NEWS AGENCY OF NIGERIA
TAJBank to issue N20bn Sukuk, targets N100bn issuance

TAJBank to issue N20bn Sukuk, targets N100bn issuance

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By Kadiri Abdulrahman

TAJBank, one of Nigeria’s non-interest banks, says it is finalising arrangements to raise the sum of N20 billion Mudarabah Sukuk bond to beef up its Additional Tier 1 (AT1) capital.

The Founder and Chief Executive Officer of the bank, Mr Hamid Joda, said this via a virtual news conference on Monday in Abuja.

AT1 capital comprises capital instruments that are evergreen, in that there is no fixed maturity.

According to Joda, the issuance of the bond is part of the bank’s N100 billion Sukuk programme with the aim of fueling its business expansion drive.

Joda said that the new investment initiative was coming two years after the issuance of the first-ever N10 billion Sukuk bond on the Nigerian Exchange in 2023.

He said that it presented a unique opportunity for individuals and institutions to invest in an ethical instrument with a competitive 20.5 per cent per annum return.

“Specifically, the new Mudarabah Sukuk bond, is designed to offer a stable and ethical investment option.

“It allows investors to participate in the bank’s profit-sharing ventures, and underscores TAJBank’s commitment to expanding access to innovative financial solutions and promoting financial inclusion in the country,” he said.

Joda said that the Mudarabah Sukuk was open to all investors, both individuals and corporates.

According to him, the goal is to provide a reliable source of extra income, accessible from the comfort of homes.

“We are excited to bring this Mudarabah Sukuk to the market, offering a compelling investment opportunity that aligns with ethical financial principles.

“This listing on the NGX will enable a wider range of investors to participate in our growth and benefit from our profit-sharing model,” he said.

He advised interested investors to contact their financial advisors or visit www.tajbank.com for more information on the Sukuk and the listing process.(NAN)(www.nannews.ng)

 

Edited by Isaac Aregbesola

TAJBank, AIFC partner to boost non-interest banking

TAJBank, AIFC partner to boost non-interest banking

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By Kadiri Abdulrahman

TAJBank Nigeria has signed pact with Astana International Financial Centre (AIFC) Kazakhstan to promote non-interest banking, boost Nigeria’s merchandise trade with Asian countries, and enhance the nation’s foreign exchange (FX) earnings.

Its Managing Director, Hanid Joda, said this at the signing of  Memorandum of Understanding (MoU) between the two institutions in Abuja.

The MoU was formalised with the Ooni of Ife, Oba Enitan Ogunwusi, and other prominent dignitaries in attendance.

”It specifically focuses on promoting and developing non-interest banking products and services in Nigeria, in line with Islamic financial principles.

”It also aims to streamline and secure the management of export proceeds, particularly for agricultural commodities like cocoa.

”The agreement seeks to explore innovative financial instruments and mechanisms to enhance trade finance and provide comprehensive support to Nigerian exporters,” he said.

Joda emphasised that the partnership represented another significant milestone in the bank’s ongoing commitment to support Nigerian businesses across the country.

He described the development as the financial institution’s dedication to fostering growth and prosperity nationwide.

“We are excited to have our Royal Father, the Ooni of Ife here at this event, which is a clear demonstration of his endorsement of our partnership with the AIFC.

“I assure all our customers and potential ones that TAJbank will continue to do its best to support them with world-class non-interest banking products and services,” Joda added.

In his remarks, Ogunwusi commended TAJBank’s management for formalising a strategic framework with AIFC,  leveraging non-interest banking opportunities to benefit Nigerians, Asians, and their businesses.

He recalled its remarkable efforts and achievements towards deepening financial inclusion through non-interest banking model in the country over the past few years.

“I believe this MoU between TAJBank and AIFC is another initiative that I strongly feel will foster export ties between Nigeria and Kazakhstan.

”We look forward to better international trade involving cocoa and other commodities as I hear that you have the best chocolates in Kazakhstan,” he said.

The royal father expressed delight that the MoU would  promote and develop non-interest banking products and services within Nigeria.

Yernar Zhanadil, AIFC’s Director, noted that the Islamic market, with over eight million users in Kazakhstan was still untapped.

“We can issue Ijara or Sukuk using Nigeria’s model. It has so much potential. With the Ooni’s involvement and TAJBank.

 ”I am even surer of the immense benefits of the MoU for bank customers and the economies of the two countries,” Zhanadil stated.(NAN)(www.nannews.ng)

Edited by Isaac Aregbesola

TAJBank gets new global rating, wins Islamic bank award

TAJBank gets new global rating, wins Islamic bank award

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By Kadiri Abdulrahman

TAJBank Limited has consolidated its frontline position as Nigeria’s most innovative and value-driven non-interest lender, winning an award at the just-concluded Islamic Finance News (IFN) Awards in Dubai.

