Tag: Abdulrasheed Bawa

  • RMAFC uncovers $205m in revenue not remitted by oil firms

    RMAFC uncovers $205m in revenue not remitted by oil firms

    The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has disclosed the discovery of over 205 million dollars ($205,013,760) in revenues not remitted by some oil and gas companies operating in the country.

    TheNewsGuru.com (TNG) reports Mr Mohammed Bello, RMAFC Chairman made the disclosure when he paid a courtesy visit to the Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Abdulrasheed Bawa in Abuja.

    Speaking during the visit, Bello said that collaborations between the two agencies over the years had led to the recovery of more than N192 billion into the federation account.

    “This is made up of N74 billion covering 2008 to 2015, and N118 billion covering 2016 to 2019 monitoring and recovery exercises on revenue generating agencies including banks and companies.”

    Bello, however, said that this was in addition to the discoveries of over 205 million dollars ($205,013,760) from some companies in the oil and gas sector.

    The chairman said the companies refused to remit the same to the government coffers.

    They, however, sued RMAFC and EFCC with the claim that both agencies had no right, by law, to request for such a huge sum to be remitted into the federation account.

    During the visit, Bello reiterated commitments to strengthen its collaboration with the EFCC in the area of monitoring and tracking of all accruable revenue accruals from revenue generating agencies into the federation account.

    In his response, the EFCC Chairman said his commission was ready to strengthen its ties with RMAFC in increasing revenues for the nation while blocking leakages.

    This, according to Bawa, would be better achieved by prosecuting defaulting revenue generating agencies.

    Bawa also called for the re-examining of the delay in revenue remittance for timely payments from revenue generating agencies.

  • Sting Operation: EFCC arrests Kwara Yahoo boys, recovers cars, others

    Sting Operation: EFCC arrests Kwara Yahoo boys, recovers cars, others

    Following a sting operation, operatives of the Economic and Financial Crimes Commission, EFCC, have arrested 18 suspected Internet fraudsters, commonly called Yahoo Boys, in Ilorin, the Kwara State capital.

    The EFCC spokesman, Wilson Uwujaren, in a statement on Friday, gave the names of those arrested as Adeleye Ayodeji, Muhammed Ayub, Odelade Samuel, Sodiq Olanrewaju, Ola Francis, Adeniyi Damilare, Olalekan Samad, Tunde Ayodele, Zubair Buhari and Oladosu Naheem.

    Others were Olowokere Jamiu, Lawal Usman, Jamiu Abdulrasaq, Lawal Ahmed, Opeyemi Samuel, Alarape Ahmed, Kolawole Daniel and Ganiyu Taofeek.

    The EFCC spokesman said, “The suspects were smoked out of their hideouts at different locations following credible intelligence on the fraudulent activities of the fraudsters in Ilorin and its environs. Specifically, they were arrested at Sobi, Akerebiata and Las Vegas Estate, Asa Dam Road, Ilorin.

    “The suspects, who are mostly in their early 20s, included six students of renowned tertiary institutions in the state, a footballer, a fashion designer, a bitcoin dealer, a laundryman and an online gambler.

    “Upon arrest, five exotic cars, 32 different brands of mobile phones, eight laptops and other incriminating materials were recovered from them.

    The suspects will be charged to court upon conclusion of ongoing investigations.”

    TheNewsGuru.com (TNG) reports that The EFCC is a Nigerian law enforcement agency that investigates financial crimes such as advance fee fraud (419 fraud) and money laundering. The EFCC was established in 2003, partially in response to pressure from the Financial Action Task Force on Money Laundering (FATF), which named Nigeria as one of 23 countries non-cooperative in the international community’s efforts to fight money laundering. The agency has its head office in Abuja, Nigeria.

    On July 10, 2020, President Muhammadu Buhari approved the immediate suspension of Ibrahim Magu as acting chairman of the EFCC in a statement issued by the Office of the Attorney-General of the Federation, Abubakar Malami.

    President Muhammadu Buhari also approved that the EFCC Director of Operations, Mohammed Umar Abba, should take charge and oversee the activities of the Commission pending the conclusion of the ongoing investigation and further directives.

    On 16 February 2021 Abdulrasheed Bawa was nominated as substantive chairman of EFCC by President Muhammad Buhari.

