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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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Taskforce Chairman: Akerele Adetayo. An impressive achievement marked by exceptional thoroughness

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Taskforce Chairman: Akerele Adetayo. An impressive achievement marked by exceptional thoroughness

…A considerable monumental stride without blemishes

~By Oluwaseun Fabiyi 

 

The one-on-one meeting with the Taskforce Chairman was a remarkable and unforgettable experience.

 

*How familiar are you with CSP Adetayo Akerele’s leadership as Chairman of the Lagos Task Force?*

 

_*Oluwaseun Fabiyi, publisher of Bethnews Media magazine and online, had a recent encounter with Akerele Adetayo that will shed more light on his achievements and good standing; we invite you to listen attentively*_

 

As Chairman of the Lagos State Environmental and Special Offences Enforcement Unit (Taskforce), Akerele Adetayo, an extraordinary CSP and trustworthy police officer, remains a beacon of excellence, mirroring greatness through his benevolent heart and unwavering commitment to superior service standards in Lagos and its environs

 

Without a doubt, Akerele Adetayo, the former 2iC Taskforce and pioneer LAMATA Commander turned Chairman of the Lagos State Taskforce, has solidified his standing as a highly effective and accomplished commander in the Nigerian Police Force, recognized for his impressive stride and visionary leadership.

 

CSP Adetayo Akerele’s career advancement has been grounded in his meticulous approach to duty and commitment to delivering results, which has distinguished him among his peers. As Chairman of the Lagos Environmental and Special Offences Enforcement Unit Taskforce, he has established a functional compliance desk that promotes seamless interaction with the public and enables effective response strategies

 

CSP Akerele Adetayo’s professional trajectory in journalism has garnered substantial admiration and a distinguished reputation among media practitioners across print and electronic media, complemented by his specialized knowledge in security and digital strategy, which has critically shaped the orientation of the Lagos State Taskforce

 

As Chairman of the Lagos State Task Force since 2024, he has consistently upheld the core mandate of delivering exceptional security services to citizens, ensuring peace, order, and internal security across the state, built on a foundation of professionalism, strong public relationships, effective teamwork, and unwavering accountability. Under the leadership of CSP Adetayo Akerele, the Lagos State Environmental and Special Offences Enforcement Unit Taskforce has achieved notable success in leveraging advanced technology while maintaining exemplary standards of individual appearance, conduct, and professionalism.

 

Akerele Adetayo’s exceptional dedication to service excellence has earned him numerous accolades for his outstanding contributions to the Lagos Taskforce unit and the Nigerian police force at large, in recognition of his professionalism and exemplary service

 

 

As the Chairman of the Lagos Taskforce unit, his active participation in every activity underscores a broader commitment to the agency’s structural growth. His consistent and prompt approach emphasizes execution and maximum security protection for the safety of the masses, as he fosters a teamwork network of assets that drive the agency’s growth and accessibility.

 

Note Bethnews Media shall provide its exceptional wisdom exhibited in the forthcoming article.

 

Oluwaseun Fabiyi, a seasoned journalist based in Lagos, reports.

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Postings Are Not Optional: Why The Police Must Reassert Discipline Over Transfer Resistance

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Postings Are Not Optional: Why The Police Must Reassert Discipline Over Transfer Resistance

 

 

 

In recent days, a wave of commentary across sections of the media has sought to cast routine police postings in a controversial light, particularly within Zone 2 Command of the Nigeria Police Force, which oversees Lagos and Ogun States. At the heart of the narrative is a claim misleading at best that the redeployment of officers from the zone is either improper or should be resisted.

 

This framing deserves closer scrutiny, not just for what it says, but for what it risks encouraging.

 

Postings and transfers are not punitive tools; they are essential administrative instruments in policing worldwide. They ensure operational balance, prevent the entrenchment of interests, and promote a fair distribution of manpower across commands. In a country as vast and complex as Nigeria, where some divisions grapple with acute personnel shortages, the ability of police leadership to deploy officers where they are most needed is not just lawful it is indispensable.

 

Attempts to portray transfers as “illegal” or unjustifiable undermine this fundamental principle. No command, regardless of its perceived strategic importance, can be treated as an exception to the rules that govern the wider institution. To do so would create a dangerous precedent one where postings are dictated not by operational necessity, but by preference, influence, or resistance.

 

The idea of 845 plus Senior Police Officers alone in Zone 2 Police Command is a thing of worry and it’s certain that the junior officers number would be nothing more than thrice of that of the SPOs. The newly posted and promoted AIG in charge of the Zone should be swift and decisive. The Nation is waiting.

 

More concerning, however, is the growing tendency to escalate internal administrative matters into the public domain. While transparency is vital in public institutions, there is a clear distinction between accountability and the externalization of internal processes in ways that may erode discipline. Policing, by its very nature, relies on a structured chain of command. When that structure is weakened whether through public pressure, media campaigns, or external influence the consequences extend beyond internal order to overall effectiveness.

