As you are very much aware by now, the Department of State Services, DSS, on Jan. 7th 2015 released the so-called findings from its investigation following the Gestapo-like raids of our Data Centre here at Number 10, Ajibola Street, Ikeja, on Nov. 22nd 2014.
The summary of the 'findings' is that our party, the All Progressives Congress (APC), had an ''articulated plan to inflate the party's membership data as well as hack into INEC's voter registration database through the creation of party membership forms and cards to match INEC's voters register across the country''.
Our immediate response, which was issued on the same day and which got a big play, was to dismiss the 'findings' as hogwash, a great disservice to Nigeria and an embarrassment to all intelligence-gathering organizations around the world. Our stand on the 'findings' has not changed.
However, having taken our time to study the 'findings', we believe it is necessary for us to respond to the allegations in a more detailed manner that will show that we were even charitable to have described the report as hogwash. That DSS report is bunkum, garbage, and is not worth the paper on which it is written. We will demonstrate that to you shortly
But first, let us address the motive of the DSS for this report and the timing of its release.
We will like to tell all Nigerians that the crap called 'findings' is part of the ongoing efforts by the Jonathan Administration to postpone next month's general elections. Having seen the handwriting on the wall vis-a-vis the growing rejection of the PDP by Nigerians, the Jonathan Administration has gone into a panic mode, while embarking on a plan to postpone the elections.
Apparently, the thinking at the DSS, which is working in cahoots with the PDP, is that its report that the APC plans to hack into the voters' registration Data Base of the Independent National Electoral Commission (INEC) will raise doubts about the integrity of the voter's register to be used for the forthcoming polls, and subsequently force a postponement of the elections since the existing register cannot be used for the polls.
Unfortunately for DSS and the PDP, this thinking was based on a wrong premise, as we will show shortly, and it has backfired.
Before you say our claim is outlandish, remember that some prominent Nigerians have publicly called for the postponement of the election - which can only benefit the Jonathan Administration and delay its impending Waterloo at the polls. Place the calls side by side with the apparently doctored outcome of the DSS investigations and the timing of the report's release, and you will understand where they are coming from.
The 'findings'
We make bold to say that those 'findings' cannot stand a serious scrutiny by independent investigators.because the DSS worked backwards, from answer to question, in an effort to reach a pre-determined conclusion
Hacking of INEC’S database
The allegation that the APC planned to hack into INEC's voters' registration Data Base is false. The fact that the DSS made the allegation at all shows that the agency does not understand the concept of hacking, which is pathetic for a primary intelligence agency of its stature.
We are not aware that INEC has made a complaint of anyone or group trying to hack into its system. The DSS 'findings' are baseless as INEC'S database is a reflection of the registered members with the Permanent Voter's Cards (PVCs). Please note that at the time of the DSS' raids, the PVCs had already been printed. Therefore, of what value would it be to hack into the system and input more names?
Simply put, it is not possible for the APC to hack into the INEC Data Base for the following reasons:
▪ INEC’s database is not online, how then is it possible for anyone to hack into it?
▪ To prevent virus intrusion, there is no Internet service at the APC Data Centre that was raided. Therefore it is not possible to hack into INEC’s database.
▪ The DSS has claimed that hacking tutorials were discovered on an external hard drive. This is a lie! All the USB ports on the pc systems in the office were disabled to prevent virus intrusion. Therefore, the use of external hard drives is not allowed at the APC Data Centre. If this is so, how is it possible for an external hard drive containing these so-called hacking materials to be found on the premises of the APC Data Office?
Please note that the work stations at our various data registration centres in the country are manned by unemployed youths with just basic computer knowledge. The question to ask is: Would the party have employed these people if the intent were to hack into INEC's Data Base or employed gurus in the IT world?
It is clear that the DSS purchased a hard drive and downloaded the information themselves from the Internet. After all, the DSS, by virtue of its duties, should be the hacking experts, hence hacking tutorials will be part of their staff induction training.
Timing of the DSS raids
As we have said, the overall motive of the raid of our offices and the so-called findings is to give the impression that the INEC voter's register has been corrupted, hence cannot be used for next month's elections. Now, a more specific question: Why did the DSS break into the APC Data Centre at the time it did?
