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€150m probe: Detectives comb Obasanjo Library
…Anti-graft agency probing $140m given to official
Operatives of the Economic and Financial Crimes Commission (EFCC) have visited the Olusegun Obasanjo Presidential Library (OOPL) in Abeokuta, Ogun State, as part of the probe of ex-Vice-President Atiku Abubakar’s son-in-law and the 150 million euros cash-for-poll bribe scandal.
It was learnt that the investigators went to the Library on August 8 to authenticate the claims by one of those under probe that he gave $140,000 (about N50 million) to a library official.
Sources said the EFCC officials, accompanied by policemen, combed some offices at the expansive ex-President’s Library.
It could not be confirmed whether any document was taken away by the operatives, but nobody was arrested.
A source said: “Our operatives went to the library with some riot policemen in anticipation of a possible resistance. But there was none.
“We did our job lawfully without any inhibition. We are still investigating the case. We are screening some documents in our possession on the matter.”
The Olusegun Obasanjo Presidential Library was opened on March 4, 2017. It is a historic, tourist and academic centre established as a national archive for the preservation of documents and materials used by the President during his tenure between 1999 and 2007.
Atiku’s son-in-law Abdullahi Babalele is being investigated alongside others for allegedly laundering 150 million euros. The money is believed to have been spent to influence the 2019 election in which Atiku was the Peoples Democratic Party (PDP) candidate.
About 67, 950,000 euros was traced to ex-VP Atiku’s associate Mr Uyi Giwa-Osagie’s account, Babalele’s account, two slush firms and two Bureau de Change operators.
Of the 67.9m euros, Uyi’s account was credited with 26,050,00 million euros between January 9 and 28, 2019, it was learnt.
Babalele is expected to account for 41,900,000 euros.
Sources said of the cash credited to Babalele’s account, he gave about N50million ($140,000) to his childhood friend, Bashir Mohammed to deliver to an official at the Presidential Library in Abeokuta. The anti-graft agency is investigating why the money was taken to the Presidential Library.
Bashir has reportedly admitted that he delivered the cash to the Presidential Library.
Of the 67.9m euros, Uyi’s account was credited with 26,050,00 million euros between January 9 and 28, 2019, it was learnt.
Babalele is expected to account for 41,900,000 euros.
Sources said of the cash credited to Babalele’s account, he gave about N50million ($140,000) to his childhood friend, Bashir Mohammed to deliver to an official at the Presidential Library in Abeokuta. The anti-graft agency is investigating why the money was taken to the Presidential Library.
Bashir has reportedly admitted that he delivered the cash to the Presidential Library.
A document obtained by our correspondent on the preliminary investigation reads: “That between 05/02/2018 and 27/11/2018 €41,900,000 (forty one million, nine hundred thousand euro) which sums are reasonably suspected to be proceeds of unlawful activities, was received by a firm linked to Babalele.
“That on February 20, 2019 Babalele called Bashir Mohammed his childhood friend and informed him that he will transfer N50million to him which should be converted to United States dollars.
“That Bashir converted the N50 million at the rate of 360 per dollar amounting to about $140,000
“That on the instruction of Babalele, Bashir took the money to Olusegun Obasanjo Presidential Library, and delivered it to an official in cash.
“That the cash delivered is in excess of the amount authorized by the Money Laundering Prohibition Act, 2011 as amended.
It was learnt that Bashir was taken by detectives to the Presidential Library.
Those interrogated including Babalele, Osagie and Mohammed, are on administrative bail pending the filing of a case against them.”
The EFCC gave details of how it foiled the alleged cash-for-poll laundering.
A report said: “On receipt of this intelligence, the team arrested two BDC operators, namely: Abdullahi Shehu who works with Abdullahi Munaciki of Hasbunallahu BDC, Abuja and Lawal A. Abdullahi of three Brother BDC. The team also recovered the said $1.6million but $141,000.00 had been exchanged to Naira at N358/ per dollar which amounted to N50, 500,000.00 while the balance of $1,459.000.00 USD could not easily be exchanged due to the naira scarcity in the market.
“Investigation conducted regarding the ownership as well as the source of the money so far revealed that Hasbunallahu BDC who is also the owner of Clean and Integrity Services Ltd received three transfers amounting to $5,000,000.00 on February 4 and 114, 2019, from Guernsey Trust Company Nigeria Limited which is an investment company that is being managed by one Uyiekpan Giwa-Osagie in trust on behalf of xxx.
”Investigation carried out on the accounts of Guernsey Trust Company Nig Ltd revealed that various transfers in millions of dollars and cash payments were made to various individuals and companies.”
Attempts by The Nation to speak to the ex-President failed last night.
Repeated calls to Chief Obasanjo’s spokesman Kehinde Akinyemi’s number did not go through.
Also SMS sent to Akinyemi’s phone number were not responded to.
The Nation.
Featured
NELFUND: The Renewed Hope Engine Propelling Nigeria’s Youth into Tomorrow
By Dayo Israel, National Youth Leader, APC
As the National Youth Leader of the All Progressives Congress, I have spent most of my tenure fighting for a Nigeria where every young person, regardless of their ward or local government, family income, or circumstance, can chase dreams without the chains of financial despair.