 

There are also broader operational questions that cannot be ignored. Reports of disproportionate personnel concentration in certain formations, set against a backdrop of manpower shortages in many parts of the country, point to the need for deliberate and strategic redeployment. Ensuring that officers are equitably distributed is not merely an administrative exercise; it is central to improving response times, strengthening community policing, and enhancing national security outcomes.

 

It is equally important to acknowledge the role of the media in shaping public perception. Journalism remains a critical pillar of democracy, but with that role comes responsibility. Narratives that inadvertently legitimise resistance to lawful directives risk doing more harm than good, particularly in a disciplined service where cohesion and obedience to command are non-negotiable.

 

None of this diminishes the importance of officer welfare or the need for fair and transparent posting policies. Indeed, a well-managed transfer system must take into account both operational demands and human considerations. However, these concerns are best addressed within established institutional frameworks—not through pressure campaigns or attempts to influence outcomes from outside the system.

 

At its core, this moment presents a test of institutional resolve. The leadership of the police must balance empathy with firmness, ensuring that decisions are guided by the collective good rather than individual interests. Upholding the integrity of postings is not simply about moving personnel; it is about reinforcing the principles that sustain discipline, professionalism, and public trust.

 

A police force that cannot enforce its own internal directives risks sending the wrong message—not just to its officers, but to the citizens it serves. Conversely, a force that stands by its processes, applies its rules fairly, and communicates its decisions clearly strengthens its legitimacy.

 

In the end, the issue is not about one command or one set of officers. It is about preserving the institutional backbone of policing itself.

 

Akindele Adegebo writes from Lagos.

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4 BRIGADE EMERGES OVERALL CHAMPION OF 2 DIVISION INTER-BRIGADE CORPORALS AND BELOW COMPETITION 2026 IN BENIN

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4 BRIGADE EMERGES OVERALL CHAMPION OF 2 DIVISION INTER-BRIGADE CORPORALS AND BELOW COMPETITION 2026 IN BENIN

 

4 Brigade, Nigerian Army, on Thursday, 23 April 2026, emerged overall champion of the 2 Division Inter-Brigade Corporals and Below Competition 2026, which was held from 20 to 23 April 2026. The competition was hosted by 4 Brigade at the Nigerian Army Cantonment, Ekehuan, in Benin City.

 

In his welcome address, the Commander 4 Brigade, Nigerian Army, Brigadier General Ahmed Balogun, disclosed that the competition is designed to improve combat proficiency, leadership skills, organizational ability, teamwork, endurance, and to promote esprit de corps among soldiers of junior ranks. He added that it also challenges their initiative and prepares them for higher responsibilities.

 

He noted that the competition is not just about winning or losing, but about fostering a spirit of unity, resilience, and continuous improvement. “It provides a platform for sharing knowledge, learning from one another, and building stronger bonds within our ranks. The lessons learned and the experiences shared here will undoubtedly enhance our operational effectiveness and strengthen our team spirit,” he said. He further appreciated the General Officer Commanding (GOC) 2 Division, Major General Chinedu Nnebeife, for the confidence reposed in the Brigade to host this year’s Corporals and Below Competition, as well as for his commitment to improving training and the welfare of personnel.

 

In his closing remarks, the Special Guest of Honour, the Commandant, Nigerian Army School of Supply and Transport, Major General Adebayo Adegbite, expressed satisfaction that the objectives of the competition had been largely achieved. He stated that he had no doubt that the various events contested by the formations had significantly improved their physical and mental capacity, enhanced leadership traits, and strengthened organizational ability, while also preparing them for operational engagements in view of the current security challenges confronting the nation.

 

He further charged participants to take back to their respective formations the experience and knowledge gained during the competition and translate them into remarkable achievements in the field for the benefit of their formations and the Nigerian Army at large.

He also expressed profound gratitude to the Chief of Army Staff (COAS), Lieutenant General Waidi Shaibu NAM, for his unwavering commitment to the development of junior non-commissioned officers, whom he described as the backbone of the Army. He added that 2 Division remains grateful for the COAS’s strategic guidance and support. He also commended the planning team for ensuring that the competition was fair, challenging, and reflective of real-world operational standards.

 

The 2026 edition of the 2 Division Inter-Brigade Corporals and Below Competition featured events such as drill competition, combat swimming, map reading, weapon handling and firing, combat cross-country race, and obstacle crossing. Participating formations included 4 Brigade, 12 Brigade, 22 Armoured Brigade, 32 Artillery Brigade, 42 Engineers Brigade, and 2 Division Garrison. At the end of the competition, 4 Brigade, emerged overall champion, while 12 Brigade, and 2 Division Garrison, came second and third respectively.

 

The ceremony was graced by heads of security agencies in Edo State, as well as friends of the Brigade. Highlights of the closing ceremony included obstacle crossing competition among formations, presentation of awards, souvenirs, and group photographs.

*KENNEDY ANYANWU*

Captain

Assistant Director Army Public Relations

4 Brigade Nigerian Army

Benin City

 

24 April 2026

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