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Jos attack: Why I addressed crowd from armoured carrier — Gov Mutfwang

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Governor Caleb Mutfwang of Plateau State has explained why he addressed a tense crowd from an Armoured Tank Carrier, ATC, after Palm Sunday’s deadly attack in Jos, the state capital.

Fielding questions during an interview on Channels Television’s Politics Today on Friday, the governor attributed his decision to both security considerations and the need to effectively communicate with residents during a volatile moment.

“From the height I stood, part of the reason they put me in the ATC was for me to gain height in order to address the crowd,” he explained.

DAILY POST reports that the attack, which drew widespread attention online, triggered claims about whether the governor had been under threat.

But the governor debunked the speculation, insisting that his interaction with the crowd was largely peaceful and cooperative.

“As I addressed the crowd and they were comfortable that I had arrived, that’s why they were saying, ‘come, come,’ assuring me that I could come and that there was no harm,” he added.

Mutfwang added that much of the public perception was shaped by clips circulating on social media, which failed to capture the full scope of his engagement at the scene.

He stressed that he felt safe among the people, even as security operatives remained cautious.

Governor Mutfwang revealed that he had been in Abuja attending official engagements, including the APC National Convention and high-level security consultations, when news of the incident broke.

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Alleged Criminal Conversion: EFCC Recovers N4.4bn Worth of AGO in Lagos

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The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, on Monday, August 17, 2026 recovered 2.3 million litres of Automotive Gas Oil, AGO, valued at N4.485 billion from Mamemo Ibru of Ibafon Oil and Gas, during an investigation into an alleged case of stealing and criminal conversion.

The recovery followed a petition submitted by Prudent Energy and Services Limited, alleging that petroleum products entrusted to Ibafon Oil and Gas for storage had been unlawfully converted, resulting in a significant shortfall in the company’s stock.

The petitioner also alleged that periodic withdrawals were made from the stored products until the outstanding balance stood at 2,574,031 litres.

However, during a subsequent physical measurement and reconciliation exercise, only 206,761 litres remained in the storage tanks, leaving a deficit of 2,367,270 litres.

Investigation revealed that Ibafon Oil and Gas is involved in the purchase and sale of Automotive Gas Oil (AGO) and also stores its petroleum products at the same depot alongside products belonging to its customers.

It was further revealed that Ibru allegedly used his position as the owner of Ibafon Oil and Gas to truck out petroleum products in excess of the quantity owned by the company, thereby converting the petitioner’s products for his own use.

Following the Commission’s intervention, the suspect handed over the recovered products to the petitioner, Prudent Energy and Services Limited.

The post Alleged Criminal Conversion: EFCC Recovers N4.4bn Worth of AGO in Lagos appeared first on Business Today NG.

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DOJ’s probe into Andreessen Horowitz over board seats baffles VCs

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The Justice Department has launched a probe into Andreessen Horowitz regarding the firm’s partners serving on the boards of competing companies, Bloomberg reported.

The nearly year-long investigation focuses specifically on the firm’s board seats at Databricks, which is valued at $190 billion, and Fivetran, which combined with dbt Labs in June. The firm’s co-founder, Ben Horowitz, serves on the board of Databricks, while partner Martin Casado serves on the board of Fivetran.

Several VCs told TechCrunch they were surprised by news of the probe. Databricks and Fivetran are competitors now, but the two companies weren’t rivals when a16z invested in the startups, according to another Databricks investor who spoke on condition of anonymity. Databricks is largely known for its cloud storage products but, with its Lakeflow product, has expanded into AI data pipelines and application connectors. That’s Fivetran’s main business.

Given that Andreessen Horowitz has backed hundreds of companies, it’s almost inevitable that some startups will pivot or expand into the same markets, becoming competitors.

While backing direct rivals has become more acceptable recently, as evidenced by the many VCs that funded both Anthropic and OpenAI, holding a board seat on competing startups creates a far greater conflict of interest. Directors are generally privy to much more sensitive strategic information than non-board investors ever see.  

Such conflicts can be resolved by having a partner step down from one of the boards. However, because Databricks and Fivetran have different individuals from the same VC firm on their boards, a16z can institute a so-called Chinese wall between Horowitz and Casado, which would prevent the two partners from sharing confidential information about the two companies with each other, one investor said.

The investigation invokes Section 8 of the Clayton Act, a 112-year-old law stating that an individual or entity is barred from serving on the boards of competing companies. Since regulators have rarely targeted venture capital with this rule, the industry is watching the DOJ’s probe closely. If a16z is forced to surrender a seat, founders may place less value on board commitments from top-tier VCs, given that those investors might be forced to step down if a portfolio overlap creates a future conflict.

Andreessen Horowitz did not immediately respond to our request for comment, nor did it respond to Bloomberg. Databricks and DOJ declined comment.

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