Connect with us
The Economic and Financial Crimes Commission (EFCC) says it will continue to partner with the Independent National Electoral Commission (INEC) to curb vote buying, especially during the 2023 general elections.
The Chairman of the EFCC, Mr Abdulrasheed Bawa said this in an interview with journalists in Abuja on Thursday, shortly, after defending the commission’s 2023 budget before the Senate Committee on Anti Corruption.
“We will continue to do what we have to do, we are trying to ensure that illegitimate funds are not finding their way into our electoral processes,” he said.
Bawa said that the commission would partner with INEC to arrest and prosecute persons involved in vote buying.
The commission’s chairman said that cases of those arrested for vote buying in previous elections were ongoing in court.
Bawa also thanked the National Assembly for supporting the commission, via landmark legislations designed to further assist it to deliver on its mandate.
“I want to use this opportunity to thank the National Assembly for their support as EFCC Chairman, particularly the committee on anti corruption.
“They have been with us 100 per cent.
You remember recently they have worked with us to pass landmark Acts and legislations and the President has assented to it .
“So, we are working with them towards ensuring that this country is free of economic and financial crimes,” he said.
The EFCC chairman lauded the redesigning of naira notes by the Central Bank of Nigeria,(CBN), adding it was a welcome development.
“We welcome the policy; it is a good thing that the country is designing its currency, because how can you have an effective monetary policy when you don’t have control over 85 per cent of your currencies.
“Out there, people are holding it, people are using it to speculate on foreign currencies, and so coming out with this policy ,the government is trying to contend with it.
”
According to him, with the new policy, the commission will be able to monitor people holding currencies legitimately and illegitimately.
“I am sure that those people that are holding back this money whether legitimately or illegitimately, we will be able to monitor and the right cause of the law will take its course,” he added.
On fight against cybercrimes, Bawa urged youths to support the commission to rid the nation of cybercrimes and other criminal activities associated with cyberspace.
According to him, their activities are tarnishing the image of the country in the global arena.
Bawa revealed that as of Oct. 22, the commission succeeded in securing 2,847 convictions of cybercrime perpetrators.
“These are Nigerians from the youthful constituency, they should join me in fighting the scourge of Cybercrime.
“It is part of our mandate to fight cybercrime, to fight advance fee fraud,and we are working in conformity with the law.
“I am pleading with them not to stop doing such things at this time of transition of the country in terms of elections, in terms of government efforts to see that the economy is back on track,” Bawa added.
NewsSourceCredit: NAN
The Economic and Financial Crimes Commission (EFCC) has applauded the move by the Central Bank of Nigeria (CBN) to redesign and reissue higher denominations of the Nigerian currency, the Naira.
The CBN Governor, Godwin Emefiele, on Wednesday announced that the apex bank had obtained the approval of the Federal Executive Council to redesign and issue new N200, N500 and N1000 notes.
According to Emefiele, the new notes will come into circulation by Dec. 15, 2022 while the old notes will no longer be accepted after Jan. 31, 2023.
The EFCC Chairman, Mr Abdulrasheed Bawa hailed the move as “a well-considered and timely response” to the challenges of currency management in the country.
Bawa said in a statement issued by Mr Wilson Uwujaren, EFCC’s spokesperson on Wednesday in Abuja, that the challenges of currency management has negatively impacted the country’s monetary policy and security imperatives.
“The EFCC, the CBN and some other regulators in the financial sector have worked closely in the recent past to determine how best to stabilise the country’s monetary policy environment.
“It is heart-warming that the CBN has demonstrated courage in taking this bold decision which I believe will bring sanity to the currency management situation in Nigeria”, he said.
Bawa called on operators in the Nigerian financial services sector, especially deposit money banks and bureau de change operators, to work within the guidelines provided by the CBN to ensure seamless withdrawal of the old currency.
He warned that the EFCC would monitor the process to ensure that unscrupulous players and currency speculators and their cohorts among the BDCs do not undermine the exercise.
The EFCC chairman also charged banks to be alive to their reporting obligations and not assist unscrupulous customers in laundering proceeds of crimes through their system.
Bawa pointed out that the objectives of the CBN’s currency redesign and reissuance were in tandem with the provision of the Money Laundering Prevention Prohibition Act 2022.
The Act criminalises the conduct of cash transactions above a certain threshold.
ISection 2 (1) of the Act states that, “No person or body corporate shall, except in a transaction through a financial institution, make or accept cash payment of a sum exceeding N5,000,000 or its equivalent in the case of an individual or N10,000,000 or its equivalent, in the case of a body corporate.
