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400 suspected Boko Haram, bandits’ sponsors arrested

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Security agents have arrested about 400 businessmen for allegedly funding operations of Boko Haram and bandits in the country.

Daily Trust reported that the businessmen were arrested in an operation coordinated by the Defence Intelligence Agency (DIA), and in collaboration with the Department of State Services (DSS), Nigerian Financial Intelligence Unit (NFIU) and the Central Bank of Nigeria (CBN).

President Muhammadu Buhari was said to have approved the operation in 2020.

The newspaper reported that an initial list of 957 suspects comprising bureau de change (BDC) operators, gold miners and sellers, and other businessmen is being acted upon.

A source told the newspaper that about 400 persons were arrested in Kano, Borno, Abuja, Lagos, Sokoto, Adamawa, Kaduna and Zamfara.

Names of the BDC operators arrested were given as Baba Usaini, Abubakar Yellow (Amfani), Yusuf Ali Yusuf (Babangida), Ibrahim Shani, Auwal Fagge, and Muhammad Lawan Sani, a gold dealer.

Those arrested are reportedly being kept in military and the DSS facilities in Abuja and other places.

“Because this is economic warfare against the insurgents and other militant groups, the president, when approving the operation directed that the NFIU take the lead as the country’s financial intelligence powerhouse,” Daily Trust quoted a source to have said.

The source added that “with the presidential approval, a task team was composed of personally selected senior officers who were deployed under the DIA to carry out the special assignment”.

“The main person coordinating the funding ring for Boko Haram is in our custody, he and his closest ally in the business,” he said.

Another source was quoted to have said about 19 BDCs owned by persons with “direct connection with Boko Haram” were uncovered, while over N300 billion was found to have been used in funding terrorism.

Apart from one person in Borno and another in Zaria, Kaduna state, the source said over N50 billion were traced in funding to the armed groups.

“A number of those arrested have divulged vital information including operational details of bandits and Boko Haram insurgents. But they are being kept to aid further arrests,” the source was quoted to have said.

Family members of those arrested, the newspaper reported, have been calling on the government for their release.

In 2020, six Nigerians were also jailed in the United Arab Emirates for allegedly funding Boko Haram.

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JUST IN: Old naira: IMF asks FG, CBN to extend February 10 deadline

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The International Monetary Fund (IMF) has called for the extension of the February 10 deadline to phase out the old naira notes.

The International monetary body made the call just after the Supreme Court had restrained the Federal Government and Central Bank of Nigeria(CBN) from enforcing the deadline.

The IMF, in a statement in Abuja on Wednesday by Laraba Bonet, said the plea was on the hardship Nigerians were exposed to over the issue.

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It said: “in light of hardships caused by disruptions to trade and payments due to the shortage of new bank notes available to the public, in spite of measures introduced by the CBN to mitigate the challenges in the banknote swap process, the IMF encourages the CBN to consider extending the deadline should problems persist  in the next few days leading up to the February 10, 2023 deadline”.

The IMF is the first international financial organisation to openly call for extension of the deadline for the deposit of old Naira notes.

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Cash crunch: Protesters defy police in Abeokuta, make bonfires on major roads

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Residents of Abeokuta, Ogun State, took to the streets on Tuesday protesting the scarcity of cash and the attendant pains.

Major streets affected by the protests are Aladesanmi, Fajol and Somorin in Obantoko area of Abeokuta as the protesters made bonfires and chanted anti-CBN songs
The Sapon branch of First Bank was also vandalised and the protesters tried to set it ablaze.
Ogun Police spokesman, Abimbola Oyeyemi, confirmed the protest, saying police officers were on the ground to monitor the situation and prevent the destruction of property and loss of lives.
He said some group of boys were involved in the crisis.
The police later came to disperse the protesters but they regrouped as soon as the operatives withdrew from the scene.
The situation affected vehicular movement as motorists and pedestrians ran in different directions to avert being caught up in the chaotic situation.

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Court frees Diezani associate Omokore of $1.6bn fraud

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An Abuja federal high court on Tuesday discharged and acquitted Jide Omokore, chairman of Atlantic Energy Drilling Concepts Nigeria Limited, of $1.6bn fraud allegations.

Omokore, an associate of former Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, was arraigned by the Economic and Financial Crimes Commission (EFCC) with Victor Briggs, Abiye Membere, and David Mbanefo on a 15-count charge on July 4, 2016.

They were accused of fraudulently diverting the $1.6bn said to be part of proceeds of sales of petroleum products belonging to the Federal Government.

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