We Are Equipped Enough to Tackle Newly- Emerging Financial Crimes, Says Olukoyede

The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede has disclosed that though newly-emerging crimes are evolving in the nation’s financial space, the EFCC is sufficiently equipped to confront and conquer them.
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He made this known at the inaugural Town Hall meeting of EFCC’s Zero Tolerance Club of the Ahmadu Bello University, Kongo Campus, Zaria.

Olukoyede, who was represented by Head, Economic Governance Section of the Kaduna Zonal Directorate of the EFCC, ACE II Sadiq Abubakar, in his the keynote address titled, “Following the Money: Legal Loopholes and the Fight Against Corruption in Nigeria,” noted that corruption was one of the biggest challenges confronting Nigeria and other developing countries. Corruption, he observed, “undermines public confidence, weakens institutions, discourages investment, and diverts resources intended for national development, affecting not only government institutions but also the quality of life of ordinary citizens.”

He assured the meeting that, though technology is making fraudsters to devise new schemes to ply their trade, the EFCC equally has modern investigative techniques and innovative enforcement strategies to fight them.
He reaffirmed the Commission’s commitment to advancing anti-corruption advocacies towards rooting out corruption, economic and financial crimes in the country.

Speaking on challenges, the EFCC boss identified delays in the criminal justice system as one of the major challenges in the fight against corruption, explaining that effective anti-corruption efforts require timely investigation, prosecution and adjudication. Prolonged legal proceedings, he noted, weaken cases and erode public confidence in the justice system. He called for the need to strengthen transparency, accountability, and enforcement mechanisms in the system to effectively address the issue of corruption in the country.

The dean, Faculty of Law of Ahmadu Bello University, Professor Salim Bashir Magashi, who represented the Vice Chancellor commended the engagement given the fact that it will help direct the students onto the path of integrity and discourage them from indulging in fraudulent acts.

Ola Olukoyede

The event also featured a debate by members of the Zero Tolerance Club on the topic, “Nigeria Urgently Needs a Specialised Anti-Corruption Court, Separate from Other Courts to Handle EFCC Cases.”

The staff adviser of the Zero Tolerance Club in the school, Bukar Suleiman disclosed that the club was established in the University out of the need to introduce accountability in the students’ union bodies.

He warned the students against engaging in acts of corruption, noting that such acts are capable of ruining their future.
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Trump’s Letter Will Not Save You From Voters, ADC Tells Tinubu

The African Democratic Congress (ADC) has reacted to the US President, Donald Trump’s purported letter to President Bola Tinubu, saying that the claimed endorsement by the American President will not save Tinubu from electoral defeat, and that celebrating a diplomatic communication from the President of another country only betrays the President’s “desperation for any form of validation.”
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In a statement signed by its National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC, Nigeria’s main opposition party, said the letter does not reflect the country’s worsening insecurity and ignores the painful reality that hundreds of women and children are still being held captive in Borno and Kaiama in Kwara State, while several communities in Benue and other parts of the country continue to live under constant fear.

The full statement read:

The African Democratic Congress (ADC) has noted the Presidency’s attempt to present President Donald Trump’s letter to President Bola Ahmed Tinubu as though it were a referendum on the state of the nation. It is not. While we hold the office and person of the President of the United States in high esteem, it is important to note that diplomatic correspondence between heads of state is a normal feature of international relations. Countries cooperate, leaders exchange views, and letters are exchanged.

What is apparent, however, is this administration’s desperation to seize upon any gesture of international recognition as proof of success at home. A letter from a foreign president, however well-intentioned, cannot substitute for the verdict of the Nigerian people. The true measure of any government is not what is written about it abroad, but what its citizens experience every day.

That is why the celebration surrounding this letter is difficult to understand. For the millions of Nigerians still living with the consequences of this government’s failures, President Trump’s communication changes nothing. It did not say that insecurity has been overcome or that Nigerians can once again travel freely, farm safely, and sleep without fear.

Indeed, it is telling that even as the Presidency chose to publicise President Trump’s letter, the United States Department of State’s travel advisory on Nigeria remained unchanged. While the Presidency celebrated what it regards as an endorsement from the White House, the official U.S. government advisory continued to place parts of Nigeria under Level 3 and Level 4 travel warnings, urging American citizens to reconsider travel because of crime, terrorism, civil unrest, kidnapping, and other security concerns.

We therefore wonder how correspondence from a government that designates several Nigerian states as “Do Not Travel” areas can be regarded as an endorsement. That advisory alone is a reminder that, whatever diplomatic courtesies may be exchanged between presidents, the international assessment of Nigeria’s security challenges remains far removed from the picture the Presidency is eager to paint.

The daily reality of Nigerians is shaped not by diplomatic correspondence, but by the guarantee that they can go about their lives without falling victim to violent crime or terrorism. On these defining issues, no letter offers relief, and no foreign commendation can replace the real protection of citizens.

For all intents and purposes, President Trump’s letter is simply communication between one president and another. It does not amount to an endorsement of this government’s overall performance, nor does it absolve the administration of its responsibility to confront the challenges that continue to weigh heavily on more than 200 million Nigerians.

ADC, Tinubu

The Tinubu administration would therefore do well to devote less energy to celebrating letters of courtesy from abroad and more to delivering measurable results at home.

Ultimately, Nigerians will not judge this government by the letters it receives from foreign capitals. They will judge it by whether it improved the lives of the people it was elected to serve.

SIGNED:

Mallam Bolaji Abdullahi
National Publicity Secretary
African Democratic Congress (ADC)
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EFCC Hands Over Recovered N108m To Company In Lagos

The Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission, EFCC, on Wednesday, July 22, 2026, handed over the sum of N108 million to a company, Greenwich Planet Sun King Nigeria Limited, in Lagos.
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The money, handed over in bank drafts, formed part of the funds recovered by the Commission in the course of an investigation into an alleged case of abuse of office, forgery, stealing and diversion involving two former employees of the company.

Investigation revealed that the suspects, Nkechi Gladys Megai, who is currently at large after fleeing to the United Kingdom, and Godson Eze, a former Chief Financial Officer, abused their positions by forging documents, creating fake invoices in the names of the company’s legitimate vendors, and diverting funds through fraudulent transactions carried out over a period of time.

The investigation also revealed that the fraudulent payments ran into several hundreds of millions of naira.

At Wednesday’s handover ceremony, the Acting Zonal Director of the Lagos Zonal Directorate 2 of the EFCC, Assistant Commander of the EFCC, ACE I Bawa Usman Kaltungo, reaffirmed the Commission’s commitment to ensuring that victims of economic and financial crimes obtain justice and, where possible, recover assets fraudulently obtained from them.

Kaltungo also disclosed that “efforts are ongoing to ensure that all persons connected with the fraud, including those who have fled the country, are brought to justice in accordance with the law.”

EFCC

The company’s legal representatives, while receiving the bank drafts, expressed appreciation to the EFCC for its painstaking investigation, professionalism and commitment to recovering the stolen funds.

They also assured the Commission that the recovered money would go a long way towards mitigating the losses suffered by the company.
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