Crime
Naira Redesign: 3 Serving Governors Under EFCC’s Watch List For Stashing Billions Of Naira In Their Houses – Bawa
Naira Redesign: 3 Serving Governors Under EFCC’s Watch List For Stashing Billions Of Naira In Their Houses – Bawa
Three serving state governors are being monitored over their moves to launder stashed billions of naira through table payment of salaries to workers, Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa said.
He said raid on Bureau De Change operators will be sustained, urging Nigerians to support the system, for the benefit of all.
In an exclusive interview with Daily Trust, the EFFCC chairman disclosed that some governors are all out devising means to launder money they stashed in houses. He said so far, they are closely monitoring three of them.
Bawa, who refused to disclose the identity of the three governors, however, said two of them are from the North, while the 3rd one is from the southern part of the country.
He said intelligence at the disposal of the commission, showed that the three governors have concluded plans to inject the money into the system through table payment of their state workers’ salaries.
“Let me tell you something, the Intel that I have yesterday and I would want you to take this thing very seriously. Already, some state governors that have some of this cash stashed in various houses and the rest are now trying to pay salaries in cash in their state,” he said.
Asked whether the commission would summon the governors, the EFCC chair said they are closely monitoring them.
He added that “I don’t know how they want to achieve that but we have to stop them from doing that. Well, we are working, they have not paid the salaries in cash yet but it is a very serious thing”, saying the move is against section 2 of the Money Laundering Prohibition Act.
“The law is very clear regarding cash transactions. Anybody that is to consummate any cash transaction as an individual, if it is not through a financial institution must not be above N5million and if it is above that it is criminal for you to engage in such transaction. And for corporate entities it is N10million.
“Yes, I agree the salaries are not up to that but why are you all of a sudden, and all along you have been paying people salaries through their bank accounts and now you want to pay them in cash, what are you trying to do? They will come under a lot of guises, they are trying to do verification of officers, that is what we have gotten,” he said.
The EFCC boss also confirmed the mad rush by some people to dispose of their stashed funds by buying property.
“We are aware of that. Even if you dispose of your property and you receive cash, for that cash to be of value to you after January 31, 2023, you have to take it to the bank; so what happened, are you coming to the bank with those millions? That is why we are working with the bankers and if you have this information let us know about it,” he said.
He said the raids of BDC operators would continue. This he said, is very important to protect the system against the laundering of stashed funds.
“They (BDCs) are very important in the sense that a lot of people that have this naira cash, will want to convert them to USD or other foreign currencies, that is why they are very important.
“And based on the known gullibility of these people (BDCs), they are willing to accept this cash from the owners of these monies and they are willing to depart with the foreign currencies that they have and so that is why they are very important and very critical to us in this project that we said to ourselves that we are going to do,” he said. When Bawa’s attention was drawn to the fact that the dollar was rising despite the EFCC raids, he said it is a function of demand and supply.
“The truth of the matter here is just a simple function of demand and supply, people are rushing this commodity not that they are going to use it for any meaningful business engagement but they are just rushing for it, just a store of value, that is what is happening.
“And what they say in economics is the higher the demand, the higher the price; so people are just seeing USD or other hard currencies just the way that they are seeing gold, to get it exchanged and store their value,” he said.
On why he met chief compliance officers of banks in Lagos recently, he said the parley was part of efforts to properly monitor the system and to seek their collaboration in respect of the likelihood of people bringing in their illegitimate funds back to the system.
“We knew a lot of people are hoarding these funds, it is with them and they will always find a way of trying to bring it back to the system.
“So, irrespective of what they use their cash for, whether they exchange it for dollars, whether they use it to purchase houses for those that are willing to accept cash, it has to eventually come back to the financial institution. So, irrespective of what you do, the banks are very important and critical in the sense that they are the end recipients of this cash.
“The owner of BDC must deposit the money he exchanged for the currency he did, the owner of real estate must also do the same and all of that. So, we sat down, we deliberated and we agreed on what to do. Everybody is happy about it,” he said.
He, however, urged Nigerians to be calm, saying “this (naira redesign) is just a routine thing that ordinarily CBN ought to have done after every eight years, the monies are going to be taken.
