General News
Exclusive: Documents Show How Suspended CBN Governor, Emefiele Used Company Registered Under Wife’s Name To Launder Public Funds, Receives Double Salaries And Used Brother’s Insurance Company in CBN
Secret Reporters
Incriminating documents exclusively obtained by SecretReporters have shown that the embattled Godwin Emefiele was involved in high level of corruption, nepotism, favoritism and gross abuse of office while he reigned supreme as the Governor of the Central Bank of Nigeria.
Investigations by this online media revealed that Emefiele laundered money through a company registered in the name of his wife and other members of his family.
According to our findings, the company, Maggo Farms Limited was registered on October 18th 2018, with RC number 1533205 and address as 33, Ikorodu crescent, Dolphin Estate, Lagos State.
Those listed as directors and shareholders are; Magaret Emefiele Dunbiri, Ucheonye Anthony Mary, Godwin Emefiele Pammichukwu Junior and Andrew Emefiele Andres Olisehike.
SecretReporters gathered that even though the suspended CBN Governor’s wife claimed to have registered the Maggo Farms Limited in 2018, she actually registered the company on 19th May 2014, few months after the husband was named the substantive CBN Governor with the name, Maggo Farms.
Our findings revealed that instead of using her name, she fraudulently used one Oriekose Augustine as the director. She added another director with the same name but twisted it this time as Oriekose Oriekose Augustine as the second director.
Ironically, the Maggo Farms has same 33, Ikorodu crescent, Dolphin Estate, Lagos State as its registered address in CAC with RC number 2301316. Meanwhile, in Maggo Farms Limited website (www.maggofarms.com), the about us section agreed that “Maggo farms had been in existence since the February 2015”, thus confirming that the one bearing Augustine as director is owned by the Emefiele family.
Investigations revealed that this same Maggo Farms which is a business name with the Emefieles as beneficial owners is what they consistently used to collect the CBN Anchor borrowers fund. The account used in accessing the funds is 1014400833 with Zenith Bank. The phone number attached to the bank statement to receive alerts is 08179564031. This number incidentally is registered to Mrs. Margaret Emefiele.
Similarly, documents revealed that on 5th October 2021, the embattled CBN Governor’s wife secretly registered a company in the United Kingdom, which is not included in CCB asset declaration form.
The company named Coats Investment Group Limited has her and two others namely, Albert Kwabena Williams and Dan Wangi as directors. It has company number 13662708 and registered address as Flat 3, Dexter Court, Diary close, London, SW6 4HA, England.
SecretReporters also unearthed how the governor exercised impunity by collecting double money for himself and his wife from CBN. On November 11, 2020, Godwin Emefiele was paid the sum of N16,181,850 from CBN account into his Zenith Bank account number 2020000064. It was titled ‘Board holiday pay for self to USA’. On the same day, another N16,181.850 was paid into the same Zenith Bank account belonging to Godwin Emefiele but this time, titled as ‘Board holiday for spouse to USA’.
In another incriminating document, this online medium discovered that despite collecting salaries from CBN, Emefiele received payments from the Nigerian Security Printing and Minting. One of such payments was made on 15th December 2020 to the tune of N9,988,000.
More so, SecretReporters gathered that Emefiele entrenched NEM Insurance where his younger brother, George Augustine Emefiele is DGM (Marketing) as the major insurance company in CBN/NSPM.
Some of the payments made to the insurance company under Emefiele’s instruction are; on 5th March 2020, the CBN under Emefiele paid NEM Insurance N31,496,300. On the same day, Emefiele ordered another payment of N135,628,125 from CBN account into NEM Insurance.
NSPM on 3rd February 2020 also paid the insurance company N11,340,355. On 31st December 2020, NSPM also paid N31,479,123 while CBN on 10th November 2020 paid N17,938,375 to the company.
General News
Army Builds Schools, Town Halls as Questions Grow Over Nigeria’s Deepening Security Crisis
Secrets Reporters
As Nigeria continues to battle kidnappings, banditry, insurgency and violent attacks across several states, the Nigerian Army has shifted part of its public engagement toward community development, unveiling schools, town halls, boreholes and other infrastructure under its Civil-Military Cooperation (CIMIC) programme.
