Connect with us


BUA’s Abdul Samad Rabiu, Emefiele’s Multi-Billion Dollar Racketeering Deals Exposed!



Emefiele/Abdul Samad Rabiu

This exclusive report x-rays the dirty dollar racketeering deals between Abdul Samad Rabiu, founder of BUA Group, and suspended Central Bank of Nigeria Governor, Godwin Emefiele.

In what has been described by many as a season movie, the just suspended former Governor of Nigeria’s Apex Bank, Godwin Emefiele has been in the custody of men of the Department of State Security (DSS) since he was removed from office by the Tinubu administration over allegations bordering on corrupt practices while in office.

Reacting to Emefiele’s incarceration, President Bola Ahmed Tinubu who addressed an interactive session of Nigerians in Paris revealed that the country’s financial system under the watch of the former CBN Governor was indeed ‘rotten”.

Tinubu’s statement which didn’t come to many as a surprise gives credence to many allegations of infractions and confirmed cases of corruption, roundtripping, and other dirty insider dealing at the CBN, most of which, Emefiele spearheaded, according to findings by ENigeria Newspaper.

ENigeria Newspaper reports that Godwin Emefiele reportedly spearheaded a dollar racketeering ring that consists of his cronies among whom is Abdul Samad Rabiu the founder of BUA Group, a Nigerian conglomerate with interest in oil, cement, FMCG, et al.
This Newspaper reports that at the expense of impoverished Nigerians, the embattled CBN Governor opened a forex credit line for Rabiu which enables him to borrow at the official rate of N199 at the time, resell at a black-market rate of N495, and rake in billions of naira in turnover in quick succession.

This investigation which is the first part chronicles Nigerian billionaires who enjoyed Emefiele’s dollar largesse by cheating the entire Nigerian financial system.

The investigation takes a cursory look and exposes heaps of illegal financial dealing between CBN and BUA Group in a brazen manner, demonstrating a massive credit from the CBN to the controversial Abdul Samad Rabiu-led company.

BUA’s Abdul Samad Rabiu, Emefiele’s Multi-Billion Dollar Racketeering Deals Exposed!

For instance, Emefiele allegedly ordered the transfer of N1,382,500,000 being a forex purchase to BUA on 8th January 2016.
On 18th January, BUA International purchased the dollar equivalent of N386,799,033.70 using the official rate of N199 while the black-market rate at the time was N495. On the same day, Emefiele was said to have ordered another disbursement of forex worth N520,217,528 to BUA. Another N1,382,500,000 was also sent on the same day as well as on 22nd January respectively.

On 22nd January, another N386,799.033 and N520,217,528 was again wired from CBN account in forex to BUA.
On 15th February, similar disbursements of N386,799.033, N1,382,500,000, and N520,217,528 left the nation’s account to BUA.
Similarly, on 23rd February, N386,799.033 and N520,217,528 made BUA International smile on the order of Emefiele. In like manner, again on 2nd March the company got another lodgment of N386,799.033 and N520,217,528.

On 11th March, BUA further purchased $12,282,002 in double tranches from CBN while on 23rd March, $29,625,000 was also moved from CBN to the government-fed billionaire to its BUA Sugar Refinery account to Ecobank account number 9992021618.

On 31st March, the country’s foreign reserve depleted with $49,375,000 from CBN to BUA into its Ecobank account number 9992023306. Via its GTB account 214161839, USD sale of forex at the official rate of N197.5 worth N2 billion was again given to the company by CBN.
Via CBN intervention fund when the company was financially viable, the sum of N392,034,060 in three tranches was paid to BUA Sugar Refinery using the official rate of N198 to its Stanbic IBTC account number 11889618. Troves of these financial documents saw over N40 billion in returns to Abdul Samad Rabiu-led BUA alone, in the year 2016 with the active connivance of Godwin Emefiele.

As stated earlier, this investigation takes a look elaborately at and exposes the role of a corrupt CBN headed by Emefiele, a former Managing Director of Zenith Bank Plc, and how he transformed the fortune of Abdul Samad Rabiu and other Northern billions in his cadre and transformed them into global moneybags at the expense of other hardworking Nigerians.
More to come in our next publication.

Source: E-Nigeria

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


Abiodun declares state of emergency on flooded Isheri community

…assures residents of permanent solution after comprehensive assessment




Governor Dapo Abiodun

Ogun State Governor, Prince Dapo Abiodun, on Monday declared state of emergency on the flooded  Isheri community,  in Ifo Local Government Area of the State, as he assured residents of the area quick intervention to save the situation.

