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President Tinubu Appoints Ayo Sotinrin as Managing Director of the Bank of Agriculture

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President Bola Ahmed Tinubu has appointed Mr. Ayo Sotinrin as the new Managing Director of the Bank of Agriculture, effective immediately.

Mr. Sotinrin brings a diverse and extensive background in the private and public sectors to his new role.

Before his appointment, he held the position of Group Chief Executive Officer at SAO Group. His leadership at SAO Agro, an agribusiness company, was marked by groundbreaking agricultural initiatives, including developing a 20,000-hectare oil palm plantation and large-scale poultry, aquaculture, maize, and cassava operations in Ondo State.

He also led SAO Capital, raising over $750 million in infrastructure and development finance, including the landmark $200 million Akure Water Supply Project.

In the public sector, he served as Special Adviser (Environment & Urban Development) to the Minister of State FCT from 2011 to 2015.

He has consulted extensively for global development partners such as the World Bank, AfDB, DFID, and USAID and played key advisory roles on federal and state-level projects. His international background includes roles at the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency.

Mr. Sotinrin holds an Executive MBA from Said Business School, Oxford University; an Advanced Diploma in Environmental Conservation; and a Master’s in Engineering Business Management from Warwick University.

Mr Sotinrin’s appointment aligns with the Tinubu administration’s strategy to revitalise Nigeria’s agricultural sector.

“Mr Sotinrin’s proven ability to mobilise capital, innovate in agribusiness, and collaborate across sectors will be instrumental in repositioning the Bank of Agriculture as a catalyst for food security, sovereignty and rural prosperity”, President Tinubu emphasised.

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‎‎JUST IN: Former Power Minister Mamman Convicted of N33.8bn Fraud‎‎

Justice James Omotosho held that the Economic and Financial Crimes Commission (EFCC) proved its case beyond reasonable doubt, finding Mamman guilty of illegally diverting public funds linked to the Mambilla and Zungeru Hydroelectric Power projects.

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[File photo] : former Minister of Power, Saleh Mamman

A Federal High Court in Abuja has convicted former Minister of Power, Saleh Mamman, on a 12‑count charge of fraud and money laundering involving about ₦33.8 billion. ‎‎

Mamman, who served in the administration of former President Muhammadu Buhari, was found complicit in the illegal diversion of public funds totalling about ₦33.8 billion.

The court found that he made a cash payment of $655,700 (equivalent to ₦200 million) for landed property in Abuja, without recourse to a financial institution.

Justice James Omotosho held that the Economic and Financial Crimes Commission (EFCC) proved its case beyond reasonable doubt, finding Mamman guilty of illegally diverting public funds linked to the Mambilla and Zungeru Hydroelectric Power projects.‎‎

The court also found that Mamman used the funds for personal gain, including paying $655,700 (about ₦200 million) in cash for landed property in Abuja—beyond the legal limit—and acquiring luxury assets in Nigeria and abroad. ‎‎

Justice Omotosho described the prosecution’s evidence as “overwhelming,” saying Mamman failed to offer any credible defence, while the EFCC presented 17 witnesses and 43 exhibits to support the case. ‎‎

The court noted that most of the funds were siphoned through Bureau de Change operators (BDCs), who converted the money into foreign currencies and handed it over to the defendant.

“The evidence of the prosecution is overwhelming as against the scanty and almost absent defence of the defendant.

“The defendant did not offer any credible evidence to rebut the prosecution’s case,” Justice Omotosho held.

Meanwhile, the judge has adjourned the matter to a later date for sentencing. ‎‎‎

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Kogi Commissioner confirms release of remaining abducted orphanage victims

The operation, carried out in the Agbaja Forest axis of Lokoja Local Government Area, resulted in the safe recovery of five boys, two girls, and two adult females.

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Kogi State Commissioner for Information and Communications, Kingsley Fanwo has confirmed the safe return of all those kidnapped from the Daarul-Kitab Islamic Orphanage in Lokoja.

Gunmen stormed the orphanage on April 26 and abducted 23 children, including the proprietor’s wife. Following intervention by security operatives, 15 victims were rescued on April 27.

In a statement Commissioner Fanwo said that the remaining nine victims regained freedom during a rescue operation conducted in the early hours of yesterday.

He described the development as a breakthrough against criminal elements operating within the state and a relief to affected families.

According to him, troops of the 12 Brigade of the Nigerian Army led the coordinated search-and-rescue mission with support from other security agencies.

The operation, carried out in the Agbaja Forest axis of Lokoja Local Government Area, resulted in the safe recovery of five boys, two girls, and two adult females.

Fanwo said the remaining nine victims regained freedom during a rescue operation conducted in the early hours of Wednesday.

He described the development as a breakthrough against criminal elements operating within the state and a relief to affected families.

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FCCPC, NAFDAC sign consumer protection MoU

The Memorandum of Understanding (MoU) was signed on Wednesday at the FCCPC headquarters in Abuja.

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The Federal Competition and Consumer Protection Commission (FCCPC) and the National Agency for Food and Drug Administration and Control (NAFDAC) have signed a partnership agreement aimed at improving consumer experiences and ensuring value for money.

The Memorandum of Understanding (MoU) was signed on Wednesday at the FCCPC headquarters in Abuja.

The Executive Vice-Chairman of FCCPC, Mr Tunji Bello, described the partnership as a deliberate step towards strengthening collaboration in the interest of Nigerian consumers, particularly in areas where product safety and consumer protection intersect and require coordinated action.

In her remarks, the Director-General of NAFDAC, Prof. Mojisola Adeyeye, described the MoU as a step in the right direction.

“We have had similar arrangements in the past, but this represents an improved version of the partnership,” she said.

She commended the FCCPC leadership for its commitment to protecting Nigerian consumers and reaffirmed NAFDAC’s dedication to fully implementing the provisions of the agreement.

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