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EFCC backs Student Loan, Consumer Credit with N100b
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Not less than N100 billion out of the recovered over N566 billion loot by the Economic and Financial Crimes Commission (EFCC), in the last two years has been pumped into the Student Loan Scheme and Consumer Credit Policy.
The two programmes are key electoral promises of the Bola Tinubu Administration, which are being fulfilled.
Besides, some of the recovered properties have been given to government agencies for use as offices.
EFCC Director of Media and Publicity, Mr. Wilson Uwujaren made these known yesterday while giving the two-year scorecard of the commission’s Chairman Mr. Ola Olukoyede in Abuja.
Uwujaren said: “Part of the funds recovered by the commission in the last two years was invested in critical social investment programmes: the Student Loan Scheme and the Consumer Credit Scheme. A total of N100billion of funds recovered by the commission was invested in these two schemes.
“Also agencies of government, including the Niger Delta Development Commission, NDDC, the Asset Management Corporation of Nigeria, AMCON, the Federal Inland Revenue Service, FIRS, and the National Health Insurance Authority, are beneficiaries of funds recovered by the Commission.
“A number of property recovered by the Commission have been allocated to some agencies of government for use as offices.
Apart from the recoveries, Uwujaren said the commission has done its best to stimulate the economy.
“The EFCC Chairman upon his appointment set up a Task Force on Naira Abuse and Dollarisation of the Economy, with presence across all our Zonal Directorates.
“ The Task Force went after currency racketeers and speculators, with the arrest and prosecution of some culprits. While the offensive against naira abuse improved public consciousness on proper handling of the naira, it may have also reduced the cost of currency management by the Central Bank of Nigeria.
“By the same token, the campaign against currency racketeering and criminal speculation, including the clampdown on rogue cryptocurrency exchanges helped to reduce the pressure on the naira, a situation that bolstered the CBN’s efforts to stabilise the Naira.
“One area where the Commission under Olukoyede has made great strides is in the fight against cybercrime. Apart from stepping up the Commission’s enforcement activities, the EFCC Chairman also ramped up public education and sensitisation activities intended to discourage the youths from engaging in cybercrime”, he said.
On discipline, Uwujaren said 55 officers of the EFCC have been dismissed in two years because Olukoyede has zero tolerance for unethical behaviours.
He said: “In 2024, the Commission announced the dismissal of 27 officers for various acts of misconduct. That number has since increased. A total of 55 personnel have been dismissed in the last two years for different acts of misconduct. Among them is a former officer in the Kaduna Zonal Directorate who tampered with items in the Exhibit Room. He was not only dismissed but is currently being prosecuted.”
He added that the commission received 19, 318 petitions and recovered over N566.9b and $411m in two years.
It also said the total forfeited real estate assets in two years were 1,502 properties.
For cases in court, it secured 7,503 convictions out of 10, 525 cases filed in court.
He said: “For most law enforcement organisations performance is frequently benchmarked on two critical scores: Records of convictions and recovery of proceeds of crime. On these two scores, the performance of the Olukoyede-led EFCC in the last two years is most inspiring.
“ The numbers speak for themselves on petitions, investigations and convictions. Between October 2023 and September 2025, EFCC received 19, 318+ petitions, investigated 29, 240 cases, filed 10,525 cases in court and obtained 7,503 convictions.
“From October to December 2023, EFCC received 3,594 petitions, investigated 3,747 cases, filed 2,064 in court and secured 826 convictions.
“As from January to December 2024, it was in receipt of 15,724 petitions, investigated 12,924 cases, filed 5, 081 cases in court and secured 4,111 convictions.
“Between January and September this year, EFCC carried out 12,569 investigations, filed 3, 380 cases in court and secured 2, 566 convictions. “
Uwujaren listed high-profile prosecutions in the last two years by Olukoyede administration.
He said: “Some of the notable arrests and prosecution for alleged corruption include former governors Willie Obiano of Anambra State, Abdulfatha Ahmed of Kwara State, Dairus Ishiaku of Taraba State, Theodore Orji of Abia State and Yahaya Bello of Kogi State. Others are former ministers: Olu Agunloye, former minister of Power, Mamman Saleh, former minister of Power, HadiSirika, former minister of Aviation, Charles Ugwu, former minister of Industry and Godwin Emefiele, former Governor of the CBN.
