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Naira Redesign: 3 Serving Governors Under EFCC’s Watch List For Stashing Billions Of Naira In Their Houses – Bawa

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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

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Troops intensify operations against terrorists in North East, arrest logistics suppliers, recover weapons

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Troops intensify operations against terrorists in North East, arrest logistics suppliers, recover weapons

By: Zagazola Makama

Troops of Operation Hadin Kai (OPHK), in collaboration with air components and local security stakeholders, have intensified clearance operations in the North East to deny Boko Haram and Islamic State of West Africa Province (ISWAP) terrorists freedom of movement and access to logistics.

Zagazola Makama report that the sustained onslaughts across Borno, Yobe, and Adamawa States have led to the arrest of several logistics suppliers, recovery of weapons and explosive devices, and the neutralisation of insurgents in ambush operations.

In one of the recent breakthroughs, troops in conjunction with members of the National Union of Road Transport Workers (NURTW) arrested two suspected terrorist collaborators at the Biu main market on July 10.

The suspects Isah Abdullahi, 45, and Abdullahi Mohammed, 35, both from Liya village in Biu Local Government Area of Borno State, were intercepted while attempting to collect suspected terrorist-bound supplies delivered from Kano to the Biu Motor Park.

Items recovered from them included a sack containing 13 pairs of military desert boots, 20 high-wattage 9-volt batteries, and five pairs of slippers, all labeled with Isah’s phone number as the recipient.

Similarly, on July 13, troops acting on intelligence and working with the Civilian Joint Task Force (CJTF), arrested a 65-year-old logistics courier, Shaibu Bulama, at the Damasak Motor Park in Mobbar LGA.

Bulama, a native of Alagarno village in Yunusari LGA of Yobe State, was found with a white Toyota pickup truck. The vehicle contained two bags of rice, two cartons of pesticide sprayers, five gallons of Premium Motor Spirit (PMS), and other assorted items hidden under the seats.

Meanwhile, in a targeted ambush on the same day, OPHK troops, alongside CJTF and local hunters, intercepted insurgents crossing between Ngoshe and Agapalwa in Gwoza LGA. One terrorist was neutralised while others fled, abandoning a bicycle and other supplies.

As part of the post-Operation Sand Fury exploitation in Malam Fatori general area, troops on July 13 discovered a partially buried corpse believed to be that of a terrorist. They also recovered an AK-47 rifle, magazine, and rounds of ammunition near an infiltration route used by insurgents along the fringes of Lake Chad.

In another key development, troops provided armed escort to over 3,000 Internally Displaced Persons (IDPs) returning to their ancestral homes in Darel-Jamel from Bama on July 13. The military says the secure return of the IDPs is a critical aspect of stabilisation efforts supported by the Borno State Government.

Also, on July 14, troops conducting farm patrols near Banki in Bama LGA were alerted by a local farmer who discovered an Improvised Explosive Device (IED) buried in his field. A joint Explosive Ordnance Disposal (EOD) team successfully detonated the IEDs, which included mortar and artillery bombs already primed for detonation.

The same day, another IED was uncovered by troops in Molai, along the Maiduguri–Damboa Road axis. The EOD team detonated the device and recovered pressure plates and batteries suspected to be used for future attacks.

Elsewhere, acting on credible human intelligence, troops laid ambush near a terrorist crossing route in Tinush, a remote settlement in Kalabalge LGA. During the engagement, troops recovered 3 AK-47 magazines, 6 rounds of 7.62mm special ammunition, 2 rocket-propelled grenade bombs, 57 rounds of PKM belted links, and a locally fabricated pistol.

In a related development, 16 family members of terrorists — including four adult females and 12 children — surrendered to troops in the Bama axis. Preliminary investigations indicated they fled from the Bakura Jega enclave, seeking safety from intensified military pressure.

In furtherance of logistics strangulation operations, troops on July 14 stormed Kudzum in Michika LGA of Adamawa State. During the raid, they recovered three motorcycles, 105 jerricans of PMS, and a tricycle believed to be part of the insurgents’ smuggling network.

A military source Zagazola that the combination of offensive clearance, ambush, counter-IED actions, and coordinated strangulation of terrorist logistics across the North East forms part of OPHK’s renewed strategy to degrade insurgent capabilities.

“These recent operations underscore the commitment of the Armed Forces to maintaining pressure on the terrorists and limiting their movement, logistics resupply, and capacity to threaten civilian populations,” the source said.

The military has assured residents of its determination to sustain the tempo of operations in synergy with state governments, community vigilantes, and international partners.

Troops intensify operations against terrorists in North East, arrest logistics suppliers, recover weapons

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Crime

One killed, two injured in cutlass attack in Niger community

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One killed, two injured in cutlass attack in Niger community

By: Zagazola Makama

The Niger State Police Command says it has launched an investigation into a brutal attack in Gidan-Mallam village, Mokwa Local Government Area, which left one person dead and two others critically injured.

Police sources told Zagazola Makama, that the incident occurred in the early hours of July 15 when unidentified assailants armed with cutlasses and sticks attacked three men Mohammed Maidaji, Abubakar Mani, and Mudasiru Halide along the Bokani-Madaji road.

Police sources said the victims sustained severe injuries and were rushed to the General Hospital in Mokwa, where Halide, unfortunately, died while receiving treatment.

His remains have been deposited at the hospital mortuary for autopsy.

One killed, two injured in cutlass attack in Niger community

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Crime

IPOB/ESN gunmen kill two in ambush on police team in Imo

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IPOB/ESN gunmen kill two in ambush on police team in Imo

By: Zagazola Makama

Suspected members of the proscribed Indigenous People of Biafra (IPOB) and its militant wing, Eastern Security Network (ESN), on Thursday launched a deadly attack on a police team on investigative duty at a fuel station in Mbaitoli Local Government Area of Imo State.

Zagazola understands that the incident occurred at about 2:45 p.m. at Umueze Junction, O.C Paul Fuel Station, where the officers had accompanied a complainant to follow up on an investigation.

According to sources, two motorcycles carrying armed men stormed the fuel station and opened fire on a black Lexus RX 330 vehicle conveying the officers and the complainant.

The Divisional Crime Officer (DCO 1), DSP Ndubisi Achazie, narrowly escaped the ambush, but Inspector Okechukwu Ezema sustained gunshot injuries and was rushed to the Federal Medical Centre (FMC), Owerri, where he was confirmed dead.

The complainant, died on the spot, and his body was deposited at Zander Mortuary, Mbaitoli.

The attackers also made away with the Lexus vehicle used by the victims, though no police firearm was reported missing.

A joint security operation involving the military, tactical police teams, local vigilantes, and hunters has been launched to track down the fleeing assailants.

The police have described the act as terrorism and reaffirmed their commitment to hunting down IPOB/ESN cells responsible for the attack.
End

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