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🇳🇬 Shell Approves $2 Billion Offshore Gas Project in Nigeria — A Major Boost for the Nation’s Energy Future

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Global energy giant Shell Petroleum Development Company (SPDC) , in collaboration with Sunlink Energies , has officially approved the development of a new $2 billion offshore gas project in Nigeria. This project, named the HI Gas Field Development , is a landmark step in reviving Nigeria’s oil and gas fortunes and a strong signal of renewed investor confidence in Africa’s largest energy producer. 🔹 A Bold Step in the Offshore Frontier The HI gas field, located in Oil Mining Lease (OML 144) roughly 50 kilometers offshore the Niger Delta coast, is expected to produce about 350 million standard cubic feet of gas per day at peak capacity. Shell holds a 40% stake in the project, while its partner Sunlink Energies retains 60% . The gas will be supplied primarily to Nigeria LNG (NLNG) and other domestic offtakers, helping to meet Nigeria’s rising energy demand. According to project details released by Shell on Monday, the development will include a combination of subsea wells , of...
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EFCC Arrests Madonna University Deputy Vice-Chancellor Over Alleged ₦4 Billion Fraud

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In a developing corruption scandal shaking the academic and financial sectors, the Economic and Financial Crimes Commission (EFCC) has arrested Prof. Martin Anagboso, the Deputy Vice-Chancellor of Madonna University, over allegations of financial fraud, forgery, and corporate misconduct.

According to reports, the arrest took place at the Abuja International Airport, following a petition by a human rights lawyer, Barrister Olu Omotayo, to the DSS and EFCC. The petition alleges that Prof. Anagboso, alongside Annete Ezekwem and others, orchestrated the illegal alteration of company records at the Corporate Affairs Commission (CAC). The changes reportedly involved shareholding structures of Mayfresh Mortgage Bank Limited, where a controversial loan totaling over ₦4 billion is at the center of dispute.

The case, which began drawing public attention in late 2024, took a serious turn after new documents surfaced showing how share records were allegedly forged to edge out legitimate stakeholders and block them from recovering funds. One of the key figures also mentioned is Mark Egbegolu, the acting Managing Director of Mayfresh Bank, who is alleged to have fraudulently transferred ₦30.15 million into private accounts.

The whistleblowing lawyer called on Nigerian authorities to take immediate action, insisting that these fraudulent dealings not only undermine investor trust but also raise serious questions about the university's corporate ethics and financial dealings.

While Prof. Anagboso has reportedly been released on administrative bail, the EFCC is expected to press formal charges in the coming weeks, pending completion of investigations.

This high-profile arrest sends a strong message that no individual is above the law, especially within educational institutions that should represent integrity and accountability. Nigerians are now watching closely to see if justice will be served and whether Madonna University will respond publicly to the allegations surrounding one of its top officials.

Stay tuned to Luchiinter Blog for updates on this developing story.


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