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Dramatic U-turn! EFCC Reduces N1B Subsidy Charges Against Abdulai Alao To N116M

Published

10 years ago

July 29, 2015

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A funny episode is playing out at the court of law over the dramatic twist by the Economic and Financial Crimes Commission to reduce the One Billion Four Hundred and Seventy One Million Nine Hundred and Sixty Nine Thousand Sixty Hundred and Forty Three Naira Thirty One Kobo oil subsidy theft charge against the son of late islamic cleric, Alhaji Abdulazeez Arisekola Alao, Abdulai to One Hundred and Sixteen Million Naira for lack of substance.

Information pieced by Papermacheonline revealed that the anti corruption agency’s triumph in the celebrated cases of oil theft that became public knowledge some years ago was reduced to mere figment by the report of a private forensic firm which faulted most of the allegations by the EFCC against the Axx Energy boss and the confession of a major witness who claimed he was made to bear witness against Abdulai under duress.

A report by a daily newspaper, Daily Independent also lend credence to the dramatic turn of events where the prosecuting agency could not provide solid evidence to back up the charges against Abdulai.

A part result by the prosecution witness, Okechukwu Opo alleged he was threatened by the EFCC to deny his earlier statement that he indeed signed the Empty Tank Certificate of MT Brave Vessel.

Mr Opo, a surveyor at the General Marine Oil Services gave details of how he was intimated by the EFCC to give a false report that he didn’t sign the Empty Tank Certificate.

A source within the commission disclosed to papermache that ‘Abdulai is just a victim of circumstance and a fall guy used to cover up the dirty deals of other influential individuals who are the principal actors in the oil subsidy case’.

The new development in the case of Abdulai was said to have raised the hopes of others who claimed they had been wrongfully accused and suffered similar fate as Abdulai.

The emerging fresh facts bring a little succor to Abdulai and his counsels who have been putting up a good show at the court to establish his innocence.

The vilification and humiliation he had suffered in the wake of the oil subsidy scandal is likely to be over if his counsels can further convince the court of the faulty charges against him.

Related Topics:abdulahi alao axx energy EFCC

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Tunde Ednut Earns $5,000 Per Day! -Report

Published

2 months ago

September 22, 2025

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“Tunde Ednut earns $5,000 average per day, ISWIS made approx $200,000 from live events in one month” — Chude Jideonwo unveils creator economy data at Digital Creator Africa Summit

At the inaugural Digital Creator Africa Summit, media entrepreneur and #WithChude host Chude Jideonwo unveiled new data positioning the Nigerian creator economy as one of the most commercially powerful industries on the continent.

Highlighting explosive growth and overlooked business models, Jideonwo revealed that:

• Tunde Ednut, the former musician turned Instagram media mogul, is estimated to earn over $5,000 a day through his platform — with a business model based on affiliate promotion, Instagram advertising, and music amplification.

• The hit podcast “I Said What I Said” (ISWIS) reportedly made approximately $200,000 in gross revenue from live events alone in a single month, drawing thousands of fans across there US, the UK and Canada.

• “What these numbers show,” Jideonwo said, “is that creators are no longer just influencers — they are media companies, and increasingly, nation-builders.”

The summit, held in Lagos and attended by creators, investors, and media leaders, was designed to shift the conversation from virality to value — reframing content creation as infrastructure, not just entertainment.

As part of his address, Jideonwo announced his $500,000 personal commitment to the FourthMainland Creator Fund — a catalytic investment vehicle to back high-potential African creators with funding, IP support, and platform distribution.

“We’re building the Mavin Records of storytelling,” he said. “Not just with fame, but with financial tools, ownership, and a full studio system that lets creators scale across the continent and diaspora.”

The Creator Fund is part of the broader FourthMainland ecosystem, a creator commerce platform set to launch in 2026. The platform will offer monetization tools, subscription infrastructure, and joint-IP models built around African content — positioning it as the first at-scale infrastructure for the continent’s growing $100B creator economy.

Jideonwo, whose ventures include Joy, Inc., #WithChude, and YNaija, closed with a call to funders and policymakers:

“If music had Mavin Records and tech had CcHub, then creators now have their studio systems — their Mavins — and they’re building billion-dollar value chains without waiting for permission.”

The keynote, titled “Overtaking is Allowed,” argued that Africa’s most important civic and cultural shifts today are being led by independent creators, and that media-tech infrastructure for creators is now one of the biggest opportunities for economic growth across the continent.

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What Ibadan Socialite, Fijabi’s Leak Audio Has Done To Minister Adelabu’s Guber Ambition

Published

5 months ago

July 1, 2025

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A recent viral moment has unexpectedly stirred the political waters for Power Minister Adebayo Adelabu’s 2027 gubernatorial bid in Oyo State. Here’s how it unfolded—and the fallout that followed:

An audio featuring Ibadan socialite, Chief Akinade Fijabi and an unidentified young man surfaced online.

In the audio, Fijabi, an Ibadan high Chief and singer, Wasiu Ayinde’s closest ally bared his thoughts on political bearings in Oyo State and centred it round the Minister for Power, Adebayo Adelabu.

The audio quickly gained traction, sparking laughter and debate across social media platforms in Oyo and beyond.

The audio briefly overshadowed Adelabu’s image and critics seized the moment to question his ability, business sense and highlight potential vulnerabilities in managing grassroots affairs.

Even before the audio, Adelabu’s return to APC and flirtation with a 2027 run had unsettled internal party dynamics. The audio gave fuel to factions already uneasy about his rapid elevation and perceived attempt at imposition.

APC hardliners and youth groups, who’ve openly criticized the party’s handling of aspirants like Adelabu, echoed that the viral moment underscores deeper frustration about favoritism .

Adelabu’s allies are downplaying the audio, arguing that public interactions reflect openness and a grassroots presence and qualities essential for statewide appeal. They’ve also pointed to his achievements, including boosting national grid capacity, as evidence of credible leadership .

Fijabi in the audio also shed some lights based on what he termed ‘reliable information’ on Governor Makinde’s Presidential ambition, claiming it was a plot to collapse the PDP in Oyo State for President Tinubu with an agreement that the Governor would be granted the request to install a successor.

The clip audio shifted part of the conversation from Adelabu’s technocratic record to his public persona. Analysts say managing optics now matters more than ever for his brand.