The governor added  that a comprehensive assessment that would lead to permanent solution to the menace of  flooding in the affected area  would be conducted very soon.

Prince Abiodun, who stated this while fielding questions from newsmen after inspecting the flooded community, said that his administration is working with the federal government to deal with the situation as an emergency case.

He noted that the time has come to find a lasting solution to the perennial flooding to make the area morw conducive for living.

According to him, the state government will see to the elevation of some roads in the area as parts of the solutions to the problem.

The govenor said: “We will prioritize the works here because I am touched with what I have seen. I will ensure that we immediately begin to see signs of relief as we are stepping this up. The Minister of State for Environment is already aware. The Vice President is already aware and also the president. It will be dealt with as an emergency and we are taking it as such.

“As an emergency, I will like to take it up myself. Please continue to bear with us as we are going to conduct a comprehensive assessment of what we need to do to make this place conducive for living.

“Whatever that assessment comes up with is what we are going to implement. So, we are going to first start with ensuring that we have the required road infrastructure at the appropriate levels.

“So if you now built in such a way that we need to relocate you, we have to do that. Whatever it is that we must do to ensure that place does not persistently experience flood, we will do it. But let us wait for the result of the studies to come back and then we will begin to take that decision as and when the situation arises.”

Addressing residents of Riverview Estate, Governor Abiodun said he has requested for an area survey of the entire estate to identify critical areas that needed immediately intervention.

He assured that the intervention would come through the construction of an elevated road with adequate drainages to mitigate their suffering.

“I want to assure you today, knowing fully well that we are a promise keeping administration, we do not say what we do not mean, my heart goes out to you, it is very unfortunate, I am giving my commitment today, the commissioner for works will come and see what needs to be done.

“We have also engage the Minister of State for the Environment, who fortunately, is from Ogun State and I have already brought this to his attention.

“Before the end of the week, I will also table it before the Vice President and the President as well so that we ensure that this problem gets all the desired attention and consequently gets the desired solution so we can bring this to an end,” he said.

The governor also disclosed that he and the Minister of Water Resources would visit the community in few days time.

“We will also discuss the issue of the Ogun-Osun River Basin Authority and try and interrogate the activities there and understand how their activities affect this community and other communities with respect to the opening and closing of the dam,” he said.

The governor described the environment around the Kara cattle market as an eyesore and not befitting the dreams of a “new Ogun State”.

He said that the market was not conducive for human living and not in tandem with the Sustainable Development Goals and waste disposal.

He, however, acknowledged the area as one of the biggest commercial operation that provide services to a large number of people, even as he assured that government would go into a satisfactory agreement with the market men and women after which a comprehensive beautification of the area would take place.

The Chairman, Riverview Estate, Abayomi Akande, in his remarks, intimated the governor of the suffering residents of the area are going through as a result of the flooding.

He said that there is a need for a panel of inquiry into the operations of Oyan Dam to stop incessant release of water to cause havoc in the State

He applauded the governor for sending miscreants packing from the road, saying residents of the axis have suffered robbery attacks and other criminalities for quite awhile.

Akande urged the state government to think of converting the area into a Government Residential Area (GRA) through Public Private Partnership arrangement to fast track its development.

Continue Reading


MediaTek, Airtel Nigeria intensify collaborative efforts to bolster mobile connectivity in Nigeria




Airtel’s logo

Lagos, Nigeria – October 12, 2023 – MediaTek, a global leader in semiconductor industry together with Airtel Nigeria, a leading telecommunications service provider, briefed the local media on Thursday on their collaborative efforts, to drive technological advancements and improve mobile connectivity across the nation.
The collaboration introduces MediaTek’s T750-powered Customer Premises Equipment (CPE), a groundbreaking technology that enhances internet connectivity. This advancement allows users to access high-speed 5G networks from the comfort of their homes, opening doors to remote work, gaming, online education, and entertainment streaming like never before.

Speaking during the session, Rami Osman, Director for Corporate Sales and Marketing at MediaTek, Middle East Africa, highlighted MediaTek’s commitment towards expanding its footprint across the Smartphone and Smart Device ecosystem in the Middle East & Africa (MEA) region.
“MediaTek is at the forefront of the global semiconductor industry, and we are proud to lead the way in key sectors like Smartphones, 5G Fixed Wireless Access, Wi-Fi, TV, and AI-IoT. In Nigeria, our collaboration with Airtel Nigeria, revolves around three core areas of focus. In connectivity, we are enhancing high-speed internet access with our advanced chipsets.”

