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EFCC Returns $132,362, N78.5m To Foreign Fraud Victims

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1 month ago

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The Economic and Financial Crimes Commission (EFCC) says it has handed over a total sum of $132,362.43, N78,566,324.81 to American, Spanish and Swiss victims of local fraudsters.

The Commission described the move as a gesture of its commitment to tackling economic and financial crimes and offering restitution to victims of fraudulent practices.

According to a statement by the EFCC, the handover was performed by its Chairman, Ola Olukoyede, on Friday at the EFCC’s corporate headquarters in Jabi, Abuja.

It added that the delighted Olukoyede observed that, “The event is a demonstration of the commitment of the federal government of Nigeria and that of President Bola Ahmed Tinubu to the fight against corruption and financial crimes.

“A commitment to good governance, a commitment to stimulating the economy and a commitment to prove to the entire world that Nigeria is not a safe haven for financial crimes, a commitment to international cooperation and international synergy in the fight against financial crimes, which you will agree with me, has become a global crime.”

The statement also read, “We are here to demonstrate that the federal government of Nigeria, through the Economic and Financial Crimes Commission, EFCC is ready to do everything possible to prevent financial crimes from being perpetrated in our system. And when one has taken place, to investigate where assets are involved, to trace, to recover and where necessary, prosecute.

“We don’t just recover, we restitute the victims. We are here this morning to restitute those who were victimized through the perpetration of economic and financial crimes. It is important to know that once the proceeds of crime are recovered, the most responsible thing to do is to restitute the victims.

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“Handed over in addition to money are vehicles and real estate to citizens of Spain, the United States of America and Switzerland. Acting Ambassador of Spain to Nigeria, Maria Higon Velasco received the sum of $1,300 and evidence of N30 million already transferred to the Embassy of Spain in Nigeria for onward transmission to a victim, Maria Del Rosario San Jose.

“Florent Geel, Senior Political Officer, First Secretary, Embassy of Switzerland received $100,011.43 (One Hundred Thousand, Eleven Dollars and Forty-three Cents on behalf of a victim, Chantai Helene Lavancy, formerly known as Chantai Helene Maeder. Charles Smith, Legal Attache, Federal Bureau of Investigation, FBI, Embassy of the United States received the sum of $7,344 (Seven Thousand, Three Hundred and Forty-Four Dollars); N7,963,483.35 (Seven Million, Nine Hundred and Sixty-three Thousand, Four Hundred and Eighty-three Naira, Thirty-five Kobo), and Bitcoin cryptocurrency valued at $4,470.00 (Four Thousand, Four Hundred and Seventy Dollars) on behalf of the United States Embassy in Nigeria for onward transmission to a victim, Maria Jesus Brockell.

“Also received by Smith was Mercedes Benz E550 4Matic Chasis No: WDDHF9AB6AA111112, Mercedes Benz C450 AMG with Chasis No: WDD20J0641F282467, and one residential bungalow, located at 17/19 Seaman Street, Unguwar Maigero, Kaduna, Kaduna State on behalf of the United States Embassy in Nigeria for onward transmission to the crime victim.

“Additionally, Smith received the sum of $7,527 (Seven thousand, Five Hundred and Twenty-seven Dollars) on behalf of the United States Embassy in Nigeria for onward transmission to the victim of the crime, Michael Smith. He also received the sum of $11,710.00 (Eleven Thousand, Seven Hundred and Ten Dollars) on behalf of the United States Embassy in Nigeria for onward transmission to the crime victim, Cheryle Williams.

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“Lastly, Smith received the sum of N32,639,358.11 (Thirty-Two Million, Six Hundred and Thirty-nine Thousand, Three Hundred and Fifty-eight Naira, Eleven Kobo) on behalf of the United States Embassy in Nigeria for onward transmission to the crime victim, Marva Marrow.

In her remarks, her Excellency Velasco expressed gratitude, adding “This is a sign of the collaboration between Nigeria and Spain, and we are very grateful for this collaboration.” Smith said

“As the FBI Legal Attache and the representative of the US government, I want to say we personally appreciate this. Many here may not understand what the impact this has to the victims. This gives them complete closure and it allows them to feel whole again. So we really do appreciate and we thank the EFCC. The EFCC is just not operating in Nigeria. The EFCC is a major global contender, and you should recognize that every time.”

On behalf of the government of Switzerland, Geel thanked the government of Nigeria and EFCC for the recovery and restitution.

“I thank the Nigerian government and especially the EFCC for the work they have done to combat internet fraud and other financial crimes. Today’s restitution of money obtained from a Swiss citizen demonstrates the effectiveness but also integrity, professionalism, courage and collaboration that occur between Nigeria and Switzerland. So, thank you for this exemplary collaboration and work in making the digital world safer and better regulated. Switzerland will continue to work alongside the Nigerian government in the service of the security of our respective people. So, thank you again,” he said.

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The Permanent Secretary, the Foreign Affairs Ministry, Umar Ahmed, thanked Olukoyede for his efforts in the anti-corruption fight and conveyed the felicitation of the Honorable Minister for Foreign Affairs, Yusuf Tuggar and the ministry to the EFCC and the Nigerian government.

According to him, “This is really an unprecedented development, and you cannot believe the impact that this development will have on the mandate of the ministry, because it makes our work a whole lot easier because it really enhances the credibility of Nigeria in the international scene.

