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EFCC: AS THE NATION AWAITS THE SUPREME COURT By Tunde Nasir

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EFCC: AS THE NATION AWAITS THE SUPREME COURT

By Tunde Nasir

Since the new EFCC Chairman, Olanipekun Olukoyede assumed office about one year ago, the fight against corruption, financial and cyber crimes, has taken a new heightened and reinvigorated dimension to the admiration of those who are genuinely concerned about fighting the cankerworm of corruption that has bedeviled our nation almost to a standstill.

Ola Olukoyede, a Pastor, seems to be following the Biblical injunction, as he declared from the outset his intention to combat the evil of corruption vigorously as a means of fostering economic development of the nation.

Perhaps, following the promise of God in Joel 2:25: “I shall restore to you the years of the locust, the cankerworm and the caterpillar have eaten…”

However, knowing the certification, experience, prowess and international connection that Olukoyede was armed with and bringing into the office, it was not surprising that opposition to his appointment started as soon as his name was announced by President Tinubu on October 12, 2023 and his confirmation by the Senate on October 18, 2023. Those who did not object to Olukoyede’s previous appointments as Chief of Staff to the Chairman of EFCC and also as a Secretary to the Commission, suddenly turned around to say that he was not qualified to be appointed as chairman!

However, Olukoyede has continued to soldier-on, delivering on his mandate, undeterred and undaunted. Within 12 months, a record 3,455 convictions were secured and monetary recoveries from October 2023
to September 2024 stood at
N248,750,049,365.52 (Two Hundred and Forty-Eight Billion, Seven Hundred and Fifty Millon, Forty- Nine Thousand, Three hundred and Sixty-Five Naira, Fifty-Two Kobo), $105,423,190.39 (One Hundred and Five Million, Four Hundred and Twenty-Three Thousand, One Hundred and Ninety Dollars, Thirty-Nine Cents) and £53,133.64 (Fifty-Three Thousand, One Hundred and Thirty- Three Pounds, Sixty-Four Pence); apart from recoveries in other foreign currencies.

On the Issue of corruption trials, Olukoyede revived or initiated court cases against high-profile politically-exposed persons, including former Ministers and Governors. Among the politically-exposed personalities who were hitherto considered untouchable and now on trial for corruption are former governors Yahaya Adoza Bello(Kogi), Abdulfatah Ahmed (Kwara), and Darius Dickson Ishaku (Taraba). Former Ministers Saleh Mamman and Olu Agunloye have been put on trial too.

Correspondingly, the Commission has faced the biggest ever campaign of calumny, blackmail, public protests by sponsored NGOs, simulated attacks in the media and well-oiled, sponsored litigations to undermine the operations of the Commission and its unrelenting Chairman.

Chief among the litigations against Commission is the lawsuit initiated at the Supreme Court by Kogi State Government challenging the establishment and constitutionality of the EFCC. The suit, according to the plaintiff, posited that the establishment of EFCC was an affront on principles of federalism.

About 15 other states reportedly joined Kogi State in the suit and asked that their grievances against the EFCC be consolidated. There have also been comments and actions for and against the court action instituted by Kogi State Government and its collaborating governors.

A former President of the Nigerian Bar Association (NBA), Dr. Olisa Agbakoba (SAN), has written to the National Assembly about constitutional issues related to anti-corruption agencies in Nigeria and factors inhibiting the government’s objective of abolishing corruption, as stated in Section 13 of the Constitution.
In two separate letters to the Senate and House of Representatives, dated October 14, 2024, he said the Economic and Financial Crimes Commission (EFCC) was “an unlawful organisation that he believed was unconstitutionally established.”

However, in the contrary, respected lawyer and Senior Advocate of Nigeria, Femi Falana (SAN), countered Agbakoba. Falana said: “For me, the ICPC and the EFCC like the Code of Conduct Tribunal (CCT) have come to stay. What we should be demanding are measures to make these institutions autonomous and not under the control of any government,”

He added: “And the Supreme Court has maintained rather repeatedly concerning the EFCC and ICPC, that these are crime fighting bodies, and should not be under the control of the Federal Government. They are agencies to fight economic crimes in our country, to fight financial crimes in our country, to fight corruption in our country.”

