Stashed funds: EFCC places many governors on watched list – Newstrends
Connect with us

metro

Stashed funds: EFCC places many governors on watched list

Published

on

Chairman,Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa

Chairman,Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, on Thursday in Abuja updated President Muhammadu Buhari on the activities of the commission.

Bawa, who briefed State House correspondents after his meeting with the president, said the number of governors being monitored by the Commission for suspected cases of money laundering has increased beyond the three earlier mentioned.

The EFCC boss, however, did not give the actual number of the affected governors under the EFCC radar or surveillance operations.

Some governors, including that of Zamfara, Bello Matawalle, had challenged the EFCC to search his property over allegation that a “humongous amount of money for laundering through cash payment of salaries,” had been discovered in one of his residences.

Matawalle made the offer in a statement issued by Alhaji Ibrahim Dosara, commissioner for information.

READ ALSO:

However, Bawa urged the citizens to partner with the commission in exposing corrupt politicians hiding huge amounts of cash for selfish motive.

”We are monitoring everything, Nigerians are helping. Well, I don’t want to give you the figures so that you will not go and speculate whether they are in the north or in the south, but it’s important that Nigerians key into it.”

He said also praised the new naira redesigning project, describing it as a significant process in the country’s fight against financial crimes and other forms of corruption.

According to him, the huge amount of the country’s currency that has left the hold of Central Bank of Nigeria (CBN) makes trailing financial crimes difficult.

He noted that naira redesign would be an opportunity for the government to regain control over flow of cash in the country.

“You know that there is an obligation of money laundering law that we have, in which an individual is expected to carry out a transaction that is above N5 million naira, through the financial institution.

”There is also the threshold in which a corporate entity is expected to carry out transactions that is above N10 million in the financial sector and why is it so?

READ ALSO:

”It is so because financial institutions are expected to be making currency transaction reports, and suspicious transaction reports to relevant agencies. With that, institutions like us will be able to monitor which funds are legitimate and which ones are not.

“Here we are now, in which 85% of our currency is out in circulation and people are carrying out transactions above the thresholds as provided for by this provision over and above that we will not be able to monitor, we don’t know what they’re doing,” he said.

According to Bawa, these are the transactions that are creating and giving avenue to other forms of crime, including payment of ransom, banditry, bribery and other illicit financial flows.

“So, we are happy with this naira redesign in the sense that it will give the Central Bank an opportunity of going back to square one, by the time they collect all these monies back to their system, then they are going to control the money that they are going to release to the system.

“Then, of course, once the monies are back within the financial institution, it will help to further boost economic activities in the sense that there will be more money for people to borrow.

SUN

metro

Police dispel rumour of sexual assault victim as Seyi Tinubu’s sister

Published

on

FCT Police Command Spokesperson, SP Adeh Josephine

Police dispel rumour of sexual assault victim as Seyi Tinubu’s sister

The Federal Capital Territory (FCT) police command has clarified that a sexual assault case involving Ebunoluwa Fatoyinbo is not connected to the family of President Bola Tinubu.

This clarification comes after widespread social media reports claimed Fatoyinbo is the sister of Seyi Tinubu, the president’s son. According to the reports, Oscar Ilochi allegedly assaulted Fatoyinbo while she was exercising alone in a gym basement, prompting an investigation that includes reviewing the facility’s CCTV footage.

In a statement released on Wednesday, Josephine Adeh, the FCT police spokesperson, confirmed that the command has launched an investigation based on a formal complaint filed by Fatoyinbo. However, she emphasised that the police have not established any familial link between Fatoyinbo and the Tinubu family.

READ ALSO:

“The FCT Police Command is aware of a circulating publication on social media alleging that the Command has commenced an investigation into a case of sexual assault involving Miss Ebunoluwa, purportedly referred to as the sister of Mr. Seyi Tinubu, son of His Excellency, President Bola Ahmed Tinubu, GCFR,” the statement read.

