Trending News: Troops beat back ISWAP assault on Borno base, kill terroristsArmy swears in 3,439 fresh recruits“​You are an exceptional performer,” Tinubu says, marking Wike’s 58thSupreme Court rejects Tinubu’s pardon, upholds Maryam Sanda’s death sentenceNMDPRA launches gas trading market, licenses JEX marketsDangote refinery drops petrol to N699 per litrePanic at IHS Towers as ICPC raids Amnesty International eventSenate takes up screening of Tinubu’s 32 Ambassadorial picksNigeria advances toward T+1 settlement as SEC announces sweeping market reformsCBN approves 82 new BDCs under revised 2024 guidelinesJaiz Bank leads Africa as first IILM primary dealerECOWAS slams Benin’s foiled coup attemptNationwide crackdown: NDLEA seizes 7.6m Tramadol pills, 76,000kg cannabisMilitary claims coup in Benin, borders sealedNigerian Air Force jet crashes in Niger16 Rivers State assembly members, including speaker, switch to APCArnold out 2 months with thigh injuryMusa sworn in as defence ministerOgunjimi urges strategic leadership in Africa’s accounting professionSenate to screen Ex-CDS Musa as Defence MinisterBreaking : Tinubu appoints Christopher Musa as new defence ministerNDIC, NIESV Deepen ties on failed bank asset valuationBadaru quits as defence ministerTinubu approves National Tax Policy committeeNigeria’s revered Sufi leader Sheikh Dahiru Bauchi dies at 98NNPCL reports a N5.4 trillion profit for 2024Breaking: Atiku officially joins ADCBollywood star Dharmendra passes away at 89Atiku calls for probe into TSA revenue privatizationBauchi govt shuts schools amid rising insecurity threatsTinubu orders IGP to halt VIP police protection for elitesKwara church attack: Kidnapped worshippers released safelyJust in : 50 Niger schoolchildren escape kidnapping, CAN confirmsJust in : Bandits storm Niger Catholic school, kidnap students, staffNigeria AfCFTA Coordination Office mourns AwolowoZuldal Microfinance Bank not licensed – CBNDespite fall in economic  pressures , tough reforms still required – CBNOAGF unveils reforms to strengthen transparency in W’ Bank–funded projectsNITEL–MTEL pensioners storm finance ministry, demand 35 months’ arrears payment‘Bandits pact fails’ , Northern  elders demand military action in ZamfaraJust in: Young Navy Lt Yarima escapes assassination attempt in AbujaSkyline University graduates 223 students, recommits to quality educationPenCom targets 80m informal workers with new PPP schemeNAICOM, Interior Ministry partner to curb repatriation costsSEC to implement T+2 settlement November 28Tinubu reappoints Marwa as NDLEA chairmanNCP moves to regularise Afam Power Plant sale to TranscorpFG halts implementation of 15% import duty on petrol, dieselNigeria’s new capital gains tax: what investors should knowRMAFC pledges ongoing support for Oil & Gas host communitiesN’Assembly okays N1.15trn loan to cover 2025 budget gapSkyline University graduates 24 first-class studentsNigeria’s non-interest capital market hits N1.6trn — SEC DGNAICOM, Finance Ministry push NIIRA 2025 complianceNAICOM inaugurates groups to drive insurance reformsMeet Nigeria’s First Tax Ombudsman, Dr. John NwabuezeFG appoints John Nwabueze as first tax OmbudsmanKano to host NAMLAS’ 20th annual conference as group calls for sponsorship, partnershipsFG approves Carbon Market Framework, eyes $3bn yearlySEC warns against unregulated digital assets, ponzi schemesFG targets 2026 for port single window policy — ShettimaNigeria’s FATF exit to boost infrastructure investment— ICRCCBN refutes $1.26bn oil import disbursement claimNAICOM, FRSC team up to enforce motor InsuranceTinubu drops Sanda, drug offenders, others from clemency listPenCom, ICPC partner to enforce pension complianceEdun: Economic reforms aimed at protecting poor, vulnerableDangote seeks $5bn Afreximbank funding for refinery expansionPantami urges Islamic Banks to lead ethical digital finance driveTinubu holds first talks with new Service Chiefs in Aso RockKano Hisbah arrests 25 suspects for alleged same-sex marriageN’ Assembly approves creation of 6 new statesTinubu hails Nigeria’s delisting from FATF grey listRice prices drop in Lagos as border imports flood marketsGovernors