  • Naira Redesign: EFCC places more Governors on watchlist

    Naira Redesign: EFCC places more Governors on watchlist

    The Economic and Financial Crimes Commission (EFCC) has said the number of governors on its watchlist has increased.

    The Chairman of the commission, Abdulrasheed Bawa, revealed this while briefing news men at the State House after meeting with President Muhammadu Buhari on Thursday.

    Bawa, who declined to mention the number of governors currently under the EFCC watch, also refused to reveal the identities of the governors.

    He noted that the commission is pleased with the redesign of the naira note, saying the policy would help the Central Bank of Nigeria, CBN control the monies in the system and enable more money for people to borrow.

    The EFCC boss added that the redesigning of the naira will cause the value of the dollar currently at 890 to crash to 200 naira.

    On the sting operations to the Bureau De Change (BDC) operators, Bawa informed that the operation was successful and huge recoveries were made.

    He urged Nigerians to embrace the new policy, while also encouraging citizens to take advantage of the whistle-blower policy.

    Recall that the EFCC had earlier revealed that three serving state governors are under monitoring over moves to launder cash through table payment of salaries to workers

    The EFCC boss said two of them were from the North, while the third one was from the southern part of the country.

    He noted that intelligence at the agency’s disposal revealed that the three governors had concluded plans to inject the money into the system through table payment of their state workers’ salaries.

  • Why we are going after BDC operators across Nigeria – EFCC

    Why we are going after BDC operators across Nigeria – EFCC

    The recent arrest of some Bureau De Change operators across the country especially in Lagos and Abuja by the Economic and Financial Crimes Commission (EFCC) is incidental to the Commission’s overall efforts in sanitizing the foreign exchange sector.

    TheNewsGuru.com (TNG) reports EFCC’s Director of Operations, Abdulkarim Chukkol stated this on Monday, November 14, 2022 while fielding questions on Good Morning Nigeria, a breakfast programme on the Network Service of the Nigeria Television Authority (NTA).

    Chukkol who represented the Executive Chairman, Abdulrasheed Bawa, was among eminent personalities invited to discuss the topic ‘’Sanitizing Ungoverned Operators in the Forex Sector”.

    According to him, EFCC’s arrest of BDC operators and currency speculators in the parallel market was not indiscriminate but a product of intelligence.

    “At EFCC, we work with intelligence and with other stakeholders; and when we talk of illegal forex operators you cannot just invite people on the street even though sometimes you could, but generally you do not have a choice but to make arrest”.

    He stressed that the Commission considers foreign exchange malpractice as an economic crime against the Nigerian state, adding that the Commission as far back as 2016 established a full-fledge Section known as Foreign Exchange Malpractices Section and for over ten years maintained visible “presence at all airports in the country to checkmate incidences of bulk cash movement outside Nigeria which is another aspect of this menace.”

    Through the Commission’s presence at the major gateway into the country, many arrests of cash smugglers have been made and humungous sums in foreign currencies recovered.

    “Some were arrested with excess of $6 Million (Six Million United States Dollars), others with $2 Million (Two Million United States Dollars) and we know that these huge sums were not meant to be used in buying goods but stolen monies being laundered out of the country,” he said

    Chukkol further stated that EFCC not only recovered some of these monies, but secured their forfeiture to the federal government, while the culprits were prosecuted.

    He emphasized the need for active inter-agency and stakeholder’s collaboration, pointing out that many of the over 6,000 registered BDCs do not belong to the Association of Bureau De Change Operators of Nigeria and therefore out of the orbit of regulators.

    “The CBN guidelines are clear regarding returns by BDCs, but how many of them do this,” he asked.

    Other discussants in the programme which includes Director of Monitoring Policy Department of Central Bank of Nigeria, CBN Dr. Hassan Mahmud, President, Association of Bureau De Change of Change Operators of Nigeria, Dr. Aminu Gwadebe, a finance and investment analyst, Niyi Akinsuji and a commentator on financial issues and Managing Director of Timeline Consult, Shuabu Idris in their respective contributions identified the issue of Nigeria being an import driven economy, lack of adequate penalty, shortage of trained manpower, and identification of what truly constitutes ‘black market’ beyond the institutional banking system as some of the problems bedeviling the fight against foreign exchange malpractice in Nigeria.