“The Command wishes to clarify that a formal complaint of sexual assault was indeed lodged by Miss Ebunoluwa Mitchell Fatoyinbo against one Oscar Ilochi, a resident of the Apo Legislative Quarters, Abuja.”

Adeh urged the public, including media outlets and social media users, to verify information before publication and rely on official police channels for updates on ongoing investigations.

 

Police dispel rumour of sexual assault victim as Seyi Tinubu’s sister

Continue Reading

metro

Niger Gov Bago makes U-turn on dreadlocks ban after backlash

Published

on

Governor Mohammed Bago

Niger Gov Bago makes U-turn on dreadlocks ban after backlash

Governor Umar Bago of Niger State has reversed his controversial directive ordering the arrest of individuals with dreadlocks, following widespread backlash from the public and civil rights advocates.

Bago had earlier instructed security agencies to arrest anyone seen with dreadlocks across the state, linking the hairstyle to rising cult-related activities and insecurity, particularly in Minna, the state capital.

“Rascality in Minna: anybody that you find with a dreadlock, arrest him and barb his hair. From this moment, it’s fire for fire. Any attempt to harass any security officer is an attempt to harass the government of Niger State,” Bago had declared during a public address.

In addition to the dreadlocks directive, Bago also announced a 12-hour daily restriction on commercial motorcycles and tricycles, banning their operations from 6pm to 6am, as part of efforts to end violent crimes.

He also threatened to demolish any house found to be housing criminals or drug dealers, emphasising that his administration will “apply maximum force to restore order.”

READ ALSO:

The governor’s early statements, notably the one targeting people with dreadlocks, provoked widespread condemnation on social media and from members of the public, who accused him of encouraging discrimination and lacking a thorough understanding of effective crime-fighting techniques.

In response to the anger, Bago reaffirmed his position on Wednesday at a ceremony in Minna, declaring the Bola Ahmed Tinubu International Airport as an alternative to Abuja’s Nnamdi Azikiwe International Airport.

“Yesterday, we read a riot act on hooliganism, and people misconstrued our words for people who have dreadlocks. We don’t have a problem with dreadlocks, but we have a problem with the cult here with dreadlocks.

So, if you have dreadlocks and you have business, please come to Niger State,” Bago said.

The state governor went on to describe the backlash as “media propaganda” and reiterated that the enforcement efforts are targeted specifically at criminal groups.

He said, “We are only driving that cult that is becoming a menace in Niger State. Thank you.”

Bago insisted that law-abiding residents are not at risk, claiming that the crackdown is primarily directed at criminal elements who utilize “cult” insignia, such as dreadlocks, to conceal their operations and elude law enforcement.

Niger Gov Bago makes U-turn on dreadlocks ban after backlash

Continue Reading

metro

Cultists kill teen during anti-cultism walk in Lagos

Published

on

Lagos Police Public Relations Officer, CSP Benjamin Hundeyin

Cultists kill teen during anti-cultism walk in Lagos

A 16-year-old kid named Mustapha was killed by a stray bullet during a suspected cult clash in the Oyingbo area of Ebute Metta, Lagos State, on Monday.

Chronicle NG gathered that the incident happened during a peace walk sponsored by several young people to address escalating cult-related violence in the town.

It was reported that the walk had hardly ended when an argument erupted between them.

A resident, who talked to our correspondent on the condition of anonymity, claimed the fight escalated when a suspected cultist pulled out a pistol and shot indiscriminately, injuring Mustapha with a stray bullet.

READ ALSO:

Another resident told reporters that the teenager was not affiliated with any cult group.

“Mustapha just came out to support the walk. He was not part of any gang. He is a calm and respectful boy. He was taken to the hospital after the bullet hit him, but he died on the way,” the source said.

The incident was said to have caused chaos in the community, while the event ended abruptly.

Meanwhile, our correspondent reported that one of the organisers, who was struck by a gunshot, is in critical condition.

The Lagos State Police Public Relations Officer, SP Benjamin Hundeyin had yet to comment on the incident at the time of filing this report.

 

Cultists kill teen during anti-cultism walk in Lagos

Continue Reading

Trending