back Women’s representation billTinubu reshuffles military, appoints new Service ChiefsLafarge africa reports N780.48bn revenue, profit up 246%Kwankwaso @69: Nigeria celebrates an iconSEC DG: Sustainable finance reshaping global investmentsOAGF denies salary delay linked to IPPIS upgradeASUU suspends two-week warning strikeNigeria, South Africa deepen ties, review bilateral progressSanda’s release stalled as AGF orders review of pardon listTinubu nominates Bernard Doro as ministerRMAFC, FIRS launch revenue recovery driveINTERPOL Nigeria recovers two stolen cars from NetherlandsCBN, Bank of Angola sign MoU to deepen cooperationWike flags off access road, bridge in FCT research districtTinubu lauds Obamuroh’s rise to Partner at White & Case LLPFG, States, LGs share N2.1trn for September–FAACNigeria, IsDB deepen ties to spur development financingFinancial literacy vital for navigating today’s economy–AgamaZenith bank surpasses CBN target with ₦350bn oversubscribed offerNigeria highlights economic gains at G24 meetingsNigeria deepens ties with JICA, MIGA to boost investmentRMAFC moves to review Nigeria’s revenue sharing formulaFG backs Commonwealth initiative to expand trade tiesOmosehin to WAICA: Insurers must lead on climate responseTechnology vital for boosting investor confidence — SEC DGEdun slightly ill , Cardoso to represent him at  W’Bank-IMF meeting – FG
Sun. Dec 14th, 2025
Trending News: Troops beat back ISWAP assault on Borno base, kill terroristsArmy swears in 3,439 fresh recruits“​You are an exceptional performer,” Tinubu says, marking Wike’s 58thSupreme Court rejects Tinubu’s pardon, upholds Maryam Sanda’s death sentenceNMDPRA launches gas trading market, licenses JEX marketsDangote refinery drops petrol to N699 per litrePanic at IHS Towers as ICPC raids Amnesty International eventSenate takes up screening of Tinubu’s 32 Ambassadorial picksNigeria advances toward T+1 settlement as SEC announces sweeping market reformsCBN approves 82 new BDCs under revised 2024 guidelinesJaiz Bank leads Africa as first IILM primary dealerECOWAS slams Benin’s foiled coup attemptNationwide crackdown: NDLEA seizes 7.6m Tramadol pills, 76,000kg cannabisMilitary claims coup in Benin, borders sealedNigerian Air Force jet crashes in Niger16 Rivers State assembly members, including speaker, switch to APCArnold out 2 months with thigh injuryMusa sworn in as defence ministerOgunjimi urges strategic leadership in Africa’s accounting professionSenate to screen Ex-CDS Musa as Defence MinisterBreaking : Tinubu appoints Christopher Musa as new defence ministerNDIC, NIESV Deepen ties on failed bank asset valuationBadaru quits as defence ministerTinubu approves National Tax Policy committeeNigeria’s revered Sufi leader Sheikh Dahiru Bauchi dies at 98NNPCL reports a N5.4 trillion profit for 2024Breaking: Atiku officially joins ADCBollywood star Dharmendra passes away at 89Atiku calls for probe into TSA revenue privatizationBauchi govt shuts schools amid rising insecurity threatsTinubu orders IGP to halt VIP police protection for elitesKwara church attack: Kidnapped worshippers released safelyJust in : 50 Niger schoolchildren escape kidnapping, CAN confirmsJust in : Bandits storm Niger Catholic school, kidnap students, staffNigeria AfCFTA Coordination Office mourns AwolowoZuldal Microfinance Bank not licensed – CBNDespite fall in economic  pressures , tough reforms still required – CBNOAGF unveils reforms to strengthen transparency in W’ Bank–funded projectsNITEL–MTEL pensioners storm finance ministry, demand 35 months’ arrears payment‘Bandits pact fails’ , Northern  elders demand military action in ZamfaraJust in: Young Navy Lt Yarima escapes assassination attempt in AbujaSkyline University graduates 223 students, recommits to quality educationPenCom targets 80m informal workers with new PPP schemeNAICOM, Interior Ministry partner to curb repatriation costsSEC to implement T+2 settlement November 28Tinubu reappoints Marwa as NDLEA chairmanNCP moves to regularise Afam Power Plant sale to TranscorpFG halts implementation of 15% import duty on petrol, dieselNigeria’s new capital gains tax: what investors should knowRMAFC pledges ongoing