Its Managing Director, Hamid Joda, said this in a statement on Monday in Abuja.

He said that the Nigeria’s fastest growing non-interest banking services provider won the “Best Islamic Bank in Nigeria” award through a global survey conducted by the IFN.

Joda attributed the bank’s global recognition to the commitment of the board, management and members of staff to best industry standards in products and services.

“We want to thank IFN for the very credible poll that indicated that TAJBank is leading the non-interest banking segment of Nigeria.

“We also assure our growing customers that, as our mantra says, TAJBank’s only interest is the customers,” Joda said.

The bank’s Co-Founder, Sherif Idi, described the IFN award as a testament to relentless efforts of the management to ensure that TAJBank remains the preferred choice for customers.

The News Agency of Nigeria (NAN) reports that TAJBank had in 2022 received the Payment Card Industry Data Security Standard (PCI DSS) certification.

It also received three International Standards Organisation (ISO) certifications by the Certification Partner Global (CPG), namely ISO 27001, ISO 22301, and ISO 20000 on Information Security, Business Continuity, and IT Service Management Systems.

At the domestic level, the bank also won several awards, including the Leadership Newspaper’s “Banker of The Year Award 2020’’, BusinessDay Newspaper’s “Islamic Bank of the Year Award’’ for three consecutive years.(NAN)(www.nannews.ng)

Edited by Isaac Aregbesola

Olukoyede credits Nigeria’s improved corruption index to Tinubu

Olukoyede credits Nigeria’s improved corruption index to Tinubu

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By Isaac Aregbesola

EFCC Chairman, Ola Olukoyede, has attributed Nigeria’s improvement in the Transparency International (TI) Corruption Perceptions Index to President Bola Tinubu’s unwavering commitment to the fight against corruption.

Olukoyede made the remarks at the Passing Out Parade (POP) of the Economic and Financial Crimes Commission (EFCC) Detective Assistants Course 5, held at Ende Hills, Akwanga, Nasarawa State.

The News Agency of Nigeria (NAN) reports that Nigeria climbed five spots in its fight against corruption in the 2024 TI Corruption Perceptions Index, released on Tuesday.

The country now ranks 140th out of 180 nations, scoring 26 out of 100, an improvement from the previous year’s rank of 145 with a score of 25.

Olukoyede credited this achievement to the leadership of President Tinubu, highlighting his unflinching support for the commission and the broader fight against economic and financial crimes.

“It should be noted that under the able leadership of President Bola Tinubu, Nigeria has achieved a higher position in the Transparency International grading, moving up five points.

“This is a remarkable improvement in our fight against corruption in Nigeria,” he stated.

While reaffirming the commission’s dedication to combating economic and financial crimes, Olukoyede emphasised that the EFCC could not tackle the challenge alone and required the support of all stakeholders.

“Let me once again remind us that the fight against economic and financial crimes is one on which the future of our nation depends.

“Nigeria looks up to the EFCC for solutions to pervasive corruption and for assistance in stimulating the economy.

“The commission is also a beacon of hope in addressing cybercrime and other financial crimes driven by technology,” he said.

He urged the newly trained officers of the EFCC to play a vital role in the mission to eradicate economic and financial crimes through prevention, enforcement, and coordination.

“A lot of trust is placed on you as cadets of the commission. Your families, the EFCC, and the entire citizens of Nigeria look up to you to uphold the highest standards of ethics and integrity.

“You must allow no room for compromise or tolerance for misconduct. In the course of your duties, you will face challenges that will test your integrity and commitment.

“To you, cadets, I say: go forth and serve with integrity, courage, and professionalism.

“Embark on the fight against economic and financial crimes. Collaborate with your team and other stakeholders.

“Together, we can free our nation from the shackles of economic and financial crimes. We know the task is daunting, but we will not give up,” he stated.

Gov. Abdullahi Sule of Nasarawa State called for collaboration in the fight against corruption, emphasising that the country could not progress without eradicating this menace.

“We cannot move forward if we don’t confront and eradicate corruption.

“Leaders at various tiers of government have a responsibility to support agencies like the EFCC in this critical fight.

“This is why Nasarawa State, recognising the critical role of the EFCC, has decided to withdraw from the legal tussle against the commission regarding its statutory powers,” he stated.

The governor emphasised that the EFCC was established with the primary goal of eradicating economic and financial crimes to ensure a corruption-free nation.

He further stressed that the commission could not succeed in its mission without properly trained personnel to execute its mandate.

“This is why the commission must remain committed to the recruitment and continuous training of its officers to build capacity and strengthen its operations,” he added.

