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Breaking : EFCC’s Crackdown Target’s individuals and companies involved in Dollar speculation, hoarding, racketeering, and issuing foreign currency invoices

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….Agency arrests suspects in Lagos, PH, Kaduna

The Economic and Financial Crimes Commission (EFCC) yesterday joined the battle to halt further depreciation of the naira against the dollar.

The anti-graft agency said it had raised 14 special task forces to fish out culprits.

The anti-graft agency, which announced the arrest of many racketeers in Lagos, Port Harcourt and Kaduna, said each task force will operate from the agency’s 14 zonal commands.

It has also invited for questioning some proprietors of privately run varsities and higher institutions who charge fees in dollars.

The development came on a day the Association of Bureaux De Change Operators of Nigeria (ABCON) requested that the Central Bank of Nigeria (CBN) allow its members to resume dollar sales.

The naira exchanged yesterday for N1, 490/$ at the parallel market and N1, 418/$ in banks.

In a statement by its Head of Media and Publicity, Mr. Dele Oyewale, the EFCC said the task forces will ensure “the enforcement of extant laws against currency mutilation and dollarisation of the economy.”

“The task force, inaugurated by the Executive Chairman of the Commission, Ola Olukoyede, was raised to protect the economy from abuses, leakages and distortions exposing it to instability and disruption.”

The CBN frowns at the use of foreign currency as a medium of exchange in Nigeria.

In a statement by its erstwhile Director, Corporate Communications, Ibrahim Mu’azu, the apex bank drew attention to the consequences of contravening the provisions of the CBN Act of 2007.

According to the Act, “the currency notes issued by the bank (CBN) shall be legal tender in Nigeria…for the payment of any amount.”

The statement reads: “The attention of the Bank has been drawn to the increasing use of foreign currencies in the domestic economy as a medium of payment for goods and services by individuals and corporates.

“It has also been observed that some institutions price their goods and services in foreign currencies and demand payments in foreign currencies rather than the domestic currency (the naira), which is the legal tender in Nigeria.

“For the avoidance of doubt, the attention of the general public is hereby drawn to the provisions of the CBN Act of 2007, which states inter-alia: ‘the currency notes issued by the Bank shall be legal tender in Nigeria…for the payment of any amount’.

“Furthermore, the Act stipulates that any person who contravenes this provision is guilty of an offence and shall be liable on conviction to a prescribed fine or six months imprisonment.

“This prohibition, however, is without prejudice to foreigners, visitors and tourists who are encouraged to continue to use their cards for payments or exchange their foreign currency for local currency at any of the authorised dealers’ outposts.

“The general public is hereby advised to report any contravention of the provision of this Act to the Economic and Financial Crimes Commission (EFCC) and the Central Bank of Nigeria (CBN) for appropriate action.”

Although the EFCC was silent on the number of those arrested, it said some suspects have been undergoing interrogation.

The statement added: “Already, the commission has arrested some perpetrators of issuance of invoices in dollars and mutilation of the naira in Lagos and Port Harcourt.

“Also, proprietors of private universities and other institutions of higher learning charging fees in dollars have been invited by the commission.

“The commission is committed to the enforcement of all laws in place for the reflation and stimulation of the economy.”

In a separate statement, the EFCC said its operatives in the Kaduna Zonal Command arrested three persons in connection with suspected currency racketeering.

It listed the suspects as Musa Gideon, Abdul Seidu Adamu and Justine Musa.

They were arrested yesterday on Yakubu Gowon Way, Kaduna while trying to “sell new naira notes to an EFCC’s undercover operative”.

“The operative, a member of the special task forces set up for the enforcement of extant laws against currency mutilation and dollarisation of the economy, functioned in a sting operation carried out by the team.

“The operation yielded the arrest of the three suspects selling new and old naira notes to the tune of N1, 307,400 and in possession of many Automated Teller Machine (ATM) cards.

“The suspects would be charged to court as soon as investigations are concluded,” the EFCC statement said.

Also the Association of Bureaux De Change Operators of Nigeria (ABCON) has requested that the CBN should allow its members to resume dollar sales.

It said dollar distribution at the retail end of the market would recommence if the proposals it submitted yesterday to the CBN were approved.

The association also proposed the return of the self-regulatory status of ABCON by the apex bank. This, according to the association, will ensure compliance by its members with regulatory guidelines.

President of the Association, Aminu Gwadabe, said the BDCs would also partner with International Money Transfer Operators (IMTOs) to ensure the economy attracted more forex proceeds to deepen market liquidity.

