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Naira redesign: EFCC Reveals three governors on watch-list over hidden billions

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They even placed an armoured tank just to scare us away," one EFCC official told this newspaper.

Naira redesign: EFCC Reveals three governors on watch-list over hidden billions

Interestingly EFCC is reportedly  monitoring three serving state governors over their moves to launder stashed billions of naira through table payment of salaries to workers.

Naira redesign: EFCC Reveals three governors on watch-list over hidden billions

Abdulrasheed Bawa, chairman of the commission disclosed this in an interview with Daily Trust on Thursday.

According to him, the raid on Bureau De Change operators will be sustained, urging Nigerians to support the system, for the benefit of all.

The Central Bank of Nigeria (CBN) had on October 26 announced that the country’s currency would be redesigned to address many issues that have negative effects on the economy

While the re-designed notes would be released on December 15, Nigerians have up to January 31, 2023, to deposit their existing notes in banks.

However, the mad rush by top politicians, traders, investors and other members of the public to cut corners and convert stashed funds into dollars, property and others, has created tension in the economy.

CBN Governor, Godwin Emefiele, had said the move was to counter-terrorism financing and hoarding of banknotes by members of the public. The apex bank is to redesign the N200, N500 and N1, 000 notes.

On Thursday, a dollar was selling at N882 in Abuja on the black market, despite several raids by the operatives of the EFCC in Lagos, Kano and Abuja.

According to sources, BDC operators are mopping up dollars from states as the scarcity of the currency bites harder.

In an exclusive interview with Daily Trust,, the EFFCC chairman disclosed that some governors are all out devising means to launder money they stashed in houses. He said so far, they are closely monitoring three of them.

Bawa, who refused to disclose the identity of the three governors, however, said two of them are from the North, while the 3rd one is from the southern part of the country.

He said intelligence at the disposal of the commission, showed that the three governors have concluded plans to inject the money into the system through table payment of their state workers’ salaries.

“Let me tell you something, the Intel that I have yesterday and I would want you to take this thing very seriously. Already, some state governors that have some of this cash stashed in various houses and the rest are now trying to pay salaries in cash in their state,” he said. Asked whether the commission would summon the governors, the EFCC chair said they are closely monitoring them.

He added that “I don’t know how they want to achieve that but we have to stop them from doing that. Well, we are working, they have not paid the salaries in cash yet but it is a very serious thing”, saying the move is against section 2 of the Money Laundering Prohibition Act.

“The aw is very clear regarding cash transactions. Anybody that is to consummate any cash transaction as an individual, if it is not through a financial institution must not be above N5million and if it is above that it is criminal for you to engage in such transaction. And for corporate entities it is N10million.

“Yes, I agree the salaries are not up to that but why are you all of a sudden, and all along you have been paying people salaries through their bank accounts and now you want to pay them in cash, what are you trying to do? They will come under a lot of guises, they are trying to do verification of officers, that is what we have gotten,” he said.

Disposing of stashed funds through property.

The EFCC boss also confirmed the mad rush by some people to dispose of their stashed funds by buying property.

“We are aware of that. Even if you dispose of your property and you receive cash, for that cash to be of value to you after January 31, 2023, you have to take it to the bank; so what happened, are you coming to the bank with those millions? That is why we are working with the bankers and if you have this information let us know about it,” he said.

Raids of BDCs to continue

He said the raids of BDC operators would continue. This he said, is very important to protect the system against the laundering of stashed funds.

“They (BDCs) are very important in the sense that a lot of people that have this naira cash, will want to convert them to USD or other foreign currencies, that is why they are very important.

“And based on the known gullibility of these people (BDCs), they are willing to accept this cash from the owners of these monies and they are willing to depart with the foreign currencies that they have and so that is why they are very important and very critical to us in this project that we said to ourselves that we are going to do,” he said. When Bawa’s attention was drawn to the fact that the dollar was rising despite the EFCC raids, he said it is a function of demand and supply.

“The truth of the matter here is just a simple function of demand and supply, people are rushing this commodity not that they are going to use it for any meaningful business engagement but they are just rushing for it, just a store of value, that is what is happening.

