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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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Illicit Donations: Adeboye Orders RCCG to Refund Billions Traced to Church Projects
Illicit Donations: Adeboye Orders RCCG to Refund Billions Traced to Church Projects
The General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, ordered the immediate refund of billions of naira traced to church projects after the Economic and Financial Crimes Commission (EFCC) linked the funds to proceeds of alleged financial crimes.
EFCC Chairman, Ola Olukoyede, disclosed that Adeboye directed church officials to return the money within 24 hours after the commission informed him of the findings of its investigation.
Olukoyede made the revelation on Saturday, November 7, 2026, while addressing pastors, ministers and other workers of the RCCG at the Redemption City of God, Simawa, Ogun State.
The meeting followed the church’s monthly Holy Ghost Service and was organised to discuss ethical standards, financial propriety and the need for transparency in religious institutions.
Recounting the incident, the EFCC chairman said an individual under investigation for alleged financial crimes had made substantial donations to RCCG projects. However, investigations by the commission subsequently traced some of the funds to the church.
According to Olukoyede, the individual was involved in financial transactions running into tens of billions of naira, with some of the money eventually traced to RCCG projects.
He said he personally approached Adeboye to explain the commission’s findings, after which the cleric immediately instructed church officials to return every amount traced to the individual.
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Olukoyede said Adeboye was visibly displeased when he learnt about the source of the funds and gave the church officials 24 hours to return the money.
The EFCC chairman said the funds were subsequently returned to government coffers, commending the cleric for his response and describing it as an example of accountability.
He did not disclose the identity of the donor, the exact amount returned or the specific RCCG projects that received the funds.
Using the incident to warn religious organisations against questionable financial transactions, Olukoyede urged church leaders to investigate the sources of substantial donations before accepting them.
He cautioned that religious institutions must not become channels through which proceeds of crime are concealed or legitimised, stressing that religious status should not shield anyone from investigation or prosecution.
The EFCC boss also expressed concern about cases involving religious leaders allegedly implicated in financial misconduct, including questionable transactions and irregularities surrounding contracts for church projects.
He recalled a separate case involving another church allegedly linked to a Ponzi scheme, saying its leader initially resisted the commission’s intervention but eventually refunded a substantial amount after the EFCC threatened legal action.
Olukoyede did not identify the church or provide further details about the case.
He further warned against the growing influence of materialism, unhealthy competition and struggles for leadership positions in religious organisations.
The EFCC chairman raised concerns about reports of individuals allegedly offering money to secure ordination, promotion or leadership positions within the RCCG.
He described the offering or receiving of money in exchange for such positions as bribery, warning that both parties could be held accountable under the law.
Olukoyede also cautioned pastors against giving undue recognition to individuals whose wealth is suspected to be linked to financial crimes. He said churches should welcome people without using religious platforms to celebrate or promote questionable sources of wealth.
Responding to the EFCC chairman’s remarks, Adeboye reportedly assured him that the RCCG would not protect anyone found involved in financial wrongdoing.
The cleric also urged pastors and church workers to maintain proper financial records and ensure that their activities were free from corruption.
Olukoyede, who is also a senior pastor in the RCCG, said the fight against financial crimes must apply to everyone, irrespective of religious affiliation, position or influence.
He urged religious leaders to uphold transparency and accountability, warning that corruption within faith-based institutions could undermine public trust and the moral authority of religious organisations.
Illicit Donations: Adeboye Orders RCCG to Refund Billions Traced to Church Projects
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Woman Arrested Over Alleged Poisoning Of Co-Wife’s Children In Niger, One Dies
Woman Arrested Over Alleged Poisoning Of Co-Wife’s Children In Niger, One Dies
The Niger State Police Command has arrested a woman, identified as Mariya Abdullahi, for allegedly poisoning her co-wife’s two children in Takuti community, Lapai Local Government Area of the state, resulting in the death of one of the victims.
The children, aged four and nine, reportedly became unconscious after consuming a substance suspected to be poison allegedly given to them by Abdullahi.
The incident occurred on Friday, November 6, 2026, at about 6am.
The children were reportedly rushed to a nearby clinic after they became unconscious. However, one of them died shortly after arriving at the facility, while the other was referred to a general hospital for further treatment.
The survivor was responding to treatment as of the time the incident was reported.
The Police Public Relations Officer in Niger State, SP Wasiu Abiodun, confirmed the incident in a statement issued on Saturday, November 7.
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According to him, the Lapai Police Division received a report that Abdullahi, a resident of Takuti community, had allegedly administered a substance suspected to be poison to her co-wife’s children.
He said police operatives immediately moved to the scene and discovered that the two children had consumed the substance before they became unconscious.
Abiodun disclosed that the suspect was arrested and was undergoing interrogation.
He added that during questioning, Abdullahi claimed she was influenced by a friend to commit the alleged act because she had been unable to have a child for her husband.
The police spokesman said the suspect would be transferred to the State Criminal Investigation Department (SCID) in Minna for further investigation and prosecution.
The incident has raised concerns over the safety of children and domestic relationships in polygamous households.
Meanwhile, the police have yet to disclose the identity of the deceased child or provide further details about the substance allegedly administered to the victims.
Investigations into the incident are ongoing.
Woman Arrested Over Alleged Poisoning Of Co-Wife’s Children In Niger, One Dies
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Police Detain ASP After Bullet Kills Girl, Injures Another in Lagos
The Lagos State Police Command has detained an Assistant Superintendent of Police (ASP), Omotayo Olajide, after a bullet discharged from his firearm during a police operation in Ajegunle killed a young girl and injured another.
The incident occurred on Thursday, November 5, 2026, between 9:30 pm and 10 pm in the Nosamu area of Ajegunle, Lagos State, during a police response to a violent clash between two rival groups.
The police identified the deceased girl as Omole Taiwo, while the second victim is receiving medical treatment and is reportedly in stable condition.
According to the command, preliminary investigations showed that officers were deployed following a distress call over a clash between rival groups known as the Nosamu Boys and Alayabiagba Boys.
The groups were reportedly engaged in a violent confrontation over toll collection and allegedly armed with cutlasses and other dangerous weapons.
During the operation, ASP Olajide discharged his firearm, and the bullet struck the two girls.
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Both victims were immediately rushed to Ajeromi General Hospital for medical attention. However, Taiwo was later transferred to the Lagos State University Teaching Hospital (LASUTH), Ikeja, where she eventually died.
The police said the officer had been disarmed and detained, while the case had been transferred to the State Criminal Investigation Department (SCID) for further investigation.
In a statement issued on Saturday, the command’s spokesperson, SP Abimbola Adebisi, said the investigation would establish the circumstances surrounding the shooting and determine the appropriate legal and disciplinary action.
The Commissioner of Police, Lagos State Command, Tijani Fatai, also visited the family of the deceased to express his condolences.
Fatai assured the bereaved family that the investigation would be thorough, adding that no police officer found culpable would be shielded.
The police have yet to establish whether the officer deliberately fired at the rival groups, whether the girls were caught in the line of fire or whether the firearm was discharged unintentionally.
The incident has renewed concerns over civilian safety during police operations and the need for accountability whenever security personnel use firearms in public places.
Police Detain ASP After Bullet Kills Girl, Injures Another in Lagos
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