.

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By David Torough, Abuja, Attah Ede, Makurdi and Jude Dangwam, Jos

A stray bullet has allegedly killed a student who was heading to the examination centre to sit for the ongoing West African Senior School Certificate Examination being organised by the West African Examination Council (WAEC) in Ibadan, the Oyo State capital.

The incident happened on Gbagi market road in the Egbeda Local Government Area of the state, when a stray bullet allegedly fired by a police officer in pursuit of a suspect hit and allegedly killed the student on Tuesday.
Angered by the sad incident, youths in Ibadan took to the street in protest of the killing of the student.Yesterday’s incident came a few days after operatives of the Nigeria Police Force had reportedly killed a 400-level student of Kwararafa University, identified as Emmanuella Ahenjir during a stop-and-search operation in Benue State.
The final student died after officers of the Nigerian police allegedly opened fire on a vehicle during a stop-and-search operation at Wurukum Roundabout in Makurdi.Investigations revealed that the boy was on a motorcycle with his father and twin brother when the incident struck.The student, according to multiple eyewitnesses, was on his way to the examination centre.One of the sources, simply identified as Ajani, said, “A police officer opened fire while chasing a fleeing vehicle. One of the bullets reportedly hit the student. The student was riding on a motorcycle with his father and twin brother.“The victim was immediately rushed to a nearby hospital, where he was pronounced dead on arrival.Another witness said, “The deceased was on his way to the examination centre alongside his twin brother when the tragedy happened.”Meanwhile, irate youths took the student’s lifeless body to the state Secretariat, Agodi, Ibadan, to demand justice and called on Governor Seyi Makinde to intervene.The deceased body has been deposited at Adeoyo Hospital morgue.As of press time, authorities have not released an official statement on the incident.NANS Condemns Death of WASSCE StudentThe National Association of Nigerian Students, Southwest Zone D, has strongly condemned the death of a student who was hit by a stray bullet while on his way to write his WASSCE exam in Ibadan, Oyo State.The student was reportedly in his father’s car, heading to the exam centre, when he was struck by a bullet fired by police officers chasing a Hilux vehicle.The President of the student group, Owolewa Taiwo, described the incident as a national disgrace and a direct attack on Nigerian students.In a statement signed on Tuesday by the Coordinator, Owolewa Taiwo, the General Secretary, Oluwole Olutunde, and the Public Relations Officer, Kuku Isaiah Eromidayo, NANS said, “It is with deep pain, heavy hearts, and righteous indignation that we, the leadership of the National Association of Nigerian Students (NANS) Southwest Zone D led by Comrade Owolewa Taiwo, condemn in the strongest terms the senseless and inexcusable killing of a WAEC candidate today, May 20, 2025, at Alaakia, Ibadan by a reckless officer of the Nigeria Police Force.”They explained that the victim was innocent and had nothing to do with the police chase.“According to verified reports, the young student was on his way to sit for his West African Examinations Council (WAEC) paper, an examination that represents the future dreams and aspirations of millions of Nigerian youths, when he was tragically struck by a stray bullet from policemen allegedly chasing a Hilux vehicle. The student, inside his father’s car, was unarmed, unthreatening, and clearly uninvolved. Yet, his life was cut short by the same institution meant to protect him.“This is not just an accident; it is a national disgrace and a direct attack on the Nigerian student body. We are tired of issuing condolence statements. We are tired of hashtags. We are tired of watching our comrades fall to bullets and brutality.”NANS demanded urgent actions from the authorities, saying, “Immediate identification, arrest, and prosecution of the officer responsible for this heinous act. Immediate suspension and investigation of the entire unit involved in this operation. From reports gathered this unit has ties to the disbanded SARS and has continued operating with impunity.“Public apology and adequate compensation to the family of the deceased student. A thorough overhaul and accountability process for rogue elements in the police force operating in Oyo State.”The student leaders also called on the Governor of Oyo State, Seyi Makinde, the state Commissioner of Police, and the Inspector General of Police to act quickly.“We call on His Excellency, Governor Seyi Makinde, the Oyo State Commissioner of Police, and the Inspector General of Police to rise to the occasion. The eyes of the Nigerian students and the entire nation are on you. You must not protect killers in uniform. You must not shield murderers under the guise of duty.“The Nigerian Police must stop killing our members. We are students, not criminals! We will not fold our arms and watch our colleagues be slaughtered. We will not keep quiet in the face of injustice.“We are giving a 24-hour ultimatum for action. Failure to respond will be met with the full weight of our resistance, peaceful protests, mass mobilisation, and legal action. An injury to one is an injury to all. In NANS Zone D, we prioritise the lives, safety, and dignity of Nigerian students above all. We say NO to police brutality. We say NO to extrajudicial killings. We say NO to the silence that fuels oppression.