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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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Update : Tinubu Meets Plateau Victims, Cites Security Challenges, logistics, Announces 5,000 AI Surveillance Cameras, Says Onanuga
…says visit aimed at lasting peace, not symbolism
The Presidency has explained why President Bola Ahmed Tinubu addressed victims of the recent Plateau State attacks at the Yakubu Gowon Airport in Jos, citing logistical constraints and urgent security considerations that shaped the structure of his visit.
According to a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, the President’s decision followed a series of developments, including an extended bilateral meeting with Chadian President Mahamat Idriss Déby Itno and operational limitations at the Jos airport.
The Presidency said Tinubu had initially scheduled two engagements for Thursday: receiving the Chadian leader and proceeding to Iperu, Ogun State, but altered his itinerary after receiving a briefing from Plateau State Governor Caleb Mutfwang on the scale of the attacks.
“Overnight, the Presidential Villa made arrangements for the visit to Jos, with presidential assets quickly deployed,” the statement said, noting, however, that the Chadian President’s visit could not be postponed due to its strategic importance.
The bilateral meeting, which focused on strengthening regional security cooperation, reportedly ran longer than expected, delaying the President’s departure for Jos.
Upon arrival in Plateau State, further constraints emerged. The Presidency explained that the runway at the Jos airport lacks navigational aids for night operations, making it impossible for the President to travel into the city, about 40 minutes away, and return safely before dusk.
“As a result, state and federal officials agreed to bring representatives of the affected communities to a hall adjoining the airport, enabling the President to meet them promptly while adhering to flight restrictions,” the statement added.
Present at the meeting were top security officials, including the Minister of Defence, the Chief of Army Staff, and the Inspector-General of Police, who had earlier visited Rukuba, identified as the epicentre of the violence.
The President had also deployed a high-level team ahead of his arrival, including his Senior Special Assistant on Community Engagement, to undertake groundwork on security stabilisation and community relations.
Beyond offering condolences, Tinubu used the meeting to engage stakeholders on ending the protracted cycle of violence in Plateau State.
“The visit was not merely symbolic. It was a strategic, high-level engagement aimed at addressing the root causes of the decades-old conflict,” the statement said.
During the interaction, the President listened to victims and community leaders, assuring them of the Federal Government’s commitment to justice and lasting peace.
He also announced plans to deploy 5,000 AI-enabled surveillance cameras across the state to enhance monitoring, improve intelligence gathering, and aid in identifying perpetrators of violence.
Tinubu further invited community leaders to Abuja for expanded consultations aimed at developing sustainable solutions to the recurring crises.
The meeting, which was broadcast live, was described as solemn and reassuring, with the Presidency noting that it helped boost residents’ confidence in government efforts.
“President Tinubu achieved the purpose of his visit, despite attempts in some quarters to ridicule it. He sent a clear message that sustainable peace must be built with the people, not imposed on them,” the statement said.
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JUST IN: First Lady Secures N30.5bn Support from Dangote, NNPC, Governors for Food Bank
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…Private sector, states rally behind national fight against hunger
…Programme targets vulnerable households, children under six
By Bolaji Ogundele, Abuja
Nigeria’s private sector leaders and state governments on Thursday pledged over N30.5 billion in support of the National Community Food Bank Programme, a flagship initiative championed by the First Lady, Senator Oluremi Tinubu, to combat hunger and food insecurity across the country.
The pledges were announced at the official launch of the programme and inauguration of its Board of Trustees, drawing commitments from major corporate organisations, philanthropic foundations, and subnational governments.
Leading the pack, the Aliko Dangote Foundation, represented by its Managing Director and CEO, Zouera Youssoufou, on behalf of Africa’s richest man, Alhaji Aliko Dangote, committed N20 billion in-kind support over five years.
“It is an honour to stand here today on behalf of the organised private sector. This programme directly addresses food insecurity among vulnerable households, particularly children under six.
“Aliko Dangote Foundation will commit N20 billion in-kind support over the next five years on the provision of fortified and nutritious food products”, Youssoufou said.
She urged broader corporate participation, saying, “I would like to call on the entire organised private sector to actively support this programme,” adding that its success would deliver “a Nigeria where no child goes to bed hungry,” in line with “President Bola Ahmed Tinubu’s Renewed Hope Agenda.”
