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Legal Showdown: Abacha Family Demands Retraction from Minister Over $1.3 Billion OML 245 Claim
Legal Showdown: Abacha Family Demands Retraction from Minister Over $1.3 Billion OML 245 ClaimThe family of the late General Sani Abacha has vehemently rejected the Nigerian government’s assertion that all legal disputes concerning the Malabu Oil and Gas company have been resolved. This claim was reportedly made by the Minister of State for Petroleum Resources, Heineken Lokpobiri, during a recent public event in Abuja.....KINDLY READ THE FULL STORY HERE▶
In response, the Abacha family has issued a formal protest through their legal representative, Senior Advocate of Nigeria Reuben Okpanachi Atabo. The family has given Lokpobiri a 14-day ultimatum to retract his statement or face contempt of court charges.
The protest letter, delivered to the Attorney General and Minister of Petroleum’s offices on July 5, argues that Lokpobiri’s remarks at the “Nigerian Oil and Gas Energy Week” were inaccurate and misleading. The Abacha family insists that several court cases regarding the ownership of Malabu Oil and Gas are still active and unresolved.
Lokpobiri had claimed that the issues surrounding Oil Mining License (OML) 245 were settled and that the oil block would soon resume production. However, the Abacha family disputes this, highlighting that negotiations and agreements leading to the sale of OML 245 to Shell and Eni in 2011 were conducted without their involvement or consent.
The family’s legal representatives pointed out that these agreements resulted in the sale of the oil block for $1.3 billion, with the Abacha family neither participating in nor benefiting from this transaction. They further stressed that ongoing legal actions continue to challenge the legitimacy of these agreements.
The letter emphasizes that various court cases are still pending, including Suit No. FHC/ABJ/CS/201/2017, and that criminal charges related to the sale are still being pursued by the Economic and Financial Crimes Commission (EFCC). The Abacha family has called for a retraction of Lokpobiri’s statements, warning that failure to comply will lead to legal action.
The letter also criticizes Lokpobiri’s remarks as an affront to the judiciary, arguing that they undermine the authority of ongoing court proceedings and the rule of law in Nigeria.
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Osun State Governor Ademola Adeleke stated that state residents will refuse to yield to external pressure or intimidation ahead of the August 15 governorship election.....KINDLY READ THE FULL STORY HERE▶
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The statement was shared via his X account on Thursday, shortly after the Osun State Police Command detained Secretary to the State Government Teslim Igbalaye over allegations of vote buying.
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Although he did not directly address the arrest, Adeleke emphasized the resilience and determination of Osun’s people in protecting their rights, expressing full confidence that their collective will and mandate will triumph at the polls.
Electoral Outlook and Administration Record
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Adeleke highlighted that independent polling indicates a decisive victory for the Accord Party, driven by visible government impacts in healthcare, education, infrastructure, workers’ welfare, and pension reforms.
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Expressing strong optimism regarding his second-term bid, he urged citizens to stay united, remain vigilant, vote for the Accord Party, and safeguard their ballots.
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Lagos State Governor Babajide Sanwo-Olu has nominated Dr. Olufunke Omolara Tayo-Makanjuola to serve as the Acting State Auditor-General, pending confirmation by the Lagos State House of Assembly.....KINDLY READ THE FULL STORY HERE▶
Born on September 20, 1974, in Ikate-Elegushi, Eti-Osa Local Government Area, Dr. Tayo-Makanjuola boasts an extensive academic background:
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Doctorate: Doctor of Business Administration in International Business from Lagos State University, Ojo.
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Postgraduate Degrees: Master of Business Administration in Human Resource Management (Ladoke Akintola University of Technology) and a Postgraduate Diploma in Financial Management (Abubakar Tafawa Balewa University).
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Diplomas & Professional Certificates: Holds HND and ND certificates in Accounting from the Federal Polytechnic, Ilaro, alongside an Advanced Diploma in Forensic Accounting and Criminal Intelligence from the University of Lagos.
Professional Affiliations and Honors
She is a fellow and active member of major financial bodies, including:
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Institute of Chartered Accountants of Nigeria (ICAN)
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Association of National Accountants of Nigeria (ANAN)
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Chartered Institute of Taxation of Nigeria (CITN)
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Chartered Institute of Directors (CIoD)
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Certified Forensic Investigation Professionals, USA
Additionally, she has been honored with the Distinguished Woman of Peace and Honour Award by the United Nations Positive Livelihood Award Centre for her societal contributions.
Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, explained the utilization of savings generated from the removal of fuel and foreign exchange subsidies. Speaking on Thursday at the 7th Africa Emerging Markets Forum in Abuja, Oyedele outlined how these funds have supported critical government obligations.....KINDLY READ THE FULL STORY HERE▶
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Key Obligations: The accumulated savings have funded debt servicing, government salaries, the new national minimum wage, and student loans.
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Ceasing Money Creation: Oyedele noted that the savings absorbed the financial pressure after the government stopped relying on money creation (Ways and Means) to finance its expenditures.
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Surging Debt Costs: Higher interest rates caused borrowing rates to spike from around 8% to as high as 24%, demanding immediate and punctual debt service payments using the saved funds.
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Minimum Wage Impact: Moving the national minimum wage from ₦30,000 to ₦70,000 nearly doubled the federal wage bill, which was partially supported by the subsidy savings.
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Student Loans: The Nigerian Education Loan Fund utilized these resources to provide tuition support and monthly stipends to over 1.5 million students, easing financial pressure on households.
Rationale Behind Subsidy Removal and Borrowing
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System Reforms: Beyond simply accumulating capital, the subsidies—which previously accounted for roughly 5% of Nigeria’s GDP—were eliminated primarily to combat systemic distortions and corruption.
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Transparency Commitment: Oyedele acknowledged that public inquiries into the use of funds are legitimate, announcing that a comprehensive breakdown detailing total savings and expenditures will soon be published
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