It is no coincidence that the DSS raided the APC Data Centre on Nov. 22nd 2014, exactly one week before the start of the PVC distribution exercise on Nov. 28th 2014.
The reason the DSS came to vandalize our Data Centre is because the Service is working hand-in-hand with the PDP. They carried out the raids to know our party's strength in terms of membership. Please note that after the raids, many of our registered members could not find their names on the list when they went to collect their PVCs. This is not a mere coincidence.
Alleged multiple registration of members
After the first visit of the DSS, it was clear to all Nigerians that the Service's claim that we were cloning PVCs could not be sustained. That explains why they could not display a single cloned PVC
During the second raid carried out by the DSS on the same APC Data Centre, the security personnel carted away bags with unused membership registration forms. These are the forms to which they have fraudulently attached pictures of babies & military personnel in order to implicate the APC.
Or what on earth was the purpose of the DSS carting away blank APC membership registration forms? Why did it take the DSS almost 50 days to reveal this information? If it were true, won’t they have released the information to the general public immediately? Has the DSS hired any renowned IT organization to attest to its 'findings'? Can you be an accuser and a judge at the same time?
Alleged registration of armed forces/paramilitary personnel
This is a no-brainer! The question to ask the DSS is: Will any member of the armed forces and paramilitary organizations be so daft as to join a political party using a passport photograph of himself or herself in uniform? The DSS must think Nigerians are fools.
Alleged registration of babies
To the best of our knowledge, a baby cannot vote? So, why would any organization register a baby as a member? Our application edits date of birth, hence will not allow the registration of under-aged persons. The DSS should tell the world where it got the pictures of babies that it affixed to the blank forms that were carted away from our Data Centre. We did not and could not have registered babies as members. This allegation is nitwitted, to say the least.
Alleged confessions by workers arrested from the data centre
Please recall that in a statement we issued of Dec. 5th 2014, we accused the DSS of resorting to the use of torture to obtain forced confessions from the workers who were arrested during the first raid on our party's Data Centre.
In that statement, we called the action of the DSS a contravention of the UN Convention against Torture to which Nigeria is a signatory and a violation of the citizens' fundamental human rights.
We also said:
- The DSS shackled the hands and legs of those arrested and blindfolded them while they were being taken to Abuja; The arrested persons remained in chains even at the dark detention cell where they were made to sleep on the bare floor for the 10 days they were detained illegally.
- The workers had guns pointed at their heads by DSS personnel who threatened to shoot them
- A pregnant woman among those who were arrested was denied access to her drugs even when she started bleeding due to the torture to which she was subjected by the DSS.
Gentlemen, we now present to you some of those who were arrested and tortured by the DSS, so they can narrate to you their ordeal in the hands of the DSS - A national institution being maintained by taxpayers' funds but which has now become the enforcement arm of the PDP to be used by the ruling party to terrorize innocent citizens.
The DSS said it had charged these workers to court. This is a lie. We were the ones who charged the DSS to court, and the court ordered the security agency to release the arrested workers. Be that as it may, we are expecting them to join us in court, and let the court decide on the crap they called findings. We are confident that the 'confessions' extracted from these people, after they were subjected to incredible acts of torture, cannot even stand in any court of law.
I thank you!
Alhaji Lai Mohammed
National Publicity Secretary
All Progressives Congress (APC)
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Tinubu Meets Bolloré in Paris Over Expanded Investment in Nigeria’s Creative, Digital Economy
President Bola Ahmed Tinubu has held talks with French businessman Vincent Bolloré in Paris on plans to expand investment in Nigeria’s creative and digital economy.
The meeting, held during the President’s working vacation, focused on opportunities to deepen the localisation of operations by the Bolloré Group and increase investment in sectors including film, entertainment, fibre-optic infrastructure and digital services, according to a statement issued by the presidency.
Bolloré and members of his executive team outlined proposed investments centred on Nigeria, highlighting the country’s growing influence in global entertainment through Nollywood and Afrobeats.
The group also expressed interest in expanding its operations and local presence in Nigeria, with the presidency saying the plans could support increased production, investment and employment opportunities in the country.