The Chairman of the Senate Committee on Anti-Corruption, Sen. Emmanuel Udende, represented by Sen. Diket Plang, pledged the support of the upper chamber for the EFCC’s objectives.

He lauded the commission for enhancing Nigeria’s image and respect on the international stage through its patriotism and commitment.

The Chairman of the House Committee on Anti-Corruption, Rep. Ginger Onwusibe, also called for stakeholder support in the fight against corruption.

He urged the new cadets to recognise their selection as an honour and a responsibility to serve in the battle against financial crimes.

“With your commitment, Nigeria can effectively combat criminality and promote a safer, more stable financial system,” Onwusibe said.

NAN reports that out of 169 Detective Assistant Cadets that passed out, 11 distinguished themselves in different areas of study and operational activities and were honoured with awards.
Among the awardees were Agwuncha Lotanna, Anani Melche, Adutu Uyo. Muhammad Sanusi, Oguzi  Yefia and Joshua Princewill(NAN)(www.nannews.ng)

Edited by Abiemwense Moru

Trends in oil company and Delta host community relations

Trends in oil company and Delta host community relations

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By Kayode Adebiyi, News Agency of Nigeria (NAN)

Chief Obaogu Daniel, a community leader in Ogbeani, Ndokwa West Local Government Area, Delta State, recently recounted how Liquefied Petroleum Gas Kwale, acquired land from the community in 2017.

Daniel said one of the conditions for the acquisition was for the company to provide the community with its accrued benefits as a host community in the oil and gas industry.

“At the end of the day, what happened was quite different from what we anticipated,” he said.

Also, he explained that treating workers from the community with dignity was a key condition for the acquisition.

However, he lamented, that the company had failed to uphold this condition.

“We found out that even unskilled labourers were brought in from India, thereby reducing job opportunities for community youths,” he alleged.

In addition, he claimed that ”the military, which provides security for the company as a national critical infrastructure, has emboldened the company to act with impunity.

“Nevertheless, we are a peaceful host community which is not hostile to oil and gas companies.”

A recent report stated that the host community alleged that the management of Liquefied Petroleum Gas (LPG), Kwale, Delta State, was maltreating workers from the community.

The Kwale Hydrocarbon Nigeria Limited (KHNL) is an independent downstream gas distribution company.

As a result of these concerns, the Ogbeani people and the larger Ndokwa community called on Delta Gov. Sheriff Oborevwori to intervene over the alleged mistreatment.

According to the report, the community found it necessary to voice its anger and frustration over the mistreatment of Ogbeani community workers, particularly since the company operates on their land.

Historically, tensions between oil companies and their host communities in Nigeria have been longstanding.

The Niger Delta, which hosts the majority of the country’s oil and gas reserves, has been a hotspot for conflicts between multinational oil corporations and local communities.

These conflicts often stem from issues such as environmental degradation, lack of job opportunities for indigenes, poor Corporate Social Responsibility (CSR) initiatives, and inadequate compensation for land use.

For instance, a 2022 report by the Stakeholder Democracy Network (SDN) revealed that over 60 per cent of host communities in the Niger Delta lack access to basic social amenities, in spite of the vast wealth generated from oil extraction in the region.

Many communities complain about the destruction of their farmlands and water sources due to oil spills and gas flaring, leading to severe economic and health consequences.

Similarly, a 2023 study by the Centre for Research on Multinational Corporations revealed that gas flaring in the Niger Delta remains one of the worst in the world, contributing to environmental pollution and health hazards such as respiratory diseases and cancer.

In spite of regulations against gas flaring, companies continue the practice with minimal consequences.

This latest allegation against LPG adds to several similar accusations by host communities in areas where oil and gas companies operate.

For example, in 2024, Nigeria Liquefied Natural Gas (NLNG) denied allegations that its Train 7 Project Engineering, Procurement, and Construction Contractors neglected its host community, Bonny Island.

This followed a publication accusing the company of excluding the people of Bonny from the benefits of its CSR programmes.

However, NLNG dismissed the report as false and baseless, stating that it had already earmarked two major CSR projects for the island.

Specifically, the company cited the Shell Gate-Coal Beach Road and the Bonny Vehicular Terminal, both of which had been agreed upon by all relevant stakeholders.

Prior to this, in 2021, Finima, a host community in Bonny Local Government Area of Rivers State, threatened to sever ties with NLNG until further notice.

According to the community, NLNG had refused to grant it the rights of a landlord, as provided for in the Nigerian Local Content Law and as applicable to other host communities of key facilities in the country.

In a broader context, Stephen Woollett, in his book ‘Environmental Grants’, noted that oil and gas operations in rural communities often generate prolonged conflicts between such communities and oil companies.