  • EFCC reacts over Court ruling sending Bawa to Kuje prison

    EFCC reacts over Court ruling sending Bawa to Kuje prison

    The Economic and Financial Crimes Commission (EFCC) has reacted to the Abuja High Court ruling that sentenced the Chairman of the Commission, Mr Abdulrasheed Bawa to Kuje prison over contempt.

    Justice Chizoba Oji of the High Court in Maitama committed Mr Bawa for contempt over his failure to comply with an order of the court directing the Commission to return seized assets comprising a Range Rover (Super charge) and the sum of N40 million to an applicant.

    However, the EFCC in a statement made available to TheNewsGuru.com (TNG) disclosed that the Commission had since returned the Range Rover to the applicant and that it had approved the process of the release of the N40 million in question.

    Reacting, the statement by the EFCC reads: “This ruling is surprising as it creates a wrong impression of the person of the Executive Chairman of the EFCC as encouraging impunity.

    “As far as the relationship between the EFCC and the judiciary is concerned, the Executive Chairman, Mr. Abdulrasheed Bawa has been an apostle of rule of law, due process, and close collaboration between the two institutions in justice administration.

    “As an investigator, and the only Chief Executive of a law enforcement agency who regularly goes to court, the Executive Chairman will not tolerate impunity or disregard any lawful orders of court.

    “Abdulrasheed Bawa, in his capacity as Executive Chairman of the EFCC since March 5, 2022, did not disregard any order of court.

    “For the benefit of the public, the said order of the FCT High Court was given on November 21, 2018, three years before Abdulrasheed became EFCC Chairman. This fact is germane as the contempt process is quasi criminal in nature and must be served on the person involved.

    “In this case, Bawa as incumbent chairman of the EFCC, was neither served form 48 nor form 49. Despite this fact, the Executive Chairman, upon being aware of the said order of November 21st 2018 had released the Range Rover in question to the Applicant on the 27th of June, 2022 and had approved the process of the release of the remaining N40m.

    “Taking into cognizance the procedural lapse in the contempt proceedings the commission has initiated a process to set aside the entire contempt proceedings and committal of the Executive Chairman for contempt.

    “Despite the discomfort of this ruling which is seemingly promoted by misinformation, the commission remains committed to working closely with the judiciary in furtherance of the fight against economic and financial crimes in Nigeria”.

  • BREAKING: EFCC Chairman, Bawa sentenced to Kuje prison

    BREAKING: EFCC Chairman, Bawa sentenced to Kuje prison

    Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa has been convicted and sentenced to Kuje prison.

    TheNewsGuru.com (TNG) reports Bawa was sentenced by a High Court in Abuja for contempt of court in relation to his agency’s failure to comply with an earlier order.

    In a ruling on Tuesday, Justice Chizoba Oji, held: “the Chairman Economic and Financial Crimes Commission is in contempt of the orders of this honourable court made on November 21st 2018 directing the Economic and Financial Crimes Commission, Abuja to return to the applicant his Range Rover (Super charge) and the sum of N40, 000,000.00 (Forty Million Naira).

    “Having continued wilfully in disobedience to the order of this court, he should be committed to prison at Kuje Correctional Centre for his disobedience, and continued disobedience of the said order of court made on November 21st, 2018, until he purges himself of the contempt.

    “The Inspector-General of Police shall ensure that the order of this honourable court is executed forthwith,” the judge said.

    Justice Orji rejected the arguments put forward by the lawyer to the EFCC, Francis Jirbo, to justify his client’s action.

    The ruling was on a motion on notice marked: FCT/HC/M/52/2021 filed by Air Vice Marshal (AVM) Rufus Adeniyi Ojuawo, a one-time Director of Operations at the Nigerian Air Force (NAF).

    Ojuawo had in the motion filed by his lawyer, R.N. Ojabo, in a suit marked: FCT/HC/CR/184/2016 complained that the EFCC declined to comply with the order, for the release of his seized property, made by the court in a judgment delivered on November 21, 2018.

    He was accused of corruptly receiving gratification to the tune of N40million and a Range Rover Sport (Supercharged) valued at N29,250,000 from one Hima Aboubakar of Societe D’Equipment Internationaux Nigeria Limited.

    But, in a judgment on November 21, 2018, Justice Idris discharged and acquitted Ojuawo on the grounds that the prosecution failed to prove its case.

