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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.

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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.

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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.

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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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The Chronicles of Bishop Paul N. Vincent: Unveiling a spectacular voyage from belief to Empowerment- An Epic Narrative of Endurance and Dedication*

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*The Chronicles of Bishop Paul N. Vincent: Unveiling a spectacular voyage from belief to Empowerment- An Epic Narrative of Endurance and Dedication*

 

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In an exclusive interview conducted by Emmanuel Clement, we embark on an illuminating exploration of the remarkable life and visionary leadership of Bishop Paul N. Vincent.
As the driving force behind Persistence Works TV Network (PWTN) and Vincent Paul Ministries Int’l, Bishop Vincent’s journey from personal transformation to global impact is an inspiring testament to faith, resilience, and unwavering commitment to service.

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*Can we have meet you sir?*

I am Bishop Paul N. Vincent, a leader with a diverse portfolio including roles as President/CEO of Persistence Works TV Network (PWTN), Publisher of Persistence Works Magazine, and head of Vincent Paul Ministries Int’l. Based in El Paso, Texas, my journey encompasses various spheres of influence, from media to ministry, all fueled by a profound commitment to service.

*How did your journey of faith begin, and what prompted your salvation?*
My salvation journey was catalyzed by a family tragedy in 1982, ultimately leading me to embrace Christ in 1985 during a powerful revival service. This transformative encounter set the course for my lifelong commitment to faith and service.

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*Since you gave your life to Christ, have you ever thought of backsliding from the faith?*

No I haven’t. Although many people within my extended family at that time didn’t think I would go all the way. They thought I would soon backslide since I was so young (I was 11 years old when I started attending the church, but was 13 when I made a firm & final decision to give my life and to follow Christ all the way). So they felt by the time the “pleasures of life” begin presenting themselves to me, that I’d backslide. But God’s Faithfulness has proved them all wrong! I’m still here by the Grace of God, still following Christ after almost 40 years now! Praise God!

*Before embarking on ministry, what endeavors did you pursue?*

Prior to diving into full-time ministry, I embarked on a journey of learning and service. From pioneering ministry works in Nigeria to serving as an Army Chaplain in the U.S., my path has been marked by a pursuit of knowledge, leadership, and social impact.

*What is the overarching vision and mandate of your ministry?*

The Vision and mandate of our ministry are:
*To liberate those oppressed by the devil and draw such into the Kingdom Of God by the preaching of the Gospel.
*To Minister healing to the sick: physically, emotionally & spiritually.
*To effectively communicate Christ to our society and the world.
*To preach and teach the word in order to build, develop & mature the Body Of Christ.
*Maximizing the media to propagate the Gospel through: Publications, Television, Social Media, Crusades, Conferences & Charity.

*Have you ever experienced regret as a minister of God?*

Well, we all are constantly growing and learning. The most important thing in life is not that you made mistakes, it’s that you’re able to quickly learn from it, grow and move on beyond it. So yes there were few choices or actions that one might have wished could have been done differently or so, but it’s all part of the learning curves in life. But what I don’t ever regret at any time is: Giving my life to Christ at an early age; answering the Call of God at an early age; getting married to my wife; serving in the US military and other such key choices in life; I don’t regret any of them.

*How do you handle critics?*

If they are constructive criticism, people that want you to do well or better and offer criticism in a way to help you do better and be better: I thank them, accept & evaluate the criticism; If I need to do something different or change something or so, wisdom demands that you do whatever that will help you become a better version of your tomorrow than you were today. But, if they are destructive criticism, people who just want to tear you down and don’t care about you or what you are doing: then I just ignore them, keep doing what am doing. But in some cases, your critics today may become your cheerleaders and fans tomorrow, so I try not to take most criticism so personal. Of course everyone won’t like you, love you or appreciate what you’re doing. So be at peace with that fact of life too!

*Should Christians actively engage in politics?*

Absolutely. Christians have a vital role to play in shaping the political landscape, bringing principles of integrity, justice, and compassion to governance. As stewards of society, our engagement in politics is both a responsibility and an opportunity to effect positive change.

*What’s your perspective on the current political climate?*

The current political climate underscores the urgency of our times, with global upheavals and conflicts signaling the need for steadfast leadership and spiritual discernment. As we navigate these turbulent waters, it’s imperative to uphold values of righteousness and perseverance.