Tinubu reaffirmed his administration’s focus on economic growth, job creation and digitalisation, while welcoming the group’s reported plans to deepen its activities in Nigeria.
The President said the government would continue to support investments aimed at developing the creative and digital economy, strengthening infrastructure and creating opportunities for Nigerian talent.
According to the statement, Tinubu also emphasised the potential for Nigeria to serve as a base for companies seeking to operate across Africa and international markets.
The meeting comes as Nigeria continues to promote its entertainment and technology sectors as areas of economic opportunity, with the government seeking to attract investment while expanding employment opportunities for young Nigerians.
Tinubu said his administration’s Renewed Hope Agenda seeks to harness Nigeria’s talent, entrepreneurship and growing global cultural influence to create greater economic opportunities and improve livelihoods.
News
Banks Shut 476 Branches as Nigeria’s Banking Landscape Goes Digital
Nigeria’s banks are rapidly abandoning the traditional banking model, shutting down hundreds of branches and cash centres as customers increasingly move to digital and electronic channels.
Data from the Central Bank of Nigeria show that banks closed a net 476 branches and cash centres between 2022 and 2025, cutting the country’s physical banking network by 8.8 per cent in just three years.
The number of bank branches and cash centres plunged from 5,410 in 2022 to 4,934 in 2025, signalling a dramatic shift away from brick-and-mortar banking.
The contraction has gathered pace in recent years.
Banks closed 37 locations in 2023, followed by a much steeper reduction of 229 locations in 2024. Another 210 branches and cash centres disappeared in 2025.
In effect, more than nine out of every 10 locations lost during the three-year period were closed in 2024 and 2025.
The figures, contained in the CBN’s 2025 Statistical Bulletin for the Financial Sector, cover branches and cash centres operated by commercial, merchant and non-interest banks. The data were sourced from the CBN and the Nigeria Deposit Insurance Corporation.
Lagos bears the biggest hit Lagos, Nigeria’s financial powerhouse, recorded the largest decline.
The state had 1,602 bank branches and cash centres in 2022. That figure dropped to 1,532 in 2023, 1,521 in 2024 and just 1,444 in 2025.
That represents a loss of 158 locations, or nearly 10 per cent, in three years.
Despite the closures, Lagos remains overwhelmingly dominant, accounting for almost 29 per cent of all physical banking locations in Nigeria.
The Federal Capital Territory also suffered a significant contraction. Abuja went from 400 locations in 2022 to 362 in 2025, a decline of 38, or 9.5 per cent.
But some states experienced far more dramatic cuts.
Ekiti lost almost half of its banking locations, falling from 107 in 2022 to just 57 in 2025 — a staggering 46.7 per cent decline.
Enugu lost 44 locations, dropping from 162 to 118, while Oyo shed 41, falling from 237 to 196.
Other notable declines were recorded in Ondo, Plateau, Osun, Cross River and Rivers.
Northern banking centres also feel the squeeze
The contraction was not confined to the South.
Kano, for instance, initially expanded its banking footprint, rising from 164 locations in 2022 to 183 in 2024. But the reversal was sharp in 2025, when the figure crashed to 157.
Kaduna followed a similar pattern. Its locations climbed from 148 in 2022 to 164 in 2024 before falling back to 146 in 2025.
Yet not every state is losing branches.
Delta recorded the strongest expansion among the states highlighted, adding 23 locations and rising from 173 in 2022 to 196 in 2025.
Edo added 10, while Jigawa and Kogi gained six and five locations respectively.
A widening banking divide
The figures expose a striking disparity in access to physical banking infrastructure across Nigeria.
While Lagos had 1,444 branches and cash centres in 2025, Yobe had only 23, Taraba 26 and Zamfara 28.
Bayelsa and Gombe had 31 each, while Ebonyi had 32.
The imbalance underscores how heavily physical banking infrastructure remains concentrated in Nigeria’s major commercial and economic centres.
The bank branch may be losing its battle
The shrinking branch network comes despite the number of banks operating in Nigeria initially increasing.
The country had 32 banks in 2022, 33 in 2023 and 35 in 2024, before the figure slipped slightly to 34 in 2025.
That means the branch closures cannot simply be explained by a shrinking number of banks.