“In the Smartphone domain, we are committed to offering a wider range of premium and flagship devices while supporting the transition from feature phones to smartphones. In the realm of AI-IoT, we are exploring new possibilities and technologies. Thus, this will promote digital inclusion, revolutionize connectivity in Nigeria, and contribute to sustainable development goals,” said Osman.

In addition, he said, “This collaboration aligns seamlessly with our MEA agenda, laying a robust foundation for the future of 5G technology. As we move forward, we are excited to lead in technological progress within this continually evolving region.”

Ismail Olusegun Adeshina, Director, Marketing at Airtel Nigeria, emphasized the importance of the partnership with MediaTek and how it will provide affordable connectivity to Nigerians. He stated, “Our commitment to innovation is evident through our early adoption of 5G technology. We’re proactively investing in this technology to improve connectivity, to tackle coverage and cost challenges, and make 5G devices more accessible across Nigeria”.

MediaTek powers globally recognized brands and remains dedicated to providing state-of-the-art innovations through its latest products and solutions. These offerings span a diverse range, including smartphones, smart devices, automotive technology, satellite connectivity solutions, and next-generation wearables.

MediaTek’s product portfolio includes MediaTek Dimensity for 5G smartphones, MediaTek HelioG series for 4G gaming smartphones, MediaTek Kompanio for arm-based Chromebooks, MediaTek Pentonic for Smart TV technologies, MediaTek Genio for Internet of Things applications, MediaTek Filogic for advanced Wi-Fi 6/6E & Wi-Fi 7 solutions, and MediaTek Dimensity Auto for cutting-edge automotive technologies, among others.
For more information, please visit:

Continue Reading


Bigi Brand’s Annual “Watch & Win” Promo Returns with Grand Prizes




The award-winning Bigi Carbonated Soft Drink brand, a product of Rite Foods Limited, is delighted to unveil her highly-anticipated fourth edition of its “Bigi Watch and Win” promo. Designed exclusively for movie enthusiasts in Lagos and Abuja, this exciting promo offers participants the opportunity to watch their favourite movies and win fantastic prizes.

From September 18, 2023, to November 18, 2023, movie goers can enjoy any film of their choice at Silverbird Cinemas and receive a raffle ticket. These tickets can be redeemed for a chance to win incredible prizes, including laptops, Bigi products, printers, perfumes, and more. The grand prize for this edition is a brand-new car.

The first edition of “Bigi Watch and Win” took place in 2021, and later that same year in December, the Bigi brand held another edition. Since then, it has become an annual tradition, demonstrating Rite Foods Limited’s commitment to rewarding brand loyalty among its valued consumers.

Ms. Biola Aransiola, Assistant Brand Manager for Bigi, expressed her excitement about the fourth edition of the promo, saying, “We’ve partnered with Silverbird Cinemas to enhance people’s movie-going experience. Movie lovers can enjoy any of our 13 Bigi Carbonated Soft Drink flavours while watching their favourite films and stand a chance to win amazing prizes.”

Ms. Aransiola also mentioned that her favourite part is witnessing participants’ reactions when they discover the incredible prizes they have won, particularly the grand prize—a brand-new car. She encourages potential participants to check @getbigi on all social media platforms for the terms and conditions.

Through the “Watch & Win” promo, the Bigi brand accentuates Rite Foods Limited’s dedication to supporting the entertainment industry. The brand continues to sponsor movie premieres, as it has in the past with movies such as “The Prophetess,” “Progressive Tailors Club,” and “Aki and Pawpaw.” Additionally, it has been a consistent sponsor of the popular talent discovery platform, Nigerian Idol, for three consecutive seasons (6, 7, & 8), helping aspiring Nigerian singers achieve their dreams of stardom in the music industry.

The “Watch & Win” promo, combined with other effective marketing initiatives, has earned the Bigi brand numerous awards within its market segment. In 2023, Bigi Cola was honored with the “Best Value for Money” award at the BrandXchange Consumers Value Awards. In 2022, it received the “Fastest Growing Cola Brand of the Year” award at the Marketing Edge Brands and Advertising Excellence Awards in Lagos. The Bigi brand also claimed the “Most Outstanding CSD Brand of the Year” award at the 2021 Brandcom Awards, solidifying its position as a market leader in the beverage industry, outperforming its competitors.

Continue Reading


Mega Awareness 2023