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EFCC To Move Against Schools Charging Dollars, Other Foreign Currencies

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The Economic and Financial Crimes Commission (EFCC) has placed international schools charging tuition in dollars and other foreign currencies under surveillance as part of measures to reduce the pressure on the naira.

The Head, Media and Publicity, EFCC, Dele Oyewale, confirmed the development to one of our correspondents on Thursday,  and said the agency would clamp down on schools and other organisations charging foreign currencies.

He reiterated that it was illegal for schools, hotels and firms operating in the country to charge for services in foreign currencies.

He explained that the 7,000-man special task force on dollar racketeers operating across the EFCC zonal commands was monitoring the schools and other organisations that might be involved in the illegality.

In a move to curb the free fall of the naira against the greenback, the ant-graft agency in February summoned the proprietors of private universities and other schools charging tuition in dollars.

The task force also conducted several raids in Abuja, arresting currency traders suspected to be speculating against the naira.

Worried by the depreciation of the national currency, the Finance Minister and Coordinating Minister for the Economy, Wale Edun, had met with the Governor of the Central Bank of Nigeria, Yemi Cardoso and the EFCC Chairman, Ola Olukoyede, to proffer solutions to the naira crisis.

Speaking on Thursday, in response to questions about the agency’s efforts to address forex racketeering and stabilise the naira, the EFCC spokesman, Oyewale, said the task force was set up ‘’to ensure that those breaking the rules find their way back to the right path so that the wrath of the law will not be on them.’’

Oyewale said it was illegal for any business operating in the country to charge for its services in foreign denominations apart from the naira, vowing sanctions for any breach of the law.

He stated, “The task force is not just to monitor naira abuse alone but for the whole economy. So, the EFCC is working to ensure that those breaking the rules find their way back to the right path so that the wrath of the law will not be on them.

“Yes, everyone knows that it is illegal to charge in other denominations apart from the naira. Whether in Chinese or American currency, any transaction that is not denominated in naira in Nigeria, the EFCC is against it.

“So, the task force is in place to check that and Nigerians should be happy about that. It is not just schools, hotels but other entities across the country that are doing this must come back to the naira as our legal tender.’’

He added, “Naira is the symbol of our economy and everything that has to do with the economy in Nigeria must be done in naira.’’

Asked if the schools, hotels and other businesses under watch would be punished if caught violating the law, Oyewale responded, ‘’Certainly, they are aware that we are watching them.’’

The National Union of Teachers declared its support for the EFCC over the move to sanction erring international schools charging in dollars.

  • NUT Backs EFCC

The NUT President, Titus Amba, made this known in an interview with one of our correspondents in Abuja.

He said, “Though I am not meant to speak on this because these schools are private schools. However, it is necessary to note that this is Nigeria and if you are going to charge for services, it should be in the national currency which is naira.

“So, we support the EFCC on its mission. Acts like these are sabotaging the economy so we support the EFCC and the Federal Government wholeheartedly.”

The Executive Director of the Civil Society Legislative and Advocacy Centre, Auwal Rafsanjani, urged the government to review its memorandum of understanding with foreign schools and other businesses demanding payment in foreign currencies, noting that the economy was suffering on account of this.

“This cannot happen in the UK, it cannot happen in America, it cannot happen in any serious country. And that is why the economy is suffering because they have destroyed the value of the naira.

“So, we commend EFCC for rising to at least bring this issue to the public, because in the Memorandum of Understanding that they signed with the Nigerian government, there is nowhere the government permitted them to be charging in dollars. If there is anything like that, then we will need to seek reversal of that,” he said.

The group further asked the government to monitor the operations of all businesses demanding payment in foreign currencies.

Rafsanjani noted, ‘’Not only the foreign schools but even hospitals and real estate. Let the government review all those things, and if there were any fraudulent insertion of payment in dollars, the government should stop that as part of measures to revitalise the economy and our currency.”

Also weighing in on the matter, the National Coordinator of the Human Rights Writers Association of Nigeria, Emmanuel Onwubiko, stated that payment of dollars to foreign-owned institutions was unlawful, urging the EFCC and other relevant agencies to take action against the concerned organisations.

