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EFCC Chairman Olukoyede Hails Nigerians, Says Naira Not Abused Like Before Anymore

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Ola Olukoyede, the chairman of the Economic and Financial Crimes Commission (EFCC), has commended Nigerians for treating the naira a lot better lately.

The EFCC has stepped up its campaign against abuse of the naira since the turn of the year.

Recently, the agency secured the conviction and imprisonment of Idris Okuneye, popularly known as Bobrisky, for abusing the naira.

In April, Cubana Chief Priest, a socialite and nightlife promoter, was similarly arraigned for abusing the naira.

Speaking on EFCC radio in Abuja on Monday, Olukoyede, who was represented by Dele Oyewale, spokesperson of the agency, said the commission is working to ensure that extant laws are obeyed.

The EFCC chair said the naira is the country’s symbol and all hands should be on deck to safeguard it.

“If you go to parties, nobody is abusing the naira as it used to be because people know that it is no longer business as usual, people are now paying attention to what they have taken for granted, they now study the law of the land,” Oyewale said.

“So, we should applaud the courage of the executive chairman for choosing to restore the sanctity of our identity.

“We are carrying out this mandate by ensuring that laws that are already in place are duly obeyed and it takes courage to do this because attacks are coming left, right and centre.

“You can see that we are ahead, people are beginning to come to terms with the laws. Right now, we have got close to 50 convictions in this regard.”

Asked about what law backed the commission to prosecute anyone who abuses the naira, Olukoyede said section 7 (2) of the EFCC law empowers it to coordinate and enforce all laws regarding economic and financial crimes.

“Section 21 of the CBN Act also forbids currency abuse and the Central Bank of Nigeria has come out to advise Nigerians against the stapling, counterfeiting, selling, buying, spraying, writing, tearing, and mutilation of the naira note,” he said.

“In fact, even if you reject the naira, it is a crime and the likely penalty is stated in the CBN act: an imprisonment of nothing less than six months or a fine of N50,000 or both. So, ignorance of the law is not an excuse.”

The EFCC chair added that the agency is enlightening the public about these laws.

BIG STORY

Naomi Campbell Gets 5-Yr Ban From Being Charity Trustee In UK For “Using Funds On Spa Treatment”

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Naomi Campbell, the British supermodel, has been banned from serving as a charity trustee in England and Wales for five years.

The UK Charity Commission found that her charity, Fashion for Relief, was “poorly governed and managed financially” by its trustees.

The investigation, conducted from April 2016 to July 2022, revealed that only 8.5% of the funds raised were spent on charitable grants.

Additionally, charity funds were reportedly used for Campbell’s stays in luxurious hotels, spa treatments, and cigarettes.

Campbell responded to the findings in an interview, expressing her concern and claiming she was not aware of these expenses, as she had entrusted the charity’s management to a legal employer. She said, “I was not in control of my charity.”

Veronica Chou and Bianca Hellmich, other trustees, were also sanctioned.

Hellmich was banned for nine years for receiving unauthorized funds, while Chou was banned for four years.

Tim Hopkins, part of the investigation team, stated that Campbell and the other trustees had failed in their legal duties.

Approximately £344,000 has been recovered, and an additional £98,000 of charitable funds has been protected.

The recovered funds were used to make donations to other charities and settle liabilities.

Campbell founded Fashion for Relief in 2005 with the aim of relieving poverty.

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BIG STORY

Why Tinubu Shouldn’t Trust His “Kitchen Cabinet” — Former Communications Adebayo Shittu

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A former Minister of Communications, Adebayo Shittu, has advised President Bola Tinubu against trusting some of his closest advisors when it comes to recommending individuals for ministerial positions, particularly as he prepares for a cabinet reshuffle.

Shittu shared his insights during an appearance on Channels Television’s Politics Today programme on Thursday.

He highlighted that some members of the President’s kitchen cabinet, who should ideally seek out technocrats for ministerial roles, have their own vested interests and may only suggest candidates who align with their personal agendas.

“You cannot trust anybody, even if you are talking of kitchen cabinet,” Shittu remarked, noting that some current cabinet members have not met expectations.

He elaborated, “This will be the first time he (Tinubu) would be recruiting people from all parts of the country most of whom he may never have met in life.

But he may just be riding on the recommendation, perhaps, of interested power blocs within the party who would give information and sell their candidate for one reason or the other.”

Shittu emphasized, “Mr President has an opportunity to decide what he wants. If you are not there and if he does not tell you exactly what he wants, it would be very difficult but I think one failing in our system in this country is that when people are appointed, or about to be appointed, we don’t have a kind of orientation exercise which perhaps will take a week or two weeks to school those to be given jobs to understand the priorities of their employer.”

Since taking office, Tinubu has appointed 48 ministers as of August 2023, shortly after his inauguration.

The Senate quickly screened and confirmed these ministers. However, one minister, Betta Edu, faced suspension in January, while another, Simon Lalong, transitioned to the Senate.

Calls for a cabinet reshuffle have intensified, with many Nigerians expressing dissatisfaction over the performance of several ministers amid rising inflation, a challenging economic landscape, and increasing insecurity.

This week, presidential spokesman Bayo Onanuga indicated that the President would indeed be reshuffling his cabinet but did not specify a timeline for this reorganization.

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FG To Toll Lagos-Ibadan Expressway, Second Niger Bridge, Others — Works Minister David Umahi

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Minister of Works, Dave Umahi, announced that the Federal Government will begin tolling all major roads in the country upon the completion of construction and renovation projects.

During an Inter-Ministerial Press Briefing in Abuja, part of activities marking Nigeria’s 64th independence anniversary, Umahi mentioned that roads such as the Lagos-Ibadan Expressway, Second Niger Bridge, Abuja-Kano Road, and Makurdi-9th Mile would be tolled.

Umahi emphasized that tolling would generate significant revenue for the government, adding that private sector involvement is being sought to fund the construction and tolling of these roads.

He said that the Keffi-Makurdi Road would be the first to be tolled, and the Ministry of Works is working with the Ministry of Finance to implement a paperless payment system for tolls.

He assured that enhanced security, solar lighting, and reduced travel times on these roads would increase public confidence and encourage payment of tolls.

Umahi further stated that the current administration, under President Bola Tinubu, has taken a more professional approach to road development, treating it as an investment.

The administration inherited 300 damaged roads and bridges, and new construction projects will begin across the six geopolitical zones starting October 1, 2024.

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