Today, that fight feels like victory, thanks to the Nigerian Education Loan Fund (NELFUND). Launched as a cornerstone of President Bola Ahmed Tinubu’s Renewed Hope Agenda, this initiative isn’t just a policy tweak; it’s a revolution. And under the steady, visionary hand of Managing Director Akintunde Sawyerr, NELFUND has transformed from a bold promise into a roaring engine of opportunity, disbursing over ₦116 billion to more than 396,000 students and shattering barriers for over a million applicants.
Let’s be clear: NELFUND was always destined to be a game-changer. Signed into law by President Tinubu on April 3, 2024, it repealed the outdated 2023 Student Loan Act, replacing it with a modern, inclusive framework that covers tuition, upkeep allowances, and even vocational training—ensuring no Nigerian youth is left on the sidelines of progress.
But what elevates it from groundbreaking to generational? Leadership. Enter Akintunde Sawyerr, the diplomat-turned-executioner whose career reads like a blueprint for results-driven governance. From co-founding the Agricultural Fresh Produce Growers and Exporters Association of Nigeria (AFGEAN) in 2012—backed by icons like former President Olusegun Obasanjo and Dr. Akinwumi Adesina—to steering global logistics at DHL across 21 countries, Sawyerr brings a rare alchemy: strategic foresight fused with unyielding accountability.
As NELFUND’s pioneer MD, he’s turned a fledgling fund into a finely tuned machine, processing over 1 million applications since May 2024 and disbursing ₦116 billion—₦61.33 billion in institutional fees and ₦46.35 billion in upkeep—to students in 231 tertiary institutions nationwide. That’s not bureaucracy; that’s brilliance.
Sawyerr’s touch is everywhere in NELFUND’s ascent. Since the portal’s launch, he’s overseen a digital ecosystem that’s as transparent as it is efficient—seamless verification, BVN-linked tracking, and real-time dashboards that have quashed misinformation and built trust. In just 18 months, the fund has empowered 396,252 students with interest-free loans, many first-generation learners who might otherwise have dropped out.
Sensitization drives in places like Ekiti and Ogun have spiked applications — 12,000 in a single day in one instance, while expansions to vocational centers in Enugu pilot the next wave of skills-based funding. And amid challenges like data mismatches and fee hikes, Sawyerr’s team has iterated relentlessly: aligning disbursements with academic calendars, resuming backlogged upkeep payments for over 3,600 students, and even probing institutional compliance to safeguard every kobo. This isn’t management; it’s mastery—a man who doesn’t just lead but launches futures.
Yet, none of this happens in a vacuum. President Tinubu’s alliance with trailblazers like Sawyerr is the secret sauce securing Nigeria’s tomorrow. The President’s Renewed Hope Agenda isn’t rhetoric; it’s resources—₦100 billion seed capital channeled into a system that prioritizes equity over elitism. Together, they’ve forged a partnership where vision meets velocity: Tinubu’s bold repeal of barriers meets Sawyerr’s boots-on-the-ground execution, turning abstract policy into tangible triumphs. It’s a synergy that’s non-discriminatory by design—Christians, Muslims, every tribe and tongue united in access—fostering national cohesion through classrooms, not courtrooms.
As Sawyerr himself notes, this is “visionary leadership” in action, where the President’s political will ignites reforms that ripple across generations.
Why does this matter to us, Nigeria’s youth? Because NELFUND isn’t handing out handouts—it’s handing out horizons. In a country where 53% of us grapple with unemployment, these loans aren’t just funds; they’re fuel for innovation, entrepreneurship, and endurance.
Picture it: A first-generation polytechnic student in Maiduguri, once sidelined by fees, now graduates debt-free (repayments start two years post-NYSC, employer-deducted for ease) and launches a tech startup. Or a vocational trainee in Enugu, equipped with skills funding, revolutionizing local agriculture. This is quality education that endures—not fleeting certificates, but lifelong launchpads. Sawyerr’s focus on human-centered design ensures loans cover not just books, but bread—upkeep stipends of ₦20,000 monthly keeping hunger at bay so minds can soar. Under his watch, NELFUND has debunked doubts, refuted fraud claims, and delivered results that scream sustainability: Over ₦99.5 billion to 510,000 students by September, with 228 institutions on board.
As youth leaders, we see NELFUND for what it is: A covenant with our future. President Tinubu and MD Sawyerr aren’t just allies; they’re architects of an educated, empowered Nigeria—one where poverty’s grip loosens with every approved application, and innovation blooms from every funded desk. This isn’t charity; it’s an investment in the 70 million of us who will lead tomorrow.
We’ve crossed one million applications not because of luck, but leadership—a duo that’s turning “access denied” into “future unlocked.”
To President Tinubu: Thank you for daring to dream big and backing it with action.
To Akintunde Sawyerr: You’re the executor we needed, proving that one steady hand can steady a nation.
And to every Nigerian youth: Apply. Graduate. Conquer.
Because with NELFUND, your generation isn’t just surviving—it’s thriving, enduring, and eternal.
The Renewed Hope isn’t a slogan; it’s our story, now written in scholarships and success. Let’s keep turning the page.
Dayo Israel is the National Youth Leader of the All Progressives Congress (APC).
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