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Yahaya Bello: “I Have Nothing To Hide” as He Responds to EFCC Invitation

Former Kogi State Governor, Yahaya Bello, has affirmed that he has nothing to hide as he honors an invitation by the Economic and Financial Crimes Commission (EFCC).

The former governor, who concluded his second term in office recently, was summoned by the EFCC over allegations related to financial misconduct during his time in office.

In response, Bello expressed his willingness to cooperate with the commission, maintaining that he respects the law and welcomes any opportunity to clarify the accusations against him.

In a statement released by his media team, Bello said,

“This decision was made after thorough consultations with my family, legal team, and political allies.

I believe in the rule of law and have always strived to uphold it in my personal and public dealings.

” He emphasized that the invitation is part of a process to ensure accountability and transparency, and he is ready to prove that he managed Kogi State’s resources responsibly.

Bello’s legal team also expressed confidence that the former governor will clear his name, stating that the allegations against him are politically motivated.

According to them, Bello had previously sought enforcement of his fundamental rights to prevent harassment and ensure that due process is followed.

They believe that by presenting himself to the EFCC, Bello will set the record straight.

Supporters of the former governor have rallied behind him, praising his decision to cooperate with the EFCC as a show of integrity and respect for Nigeria’s legal system.

His political allies argue that his willingness to face the investigation without delay demonstrates his commitment to transparency.

As the EFCC’s investigation proceeds, many are watching closely to see how the case will unfold, especially with Bello being a prominent figure within Nigeria’s political landscape. While the former governor has faced various criticisms during his time in office, his legal team insists that his administration was focused on development and the welfare of Kogi State’s citizens.

Bello, a member of the ruling All Progressives Congress (APC), has been in the spotlight due to his ambitious political career, which includes a presidential bid in the 2023 elections. His involvement with the EFCC adds to the ongoing scrutiny of former and current political leaders in Nigeria, many of whom have faced similar allegations after leaving office.

The EFCC, Nigeria’s top anti-corruption agency, has made it clear that it remains committed to investigating and prosecuting any individual, regardless of their political standing, if they are suspected of corrupt practices. Bello’s cooperation with the agency is likely to set a precedent for how similar cases involving political figures will be handled in the future.

As the former governor prepares to meet with the EFCC, he reiterated his stance: “I have nothing to hide. I am confident that the truth will prevail.” Whether his actions will lead to exoneration or further legal challenges remains to be seen, but for now, Yahaya Bello continues to assert his innocence in the face of public scrutiny.

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Nigeria’s Super Falcons Drawn Against Tunisia, Algeria, and Botswana in Group B of 2024 WAFCON

The Super Falcons of Nigeria will lock horns with Tunisia, Algeria, and Botswana in Group B at the 2024 Women’s Africa Cup of Nations (WAFCON).

The draw, which took place on Friday evening, was held at the Technical Centre of the Mohamed VI Football Complex in Sale, just outside Rabat, Morocco.

The prestigious tournament will see 12 of Africa’s finest women’s football teams battle for supremacy in a three-week final event scheduled to run from July 5 to July 26, 2025. Morocco, the host nation, will welcome the continent’s best players as they strive to lift the coveted trophy.

For the nine-time African champions, Nigeria, the tournament offers another opportunity to demonstrate their dominance in women’s football on the continent.

Placed in Group B, the Super Falcons are no strangers to their North African rivals Algeria and Tunisia, though their encounter with the latter will mark the first competitive meeting between the two teams in WAFCON history.

Nigeria has an encouraging record against Algeria, having recently defeated the Fennecs in a two-legged friendly encounter.

The victories have bolstered the confidence of Randy Waldrum’s squad as they prepare to extend their winning streak against Algeria in Morocco.

Botswana, another Group B opponent, will also be familiar territory for the Super Falcons.

In the last edition of the competition, Nigeria secured a narrow 1-0 victory over the southern African side in their group-stage clash.

However, Botswana will be determined to upset the odds and improve their record against the defending giants.