The Army says it has now completed more than 250 intervention projects nationwide, including schools, hospitals, roads, ICT centres, solar-powered facilities and water projects. The announcement came during the 163rd Nigerian Army Day Celebration (NADCEL 2026) in Rivers State, where Chief of Army Staff, Lieutenant General Waidi Shaibu, commissioned four new projects across the state’s three senatorial districts.
According to SecretsReporters‘ analysis, the Army’s expanding role in providing public infrastructure reflects a significant evolution in its relationship with civilians. While such interventions may improve public goodwill, they also expose a difficult reality: many communities are celebrating projects that ordinarily fall within the constitutional responsibilities of local, state and federal government institutions.
SecretsReporters further observes that although schools, boreholes and community halls can improve the lives of residents, they cannot replace the primary expectation Nigerians have of the military protecting lives, securing communities and restoring confidence in areas where criminal violence has become routine. Across many parts of the country, citizens continue to measure security agencies not by the number of projects commissioned but by whether they can travel safely, farm without fear and sleep without the threat of attacks.
The four projects commissioned in Rivers include the renovation of Community Secondary School, Obio/Akpor, Community Secondary School in Lueku, Khana Local Government Area, the reconstruction of a Community Town Hall in Oyigbo Local Government Area and the installation of a solar-powered borehole in Degema Local Government Area.
Speaking during the commissioning, Lieutenant General Shaibu said the projects demonstrate the Army’s commitment to complementing military operations with initiatives that directly improve the lives of citizens. He argued that lasting national security cannot be achieved through military action alone and described the Army’s Civil-Military Cooperation programme as a strategic platform for building confidence between soldiers and host communities.
The Army Chief disclosed that more than 250 intervention projects have now been completed across Nigeria, covering hospitals, classroom blocks, roads, ICT centers, solar lighting systems and water supply facilities. He urged benefiting communities to protect the projects and acknowledged President Bola Ahmed Tinubu for supporting the Army’s operational activities.
Earlier, the Chief of Civil-Military Affairs, Major General Musa Etsu-Ndagi, said the Rivers projects were deliberately distributed across the state’s three senatorial districts to ensure wider community impact.
Chairman of Obio/Akpor Local Government Area, Honourable Gift Worlu, welcomed the intervention, describing the renovated schools as a boost to education within the council.
For SecretsReporters, however, the larger issue extends beyond the ribbon-cutting ceremony. The growing visibility of military-led community projects raises broader questions about governance, institutional boundaries and public accountability. While civil-military cooperation is recognized globally as a tool for strengthening trust between armed forces and civilians, it is not designed to substitute for effective governance or diminish the military’s constitutional responsibility to defend the country.
The latest intervention also comes at a time when security remains one of Nigeria’s most pressing national concerns. In several parts of the country, communities continue to experience attacks by armed groups, while thousands of citizens have been displaced and economic activities disrupted by persistent insecurity.
General News
Emem Usoro Scandal: Journalist Stanley Ugagbe Remanded in Kuje Prison Over Cybercrime Charges
Secrets Reporters
Journalist Stanley Ugagbe has been remanded at the Kuje Correctional Centre by the Federal High Court in Abuja following his arraignment on a six-count charge filed by the Inspector-General of Police over publications concerning the Deputy Governor of the Central Bank of Nigeria (CBN), Emem Usoro.
Ugagbe was arraigned before Justice Salim Olasupo Ibrahim on Monday morning, where the charges were read to him. Following the proceedings, the court ordered that he be remanded in the Kuje Correctional Centre and adjourned the case until September 21st for trial.
The development marks the latest chapter in a case that has drawn attention from journalists and press freedom advocates nationally and internationally following Ugagbe’s arrest and detention by the Nigeria Police Force.