He further stated that such conflicts arise from several actions, including disregard for environmental quality concerns, gross human rights violations, and poor CSR policies.

“The low quality of life of the host communities of oil companies is indicative of the relationship between them and those communities,” he said.

Similarly, in the case of Ogbeani community workers at LPG in Kwale, their demand is for the company to issue them formal employment letters clearly defining their terms and conditions of service.

Additionally, they stated that these terms and conditions should include improved welfare provisions similar to those enjoyed by other workers.

As part of their efforts, representatives of the community workers, through I. O. Omoyibo & Co., Barristers, Solicitors, and Legal Consultants, recently sent a letter of appeal to the state governor.

Dated October 30, 2024 and titled “Save Our Soul”, the letter lamented that the company arbitrarily hires and dismisses community workers without ‘knowing their fate or what lies ahead since no employment letter was issued to them’.

Moreover, they alleged that the company had failed to implement the new minimum wage, which could have improved their lives.

They stated that all attempts to resolve the dispute amicably had proved abortive.

Given these grievances, the community urged the governor to use his good offices to persuade the company’s management to listen to the workers and implement their requests.

They further stressed that their demands were reasonable and aligned with the country’s labour requirements.

When contacted on the matter, Chief Lucky Ojumah, Community Liaison Officer (CLO) at LPG, declined to comment extensively.

“I am ready to give all the information, but I must get a directive,” he was quoted as saying.

Likewise, the company’s General Manager, Mr Murugesh Kamal Seepco, declined to respond to the allegations when our reporter reached out to him.

In conclusion, ongoing tensions between oil companies and Niger Delta communities reveal the need for corporate accountability, transparent engagement, and compliance with labour and environmental regulations.

Stakeholders urge the government, companies, and community leaders to prioritise fair labour practices, adequate compensation, and sustainable development to prevent further conflicts that disrupt both businesses and local livelihoods. (NANFeatures)

Expert seeks Africa’s participation in AI innovations

Expert seeks Africa’s participation in AI innovations

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AI
By Ijeoma Olorunfemi
An Artificial Intelligence (AI) expert, Mr Omoikhefe Aienloshan, has called on African governments to be part of the innovations around the AI technologies
Aienloshan made the call in a statement made available to newsmen in Abuja, following the AI innovation tussle between the U.S. and China.
The News Agency of Nigeria (NAN) reports that the U.S. and China have been in a tech war following new innovations by the Chinese targeted at upsetting the dominance of the America on AI.
According to the expert, there must be strategic investments in AI education, robust data policies and collaborations with both Eastern and Western tech powers.
He also underscored the need for African governments, innovators, and tech entrepreneurs to recognise the urgency of the moment.
“This AI competition is no longer just about who can create better technologies. it is about who can shape the future of global economies, industries, and even political landscapes.
“Africa cannot afford to sit on the sidelines while global superpowers determine the rules of the game.
“We have the talent, we have the innovation, but without the right infrastructure and forward-thinking policies, we will miss this crucial window of opportunity,” the founder if ZeroEdge and  Gasnownow said.
According to him,  Africa can engage as a key player in the AI space by investing in homegrown talent, fostering AI start-ups, and creating platforms that allowed African tech companies to collaborate with international partners
Aienloshan noted that with right investments in AI, service delivery could be boosted in sectors such as healthcare, agriculture, real estate, energy and  potentially creating millions of new jobs.
“We must create an environment where AI innovation thrives across sectors. AI is not just for the elite, it is a tool that can drive inclusive economic growth if we harness its potential correctly,” he said.
Aienloshan stressed that the AI cold war revealed that the world was on the brink of a technological race with far-reaching political and economic implications.
NAN reports that the USA and China have been in a tech war because U.S. which had AI powerhouses like Open AI, ChatGPT, Google Gemini, among others, banned the sales of semi conductor chips to China for years, in a bid to limit China’s AI capacity.
China, however, released an AI model, which according to users, is more powerful and up to date than anything the Americans have, that is, the DeepSeek-R1.
The Chinese additionally made the AI model open source, thereby making it available for download, fine tuning, altering to suit demands of the user.
The move by the Chinese over the week had made tech billionaires lose a combined amount of over 100 billion dollars in the value of AI companies on the American stock exchange market.
DeepSeek-R1, hailed as China’s most advanced AI system to date, has stunned experts worldwide with its capacity to process massive datasets at unprecedented speeds and solve complex problems across industries.
Many see it as a direct challenge to U.S. dominance in AI research, sparking concerns that the two superpowers could lock the rest of the world out of the most significant technological advancements of the 21st century.(NAN) (www.nannews.ng)
NIU/ADA
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Edited by Deji Abdulwahab
EFCC promotes 900 officers, pledges robust welfare

EFCC promotes 900 officers, pledges robust welfare

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By Isaac Aregbesola

 The Economic and Financial Crimes Commission (EFCC) has approved the promotion of 900 officers, and pledged a robust welfare package for its members of staff.