*What do you think is the solution to the ravaging insecurities in the country?*

Bottom Line is that Nigeria needs to be restructured, period! All the issues the nation is facing or dealing with, (more especially insecurity) are only the symptoms, the root cause of Nigeria’s problem is foundational and structural. When you keep forcing strange bed mates to live together and they don’t want to, you’ve set the stage for whatever you get. If you are sick and you go to the hospital, a good doctor won’t just treat your symptoms, they’ll try to get to the root of the problem why you are having those symptoms, which is why they ask you to go do scan, MRI, various tests, etc; so that they can identify the root cause of the sickness and treat it from there, because if you get the root cause taken care of, the symptoms will easily be treated or taken care of. So most of what Nigeria’s political leadership have been doing over the past 63 years plus, since her independence, is treating the symptoms and hoping to cure the sickness. No it doesn’t work that way. To treat the root cause of Nigeria’s problem will require restructuring the country. Again, due to the failed structure, there are people who are benefiting from it the way it is now (even with all the insecurity) that will want things to remain the way they are now, as long as they are benefiting, they don’t care. Which is also part of the problem, people or politicians want what benefits them & not what’s best for everyone.

So when you restructure, then every region can develop at their pace, maximize their full potential, including potential for economic growth and industrialization, solve their problems in the context of what works for them and most of the criminal elements will either change and be engaged in something more productive or will have to face the full weight of the laws. Again even in being able to restructure, it’ll take a leadership that is visionary and selfless. And the question is, does Nigeria have such leaders now, I doubt it! But I pray am proven wrong!

*Where do you envision your ministry in the next 5 years?*

Looking ahead, I envision our ministry expanding its reach and impact across diverse platforms. From a thriving TV network and publication to impactful community initiatives, our goal is to touch lives and transform communities on a global scale.

*What message do you have for those who thought there is no hope from political leaders in the country?*

Actually, is there any hope from political leaders in the country? I doubt it! But in any case, I pray that the political leaders will at least for once, try to prove people wrong by doing the right things & putting policies in place that’ll benefit the people and that’ll move the nation forward. That they’ll serve selflessly and not be about themselves. And I pray that God will one day bless this nation with the right crop of selfless leaders who will be willing to go to any lengths to serve their people and improve their quality of life.

*What has life taught you over the years?*

Life has thought me that: PERSISTENCE WORKS! Whatever you do in life; Don’t Give Up! Don’t throw in the towel because IF you keep Persisting in the face of adversity, danger, failure, set back, criticism or persecution, soon your persistence will work for you, because I am a proof that PERSISTENCE WORKS!

Another thing that life taught me was when I completely went blind in my left eye for almost a year due to cataract. But I eventually had surgery to remove the cataract and regained my sight. That experience taught me how priceless being able to SEE could be. And I thought within myself, that had it been I didn’t have the means or finances to do the eye surgery, I would have remained completely blind in that eye. So that birthed a new project: Cataract Medical Mission, as part of our Persistence Works Charity Project. So now we help people who have cataract or now blind and don’t have the means to pay for the surgery, we help them to pay for cataract surgery or even for glaucoma surgery. And we’ve helped a couple of people so far and hope to do it on a more larger scale soon. So giving back when God has blessed you or shown you mercy is one thing life and God’s Word has taught me.

*“Bishop Paul N. Vincent’s journey exemplifies the power of faith, resilience, and visionary leadership. His unwavering dedication to service continues to inspire and uplift countless individuals worldwide.”*

 

The Chronicles of Bishop Paul N. Vincent: Unveiling a spectacular voyage from belief to Empowerment- An Epic Narrative of Endurance and Dedication*

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Boxing Competition: Unboxx Sports Partners Elite Solar And Inverter

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Boxing Competition: Unboxx Sports Partners Elite Solar And Inverter

Boxing Competition: Unboxx Sports Partners Elite Solar And Inverter

 

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Lagos, Nigeria (8th May 2024) – UNBOXX SPORTS and ELITE SOLAR AND INVERTER, one of Nigeria’s fastest-growing green energy company, are delighted to announce a new major partnership.

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Boxing Competition: Unboxx Sports Partners Elite Solar And Inverter

 

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UNBOXX SPORTS exists to bring a new experience to the sports arena – for brands, athletes and sports fans alike.

UNBOXX SPORTS unique level of service emulates our clients’ discipline, passion, and determination–a formidable synergy. Our hands-on approach provides each client with strategic, analytical and honest advice. We aim to develop life-long relationships, whereby our clients can always count on UNBOXX SPORTS to be their partner, confidant and friend.

Elite Solar & Inverter Limited, is a Nigerian company dedicated to providing renewable energy solutions. Although the company was officially incorporated in 2023, Elite Solar & Inverter Limited has been operating since 2019, indicating several years of experience and presence in the renewable energy sector.

From humble beginnings in a small garage, ELITE SOLAR AND INVERTER LTD., dedication to providing accessible, reliable solar energy solutions soon propelled us to become a leading force in the renewable energy industry, empowering homes and businesses nationwide to embrace the power of the sun.