”
He expressed optimism that the new currency measure would encourage more Nigerians to embrace banking culture and acceptance of cashless transactions.
Bawa recalled that the EFCC recently took operational action against currency hoarders in major commercial cities of Nigeria.
“It is therefore pertinent to issue this stern warning to Bureau de Change operators to be wary of currency hoarders who would attempt to seize this opportunity to offload the currencies they had illegally stashed away.
”
He noted that currency hoarders readily made their hoard available to criminal enterprise.
Bawa, therefore, said that the commission would spare no effort in bringing to book, any financial services operator who runs foul of extant laws and regulations.
NewsSourceCredit: NAN
The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Abdulrasheed Bawa, said that the commission had secured 2,781 convictions as at Oct. 24 on some persons arrested for various financial crimes.
Bawa stated this on Tuesday in Lagos during a one-day workshop on financial crimes’ reporting organised for some journalists by the commission.
The chairman, who spoke to the participants through the e-conference platform, said that the commission was happy and proud to have recorded such number of convictions, stressing that the commission was committed to making more arrests and convictions.
He said that assets running into several billions of naira had also been recovered by the Commission.
The commission’s boss said that the workshop was designed to further promote the ethos of journalism profession and also impart participants with proficiencies, particularly, in reporting financial crimes.
Bawa noted that the gathering was an evidence of the importance which the commission attached to the media as a partner in the fight against economic and financial crimes.
He pointed out that the role of the media in projecting the work of the EFCC over the last 19 years had been remarkable.
Bawa said that some of the financial crimes perpetrated could have been prevented if members of the public had the right information, stressing that it was for this reason that the commission was intensifying public enlightenment engagements with stakeholders.
He said in a few weeks’ time, the commission would witness the formal launch of its radio station.
“It is only fitting that we reciprocate your contributions by seeking to further expand your capacity to deliver this onerous national duty in expanding the space of transparency and accountability in our public life.
“Even with all the milestones recorded by the Commission since its inception, the EFCC has never been under the illusion that it can fight and win the war on corruption without the support of other stakeholders.
“As the fourth estate of the realm, the media has a constitutional responsibility to fight corruption and other forms of economic and financial crimes,” he said.
The EFCC boss called for greater collaboration and information sharing between the media and the Commission, stressing that journalists through their various contacts could gather information that would help the commission to serve the country better and faster.
On the forthcoming 2023 general elections, Bawa said that the commission was beaming it searchlights on some politicians.
He said the commission was also paying serious attention to the activities of some lawyers, car dealers, estate operators, precious stone dealers, accountants, construction companies amongst others, stressing that investigations revealed that they had become channels of money laundering.
The chairman urged journalists to get familiar with the new money laundering law so as not to run afoul of its provisions and to help educate other citizens.
“I am sure that most of us are aware of the legislative reforms that recently birthed the Money Laundering (Prevention and Prohibition) Act, 2022.
“There are certain provisions of this new law that I believe will affect you directly or indirectly.
One is secrecy of financial transactions.
“The new law criminalises the operation of numbered accounts and also mandates financial institutions to ascertain the beneficial owners of accounts before opening such accounts,” he noted.
The News Agency of Nigeria reports that participants were drawn from the crime, the judiciary and the financial beats.
Papers were presented on the challenges of prosecuting economic and financial crimes in Nigeria, best practices in financial crimes’ reporting and peculiarities, trends, typologies and the challenges of cybercrimes’ enforcement in Nigeria.
NewsSourceCredit: NAN
The Police Command in Kwara has pledged to work more closely with the Economic and Financial Crimes Commission (EFCC) to tackle illegal mining activities in the state.
The Commissioner of Police in the state, Paul Odama made the pledge when he paid a courtesy visit to the EFCC Zonal Command on Friday in Ilorin.
Odama said that the collaboration was necessary to decisively deal with all economic saboteurs in the state.
The commissioner of police, who recently assumed duty, commended the bold steps being taken by the EFCC to curb illegal mining activities in Kwara.
“I was amazed when I saw some of the impounded trucks on my way to your office this morning, and I said to myself that EFCC is doing a wonderful job.
“We will collaborate with you in tackling the menace of illegal operators who are mining the mineral deposits in the state for personal enrichment.
“It is a criminal offence under the law, it is indeed, an act of economic sabotage”, Odama said.
He said that the visit was to strengthen existing collaboration between the Police and EFCC particularly in the area of fighting economic and financial crimes.
He said that the collaboration would enhance peace and security across the state.
According to him, the police and EFCC have come a long way in building good working relationship over the years.
“We are a family.