Instead, the figures point to a much bigger transformation: Nigerian banking is moving away from physical locations and towards digital platforms.
The CBN has itself been pushing greater adoption of alternative payment channels, particularly among farmers, traders, small businesses and informal-sector operators who may have limited access to conventional banking services.
Speaking at the 2026 CBN Fair in Lokoja, the Acting Director of Corporate Communications and Investor Relations, Hakama Sidi-Ali, stressed the importance of alternative payment channels in expanding financial access and stimulating economic activity.
The message from the numbers is even clearer.
The era of banking halls on every major street may be fading.
With hundreds of branches disappearing in just three years — and the pace of closures accelerating — Nigeria’s banking industry is betting increasingly on phones, apps, electronic payments and other digital channels rather than physical walls and counters.
For millions of Nigerians, the next bank branch may no longer be a building. It may be sitting in their hands.
Business
In The Spotlight
Dangote: OPM Made You 36th Globally—How Many Investors Will Become Billionaires?
Alhaji Aliko Dangote has done what very few Africans have ever done. He has built a business empire of extraordinary scale, crossed the $50 billion mark in personal wealth, and reportedly risen to the 36th position among the world’s 3,397 billionaires.
That is an achievement Nigerians can acknowledge. But today, I want to ask a different question. Alhaji Dangote, how many of the Nigerians who are now investing their hard-earned money in your businesses will you help turn into millionaires—and eventually billionaires? That, in my view, is the more important question. Because behind every great fortune is an army of people whose money, labour, patronage, trust and participation helped create that wealth. And that brings us to OPM—Other People’s Money.
Other People's Money Built More Than One Fortune
Let us be honest: no business empire is built by one person alone. Investors provide capital. Banks provide financing. Workers provide labour. Consumers provide revenue. Suppliers provide goods and services. Governments provide infrastructure and an operating environment. And ordinary Nigerians have been buying Dangote products for decades. Now, Nigerians are being invited to take another step—from being customers to becoming owners.
The public offering of shares in the Dangote Petroleum Refinery gives ordinary Nigerians an opportunity to put their money into one of the country's biggest industrial projects. That opportunity comes with risk, of course. Nobody should invest money they cannot afford to lose, and nobody should assume that buying shares automatically guarantees wealth.
But there is a bigger principle here.If Nigerians are going to put their money into Dangote's business, Nigerians should also have a meaningful opportunity to participate in the wealth that business creates.
Don't Take Nigerians for Granted
Alhaji Dangote, Nigerians have supported your businesses.They have bought your cement.They have bought your sugar. They have bought your flour. They have bought countless other products connected to your business empire.Nigerian workers have built factories, transported products, operated plants, sold products and provided services.
Now, ordinary Nigerians are being asked to invest directly. That creates a responsibility—not merely to shareholders, but to the broader Nigerian public.
Don't take Nigerians for granted. Treat the small investor with the same seriousness you would give the institutional investor. Give shareholders transparency. Give them accountability. Give them information. Give them confidence that their money is being managed responsibly. And when the business succeeds, shareholders should have the opportunity to benefit from that success.
Your Greatest Legacy Should Be Bigger Than Your Net Worth
There is nothing wrong with becoming extraordinarily wealthy by building successful businesses.But there comes a point when the conversation should move beyond “How much is Dangote worth?" The more interesting question becomes:How many people became wealthy because Dangote built these businesses?
Imagine the impact if hundreds of thousands of Nigerians who invest today eventually build substantial wealth from their investments. Imagine a young Nigerian who starts with a modest investment and, over decades, builds an investment portfolio capable of paying school fees, buying a home, funding a business or securing retirement. Imagine Nigerian families passing shares from one generation to another. That is how an ownership culture is created.And Nigeria desperately needs an ownership culture.
We Need More Than One Dangote
Nigeria does not simply need another Dangote. Nigeria needs 10,000 Dangotes in different industries.
We need Nigerians who build technology companies, manufacturing companies, agricultural businesses, energy companies, financial institutions, pharmaceutical companies and global brands.But we also need millions of Nigerians who can become shareholders in those businesses. A country becomes economically stronger when wealth creation spreads beyond a handful of extraordinarily wealthy individuals.
