News

Anti-Corruption Group Petitions Efcc Over Alleged N400billion Fraud By Ex-Unity Bank Chair

Published

2 years ago

10th June 2024

A civil society group dedicated to the promotion of democracy and championing anti-corruption causes, Global Integrity Crusade Network (GICN) has dragged a former Chairman, Board of Directors of Unity Bank Nigeria Plc, Thomas Akoh Etuh before the Economic and Financial Crimes Commission (EFCC) for alleged serial financial crimes.

In a petition dated June 4th, 2024 and addressed to the EFCC Chairman, the group drew the attention of the EFCC to a legion of crimes allegedly perpetrated by Mr Etuh while serving as Unity Bank boss a few years ago.

Signed by Edward Omaga, the President of the GICN, the group accused Etuh of insider abuse and fraudulent conversion of depositors’ funds into personal use among other allegations.

The petition titled, “Call for action,” read in part, “We have recently uncovered an avalanche of documents showing that Thomas Akoh Etuh can comfortably be adjudged as “the worst enemy of banking in Nigeria”. He was first appointed as Pioneer Vice Chairman of Unity Bank Plc on 22nd April, 2014 having garnered over two decades experience in the public and private sectors of the economy.

“Before this time, Thomas Akoh Etuh served as a Director in several companies in Nigeria and equally chaired a number of Board Committees in Unity Bank Plc. On 23rd January, 2015 he was appointed as Chairman, the Board of Directors of Unity Bank Plc and confirmed by the Central Bank of Nigeria (CBN). This followed the resignation of the former Chairman, Alhaji Lamis Shehu Dikko who left to pursue his political aspirations.”

For the 33 years he held sway as Chairman, Board of Directors of Unity Bank Plc, GICN alleged that Mr Etuh committed serial infractions so much that he ought to be in prison rather than walking freely on the streets.

“Within the period under review, a previously healthy Unity Bank Pic led by Thomas Akoh Etuh found itself completely hollowed out after giving out hundreds of billions of naira in non- performing loans (NPLs). The Bank was reduced to meticulously cooking its books while secretly operating with negative share capital for the better part of a decade.

“As a way of pretending to solve the bank’s woes, Thomas Akoh Etuh opted to sell its interest under some distressed condition to a younger competitor named Providus Bank Plc, even while he continued to lavish stupendous amounts of money on his personal business interests,” he petition further read.

The group claimed that TAK Continental Limited “Belonging to Thomas Akoh Etuh was listed by the Assets Management Company of Nigeria (AMCON) as owing Unity Bank Plc the sum of N411. 59bn making it the 22nd biggest debtor owing Nigerian bank.

By the time Etuh retired in 2017, the group alleged that about seven companies with links to Etuh accounted for about N27bn out of the Unity Banks non-performing loans of over N400bn.

Etuh according to GICN did not act alone, accusing board members and regulators of conniving with the ex-Unity Bank boss.

“The Banks and Other Financial Institutions Act (BOFIA) 2020 and the CBN’s Prudential Guidelines contain multiple clauses that criminalizes pretty much everything described above. The Prudential Guidelines for example, state that the maximum amount that can be given as a loan to a single borrower or group of related borrowers is 20 per cent of the bank’s shareholder funds.

“Thomas Etuh claimed that Unity Bank’s shareholders’ funds stood at N431bn when he took charge, going up to N480BN by the time he left. Pulling aside the assumption that Unity Bank has, been running with negative shareholders’ funds since 2016, if we are to use his dodgy math, his NPL portfolio of N29Bn grossly exceeds the prudential guidelines both in the case of N31 Billion SHF (93.5 percent) and N80 Billion SHF (36.25 percent),” the group argued.

Anchoring its prayers on the whistle blowing policy of the Federal Government, GICN called on the EFCC to immediately arrest and prosecute Mr Etuh, stating that “This will go a long way in proving to the overwhelming population of Nigerians that the EFCC is truly committed to tackling the menace of criminality headlong, no matter who is involved.

“We contend that the action of the Lagos State High Court presided over by Justice L.A. Okunnu when he discharged Thomas Akoh Etuh on 21 September, 2021 of complicity in the money laundering charges preferred against Francis Atuche and Ugo Anyanwu is wrong, unacceptable and reprehensible.

“It is impossible for Francis Atuche and Ugo Anyanwu to be convicted while Thomas Akoh Etuh who is regarded as the “father of fraud in the banking sector would remain a free man till date.”

The group also expressed its readiness to appear before the EFCC for purpose of writing statement and presenting more indicting documents capable of substantiating the weighty allegations contained in petition against Mr. Etuh.

It also called on the EFCC to direct the CBN to remove all the Directors of Unity Bank to pave way for a thorough probe of the accounting books to ascertain the depth of shady deals perpetrated during the reign of Etuh.

The petition was copied to the President, CBN Governor, AMCON MD, Director General, National Crime Agency, UK, among others

News

Chadreek Renews Recording Contract with UK-Based Label SauceBoi Music

Published

1 week ago

27th September 2026

Usman Oladuntoye

Nigerian Afrobeats artist Chadreek (born Salau Qudus Emiola) has officially renewed his recording contract with SauceBoi Music, the UK-based label that has played a pivotal role in his career development.