The CBN had in July 2021 stopped forex sales and issuance of new licences to prospective BDCs after its Monetary Policy Committee two-day meeting in Abuja.

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Ozekhome Ordered to Stop Using SAN Rank Amid Forgery Allegations

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Senior Advocate of Nigeria (SAN), Mike Ozekhome, has been barred by the Legal Practitioners’ Privileges Committee (LPPC) from further parading or referring to himself with that title pending the conclusion of ongoing disciplinary proceedings and other cases involving him.

“This action was taken pursuant to Paragraph 26(6) of the Guidelines for the Conferment of the Rank of Senior Advocate of Nigeria and All Matters Pertaining to the rank, pending the final determination of the disciplinary proceedings, presently before the Disciplinary and Ethics Sub-Committee of the LPPC and other proceedings.

“Accordingly, Chief Mike Ozekhome shall refrain from parading himself, presenting himself, or otherwise holding himself out as a Senior Advocate of Nigeria pending the final determination of the disciplinary proceedings,” the LPPC said in a statement issued on Wednesday evening by its Secretary, Kabir Akanbi.

Besides the “disciplinary proceedings” which the LPPC said are pending before its Disciplinary and Ethics Sub-Committee, Ozekhome and another defendant, Ponfa Useni, are currently being prosecuted before a High Court of the Federal Capital Territory (FCT) in Maitama.

Ozekhome and Useni are being prosecuted by the office of the Attorney General of the Federation (AGF) for, among others, allegedly forging documents, including an international passport and an irrevocable power of attorney, and engaging in impersonation to lay claim to a property in London allegedly acquired unlawfully by the late Jeremiah Useni, former Minister of the FCT.

Alleged forgery: Court AGF takes over Ozekhome’s case from ICPC
Fed Govt charges Ozekhome with forgery over UK property
The statement by Akanbi read, “The Legal Practitioners’ Privileges Committee (LPPC), at its 173rd general meeting held on 23rd June 2026, approved the suspension of Chief Mike Ozekhome, from the rank of Senior Advocate of Nigeria.

“This action was taken pursuant to Paragraph 26(6) of the Guidelines for the Conferment of the Rank of Senior Advocate of Nigeria and All Matters Pertaining to the rank, pending the final determination of the disciplinary proceedings, presently before the Disciplinary and Ethics Sub-Committee of the LPPC and other proceedings.

“The suspension is intended to safeguard the integrity, dignity, and prestige of the rank of Senior Advocate of Nigeria, while due consideration is given to the matters under review.

“Accordingly, Chief Mike Ozekhome shall refrain from parading himself, presenting himself, or otherwise holding himself out as a Senior Advocate of Nigeria pending the final determination of the disciplinary proceedings.

“The LPPC remains committed to upholding the highest standards of professional ethics, integrity, and discipline within the legal profession and to ensuring that the rank of Senior Advocate of Nigeria continues to command public confidence and respect.”

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Update : UK Lauds Nigeria’s Recovery Under Tinubu, Urges Others to Learn

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The United Kingdom (UK) has commended the economic reforms being implemented by President Bola Ahmed Tinubu’s administration, describing Nigeria’s ongoing recovery as a success story that other countries can draw inspiration from.

The UK National Security Adviser, Jonathan Powell, made the remarks on Tuesday at the opening of the 4th UK-Nigeria Security and Defence Partnership Dialogue, held at Nigeria’s Office of the National Security Adviser in Abuja.

Powell said the reforms had required difficult decisions but were beginning to yield tangible results in economic growth and recovery.

“The economic reforms undertaken by the government have not been easy, but the remarkable progress Nigeria is making today in terms of growth and economic recovery demonstrates that difficult decisions can produce significant results. It is a success story from which many can draw inspiration,” he said.

The UK official described Nigeria as an “African superpower” whose influence and strategic importance would continue to grow as its population, capabilities and economic strength expand.

“For the United Kingdom, Nigeria is a vital partner—our foremost partner in Africa. Nigeria is an African superpower, a nation that is already influential and one whose importance will continue to grow,” he said.

According to Powell, the UK has strong confidence in Nigeria’s future and remains committed to deepening bilateral relations through a partnership founded on mutual respect, shared objectives and practical outcomes.

“We want that relationship to be a mature and equal partnership, one in which we share strategic objectives and work together to deliver tangible outcomes.

“We have immense respect for Nigeria’s leadership role within the country, across the region and throughout Africa, and we are committed to supporting that leadership,” he added.

