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Breaking : EFCC’s Crackdown Target’s individuals and companies involved in Dollar speculation, hoarding, racketeering, and issuing foreign currency invoices
….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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JUST IN: Court Nullifies Atiku’s Candidacy, Sacks Mark-Led ADC NWC Ahead of 2027 Elections
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*Says ADC’s leadership that produced him, other candidates illegal
A Federal High Court in Abuja has nullified the process that led to former Vice President Atiku Abubakar’s emergence as the African Democratic Congress (ADC) presidential candidate for next year’s presidential election. FollowPolitics
In a judgment on Thursday, Justice Peter Lifu also voided the emergence of former Senate President David Mark, ex-Governor of Osun State Rauf Aregbesola, and others as ADC national officers.
Justice Lifu also voided the nominations of all ADC candidates for the 2027 general elections, holding that they emerged from the ADC’s illegal and unlawful leadership.
The judgment was delivered in a suit brought by an aggrieved ADC Deputy National Chairman, Nafiu Bala Gombe.
The judge upheld Gombe’s contention that David Mark and Rauf Aregbesola emerged as party leaders through an unlawful and illegal process.
Justice Lifu set aside all actions taken by the Mark-led leadership in the name of ADC, holding that they were unlawful.
Details shortly…
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Breaking : End of an Era: Five-Time Ballon d’Or Winner Cristiano Ronaldo Retires from International Football at 41
Portuguese Legend Bows Out After 23 Years, 146 Goals and 234 Appearances for Portugal
Portuguese football superstar Cristiano Ronaldo has announced his retirement from international football at the age of 41, bringing an end to an illustrious 23-year career with the Portugal national team.
The five-time Ballon d’Or winner made the announcement on Thursday, November 5, 2026, through an emotional video message shared on his social media platforms.
Ronaldo, widely regarded as one of the greatest footballers of all time, said the time had come to hand over Portugal’s iconic No. 7 shirt to the next generation of players.
The former Real Madrid, Manchester United and Juventus forward retires from international football as the highest goalscorer in men’s international football history, with an outstanding record of 146 goals in 234 appearances for Portugal.
His international journey began in August 2003, when he made his senior debut for Portugal as an 18-year-old. Over the following 23 years, he became the country’s most recognisable football figure and one of the most influential captains in the history of the national team.
One of the greatest moments of his international career came in 2016, when he captained Portugal to its first-ever UEFA European Championship title.
Portugal defeated host nation France 1-0 after extra time in the final, despite Ronaldo being forced off the pitch through injury in the first half. His leadership and encouragement from the sidelines remained an important part of the historic victory.
He also helped Portugal win the UEFA Nations League in 2019 and 2025, bringing his major international trophy haul with the country to three.
In his farewell message, Ronaldo reflected on his remarkable journey, describing wearing Portugal’s No. 7 shirt for 23 years as a privilege and responsibility.
He said the decision was not easy because it involved both his head and his heart, adding that it was time to pass the responsibility to the next generation.
Ronaldo leaves behind extraordinary records, including the most international appearances and goals in men’s football. He also became the first male player to score at six different FIFA World Cup tournaments.
Beyond his international achievements, the five-time Ballon d’Or recipient enjoyed a remarkable club career, winning multiple domestic league titles and five UEFA Champions League trophies.
His retirement marks the end of a significant chapter in Portuguese and world football, with his achievements, leadership, goalscoring records and commitment to his country likely to remain an inspiration to future generations.
Although he has ended his international career, Ronaldo’s legacy as one of football’s greatest-ever players remains firmly established.
Portugal will now look towards a new generation of players to carry forward the legacy of its legendary No. 7.
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After Umrah, Tinubu Bids Farewell to Saudi Arabia, Returns to Abuja, Says Onanuga
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… Prays for Nigeria’s peace, unity, security, prosperity
… Holds farewell meeting with Makkah Deputy Governor
President Bola Ahmed Tinubu departed Saudi Arabia for Abuja on Wednesday after completing his Umrah pilgrimage in the holy city of Makkah, where he offered special prayers for Nigeria’s peace, security, unity and prosperity.
The President’s aircraft took off from the Royal Terminal of King Abdulaziz International Airport, Jeddah, at exactly 5:13 p.m. Saudi time, bringing his spiritual visit to the Kingdom to an end.
According to a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, Tinubu was seen off at the airport by the Deputy Governor of Makkah Region, Prince Saud bin Mishaal bin Abdulaziz Al Saud; Nigeria’s Ambassador to Saudi Arabia, Yakubu Gambo; and the Consul-General, Ambassador Muazam Ibrahim Nayaya.
Before his departure, the President held a brief farewell meeting with the Deputy Governor of Makkah at the Royal Guest Palace within the airport.
Tinubu, who arrived in Saudi Arabia last Thursday, led members of the Nigerian delegation in performing the Umrah rites, including circumambulation of the Holy Ka’abah.
A major highlight of the pilgrimage was Sunday’s rare opportunity granted to the President and members of his delegation to enter the sacred Ka’abah, where they performed two raka’at prayers.
During the spiritual exercise, Tinubu offered supplications to Almighty Allah for enduring peace, improved security, national unity and economic prosperity, while seeking divine wisdom, guidance and strength to discharge his responsibilities to Nigerians. Nigerianews subscription
He also prayed for divine blessings upon the country, its leaders and citizens, expressing hope that Nigeria’s ethnic, religious and cultural diversity would become a source of national strength, cohesion and shared prosperity.
The President described the pilgrimage as an opportunity for spiritual reflection, thanksgiving and renewed dedication to the task of building a peaceful, united and prosperous Nigeria. Nigerianews subscription
He expressed appreciation to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and Crown Prince Mohammed bin Salman for the hospitality and special courtesies extended to him and his delegation.
Tinubu particularly acknowledged the rare privilege of accessing the Holy Ka’abah, describing the opportunity to pray within the sacred structure as spiritually significant. FollowPolitics
According to the statement, the President concluded the pilgrimage with renewed faith, gratitude to Almighty Allah and a strengthened resolve to pursue his administration’s Renewed Hope Agenda.
Onanuga said Tinubu remained committed to translating Nigerians’ aspirations into tangible improvements in living conditions and building a better country for all. Nigerianews subscription
The presidential delegation included the National Security Adviser, Mallam Nuhu Ribadu, and the governors of Sokoto, Jigawa, Kaduna, Borno and Yobe states, among other senior government officials.
The President’s return concludes a visit that combined religious observances with prayers for national stability, improved security and the success of ongoing efforts to reposition Nigeria for sustainable growth and development.
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