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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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Kwara police intercept illegal firearms, arrest four suspects

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Kwara police intercept illegal firearms, arrest four suspects

By: Zagazola Makama

Police in Kwara state have intercepted a cache of illegal firearms and arrested four suspects during a routine stop-and-search operation along Sabongida Road.

According to sources, on 11 December 2025 at about 0845 hours, operatives from Jebba Division apprehended Musa Mohammed and Musa Abdullahi, both residents of Saorami, Masegun LGA, Niger State.

The suspects were found in possession of six locally made AK-47 rifles, one pump-action gun, four cartridges, and one expended AK-47 round concealed inside a bag.

Interrogation revealed that the firearms were intended for delivery to two other suspects, Mohammad Umoru and Magin Isah of Shonga, who were subsequently arrested.

All four suspects have been handed over to the IRT operatives on special duties in Kwara State for further investigation.

Kwara police intercept illegal firearms, arrest four suspects

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Renewed violence in Otukpko as Fulani harder killed, over 20 cows slaughtered in Benue

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Renewed violence in Otukpko as Fulani harder killed, over 20 cows slaughtered in Benue

By: Zagazola Makama

Tension has been building up in Otukpo Local Government Area of Benue State following a disturbing wave of coordinated attacks that claimed the life of a Fulani herder and led to the killing of more than 20 cows across several communities, in a dangerous escalation of violence and a troubling sign of institutional failure.

Zagazola gathered that the incident, which occurred between Dec. 4 and 5, resonates across Ondo, Ogobia, Ugboju and Otukpo Nobi areas already struggling with periodic communal hostilities. What is raising even more concern is an allegation of compromised handling of a key suspect by a the security agency, a move that has angered community members and reverberated fears of further reprisals.

The crisis deepened on Friday, Dec. 5, when armed men from the Ondo community in Ogobia reportedly laid an ambush for a Fulani herder, Hassan Sule, popularly known as Alhaji Foder. Reliable local sources said the victim was riding a motorcycle with one of his labourers to check on his cattle when the attackers opened fire.
The labourer escaped with injuries, but Foder was shot dead instantly.

In the moments that followed, panic spread among Fulani families in the area, prompting them to alert troops of the Nigerian Army stationed at the Ogobia military post. The soldiers immediately mobilised and accompanied the herders to recover the body.

But, according to eyewitnesses, the attackers struck again. as the joint team advanced, gunmen allegedly launched a second ambush, believing only Fulani herders were approaching.

“The soldiers returned fire instantly and overpowered them,” a source familiar with the operation said. “One of the attackers was arrested alive and disarmed.” The arrest was expected to be a breakthrough in identifying the masterminds of the attacks — until events took an alarming turn.

The arrested suspect was handed over to the Divisional Police Officer (DPO) of Ogoli/Ogboju for interrogation. But in a move that has stunned both the Fulani community. It was reported that the DPO allegedly released the suspect less than an hour after receiving him.

The Fulani Leaders alleged that when community representatives questioned the rationale for the sudden release, the DPO dismissed their concerns, saying the military had “no right” to arrest and hand suspects to him, insisting he “knew how to do his work.”

The decision, described as reckless and provocative, further fuelled anger in the already charged environment.

The killing of the herder came barely 24 hours after a separate attack on Dec. 4, when armed youths from Otukpo Nobi allegedly invaded grazing locations and killed more than 20 cows belonging to Fulani herders. Several animals were also reportedly injured.

The Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), Benue State Chapter, confirmed the series of attacks, describing them as coordinated, unprovoked and aimed at instigating a wider crisis.

In a petition addressed to the Commissioner of Police, the association said: “These persistent and unprovoked attacks constitute a serious threat to peace, security and inter-community harmony.

“Our member, Hassan Sule, was killed in cold blood, and over 20 cows were slaughtered. Worse still, the suspect arrested by the Army was released without investigation.”

MACBAN demanded the immediate re-arrest of the released suspect, a full-scale investigation into the killing and destruction of livestock, and deployment of security personnel to prevent further attacks.

The association expressed anger over what it called “a dangerous failure of policing,” insisting that such actions embolden attackers and undermine fragile peace efforts.

Zagazola warned that failure to swiftly address the situation and hold perpetrators accountable could provoke retaliatory attacks and further destabilise the area as the atmosphere remains tense, with both communities accusing each other of provocation.

Reacting, a Police Sources who spoke to Zagazola and preferred to be anonymous said the report he saw was that “On 05/12/2025 at about 0830hrs, one Alh. Usman Amodu ‘m’, Fulani, of Onyilaba Ukpobi in Ohimini LGA, reported to the DPO Ogoli that on the same date, one Alh. Forda ‘m’ (surname yet unknown), Fulani, was attacked and killed in the bush by unknown armed gunmen numbering about eight.

He said that the DPO Ogoli mobilised a patrol team with detectives to the scene. The corpse was photographed, removed and deposited at the mortuary.

He added that the nearby bushes were thoroughly combed and efforts were ongoing to identify and track the suspects for arrest.

The sources however said he was not aware of any arrest of suspect made and their release by the DPO as alleged by the leaders of the Fulani.

Renewed violence in Otukpko as Fulani harder killed, over 20 cows slaughtered in Benue

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Army troops neutralise 2 terrorists, recover weapons in Borno

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Army troops neutralise 2 terrorists, recover weapons in Borno

By: Zagazola Makama

Troops of Operation Hadin Kai have neutralised two terrorists in an ambush at Shettimari general area of Konduga Local Government Area of Borno State.

Sources told Zagazola Makama that the operation, carried out under Operation Desert Sanity V, was executed by an ambush team in the early hours of Thursday.

The source said the troops, intercepted the fighters around their crossing point at about 1:20 a.m.

He said the soldiers immediately engaged the terrorists, neutralising two of them while others fled in different directions.

According to sources, the troops later conducted an immediate exploitation of the area and recovered two RPG bombs and one magazine loaded with 23 rounds of 7.62mm x 39mm special ammunition.

“There was no casualty on the side of the troops. The ambush team later repositioned and continued with their task.

Army troops neutralise 2 terrorists, recover weapons in Borno

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