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.
Entertainment
NIBAD 2026: Abike Dabiri To Take Centre Stage As Bunmi Ebony, DJ X-One Host Baltimore Event
The Chairman and Chief Executive Officer of the Nigerians in Diaspora Commission (NiDCOM), Hon. Dr Abike Dabiri-Erewa ( OON) has been scheduled for honour, among other awardees, at the 2026 and the 6th edition of the annual Nigerian Independence Ball, Awards, and Dinner (NIBAD),billed to hold in Baltimore, Maryland, on the 18th of October .
At the instance of Naija Times USA and Raindrop Group led by Olaniyi Thompson Tabi, activities marking the 6th edition of NIBAD commenced on the 3rd of October with Independence carnival in Maryland.
As part of the expanded 6th edition, the Annual Independence stage play titled ‘Your Excellency Sir!’ …The saga of a nation, written and directed by Olaniyi Thompson Tabi, was showcased at a very colorful event on the 9th of October.
Designed to be an unforgettable celebration of Nigeria’s 66th Independence celebration, the grand finale of the celebration is billed for Sunday, the 18th of October, 4.00pm, at Gabriel Community Centre, 6948, Dogwood Road, Windsor Mill, MD 21244.
The evening will not only commemorate Nigeria’s rich history and vibrant culture but will also spotlight the exceptional contributions of Nigerians at home and abroad in various fields such as business, healthcare, education, community service, and more.
The evening will feature a grand awards ceremony to honor those who have demonstrated leadership, innovation, and dedication in their respective industries. Among them, Dr Dabiri- Erewa
Hon. Dr. Abike Kafayat Oluwatoyin Dabiri-Erewa (OON) is a prominent Nigerian politician, public administrator, and former broadcast journalist who has been able to show leadership since her appointment as the Chairman and Chief Executive Officer of the Nigerians in Diaspora Commission (NiDCOM).
To add colour to the event also, is
Dj X-One, reputed as the best Disc Jockey in the DMV area. Bunmi Ebony, a fast rising Juju Artiste in Atlanta will also be on the bandstand to thrill guests at the event to celebrate Nigeria.
****About NIBAD: The Nigerian Independence Ball, Awards, and Dinner (NIBAD) is an annual event that celebrates Nigeria’s Independence while recognizing the achievements of Nigerians in the diaspora. NIBAD aims to highlight the cultural pride, resilience, and accomplishments of Nigerians globally, bringing together community leaders, professionals, and influencers for an evening of celebration, inspiration, and unity.
News
DPO Sacked Over Renovation Of Police Post By Suspected Cultist
The Rivers State Police Command under CP Olugbenga A. Adepoju has condemned the purported renovation of the Abuloma Police Outpost by suspected cultists and ordered a full investigation into the incident.
Police Public Relations Officer (PPRO) of the command, ASP Blessing Agabe disclosed this in a Friday statement.
She said the command’s action follows a trending social media report and circulating video alleging that suspected cultists renovated the outpost and visited the facility on Thursday, October 15, to celebrate completion of the renovation.
The command said it “strongly condemns any action or association capable of compromising the integrity, discipline and professional standards of the Nigeria Police Force or conferring legitimacy, recognition or acceptance on suspected cult groups or other unlawful organisations.”
It added, “Police facilities are public institutions established for the protection of citizens and the enforcement of law and must not become platforms through which criminal groups seek public validation or influence.”
The command said CP Adepoju maintains zero tolerance for criminality and any conduct that undermines public confidence in the police.
Consequently, he has queried and relieved the Divisional Police Officer in charge of Abuloma Division and the Divisional Officer overseeing the affected outpost of their duties pending investigation.
The CP has also ordered a full investigation to establish the circumstances surrounding the incident and the veracity of the allegations, including the identities and backgrounds of the individuals or groups who financed or facilitated the renovation; the police officers who authorised or approved the project; whether due procedures were followed; whether any officer breached professional standards or compromised the integrity of the force; and the extent of any involvement by police personnel.
The command said while it welcomes legitimate community support for improving police facilities, consistent with Section 26(1)(d) of the Nigeria Police Act 2020, which provides for gifts and contributions to the Police General Fund, such support must not compromise police independence, professional standards or security.
“No donation or assistance confers immunity from investigation or prosecution,” the command stated, adding that the investigation will establish whether necessary approvals were obtained and appropriate checks conducted on those who financed the renovation.
It reiterated that it would not condone unprofessional conduct or any form of improper association with criminal elements and that appropriate disciplinary and legal action would be taken against anyone found culpable.
News
Police Confirm Kidnap Of Catholic Priest In Benue
The Police Command in Benue State has confirmed the abduction of Rev. Fr. John Otache, Parish Priest of St. Margaret’s Parish, Ajegbe-Awume, in Ohimini Local Government Area of the state.
The Police Public Relations Officer, DSP Aondogu Orchia confirmed the incident on Friday in Makurdi.
Orchia said the command had commenced full investigation into the incident and efforts were ongoing to rescue the priest.
Meanwhile, the Catholic Diocese of Otukpo, in a statement signed by the Diocesan Chancellor, Rev. Fr. Joseph Itodo, said the priest was abducted on October 13.
According to Itodo, Otache was returning home from Otukpo when he encountered the abductors along the Otobi Amejo-Ajegbe Road in Ohimini Local Government Area.
He expressed sadness over the incident, saying the Bishop of Otukpo, Most Rev. Michael Apochi, was deeply pained by the development.
He called on priests, religious members, the laity and other well-meaning individuals to pray for the priest’s safe and speedy release.
He also urged prayers for other persons held by kidnappers across the country, expressing hope for their safe return.
-
Health & Wellness1 year agoPresident Tinubu Directs Cut in Dialysis Cost from ₦50,000 to ₦12,000
-
News2 years ago
CBN Debunks Fake Circular on New ₦5,000 and ₦10,000 Notes
-
Business7 months agoDangote Refinery Reduces Petrol Gantry Price To ₦1,200 Per Litre
-
International News7 months agoIndian Police Arrest Nigerian Over ₦290m Drug Haul
-
Business7 months agoAfter Plea Bargain, Court Discharges Stella Oduah of ₦2.5bn Fraud
-
Business2 years ago
Dangote; We Did Not Fix ₦600/Litre Petrol Price
-
Trending News1 year agoNELFUND Disburses ₦86bn To 449,000 Beneficiaries
-
Opinion2 years agoChampioning the People’s Voice: Obasa’s Dedication to Grassroots Representation By Dave Agboola⁰
