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.
News
NDLEA warns public against fake auction offers using officials’ names
The National Drug Law Enforcement Agency (NDLEA) has warned Nigerians to be wary of fraudsters impersonating its officials to defraud unsuspecting members of the public through fake auction offers for forfeited vehicles.
In a statement issued on Friday, the agency’s spokesman, Femi Babafemi, said the scammers have been using the names of senior NDLEA officials, particularly the Secretary to the Agency, Barrister Shadrach Haruna, to circulate fraudulent letters and messages offering cheap forfeited vehicles for sale.
Babafemi described the offers as a deliberate scam aimed at swindling people of their money.
“The public is hereby notified that these offers are a complete scam. The Agency wishes to categorically state that these fraudulent offers are a malicious gimmick designed solely to defraud targeted individuals of their hard-earned money,” he said.
The agency stressed that no NDLEA official is authorised to privately allocate, sell or offer forfeited vehicles or any other seized assets to individuals.
According to the statement, all forfeited vehicles and assets are disposed of only through public auction processes conducted by government-approved auctioneers in line with legal and public procurement guidelines.
Babafemi added that legitimate auction exercises are always widely advertised in national newspapers and through the agency’s official communication channels.
He urged members of the public to disregard and report any letters, text messages or social media posts claiming to offer forfeited vehicles through Barrister Haruna or any other NDLEA official.
“The NDLEA remains committed to maintaining transparency and integrity in all its operations. Do not fall victim to these criminal elements. If you are approached with such fraudulent offers, please report immediately to the nearest NDLEA command or through our official communication channels,” the statement added.
News
Initiators Promise Big As NIGMA Gets August 2026 Date
The organisers of this year’s Nigeria International Gospel Music Awards ( NIGMA) have announced that the upcoming edition will celebrate the very best of the gospel music industry in an atmosphere of excellence, creativity, and inspiration.
The event is scheduled to take place on Sunday, August 9, 2026, at the prestigious Agip Recital Hall, MUSON Centre, Onikan, Lagos.
Speaking at a media briefing in Lagos, Kingsley Omoefe, Founder and Team Lead of NIGMA and Chief Responsibility Officer of Golden Heritage Limited, said the August event is designed to bring together gospel music ministers, industry stakeholders, fans, and supporters for a memorable celebration of talent, faith, and excellence.
He stated that attendees should expect an unforgettable experience featuring outstanding performances from leading gospel artists, alongside special recognitions for individuals and organisations that have made significant contributions to the industry.
The organisers also revealed that the event will feature meaningful conversations designed to inspire participants, promote collaboration, and foster the continued growth of gospel music.
The organisers said the August gathering would create memorable moments that would leave guests inspired, enriched, and motivated long after the curtains close.
They further called on corporate organisations, media outfits, and well-meaning individuals to take advantage of the opportunities available to support the event through sponsorships and strategic partnerships.
The organisers encouraged interested organisations and individuals seeking sponsorship, partnership, media accreditation, or participation to contact the event management for further information and registration ahead of the highly anticipated August programme.
International News
Nottingham Forest Sacks 5th Manager In 10 Months, To Wrap Up Oliver Glasner’s Deal
Oliver Glasner is in advanced talks to replace Vitor Pereira as Nottingham Forest head coach, a move which would see the Austrian become the club’s fifth manager in less than a year.
Pereira announced his departure from the club in a statement on Wednesday, saying that it came as a “complete surprise to me and without any warning”.
Glasner is a free agent after leaving Crystal Palace — where he won the FA Cup in 2024-25 and then the Community Shield and Conference League the following campaign — and is set to stay in the Premier League.
The 51-year-old confirmed in January that he would leave Palace at the end of the season after two years in charge.
On Thursday, Forest confirmed Pereira’s coaching staff Filipe Almeida, Luis Miguel, Bruno Moura, Marco Knoop and Pedro Lopes had all left the club alongside the head coach.
Pereira, 57, was appointed Forest head coach in February on an 18-month contract which runs until 2027.
The Athletic reported in May Forest had been planning to show their faith in Pereira by handing the head coach a new long-term contract, but those talks were subsequently put on hold.
“Today marks the end of my journey as head coach of Nottingham Forest,” he said in his statement.
“I want to say a sincere thank you to everyone connected with this incredible football club. Although this decision came as a complete surprise to me and without any warning, I fully respect the club’s right to make the decisions it believes are best for its future.
“Naturally, I am disappointed and saddened. I truly believed in what we were building together, and I leave with a sense of pride in everything we achieved over the past months.
“Together, we enjoyed a memorable end to the season. We secured the club’s Premier League status, reached the semi-finals of the Europa League, and created moments that will stay with me forever. Most importantly, I saw a group of players grow in confidence, belief and togetherness.
“I leave Nottingham Forest with no bitterness or resentment—only respect, gratitude and wonderful memories. Football is full of unexpected moments, and while this chapter has ended sooner than I expected, I will always look back on my time here with pride and affection.”
The Portuguese succeeded Sean Dyche and was Forest’s fourth permanent boss of the season following the departures of Nuno Espirito Santo and Ange Postecoglou.
Nuno had led Forest to Europa League qualification the previous season but he departed in September, less than three months after signing a new deal. Postecoglou was appointed his replacement but was dismissed just 39 days later. Dyche took charge of the team in October before his dismissal in February.
Forest were three points above the relegation zone when Pereira was appointed and he subsequently steered his side to Premier League safety with two games of the campaign remaining.
His appointment marked his second managerial spell in the Premier League after guiding Wolverhampton Wanderers to safety during the 2024-25 campaign.
-
Health & Wellness11 months agoPresident Tinubu Directs Cut in Dialysis Cost from ₦50,000 to ₦12,000
-
News11 months agoPICTURE: In Lagos Couple Sentenced to 22½ Years for Cannabis Trafficking
-
Trending News11 months agoNELFUND Disburses ₦86bn To 449,000 Beneficiaries
-
Business3 months agoDangote Refinery Reduces Petrol Gantry Price To ₦1,200 Per Litre
-
Business3 months agoAfter Plea Bargain, Court Discharges Stella Oduah of ₦2.5bn Fraud
-
International News3 months agoIndian Police Arrest Nigerian Over ₦290m Drug Haul
-
Business2 years agoHeritage Bank Customers’ Path to Securing ₦5m Insured Funds: A Step-By-Step Guide by NDIC”
-
Business2 years ago
Dangote; We Did Not Fix ₦600/Litre Petrol Price