The refinery therefore presents an interesting test. Can a Nigerian industrial giant create not just a massive fortune for its founder, but also a new generation of Nigerian investors? Can ordinary Nigerians who put their money into the company eventually look back and say:I was there when it started, and I benefited from its growth”?
That would be a powerful story.
From Billionaire to Wealth Creator
Dangote has already demonstrated that he knows how to create enormous corporate value. The next challenge is different.Can he help create enormous shareholder value for ordinary Nigerians?That is where the conversation about his $51.3 billion fortune becomes relevant.
If one man's wealth can grow by tens of billions of dollars, Nigerians are entitled to ask whether the people who invest alongside him can also experience meaningful wealth creation. Not necessarily overnight.Not necessarily without risk. But over time.That is what investing is supposed to be about.
The Question Nigerians Should Keep Asking
So, Alhaji Dangote, congratulations on reaching another extraordinary milestone.But don't stop at building your own fortune. Build an ecosystem in which others can build theirs. Don't let Nigerians remain merely consumers of Dangote products. Make them owners. Don't let the story end with one Nigerian becoming one of the world's richest people. Let the next chapter be about thousands, perhaps millions, of Nigerians building meaningful wealth through ownership and investment. Because the real measure of an economic giant is not only how high the founder climbs. It is how many people rise because of the platform he created.
So here is the question Nigerians should be asking: Aliko Dangote, OPM has helped take you to the 36th richest person in the world. Now that Nigerians are putting their own money into your empire, how many of those investors will you help turn into millionaires—and, ultimately, billionaires? That is the legacy question.
By Emmanuel Emeke Asiwe (EEA) Publisher/Editor-in- Chief)
In The Spotlight
Mixed metaphors: Eating them young
On this page, I have praised former Minister Nasir el-Rufai for his work in the Federal Capital Territory.
As governor, I praised some of his work, including when he fired state teachers. I also criticised him when he became arrogant and presumptuous.
Powerful people tend to misjudge distance, in terms of how long they will remain powerful, as well as the depth of their relevance, measuring how power, once in the hands of others, can remain in their favour.
El-Rufai made both miscalculations. Following over two decades of untouchability in power from Olusegun Obasanjo to Muhammadu Buhari, he has now spent 200 days in pre-trial detention on ICPC and DSS charges.
This should not happen to a citizen, any citizen. But some citizens, when fate grants them the winning lottery ticket, become Cronus, the Titan in Greek mythology who, to maintain his power, swallowed five of his six children soon after birth.
But not Zeus, his youngest son, who miraculously survived and, becoming the supreme ruler of the Olympian gods and the “Father of Gods and Men, “would exact vengeance.
In power, el-Rufai forgot not only the principle of right and wrong, but also the concept of justice.
But it was right there the whole time: on the flip side of injustice. The truth is that wearing glasses to be able to see arms, nobody to see through clouds.
Last Tuesday’s disruption by political thugs of the visit to Benue State of Peter Obi, the presidential candidate of the Nigeria Democratic Congress, is an early reminder of the temptations of power in a Nigerian election year.
The ruling party controls the state, which is in the thick of Nigeria’s insecurity crisis. Its governor, Hyacinth Alia, is a Catholic priest. Having, in 2025, been involved in trying to prevent the same Obi from a humanitarian visit, claiming that his intervention was purely on security grounds, Mr Alia is trying to persuade the country that his are not the hands behind the crude attempt to stop, particularly Mr Obi, from travelling freely and safely in the state.
As Minister Festus Keyamo wisely said, this kind of menace is not a part of our democracy. Mr Alia, show the world your strengths, not your limitations.
Big news: the 2024 Auditor-General’s Non-Compliance report, published last month, identified over N1.34trn in audit lapses.
It found that the National Cash Transfer Office paid N33.751 billion to 3,295,207 households in 35 states in 2023 with no evidence that the money reached genuine beneficiaries.
The Office could not produce REMITA records to authenticate the payments. SERAP has written to President Tinubu demanding a published audit trail and investigation of the flagged N78.8bn in total irregularities.
Similarly, Femi Falana (SAN) has called on the EFCC to investigate and prosecute officials.