Tunisia, the second North African team in the group, will pose an interesting challenge for the Super Falcons. Though this will be their first competitive meeting at WAFCON, Tunisia’s steady progress in women’s football in recent years could make them a formidable opponent.

Elsewhere in the tournament, Group A features the host nation Morocco alongside Zambia, Senegal, and DR Congo. Morocco, the 2022 WAFCON runners-up, will be eager to capitalize on home advantage and challenge for the title.

Group C includes South Africa, the defending champions, who will face tough opposition from Ghana, Mali, and Tanzania.

The South Africans are aiming to retain their title after their historic triumph in the 2022 edition.

The 2024 WAFCON promises to deliver thrilling encounters and unforgettable moments as Africa’s elite women footballers converge in Morocco.

Fans of the Super Falcons will hope their team can reclaim the crown and further solidify their reputation as the powerhouse of African women’s football.

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Again, Naira gains massively against the US Dollars

The naira appreciated against the dollar in both the official and parallel foreign exchange markets, closing the week on a positive note as FX supply increased.

According to data from FMDQ, the naira strengthened to ₦1652.62 per dollar on Friday, an improvement from ₦1658.57 per dollar recorded on Thursday.

This represents a gain of ₦5.95 in the official market within a single day.In the last 48 hours, the naira has seen a cumulative gain of ₦35 against the dollar, signaling a rebound in the local currency’s performance.

This trend was also evident in the black market, where the naira firmed to ₦1750 per dollar on Friday, improving from ₦1755 per dollar the previous day.

The appreciation in both markets reflects a growing supply of foreign exchange and improved sentiment.

The uptick in FX supply was evident in the rise of transaction turnover in the official market. On Friday, FX transaction turnover increased significantly to $243.05 million, up from the $163.66 million recorded on Thursday.

This 48.5% surge in turnover highlights improved liquidity and market activity, which contributed to the naira’s recovery.

Despite the positive developments in recent days, a week-on-week analysis shows a marginal depreciation of the naira in the official market. Compared to last Friday’s exchange rate of ₦1652.25 per dollar, the naira lost ₦0.35, highlighting some lingering pressure on the local currency.

Nevertheless, the recent gains provide optimism for sustained recovery in the coming weeks.In the broader economic context, the Central Bank of Nigeria (CBN) reported an increase in the country’s external reserves, which rose to $40.277 billion as of November 20, 2024.

This marks a critical development, as higher reserves bolster the CBN’s ability to intervene in the FX market and stabilize the naira.

The naira’s improved performance can be attributed to several factors, including increased FX inflows, a more active interbank market, and efforts by financial authorities to boost dollar supply.

These efforts have eased pressure on the naira, particularly in the parallel market, where speculative activities had previously driven rates higher.

As Nigeria continues to address challenges in its FX market, the recent appreciation offers hope for a more stable exchange rate regime.

Market analysts, however, caution that sustaining this momentum will require consistent policy measures, increased foreign investment inflows, and further improvements in economic fundamentals.

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Edo govt declares over 200 vehicles missing

The Chairman of the Committee, set up by Gov. Okpebholo on Monday to recover government vehicles, Mr Kelly Okungbowa, declared that over 200 vehicles were missing on Friday.

He stated that the committee had within 24 hours recovered three vehicles in a private residence in Benin.

Okungbowa, who spoke to newsmen on the success of the committee’s assignment, said within 24 hours three vehicles including one Hilux van and two Toyota Hiace buses have been recovered.

He disclosed that in one of the Toyota Hiace buses, the committee recovered some palliatives which were meant to have been distributed to Edo people.

The chairman added that the palliatives included bags of garri and rice.

He appealed for more information from members of the public, adding that it was the information earlier obtained that led to the recovery of the three vehicles.

Okungbowa assured whistleblowers that a handsome reward awaits them provided their information were correct and verifiable.

“Yesterday, we were inaugurated, we promised to follow the law to carry out the mandate of Mr Governor which is to recover all missing government vehicles in private hands.

” We are glad to inform the people of Edo State that we have recorded success within 24 hours of our inauguration.