“This young comrade’s life must not be lost in vain. Justice must be done, and it must be seen to be done.”Again, Herdsmen killed Past PDP Chairman, Three Others in BenueSuspected armed Fulani herdsmen have again killed the immediate past Chairman of the People’s Democratic Party (PDP) for Tse-Defam, Mba’akov Vengav, Avihijime council ward, James Akase and three others in communities of Guma Local Government Area (LGA) and Gwer-West LGA of Benue State respectively, in a renewed attacks.DAILY ASSET gathered that, in Gwer-West LGA of the state, the herders shot to death, the immediate past Chairman of the People’s Democratic Party (PDP) for Tse-Defam, Mba’akov Vengav, Avihijime council ward, James Akase.While in a separate attack on the same day, the herdsmen killed another three persons in some communities in Guma LGA of the state.It was further learnt that the villages attacked by the marauding herdsmen include Tse Ikpe Ago, along Yogbo-Gyungu Aze road in Mbayer/Yandev council ward, and Tse Kologa in Mbagune, Nyiev council ward, of Guma LGA.A Public Affairs Analyst in the state, Tivta Samuel Aondohemba, said the attacks on the aforementioned communities were “coordinated and unprovoked.”He explained that the multiple attacks by the herders, which occurred on Monday, left many other persons in the communities severely injured, while others were currently receiving treatment in various hospitals across the area.Meanwhile, the current PDP ward chairman of Avihijime, council ward, Gwer-West LGA, Samuel Udam, noted that, Akase, a former ward chairman, who was displaced from his ancestral home, met with his death when he went back to his ancestral home in search of food to sustain his family.According to Udam, it was while on this mission that he was ambushed and killed by the armed herdsmen, who had virtually taken over the whole of Gwer-West LGA.The Gwer-West LG chairman, Victor Ormin who confirmed the killing of the PDP chairman in the area, explained that, the deceased went to the farm to get some food when he met his waterloo, adding that another man who was kidnapped on Monday was released later in the night after his family paid the ransom demanded from them.However, the attack launched by herdsmen on Tse Ikpe Ago, Mbayer/Yandev council ward, and Tse Kologa in Mbagune, Nyiev council ward, Guma LGA of the state, left three persons dead.Samuel Aondohemba, said during the attack on Tse Ikpe Ago, one Bartholomew Ikornya, lost his life; while at Kologa village, Gabriel Korlaga and one Kunde, lost their lives during the attacks, adding that on the other hand, Akura, another native of the area who was shot in the leg is currently receiving treatment at a government hospital in Makurdi, the state capital.”These senseless killings are yet another painful reminder of the unending bloodshed our people in Benue state continue to endure”, he said.Efforts to get the Guma LGA chairman, Maurice Orwough, as well as the spokesperson of the State Command of the Nigeria Police to comment on the matter proved abortive.They did not pick their calls, neither did they respond to messages put across to them.Herdsmen Ambush Community, Kill Nursing MotherGunmen suspected to be herdersmen Militia ambushed the natives of Bangai in Riyom local government area of Plateau state and killed a breastfeeding mother of 8 months old baby with two other women injured.The National President of Berom Youths Moulder-Association Dalyop Solomon Mwantiri made this known on Tuesday in a statement jointly signed by the Secretary General of the Association Bature Iliya Adazaram in Jos.Mwantiri alleged that the tragic development was carried out by suspected armed Fulani, who ambushed the unsuspected travelers on a motorcycle from Bangai to Riyom and opened gunfire at the victim and made away with the motorcycle.He noted that the injured eight-month-old baby, Dalo Benjamin was found in the mother’s pool of blood while Mary Monday, 52 years and Regina Monday, 50 year old sustained fatal injuries.The statement reads, “Armed Fulani militants, in another tragic moment, ambushed and killed one Mrs Kangyang Benjamin, 32 years, a breastfeeding mother of an eight-month old baby at about 11:21AM of today, 20th May, 2025.”Mwantiri explained that an eyewitness who recounted the unfortunate incident to the youth body said, “The armed Fulani ambushed the unsuspecting victims, who were on a motorcycle from Bangai to Riyom, not knowing that the attackers had pinned down with arms, which they used and opened gunfire at the victim.”After shooting at the victims, we saw the fulani hacking the victims, one of whom is Mrs Kangyang Benjamin, who gave up her ghost at Riyom General Hospital while the dead woman’s eight-month old baby by name Dalo Benjamin, Mary Monday, 52 years and Regina Monday, 50 year old sustained fatal injuries,” as the baby, though injured, was found in the mother’s pool of blood, recounts by an anonymous source that saw the incident.”The attackers took away a motorcycle of Habila Danladi, who narrowly escaped as the said fulani drove towards Shonong/Rankum (Mahanga) area,” he noted.The Berom Youths Moulder-Association (BYM) further called for the “dislodgement of all Fulani that grabbed over 151 lands in Plateau State otherwise law abiding citizens and residents would know no peace,” he stated