  • EFCC hails CBN’s move to clampdown on currency hoarders

    EFCC hails CBN’s move to clampdown on currency hoarders

    The Economic and Financial Crimes Commission (EFCC) has applauded the move by the Central Bank of Nigeria (CBN) to redesign and reissue higher denominations of the Nigerian currency, the Naira.

    The CBN Governor, Godwin Emefiele, on Wednesday announced that the apex bank had obtained the approval of the Federal Executive Council to redesign and issue new N200, N500 and N1000 notes.

    According to Emefiele, the new notes will come into circulation by Dec. 15, 2022 while the old notes will no longer be accepted after Jan. 31, 2023.

    The EFCC Chairman, Mr Abdulrasheed Bawa hailed the move as “a well-considered and timely response” to the challenges of currency management in the country.

    Bawa said in a statement issued by Mr Wilson Uwujaren, EFCC’s spokesperson on Wednesday in Abuja, that the challenges of currency management has negatively impacted the country’s monetary policy and security imperatives.

    “The EFCC, the CBN and some other regulators in the financial sector have worked closely in the recent past to determine how best to stabilise the country’s monetary policy environment.

    “It is heart-warming that the CBN has demonstrated courage in taking this bold decision which I believe will bring sanity to the currency management situation in Nigeria”, he said.

    Bawa called on operators in the Nigerian financial services sector, especially deposit money banks and bureau de change operators, to work within the guidelines provided by the CBN  to ensure seamless withdrawal of the old currency.

    He warned that the EFCC would monitor the process to ensure that unscrupulous players and currency speculators and their cohorts among the BDCs do not undermine the exercise.

    The EFCC chairman also charged banks to be alive to their reporting obligations and not assist unscrupulous customers in laundering proceeds of crimes through their system.

    Bawa pointed out that the objectives of the CBN’s currency  redesign and reissuance were in tandem with the provision of the Money Laundering Prevention Prohibition Act 2022.

    The Act criminalises the conduct of cash transactions above a certain threshold.

    ISection 2 (1) of the Act states that, “No person or body corporate shall, except in a transaction through a financial institution, make or accept cash payment of a sum exceeding N5,000,000 or its equivalent in the case of an individual or N10,000,000 or its equivalent, in the case of a body corporate.”

    He expressed optimism that the new currency measure would encourage more Nigerians to embrace banking culture and acceptance of cashless transactions.

    Bawa recalled that the EFCC recently took operational action against currency hoarders in major commercial cities of Nigeria.

    “It is therefore pertinent to issue this stern warning to Bureau de Change operators to be wary of currency hoarders who would attempt to seize this opportunity to offload the currencies they had illegally stashed away.”

    He noted that currency hoarders readily made their hoard available to criminal enterprise.

    Bawa, therefore, said that the commission would spare no effort in bringing to book, any financial services operator who runs foul of extant laws and regulations.

  • EFCC Boss laments losing corruption cases on technical grounds

    EFCC Boss laments losing corruption cases on technical grounds

    Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Abdulrasheed Bawa has expressed concerns about corruption cases being lost to technicalities at various levels of court in the country.

    TheNewsGuru.com (TNG) reports Mr Bawa made this known on Monday in Abuja while giving his opening remark at a three-day capacity building workshop, themed; “Judicial Dynamism: A Key Factor in the Fight Against Economic and Financial Crimes”.

    Bawa stressed that such a development may serve as a disincentive to the fight against economic and financial crimes in the country and affect negatively the cherished image of and confidence in the Nigerian judiciary both locally and internationally.

    According to the EFCC Boss, corruption cases being lost on technical grounds have a way of building confidence in corrupt elements and negatively affect the cherished image of the judiciary.

    “As a Commission, we do not expect every judicial decision to go our way, but there are instances the EFCC and many Nigerians have been left at a loss about certain judicial decisions, where defendants who obviously have stolen our commonwealth and those who have aided and abetted them have been allowed to go home to enjoy their proceeds of crime on technical grounds.

    “This has the tendency of affecting negatively the cherished image of and confidence in the Nigerian judiciary both locally and internationally.

    “In the Commission, we hold the view that corruption is a plague that does not select its victims. Those stealing and abusing our common patrimony do not wish us well. Judges are as much victims of corruption as the ordinary man on the streets.