The commission also reinstated life and property insurance for its operatives.

EFCC Chairman, Ola Olukoyede, revealed this at the commission’s 2024 Rewards and Recognition ceremony in Abuja on Saturday.

Olukoyede stated that the commission, under his leadership, was working tirelessly to improve the welfare of its personnel.

According to him, the commission is also taking steps to address the long-standing issue of insurance, which has been absent for 20 years.

“We have approved the promotion of about 900 staff, some of whom have been awaiting promotion for about six or seven years.

“We are also taking steps to solve the issues of insurance. For 20 years, we have not had any life and property insurance.

“I believe that in another one or two months, we should be done with our life insurance and also the property insurance,” he said.

According to Olukoyede, the commission has recently taken delivery of 84 apartment units in the Lekki Area of Lagos State.

He said the apartments would be distributed and sold to staff members at cost, without any interest charged on the purchase price.

Olukoyede further confirmed that he was working on a package to adjust the cost of living for officers, adding that this would be unveiled soon.

The EFCC chairman emphasised that the commission would do everything possible to ensure the welfare of its personnel was well taken care of.

“We are going to do everything possible to ensure that our welfare is well taken care of within the limits of our resources.

“Even if we have to stretch ourselves, I think we deserve it by virtue of the risk we take in this job,” he said.

He also stressed the importance of integrity, stating that, ”it is the best preservation and assurance.

“Indeed, this recognition coming at a time like this when some bad eggs in our fold are trying to bring back the hand of the clock against our cherished values is a morale booster.

“It shows that hard work pays and integrity has good rewards. For those taking shortcuts to help themselves, I equally charge you to retrace yourself to accountable conduct.

“The internal cleansing going on in the commission will spare no one.

“I will continue to stress the need for us to do the right thing. Integrity is the best preservation and assurance.

“Anything short of it is a disaster waiting to happen. Excellence is not about doing things right once in a while. It is about doing things right at all times.

“You need to continue to offer your best as the reward for hard work is no work.

“Government expects us to do more. Nigerians expect us to do more. And we cannot afford to fail,” he said.

During the ceremony, Alvan Gurumnaan was awarded an SUV car for emerging as the best staff member in 2024, while 35 others received cash awards for their outstanding performance.

The News Agency of Nigeria (NAN) reports that the Sokoto Zonal Directorate was also recognised as the Best Directorate in 2024.

The administrative block of the EFCC Academy, Karu, Abuja was also named after  Aminu Salisu, one of the operatives that lost his life during an operation in Akwa Anambra on Jan 17 (NAN) (www.nannews.ng)

Edited by Abdulfatai Beki/Kamal Tayo Oropo

Germany, UNDP inaugurate 1,900 IDPs resettlement houses in Borno

Germany, UNDP inaugurate 1,900 IDPs resettlement houses in Borno

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By Hamza Suleiman

German Ambassador to Nigeria, Annet Günther and Nigeria’s UNDP Country Representative, Elsie Attafuah, have unveiled 1,900 resettlement houses and an Information and Communications Technology (ICT) centre in Monguno Local Government Area of Borno.

The News Agency of Nigeria (NAN) reports that the projects were undertaken by the international partners in conjunction with the Borno State Government.

The initiatives also underscore their collaborative efforts to rebuild and stabilise communities impacted by insurgency.

Speaking at the inauguration, Günther commended Gov. Babagana Zulum of Borno for the initiatives, which she said would have a great impact on communities affected by insurgency.

“This housing project is a shining example of collaboration between the Borno State Government and international partners.

“Funding for the housing units comes from both the state government and international donors,” the envoy said.

Also speaking, the United Nations Development Programme (UNDP), Country Representative, said the projects aligned with the UN agency’s regional stabilisation efforts aimed at restoring peace and stability in the Lake Chad region.

