News
EFCC grills Emefiele over alleged $15b foreign debts, new currency

The Economic and Financial Crimes Commission (EFCC) yesterday began a full-scale probe of the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, with alleged $15 billion foreign debts topping the investigation.
Emefiele will also account for how the apex bank spent N74.84 billion to produce and roll out currencies, including new naira notes.
The allegations are in addition to alleged fraud uncovered by the Special Investigator, Jim Obazee, who is looking into the activities of the CBN.
Obazee, whose committee is collaborating with the Federal Bureau of Investigation of the Nigeria Police, has also submitted an interim report on the CBN to President Bola Ahmed Tinubu.
It was learnt yesterday that the ex-CBN governor was transferred from the Department of State Services (DSS) to the EFCC because the fresh investigation is not covered by the mandate of the security agency.
The DSS does not have the core competence to investigate the weighty allegations of financial crimes against Emefiele, a highly placed source said yesterday.
There were fears that if the DSS continues with the investigation, the ex-CBN governor might win in court on technical grounds.
The source said only the EFCC can put Emefiele on trial, not the DSS, based on the findings made so far.
Emefiele was transferred (technically released) to EFCC on Thursday afternoon to allow for in-depth investigation and trial.
The swap was kept under wraps in order to avoid what the source described as a “distraction.”
Having appraised the allegations against Emefiele and the interim report on the ongoing probe of the CBN, the Attorney-General of the Federation and Minister of Justice, Mr. Lateef Fagbemi (SAN) sent an advisory to the President that the EFCC is the right agency to probe Emefiele, it was learnt.
“As a man of due process, the President approved the advisory of the AGF. It was on this basis that the DSS handed over Emefiele to the EFCC on Thursday,” The Nation learnt yesterday.
About two to three weeks ago, the Special Investigator on CBN activities, Jim Obazee, submitted an interim report to the President with a lot of findings requiring in-depth investigation. This was another reason the AGF was very strong in his opinion that the EFCC should manage the ongoing probe.
“The truth is that such an investigation is not within the mandate of the DSS. Or else, if Emefiele is put on trial by the DSS, he will win on technical grounds,” the highly placed source said.
At press time, it was confirmed that a panel of EFCC operatives had started grilling Emefiele on the allegations against him, including the following:
•Alleged foreign debts of $15 billion
•Spending of N74. 84 billion on Naira redesign, production and roll out of currencies
•Alleged fraud in Anchor Borrowers Scheme
•Suspicious audit of CBN accounts
•Acquisition of bank, Fintech licences by some top officials of CBN
•Award of suspicious billions of Naira contracts
Another source in EFCC added: “Emefiele is in our custody and he is already responding to issues or allegations raised for him from a team under the supervision of the Director of Operation, Abdulkarim Chukkol.
“As a commission, we won’t talk on his case in order not to compromise ongoing investigation.”
The Head of Media and Publicity of EFCC, Mr. Dele Oyewale, was yet to pick his call at press time.
International News
US Wants Justice In The killing Of Pastor Dachomo’s 9 Family Members
The United States has condemned the killing of members of the family of Plateau-based cleric, Rev. Ezekiel Dachomo, describing the attack as horrific and urging Nigerian authorities to ensure those responsible are brought to justice.
In a statement shared on X on Thursday, the US Department of State’s Bureau of African Affairs expressed condolences to the victims’ families and called for stronger measures to prevent further attacks on vulnerable communities across Nigeria’s Middle Belt.
“The United States strongly condemns the horrific killing of members of Rev. Ezekiel Dachomo’s family in Plateau State, Nigeria. The continued violence targeting Christian communities and other vulnerable populations in Nigeria’s Middle Belt is deeply alarming,” the bureau said
The US said it had already engaged Nigerian officials on the worsening security situation, stressing that urgent action was needed to curb recurring attacks and hold perpetrators accountable.
“As I discussed last week with Nigerian officials, we must do more to prevent violent acts. The perpetrators must be held accountable, and urgent action is needed to strengthen security and protect Christians and other vulnerable communities,” the statement added.