The Nigerian National Petroleum Company (NNPC) Limited also pledged N10 billion over five years, with Sofia Mbakwe representing the Group Executive Officer, Bayo Ojulari.
“This ceremony stands as a powerful testament of purposeful leadership by Her Excellency Senator Oluremi Tinubu,” Mbakwe said.
Highlighting the programme’s framework in partnership with the Bank of Agriculture, she added, “NNPC Limited is committing a starting sum of N10 billion to be disbursed over the five-year period.”
She assured that the company would “leverage our strategic partners and stands ready to work with you to ensure that this program delivers lasting and measurable impact.”
Also lending support, the Sir Emeka Offor Foundation pledged N500 million, announced by its representative, Chidioke James.
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“Today is not just about launching a fund. It is about launching hope. No society can truly prosper while hunger persists.
“We are very proud to stand with the mother of the nation, the First Lady. The founder has asked that I announce the commitment of 500 million.”
At the grassroots level, the Association of Local Governments of Nigeria (ALGON) pledged full institutional support for the programme, describing it as timely and critical.
Represented by Hamisu Mohammed, ALGON said local governments, as “custodian of the community and the masses,” view the initiative as “a signature legacy project.”
“This initiative comes at a critical time for food insecurity and rising cost of living. Local government fully appreciates grassroots-driven solutions,” he said, pledging “cooperation and partnership particularly in rural and underserved communities.”
Similarly, the Chairman of the Nigeria Governors’ Forum (NGF) and Governor of Kwara State, Abdulrahman AbdulRazaq, assured that state governments would provide substantial counterpart funding.
“Across our states, we see the pressure many households face in accessing affordable and nutritious food. More than one third of the children under five are stunted. This points to chronic undernutrition with lasting consequences for fiscal growth and development. This is not only a health issue, it’s a national issue,” he said.
He praised the First Lady’s “personal commitment” to tackling hunger and aligned the initiative with ongoing state-level nutrition interventions.
“The NGF stands ready to work closely with the federal government… I’ll confer with my colleague… we’ll present a counterpart fund that will closely align to what the Federal Government is donating,” he added, referencing the Federal Ministry of Health’s N17 billion pledge.
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BREAKING: Court Puts Off El-Rufai’s Bail Hearing, Sets New Date
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The Federal High Court in Kaduna on Tuesday adjourned the hearing of the bail application filed by former Kaduna State Governor, Nasir El-Rufai, till Wednesday.
The adjournment followed proceedings that took place under tight security, reflecting heightened public interest in the high-profile corruption trial.
Counsel for the ex-governor, Ukpong Akpan, confirmed the development shortly after the session but declined to give details.
“I’m sorry, I can’t talk now, we are in the middle of work. I have to go and file responses. The hearing of the bail application has been adjourned till tomorrow,” he said.
Shortly after the court rose, El-Rufai was escorted out of the premises by operatives of the Independent Corrupt Practices and Other Related Offences Commission in a white Hilux vehicle.
Earlier, the former governor had returned to court amid heavy security for the continuation of proceedings on his bail request.
The security arrangement mirrored the situation during his arraignment last week when he was first docked before the court.
El-Rufai is standing trial before Justice Rilwan M. Aikawa on a 10-count charge bordering on alleged conversion and possession of public property as well as money laundering.
He was brought to court after spending over a month in detention, a development that has continued to draw widespread attention across the country.
The court had earlier fixed March 31, 2026, for the hearing of all pending applications, including the bail request.
However, the anti-graft agency had on March 27, 2026, released him on compassionate grounds following the death of his mother, Hajiya Ummar El-Rufai, in Cairo, Egypt.
In a related development, the former governor was earlier on Tuesday arraigned before a Kaduna State High Court sitting in Kawo on separate charges.
At the State High Court, he was docked alongside one Amadu Sule on allegations ranging from abuse of office and fraud to intent to commit fraud and conferring undue advantage.
The charges, also filed by the anti-corruption commission, are separate from those before the Federal High Court.
After the proceedings at the State High Court, the commission moved El-Rufai to the Federal High Court within the same premises for continuation of proceedings.
With the adjournment, the hearing of the bail application is expected to resume on Wednesday.
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