”The facilities that we are commissioning today represents a model of collaboration among UNDP, Borno State Government and our development partners, particularly the Federal Government of Germany.
 ”We remain grateful for your strong partnership and financing which has ensured sustainable impact and resilience in Borno State and the Northeast region.
”I wish to specifically commend the Governor of Borno State for his sense of duty and commitment to the development and restoration of peace and stability to his state and people,” Attafuah said.
According to her, the state government has often reinforced RSF funding with state resources to accelerate development in conflict-affected communities of Borno State.
”I am pleased to state that of the 1,000 housing units that we are commissioning today, the state government and UNDP constructed 500 each.
”In addition, UNDP constructed 900 semi-permanent shelters and 375 solar-powered streetlights for improved community security, especially for women and children in night hours.
” Furthermore, the state government complimented with a modern vocational and skills acquisition centre to promote a holistic development and socio-economic welfare in the community,” the UNDP country representative said.
According to her, this initiative will help to uplift the dignity of the affected population, decongest IDP camps, as well as promote their safe and voluntary return.
She said that it would also create conducive environment for reintegration of repentant Boko Haram and associates, enhance socio-economic wellbeing of the host community and building community social cohesion and resilience.

Earlier, Zulum stated that “the housing estate consists of 1,000 Two-Bedroom Low-cost houses and 900 Semi-Permanent Shelters.’’

The governor said that the houses would be distributed to 1,874 households selected from 18 communities who had been living in IDP camps for years.

Zulum said that the German government funded the construction of 500 permanent housing units in 2020 and added 900 semi-permanent shelters in 2023.

According to him, the Borno government built another 500 houses and provided complementary amenities such as a health centre and solar-powered boreholes.

“A Letter of Agreement (LOA) was signed in 2020 under the RS German Initiative to kick-start the construction of 500 houses.

“In 2023, another LOA was signed under the RSF German reintegration funds, enabling the completion of the 500 housing units, 900 semi-permanent shelters, and the installation of 375 solar streetlights,” the governor said.

He added that the efforts would support the voluntary decongestion and eventual closure of IDP camps in Monguno, enabling smooth reintegration of displaced families in their ancestral homes.

Zulum commended the Governments of Germany, the UK, Sweden, the Netherlands, Egypt, and the European Union for their continued support, as well as the UNDP for its unwavering partnership in stabilising the region.

Other dignitaries at the ceremony included the Egyptian Ambassador to Nigeria, Mohammed Foud; Sen. Mohammed Monguno; the Deputy Humanitarian Coordinator, Esty Sotyoko; and Mathew Alao, UNDP Team Lead, Governance, Peace and Security.

Traditional rulers, community leaders, and residents of Monguno also attended the event.(NAN) (www.nannews.ng)
Edited by Abdullahi Mohammed

Anti-corruption war: Tinubu, EFCC’s unwavering efforts

Anti-corruption war: Tinubu, EFCC’s unwavering efforts

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By Isaac Aregbesola, News Agency of Nigeria (NAN)

Corruption, a scourge that has plagued humanity for centuries, has been aptly described as the “deadliest affliction of humanity after terrorism” by Ola Olukoyede, Chairman of the Economic and Financial Crimes Commission (EFCC).

This stark reality underscores the devastating impact of corruption on societies worldwide as it perpetuates poverty, inequality, and social injustice.

In Nigeria, where corruption has long been a pervasive problem, the government has declared an all-out war on this menace, with the EFCC at the forefront of efforts to combat it.

The appointment of the Olukoyede by President Bola Tinubu as the EFCC Chairman, thus showed a demonstration of renewed commitment to tackling this scourge.

This step brought to fore the statement by an anti-corruption crusader and rights activist, Femi Falana, who once said, “the fight against corruption is a fight for the soul of Nigeria”.

The deliberate choice of Olukoyede, a seasoned expert in combating fraud, to lead the anti-corruption efforts, set the tone to achieve this goal, as the Latin phrase “ex nihilo nihilo” suggests – nothing comes from nothing.

In other words, the achievements that followed weren’t mere coincidence. The impressive track records of the EFCC in its anti-graft war more than a year ago, under Olukoyede’s leadership, are a testament to the effectiveness of his appointment.

Under his leadership, the commission has made significant strides in tackling corruption, with a renewed focus on strengthening institutions, promoting transparency, and holding accountable those who engage in corrupt practices.

The commission has been at the forefront of the anti-corruption battle, working tirelessly to investigate, prosecute, and recover proceeds of corruption.

In the last one year, corruption and corrupt practices have reduced drastically, as hell is being let loose on those indulging in sharp and corrupt practices in the country.

The entire nation is lauding the EFCC’s fresh approach, which is in compliance with the international standards, to fighting corruption.
Even the toughest critics would agree that the EFCC’s track record shows that the government is making real progress in its fight against corruption.

The EFCC has undergone significant changes, and the results are already showing. Foreign investors are taking notice, and the local business community is feeling hopeful.

Notable among the achievements of the anti-graft agency in the last one year is the  record-breaking asset recovery of a 150,500-square-meter estate with 753 duplexes and other apartments in Abuja.