”I am glad to announce to you that we have recovered one Hilux and two Toyota Hiace buses in private custody.

“We assure Edo people and the State Government that we are going to do the job to the best of our ability. We will make sure we recover all the stolen vehicles.

“This is not private property but the property of Edo citizens and it is not good for a private individual to steal government property,” he said.

He appealed to former government officials and other citizens holding back government vehicles to return them within 48 hours.

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EFCC warns banks against fraudulent practices

The EFCC has warned banks against fraudulent practices

The Economic and Financial Crimes Commission (EFCC) has warned banks against fraudulent practices including making themselves available as instruments of fraud.

The Executive Chairman of the EFCC, Ola Olukoyede gave the warning on Friday, November 22, 2024 when the management team of Moniepoint, led by its founder and Group CEO, Tosin Eniolorunda paid a courtesy visit to the commission.

Olukoyede who spoke through his Chief of Staff, Commander of the EFCC, Michael Nzekwe noted that Nigerian banks over the years have become notorious as conduits of financial crimes.

Nzekwe advised that they should turn a new leaf for the sake of the growth of the country, saying: “There is hardly any financial crime that would not go through the financial institutions.

“Money laundering is a major issue and you find out also that the perpetrators go through the banks. Nigeria will be the greatest beneficiary when we do the right thing,” he said.

Addressing the Moniepoint delegation , he said: “Try as much as possible on your own to avoid any form of connivance and don’t be a channel for money laundering.

“Don’t be a tool, don’t make your system porous. You are a major stakeholder when it comes to the fight against corruption. We are open and would assist, however we can. No one is above the law.”

Olukoyede observed that there was a high level of poor internal control by fintechs at the level of the unbanked, the under-served and the middle class population spectrum.

“There’s quite a whole lot of fraud that goes around that particular level, so the issue of KYC (Know Your Customer) is very important, especially because of the issue of how fintechs open tier-one accounts, sometimes without attention to KYC,” he said.

“And people take advantage of this and are quick to commit fraud through this negligence. So, that’s one area you have to also look at to see how you can improve on your KYC.

“Increasing your level of collaboration with the EFCC would mean to see yourselves as stakeholders in the fight against corruption.

“We would like you to be able to respond to us when we make inquiries and when we make requests.”

Speaking further on the readiness of the Commission to collaborate with Moniepoint to get things right, Olukoyede said: “On our part, we are open to whatever it is that you want us to do.

“We value it that you are here today to seek a stronger tie and collaboration. When we have stakeholders come in and want to be part of what we are doing, majorly stakeholders like you, it gives us joy because we know that no one man can fight corruption alone.

“The collaboration you seek tells us that you want to strengthen your system; you want to be able to create more internal controls.

“You want to be able to put in place things that will mitigate those weaknesses that will lead to fraud within your system, that’s what we do.

“Our core mandate is enforcement and investigation of economic and financial crimes. So, we’re glad and wish to collaborate with you.”

Earlier in his remarks, Eniolorunda noted that the expansion in the operations and services of the fintech and microfinance company have come with challenges which have made the need for a strategic collaboration with the EFCC compelling.

“Moniepoint has over the years grown to become one of Nigeria’s largest payment service providers and the bank for mostly mid-class businesses and the under-served.

“Today, Moniepoint processes roughly 70% of Nigeria’s payments on Point-of-Sale (PoS) and transfers.

“We are present also in the U.K and we are going through some potential set-up also in Kenya, which is at an advanced stage with its Central Bank. And also in Tanzania.

“Of course, with all this growth comes also challenges. One of the biggest challenges is the nature of our country, where if people find the opportunity to make fast money, they will make fast money. 

“And we have realized that as Moniepoint is helping people make ends meet, these sorts of people are also trying to use Moniepoint channels  to achieve their criminal objectives.

“So, we are actively fighting, improving all the necessary KYC accounts, money laundering and fund protection systems, but we know that we can’t do this alone. 

“There are experts in a government organization like the EFCC that we believe we need to have a strategic relationship with to be able to fight these people together.

