FCT Minister, Nyesom Wike Involved In Land Grabbing Scheme In Abuja—-Thecloudngr reports that an investigation by an online publication has revealed that Nyesom Wike, the Federal Capital Territory (FCT) Minister, is allegedly involved in a widespread land-grabbing operation, using front companies to acquire lands in various parts of Abuja.
TCN understands that documents obtained by SaharaReporters implicated Wike, along with Kingsley Chinda, the Minority Leader in the House of Representatives, who is reportedly a director in one of the companies, Saravera Nigeria Limited.
The report claims that Wike and his associates have been using front companies such as Saravera and Aleed Construction Limited to illegally take over revoked lands, reallocating them to their cronies.
The scheme, which allegedly includes figures like Adapoyi Akor, is said to involve the systematic appropriation of lands from unsuspecting citizens, leaving them homeless.
This revelation has drawn calls for investigations by the Code of Conduct Bureau (CCB), with several leaders demanding that President Bola Tinubu intervene.
The Southern Leaders Council has urged the CCB to act swiftly and hold both Wike and Chinda accountable for what they describe as land racketeering and abuse of office. There are also growing demands for the House of Representatives to suspend Chinda.
Furthermore, sources within the FCT Administration have called for a comprehensive audit of all revoked lands, particularly focusing on those allegedly reallocated under Wike’s directive.
“This is documentary evidence of how Wike revokes innocent people’s lands like the late Colonel Ogbebor and reallocates to himself using front companies managed and owned by his confidant, Kingsley Chinda, a sitting House of Reps member in violation of the Code of Conduct law and one Adapoyi, his agent,” Sahara Reporters quoted a source as saying in the report.
Another company in the land-grabbing scandal is Garden City Mall, Port-Harcourt which is alleged to have ties with Wike.
“Nigerians are watching to see how DSS and President Tinubu will handle this smelly FCT land scam to either confirm or disapprove the rumour by Wike camp that the president is part of everything they do with peoples lands and his people are also beneficiaries,” another source quoted in the report stated.
….Denies Dodging Probe, Pledges to Appear After Treatment
By Adesina Adeleja
Former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, has described the Senate Committee on Public Accounts’ decision to issue an arrest warrant against him as “deeply shocking.”
In a formal letter addressed to the committee chairman, Kyari clarified that he had earlier informed the panel of his inability to appear due to medical treatment abroad.
“I refer to the news of the arrest warrant issued against me during the proceedings of your esteemed Committee today, 10th June, 2026. I am deeply shocked by the issuance of the warrant,” Kyari wrote.
He referenced a letter sent to the committee on May 11, 2026, in which he notified lawmakers that he was receiving medical care outside the country. In that correspondence, Kyari expressed his willingness to honour the committee’s invitation upon his return to Nigeria and offered to provide written responses to any urgent questions through his legal representatives.
“I also expressed my willingness to honour the Committee’s invitation as soon as I return to Nigeria,” he stated. “I wish to reiterate that I remain very willing and ready to honour the invitation of the Committee and to appear before it once I return to the country.”
Kyari firmly denied any attempt to evade the Senate’s invitation, noting that he had not received any fresh summons before the warrant was issued.
“However, I wish to respectfully state that I have neither received nor sighted the said invitation,” he said. “Had the invitation reached me, I would have gladly honoured it.”
The former NNPCL boss explained that his current medical condition has made it impossible for him to appear in person. He urged the committee to channel any questions or requests for clarification through his legal team to ensure prompt responses while he continues treatment abroad.
Kyari assured the Senate of his full cooperation and respect for the legislative oversight process. He pledged to appear before the committee personally as soon as his health permits.
Defence of Tenure
In the letter, Kyari also defended his leadership of the national oil company, stating that his team transformed NNPCL from a loss-making entity into a profitable commercial organisation. He added that all transactions during his tenure were properly documented and remain available for scrutiny at the NNPCL.
“I remain deeply grateful to my country for the opportunity afforded me to serve with utmost diligence and commitment,” he said.
Background
The Senate Committee on Public Accounts issued the arrest warrant after Kyari failed to appear at its sitting. The panel is investigating financial records and transactions of the NNPCL, including allegations surrounding over ₦210 trillion.
The motion for the warrant was moved by Senator Victor Umeh and seconded by Senator Adams Oshiomhole.
Kyari’s latest response appears aimed at dispelling suggestions of deliberate non-cooperation, attributing his absence primarily to health reasons and possible communication gaps regarding subsequent invitations. He has maintained that he has nothing to hide and remains committed to assisting the investigation.
Alpha Morgan Bank has announced a landmark financial performance, recording Profit Before Tax of N1.9 billion in just 10 months of operations, a result that stands as a major milestone in Nigeria’s banking industry and reinforces the Bank’s emergence as one of the country’s most remarkable new-generation financial institutions.
With this performance, Alpha Morgan Bank did not only break-even within an exceptionally short period, but also delivered what is believed to be a record-setting early-profit performance in the Nigerian banking sector, underlining the strength of its strategy, the discipline of its execution and the confidence the market has placed in its business model.
The Bank’s strong debut performance was supported by robust growth across key financial and operating indicators. Highlights of the 10-month financial statement include customer deposit of over ₦103BN, gross earning of ₦13.1 billion, net interest margin of 67%, non-performing loan ratio of 0%.
The performance was driven largely by strong synergy in customer acquisition and branch expansion, a deliberate focus on growth in demand deposits, creation of quality risk assets and balance sheet efficiency. These achievements were further supported by robust operational processes powered by sound technology and systems, management depth and expertise, experience and strategic oversight provided by the Bank’s Board.
Speaking on the performance, the Managing Director, Ade Buraimo, described the result as a significant validation of the Bank’s vision, business model and execution capacity.
“This is more than a financial milestone; it is a strong statement of what is possible when vision, discipline, sound execution, and market opportunity come together. From inception, Alpha Morgan Bank was built to be a commercial bank that is solution-driven and committed to delivering value at scale. To record a PBT of N1.9 billion in our first 10 months of operations is both historic and deeply encouraging. It reflects the dedication of our people, the trust of our customers and the solid foundation we have laid for long-term growth.”
About Alpha Morgan Bank
Alpha Morgan Bank is a customer-centric, innovative, and solutions-driven commercial bank, with a clear commitment to delivering “Satisfying Banking.”
Alpha Morgan Bank commenced operations in March 2025 with the rare distinction of regulatory approval for 14 branches across the country. This early footprint, combined with disciplined market execution, has enabled the Bank to build momentum across key business segments in record time.
Alpha Morgan Bank focuses on:
Human-Centred Technology: Digital tools designed for intuitive, everyday relevance and not vanity metrics.
Transparent Operations: From pricing to service promises, every process is clear, accountable, and customer friendly.
Customer-Centric Innovation: Continuously developing solutions and services driven by customer insights to deliver meaningful value and enhance satisfaction.
More than a financial institution, Alpha Morgan Bank positions itself as a partner in progress. Its vision is to drive possibilities, enable dreams, and reemphasize what it means to experience Satisfying Banking in Nigeria.