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EFCC Endorses CBN’s Moves on New Naira Notes
The Economic and Financial Crimes Commission, EFCC, has applauded the move by the Central Bank of Nigeria, CBN, to redesign and reissue higher denominations of the Nigerian Currency, the Naira. Speaking at a press briefing today, October 26, 2022, the CBN Governor, Godwin Emefiele announced that the apex bank had obtained the approval of President Muhammadu Buhari to resign and issue new N200, N500 and N1000 notes that shall come into circulation by the 15th of December, 2022.
Responding to the development, the Executive Chairman of the EFCC, Abdulrasheed Bawa described the move by the apex bank as “a well-considered and timely response” to the challenges of currency management which has negatively impacted the country’s monetary policy and security imperatives. “The EFCC, the CBN and some other regulators in the financial sector have worked closely in the recent past to determine how best to stabilize the country’s monetary policy environment. It is heart-warming that the CBN has demonstrated courage in taking this bold decision which I believe will bring sanity to the currency management situation in Nigeria”, he said.
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He called on operators in the Nigerian financial services sector, especially deposit money banks and bureau de change operators to work within the guidelines provided by the Central Bank of Nigeria to ensure seamless withdrawal of the old currency. Bawa however warned that EFCC will monitor the process to ensure that unscrupulous players and currency speculators and their cohorts among the BDCs do not undermine the exercise. He also charged banks to be alive to their reporting obligations and not assist unscrupulous customers in laundering suspected proceeds of crimes through their system.
The EFCC boss further pointed out that the objectives which the CBN seeks to achieve with the redesign and reissue of the higher denomination Naira notes, were in tandem with the objectives of the Money Laundering Prevention Prohibition Act 2022, which criminalizes the conduct of cash transactions above a certain threshold.
According to Section 2 (1) of the Money Laundering Act 2022 “No person or body corporate shall, except in a transaction through a financial institution, make or accept cash payment of a sum exceeding— (a) N5,000,000 or its equivalent, in the case of an individual ; or (b) N10,000,000 or its equivalent, in the case of a body corporate.”
Optimistic that the new currency measure would further boost Nigerians’ embrace of banking culture and encourage the acceptance of cashless transactions, the EFCC Chairman recalled that the Commission had recently taken operational action against currency hoarders in major commercial cities of Nigeria.
“It is therefore pertinent to issue this stern warning to Bureau de Change operators to be wary of currency hoarders who would attempt to seize this opportunity to offload the currencies they had illegally stashed away.”
Noting that currency hoarders readily made their hoard available to criminal enterprise, the EFCC boss further stated that the Commission will spare no effort to bring to book any financial services operator who runs afoul of extant laws and regulations.
Wilson Uwujaren
Head, Media & Publicity
26 October, 2022
PRNigeria
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Four bandits, including notorious leader, killed in Kaduna operation
Four bandits, including notorious leader, killed in Kaduna operation
Security forces have reported to the Kaduna state government that troops of Operation Whirl Punch neutralized four bandits, including one notorious bandit leader, during fighting patrols in Giwa Local Government Area of the state at the weekend.
Samuel Aruwan, Overseeing Commissioner, Ministry of Internal Security and Home Affairs, Kaduna State, disclosed this in a statement on Monday.
“Acting on credible intelligence, the troops sighted bandits fleeing the latter location and engaged the criminals in hot pursuit. The troops neutralized two of the bandits and recovered a range of items including a motorcycle, a mobile phone, gas lighters, tobacco, assorted charms, and a polythene bag containing petrol.
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“Another leg of the operation was conducted at Basurfe village, southwest of Kindandan. The troops fought through an ambush and forced the bandits to flee on motorcycles. A vigorous pursuit resulted in two more bandits being neutralized. The troops further exploited the area and dislodged a camp serving as a treatment area for the insurgents.
“Recoveries made at the location included two AK47 rifles, one pump action rifle, three magazines, 16 rounds of ammunition, one Improvised Explosive Device (IED), two radios and one motorcycle, as well as cigarettes, drugs and medical accessories.
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Ekiti court hands down life sentence to 43-year-old man for attempted murder
Ekiti court hands down life sentence to 43-year-old man for attempted murder
Ado-Ekiti—An High Court, sitting in Ado-Ekiti, Ekiti State capital, has sentenced one Akinyemi Ojo to life imprisonment for attempted murder.
Ojo, 43 was arraigned before Justice Blessing Ajileye on 25th January, 2023 on one count charge bordering on attempted murder.
According to the charge, Ojo attempted to murder one David Faith on Dec. 5, 2022 in Aramoko -Ekiti by matcheting her, an offence that is punishable according to Section 241 of the Criminal Law of Ekiti State, 2021.
In her testimony before the court, the victim stated, “I was going to my farm on that day, I met the defendant on the way and we exchanged pleasantry, I later branched to my farm to pluck some okro, after sometime, I saw the defendant coming towards where I was, holding a cutlass, I suspected his movement to be of evil agenda, I then took to my heels, he was chasing me with cutlass and met me where I fell.
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“He gave me matchet cuts all over my body and I became unconscious, I did not see him again when I regained little consciousness, I crawled to the main road where some passersby took me to the General Hospital, Aramoko -Ekiti, I did not know my offence or why he decided to kill me” she concluded.
The prosecutor, Taiwo Ajibulu-Ariyo, called five witnesses and tendered defendant and victims’ statements, cutlass and pictures of the victim as exhibits while the defendant spoke in his own defence through his lawyer and called no witness.
In his ruling, Justice Ajileye said, “In this instant case, I found that the defendant matchetted the victim and degree of injury inflicted on her was capable of causing her death but for the intervening efforts of the passersby who saw her in the pool of blood.
“The defendant is hereby convicted as charged in line with Section 241 of the Criminal Laws of Ekiti State, he is accordingly sentenced to life imprisonment”.
Ekiti court hands down life sentence to 43-year-old man for attempted murder
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Kaduna ambush claims soldier’s life, stepmother abducted
Kaduna ambush claims soldier’s life, stepmother abducted
The community of Anguwan Rimi in Zango Kataf Local Government Area of Kaduna State has been shaken by tragedy as a soldier, Yahaya Ayuba (Zabuyia), was reportedly killed, and his stepmother abducted by gunmen.
Confirming the incident, a family member, Mr. Kantiok Solomon, revealed that the soldier had recently returned from Lagos and was engaged in a discussion with his family members at the palace when the assailants struck. Despite his resistance, the gunmen, noticing his uniform, fatally shot him.
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Angelo Tagwai, another resident, echoed Solomon’s sentiments, expressing the community’s shock and emphasizing the urgency for security forces to intervene and ensure the perpetrators are brought to justice. This incident marks the third such violent occurrence in the area, heightening concerns among locals.
Efforts to obtain official comments from the Kaduna State Police Public Relations Officer, ASP Mansir Hassan, were unsuccessful as calls and messages went unanswered.
Kaduna ambush claims soldier’s life, stepmother abducted
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