However, with the controversy generated by the Kogi State’s suit against the EFCC and its discussion in the court of public opinion, some states who initially applied to join the suit have beaten a quick retreat, applying to the Supreme Court to withdraw from the suit. Among the states that have withdrawn are Jigawa, Anambra, Adamawa, Ebonyi and Benue states, who have separately filed motions before the Supreme Court, saying they are no longer interested.
In the case of Benue State, Governor Hyacinth Alia suspended the State’s Attorney-General and Commissioner for Justice, Bemsen Mnyim, for acting “unilaterally in joining the suit without the approval of his principal.”
The development came on the heels of the declaration by the Zamfara State Governor, Dauda Lawal, that the state was neither aware nor part of the suit challenging the legality of EFCC.

In the case of Ogun State, the Attorney-General and Commissioner for Justice, Mr. Oluwashina Ogungbade denied ever initiating any case or being part of Kogi State’s suit against the EFCC.
Speaking to newsmen in Abeokuta, Ogungbade wondered why some sections of the media continued to include Ogun state in the list of the states in court against the EFCC.

“We don’t have a suit against EFCC. We never filed any action against EFCC challenging its constitutionality. We already issued a statement to that effect clarifying that we never had any suit attacking the EFCC’s constitutionality and that we did not join the suit filed at the Supreme Court filed by some other states in that regard. So, I am surprised that some media outlets are still running reports that include and mention Ogun State as one of the states challenging the EFCC’s existence when that is not the case.“

According to the statement by Ogun State government, “the constitutionality of the EFCC and the Independent Corrupt Practices Commission (ICPC) had since been determined by the Supreme Court, and Ogun State considers discussions on the issue closed.”

The Ogun State government stated that it had “no factual reason or recent development to reopen the question of the EFCC’s constitutionality.”
It added that “as a federating unit with law enforcement agencies of its own, it had no desire to undermine the Federal Government’s law and order objectives.”

One of the vociferous anti-corruption groups, the Vanguard for Credible Representation (VCR) has lauded those states that have withdrawn from the Kogi’s suit against EFCC at the Supreme Court. In a statement signed by VCR’s Head of Mission, Onche Ugbabe, the group said it was “heartwarming that some state governors were dissociating themselves from the suit and lending their support to the fight against corruption.”

The statement reads: “It is heartwarming that Governors Hyacinth Alia and Dauda Lawal have publicly dissociated themselves from the suspicious move orchestrated by some state governments. We also commend the Governments of Anambra, Adamawa and Ebonyi states for heeding the voice of reason and withdrawing from the suit.”

The group hailed erudite lawyers like Mr. Femi Falana SAN and Kayode Oladele who have faulted the suit and its backers.
“It is highly gratifying that erudite lawyers like Mr. Femi Falana SAN and Hon. Kayode Oladele have publicly condemned the unpopular move, citing a plethora of judicial decisions of the Supreme Court on the legality of the anti-corruption agencies.

“It is in the light of this that all well-meaning individuals and institutions should lend their support to the war against corruption and not seek to thwart it by any scheme or schism,” the group said.

As the nation awaits the Supreme Court verdict, it is expected that more Governors will see reasons and withdraw like others who are not participating, or have withdrawn from the suit. As at now, there are more state governments that have distanced themselves from the suit than those who are before the Supreme Court. The bell ticks!

Tunde Nasiru, a Public Policy Advocate based in Abuja, sent this through [email protected]

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Ambassador Ajadi Extols Mrs. Oyindamola Ajadi’s Virtues on Her Special Day

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Ambassador Ajadi Extols Mrs. Oyindamola Ajadi’s Virtues on Her Special Day

 

 

In a heartwarming celebration filled with love, prayers, and admiration, one of the strongest members of Team Makinde and the Chief Executive Officer of Bullion Records, Ambassador Olufemi Ajadi Oguntoyinbo, has celebrated his beloved wife, Mrs. Oyindamola Ajadi, on the occasion of her birthday today, Saturday, May 9, 2026.

 

 

Speaking during a private prayer session held in the early hours of the morning at his residence, Ambassador Ajadi described his wife as a rare gem whose unwavering love, support, and devotion have remained a pillar of strength in his personal and professional journey.

 

“Behind a successful man, there must be a good woman,” Ambassador Ajadi said while expressing gratitude to God for the gift of his wife. “Oyindamola embodies kindness, passion, patience, loyalty, and perseverance. Today, as she celebrates another beautiful year of life, I am reminded once again of how blessed I am to have her beside me.”

