Crime
Lid blows open in Buhari Minister’s secret gas deal *Ahmed, ex-Finance Minister, fingered
A consultancy deal quietly orchestrated by Zainab Ahmed, former Minister of Finance, Budget and National Planning, is raising eyebrows in the power sector, with several insiders describing it as “illegal” and “a waste of public funds.”
TheCable reports that to execute a Make-up Gas Reprocessing (MUGR) deal, the ministry appointed a “transaction adviser” in an arrangement that some fear might land the federal government in legal challenges.
Make-up gas (MUG) is the gas a power generation company (GenCo) has already paid for but has, for one reason or another, not utilised during the year.
A gas supply agreement (GSA), a bilateral transaction executed by a GenCo and a gas supplier, spells out terms for a review of the clauses.
Ahmed, who had proposed that Nigeria could covert the MUG to liquified natural gas (LNG) and export to earn revenue for the federation, was said to have sought and got the approval of former President Muhammadu Buhari.
However, there are now questions as to her engagement of Ahmed Zakari & Co, an accounting firm, as transaction advisers in what is purely a bilateral agreement between Calabar Generation Company Limited (Calabar GenCo) and Accugas Ltd.
Calabar GenCo is owned by the Niger Delta Power Holding Company (NDPHC), which belongs to the three tiers of government, while Accugas is a private company.
“Accugas and NDPHC were already discussing the extension of the sunset date for the utilisation of the MUG without the involvement of any consultant or adviser. Both parties subsequently executed an addendum to the GSA that provides for the MUG to be utilised within seven years,” an official of the ministry of finance told TheCable.
“The implication is that at the time Zainab Ahmed executed the transaction agreement with Ahmed Zakari & Co in September 2022, they all knew that there was really nothing for the firm to do, beside being paid for doing nothing.”
TheCable could not confirm the exact fees Zakari & Co is being paid but sources said it is dollars.
The paper quoted an industry insider as saying: “The standard practice with respect to the utilisation of MUG is for the buyer to contact the seller and for both contracting parties to negotiate alternative durations for the utilisation of the MUG. This is necessary because it is gas that the buyer has already paid for. There is usually no requirement for a third party to get involved. Indeed, because the GSA is a bilateral agreement, it will cease to be so if third and fourth parties get involved.
“What would usually happen is for the two parties to concede doing one of the following or both: one, renegotiate the take-or-pay quantity upon which the GSA was executed or, two, extend the sunset date for the utilisation of the MUG.”
CURIOUS CONTRACT
Moyi Dahiru, then special assistant on power to Ahmed, had led the discussions with the power sector stakeholders to discuss the MUGR proposal early 2022.
In attendance were officials of the Nigerian Bulk Electricity Trading (NBET) Plc, NDPHC Ltd, Accugas and Azura.
An official of the ministry of finance told TheCable: “Azura made it clear to Mr Dahiru that they do not have any business with the MUGR, particularly because the government is not a party to the GSA.”
However, NDPHC — which manages the National Integrated Power Projects (NIPP), including 10 GenCos — did not raise any objections, reportedly because it did not want to upset ministry officials who process the payment of the gas invoices every month.
In February 2022, Ahmed secured an approval from Buhari to retain the accounting firm of Ahmad Zakari & Co as the transaction adviser.
This became effective from September 5, 2022 when the firm signed the agreement with the Federal Government of Nigeria (FGN), represented by the ministry of finance.
“Ahmad Zakari & Co’s agreement is of no effect, but money is being paid to the firm for doing nothing,” an official of the ministry of finance, who declined to be named for fear of victimisation, told TheCable.
“The truth is that top government officials usually connived with some of the principal members of staff in the Presidential Villa to mislead Buhari into signing all kinds of things, including appointments for the most unqualified persons and dubious payments.”
‘PRESIDENTIAL APPROVAL’
On May 24, 2023, Aliyu Ahmed, the permanent secretary in the ministry of finance, wrote a letter to Total Energies with the title ‘Make-Up gas re-purpose transaction, conveyance of extracts of presidential approval of global framework transaction’, conveying the directive of the government on the treatment of the MUG by GenCos.
The make-up gas belonging to Calabar GenCo is under the MUGR.
“If I were to advise President Bola Tinubu, he should direct the ministry of finance to stop all payments to Ahmed Zakari & Co and ask the ministry to submit a report of the payments that have been made to the firm so far and for what purposes,” an official said.
“President Tinubu should ask for all the agreements under this MUGR and demand a copy of the addendum which the Accugas executed with the NDPHC that extended the sunset date for the utilisation of the MUG to seven years.”
TheCable has contacted the media office of the former finance minister for comments.
TheCable understands that Dahiru has been putting pressure on Calabar GenCo to execute the deal since he left office with the former finance minister.
“The suspect offered ₦500 million to the SPU commander in an attempt to make the team stand down and allow him to contact his associates to move the consignment elsewhere. The offer was rejected immediately and properly documented for further investigation.”
These were the exact words of Olohundare Jimoh Assistant Inspector General of Police (AIG), with which he detailed how operatives of the Zone 2 Command of the Nigeria Police Force (NPF) scoffed at a N500million bribe to turn their eyes off the importation of a huge consignment of drugs imported into the country.
This was part of the details of a major breakthrough by the operatives after bursting a major drug trafficking syndicate in Lagos, which led to the seizure of suspected illicit drugs estimated at ₦7.8 billion and arresting several suspects, including the alleged kingpin.