The achievements, according to Olukoyede, also include recovery of  over N248 billion, 105 million dollars and the securing of  3,455 convictions.

The commission within the year recovered N248, 750,049,365.52; $105,423,190.39; £53,133.64; €172,547.10; T1,300.00 Indian Rupees and CAD $3,400.00 Canadian Dollars.

It also recovered ¥74,859:00 Chinese Yuan; AUS $ 740:00 Australian Dollars; 170:00 UAE Dirham; 73,000:00 Korean Won; CFA 7,821,375:00 and R 50:00 South Africa Rands.

On asset recovery and return, the EFCC on Sept. 6, handed over to the Royal Canadian Mounted Police (RCMP) the sum of $180,300  and 53 vehicles, being assets recovered for Canadian victims of Nigerian fraudsters.

Also, to show its strong teeth against corrupt practices, a serving Minister of Humanitarian Affairs and Disaster Management, Betta Edu was suspended over alleged corruption for proper investigation.

She was suspended alongside the Chief Executive Officer of the National Social Investment Programme Agency, Halima Shehu, while some former ministers are also being investigated.

In the same vein, a former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, is being prosecuted over alleged multibillion naira frauds.

Similarly, the erstwhile Minister of Power and Steel Development, Olu Agunloye and ex-Minister of Aviation and Aerospace Development, Hadi Sirika are facing  prosecution.

Others are former Anambra governor, Willie Obiano;  former Kwara governor, Abdulfatah Ahmed; former Kogi governor, Yahaya Bello, former governor of Delta, Ifeanyi Okowa, and other former state and non-state actors are facing trial by the EFCC.

The commission has also realised that preventing corruption is more effective and cost-efficient than trying to combat it after it has taken root. To achieve this, the commission has established a new department called Fraud Risk Assessment and Control (FRAC).

FRAC’s mission is to identify vulnerabilities to corruption in government Ministries, Agencies, And Departments (MDAs), and to implement preventive measures.

One area of focus for FRAC is the contract and procurement processes in government institutions, which has been breeding grounds for corruption.

The commission has requested anti-corruption plans from these institutions, including the Presidency, National Assembly, and judiciary, to ensure that their processes are transparent and corruption-proof.

The EFCC has also put in place systems to track contracts and prevent the abuse of anti-corruption structures in public and private institutions. These practical measures demonstrate the EFCC’s commitment to preventing corrupt practices.

Overall, the EFCC’s new approach is yielding positive results. With the FRAC department in place, the EFCC is well-equipped to prevent corruption and promote a culture of transparency and accountability.

The anti-graft agency has also been aggressively fighting internet fraudsters, and its efforts have been highly effective. This success has made it difficult for critics to find fault with the commission’s work.

The EFCC has investigated and prosecuted a wide range of individuals and organisations, including internet fraudsters, politicians, business leaders, and government officials, demonstrating its commitment to fairness and impartiality.

In its effort to fulfill its mission, the EFCC has made significant changes to its approach. Today, the commission is more modern, humane, and professional in its operations, particularly when it comes to arrests and bail procedures, without compromising its professionalism and credibility.

This new approach marks a significant shift towards a more effective and sustainable way of combating corruption and financial crimes.

The onslaught against internet fraudsters is on the increase, this includes arresting 792 suspects in a day including 192 foreigners during a clamp down on largest cyber crimes centers in Abuja.

The Special Task Force against Naira Abuse and Dollarisation of the Economy has been working tirelessly to curb currency racketeering, securing over 50 convictions across various sectors of society within the first year of the current administration.

However, the EFCC has faced challenges, including fierce resistance from corrupt individuals and groups in the last one year plus.

Notable among them was the court case instituted by some state governors to scrap the agency, which was quashed at the Supreme Court.

This opposition is expected, as it underscores the commission’s effectiveness in combating corruption. Yes! It is public knowledge that corruption will definitely fight back viciously.

Every opposition to anti-corruption work is an affirmation of its potency and impact. Fortunately, the EFCC has received robust public support, demonstrating that Nigerians inherently reject corruption.

As Olukoyede aptly puts it, “Nigerians are not fundamentally corrupt. It is the operating systems that are breeding corruption!”

This sentiment echoes the widespread disillusionment with corruption and the desire for change. With the EFCC on track and public support growing, the prospects for a corruption-free Nigeria are becoming increasingly brighter.

Overall, the EFCC’s efforts have silenced its critics and demonstrated its effectiveness in fighting corruption. With the government’s support, the commission will continue to make significant strides in this fight.

However, some anti graft-experts opined that the agency needs to improve on its operations in certain areas, which include the rate of successful prosecutions and convictions of fraudsters other than internet, as well as reducing the number of cases that are dismissed or withdrawn.