 

The businessman and politician further poured out emotional and romantic birthday wishes to his wife, appreciating the joy and peace she has brought into his life.

 

 

 

“Happy birthday to you, my darling,” he said. “I celebrate your special day with my heartfelt, romantic, and sweet wishes that make you feel cherished and deeply loved. My love, every year with you is better than the last. Happy birthday to the one who makes my heart skip a beat. Love you forever.”

 

Ambassador Ajadi also offered fervent prayers for his wife, asking God to continually guide, protect, and prosper her in all areas of life.

 

“Oyindamola is not just a wife and a mother; she is a beacon of love, wisdom, and support. I vow to always celebrate her and cherish every precious moment we share together. May Almighty God bless her with long life, sound health, endless joy, divine wisdom, peace of mind, and abundant prosperity. May her days be filled with happiness, favor, grace, and fulfillment beyond expectations,” he prayed.

 

 

He added, “I celebrate a beautiful soul today. On your special day, I want to shower you with all the love and affection in my heart. May your light never dim, may sorrow never come near your dwelling, and may God continue to uplift and strengthen you in all you do.”

 

The birthday celebration attracted goodwill messages and prayers from family members, friends, political associates, colleagues, and admirers, many of whom described Mrs. Ajadi as a humble, supportive, and virtuous woman whose kindness and warmth continue to positively impact lives around her.

 

As she marks another milestone, Mrs. Oyindamola Ajadi remains a source of inspiration to many, with loved ones joining Ambassador Ajadi in praying for greater accomplishments, divine protection, and many more fruitful years ahead.

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Viral Hantavirus Reports Spark Fresh Anxiety as Prophet Aitafo’s 2025 Warning Resurfaces

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ANOTHER PROPHECY FULFILLMENT BY PROPHET KINGSLEY AITAFO OVER THE EXIT OF DR. KENOLY, ANNOUNCING FEBRUARY’S OPEN PROPHETIC REVIVAL

Viral Hantavirus Reports Spark Fresh Anxiety as Prophet Aitafo’s 2025 Warning Resurfaces

 

Kingsley Aitafo’s widely shared prophecy about a coming “deadly disease” has resurfaced online amid growing concern over reports of a new Hantavirus outbreak in parts of Europe, particularly France.

 

In a viral video from his “2025 Prophecy” message, the cleric warned of a disease outbreak he described as potentially “more brutal than COVID-19,” urging followers to engage in fervent prayers against a looming global health emergency.

 

“We should pray against a deadly disease that is more brutal than COVID-19. It is coming on the earth. I cannot specify when, but we should pray against it,” the prophet declared in the footage.

 

The resurfaced prophecy has triggered intense debate across social media platforms, with many followers drawing parallels between the warning and recent international reports surrounding Hantavirus infections.

 

Rising Concern Over Hantavirus

Hantavirus is a rare but potentially severe viral infection commonly transmitted through exposure to infected rodent urine, droppings, or saliva. Some strains can lead to serious respiratory complications or hemorrhagic fever.

 

Although health authorities have not declared a global emergency, reports of increasing infections have heightened public concern, especially given lingering memories of the COVID-19 pandemic.

Medical experts continue to caution against panic, stressing that surveillance systems and international response mechanisms are now far more prepared than they were during the early stages of COVID-19.

 

 

Health Precautions Advised

Health authorities and medical professionals recommend the following precautionary measures:

Avoid contact with rodents, their droppings, urine, or nesting areas.

Properly disinfect potentially contaminated environments.

Maintain strict hygiene practices.

Seek urgent medical care if symptoms such as sudden fever, muscle pain, fatigue, or breathing difficulties develop.

As of press time, Nigerian authorities have not issued any formal travel advisory linked to the reported outbreak in Europe, though monitoring measures at international entry points are believed to have been strengthened.

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From Visa Bans to Value Chains: Why Europe must structure sovereign mobility for growth

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*From Visa Bans to Value Chains: Why Europe must structure sovereign mobility for growth*

By Babatunde Aduloju

 

The recent visa restrictions introduced by the United Kingdom government on nationals connected to Saint Lucia’s Citizenship by Investment (CBI) program have triggered an important policy moment, not just for the UK, but for the broader European Union.