Given that we are dealing with a specific regime of governance coated in colours of ruthlessness, it is doubtful that these calls will yield anything.
The truth is that the situation is worse than what we know so far, and so, I have a different call: that Nigerians pay close attention to what is actually a long-running looting spree of our poorest and most vulnerable. There is a scorched-earth assault going on.
I begin in 2019, the start of the second term of the fake anti-corruption champion Muhammadu Buhari:
The Auditor-General’s 2019 report on the FGN Consolidated Financial Statements discovered that 36 MDAs made individual transfer payments,totalingN15,534,467,561.26, without identifying the beneficiaries, ignoring the relevant budget lines for “Transfers–Payment to Unemployed” and “Transfers–Payment to Aged/Vulnerable Group.” The Auditor-General flagged the risk of “diversion of public funds” and “misapplication of funds.”
The 2020 report is more curious. In the MDA-by-MDA budget-performance schedule, the National Social Investment Office shows: Approved Budget N0.00, Supplementary Budget N0.00, Total Budget N0.00, but the actual spending is N275,010,764,595.02! That is, the NSIO somehow recorded spending N275bn with no budgetary authorisation at all.
Surely, somebody has an explanation?
The 2021 Non-Compliance report, Volume II, found under the Ministry of Humanitarian Affairs that N54,630,000,000 in N-Power Batch C1 stipends (the August–December 2021 backlog) was recorded as paid but, per the Auditor-General’s own field visits, “was not actually effected to the beneficiaries.”
The same section found N2,617,090,786 paid for the National Home-Grown School Feeding Programme (COVID-19 period), the Auditor-General recommending full recovery to the Treasury: a combined N58.05bn flagged in that one ministry in that one year.
Surely, somebody has an explanation?
The 2022 Non-Compliance file is titled as Volumes I and II merged, but despite that filename, Volume II appears to be absent, as it excludes Humanitarian Affairs, NSIPA, NCTO or NASSCO, meaning that their work was either not audited at all, or that that specific audit has yet to be published.
Again, and similarly, despite examining the two volumes of the 2023 Non-Compliance report, neither the Ministry of Humanitarian Affairs, NSIPA, NCTO, NASSCO, N-Power, GEEP nor school feeding appears anywhere, although many other agencies were thoroughly audited.
Surely, somebody has an explanation?
That brings us to the 2024 itemised findings SERAP has publicized: N33.751bn in cash transfers with no beneficiary confirmation; N36.744bn paid in December 2023 without prepayment audit; N4.616bn in unsupported expenditure which the Auditor-General says “may have been diverted”; N350.18m in enrolment payments to state coordinators with no supporting documentation; N89.51m for store items never delivered or logged; N17.42m in diesel cash advances with no traceable purchases; and at NASSCO, N2.24bn paid through 158 vouchers without prepayment audit.
These appear to be the patterns that Nigerian MDAs exhibit in their work every year, with vulnerable Nigerians exploited every year.
But the first challenge is for journalists to track Humanitarian Affairs/NSIPA through every audit year to establish the full carnage.
There is another crisis: that despite all of this, a lot of MDAs still fail to submit audited accounts to the Auditor-General, representing one of Nigeria’s worst accountability challenges. This is a problem that worsened significantly under the Buhari administration despite his anti-corruption rhetoric. According to the Auditor-General, the 2016 audit year saw the highest number of non-submissions (324) in modern Nigerian history: more than double the previous 22-year high of 148. In 2016-2017 alone, 436 agencies failed to submit accounts. Think about that.
President Bola Tinubu is in the middle of a three-week foreign trip, departing without formally informing the National Assembly or handing over to Vice President Shettima, violating the constitution.
For a man who is seeking a second term of office, this is a stark reminder of how little the rules, or for that matter, Nigeria, really matter to Mr Tinubu. Keep in mind that when he headed north, Mr Shettima headed south, to Angola.
The general debate of the 81st United Nations General Assembly will begin on 22 September. Mr Tinubu is scheduled to speak the following morning.
At a time of chaos and doubt in his leadership, and in democracy under his watch, he will confront the theme: “Restoring trust, managing transformation: a United Nations that delivers for all.”
By Sonala Olumhense