“All that the government is saying is come and deposit the money at no cost to you; that is just what is happening, nothing more than that. “How can you have an economy where you have 85 per cent of your currency out there when you are calling for a cashless society when we have a lot of means by which people can consummate their transactions? What are you hiding? These days, people hardly go to the banks, you can transfer your money here using your app, and you can transfer your money through ATM, POS, and all of that, so why keep the money? Why are you scared of going to the bank to say that you want to deposit your money? He queried.
Naira Redesign: 3 Serving Governors Under EFCC’s Watch List For Stashing Billions Of Naira In Their Houses – Bawa
Troops Arrest Suspected Gunrunners in Plateau State
By: Zagazola Makama
Troops of Operation Safe Haven (OPSH) have arrested two suspected gunrunners during a sting operation in Bokkos Town, Plateau State.
Intelligence sources told Zagazola Makama that the suspects, identified as Mr. Kenneth Mayas, 31, and Mr. Bulus Yilfo, 60, were apprehended at a hideout in White House Hotel on Friday while attempting to procure an AK-47 rifle for N1.45 million.
Both suspects hail from Forop District in Barkin Ladi Local Government Area of Plateau State.
During the operation, troops recovered the cash sum of N1.45 million from the suspects, who are believed to be part of a larger criminal syndicate.
The sources said the arrested suspects and the recovered money are currently in custody for interrogation, while efforts are ongoing to apprehend other members of the syndicate.
Troops Arrest Suspected Gunrunners in Plateau State
Illicit drugs: NDLEA strengthens airport operations as officers undergo advanced trainings
. Deploy new skills, tools across airports operations, Marwa charges officers
By: Michael Mike
Selected Commanders and officers of the National Drug Law Enforcement Agency, have undergone series of trainings in Advance Passenger Information System (API) and Passenger Targeting/ Intelligence Gathering as part of ongoing efforts to strengthen NDLEA’s operational efficiency at the country’s major airports.
According to the United Nations Office on Drugs and Crime, UNODC, which facilitated the trainings held in Abidjan, Côte d’Ivoire and Abuja, the workshops were designed to enhance the capacity of the Agency’s Commands at Airports to target and intercept high-risk passengers, cargo and mail, to help combat illicit drug trafficking. They will also help to facilitate communication and coordination between countries of origin, transit and destination in order to destabilise illicit cross-border flows and criminal networks.
While the Commander of the Murtala Muhammed International Airport, MMIA, Strategic Command of NDLEA, ACGN Usman Ali Wadar and his counterpart at the Nnamdi Azikiwe International Airport, NAIA, Abuja, CN Mohammed Ajiya participated in the six-day training in Abidjan, Côte d’Ivoire, 13 other officers drawn from the MMIA and NAIA Commands took part in the five-day training that held in Abuja. They are all expected to impact the knowledge and skills acquired during the sessions on their other colleagues.
The trainings were funded by the European Union, Australia, Canada, France, Japan, the Netherlands, Norway, the United Kingdom and the United States under the AIRCOP Airport Communication Project, implemented by the UNODC.
Chairman/Chief Executive Officer of NDLEA, Brig Gen Mohamed Buba Marwa (Rtd) commended the facilitators: Ms. Fabienne Russel of UNODC and Anderson Leme Siqueira of Brazilian Customs Administration for taking their time to be in Abuja for the training after the engagement in Abidjan.
He equally praised the two NDLEA Commanders and other officers who participated in the Abijan and Abuja training sessions for their interest and commitment. He charged them to immediately reflect the new skills and tools in their operations across the international airports in the country.
Femi Babafemi
Director, Media & Advocacy
NDLEA Headquarters, Abuja
Friday 20th December 2024 Illicit drugs: NDLEA strengthens airport operations as officers undergo advanced trainings
. Deploy new skills, tools across airports operations, Marwa charges officers
Selected Commanders and officers of the National Drug Law Enforcement Agency, have undergone series of trainings in Advance Passenger Information System (API) and Passenger Targeting/ Intelligence Gathering as part of ongoing efforts to strengthen NDLEA’s operational efficiency at the country’s major airports.
