society
Naira redesign: EFCC Reveals three governors on watch-list over hidden billions
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.
society
Liberian Leaders, Citizens Bear Witness as Apostle Suleman Hosts Two-Day Power-Packed Crusade
Liberian Leaders, Citizens Bear Witness as Apostle Suleman Hosts Two-Day Power-Packed Crusade
It was testimonies galore on Tuesday, March 31, the first day of the famous servant of God and founder of the Omega Fire Ministries (OFM) worldwide, Apostle Johnson Suleman’s power-packed two-day crusade. The event documented impactful moments with the Gospel and miracles, emphasizing the power of faith and the tangible confirmation of God’s Word through signs and wonders. It was equally an atmosphere of miraculous healing, restoration of lives, and the strengthening of faith.
At the crusade, which was held at the SKD Sports Stadium in Paynesville City, and themed, “Liberia Outpouring Crusade” witnessed testimonies of impact and miracles with participants experiencing instant healing of various kinds of challenges.
Apostle Suleman’s first port of call was Paynesville, the office of Liberian government’s president, Mr. Joseph Nyuma Boakai, who received him in an audience with his junior ministers. Apostle Suleman, who also met with the vice-president, Mr. Jeremiah Kpan Koung, was welcomed by the Liberian leader’s office as part of the president’s ongoing engagements with religious leaders aimed at fostering spiritual support for national development.
The president expressed profound appreciation to Apostle Suleman for the visit and continued prayers and intercessions by men and women of God on behalf of Liberia, emphasizing his firm belief that sustained spiritual guidance and prayer remain vital to the transformation and progress of the nation.
During the visit, Apostle Suleman offered prayers for President Boakai, his cabinet and the Liberian nation, invoking divine alignment, wisdom, and insight in Liberia’s path toward growth and stability. He prayed that the Almighty God would position Liberia for relevance and fulfillment of its national destiny.
Apostle Johnson Suleman, an evangelist who knows no bounds of where preaching the gospel comes to a stop, visited Liberia prepared with the message, compelling power of the Gospel and the work of the Holy Spirit, and bringing people to a point of decision where they surrendered their lives to Christ.
Aside from being prophetic and timely, OFM sources disclosed that the servant of God’s visit underscores the importance of faith-based partnerships in supporting governance and national renewal efforts.
society
Middle Belt Forum Hails Tinubu’s Jos Visit, Calls for United Civil-Military Effort to Restore Lasting Peace
*Middle Belt Forum Hails Tinubu’s Jos Visit, Calls for United Civil-Military Effort to Restore Lasting Peace
The Middle Belt Peace Forum (MBPF) has commended President Bola Ahmed Tinubu for his profound demonstration of empathy and responsive leadership following his decision to postpone an official engagement in Iperu in order to visit victims of the recent attacks in Jos.
In a statement signed by its National Coordinator, Pastor Bulus Garba, in Jos on Friday, the Forum said the President’s decision to personally identify with grieving communities sends a powerful message of solidarity and reinforces public confidence in the commitment of the Federal Government to the protection of lives and property.
“The Middle Belt Peace Forum warmly commends President Bola Ahmed Tinubu for prioritising compassion over ceremony. At a time of deep sorrow for the people of Plateau State, his decision to visit Jos stands as a mark of true leadership—one that listens, responds, and stands with the people in their moment of pain,” the statement read.
The Forum described the perpetrators of the recent attacks as “cowards who prey on innocent and defenceless citizens,” stressing that such acts of violence are not only inhumane but also a direct assault on the unity and peace of the nation.
“We condemn in the strongest terms the actions of these cowardly attackers whose only aim is to instil fear and destabilise peaceful communities. Their actions must be met with firm and decisive resistance from all arms of the state,” Pastor Garba said.
The MBPF further used the opportunity to salute the courage, gallantry, and sacrifices of the Armed Forces of Nigeria under the leadership of the Chief of Defence Staff, General Olufemi Oluyede, noting that their continued efforts remain central to restoring stability across troubled parts of the country.
According to the Forum, the Armed Forces have demonstrated resilience and professionalism in the face of complex security challenges, often operating under difficult conditions to safeguard communities and defend Nigeria’s territorial integrity.
“We salute the Armed Forces of Nigeria for their unwavering commitment and sacrifices. Their gallantry in confronting criminal elements and reclaiming territories is a testament to their dedication to national service. We recognise that the path to peace is demanding, and we honour those who stand daily in defence of our nation,” the statement added.
The Forum pledged its full support to ongoing military operations and called for strengthened collaboration between security agencies and local communities as a critical factor in achieving lasting peace.
It also urged citizens across the Middle Belt to cooperate with security forces by providing timely information and fostering unity within their communities.
The MBPF, however, expressed concern over the need for greater synergy among security agencies, particularly the role of the Nigeria Police in consolidating gains made by the military.
“We call on the Nigeria Police Force to rise fully to its constitutional responsibility by effectively supporting the Armed Forces in stabilising and securing areas that have been cleared of criminal elements. Holding and policing such territories is essential to preventing a resurgence of violence,” Pastor Garba stated.
The Forum emphasised that sustainable peace requires a coordinated approach in which the military clears and secures areas, while the police maintain law and order to enable displaced communities to return and rebuild their lives.
The MBPF concluded by reiterating its commitment to peacebuilding efforts across the Middle Belt and expressed optimism that with sustained leadership, coordinated security efforts, and active citizen participation, lasting peace can be achieved.
“Together, through unity, vigilance, and collective resolve, we can overcome these challenges and build a safer and more peaceful Middle Belt,” the statement added.
Governor Dauda Lawal Wins Face of Africa Governor of the Year Award in London
Governor Dauda Lawal has been honored with the Outstanding Governor of the Year award by Triangle Media International Magazine.
The award was presented during the magazine’s 10th annual lecture and award ceremony, held on Thursday at the Grand Hall of King’s College, London, United Kingdom.
According to a statement by the governor’s spokesperson, Sulaiman Bala Idris, the awards recognize public and private sector leaders whose leadership positively impacts governance and service delivery.
He added that the lecture, themed “Harnessing the Roles of Nigerians in Diaspora for National Development,” brought together stakeholders from both the public and private sectors.
The statement read in part: “Yesterday, in London, Governor Dauda Lawal received the 2026 Face of Africa Leadership Award for Outstanding Governor of the Year.
“The 2026 edition coincides with the 10th anniversary of Triangle International Magazine, which has over the years celebrated notable Africans across diverse fields.
“The award recognizes the Zamfara State Government under Governor Lawal’s leadership for achieving remarkable milestones in service delivery since his inauguration on 29 May 2023.
“The board of Triangle International noted that, despite inheriting an empty treasury, Governor Dauda Lawal has remained true to the Rescue Agenda’s campaign promise: to rescue and rebuild Zamfara.
“The award also reflects the state government’s innovative approach to indirectly curbing insecurity through educational advancement, demonstrated by the declaration of a state of emergency in the education sector.
“This includes the state government’s swift payment of the outstanding N3.4 billion for WAEC and NECO examinations, as well as the reconstruction and rehabilitation of schools across all 14 Local Government Areas of Zamfara State.
“The international magazine finds these initiatives to be strategic interventions toward long-term efforts to make Zamfara State better.”
The colourful event was attended by the Minister of Interior, Olubunmi Tunji-Ojo, and Sahara Group’s Group Managing Director, Kola Adesina, among others.
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