“And what they say in economics is the higher the demand, the higher the price; so people are just seeing USD or other hard currencies just the way that they are seeing gold, to get it exchanged and store their value,” he said.

Why I met chief compliance officers of banks

On why he met chief compliance officers of banks in Lagos recently, he said the parley was part of efforts to properly monitor the system and to seek their collaboration in respect of the likelihood of people bringing in their illegitimate funds back to the system.

“We knew a lot of people are hoarding these funds, it is with them and they will always find a way of trying to bring it back to the system.

“So, irrespective of what they use their cash for, whether they exchange it for dollars, whether they use it to purchase houses for those that are willing to accept cash, it has to eventually come back to the financial institution. So, irrespective of what you do, the banks are very important and critical in the sense that they are the end recipients of this cash.

“The owner of BDC must deposit the money he exchanged for the currency he did, the owner of real estate must also do the same and all of that. So, we sat down, we deliberated and we agreed on what to do. Everybody is happy about it,” he said.

No need for panic

He, however, urged Nigerians to be calm, saying “this (naira redesign) is just a routine thing that ordinarily CBN ought to have done after every eight years, the monies are going to be taken.

“All that the government is saying is come and deposit the money at no cost to you; that is just what is happening, nothing more than that. “How can you have an economy where you have 85 per cent of your currency out there when you are calling for a cashless society when we have a lot of means by which people can consummate their transactions? What are you hiding? These days, people hardly go to the banks, you can transfer your money here using your app, and you can transfer your money through ATM, POS, and all of that, so why keep the money? Why are you scared of going to the bank to say that you want to deposit your money? He queried.

DAILY TRUST

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Accident Leaves King Khoisan SA in Hospital: Council Urges Privacy

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Council Confirms King Khoisan SA in Hospital After Accident in Northern Cape

 

Northern Cape, South Africa – The Khoisan Kingdom Council has confirmed that King Khoisan SA, the prominent leader and figurehead of the Khoisan people in South Africa, is currently in hospital after being involved in an accident in the Northern Cape.

In a statement issued earlier today, the Council expressed concern over the well-being of the King and his family but reassured the public that he is receiving medical attention following the incident, which occurred on [date]. The details of the accident, including its cause, remain unclear at this stage.

“We are deeply saddened by this unfortunate event but are grateful that King Khoisan SA is in good hands and receiving the best possible care,” said the Council in a brief statement. “We ask that the public respects his privacy during this time and continues to offer their prayers and support.”

King Khoisan SA has been an influential advocate for the rights and recognition of the Khoisan people in South Africa, often speaking out on matters of indigenous rights, land, and cultural preservation. His leadership has earned him both national and international attention.

As the nation awaits further updates on his condition, messages of support have poured in from various groups and individuals, including political leaders and Khoisan communities across the country.

Authorities are investigating the cause of the accident, and a spokesperson for the King’s family has requested that the media respect their wishes for privacy while they focus on his recovery.

Further updates will be provided as more information becomes available.

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Hawks Raise Alarm Over Increasing Human Trafficking Networks in SA

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Recent Human Trafficking Cases in South Africa Cause for Concern: Hawks

 

Johannesburg, January 11, 2025 – South African authorities are sounding the alarm over the growing number of human trafficking cases in the country, with the Hawks, South Africa’s elite crime-fighting unit, expressing deep concern over the rise in victims being exploited for forced labor and sex trade.

 

The Hawks revealed that human trafficking syndicates are becoming increasingly sophisticated, with operations spanning multiple provinces and even international borders. “We are witnessing an alarming trend where vulnerable individuals, often young women and children, are being lured into trafficking rings with promises of better lives or employment opportunities, only to be subjected to horrific exploitation,” said Hawks spokesperson Captain Linda Mthembu.

 

In recent months, the unit has reported multiple raids and rescues, but experts argue that these cases only scratch the surface of the growing issue. According to the National Freedom Network, a non-profit organization dedicated to combating human trafficking, an estimated 1,000 cases of human trafficking have been reported across the country in the last year alone.