He said,  “The currency that we use in Nigeria is the naira, and there is no reason why any private institution or any service provider should charge their customers in a foreign-denominated currency because that is unlawful.

“That being the case, the relevant law enforcement authority is supposed to act decisively to ensure that this kind of illegality is brought to an end. It’s not something that should be allowed because it also affects the naira, it makes the naira to become somehow worthless.’’

Onwubiku challenged the EFCC, CBN and other agencies ‘’to wake up to save the naira from collapsing. ‘’

“It’s not something that the government should just sit down and watch, they should make sure that the naira gains its respectability in the comity of nations,” he insisted.

The Executive Director, the African Centre for Media and Information Literacy, Chido Onumah, on his part, said the situation was a pointer to the lack of a regulatory system to check the activities of foreign schools.

The situation, he said, has also placed a burden on the public school system, urging the government to reinvest in public schools.

The president of the Parent-Teacher Association of Nigeria, Haruna Danjuma, explained that the EFFC had the right to decide on such schools.

He said, “I understand these schools are set up for commercial purposes, they are not public schools. As PTA, we have not received any complaint from any parent from any of such schools that they are being charged in dollars. But is the Federal Ministry of Education not aware of all these? Is it okay with them? Will they say they know nothing about it? If EFCC wants to pick them up now, no problem they should do so. We represent public schools.”

 

Credit: The Punch

BIG STORY

BREAKING: Atiku Abubakar Resigns From PDP

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The presidential flagbearer of the Peoples Democratic Party in the 2023 general elections, Alhaji Atiku Abubakar, has officially withdrawn his membership from the opposition party.

Atiku submitted his resignation ahead of the 2027 general elections, following confirmation of his involvement in forming a new coalition known as the Alliance Democratic Congress.

The resignation was contained in a letter dated Monday, July 14, 2025, and addressed to the chairman of the PDP in Jada 1 ward, Jada Local Government Area, Adamawa State.

A copy of the letter was shared on X by the Special Assistant on Media to the former Vice President on Wednesday.

The letter stated, “I am writing to formally resign my membership from the People’s Democratic Party (PDP) with immediate effect.

“I would like to take this opportunity to express my profound gratitude for the opportunities I have been given by the party.

“Serving two full terms as Vice President of Nigeria and being a presidential candidate twice has been one of the most significant chapters of my life.

“As a founding father of this esteemed party, it is indeed heartbreaking for me to make this decision.

“However, I find it necessary to part ways due to the current trajectory the party has taken, which I believe diverges from the foundational principles we stood for. It is with a heavy heart that I resign, recognising the irreconcilable differences that have emerged.

“I wish the party and its leadership all the best in the future. Thank you once again for the opportunities and support.”

 

More to come…

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BIG STORY

EFCC To Appeal Ruling Acquitting Fayose Of Money Laundering Charges

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The Economic and Financial Crimes Commission (EFCC) says it will challenge the judgment that cleared Ayodele Fayose, former governor of Ekiti state, of money laundering and fraud accusations.

In his decision on a no-case submission, Justice Chukwujekwu Aneke ruled that the prosecution did not provide enough evidence to require Fayose to present a defence.

After the judgment, EFCC counsel Rotimi Jacobs stated that the commission would obtain the certified judgment and begin the appeal process.

Fayose and his company, Spotless Investment Limited, had been re-arraigned on an 11-count charge of laundering ₦6.9 billion, allegedly during his time as governor.

The charges included allegations that Fayose received ₦1.2 billion for his 2014 campaign and accepted $5 million in cash from Obanikoro, bypassing standard banking procedures.

He was also accused of laundering several sums and using over ₦1.6 billion to purchase properties via proxies and firms such as De Privateer Ltd and Still Earth Ltd, contrary to the Money Laundering (Prohibition) Act, 2011.

During the May 19 no-case submission, Kanu Agabi, Fayose’s lawyer, argued that the prosecution failed to prove its case and pointed out that Abiodun Agbele, allegedly central to the transactions, wasn’t charged, which weakened the EFCC’s position.