In the operation, reportedly carried out by officers of the Special Protection Unit (SPU) in collaboration with divisional police detectives, the operatives, were said to have stormed a house in Mende, Maryland area of Lagos, following months of surveillance and intelligence gathering coordinated by the Zone 2 Headquarters.
The recovered drugs consisted of hundreds of bags of suspected Canadian Loud, allegedly stored in the residence of the prime suspect, Jimoh, said disclosing that the suspect was apprehended on May 19 after weeks of strategic monitoring by operatives.
Offering further details, he said the operation was executed with technical support and guidance from the Inspector-General of Police, IGP Olatunji Disu, alongside coordinated efforts between the SPU and divisional police teams.
Jimoh revealed that during the operation, the suspect allegedly attempted to bribe the SPU commander with ₦500 million to compromise the mission and allow the movement of the drug consignment.
The AIG described the development as a reflection of the renewed professionalism and operational discipline being entrenched in the Force under the current policing strategy.
He noted that the success of the operation underscored the importance of deploying specialized police units alongside conventional divisional teams in tackling organized crime.
According to him, the operation demonstrated the effectiveness of rapid containment strategies, intelligence-led policing, and professional conduct among the operatives involved in the raid.
“Rapid containment was achieved as the Special Protection Unit worked with divisional teams to secure the perimeter and prevent escape or interference with evidence.
“The operation was intelligence-driven, following months of surveillance and technical monitoring before the raid was carried out.
“The immediate rejection and documentation of the bribe attempt also reflect the standard expected from redeployed personnel at the divisional level,” Jimoh added.
Reacting to the development, the Inspector-General of Police, IGP Olatunji Disu, commended the operatives for their professionalism, saying the success of the operation validated the ongoing redeployment of personnel to divisions and units across Lagos and Ogun states.
The IGP noted: “Policing must be close to the people, and our specialized units must work side by side with divisional teams on the ground.
“The professionalism shown by the SPU commander in rejecting a ₦500 million bribe and following due procedure is the standard we expect. It shows that when you put your best foot forward at the grassroots, you get results and restore public trust.”
Disu further assured that the Force leadership would continue to reward integrity while holding officers accountable to the highest ethical standards.
Police authorities said exhibits recovered during the operation have been properly documented and will be tendered in court. The suspects are currently in custody while investigations continue to track down other members of the drug trafficking network.
A completely scandalised Peter Obi, candidate of the Labour Party (LP), in the 2023 presidential election is horrified that Nigeria has descended to the abysmal level of human degeneration where a teacher would be beheaded, recorded and video image shared freely to the public without consequences.
Obi, also former Governor of Anambra State, described the incident involving one of the teachers kidnapped last Friday during an attack on Community Grammar School, Baptist Nursery and Primary School, and L.A. Primary School all in Esiele community of Oriire Local Government Area of Oyo State as “not just a security challenge but a failure of collective humanity.”
On the heels of President Bola Tinubu’s promise on Monday assuring that all victims, comprising, teachers, staff and student of the said schools, Obi, expressed dismay at the utter degeneration of the Nigerian situation.
Writing on his X, Obi, currently running for presidency on the platform of the National Democratic Congress (NDC), said: “Some events shatter a society so deeply that words are no longer enough to express the shock; the brutal killing of a teacher and the horrific rape and murder of an elderly woman are among such tragedies.
“These are not isolated incidents but signs of deeper moral and social decay. How did we get here? How did we reach a point where teachers are hunted and killed, and the elderly—custodians of memory and wisdom—suffer such dehumanising violence?”
Titled ‘A Nation Losing Its HUMANITY’ late Monday, decried the incident and tagged it a sign of moral and social decay, he added: “This is more than a security crisis; it is a failure of collective humanity. We have become desensitised, consuming tragedy briefly and moving on, allowing indifference to normalise the unacceptable.
“To the families affected, I share in your grief. But grief alone is not enough. We must demand accountability and urgent systemic change. If such atrocities no longer move us to action, then we risk losing our shared humanity.”
Obi’s reaction comes after Seyi Makinde, on Sunday, confirmed the killing of one of the teachers abducted alongside other victims and pledged that the government would continue efforts to rescue the remaining abductees.
The governor, who also confirmed that seven teachers and an as-yet-unconfirmed number of pupils were abducted, said one of the abducted teachers, believed to be a Mathematics teacher, was killed by the terrorists.
He said: “What we know right now is that seven teachers were abducted. Unfortunately, we received a video this morning indicating that one of the teachers, understood to be the Mathematics teacher, was killed by the terrorists. Our prayers are with the family.”
Social media influencer and relationship therapist, Blessing Okoro, popularly known as Blessing CEO, has been arraigned before the Federal High Court in Ikoyi, Lagos, over an alleged N36 million fraud case.
She was docked on Friday by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) on a two-count charge bordering on obtaining money by false pretence and alleged theft.
According to the charge, Blessing CEO allegedly obtained N36 million from Mrs. Ifeyinwa Nonye Okoye between July 14 and 17, 2024, under the pretence of securing a six-bedroom duplex located in Lekki, Lagos, a statement on the anti-graft agency’s website said.
The prosecution alleged that the representation was false and violated provisions of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
She was also accused of fraudulently converting the said sum for personal use, contrary to the Criminal Code Act.
Blessing CEO pleaded “not guilty” to the charges when they were read in court.
Following her plea, the prosecution requested that she be remanded in a correctional facility pending trial, while the defence counsel said she had only just been served with the charges and was preparing a bail application.
Justice D. I. Dipeolu ordered that the defendant be remanded in EFCC custody pending the hearing of her bail application.
The case was adjourned till June 5, 2026, for trial.
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