“ Another notable arrest and prosecution was the case of 792 investment and cryptocurrency fraud suspects apprehended in a sting operation in Lagos in December 2024. The syndicate included 192 foreigners, who have since been prosecuted for cyber-terrorism and cryptocurrency fraud and deported. This development conveys the message that Nigeria will not tolerate foreigners turning it to a safe haven for cybercrimes.”
“ Another interesting development in the prosecution of corruption cases under Olukoyede, is that cases thought to have been abandoned were reviewed and prosecutions revived. Among them are the cases of Fred Ajudua, former PDP Chairman, Haliru Bello Mohammed, former NSA, Sambo Dasuki, and former managing Director of NSITF, Ngozi Olojeme, among others.”
Regarding the recovery of proceeds of crime, Uwujaren said the commission has made substantial progress.
He said: “The EFCC in two years under Olukoyede recorded the following monetary recoveries: ●N566,319,820,343.40
●US $411,566,192.32
●British Pound £71,306.25
●Euro €182,877.10
●CAD $5,510.00
●Australian Dollar (AUD) AUD $740.00
●Chinese Yuan (¥) ¥89,859.00
●Indian Rupee (₹) ₹1,300.00
●CFA Franc (CFA) CFA 8,381,375.00
●UAE Dirham (AED) AED 70.00
●Saudi Riyal (SAR) SAR 310,265.00
●Ghanaian Cedi (GH₵) GH₵ 225.00
● South African Rand (R) R 50.00
● South Korean Won (₩) ₩73,000.00
“The total forfeited real estate assets in two years is 1,502 properties, comprising 402 in 2023, 975 in 2024 and 125 so far this year.
“The recovered properties include two notable landmarks: the final forfeiture of 753 units of duplexes in Lokogoma, Abuja and the forfeiture of Nok University, now Federal University of Applied Sciences, Kachia, Kaduna State.”
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“Greatest Threat Is Misinformation, Not Technical Glitch” – INEC Chairman Tasks Media On Osun Poll Coverage
The Chairman of the Independent National Electoral Commission, INEC, Prof. Joash Amupitan, SAN, has described misinformation and disinformation as the greatest threat to the August 15 Osun State Governorship Election, urging the media to prioritize verified and ethical reportage.
He made the call on Saturday in Osogbo during an interactive session with media executives, describing journalists as the “Fourth Estate of the Realm” and critical stakeholders in the democratic process.
“However, your role as the Fourth Estate is critical to the survival of the process. In this final day window, the greatest threat we face is not technical failure, but the pathology of misinformation and disinformation,” the INEC Chairman said.
“Fake news, manufactured election-day panics, and the unauthorized declaration of parallel results are direct assaults on our public peace and democratic stability.”
He said the Commission has accredited field reporters through its dedicated portal “because we want you to see everything,” and in return demanded “a commitment to verified, ethical, and dispassionate reporting.”
“Verify your facts before you broadcast. When a glitch occurs in a single polling unit, do not report it as a systemic failure across the entire state,” Prof. Amupitan charged.
“Use your channels to educate voters: remind them that No PVC means No Voting, and that vote-buying remains a criminal offense that our partners at the EFCC and ICPC have been mandated to curb.”
Giving an update on readiness, the Chairman said the just-concluded mock accreditation proved the resilience of the BVAS.
“The Bimodal Voter Accreditation System (BVAS) demonstrated optimal field resilience. On average, it took between 30 seconds to 2 minutes to successfully verify a voter using either their fingerprints or facial recognition,” he stated.
“As a result, we have increased the total number of BVAS for the election from 4,427 to 5,130 so as to service split polling units in large PUs in Ife East, Irewole, Egbedore, Ede North, Osogbo. In the process, we increased the number of back-ups from 664 to 1,328 for quick intervention in case of any malfunction.”
Prof. Amupitan also addressed insecurity, saying INEC has moved “from reactive monitoring to proactive prevention” through ICCES. He listed hotspot LGAs to include Atakumosa East and West, Boripe, Ede North and South, Ife Central, Ifedayo, Ila, Osogbo, Ifelodun, and Oriade.
On inclusivity, he reaffirmed the Commission’s commitment to vulnerable voters.
“Democracy is incomplete if it excludes vulnerable populations. The Commission has integrated practical assistive devices across polling locations based on our disability mapping in Osun State. We have provisions for braille ballot guides for visually impaired voters; magnifying glasses for voters with albinism and low vision; EC40H poster manifests for hearing-impaired citizens and Priority Voting Queues for Persons with Disabilities (PWDs), pregnant women, nursing mothers, and the elderly,” he said.