I can assure you that we will provide you whatever you require operationally or in any other capacity to stamp out corruption which has stagnated the progress of our country, he added.
In his response, the EFCC Zonal Commander, Michael Nzekwe, appreciated the police commissioner for the visit and the police command’s support and contributions to EFCC’s operations.
Nzekwe described the police as a pillar of support to the commission, adding that enhanced collaboration between the two organisations would help to curb economic and financial crimes.
“We appreciate the Nigeria Police for the support and contribution it has rendered to the EFCC in discharging its duties over the years.
“We are grateful and we look forward to more of the working relationship”, he said.
According to him, the commission, recently arrested no fewer than 80 persons suspected of involvement in illegal mining activities.
Nzekwu added that about 24 truck loads of assorted minerals were impounded by EFCC operatives in different locations in the state.
www.
ng
NewsSourceCredit: NAN
An Ikeja Special Offences Court on Friday fixed Dec.6 for trial of of the former Attorney-General of Lagos State, Olasupo Shasore, SAN, charged with corrupt offers to public officers.
Shasore served as the Attorney-General of Lagos State and the Commissioner for Justice during the tenure of Mr Babatunde Fashola as the governor.
The News Agency of Nigeria reports that the Economic and Financial Crimes Commission (EFCC) charged the embattled senior lawyer on a two-count charge bordering on corrupt offers to public officers.
The defendant pleaded not guilty to the charge.
Following his not guilty plea, the EFCC Counsel, Bala Sanga, SAN, requested for a trial date to prove the allegation against the defendant.
Justice Mojisola Dada granted the defendant bail by releasing him to his counsel with a promise to undertake to present him at the next adjourned date.
Dada adjourned the case until Dec.6 for the commencement of trial.
Earlier, the prosecution alleged the defendant corruptly gave the sum of 100,000 dollars to one Mrs Olufolakemi Adelore, the Director Legal, Federal Ministry of Petroleum Resources on account of the role she played in the arbitral proceedings instituted by Process and Industrial Developments Ltd (P&ID) against the ministry.
It was also alleged that the defendant corruptly gave the sum of $100,000 to one Ikechukwu Oguine, Secretary to the Cooperation and Coordinator, (NNPC) on account of role he played in the arbitral proceedings instituted by P&ID against the ministry.
The defence counsel, led by Mr Yemi Candide-Johnson (SAN), applied for his bail on liberal terms or on self-recognizance, arguing that the defendant flight risk and that the alleged offences were bailable.
The prosecution did not object the bail application.
According to the prosecution, the offence contravenes the provisions of Section 9(1)(a)(b) of the Corrupt Practices and Other Related Offences Act, 2020. www.
ng
NewsSourceCredit: NAN
EFCC arraigned the former Attorney-General of Lagos State, Mr Olasupo Shasore (SAN) before an Ikeja Special Offences Court on Friday for alleged corrupt offers to public officers.
The News Agency of Nigeria reports that Shasore was also arraigned on Thursday before a Federal High Court, Lagos, on a four-count charge of money laundering.
NewsSourceCredit: NAN
A Federal High Court sitting in Ilorin on Thursday sentenced one Olasunkanmi Fapohunda to three years imprisonment over offences bordering on internet fraud.
Fapohunda, 23, a laundry man and an indigene of Ado-Ekiti in Ekiti State, was prosecuted on a count charge by the anti-graft agency, which he pleaded guilty to.
The charge against him reads:
“That you, Fapohunda Paul Olasunkanmi sometime in the month of August 2018 in Ekiti within the jurisdiction of the Federal High Court did fraudulently impersonate one Ethan Jones you’re your email [email protected]
com with intent to gain advantage for yourself and you did benefit $930.
“Thereby committed an offence contrary to Section 22 (2) (b) (i) of the Cybercrime (Prohibition, Prevention Act) 2015 and punishable under Section 22 (2) (b) (iv) of the same Act”.
The EFCC prosecutor, MrAndrew Akoja had earlier reviewed the facts of the case and urged the court to convict the defendant as charged.
In his judgment, Justice Muhammed Sani agreed with the prosecution counsel that the EFCC had proved its case beyond reasonable doubt thereby convicting the defendant.
Sani sentenced Fapohunda to three years imprisonment with option of fine to the sum of N400,000.
The judge also ordered that one iphone 12 promax, apple iphone 6, macbook laptop, Benz CLA 250 and the sum of $930 which he raised as restitution be forfeited to the Federal Government.
According to the EFCC, operatives of the zonal command on Ap
NewsSourceCredit: NAN
By Umeh Sandra
EFCC arraigns former Attorney General of Lagos State
A former Attorney General of Lago State, Mr Olasupo Shashore, was on Thursday arraigned before a Federal High Court Lagos on a four-count charge of money laundering.
