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The Economic and Financial Crimes Commission has disclosed how public funds were moved from a local government account to a private company before being transferred into cryptocurrency wallets.

The EFCC Chairman, Ola Olukoyede, disclosed on Monday while addressing media executives and journalists in Abuja, stressing that the commission could not ignore the suspicious movement of public funds.

Olukoyede, however, did not disclose the local government, company or state involved in the transaction.

He said the commission’s Fraud Risk Assessment and Control Department had detected the suspicious transactions and intervened by freezing the funds for 72 hours to establish their destination and purpose.

Olukoyede, however, expressed his displeasure over people who called for his head as a result of the action taken by his agency.

He said, “When we see money moving suspiciously, we move in and freeze it in the interim. I know some of you are calling for my head. The account was frozen for 72 hours. Okay, come and show where this money is going? Why are you moving money? We saw money being moved from the local government account to a company. Apart from that phase, we discovered that the money has gone into cryptocurrency wallets.

“Is that the road to build? Is that the power to generate cryptocurrency wallets for your people? Are you asking me to close my eyes and not do something like that? Then you don’t need me in this office.”

The EFCC boss said the development underscored the need for law enforcement agencies to shift from waiting for public funds to be stolen before taking action to preventing suspicious transactions from being completed.

“Why must we be waiting for money to be stolen? Why can’t we change the narrative? And that’s the main thing we need to bring to the office,” he said.

The disclosure comes against the backdrop of an outcry earlier in the month after the EFCC froze an account belonging to the Osun State Government, days before the August 15 governorship election.

However, Olukoyede did not link the transaction he cited to Osun State or any other particular state.

Olukoyede also said cybercrime had evolved beyond the traditional perception of “Yahoo Yahoo,” noting that some young people were being used as fronts by public officials to move allegedly stolen funds through cryptocurrency wallets.

He said, “We have gotten to a stage in Nigeria now that public officials steal money and they put it in cryptocurrency wallets.

“Most of the directors we are investigating now, you can’t trace tangible assets to them. They steal this money, give it to students, give it to young people. They open cryptocurrency wallets all over the world. They plunder the money there within 24 hours.

“The money moves abroad. They buy a house anywhere in the world, buy luxury items. Those are the recent trends.”

The EFCC boss also disclosed that the commission had developed the capacity to trace cryptocurrency wallets, particularly those linked to virtual asset platforms registered in Nigeria.

According to him, about 40 virtual asset platforms had been licensed, following regulatory measures introduced to strengthen oversight of the sector.

“Now we also have the capacity to trace cryptocurrency wallets now, at least with those that are registered in Nigeria, and we are doing that,” he said.

Reeling out the achievements of the commission in the last three years, Olukoyede said the commission had also recovered virtual assets in connection with the CBEX fraud, but identified the management of confiscated cryptocurrency as a challenge that had previously created accountability concerns.

“When you recover virtual assets, where do you put them? No accountability. That’s why we can’t continue like this,” he said.

He disclosed that the Federal Government had consequently approved the establishment of a national confiscation wallet where virtual assets recovered by law enforcement agencies would be kept.

“Today, now we have a national confiscation wallet. So if I confiscate virtual assets now, it’s a national wallet that we put into those,” he said.

Olukoyede further warned that the increasing use of cryptocurrency to move illicit funds required stronger technological capacity among financial and law enforcement institutions.

He said, “When we are talking about cybercrime, please cooperate with us, understand the scope. Not just Yahoo. Some of the people you are calling Yahoo, see your young children; they are stealing on behalf of London, on behalf of public servants.”

Olukoyede said the commission’s anti-corruption activities had also contributed significantly to revenue mobilisation, with federal and state tax recoveries amounting to approximately N288.1bn during the period under review.

He said the figure comprised about N173.2bn in federal tax recoveries and N114.9bn attributed to State Internal Revenue Services.

Oluyede also said more than 40 of its personnel were dismissed for alleged corruption and financial malpractice in the past two and a half to three years.

He added that some of the dismissed officials were already facing prosecution, while case files involving others were being prepared for prosecution.

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Governor Abdullahi Sule of Nasarawa State has said President Bola Ahmed Tinubu is fully aware of the hardship Nigerians are facing as a result of ongoing economic reforms.

