Crime
EFCC Reaffirms Commitment To Economic Growth – Olukoyede
EFCC Reaffirms Commitment To Economic Growth – Olukoyede
EFCC reaffirms commitment to economic growth. The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede has reiterated his commitment towards using the anti-corruption fight to stimulate growth in the economy.
He stated this in Abuja on Thursday, April 3, 2025 while receiving the the Managing Director/Chief Executive Officer of Nigerian Export- Import, NEXIM Bank, Mallam Abba Bello who came on a courtesy visit to the corporate headquarters of the EFCC.
While expressing delight at the visit, Olukoyede noted that the mission of the EFCC and that of NEXIM Bank align in the area of stimulation of the country’s economic growth.
“We have shared mandates with your bank as an export-import promoting bank, which is to grow the economy. Doing that, you are promoting the economy and on our part, one of our mandates is to also use the instrumentality of the fight against corruption to grow the economy. So, from that perspective I believe we have a shared mandate”.
The EFCC boss lauded Bello’s leadership skills in steering NEXIM Bank away from insolvency to profit-making entities. “You deserve a round of applause for turning the institution around. To have done that is no joke at all. It’s a major responsibility because you have to deal with both external and internal factors.
Even changing the orientation of the people you met on ground, changing the system, the processes and all of that takes a lot. For you to have achieved that milestone, I think you need to be applauded and also be encouraged to do more”, he said.
While acknowledging that the Commission is not a debt recovery agency, Olukoyede disclosed that the Commission only steps in when debts verge on economic sabotage.
He pointed out that many cases of non-performing loans have underlining fraudulent content and the EFCC would stop at nothing to tackle such cases.
“We are careful of the way we come in, particularly when it comes to the issue of loan recovery. We look at the area of economic sabotage.
When somebody is granted a loan, particularly if the money is from the commonwealth or from investors’ resources in a bank and they divert the money or the money did not go to what it was meant for, obviously that is economic sabotage. More than 90% of the cases of bad loans have underlining fraud”, he said.
Earlier in his remark, Bello commended the EFCC for assisting his bank in handling several cases resulting from “abuse which was occasioned by all kinds of things, technical abuse of the process of lending money to beneficiaries of the bank.
So what we started doing was to see how we can redeem the situation. The EFCC helped us and played a leading role in the recovery of the monies that were given out fraudulently or without following due process”.
Commitment To Economic Growth
The NEXIM boss appealed to the EFCC to continue to assist his bank in the recovery of loans taken by former internal staffers of the bank.
He also sought collaboration with the Commission in the area of fraud prevention, especially “not allowing people to get into fraudulent activities and corruption; stopping those with virtual knowledge to engage in things that are unworthy. The EFCC has done a lot of engagement for those that are in that kind of business.
We can partner with the EFCC either as participants or stopping them from engaging in the fight on the bad side, we would be giving them an option to train and engage in the export value chain,” he said.
EFCC Releases Ex-AGF Malami After Hours Of Interrogation
EFCC releases ex-AGF Malami after hours of interrogation. He said he would return for further questioning.
The Economic and Financial Crimes Commission (EFCC) has released the former attorney general of the federation and minister of justice, Abubakar Malami, after hours of interrogation by the anti-graft team.
Mr Malami confirmed his release in his X account on Saturday. The former minister said that he had been released and scheduled for another meeting with investigators.
He said that the reality behind the “fabricated allegations” levelled against him would become clearer with time.
“In line with my undertaking to keep Nigerians updated on my invitation by EFCC, I give glory to Allah for his divine intervention. “The engagement was successful and I am eventually released while on an appointment for further engagement as the truth relating to the fabricated allegations against me continues to unfold.”
EFCC Releases Ex-AGF Malami After Hours Of Interrogation
The EFCC had summoned Mr Malami through a letter dated November 24, and signed by Sunday Ofen-Imu on behalf of its chairman, Ola Olukoyede.
The EFCC did not disclose the specific allegations for which Mr Malami was invited.
Kano NSCDC Nabs 11 Suspected Hoodlums With Dangerous Weapons
Kano NSCDC nabs 11 suspected hoodlums with dangerous weapons. According to Mr Idris-Abdullahi, the suspects were arrested on Wednesday at about 1:00 a.m.
The Nigeria Security and Civil Defence Corps (NSCDC), Kano State command, says it has arrested a gang of 11 suspected hoodlums found in possession of dangerous weapons in Mariri, Kumbotso Local Government Area.
This is contained in a statement issued on Friday in Kano by the command’s public relations officer, SC Ibrahim Idris-Abdullahi.
He listed the suspects as Idris Muhammad,20, Abubakar Shuaibu,24, Sagiru Hassan Yusuf, 25, Idris Muhammad Morata, 25, and Anas Rabiu, 23.
Others were Yahaya Muhammad, 29, Khalid Idris, 28, Muhammad Adamu, 19, Muktar Auwal Muktar ,22, Salim Muktar, 18, and Saifullahi Nuhu,18.
According to Mr Idris-Abdullahi, operatives of the command apprehended the suspects on Wednesday at about 1:00 a.m, armed with dangerous local weapons.
NSCDC
“The gang was on a rampage after attending a local traditional festival in Mariri area and were attacking residents and dispossessing them of their belongings.
“The gang also stormed a nearby NSCDC outpost in Mariri, attacked and left a staff fractured in the office” he said
Idris-Abdullahi listed the items recovered to include six cutlasses, swords and a pair of scissors.
He added that the command’s intelligence and investigation department had concluded investigations and the suspects would be charged to court.
Idris-Abdullahi quoted the state commandant, Mohammed Hassan-Agalama, as reaffirming the command’s commitment to tackling criminal activities, protecting critical national assets and safeguarding public peace in Kano State.
Lagos Police Nab 26 Over Counterfeit Currency, Adulterated Diesel
Lagos Police nab 26 over counterfeit currency, adulterated diesel. The police said N951,300 in counterfeit notes was recovered from the suspects’ premises during the raid.
The police command in Lagos has apprehended 26 suspects over counterfeit currency and adulterated diesel in the Eti-Osa and Lekki areas. The command spokesperson, SP Abimbola Adebisi, confirmed this in a statement on Friday.
She said the suspects were apprehended on Thursday afternoon during a joint operation conducted by police officers and officials of the Kick Against Indiscipline.
According to her, a total of N951,300 in counterfeit notes was recovered from the suspects’ premises during the raid.
The spokesperson said investigations revealed that four of the suspects were directly involved in the production and distribution of adulterated diesel and engine oil, locally known as ‘rice and beans’.
“The illicit product was sold to unsuspecting motorists across the area. Two other suspects were identified as suppliers of the adulterated petroleum products,” she said.
Police Arrests
Ms Adebisi said that police commissioner Olohundare Jimoh warned all criminally minded individuals to desist from their nefarious activities.
“CP Jimoh cautioned that anyone involved in acts that threaten public peace or economic stability will face the full weight of the law,” she said.
She assured residents that Lagos remains safe, reiterating that the command is in control of the security situation and has prioritised the safety and well-being of all residents.
She urged the public to provide credible and timely information that could assist the police in apprehending criminals and preventing crime.
“Public cooperation remains essential to sustaining the peace and security for which Lagos state is known,” she said.
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