 

At first glance, this may appear to be a routine tightening of immigration controls. It signals something deeper: a growing discomfort within Europe about how to manage the intersection of global mobility, private capital, and economic sovereignty.

 

But the current response, restrictions, fragmentation, and reactive regulation, misses the bigger opportunity.

 

Global mobility is no longer just about movement. It is about capital, consumption, and economic influence.

 

And right now, Europe is under-leveraging one of the most powerful drivers of modern economic growth: the Sovereign Mobility Investor.

 

*The Economic Reality Europe Cannot Ignore*

 

Globally mobile investors are not passive travelers. They are active economic participants who inject capital across multiple sectors simultaneously.

 

To understand the scale:

 

• Global tourism receipts reached approximately $1.5 trillion annually, with Europe capturing nearly 50% of international tourist arrivals.

 

• High-net-worth individuals (HNWIs) account for a disproportionate share of premium travel and luxury consumption, often spending 5–10x more per trip than average travelers.

 

• The global luxury tourism and hospitality market is projected to exceed $1 trillion in the next decade, driven significantly by cross-border wealth mobility.

 

• International real estate investment linked to mobility programs contributes hundreds of billions of euros annually, particularly in gateway cities and emerging tourism destinations.

 

But these figures only scratch the surface.

 

A single Sovereign Mobility Investor family typically contributes across five interconnected economic layers:

From Visa Bans to Value Chains: Why Europe must structure sovereign mobility for growth*

By Babatunde Aduloju

-. Travel & Aviation

 

• First- and business-class international flights

• Private aviation and charter services

• Frequent cross-border movement generating recurring airline revenues

 

-. Hospitality & Tourism

 

• Luxury hotels, extended stays, branded residences

• High-value tourism experiences (medical tourism, cultural tourism, leisure travel)

• Destination spending across restaurants, entertainment, and services

 

-. Real Estate & Infrastructure

 

• Acquisition of residential and commercial property

• Participation in resort and mixed-use developments

• Investment in urban regeneration and tourism infrastructure

 

-. Financial Services & Capital Markets

 

• Banking relationships across jurisdictions

• Portfolio diversification into European assets

• Participation in private equity, venture capital, and structured investment vehicles

 

-. Lifestyle & Consumption Economies

 

• Luxury retail (fashion, automotive, art, jewelry)

• Education (private schools, universities)

• Healthcare systems (private care, specialized treatment)

This is not migration. This is an integrated economic ecosystem.

 

*The Rise of the Sovereign Mobility Investor*

 

Over the last decade, a structural shift has taken place.

 

High-net-worth individuals from Africa, Asia, and the Middle East, particularly from countries like Nigeria, India, South Africa, and Lebanon, have increasingly turned to second citizenship and residency programs as tools for:

 

• global market access,

• risk diversification,

• family security,

• business scalability,

• and participation in international economies.

 

In Africa alone, outbound investment migration has grown significantly, with Nigerians consistently ranking among the top participants in global mobility programs.

 

Contrary to outdated narratives, these individuals are not fleeing instability, they are strategically positioning themselves within global value chains.

 

They are:

• founding companies in multiple jurisdictions,

• investing in global startups,

• participating in cross-border trade,

• and contributing to international tax and consumption systems.

 

They are, in effect, informal ambassadors of transnational economic integration.

 

*Europe’s Policy Challenge: Fragmentation vs. Strategy*

 

Despite benefiting from global capital flows, Europe’s approach to sovereign mobility remains inconsistent.

 

Across the European Union:

 

• Some countries have scaled back or eliminated investor visa programs (e.g., golden visa reforms).

• Others maintain independent frameworks with varying standards.

• Regulatory bodies emphasize risk, compliance, and reputational concerns, often without unified economic strategy.

 

The result is a fragmented system that:

• discourages high-quality investors,

• creates policy uncertainty,

• and weakens Europe’s global competitiveness relative to regions like the Middle East and Asia, where mobility-linked investment is aggressively structured and incentivized.

 

The UK’s decision regarding Saint Lucia reflects this tension: a necessary concern for oversight, but an incomplete solution for economic engagement.

 

*The Strategic Opportunity: A Tiered Sovereign Mobility Framework*

 

Europe has an opportunity to lead, not by restricting mobility, but by structuring it.