The partnership will see ELITE SOLAR AND INVERTER LTD. branding positioned across all UNBOXX SPORTS pre-promotional activity in the lead-up to its forthcoming events, including press conferences, open workouts and weigh-ins. Extensive in-arena exposure on fight night will include ELITE SOLAR AND INVERTER LTD. branding on the ring canvas, toblerones, ropes, and branding on Event Led Screen; and mentions by the ring announcer during each live event.

ELITE SOLAR AND INVERTER LTD. banners will be positioned across press conferences and in fighter changing rooms at the event venue – with exciting experiential brand activations to be announced soon, along with a host of unique social and digital content campaigns featuring key UNBOXX SPORTS talent. UNBOXX SPORTS event CHAOS IN LAGOS will be streamed LIVE on youtube. The partnership will commence with UNBOXX SPORTS next event at the National Stadium, Surulere, Lagos.

UNBOXX SPORTS founder and CEO Ben Otunola said: “We’re delighted to welcome ELITE SOLAR AND INVERTER LTD. as UNBOXX SPORTS GOLD PARTNER. They are an indigenous national brand and their exciting growth trajectory since 2013 speaks to our own aggressive growth in recent years, and our ambitions in the sport. ELITE SOLAR AND INVERTER LTD. existing footprint in renewable energy, innovative marketing strategy and emphasis on sustainability, made the alignment clear for all to see from our very first conversations, and we’re looking forward to kicking things off with a huge night in Surulere.”

Commenting on the partnership, Ms. Adetola Afonja D. One of the Marketing Executives at ELITE SOLAR AND INVERTER LTD., said: “The partnership between UNBOXX SPORTS and ourselves comes at a fantastic time for ELITE SOLAR AND INVERTER LTD., as we begin to broaden our horizons further and expand our customer base through the pay small small package. UNBOXX SPORTS mission and values align so perfectly with our own, so this partnership feels like a really natural fit, and we’re excited to work closely with them as we expand the reach of our products much further afield.”

To find out more about ELITE SOLAR AND INVERTER LTD. and their full range of products, and services visit https://www.goelite.com.ng/ you can also visit ELITE SOLAR AND INVERTER LTD’s office at
3, Sola Omole Street, Langbasa, Ajah, Lagos.

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Primate Ayodele Becomes The Most-Sought After Prophet In Togo* By Serge Ayao, Lome

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Primate Ayodele Becomes The Most-Sought After Prophet In Togo* By Serge Ayao, Lome

*Primate Ayodele Becomes The Most-Sought After Prophet In Togo*

By Serge Ayao, Lome

 

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The leader of INRI Evangelical Spiritual Church, Pastor Elijah Ayodele has touched several nations with his dynamic and unique prophetic ministry and it appears Togo is the latest country to experience the heavy wave of the prophet’s ministry.

 

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Primate Ayodele Becomes The Most-Sought After Prophet In Togo*
By Serge Ayao, Lome

The Nigerian-born cleric has suddenly become a household name in Togo due to his remarkable prophecy regarding the country’s parliamentary election which took place last week. There are reports that Primate Ayodele’s prophecy videos and statements concerning the election have become ‘ringing tone’ for people who are yet to recover from the accuracy of his prophecy.

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Primate Ayodele, known for always prophesying ahead of time, had revealed the outcome of the parliamentary election months before it was held. The election was presumed by many to be tough due to the presence of opposition but Primate Ayodele in his prophecy categorically stated that the ruling party will still get more parliamentary seats.

At the release of his 2024 prophecies in December 2023, Primate Ayodele revealed that every plan to remove the president of the country will be aborted. He made it known that the incumbent president will still return to his position after the election.

These were his words

‘’TOGO: I foresee there will be an election in Togo even as people will not be satisfied with the performances of the government. The country will be troubleshooting on how to revamp the economy. There will be total confusion in Togo before, during and after the election. The country will not find things so easy. I foresee that all the plans designed to remove the president will be aborted.’’

In another prophecy he shared a few hours to the election, Primate Ayodele asserted that the ruling party will get more seats in the election because the opposition parties failed to form a coalition as he earlier advised.

These were his words

‘’The union of forces and other parties should have come together for this election but as it stands, Union for the Republic party’’

@primateayodele

#primateayodele #iescworldwide #togo #togolais228🇹🇬 #gnassimgbefaure #fulfillment #election #prophecyfulfilled #capcut

♬ original sound – Primate Ayodele

In fulfillment of this prophecy, the ruling party, Union for the Republic party (UNIR) won 108 of 113 seats in the new assembly, according to provisional results from Monday’s vote.

Under the new constitution approved by lawmakers in April, Gnassingbé will now be able to take a new post as “president of the council of ministers” – a role similar to prime minister that is automatically assumed by the leader of the majority party in parliament.

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