He, however, pleaded not guilty to all counts.
Details shortly….
NewsSourceCredit: NAN
A Federal High Court sitting in Ilorin on Wednesday sentenced a 29-year-old Chinese national, Gang Deng, to five years imprisonment over offences bordering on illegal mining and possession of crude minerals.
The Ilorin Zonal Command of the Economic and Financial Crimes Commission (EFCC) secured the conviction after arraigning Deng alongside his company, Sinuo Xinyang Nigeria Ltd, before the court.
Justice Muhammed Sani in his judgment sentenced Deng to five years imprisonment with an option of fine in the sum of N1 million.
Sani also ordered that the 25 tons of the mineral recovered from him at the point of arrest be forfeited to the Federal Government.
The charge against Deng reads:
“That you Sinuo Xinyang Nigeria Ltd and Gang Deng, sometime in the month of September 2022 at Share, along Tsaragi Road in Edu Local Government Area of Kwara State, within the jurisdiction of the Federal High Court, without lawful authority purchased mineral to wit.
“25 tons of mineral worth the sum of N2,490,000.00 conveyed in a DAF TRUCK, with Registration Number KLRAD85XCOE603462, and thereby committed an offence, contrary and punishable under Section 1 (8) (b) of Miscellaneous Offences Act 1984.”
The defendant pleaded guilty on one count amended charge read to him, but entered “not guilty plea” for his company.
Upon his plea, counsel to the EFCC, Innocent Mbachie, reviewed the facts of the case and tendered documents, which were admitted in evidence.
Mbachie urged the court to convict the defendant as charged.
Sani, in passing judgment, said that mining without licence is a criminal offence under the law.
“It is an act of economic sabotage, punishable under Section 1 (8) of the Miscellaneous Offences Act, which stipulates life imprisonment for offenders,” he said.
The judge however considered the allocutus made by Deng’s counsel, who pleaded for clemency on the grounds that the convict was a first offender and a responsible citizen.
The court thereafter adjourned to Nov. 17, for further hearing in the case of the convict’s company, Sinuo Xinyang Nigeria Ltd, to which he pleaded not guilty to the amended charge.
NAN recalls that Deng was arrested along Tsaragi Road in Share, Edu Local Government Area of Kwara, on Sept. 9, by the Ilorin Zonal Command of the EFCC.
He was found to be in possession of 25 tons of crude minerals suspected to be lepidolite.
Lepidolite is a raw material usually transported to China for production of batteries for vehicles, cell phones, cameras and other electronic devices.
NewsSourceCredit: NAN
The trial of former Governor of Adamawa, Muritala Nyako and his son, Abdulaziz, charged with alleged N29 billion money laundering was on Tuesday stalled due to the absence of defence counsel, Mr Kanu Agabi, SAN.
Nyako, his son and other co-defendants are being tried by the Economic and Financial Crimes Commission (EFCC) on alleged money laundering to the tune of N29 billion.
At the resumed hearing of the case at the Federal High Court, Abuja, Counsel to the EFCC, Mr Rotimi Jacobs, SAN decried the absence of Agabi in court saying it was a deliberate ploy to frustrate the trial.
Jacobs recalled that since after the court ruling dismissing their no- case submission, the 1st and 2nd defendants had been exhibiting unwillingness to open their defence.
“The absence of the lead counsel to the 1st and 2nd defendants is deliberate and orchestrated to frustrate the trial.
“After the ruling on their no-case submission, the court had adjourned the case to March 9,10 and 11 for them to open their defence.
“The three days were however, vacated at the instance of the defendants.
The court then adjourned the case until June 20th to 24th at the instance of the defence.
“On those five days, Agabi wrote a letter to the court to the effect that he wanted to travel abroad and that he wanted to handle the case personally.
“This court graciously bent backwards and granted the adjournment and fixed today, Oct. 18, 19 and 20 but here we are today, that a party to which the court vacated eight days of trial is not ready to proceed.
“My Lord I submit that they have exhausted their right of adjournment but I however, ask the court to give them one more adjournment.
“If they fail to appear in court on the next adjourned date, the court should close their defence,” Jacobs said.
Other defence counsel did not object to the application for adjournment.
In his ruling, the trial judge, Justice Okon Abang agreed with the prosecutor that the absence of the defence counsel had frustrated the day’s proceedings.
However, with the agreement of counsel, the judge adjourned the matter until Wednesday for the defendants to open their case.
www.
ng
NewsSourceCredit: NAN