The Chairman said 32,000 NYSC members have been engaged as ad-hoc staff via the INECPRES portal and that training for Supervisory Presiding Officers has been concluded.
“We do not care who wins the election; we only care how they win. Our sole job is to ensure that the process is clean, that every valid vote counts, and that the declaration reflects nothing but the true sovereign will of the Osun electorate,” Prof. Amupitan concluded.
The session had in attendance National Commissioners, the Osun REC Barrister Oluwatoyin Babalola, NUJ and BON leadership, Bureau Chiefs, Editors and other senior media executives.
News
Coalition want explanation over alleged BVAS failure in Osun mock accreditation exercise
A group, aegis of Coalition of Concerned Nigeria Citizens (CCNC), has called on the Independent National Electoral Commission (INEC) to immediately explain the alleged widespread failure of the Bimodal Voter Accreditation System (BVAS) during Saturday’s mock accreditation exercise conducted ahead of the August 15 Osun State governorship election.
The group alleged that the mock accreditation, designed to test the commission’s readiness for the election, experienced significant technical challenges after commencing in selected polling units across the state, raising concerns about INEC’s preparedness for the governorship poll.
In a statement signed by its spokesperson, Comrade Raufu Sodiq, popularly known as “Oluomo Success,” the coalition claimed that although the exercise was scheduled to begin at 8:30 a.m., it started behind schedule in some polling units. It further alleged that less than 40 minutes after the exercise commenced, many BVAS machines stopped recognising fingerprints, facial features and Permanent Voter Cards (PVCs), preventing the successful accreditation of voters in the affected locations.
Describing the development as disturbing, the group said a mock accreditation exercise should ordinarily boost public confidence in the electoral process, adding that the reported malfunction of the accreditation devices during the test exercise had instead raised questions about the commission’s level of preparedness.
The coalition argued that accreditation remains the foundation of every credible election because it determines voter eligibility and protects the integrity of the electoral process. According to the group, any failure at that stage could undermine public confidence in the outcome of the election if not urgently addressed.
CCNC also queried why such challenges allegedly occurred despite what it described as years of preparation and substantial public investment in electoral technology. It called on the Osun Resident Electoral Commissioner and the national leadership of INEC to provide a comprehensive explanation on the cause of the reported BVAS malfunction and disclose measures being taken to prevent a recurrence during the August 15 governorship election.
Among its demands, the coalition asked INEC to clarify whether the reported glitches resulted from software, hardware or configuration problems, explain its contingency plans for the 3,763 polling units across Osun State, replace any faulty BVAS machines and consider conducting another mock accreditation exercise before the election to restore public confidence.
“We believe in strong democratic institutions and do not want to see INEC fail. However, public confidence must be built on competence, transparency and accountability. The people of Osun deserve an election where every eligible voter can cast their vote without avoidable technological failures,” the statement read.
The group further urged the Chairman of INEC to personally address Nigerians before the governorship election by explaining the outcome of the mock accreditation exercise, outlining corrective measures and assuring voters that all identified technical challenges would be resolved before Election Day.
INEC had organised the mock accreditation exercise to assess the functionality of the BVAS and other electoral processes ahead of the governorship election scheduled for August 15 across the state’s 3,763 polling units.
News
Why I Don’t Beg for Support – Remi Tinubu
Nigeria’s First Lady, Oluremi Tinubu, has given reasons why she does not beg for support, stressing that she only works with what God provides while encouraging young Nigerians to embrace contentment, hard work and patience.
She made the remarks on Friday at the State House in Abuja while receiving the leadership of the All Progressives Congress (APC) National Youth Wing. During the meeting, she presented brand-new buses to the youth leaders to support their activities ahead of the 2027 general elections.
She explained that the vehicles were donated by individuals who support her initiatives and decided to hand them over to the APC National Youth Wing to enhance their operations.
The First Lady commended the APC youth leaders for their conduct, noting that they had never approached her office with requests for personal assistance.
She described their attitude as selfless and said she was pleased to support them because the buses would assist them in carrying out their responsibilities.
Mrs Tinubu also advised Nigerian youths against pursuing quick wealth, emphasizing that lasting success is built on diligence, integrity and perseverance rather than shortcuts.
She urged young people to remain disciplined, patient and committed to hard work, noting that laziness does not produce success.
Using the eagle as an example, the First Lady encouraged the youths to develop resilience and determination in the face of challenges.
She urged them to remain focused on their personal goals instead of comparing themselves with others or becoming discouraged by the achievements of their peers.
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