Monday, April 20, 2026
26.1 C
Lagos

Business

Guinness Nigeria: N1tn Market Capitalisation Signals Strong Investor Confidence, Sustained Value Creation

Guinness Nigeria Plc has achieved a landmark milestone, surpassing...

Nationwide Voting Platform Empowers Consumers to Rate Brands, Public Institutions Based on Real Value, Trust, Service Delivery

  https://consumervalue.vercel.app/nominate In a bold step to deepen consumer voice and...

BOOK REVIEW: Personal Cost Control Strategies

  Author: Festus Abiodun Adebisi Publisher: Maximax Inc. Reviewer: Goke Ilesanmi Many people...

The Swift Ascendant Lands in Abuja: Martell’s Monumental Journey of Audacity Reaches the FCT

After kicking off in Lagos, Martell’s nationwide campaign, Martell...

PR Industry Leaders Hail Adejumoh’s Book, Advocate Strategic Shift in Practice

L-R: Chief Yomi Badejo-Okusanya (YBO), Chairman, Board of the...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

NGX Group Commends Happy Woman Digital Platform Initiative, Seeks Partnership

Being text of the speech by Alhaji (Dr.) Umaru...

Nigeria’s Reforms Driving Strong Domestic Capital Mobilisation, Says NGX Group CEO

The Group Managing Director/Chief Executive Officer of Nigerian Exchange...

NGX Group, IFC, CSCS, WIMBIZ Convene Leaders to Advance Gender Equality at 2026 Ring the Bell Ceremony

Nigerian Exchange Group Plc (NGX Group), in collaboration with...

Insurance

NIA to Honour Past Governing Council Members

The Nigerian Insurers Association (NIA) is pleased to announce...

Nigeria Hosts 1st ECOWAS Brown Card Zonal Meeting 2026 in Lagos

‎The Commissioner for Insurance, National Insurance Commission, Mr. Olusegun...

Heirs Insurance Group, United Capital Partner on Self-Care, Wealth Event for Ambitious Women

Heirs Insurance Group, Nigeria’s fastest-growing insurance group, and United...

NAICOM Pledges Commitment to Labour Standards, Staff Welfare

The National Insurance Commission (NAICOM) reaffirms its strong commitment...

Business

Guinness Nigeria: N1tn Market Capitalisation Signals Strong Investor Confidence, Sustained Value Creation

Guinness Nigeria Plc has achieved a landmark milestone, surpassing...

Nationwide Voting Platform Empowers Consumers to Rate Brands, Public Institutions Based on Real Value, Trust, Service Delivery

  https://consumervalue.vercel.app/nominate In a bold step to deepen consumer voice and...

BOOK REVIEW: Personal Cost Control Strategies

  Author: Festus Abiodun Adebisi Publisher: Maximax Inc. Reviewer: Goke Ilesanmi Many people...

The Swift Ascendant Lands in Abuja: Martell’s Monumental Journey of Audacity Reaches the FCT

After kicking off in Lagos, Martell’s nationwide campaign, Martell...

PR Industry Leaders Hail Adejumoh’s Book, Advocate Strategic Shift in Practice

L-R: Chief Yomi Badejo-Okusanya (YBO), Chairman, Board of the...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

NGX Group Commends Happy Woman Digital Platform Initiative, Seeks Partnership

Being text of the speech by Alhaji (Dr.) Umaru...

Nigeria’s Reforms Driving Strong Domestic Capital Mobilisation, Says NGX Group CEO

The Group Managing Director/Chief Executive Officer of Nigerian Exchange...

NGX Group, IFC, CSCS, WIMBIZ Convene Leaders to Advance Gender Equality at 2026 Ring the Bell Ceremony

Nigerian Exchange Group Plc (NGX Group), in collaboration with...

Insurance

NIA to Honour Past Governing Council Members

The Nigerian Insurers Association (NIA) is pleased to announce...

Nigeria Hosts 1st ECOWAS Brown Card Zonal Meeting 2026 in Lagos

‎The Commissioner for Insurance, National Insurance Commission, Mr. Olusegun...

Heirs Insurance Group, United Capital Partner on Self-Care, Wealth Event for Ambitious Women

Heirs Insurance Group, Nigeria’s fastest-growing insurance group, and United...

NAICOM Pledges Commitment to Labour Standards, Staff Welfare

The National Insurance Commission (NAICOM) reaffirms its strong commitment...

How Nigerian Politics Rivals Nollywood for Drama

In our series of letters from African journalists, novelist and writer, Adaobi Tricia Nwaubani looks at why Nigerians are hoping to be entertained by a crackdown on corruption. Two major industries in Nigeria share similar elements of melodrama and wildly implausible plots -films and politics.

Films produced by Nollywood, Nigeria’s version of Hollywood, have uncomplicated titles and themes that tell all you need to know, such as Love Me or I Die, Festival of Blood and Mother-inlaw Attack. But if you want thrill and suspense or intrigue, the place to turn to is the equally lucrative political industry.

In January 2012, for example, the Nigerian National Assembly set the stage for a new blockbuster that kept viewers riveted for months.
Nigerians had never before heard anything as brazen. Between 2009 and 2011, we were told, a number of local oil and gas companies had
obtained government subsidies totalling $6.8 billion (£4.3bn) for fuel they never delivered.

Daily on live television, the investigating committee headed by MP Farouk Lawan did more than expose the scam. The committee named names. At the conclusion of the proceedings, Mr. Lawan received an ovation from his fellow legislators for such excellent and thorough work.