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Nigeria’s Capital Market Key to Achieving $1trn Economy – FG

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By Tony Obiechina, Abuja

Minister of Finance and Coordinating Minister of the Economy Wale Edun has emphasized the crucial role of the capital market in achieving the nation’s ambitious goal of becoming a $1 trillion economy.Edun, who spoke at the Capital Market Committee (CMC) meeting, was represented by Minister of State for Finance; Dr.

Doris Uzoka-Anite highlighted the market’s transformation since 2015, with improvements in governance structures, new products and platforms, stronger regulatory environment, and growing investor participation.
According to the Minister, the Implementation of the Capital Market Master Plan (2015-2025), has been instrumental in increasing the market’s contribution to the national economy, developing a sophisticated market structure, and improving competitiveness.
Edun said the revised plan prioritizes digitalization, innovation, sustainability, inclusion, and capital formation, aligning with the broader economic reform agenda.He said the passage of the new act modernizes the legal and regulatory framework, streamlines enforcement mechanisms, and provides clarity on emerging areas such as digital assets and crowdfunding.On the challenges and opportunities inherent in the Act, the Minister said, it will help deepen market participation, as well as ensure regulatory coordination remains tight.On the government’s private sector innovation in creating the needed environment for businesses to thrive, the Minister noted that the government is committed to creating an enabling environment for private sector innovation to flourish within a fair and transparent environment.The Minister added that the market is expected to contribute to the economy, serving not only for capital raising but also as a vehicle for wealth creation, economic inclusion, and long-term national resilience.He explained that, with the Securities and Exchange Commission undertaking regulatory reforms, including joining the GBMC Network of IOSCO in promoting and implementing ISSB Standards amongst others, the domestic economy has recorded the fastest GDP growth in about a decade in 2024, driven by a strong fourth quarter and improved fiscal position.Earlier in his speech, the DG SEC, Dr. Emomotimi Agama, emphasized the Commission’s commitment to regulatory reforms and capital market growth.According to him the enactment of the Investment and Securities Act (ISA) 2025 marks the beginning of a transformative new era for the capital market.Agama highlighted the Commission’s efforts to deepen engagement with stakeholders, ensure widespread dissemination and understanding of the new law, and drive innovation and compliance.He also emphasized the importance of restoring investor confidence, bringing timely relief to aggrieved investors, and creating a platform for broad-based participation of Nigerians in wealth creation.The SEC boss noted that the Commission has constituted an implementation team to thoroughly engage with every provision of the ISA 2025 and set up a dedicated sensitization team to deepen public understanding of the new law. A podcast series has also been launched to simplify the ISA 2025 and make it accessible to all Nigerians.Agama highlighted the Nigerian capital market’s impressive performance in 2024, with the NGX All-Share Index increasing by 37.65% and market capitalization growing by 53.39%. He also noted the Commission’s efforts to enhance regulatory efficiency, promote market integrity, and protect investors.The SEC boss emphasized the importance of financial inclusion and investor education, citing the Commission’s initiatives to empower women, youth, and grassroots communities. He also highlighted the Commission’s commitment to technology-driven solutions, including the launch of an e-survey to assess emerging technology adoption in the Nigerian capital market.Agama concluded by emphasizing the Commission’s commitment to fostering growth, transparency, and sustainability in the capital market, and looking forward to fruitful deliberations at the meeting.The highlight of the CMC meeting was the unveiling of the ISA Act 2025 by the minister.