The charges stem from criminal proceedings instituted by the Inspector-General of Police before the Federal High Court in Abuja, accusing Ugagbe and Fejiro Oliver of conspiracy, cyberstalking and defamation arising from a series of reports titled “Exclusive: CBN Deputy Governor Emem Nnana Usoro Hides N1.4 Billion California Luxury Condo in Asset Declaration Scandal – Part 1”; “EXCLUSIVE: CBN Deputy Governor Emem Usoro Linked to N3.6bn Los Angeles Property Amid Questions Over Asset Declaration Compliance (Part 2)” published on SecretsReporters.
According to the charge sheet, the prosecution alleged that the defendants conspired to commit cyberstalking contrary to the Cybercrimes (Prohibition, Prevention, etc.) Act, 2015 (as amended in 2024). The police further accused Ugagbe of publishing stories alleging that the CBN deputy governor concealed a luxury property in California in her asset declaration, was linked to a multi-billion naira property in Los Angeles, and published another report concerning her personal life. The prosecution contended that the publications were false and constituted cyberstalking and defamation under the Cybercrimes Act and the Penal Code.
With the court now ordering his remand at the Kuje Correctional Centre, Ugagbe will remain in custody pending the next hearing, which has been fixed for September. The court is expected to consider issues relating to his bail and continue proceedings on the substantive charges at the adjourned date.
Recall that Ugagbe’s ordeal began on July 1, 2026, when armed men reportedly abducted him on his way home from work. The operatives confiscated his mobile phones and laptop before taking him away in an unmarked vehicle. For several days, neither his family nor his employer knew his whereabouts.
His disappearance sparked widespread condemnation from media organizations, including the Nigeria Union of Journalists (NUJ), which demanded that security agencies disclose his whereabouts, grant him access to his family and legal representatives, and either charge him before a competent court or release him.
International organizations also reacted. The Committee to Protect Journalists (CPJ) called on Nigerian authorities to investigate his disappearance and ensure his immediate safety, while the International Press Institute (IPI Nigeria) intervened in efforts that eventually led to his release from police custody.
Following his release on July 6, Ugagbe was granted bail while police reportedly continued investigating allegations, including espionage, cyberstalking, and other computer-related offences.
General News
ICPC Probes News Agency of Nigeria Over Alleged Recruitment Irregularities After Secrets Reporters Expose
SecretsReporters
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has commenced an investigation into alleged recruitment irregularities at the News Agency of Nigeria (NAN), seeking records relating to the agency’s employment and staff regularisation exercises conducted between 2024 and 2026.
The development comes days after SecretsReporters publication, titled “Alleged Sexual Harassment, Recruitment Controversy Rock News Agency of Nigeria as Female Employee Questions Grade Level Placement”.
The anti-corruption agency has formally requested a comprehensive range of recruitment and personnel records from NAN as part of an ongoing investigation into possible violations of the Corrupt Practices and Other Related Offences Act, 2000.
In a letter dated July 6, 2026, and addressed to the Managing Director/Chief Executive Officer of NAN, the ICPC directed the agency to produce the requested documents and designate a competent officer to appear before investigators at the Commission’s headquarters in Abuja.
The letter, signed by the Director of Operations on behalf of the Chairman of the ICPC, stated that the request was made pursuant to Section 38 of the Corrupt Practices and Other Related Offences Act, 2000, which empowers the Commission to obtain documents and information required for the purpose of investigations.
According to the letter, investigators requested all records relating to NAN’s recruitment and staff regularisation exercises between 2024 and 2026.
The Commission specifically requested recruitment advertisements, eligibility and selection criteria, lists of shortlisted applicants, names of successful candidates, and minutes of meetings of committees involved in the recruitment process.
The ICPC also requested the personnel file of Ogunola Folashade Adunni, together with any additional information that could assist investigators in determining whether due process was followed during the recruitment exercise.
Part of the letter reads: “This Commission is investigating an alleged violation of the Corrupt Practices and Other Related Offences Act, 2000 and it has become necessary to obtain certain documents/information from your office.”
It further directed NAN to ensure that a competent officer appeared before investigators with all relevant recruitment and personnel records requested by the Commission.
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