Powell also acknowledged the professionalism and dedication of Nigeria’s security services in addressing the country’s security challenges, stressing that Nigeria remains indispensable to regional stability and collective security.

“Nigeria remains central and indispensable to regional stability and collective security. There is simply no substitute for Nigeria’s role in promoting peace and stability across West Africa and beyond,” he said.

He expressed satisfaction with the continued success of the UK-Nigeria Security and Defence Partnership Dialogue, describing it as a cornerstone of the two countries’ growing security cooperation.

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El-Rufai Confesses to Intercepting NSA Communications

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A Federal High Court in Abuja yesterday heard that former Kaduna State Governor Nasir El-Rufai admitted, in a television interview, that he intercepted the phone conversations of the National Security Adviser (NSA), Nuhu Ribadu.

The second prosecution witness in El-Rufai’s ongoing trial, Deji Adeyanju, told the court that he was at the same television station, awaiting his turn to be interviewed on February 16, the day El-Rufai allegedly made the administration on the same station.

Led in evidence by the prosecution’s lawyer, Oluwole Aladedoye (SAN), the witness quoted El-Rufai as saying in the course of the television interview: “We listened to the conversations of the NSA.”

El-Rufai is being prosecuted by the Department of State Services (DSS) over his alleged contravention of the Cybercrimes (Prohibition, Prevention, etc) Amendment Act (2024) and the Nigerian Communications Act (2003) following his alleged interception of Ribadu’s phone conversations and compromising public safety, national security and instilling reasonable apprehension of insecurity among Nigerians.

Adeyanju, a subpoenaed witness, said he knew El-Rufai as a former governor of Kaduna State, adding that he issued a statement following reports that the former governor was to be arrested by security operatives.

Shortly after the television interview in which El-Rufai featured was played in the open court, Adeyanju confirmed it to be the one he saw in which the ex-governor allegedly admitted to the act.

Aladedoye also tendered a video recording of the interview featuring Adeyanju, which the court admitted.

Adeyanju said the DSS invited him after television interview and was asked to explain what happened while he was at the television studio.

The witness said he told investigators that he was present when El-Rufai made the statements on air and that when pressed further, in the course of the interview, the ex-governor said someone did the phone tapping and passed the information to him.

During cross-examination by El-Rufai’s lawyer, Paul Erokoro (SAN), Adeyanju said he did not hear El-Rufai specifically say he hacked Ribadu’s phone lines but that he heard him say, “We listened to the conversations of the NSA.”

When asked whether or not he knew the means through which the NSA makes calls and if he would be surprised to learn that DSS investigators did not ask the NSA which of his devices was allegedly compromised, the witness said those were not his business.

The prosecution tendered an official gazette without objection from the defence. Following this, the court admitted it in evidence.

Justice Joyce Abdulmalik has adjourned further hearing till today.

El-Rufai is facing a three-count charge.

* That you, Mallam Nasir El Rufai, adult, male, on February 13, 2026, while appearing as a guest on Arise TV station’s “Prime Time” programme in Abuja, within the jurisdiction of this court, did admit during the interview that you and your cohorts unlawfully intercepted the phone communications of the National Security Adviser, Nuhu Ribadu, and thereby committed an offence contrary to and punishable under Section 12(1) of the Cybercrimes (Prohibition, Prevention, etc) Amendment, Act, 2024.

* That you, Mallam Nasir El-Rufai, adult, male, on February 13, 2026, while appearing as a guest on Arise TV station’s “Prime Time” programme in Abuja, within the jurisdiction of this court, did state during the interview that you know and relate with certain individual, who unlawfully intercepted the phone communications of the National Security Adviser, Nuhu Ribadu, without reporting the said individual to relevant security agencies and thereby committed an offence, contrary to and punishable under Section 27 (b) of the Cybercrimes (Prohibition, Prevention, etc) Amendment, Act, 2024.

* That you, Mallam Nasir El-Rufai, adult, male, and other still at large, sometime in 2026, in Abuja, within the jurisdiction of this court, with others still at large did use technical equipment or systems which compromised public safety, national security and instilling reasonable apprehension of insecurity among Nigerians by unlawfully intercepting the phone communications of the National Security Adviser, Nuhu Ribadu, to which you admitted during an interview on February 13, 2026, on Arise TV station’s “Prime Time” programme in Abuja and thereby committed an offence, contrary to and punishable under Section 131(2) Nigerian Communications Act 2003.

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