The renewed agreement reinforces the longstanding partnership between the artist and the label. It positions Chadreek for the next phase of his career with enhanced support across music production, distribution, marketing, and international expansion.

Known for his smooth vocal delivery and consistent output, Chadreek has steadily cultivated a dedicated following through standout records including Ori Mi (featuring Seyi Vibez), Better Dayz, Awure, and his earlier project No Bad Vibe. The renewed deal is expected to accelerate his momentum as he prepares new music and broadens his presence across Africa and global markets.

A source close to the camp confirmed that both parties are fully aligned on a clear vision for the artist’s next chapter, with a strong emphasis on high-quality releases and strategic growth.

This renewal marks another significant milestone in Chadreek’s journey as he continues to establish his place within the Afrobeats landscape.

About Chadreek
Chadreek is a Nigerian singer and songwriter signed to SauceBoi Music. He is recognised for his distinctive voice and a growing catalogue of Afrobeats records that blend melody, emotion, and street energy.

About SauceBoi Music
SauceBoi Music is a UK-based record label committed to developing and promoting talent across the Afrobeats and broader African music scenes.

Audio

YTJ Announces New Single “JO,”

Published

3 weeks ago

12th September 2026

Usman Oladuntoye

Rising Afro-fusion artist builds on the momentum of “Closer” with an energetic new release made for dance floors worldwide

Recoup Records announces the forthcoming release of “JO,” the new single from rising Afro-fusion artist YTJ, arriving on all major digital streaming platforms September 10, 2026.

The release follows the growing international success of YTJ’s previous single, “Closer,” which has generated more than 4 million combined YouTube views and surpassed 3 million audio streams within two months of release. The record has also received airplay across more than 70 radio stations and 30 television channels worldwide, while reaching No. 63 on YouTube Music in Nairobi, Kenya.

With “JO,” YTJ enters the next phase of his sound and creative direction.

Driven by infectious rhythm, vibrant production and an unmistakable celebratory energy, “JO” is an Afro-fusion record built for movement. The single pairs YTJ’s melodic approach with a polished, high-energy production designed to connect across clubs, parties, festivals and playlists globally.

The visual world surrounding the release reflects that same energy. Built around a striking red-lit aesthetic, the “JO” campaign presents a confident and elevated side of YTJ as he continues to expand his presence beyond his home market and reach new audiences internationally.

“My intention with ‘Closer’ was simply to make something that would connect with people, and the response went beyond what I imagined,” says YTJ. “With ‘JO,’ I wanted to take that energy somewhere new. This record is a celebration — and we’re just getting started.”»

“JO” arrives at a pivotal moment for YTJ. Following the momentum established by “Closer,” the new single signals an artist increasingly focused on creating music that bridges cultures while remaining rooted in the rhythm, melody and energy of contemporary African music.

For Recoup Records, the release represents another step in the label’s commitment to developing YTJ’s international profile and introducing his music to a broader global audience.

“JO” by YTJ is available across all major digital streaming platforms HERE

ABOUT YTJ

YTJ is an emerging Afro-fusion artist whose music blends contemporary African rhythms, melody and global influences. With a growing international audience and millions of streams and views across digital platforms, YTJ is building a sound and identity designed to travel beyond borders.

Following the international response to “Closer,” YTJ continues his next chapter with “JO,” expanding his creative vision while establishing himself as an emerging voice in the new generation of African music.

ABOUT RECOUP RECORDS

Recoup Records is an independent music company focused on artist development, music distribution and building globally competitive African talent. Through strategic releases, media partnerships and international promotion, the label works to connect its artists and music with audiences around the world.

Entertainment Gists

Josh2Funny’s Album Has Fans Talking — But Should He Stick To Music Or Skits?

Published

4 weeks ago

10th September 2026

manlikeakoh

Josh2Funny’s Album Has Fans Talking — But Should He Stick To Music Or Skits? 😂🎶

Nigerian comedian and content creator Josh2Funny has taken his comedy game into music, and Nigerians are definitely having something to say about it.

The comedian released his 15-track album, “On Behalf of Josh,” on July 10, 2026, but instead of fading away after release, the project has continued to generate conversations on X.

And the big question now is:

Should Josh2Funny continue with music or go back to skits? 😂

Fans have been divided. While some listeners openly criticized the album and told him to return to comedy, others found songs they genuinely enjoyed.

One X user joked:

“Josh2Funny stopped doing skits and started music, Everybody wan chop this music money 😂”

Another simply said:

“This Josh2Funny Album no enter make he just go back skit abeg 😂”

But then came “Lembe.” 🔥

The track caught fire on X and eventually became a trending topic in Nigeria. The #LembeChallenge also gained momentum as creators began jumping on the song.

Josh2Funny later announced ₦1 million for winners of the challenge, giving the song another major push.

And it didn’t stop there.

‘INTERNATIONAL’ FT. ICE PRINCE ALSO TRENDED

On another day, “International” featuring Ice Prince generated its own buzz on X.

One fan even called it their favourite song from the album, while praising the collaboration. The post itself pulled thousands of views, showing that people weren’t only talking about Lembe.

From album criticism to trending songs and challenges, “On Behalf of Josh” has kept Josh2Funny’s name in the conversation.

Whether you love the album or think he should return to skits, one thing is clear:

Josh2Funny has succeeded in getting Nigerians talking. 😂🔥