support for Oil & Gas host communitiesN’Assembly okays N1.15trn loan to cover 2025 budget gapSkyline University graduates 24 first-class studentsNigeria’s non-interest capital market hits N1.6trn — SEC DGNAICOM, Finance Ministry push NIIRA 2025 complianceNAICOM inaugurates groups to drive insurance reformsMeet Nigeria’s First Tax Ombudsman, Dr. John NwabuezeFG appoints John Nwabueze as first tax OmbudsmanKano to host NAMLAS’ 20th annual conference as group calls for sponsorship, partnershipsFG approves Carbon Market Framework, eyes $3bn yearlySEC warns against unregulated digital assets, ponzi schemesFG targets 2026 for port single window policy — ShettimaNigeria’s FATF exit to boost infrastructure investment— ICRCCBN refutes $1.26bn oil import disbursement claimNAICOM, FRSC team up to enforce motor InsuranceTinubu drops Sanda, drug offenders, others from clemency listPenCom, ICPC partner to enforce pension complianceEdun: Economic reforms aimed at protecting poor, vulnerableDangote seeks $5bn Afreximbank funding for refinery expansionPantami urges Islamic Banks to lead ethical digital finance driveTinubu holds first talks with new Service Chiefs in Aso RockKano Hisbah arrests 25 suspects for alleged same-sex marriageN’ Assembly approves creation of 6 new statesTinubu hails Nigeria’s delisting from FATF grey listRice prices drop in Lagos as border imports flood marketsGovernors back Women’s representation billTinubu reshuffles military, appoints new Service ChiefsLafarge africa reports N780.48bn revenue, profit up 246%Kwankwaso @69: Nigeria celebrates an iconSEC DG: Sustainable finance reshaping global investmentsOAGF denies salary delay linked to IPPIS upgradeASUU suspends two-week warning strikeNigeria, South Africa deepen ties, review bilateral progressSanda’s release stalled as AGF orders review of pardon listTinubu nominates Bernard Doro as ministerRMAFC, FIRS launch revenue recovery driveINTERPOL Nigeria recovers two stolen cars from NetherlandsCBN, Bank of Angola sign MoU to deepen cooperationWike flags off access road, bridge in FCT research districtTinubu lauds Obamuroh’s rise to Partner at White & Case LLPFG, States, LGs share N2.1trn for September–FAACNigeria, IsDB deepen ties to spur development financingFinancial literacy vital for navigating today’s economy–AgamaZenith bank surpasses CBN target with ₦350bn oversubscribed offerNigeria highlights economic gains at G24 meetingsNigeria deepens ties with JICA, MIGA to boost investmentRMAFC moves to review Nigeria’s revenue sharing formulaFG backs Commonwealth initiative to expand trade tiesOmosehin to WAICA: Insurers must lead on climate responseTechnology vital for boosting investor confidence — SEC DGEdun slightly ill , Cardoso to represent him at  W’Bank-IMF meeting – FG
Sun. Dec 14th, 2025

EFCC arraigns Sunsteel MD for alleged $680,622 fraud

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The Economic and Financial Crimes Commission (EFCC) has arraigned Olalekan Adewoye, Managing Director and CEO of Sunsteel Industries Limited, over alleged $680,622.65 fraud.

Adewoye was brought before Justice Mojisola Dada of the Lagos State High Court in Ikeja on Thursday, alongside his companies, Sunlek Investments Limited and Sunsteel Industries Limited.

He faces a two-count charge of stealing and obtaining property by false pretence.

According to the EFCC, between 2013 and 2014, Adewoye dishonestly converted construction materials worth $680,622.65 belonging to Hexagon Im-und Export GmbH & Co KG, a German company for personal use.

The alleged offences contravene sections of the Advance Fee Fraud Act of 2006.

Adewoye pleaded not guilty, EFCC counsel Abdulhamid L. Tukur sought a trial date and urged the court to remand the defendant, while defence counsel Olusegun Jolaawo SAN requested bail, citing Adewoye’s compliance with EFCC’s administrative bail.

Justice Dada allowed the defendant to retain his administrative bail, ordering him to submit his passport and property documents to the court. The trial is scheduled to begin on June 3 and continue on June 19, 2025.

Abubakar Siddiq Ibn Usman

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