According to the United Nations Office on Drugs and Crime, UNODC, which facilitated the trainings held in Abidjan, Côte d’Ivoire and Abuja, the workshops were designed to enhance the capacity of the Agency’s Commands at Airports to target and intercept high-risk passengers, cargo and mail, to help combat illicit drug trafficking.
They will also help to facilitate communication and coordination between countries of origin, transit and destination in order to destabilise illicit cross-border flows and criminal networks.
While the Commander of the Murtala Muhammed International Airport, MMIA, Strategic Command of NDLEA, ACGN Usman Ali Wadar and his counterpart at the Nnamdi Azikiwe International Airport, NAIA, Abuja, CN Mohammed Ajiya participated in the six-day training in Abidjan, Côte d’Ivoire, 13 other officers drawn from the MMIA and NAIA Commands took part in the five-day training that held in Abuja. They are all expected to impact the knowledge and skills acquired during the sessions on their other colleagues.
The trainings were funded by the European Union, Australia, Canada, France, Japan, the Netherlands, Norway, the United Kingdom and the United States under the AIRCOP Airport Communication Project, implemented by the UNODC.
Chairman/Chief Executive Officer of NDLEA, Brig Gen Mohamed Buba Marwa (Rtd) commended the facilitators: Ms. Fabienne Russel of UNODC and Anderson Leme Siqueira of Brazilian Customs Administration for taking their time to be in Abuja for the training after the engagement in Abidjan.
He equally praised the two NDLEA Commanders and other officers who participated in the Abijan and Abuja training sessions for their interest and commitment. He charged them to immediately reflect the new skills and tools in their operations across the international airports in the country.
Illicit drugs: NDLEA strengthens airport operations as officers undergo advanced trainings
15 Boko Haram Fighters Killed in Fierce Supremacy Battle with ISWAP in Tumbum Kare
By: Zagazola Makama
A deadly clash of supremacy between rival terrorist factions has claimed the lives of 15 Boko Haram fighters, with five Islamic State West Africa Province (ISWAP) members sustaining injuries.
Intelligence sources told Zagazola Makama that the confrontation occurred when ISWAP launched a coordinated attack on Boko Haram fighters loyal to the Bakura Buduma faction.
The assault, aimed at asserting dominance, led to significant losses on the Boko Haram side, with ISWAP fighters seizing an undisclosed number of weapons during the confrontation.
The incident marks the latest in a series of violent infightings between the two groups, which have been engaged in a bitter rivalry over resources, territorial control, and influence in the Lake Chad region.
Sources said that the clashes have intensified in recent months as both groups seek to expand their foothold in the area with the Boko Haram faction already gaining upper hand against the ISWAP.
15 Boko Haram Fighters Killed in Fierce Supremacy Battle with ISWAP in Tumbum Kare
Nigeria to Boost Tourism and Cultural Sectors- Musawa
ONLY THE BEST OF THE BEST SHOULD DEFEND OUR NATION – CAS AT BMTC 44 PASSING OUT PARADE
I Am Pained Over Loss of Lives in Maitama, Okija Stampedes, says Women Affairs Minister
Roger Federer’s Shock as DNA Results Reveal Myla and Charlene Are Not His Biological Children
THE PLIGHT OF FARIDA
EYN: Rev. Billi, Distortion of History, and The Living Tamarind Tree
-
News9 months agoRoger Federer’s Shock as DNA Results Reveal Myla and Charlene Are Not His Biological Children
-
Opinions3 years ago
THE PLIGHT OF FARIDA
-
News9 months agoEYN: Rev. Billi, Distortion of History, and The Living Tamarind Tree
-
ACADEMICS10 months agoA History of Biu” (2015) and The Lingering Bura-Pabir Question (1)
-
Columns10 months agoArmy University Biu: There is certain interest, but certainly not from Borno.
-
Opinions10 months agoTinubu,Shettima: The epidemic of economic, insecurity in Nigeria
-
Opinions3 years agoPOLICE CHARGE ROOMS, A MINTING PRESS
-
National News10 months agoFraud and Mismanagement Rock INGO’s IDP Cash Assistance Effort in Bama