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FG Boosts Internet Access, Rolls out $2bn Fibre Network

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By David Torough, Abuja

The Presidency on Monday said Nigeria’s Communications and Digital Economy sector attracted $191m in foreign direct investment in Q1 2024, a nine fold increase from $22m in Q1 2023.The Minister of Communications, Innovation and Digital Economy, Bosun Tijani disclosed this during an interview for an upcoming State House documentary marking President Tinubu’s second anniversary.

Special Adviser on Information and Strategy to the President, Bayo Onanuga, revealed in a statement yesterday titled; “Investment in Digital Economy Grows Ninefold, Rollout Of $2 Bn Fibre Optic Infrastructure Begins Q4: Bosun Tijani.
”Tijani highlighted the sector’s robust workforce development, driven by the three Million Technical Talent programme and revealed plans for a $2bn initiative to deploy 90,000 kilometres of fibre optic infrastructure nationwide, starting in Q4 2025.
“These foundational reforms, coupled with advancements in artificial intelligence and the startup ecosystem, have positioned Nigeria as a global leader in the digital economy,” Tijani stated.Comparing FDI inflows, he said, “In Q1 2023, the sector had about $22m; by Q1 2024, with this administration well underway, we reached $191m. The trend continued in Q2, increasing from $25m in 2023 to $114 m in 2024.”According to the minister, the 3MTT programme, launched in October 2023 to create a tech-savvy workforce, has already trained over 117,000 Nigerians in digital skills, surpassing its initial target of 30,000.“By last year, we had already moved that to over 117,000. With an additional 35,000 in training, the programme is nearing 10% of its 3 m goal. And in the rest of the time in office, we hope to reach three million,” he said.Regarding connectivity, Tijani announced that Project Bridge, focused on deploying 90,000 kilometres of fibre optic cable, will commence in the fourth quarter.“We are preparing a $2bn investment to ensure every Nigerian can access affordable, high-quality connectivity regardless of location. Increasing connectivity hubs by just 10 per cent could yield a 2.5 per cent GDP growth,” he said.Tijani celebrated Nigeria’s ranking among the world’s top 60 countries for AI readiness and developing a homegrown large language model.He also highlighted the launch of the AI Collective platform, supported by leading partners including Pierre Omidyar, Google, and Microsoft, to foster collaboration and innovation in artificial intelligence.For the first time in the country, the ministry has funded 55 academic researchers to explore technology applications in agriculture, healthcare, and education. In addition, N300m was invested in 10 startups using AI and blockchain to enhance agricultural productivity.On the Nigeria Startup House in San Francisco, an initiative targeting $5 billion in startup funding, Tijani said, “Our goal is to attract $5 billion in investments for Nigerian startups, supported by the Startup Pact and Trade Desk initiatives, which will connect local tech firms to global opportunities and government procurement.”Tijani revealed that over 500 government technologists have been trained in AI and Digital Public Infrastructure, and the groundbreaking Digital Economy Bill has passed its first reading in the National Assembly.To bridge rural connectivity gaps, the Minister projected that 7,000 telecom towers would be deployed, targeting 98 per cent nationwide coverage, adding that the Federal Executive Council had already approved the project.He described the progress on Right-of-Way issues as a game-changer for the country, revealing that 12 states in the federation have adopted zero-rated Right-of-Way policies.According to him, these efforts will support the National Broadband Plan’s goal of achieving 90% penetration by 2025, up from 48% in 2024.He projected the sector’s GDP contribution to rise from 16 per cent to 22 per cent, stating, “If a sector can increase its contribution by three to four per cent to the GDP, we’re about to see the economic growth we’ve not seen before. Technology allows us to bridge the gap between governments and the people.”Tijani said the government is not chasing quick wins. “The results we want to provide for Nigeria are long-lasting reforms that will transform our economy for generations to come”.

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