“There are intels that you see that we don’t see. There are many things that come across your desk, every day that we don’t see. 

“There are also things that we see that we think that if we should show to you, we will all be able to come together and fight these bad guys. 

“We have, over the years improved on many things; discover a lot of potential fraud, collaborated with law enforcement agencies. 

“With our whole management team, we will be able to find a strategic partnership with the EFCC that would take us to the next level. 

“So we need to quickly build stronger alliances to prevent any form of risks that will blossom into national security issue,” he said.

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Navy arrests suspected oil thieves in Akwa Ibom

The Nigerian Navy has arrested three suspected oil thieves in Akwa Ibom

The Nigerian Navy, Forward Operating Base (FOB), Ibaka, Akwa Ibom State has arrested three suspected oil thieves with 2,000 litres of Premium Motor Spirit (PMS), and 1000 cartoons of beer with the intention of smuggling to the Republic of Cameroon.

The Commanding Officer of the Base, Capt. Uche Aneke disclosed this while handing over the suspects, seized items and other goods to the Nigeria Security and Civil Defense Corps (NSCDC), Akwa Ibom Command on Friday.

Aneke said the suspected oil thieves were arrested on Wednesday, at about 7 pm, while on routine night patrol at Mbo River during stop-and-search.

“Navy intercepted a wooden laden with about 1,000 cartons of different brands of beer and other goods, upon thorough search own gunboat discovered 2,000 litres drums of PMS carefully concealed under the cartons with the intention of smuggling into the Republic of Cameroon,” he said.

He warned individuals or groups involved in smuggling or any form of criminal activity within Nigeria’s waters, urging them to desist immediately.

Aneke reaffirmed the Navy’s commitment to combating maritime crimes in the state under the leadership of Chief of Naval Staff, Vice Admiral Emmanuel Ogalla.

He also stated that criminal elements in the FOB Ibaka area of operations under the Eastern Naval Command Area of Responsibility would continue to be detected using advanced surveillance equipment and intelligence.

“Such criminals will be apprehended and duly prosecuted. Nigeria’s waters and the Nigerian coastal areas are not for illegal activities,” Aneke said.

Receiving the items, suspects and other goods, Mr Willie Sunday, Assistant Superintendent Corps, said the corps would further investigate and possibly prosecute the suspects.

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Labour Party Dismisses Allegations of Partnership with Tinubu for 2027 Elections

The Labour Party (LP) has refuted claims circulating on social media that its leadership is collaborating with President Bola Tinubu ahead of the 2027 general elections.

The allegations stem from a video where activist Deji Adeyanju alleged that the LP had entered into a partnership with Tinubu in preparation for the next presidential poll.

In a statement released on Friday, the National Publicity Secretary of the Labour Party, Mr. Obiora Ifoh, categorically denied the claims, emphasizing that the party remains committed to its role as a leading opposition force in Nigeria.

“The Labour Party has repeatedly and firmly denied any understanding or collaboration with the ruling All Progressives Congress (APC) regarding the 2027 elections,” Ifoh said.

He highlighted the party’s consistent criticism of the current administration under the leadership of its National Chairman, Barrister Julius Abure. “Our chairman has been at the forefront of opposing the government, critiquing its policies, and offering constructive solutions,” Ifoh stated.

The Labour Party, he noted, has undertaken several initiatives to strengthen its position as a credible opposition, including:Establishing an Electoral Reform Committee to advocate for credible, fair, and transparent electoral processes.

Creating a Political Education Committee to reorient citizens towards a more positive and informed approach to politics.

Launching an e-membership registration platform to deepen participatory democracy, which has already attracted thousands of subscribers.

“These efforts are aimed at repositioning the Labour Party as a formidable political force,” Ifoh said, describing the allegations as baseless and damaging.

He challenged Adeyanju and others making similar claims to provide concrete evidence of any alleged collaboration between the Labour Party and Tinubu or the APC.

“It is both irresponsible and absurd to attempt to tarnish the image of a party dedicated to reforming Nigeria’s political landscape,” Ifoh concluded.

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