“And it will also go a long way in restoring investors’ confidence in the country. And the ministry is very well with you in pursuing this mandate and want to thank you for this initiative.

“It demonstrates the support of our President, Bola Ahmed Tinubu in the fight against corruption and also in strengthening the EFCC in carrying out its mandate. All of us in the ministry are really happy with this development and we’ll keep on working with you and supporting you and in carrying your mandate.”

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National

IMF urges Nigeria to focus on most vulnerable while stabilising economy

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5 hours ago

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March 28, 2025

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The International Monetary Fund (IMF) has urged the Nigerian government to accompany its economic stabilisation policies with targeted social welfare transfers to support the most vulnerable populations.

IMF Director of Communications, Julie Kozack, made this known during a routine press conference at the IMF headquarters in Washington, DC, on Thursday.

Kozack acknowledged the challenges many Nigerians faced and stressed the importance of prioritising support for vulnerable households.

“The authorities’ policies to stabilise the economy and promote growth are welcomed.

“However, they must be accompanied by targeted social transfers to support the most vulnerable populations. We recognise the extremely difficult situation that many Nigerians face,” she said.

She said that completing the rollout of cash transfers to vulnerable households and improving domestic revenue mobilisation should be key priorities for Nigeria.

Kozack also announced that IMF staff would visit Nigeria next week to prepare for the 2025 Article IV Consultation.

News Agency of Nigeria (NAN), reports that under Article IV of the IMF’s Articles of Agreement, the IMF conducts annual bilateral discussions with member countries.

As part of this process, a staff team visits the country, gathers economic and financial data, and engages with officials on economic policies and developments.(NAN)

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Tinubu Distorting Democracy, Weaponising Judiciary, Others – Prof Udenta

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10 hours ago

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March 28, 2025

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The founding National Secretary of the Alliance for Democracy, Prof Udenta Udenta, on Thursday, accused the Bola Tinubu Presidency of dismantling democratic values and weaponing the judiciary, and the 1999 Constitution (as amended) against Nigerians.

Prof Udenta, a distinguished fellow of the Abuja School of Social and Political Thought, said the suspension of Governor Siminalayi Fubara of Rivers State was a distortion of democratic institutions by the Tinubu government.

“The system that should protect democratic governance, you are weaponising them; the judiciary, the apparatus of the state, you are distorting, diluting and transmogrifying them in a way and manner that is shutting down democratic conversations.

“That is what you find as the legacy of the Bola Tinubu president and his political agents,” Prof Udenta said on Channels Television’s Sunrise Daily programme.

The scholar said dismantling democratic principles isn’t by shooting guns but by misusing democratic instruments like the constitution and the judiciary.

“When you abandon the foundational norms of democracy and then you begin to use instruments you acquired in power to dismantle the guardrails that govern the democratic system, then democracy dies.

“It is not by firing a shot that democracy dies or crumbles, it is leveraging the guardrails like the constitution, like what was done in Rivers State, to abort democratic rules,” he said.
The scholar also accused Rivers State Administrator, Vice Admiral Ibok-Ete Ibas (retd) of dismantling the levers of democracy with his suspension of all political appointees in the oil-rich state.

“You find the sole administrator strutting around Port Harcourt, dismantling democratic infrastructure,” he said.

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Prof Udenta described what is practised in Rivers State as a “hybrid regime which is a part of competitive authoritarianism” being deployed to “manacle the spirit of a nation and abort democratic institutions at all levels” including labour unions, media houses, political parties, and civil societies.

Prof Udenta regretted that the quality of the lives of Nigerians in the last two years has so depreciated. He lamented that there is widespread hunger and poverty in the land with escalating food inflation usurping the income of average Nigerians.

“There is poverty in the land, there is hunger everywhere, inflation is soaring, criminality and terrorism and all manners of insecurity pervade the nation, and the government is bemused like this current one,” he said.

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National

Bill To Create Prime Minister Office Passes Second Reading At Reps

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10 hours ago

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March 28, 2025

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A bill for an Act to alter the provisions of the Constitution of the Federal Republic of Nigeria, 1999, to provide for the office of the Prime Minister as head of government and the office of President as head of state and to provide for a framework for the mode of election to the said offices, has passed second reading in the House of Representatives.

It is among 32 Constitution amendment bills that scaled second reading in the House of Representatives on Thursday.

Also among the bills is a bill for an Act to alter the provisions of the Constitution of the Federal Republic of Nigeria, 1999, to provide for specific seats for women in the national assembly and state houses of assembly.

Another is a bill for an Act to alter the Constitution of the Federal Republic of Nigeria, 1999, to reduce the lengthy period for determination of pre-election petition matters and provide for the establishment of pre-election tribunals for pre-election matters and regulate the process of suspending a member of the national assembly from legislative duties.

A bill for an Act to alter the Constitution of the Federal Republic of Nigeria, 1999, to review the requirements that qualifies persons to be elected as president and vice-president of the Federal Republic of Nigeria, governors and deputy governor, passed second reading as well.

A bill for an act to alter the provisions of the Constitution of the Federal Republic of Nigeria, 1999, to review the status of the Federal Capital Territory as regards the election of the president of the Federal Republic of Nigeria and bills for the creation of Wan State and Gobir State also passed second reading.

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This brings the total number of Constitution Amendment Bills passed so far through second reading to 113.

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