At HOC Capital Club, we propose a Three-Tier Sovereign Mobility Engagement Framework:

 

Tier 1: Compliance, Governance & Trust Infrastructure

 

Establish a unified European baseline for mobility-linked engagement:

• Cross-border AML and KYC integration

• Shared intelligence platforms between EU and partner jurisdictions

• Standardized due diligence for CBI and residency-linked investors

• Digital identity verification systems

• Policy alignment between immigration, finance, and security agencies

Objective: Remove opacity and build trust.

 

Tier 2: Economic Participation & Sector Alignment

 

Link mobility access directly to economic contribution:

• Minimum investment thresholds tied to priority sectors

• Structured investment pathways in:

o tourism and hospitality,

o green energy,

o healthcare infrastructure,

o digital economy and fintech,

o logistics and supply chain ecosystems

• Regional development incentives for underinvested EU zones

Objective: Convert mobility into measurable economic output.

 

Tier 3: Strategic Sovereign Mobility Partnerships

 

Integrate investors into Europe’s long-term economic vision:

• Co-investment platforms with governments and development banks

• Public-private partnerships for infrastructure and tourism

• Innovation ecosystem participation (tech hubs, venture ecosystems)

• Policy dialogue platforms connecting investors and regulators

Objective: Transform investors into long-term economic partners.

 

*The Financial Multiplier Effect*

 

What Europe must recognize is the compounding nature of sovereign mobility capital.

A €2 million investment does not remain €2 million.

 

It triggers:

• construction jobs,

• tourism revenue,

• local business growth,

• tax contributions,

• secondary investments,

• and long-term economic activity.

 

For example:

• A luxury resort backed by mobility-linked capital can generate tens of millions annually in tourism revenue.

• A single high-net-worth investor relocating partially to Europe can contribute €200,000–€500,000 annually in direct consumption.

• Portfolio investments in startups and SMEs can unlock innovation-driven growth across sectors.

 

When aggregated across thousands of investors, the impact becomes systemic.

 

*Why Europe Is at Risk of Losing This Opportunity*

 

Other regions are moving faster.

• The Middle East is aggressively positioning itself as a hub for global mobility capital.

• Asia is integrating investment migration with innovative ecosystems.

• Caribbean nations continue to refine their CBI frameworks as economic tools.

 

If Europe continues to approach sovereign mobility primarily through restriction:

• capital will be redirected,

• investors will seek alternative jurisdictions,

• and Europe’s influence over global mobility standards will decline.

 

*The Role of HOC Capital Club*

 

This is where HOC Capital Club becomes critical.

 

We are building a platform that connects:

 

• policymakers,

• sovereign mobility investors,

• institutional capital,

• and global economic ecosystems.

 

Through our Sovereign Mobility Investor Program, we provide:

 

• structured investor engagement frameworks,

• policy advisory for governments and institutions,

• curated investment pipelines aligned with national priorities,

• and governance-driven platforms for cross-border collaboration.

We position sovereign mobility not as a loophole, but as a lever for structured economic growth.

 

*A Call to Action for Europe*

 

The decision by the United Kingdom government on Saint Lucia should not end the conversation.

 

It should begin a new one.

 

Europe must decide:

 

Will it remain reactive, closing doors and managing risk?

 

Or will it lead, designing the frameworks that define the future of global mobility?

 

Because the reality is clear:

 

• Capital is mobile.

• Talent is mobile.

• Opportunity is mobile.

 

The regions that succeed will not be those that stop movement.

 

They will be those that structure it, govern it, and align it with growth.

 

*Conclusion: Building Economies Without Borders*

 

Sovereign mobility is not a threat to Europe.

 

It is an opportunity, if properly structured.

 

The future global economy will not be defined by static borders, but by connected systems of capital, policy, and people.

 

Europe has the regulatory strength, institutional depth, and economic scale to lead this transformation.

 

But leadership requires a shift in mindset:

 

-From restriction to strategy.

-From fragmentation to coordination.

-From control to structured collaboration.

 

At HOC Capital Club, we stand ready to partner with Europe in building that future.

 

Because the next era of global growth will not be built within borders.

 

It will be built across them.

 

Aduloju is the Director, Policy & Strategic Development, HOC Capital Club

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