 

Authorities are calling for heightened awareness and collaboration between local law enforcement, non-governmental organizations, and international partners to dismantle the criminal networks responsible. “The fight against human trafficking is a collective one, and we need stronger cooperation to ensure the safety of vulnerable individuals,” said Mthembu.

 

Human trafficking, which remains one of the most lucrative forms of organized crime worldwide, has taken root in South Africa due to its strategic location and high levels of poverty and unemployment, which make people susceptible to exploitation. South Africa’s Tourism Ministry has also noted a disturbing trend where victims are trafficked for sex work in the country’s booming tourism industry.

 

The Hawks have promised to intensify investigations and increase raids in known trafficking hotspots, but law enforcement officials are urging the public to be vigilant and report suspicious activities.

 

As the issue continues to escalate, experts stress that a multi-pronged approach is required to eradicate this heinous crime, from stricter border controls to better victim support and rehabilitation program

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Nigerian Maritime Journalists to Honour Customs CG with “Iconic Maritime Personality of the Year

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Nigerian Maritime Journalists to Honour Customs CG with “Iconic Maritime Personality of the Year”

By Ifeoma Ikem

All is set for Nigerian Maritime Journalists (NMJ) award to be conferred on the Comptroller-General of the Nigeria Customs Service (NCS), Bashir Adewale Adeniyi, MFR, as the “Iconic Maritime Personality of the Year 2024”.

The need for the Nigerian maritime media practitioners to honour the CGC is a unanimous decision by all maritime journalists covering the maritime beat, cutting across print, electronic and online media, led by the different beat associations.

These include the Maritime Reporters Association of Nigeria (MARAN), League of Maritime Editors (LOME), Association of Maritime Journalists of Nigeria (AMJON), Maritime Journalists Association of Nigeria (MAJAN), Shipping Correspondents Association of Nigeria (SCAN), Online Maritime Media Association of Nigeria (OMMAN) and Congress of Maritime Reporters Association of Nigeria (CONMMEP).

They believe that CG Adeniyi has registered sterling and excellent performance since his assumption of office as the Customs CGC.

According to a nomination letter sent to the CGC by the Secretary, Award Planning Committee, Mr Innocent Orok, “there is no gainsaying you have redeemed and repositioned the Service in all areas. These include revenue collection, anti-smuggling activities, trade facilitation, national security, staff welfare, inter-agency collaboration, infrastructural upgrading, Information and Communication Technology, and Corporate Social Responsibility, among others.

“It is also incontestable that your record-breaking performance has attracted national and international laurels to you, the Service, and Nigeria as a whole. Unarguably, it is partly for these reasons that the Leadership Newspaper Group recently honoured you with the award of the Public Service Personality of the Year.

“We, the maritime journalists, comprising both print, electronic and online media covering the beat, are happy to be part of this history-making with you as partners in progress.

“In appreciation of your superlative performance and, by extension, your unrelenting support to the media, especially the maritime media, we nominate you as the ICONIC MARITIME PERSONALITY OF THE YEAR.”

On his part, the Chairman of Award Planning Committee, Dele Aderibegbe, explained that “the award is coming at no better time than during the Renewed Hope Agenda of President Bola Ahmed Tinubu, who is looking for focused and dedicated leaders to take the Nigerian economy out of the woods.

According to him, “this honour is very symbolic. First, this is the first time in the maritime sub-sector that all the journalists covering the beat will come together to honour a deserving performer per excellence, who has made the Customs and Nigeria proud by his purposeful, professional and patriotic leadership.

“Secondly, the Nigeria Customs Service under Adewale Adeniyi has been reconnected to international frontiers and leading in revenue collection, anti-smuggling activities, trade facilitation, ICT, modernisation, and inter-agency collaboration, among others.

“This honour by maritime journalists is also to set an agenda for other agencies of government and their appointees that the ever vibrant and dogged maritime media are watching them.

“We are inviting special guests, especially other agencies’ heads and maritime stakeholders to come and witness this great event, which is first of its kind in the Nigerian maritime industry.”

The award ceremony is coming up on Thursday, 16th January, 2025 at the Apapa Port Customs Command Auditorium, at 12noon prompt.

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