Speaking during the Nasarawa State All Progressives Congress (APC) stakeholders’ meeting held at the Government House, Lafia, the governor said the President recognizes that while key economic indicators are improving, the impact has not yet reached ordinary citizens.

“The President said these are the challenges, these are the issues,” Gov. Sule told party stakeholders.

He said Tinubu directed governors to “go ahead and continue massive rural roads so it will help the people in the villages. Go ahead and provide water for these people. Go ahead and provide power to these people. Go ahead and engage in some kind of empowerment.”

He explained that despite improvements in foreign reserves, which have risen from under $30 billion to over $50 billion, and a capital market now worth hundreds of trillions, many citizens still feel no change.

“If you tell somebody from Angwan Takpa that foreign reserve is over 50 billion dollars, he will tell you, ‘What does that mean?’ It means nothing to him,” the governor said.

“If you tell the person that the capital market is flying, he will tell you, ‘How does that affect me? I’m not concerned.’”

To cushion the effect, Sule disclosed that $1 billion has been released by the Federal Government to relevant departments for direct interventions, including rural infrastructure, water, power, and empowerment programs.

On the state’s finances, Governor Sule said Nasarawa has witnessed significant improvement in federal allocations, rising from about ₦13 billion to a record high last month.

This, he said, has enabled the government to undertake more projects without borrowing, and has necessitated a supplementary budget currently before the State House of Assembly.

“Things have actually improved significantly, and that’s the reason why you are seeing all the work you are seeing without us borrowing anything from anywhere,” he stated.

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The Nigerian Air Force (NAF) has opened its 2026 recruitment exercise for Nigerians seeking to join the Service as tradesmen/women and non-tradesmen/women.

The recruitment portal will open on Thursday, September 3, 2026, and remain accessible to eligible applicants until October 14, 2026.

The Air Force made this known in a notice posted on its official 𝕏 handle on Wednesday, announcing the commencement of the NAF Basic Military Training Course (BMTC) 47/2026 recruitment exercise.

According to the Service, the application is completely free, and prospective applicants have been advised to carefully go through the eligibility criteria and application guidelines before submitting their forms.

Applicants seeking to enlist as tradesmen/women must be between 18 and 27 years old as of March 1, 2027.

For non-tradesmen/women, applicants must be between 18 and 22 years old by the same date.

All applicants must be Nigerian citizens by birth and meet the minimum height requirements of 1.66 metres for males and 1.63 metres for females.

The NAF also requires applicants to be medically, physically and psychologically fit and meet the Service’s established medical and employment standards.

Requirements For The Nigerian Air Force Recruitment
For tradesmen/women, applicants with National Diploma (ND) or National Certificate in Education (NCE) qualifications must have obtained their certificates from accredited institutions.

They must also possess at least five credits, including Mathematics and English Language, in not more than two sittings in WAEC, NECO, GCE, NABTEB or NBAIS.

Applicants seeking positions in driving and other trades requiring a Trade Test must possess the relevant Trade Test certificate and satisfy the applicable Senior Secondary School Certificate Examination requirements.

Those applying as drivers must also have a valid driving licence.

For non-tradesmen/women, applicants must possess at least five credits, including Mathematics and English Language, in the relevant examinations.

They must also have their Primary School Certificates and Secondary School Testimonials.

The NAF said successful applicants would be required to complete an Acknowledgement Form, Parent/Guardian Consent Form and Local Government Area Attestation Form.

The attestation form may be endorsed by a military officer from the applicant’s state of origin not below the rank of Wing Commander in the Air Force or an equivalent rank in the Nigerian Army or Navy.

It may also be signed by a police officer not below the rank of Chief Superintendent of Police, a substantive local government chairman or secretary, or a magistrate from the applicant’s state of origin.

The completed attestation form must carry the applicant’s passport photograph and a photocopy of the signatory’s driver’s licence, National Identity Card or international passport.

The Air Force said successful applicants would later be invited for the zonal general aptitude test.

The date for the test will be announced through the recruitment portal, while only candidates who make it through the aptitude test will be invited for the interview stage.

The NAF warned prospective applicants to be cautious of fraudsters, stressing that the recruitment exercise is free of charge.

Interested Nigerians are advised to obtain full details and submit their applications through the official NAF recruitment portal.