Connect with us

News

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

Published

on

Spread the love

 


 

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

Landlord Arraigned For Setting Tenant’s Property On Fire

Published

on

Spread the love

 

An 18-year-old landlord, Similoluwa Akande, has been arraigned before an Akungba-Akoko Magistrate’s Court in Ondo State for allegedly setting fire to a tenant’s belongings valued at N898,000.

Akande was docked on a four-count charge bordering on felony following the incident, which reportedly occurred on August 19, 2026, at Okusa in Akungba-Akoko.

According to the police prosecutor, Olasunkanmi Boboye, the defendant allegedly set ablaze property belonging to his tenant, Aseluwa Ezekiel.

The items destroyed included a bed, bed frame, clothes, carpet, gas cylinder, travelling box, shoes, curtains, rods and cash.

The prosecutor told the court that the burnt items were valued at N898,000, while some official documents were also reportedly destroyed in the fire.

Boboye said the alleged offences contravened Section 249(D) of the Criminal Code, Cap. 37, Vol. 1, Laws of Ondo State of Nigeria, 2006.

The defendant pleaded not guilty to the charges when they were read to him.

He was not represented by legal counsel and informed the court that he had health challenges.

Presiding Magistrate Kolapo Kolawole granted the defendant bail in the sum of N500,000 and adjourned the matter until September 9, 2026, for hearing.

Continue Reading

News

Stop Giving Motorcycles As Palliatives, Defence Minister Tells Governors

Published

on

Spread the love

 

The Minister of Defence, Gen. Christopher Musa (retd.), on Thursday said terrorists are using motorcycles given to Nigerians as palliatives to wreak havoc across the country.

 

He, however, advised the state governors and lawmakers to stop giving motorcycles as palliatives, arguing that some of the motorcycles eventually end up in the hands of terrorists to facilitate and enhance their nefarious activities.

Musa, who stated this when he appeared on Channels Television’s Politics Today, said efforts are being made to curb terrorism and the operational challenges confronting the country’s security forces.

“We try to appeal to even governors to stop giving motorcycles out as palliatives. Because these motorcycles are the same ones that still end up with these terrorist

“Even if you have to give, don’t give them the big capacity motorcycles; give them the small capacity ones that they won’t be able to use to run around, because that gives them leverage. They can easily enter and then disappear,” he said.

The minister also warned that motorcycles distributed through constituency projects and other palliative programmes by lawmakers could find their way back to bandits and terrorists.

“Those bikes… before you know it, they’re already back to the bandits, and that’s what they’re using. So we must stop that,” he said.

According to him, security agencies had identified illegal markets and motor parks as channels through which terrorists move arms and ammunition into areas where they operate.

“What we realise from experience is they establish illegal markets or illicit motor parks. They go to those motor parks; that’s where they move arms and ammunition into those areas,” he added.

The defence minister also called for greater involvement of local governments in tackling insecurity, saying their proximity to communities gives them an advantage in identifying criminals and preventing crime.

“We must allow our local governments to work. Failure of local government is what is aggravating what we’re dealing with, and if we want a better solution, a quick fix, our local governments must work.

“Crime and development are local. If every local government chairman is dealing with criminals within his locality, it’s easier to manage them than leaving it to the state or to the federal,” he said.

Musa said local government chairmen should hold regular security meetings and report developments in their areas.

He further urged state and local authorities to strengthen monitoring of markets, motor parks and other locations through which drugs, weapons and ammunition could be moved.

“If we’re able to make sure that we man all the markets, all the motor parks, all these areas where drugs, weapons, ammunition move, it will make it difficult for them,” he added.

Continue Reading

News

About 50 Inmates Have Been On Awaiting Trial For 10 Years In Akwa Ibom –Report

Published

on

Spread the love

 

At least 49 inmates at the Medium Security Correctional Centre in Eket, Akwa Ibom State, have reportedly spent more than a decade awaiting trial, exposing the human cost of prolonged detention and delays in Nigeria’s criminal justice system.

 

Sources inside the facility disclosed the figure during an inspection of the centre on September 2, 2026.

According to the sources, some of the inmates have spent more than 10 years in custody without their cases being concluded, while others allegedly face difficulties because their case files are unavailable.

Some inmates were reportedly arrested over relatively minor offences, while sources also alleged that others were detained in connection with activism.

The prolonged detention means that people who have not been convicted of the offences for which they were arrested have spent years behind bars.

The situation is particularly troubling because the Nigerian Constitution guarantees the right to a fair hearing within a reasonable time.

The problem is not entirely new at Eket.

In 2023, the Akwa Ibom Chief Judge released six inmates from the facility after finding that they had spent between two and three years in custody without case files to charge them to court.

In March 2026, another eight inmates were released from Eket during a jail-delivery exercise conducted by the state Chief Judge, with the judiciary citing compassionate grounds and want of prosecution.

The Chief Judge has repeatedly raised concerns about prolonged detention.

In March, Justice Ekaete Fabian-Obot said it was unconstitutional to keep suspects in custody for prolonged periods without trial.

The problem is compounded by the centre’s transportation crisis.

Transport

The Officer-in-Charge, Chief Superintendent of Corrections Samuel Bassey, recently said over 40 awaiting-trial inmates were unable to attend court because the centre had no functional vehicles.

The revelation was made on Tuesday, September 1, when a forum of Eket Federal Constituency media professionals (EFCMP), led by its Chairman, Comrade Enobong Nsimah, visited the facility to assess its condition and explore ways of providing pro bono legal assistance to inmates without legal representation.

Akwa

He said some inmates transferred to the facility from Nsit Ubium Local Government Area as far back as 2023 had never appeared in court because of the transportation problem.

“About 46 inmates are unable to appear in court. It is difficult to take the inmates to court without having operational vehicles,” Bassey said.

According to him, more than 40 inmates on the awaiting-trial list have remained at the centre because there is no functional escort van or other vehicle to transport them to court. He also disclosed that the roofs of the sections housing inmates had deteriorated badly and leaked heavily whenever it rained, leaving the inmates soaked.

In 2025, the Chief Judge released inmates across the state’s correctional facilities on grounds including excessive remand periods, lack of diligent prosecution, missing case files, health conditions and compassionate considerations. The judiciary said some inmates had already spent longer in custody than the maximum sentence they might have received if convicted.

Continue Reading

Trending

Copyright © 2026 TheColumn NG