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Petitions to EFCC, SSS accuse Chinese expatriates of colluding with bank manager to steal N17 billion from two Nigerian ceramic companies

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Zenith Bank Plc and its Lokoja Branch Manager, Salawu Nasiru, together with two Chinese citizens, Liu Yangxi and Ma Zhuang, have conspired to defraud two Nigerian ceramic companies and their directors.

Messrs Salawu, Liu and Ma were accused of fraudulently obtaining about N17 billion in credits on behalf of BN Ceramic Industry Limited and NB Ceramic Limited, and Zhang Qide, a director and shareholder in the ceramic firms.

The loans, secretly obtained without the knowledge of the Nigerian companies, were disbursed to Liu between November 4, 2021, and August 31, 2023.

Documents also indicated that Mr Salawu, the Zenith Bank branch manager in Lokoja, received over N100,000,000 as kickbacks for ‘facilitating’ the N17bn loan dubiously obtained by Mr Liu and his accomplices.

Mr Liu, like Zhang Qide, holds positions as a shareholder and director at the ceramic firm, and Messrs Ma and Liu have family ties.

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The predicament of the Nigerian ceramic company and its director, Mr Qide, began with Mr Liu, without proper consultation or approval from the management, directors, and shareholders of BN Ceramic Ltd orchestrated, with the assistance of Messrs Ma and Salawu, the acquisition of a N3 billion loan from Zenith Bank, findings showed.

“Liu, in collaboration with Ma and Salawu, falsified Zhang Qide’s signature on the loan documents, including the offer of credit facility and the approving board resolution. Additionally, Mr Liu engaged in criminal conduct by falsely presenting himself as the managing director of both BN Ceramic Industry Limited and NB Ceramic Limited.

He proceeded to pledge/charge all fixed and floating assets of the BN Ceramic Industry Limited and NB Ceramics Limited, including its machinery and equipment, as collateral for the loan, without proper authorisation from the respective boards and shareholders of both companies.

Upon the approval and disbursement of the N3 billion loan into NB Ceramic Limited’s account, Liu paid N69,900,000 as kickbacks to Mr Salawu and also cleared the bank fees. Thereafter, without obtaining necessary consent or adhering to the company’s approved procedures, Mr Liu immediately transferred the remaining N2.68 billion balance to the companies he controlled. One of the companies, Wetech Industry Ltd got N300 million. The second company, Pure Biotech Company Limited, got N701 million, while the third company, CBC Oil & Gas Services Ltd, received N1.67 billion. After the accounts of the three companies were credited, Liu quickly laundered the funds into Chinese Yuan and transferred them to his personal account in China, all without informing or gaining approval from the board,” a staff of NB Ceramic Limited, who craved anonymity, said.

The staff further noted that “Mr Liu collaborated with a member of his criminal group to establish a shell company named Wetech Industry Limited. In this arrangement, Liu and Lu Hao, represented by Bello Musa as a front, held 45% and 55% of the shell company’s shares, respectively. “Custom Clearance and Inland Transportation for the Second Lot of AKK Project” with BRENTEX CPP Ltd.

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Nigeria’s Inflation Rate Climbs to 15.38% in March

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By Yusuf Danjuma Yunusa

The National Bureau of Statistics (NBS) has reported a rise in Nigeria’s headline inflation rate, which increased to 15.38% in March 2026, up from 15.06% recorded in February.

According to the NBS’s latest Consumer Price Index (CPI) report released on Wednesday, the 0.32 percentage point increase marks the second consecutive monthly rise in inflation this year. The March figure also represents a significant jump compared to the same period last year, underscoring persistent price pressures across key sectors.

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Analysts point to rising food and energy costs, coupled with lingering supply chain disruptions, as primary drivers of the uptick. The NBS noted that food inflation remained elevated due to higher prices of staple items such as bread, cereals, and vegetables, while core inflation excluding volatile agricultural produce and energy also edged upward.

The development puts additional pressure on households and businesses, and may influence the Central Bank of Nigeria’s monetary policy stance in the coming months.

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Atiku Confirms 2027 Will Be His Final Presidential Bid

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By Yusuf Danjuma Yunusa

Former Vice-President Atiku Abubakar has declared that the 2027 general election will be his last attempt to become Nigeria’s president.

The seasoned politician, who will turn 80 by the next election cycle, made the announcement during an interview on Arise News on Wednesday.

“Certainly yes, because the stakes are higher – I believe that will be my last outing. So that’s incontrovertible,” Atiku said when asked whether 2027 would mark his final run.

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Pressed on why Nigerians should still trust him after decades in politics, the presidential hopeful argued that his experience uniquely qualifies him to lead the country at a critical juncture.

“I represent both the past and the future simply because we have seen various levels of leadership in the country, both young and old, and we’re experiencing them,” he said.

Atiku also voiced concerns about the performance of younger leaders, suggesting they have not fully met expectations.

“I still believe that our expectations of the young leadership are below what we thought,” he added, stressing the need for mentorship and guidance from older, more experienced politicians.

According to Atiku, such guidance is most effective when exercised from a position of power. Reflecting on his time as vice-president, he noted: “Sometimes you need to be [in power]. What I was able to learn from President Olusegun Obasanjo through his experience, I couldn’t have learned it outside.”

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Kano Dep Governor’s seat: Concerned Elders make case for Kabiru Alhassan Rurum

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Kano South Concerned Elders Forum has appealed to Governor Abba Kabiru Yusuf to appoint Hon Kabiru Alhassan Rurum as the next Deputy Governor of the state.

According to them, his appointment would support the administration and correct the years of political lopsidedness in the leadership of the state.

Their appealed was sequel to the nomination of Rurum, alongside Engineer Rabiu Sulieman Bichi and Murtala Sule Garo by the legacy group of the state’s All Progressives Congress (APC) for the governors final selection for the vacant post.

In a statement signed on Wednesday by the Chairman of the Elders, Senator Masaud El- Jibril Doguwa, they affirmed that the nomination of Rirum , a former Speaker of the Kano State House of Assembly and a current member of the Nigeria’s House Representatives, represented a turning point in the political history of Kano -South.

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“For the first time in over 30 years, someone from the zone has come close to being nominated as the state Deputy Governor. All past efforts by other capable politicians from the zone to secure the post of the state governor has failed to materialize” they recalled.

The elders, which included Musa Salihu, Alhassan Kibya, Rabiu Bala, Yau Beza , Wai Ado and several others , lamented that the zone, which has 16 LGAs and is one of the largest Senatorial zones in Nigeria, has yearned for decades for an equitable representation at the highest levels of leadership in the state.

While appreciating the Governor for his strength of character, fairness, justice and sense of inclusiveness, they stressed that the choice of Rirum for the position would go a long way to strengthen the administration.

“He is a grass root politician, a team worker, and approachable with extensive network all over the state and beyond.. He shares the same values with the Governor on the delivery of democratic dividends to his constituency” they declared. End

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