    “It is therefore in our collective interest that the gains of the fight against corruption are not reversed. This is also why we must aggregate fresh opinions and forge deliberate winning tactics and strategies to stem its ugly tide,” Bawa said.

    Meanwhile, reviewing the impact of the EFCC in the fight against economic and financial crimes in its 19 years of existence, the EFCC boss stressed that the Commission has carved a niche for itself with numerous milestones to its name.

    “However, in the little over a year that I have had the privilege to superintend, the Commission secured an unprecedented record of 2220 convictions. It is the highest ever in the history of the Commission and as I address you this morning, we have already secured 1222 convictions, thus far, this year”, he said.

    While commending the judiciary for its role in making the convictions record possible, the EFCC Chairman advocated for an enhanced welfare package for Judges and Justices.

    Other issues raised at the opening ceremony of the workshop are collaboration between the legislative arm of government and the judiciary in drafting and enacting laws, among others.

    TNG reports the capacity building workshop is being organised for judicial officers, corruption investigators and prosecutors.

    Senate President, Ahmad Lawan; Speaker of the House of Representatives, Femi Gbajabiamila; President of the Court of Appeal, Justice Monica Dongban-Mensem, and other top government officials graced the occasion.

  • EFCC debunks reports accusing its Chairman of visiting Lagos Chief Judge over a trial

    EFCC debunks reports accusing its Chairman of visiting Lagos Chief Judge over a trial

    The Economic and Financial Crimes Commission, EFCC, has debunked reports that its Chairman, Abdulrasheed Bawa, visit to the office of the Chief Judge of Lagos State, Hon. Justice Kazeem Alogba, was in connectiom to any trial but “a routine courtesy call”.

     

    This was against reports that the visit was shortly after the EFCC Chairman’s cross-examination in a N1.7 billion trial of the Managing Director of Nadabo Energy Limited, Abubakar Ali Peters, on 31st March, 2022.

     

    In a statement by the Commission’s Head, Media and Publicity, Wilson Uwujaren, EFCC condemned the publicatiion of Thisday Newspaper of Tuesday April 19, 2022,

     

    The statement, dated April 19, reads: “The attention of the Economic and Financial Crimes Commission has drawn to a story captioned, Controversy Trails EFCC Chairman’s Visit to Lagos CJ, which appeared in Thisday Newspaper of Tuesday April 19, 2022.

     

    “Thus, the visit by the EFCC Chairman to the chief Judge of the state was a routine courtesy call which should not be exploited by mischief makers to fan the embers of disaffection between the Commission and members of the Bench.

     

    “The Commission also frowns at the obvious design to draw a non-existent nexus between the visit and the ongoing case where Bawa has been in the witness box for over 5 years.”

  • BREAKING: EFCC grants Former Governor Willie Obiano bail

    BREAKING: EFCC grants Former Governor Willie Obiano bail

    Immediate past Governor of Anambra State, Willie Obiano has been granted bail, the Economic and Financial Crimes Commission (EFCC) has said.

    TheNewsGuru.com (TNG) reports the EFCC said Obiano was yet to meet his bail conditions and, therefore, still in custody.

    Chairman of EFCC, Abdulrasheed Bawa disclosed this on Monday in an interview with journalists in Abuja, the federal capital territory (FCT).

    He disclosed this to journalists on the sideline of the 5th Annual General Assembly (AGA) of the Network of Anti-Corruption Institutions in West Africa (NACIMA).

    “Although, he has been granted bail, we are waiting for him to perfect his bail conditions.” Bawa noted “he has been cooperating with us and everything is going on well,”

    TNG reports Obiano was arrested on Thursday at the Murtala Mohammed International Airport, Lagos and brought to Abuja on Friday morning.

    Obiano is being investigated for an alleged misappropriation of N42 billion belonging to Anambra State. Of the N42 billion, N5 billion is Sure-P money and N37 billion security vote. These were allegedly withdrawn in cash.

    The anti-graft agency boss insisted that there was nothing political about Obiano’s investigation.

    “There is nothing political about the investigation. You know what the EFCC stands for.

    “We investigate crimes. We look at people that have committed crime and we link it up together. Thereafter we go to court.

    “That is all we have been doing and that is what we will continue to do.

    “We have been accused of media trial. We will continue to do our investigations professionally, ” Bawa said.