“The late Obafemi Awolowo, a statesman who played a key role in Nigeria’s independence movement, once described government in the West African state as a ‘few holding the cow for the strongest and most cunning to milk’” Enter billionaire oil magnate, Femi Otedola. His two companies had been named by the committee.

Publicly, Mr. Otedola denied the allegations. He accused Mr. Lawan of having included the names of his companies on the list solely for the
purpose of soliciting a bribe from him – alleging the MP would have erased the names from the list once he received payment.

The price for such consideration on Mr Lawan’s behalf? $3m. Mr Otedola revealed that he had already paid about $500,000 of the total bribe demanded. He had also, he said, videotaped the entire transaction secretly.

Nollywood 2.0 In one alleged scene described by Reuters news agency, Mr Lawan, dressed in a traditional long “agbada” shirt and cap, is seated beside Mr Otedola, sorting through a huge pile of dollar bills. Afterwards, he fills his pockets until they overflow, and then stuffs the rest of the money into his cap.

It all seemed very Nollywood 2.0. Mr Lawan was then charged in court with soliciting from the oil tycoon. He denied the charges and calmly maintained the same righteous poise. “I believe in the end,” he said, “Nigerians will come to believe and see that for the 13 years I have
invested in championing good governance, responsibility and probity in this country, that this last trial is a trial from God, and I believe in the end we shall prevail.”

He did – completing his tenure in the House in June 2015. The issue soon vanished into the Bermuda Triangle of Nigeria’s many highly publicised corruption scandals.

Nollywood films are a big hit in many African countries
Mr. Otedola is still supplying fuel and the alleged $500,000 paid to Mr. Lawan has also not been retrieved. So Nigerians still do not know
whether Mr. Otedola was guilty of fuel subsidy scamming or if he was the victim of extortion. Perhaps, this shall be revealed in a Part Two.

This is just a snippet of corruption in Nigeria. During her tenure as US Secretary of State, Hillary Clinton, in a report on global human rights in Nigeria presented to the US Congress, expressed utter astonishment at the depth and breadth of corruption in Africa’s main oil producer.

She described the three tiers of the Nigerian government as riddled with “massive, widespread and pervasive corruption”. The late Nigerian Obafemi Awolowo, a statesman who played a key role in Nigeria’s independence movement, once described government in the West African state as a “few holding the cow for the strongest and most cunning to milk”.

Femi Otedola is a wealthy oil dealer and denied the allegations made by Farouk Lawan
Many Nigerians, and concerned observers around the world, have now placed their hopes for an end to all these shenanigans on Muhammadu Buhari, Nigeria’s new president.

They insist that his reputation as a disciplinarian and his austere lifestyle will do the trick. They believe that his historic election in March marks the beginning of a revolution that will sweep corruption away from Nigeria.

The media has already begun tantalising viewers with teasers with headlines such as “Buhari to Revisit $182m Halliburton Bribery Case”, “Buhari Vows to Probe ‘Missing’ NNPC $20bn” and “Buhari Tracks Stolen Funds to US, UK, Switzerland”.

If indeed President Buhari goes ahead to conduct these investigations, the country may very well be on the verge of cementing its star on the walkway of global entertainment. Nigerians at home and abroad can hardly wait for the cameras to begin to roll.

Hot this week

Guinness Nigeria: N1tn Market Capitalisation Signals Strong Investor Confidence, Sustained Value Creation

Guinness Nigeria Plc has achieved a landmark milestone, surpassing...

Stanbic IBTC Asset Management Bags Top Asset Management Award 2026 by Global Banking & Finance Review

In a noteworthy achievement in Nigeria's asset management landscape,...

Tinubu Assents to N68.32tn Appropriation Bill, 2025 Budget Extension

President Bola Ahmed Tinubu has assented to the 2026...

Nationwide Voting Platform Empowers Consumers to Rate Brands, Public Institutions Based on Real Value, Trust, Service Delivery

  https://consumervalue.vercel.app/nominate In a bold step to deepen consumer voice and...

PenOp Appoints Anthonia Okoro as Chief Executive Officer

Pension Fund Operators Association of Nigeria is pleased to...

Topics

NCC Lament Nigeria’s NRI Ranking Despite Telecom, Internet Position in Africa

Professor Umar Danbatta, Executive Vice-Chairman/CEO, Nigerian Communications Commission (NCC)...

The 5 Outcomes of the Work Culture Shift

By Elvis Eromosele Anxiety about the future of work had...

NCC, NAICOM, LASG, Experts Identify Importance of Media in National Development, Seek Adoption of AI

L-R: Maureen Chigbo, President, Guild of Corporate Online Publishers...

Stanbic IBTC Bank PMI: Output Growth Accelerates to Fastest in a Year

February data pointed to improved growth momentum in the...

Stanbic IBTC: Most Outstanding Bank Supporting Women-Owned Businesses

Stanbic IBTC Bank Limited, a subsidiary of Stanbic IBTC...

Linkage Assurance MD, Daniel Braie Among Top 25 CEOs on NSE

Mr. Daniel Braie, Managing Director and Chief Executive Officer...

Lagos-Calabar Coastal Highway: A Catalyst for Nigeria’s Blue Economy

By Moses Braimah The Lagos-Calabar Coastal Highway represents an economic...

Stakeholders Endorse Ecobank Stewardship Pack, School Bundle

Stakeholders in faith-based organisations and education sector have endorsed...
Exit mobile version