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BREAKING: EFCC Detains, Interrogates Emefiele Barely An Hour After DSS Frees Former CBN Governor

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Former Governor of the Central Bank of Nigeria, Godwin Emefiele, is currently being detained in the custody of the Economic and Financial Crimes Commission.

According to The Punch, Emefiele, who is currently being interrogated at the National Headquarters of the anti-graft agency in Jabi, Abuja, was picked up by EFCC operatives Thursday night, less than an hour after he regained his freedom from the dungeon of the Department of State Services.

An impeccable source revealed the development on Friday morning, noting that the EFCC is probing Emefiele over alleged impropriety during his term as the head of the apex bank.

“Yes, Emefiele is currently in our (EFCC) custody; he was arrested last night less than an hour after the DSS freed him. He’s currently being interrogated at the Headquarters, as he’s being investigated for alleged misappropriation of funds amongst other things during his term as CBN governor,” the source noted.

It was further gathered that fresh charges may be filed against Mr Emefiele by the EFCC.

Recall that Emefiele had been in the custody of the Department of State Services since June after President Bola Tinubu suspended him from office.

He was thereafter asked to transfer his responsibilities to Folashodun Adebisi Shonubi, then deputy governor, operations directorate at the apex bank.

A day after, the DSS announced that Emefiele was in its custody for ‘some investigative reasons’.

On July 25, he was arraigned on a two-count charge bordering on “illegal possession” of firearms at a federal high court in Lagos and was granted bail in the sum of N20 million.

The two-count charge was later struck out on August 17 after the Federal Government withdrew the same.

However, a fresh 20-count charge was instituted against him over an alleged conspiracy to carry out procurement fraud, among others.

The arraignment has been stalled twice, and Emefiele was reported to have proposed a plea bargain agreement with the Federal Government.

The proposed agreement required Emefiele to resign as CBN governor and ‘disgorge’ some assets.

However, on September 22, the CBN officially confirmed Emefiele’s resignation after Olayemi Cardoso was appointed as substantive governor of the apex bank.

 

Credit: The Punch

BIG STORY

Agric Ministry Declares Three-Day Prayer, Fasting For Food Security

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The federal ministry of agriculture and food security has announced a three-day programme of fasting and prayer aimed at seeking divine intervention for the country’s agricultural sector.

An internal circular dated June 11, seen by TheCable, and signed by Adedayo Modupe, director of human resource management, stated that the spiritual activity is meant to request God’s guidance in Nigeria’s pursuit of food security.

Modupe stated that all staff members are expected to participate in the fasting and prayer sessions.

“This is to invite all staff of the federal ministry of agriculture and food security to a solemn prayer session for God’s guidance and success in supporting the government’s efforts to achieve food security,” the circular reads.

The session is themed “Divine Intervention for Protection and National Development”.

The circular noted that the prayer sessions will be held at Conference Hall ‘B’ of the FMAFS headquarters in Area 11, Garki, Abuja, from 12:00 p.m. to 12:30 p.m. on each scheduled day.

Staff are expected to fast on Monday, June 16, and continue on June 23 and June 30.

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Wike Defends N39bn Renovation Of Abuja International Conference Centre, Says “We Have Taste”

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Nyesom Wike, the minister of the Federal Capital Territory, has responded to criticisms regarding the N39 billion renovation of the Abuja International Conference Centre, saying those who are opposed to the project “do not have good taste”.

He made these remarks on Friday during the commissioning of the newly built left-hand service carriageway in Abuja.

Back in March, Wike disclosed that the FCT administration allocated N39 billion for the renovation of the centre, which has now been renamed in honour of President Bola Tinubu following its commissioning on Tuesday.

The renovation has sparked public backlash over the amount spent on the project.

As reported by Channels Television, Wike stated, “The only thing in that International Conference Centre that was not changed is just the block work.”

He continued, “Everything in that Bola Ahmed Tinubu International Conference Centre was changed.”

Wike emphasized that Nigeria must reflect its status as the Giant of Africa in both substance and appearance. He said, “Nigeria, as the Giant of Africa, must not only show that it is the giant of Africa; people must see what makes you to be the giant of Africa. Nobody who loves this country would criticise the International Conference Centre.”

He addressed the argument about the naming of the centre, noting, “They said we did not name the International Conference Centre after someone who built it. Nnamdi Azikwe International Airport was not built by Nnamdi Azikwe. Moshood Abiola International Stadium was not built by Moshood Abiola.”

Wike also countered claims that the centre, originally constructed for N240 million in 1991, should not have required N39 billion for refurbishment in 2025.

He responded, “What was the exchange rate in 1991? Compare the exchange rate to what we have in 2025.”

He stressed his commitment to quality, stating, “We have taste; we want the best for the country, and the president has given the best for the country.”

Wike concluded by defending his loyalty to the president, saying, “If you did not do well to defend your boss when you had the opportunity, it is your business. I am here, and I will defend my boss.”

“I have done it, and I have no regret at all.”

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EFCC Arraigns Sun Trust Bank MD, ED Halima Buba Over Alleged ‘$12m Fraud’

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The Economic and Financial Crimes Commission has charged Halima Buba, the managing director and chief executive officer of SunTrust Bank Ltd, with allegations of money laundering.

Buba appeared before Justice Emeka Nwite of the federal high court in Abuja on Friday, alongside Innocent Mbagwu, the bank’s executive director and chief compliance officer.

They are facing a six-count charge from the EFCC, which accuses them of laundering up to $12 million.

According to the commission, Buba and Mbagwu were involved in the unlawful handling of large sums of cash on several occasions, bypassing financial institutions in violation of Nigeria’s money laundering regulations.

One of the charges alleges that on March 10, 2025, in Abuja, the two assisted Femi Gbamgboye in paying $3 million in cash to Suleiman Muhammed Chiroma and his associates.

The funds were allegedly handed over without using a financial institution, breaching the Money Laundering (Prevention and Prohibition) Act, 2022.

Another charge claims they arranged another $3 million in cash to be delivered on March 13, 2025, in Lagos to Mukhtar Miko, who is said to be an associate of Chiroma, also without routing it through a bank.

Buba and Mbagwu denied all allegations when arraigned.

After their plea, lead EFCC counsel Rotimi Oyedepo informed the court that the commission was ready to proceed with trial and requested an expedited process.

Defence lawyer J.J. Usman asked the court to grant bail based on an application submitted on May 27.

Oyedepo challenged the request, stating that the defendants were not in custody when they filed the application and should not be permitted to seek bail while outside detention.

He urged the court to dismiss the existing application and require new bail submissions.

After considering arguments from both sides, Justice Nwite approved bail for each defendant in the sum of N100 million, with one surety each of the same amount.

The sureties must have landed property in Abuja, submit the property documents to the court, and provide their passports along with two recent passport photos.

The judge ruled that the accused be held in a correctional facility until they fulfill their bail conditions and scheduled the trial to continue on July 17 and 18.

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