It should also address the allegations of selective justice, ensure transparency within and corruption-free as well as addressing any internal corruption allegation promptly.

The anti-graft agency should also ensure whistleblowers and witnesses’ protection and also enhance public engagement and education as well as improving investigation techniques and forensic analysis.  (NANFeatures)

**If used please credit the writer and News Agency of Nigeria

 

 

 

 

Terrorism trials: FG secures 742 convictions, acquits 888 

Terrorism trials: FG secures 742 convictions, acquits 888 

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By Isaac Aregbesola

The Federal Government has secured 742  convictions and acquitted 888 suspects, for want of evidence from terrorism trials between 2017 and 2024 in the country.

Director of Public Prosecution of the Federation, Mohammed Babadoko, disclosed this in Abuja, at a news briefing on the Kanji trials and other terrorism-related issues on Monday.

The briefing was jointly addressed  the Coordinator of the National Counter-Terrorism Centre (NCTC), Office of the National Security Adviser (ONSA) , Maj.-Gen. Adamu Laka, the Director of Legal, ONSA, Zakari Mijinyawa and Babandoko.

The director of public prosecution of the federation explained that 1,722 cases were disposed  of in phases one to six of the terrorism trials in the country.

According to him, out of  the number, 742 were convicted, 888 acquitted, and 92 adjourned.

He said the terrorists received various sentences, ranging from life imprisonment and terms of 65 to 75 years, to the death penalty, depending on the severity of their crimes.

Babadoko stated that this achievement was in collaboration with relevant stakeholders and sector actors to ensure accountability for crimes committed by individuals.

“The Legal Aid Council, the Nigerian Police, the Correctional Service, and the Federal High Court came together to ensure the prosecution of suspects arrested either at the front lines in the Northeast, Southeast, or North Central.

“Between 2017 and the present, a number of suspects were prosecuted at Kanji.

“At the first phase of the trial, a total of 282 cases were disposed of, 50 of which resulted in convictions, 203 discharged for want of evidence, and 28 adjourned to Abuja for continuation of the trial in 2017,” he said.

According to him, in the second phase of the trial in 2018, a total of 804 suspects or cases were disposed of, out of which 203 were convicted and 582 discharged for lack of evidence.

“The other cases were adjourned to Abuja for continuation of trial.

“At the third phase of the trial, between 9th to 12th July 2018, a total of 224 cases were disposed of, out of which 113 were convicted, 97 discharged for lack of evidence, five acquitted, and nine cases adjourned for continuation of trial.

“At the fourth phase of the trial, in December 2023, a total of 25 cases were listed for trial, 14 were convicted.

“One was ordered to be sent to Operation Safe Corridor for Disarmament, Demobilisation, and Reintegration (DDR), and 10 cases were adjourned for continuation of trial,” he said.

Babadoko explained that in July 2024, a total of 253 cases were disposed of, out of which 125 were convicted, 85 were terrorism financing cases, and 22 involved International Criminal Court (ICC) criminalities.

“That is to say, there were crimes against humanity, and 22 cases were adjourned for trial.

“Now, at the sixth phase of the trial, two weeks ago, in December 2024, a total of 237 cases were disposed of, with about nine adjourned for continuation of trial.

“Some of these cases include acts of terrorism, terrorism financing, ICC criminalities, for which some of the defendants were sentenced to terms of imprisonment ranging from 60 to 75 years to life imprisonment.

“It is important to note that within the last year, the life of this administration, about 515 cases were disposed of.

“Over 800 who have served terms or were discharged and/or acquitted at the various stages of trial were moved to Operation Safe Corridor in Gombe for DDR in accordance with the orders of the court and the policy of the federal government”.

The NCTC director in his remarks noted that ”Nigeria is now more experienced in handling terrorism cases.”

Laka said that this development demonstrated the current administration’s commitment to human rights.

He noted that the current administration tried 550 suspects and secured 327 convictions in one year, while the previous administration handled 500 suspects over eight years.

“With the coming of this administration in one year, we have tried over 550.

“So, you can imagine by the end of this first term of this administration, we would have cleared maybe three or four times the number that was done in eight years of the last administration.

“So, I think Nigerians need to know how committed this administration is to human rights”.

Laka explained that at the initial stage, the country was learning the ropes in handling terrorism cases but had now grown more experienced in tackling extremism cases.

“We are partnering with some of our international partners, including UN agencies, on the training of troops in battlefield evidence collection.

“I think all Nigerians were novices when it comes to the issue of terrorism. Even our security and intelligence agencies were not as good as they are today.

“I think Nigeria has that experience now in the fight against terrorism,” he said. (NAN)

Edited by Tosin Kolade

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