“With due respect, the predicate offences do not hold water. Criminal breach of trust and conspiracy are distinct offences, and no co-conspirator was charged,” Agabi stated.

He asked the court to find that Fayose had no case to answer.

Olalekan Ojo, lawyer for the second defendant, also submitted a separate no-case application dated March 21, 2025, with supporting documents filed on May 16.

Ojo contended that the main evidence provided by the prosecution, particularly Obanikoro’s testimony, was unreliable since he confirmed there was no direct communication between Fayose and Sambo Dasuki, the former national security adviser.

Jacobs, however, urged the judge to dismiss the no-case submissions, arguing that there were unexplained financial activities that needed clarification.

He questioned why Fayose didn’t use his personal account if the money was legitimate, referencing EFCC investigator Abubakar Madaki’s claim that Fayose acquired properties through associates who later denied ownership, even though Fayose admitted the properties were his.

“If the money was clean, why not buy the properties in his name?” Jacobs asked.

He also referred to Obanikoro’s account that Fayose requested the money in cash and introduced Agbele to receive it, saying Fayose must explain these actions.

Despite these arguments, the court ruled in favour of the defendants and granted the no-case submission.

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BIG STORY

Terrorist Group Fethullah Using Schools, Health Services As Cover In Nigeria — Turkish Envoy Mehmet

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The Turkish government has raised concerns about the presence of a terrorist group known as the Fethullah Terrorist Organisation operating in Nigeria and other countries across the globe.

Mehmet Poroy, the Turkish Ambassador-designate to Nigeria, stated that the group uses educational and health services to disguise its activities in Nigeria.

Poroy made this known on Tuesday night in Abuja during a dinner organised by the Turkish Embassy to commemorate Turkey’s Democracy and National Unity Day.

According to the News Agency of Nigeria, the event is held every year in remembrance of the failed July 15, 2016 coup in Türkiye, which the Turkish government attributes to FETO.

The Turkish government said the coup attempt was foiled through the collective resistance of patriotic citizens and government forces loyal to President Recep Erdoğan.

Poroy said members of the Gülen movement, which backed the coup, are still being apprehended around the world, and their operations in any country pose a serious threat.

“They are still being captured and arrested today. The presence of such an organisation poses a threat to every country in which it operates.

Unfortunately, the FETO terrorist organisation still maintains its activities in Nigeria, particularly in the fields of education and healthcare.

We consistently inform our Nigerian friends about the nature and dangers of this organisation, and urge them to remain vigilant and cautious,” Poroy said.

He explained that Turkey, through global partnerships, has successfully dismantled many FETO-linked cells and networks in allied countries.

Poroy added that many institutions, particularly schools associated with FETO, have been taken over by Turkish authorities.

However, he warned that the group’s international operations are still largely intact.

“The fact that new investigations and arrests into the organisation continue to be launched demonstrates the need for this struggle to be pursued with unwavering determination.

In several countries, including Nigeria, FETO continues to pump its operations under the guise of humanitarian aid, education, healthcare, and interfaith dialogue.

You must not forget that behind this humanitarian appearance lies an organisation that seeks to infiltrate the political and bureaucratic institutions of host countries,” Poroy warned.

The News Agency of Nigeria noted that the Gülen movement, known in Turkish as Hizmet (Service), is said to be a global religious, social, and educational movement founded in the late 1950s.

Its leader, Fethullah Gülen, a Turkish Islamic cleric, died as a fugitive in the United States in October 2024 at age 83.

The Turkish government has accused Gülen of orchestrating the 2016 coup, which resulted in the deaths of at least 251 people, and has since classified the movement as a terrorist organisation.

Nearly a decade later, Türkiye is still pursuing a wide-reaching crackdown on the group, maintaining that it continues to operate worldwide, despite the movement’s denial of being a terrorist organisation.

Türkiye has confiscated or frozen assets tied to Gülen globally, including schools, charities, companies, and associations.

The News Agency of Nigeria also reported that bodies like the Organisation of Islamic Cooperation, the Gulf Cooperation Council, as well as countries such as Pakistan and Northern Cyprus have labelled FETO a terrorist group.

 

Credit: NAN

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