The bureau reaffirmed Washington’s commitment to working with the Nigerian government to combat terrorism and violent extremism, stressing that Christians and other Nigerians should be able to practise their faith without fear of violence.
The statement followed the July 12 attack on Kum community in Riyom Local Government Area of Plateau State, where nine members of Rev. Dachomo’s extended family, including a two-month-old baby, were killed.
According to the cleric, the attackers, believed to be armed Fulani militias, asked for him by name before opening fire on his relatives.
Dachomo, who serves as Regional Chairman of the Church of Christ in Nations (COCIN) in Barkin Ladi Local Government Area, said his family had repeatedly been targeted because of his outspoken criticism of the violence in Plateau State.
He recalled that his grandmother and an uncle were also killed in previous attacks, adding that days after burying his relatives, he received a written death threat from the same group, warning that he would be their next target.
News
Graduation Ceremony Ban: Govt Threatens To Shut Erring Schools, Exempts SS3 Students
The Anambra State Government has clarified that its indefinite ban on graduation ceremonies applies to all kindergarten, primary and secondary schools across the state, except for students completing Senior Secondary School (SS3).
The clarification was contained in a press statement issued on Friday by the Commissioner for Information and Value Reformation, Law Mefor, following what the government described as public enquiries and concerns over the directive.
According to the government, Governor Chukwuma Soludo ordered the suspension of graduation ceremonies to reduce the financial burden imposed on parents by schools.
“The essence is to reduce the financial burden on parents,” the commissioner said.
The government explained that the ban covers all forms of graduation-related events, including “passing out,” “cross over,” and any similar ceremonies organised by schools.
Mefor further stated that the directive applies to both public and private schools operating in Anambra State.
However, he noted that students graduating from Senior Secondary School (SS3) are exempted from the ban.
The commissioner stressed that graduation ceremonies for SS3 students remain optional and, where organised, must not involve any levies or financial demands on students or their parents.
“Graduation ceremonies for students exiting Senior Secondary School are optional and, where carried out, must be conducted without any form of levy or financial demand on students and parents,” he said.
The state government also warned that school proprietors and administrators who violate the directive would face severe consequences.
“Any school management found in violation of this directive will face serious sanctions, which may include the closure of such school,” Mefor stated.
The clarification followed widespread reactions after the state government announced the suspension of graduation ceremonies, with many parents and school owners seeking details on the categories of schools affected and whether any exceptions would be allowed.
Governor Chukwuma Soludo, in October 2025, banned graduation ceremonies and Christmas parties in schools across the state as part of efforts to reduce the financial burden on parents and guardians.
The governor said the policy was designed to make education more affordable and equitable for families while discouraging unnecessary expenses associated with school activities.
Expressing concern over what he described as avoidable financial pressure on parents, Soludo had also directed schools to discontinue the use of textbooks designed for pupils to write in.
“This is to owners and administrators of government, private, and mission schools in Anambra: we have set out some basic standards to ensure that the poor are not made to spend so much just because their children are in school.
“One of the measures includes discontinuing the use of textbooks designed for students to write in. This practice forces parents to buy new textbooks annually.
“Once a child finishes a class, he should be able to pass on his textbooks to his younger siblings,” the governor had said.
News
Massive Gridlock As Multiple Accident Leave One Dead On Kara Bridge
At least, one person has been confirmed dead leaving others with different categories of injury, following an early-morning multiple-car crash along the Kara Bridge, inward Mowe/Ibafo on the Lagos-Ibadan Expressway, which left hundreds of motorists stranded and grounded economic activities.
In a detailed report of the incident, the FRSC, Lagos Sector Command, said the first crash occurred at about 12:05 a.m. on the outbound carriageway towards Ibadan, involving five articulated trucks and one Toyota Sienna vehicle.
The FRSC report also said rescue and recovery operations were ongoing when another crash occurred at the inbound carriageway towards Lagos involving a commercial bus.
It added that Lagos State Traffic Management Agency LASTMA officials, FRSC officials, officials of the Lagos State Emergency Management Agency LASEMA, and police operatives were on the ground to manage the situation. Tow trucks were also present as officials continued recovery operations.
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