News
EFCC kicks over Emefiele’s bid to halt forfeiture of $2.4m, properties
The Economic and Financial Crimes Commission (EFCC) has asked the Federal High Court sitting in Lagos to dismiss a motion by the embattled former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, seeking to stop the forfeiture of properties and monies linked to him.
The court had on August 25, 2024 authorised the EFCC to temporarily take custody of the cash sum of $2.045 million, seven choice landed properties and shares linked to Emefiele.
At the resumption of proceedings on Friday, Emefiele’s counsel, Olalekan Ojo (SAN) urged Justice Deinde Dipeolu to stay further proceedings in the case pending the determination of the banker’s appeal.
“We’re urging your lordship to stay proceedings pending the hearing and determination of the Appeal Court in order to avoid judicial rascality,” Ojo said.
However, EFCC’s counsel Rotimi Oyedepo, SAN, who appeared with Bilkisu Buhari-Bala and C.C. Okezie, opposed him, saying Emefiele had not filed any appeal.
According to him, no motion from Emefiele was taken and ruled on that crystallised to an appeal.
Oyedepo said: “My lord, how can the defendant in this case rush to the Court of Appeal because the (Federal High) Court returned the (case) file to the administrative judge for assignment, owing to the fact that the annual vacation of the court ends on the next adjourned date?
“I submit with due respect that the defendant just went to dump mere documents in registry of the Appeal Court. Therefore, I urge the court to hold that there is no appeal.
“Let us even assume there is an appeal, the question will be ‘has the leave of my lord been sought?’ The answer is no.
“My lord, I submit with respect that this appeal cannot stop the proceedings in this matter because the leave of the court was not sought, as the rule of court has made it mandatory when it is an appeal filed on the ground of mixed fact and law.
“I submit that there is no appeal against the decision of your lordship. In an interlocutory appeal, the application of the appellant must first be taken first by the lower court before going to the higher court.
“This party has not shown any exceptional circumstances that will warrant ant stay of proceedings.
“The purported appeal has no bearing in the final determination of this case.”
“Therefore, I urged the court to hold that there is no appeal and proceed with the hearing of pending applications.”
Justices Dipeolu adjourned ruling on the issue till October 11.
The Inspector-General of Police, Kayode Egbetokun, the Nigeria Police Force has directed his men to resume the issuance of tinted glass permits across the country.
This development was announced in a statement released on Wednesday by the Force Public Relations Officer, Olumuyiwa Adejobi.
According to the Force spokesperson, the move comes in response to rising concerns and complaints from the public over the harassment of vehicle owners by law enforcement agents for using factory-fitted tinted windows.
“The Nigeria Police Force, under the directive of the Inspector-General of Police, IGP Kayode Adeolu Egbetokun, Ph.D., NPM, has reactivated the issuance of Tinted Glass Permits (TGP) nationwide through a secure and user-friendly digital platform.
“This initiative comes in response to widespread public complaints about the harassment of motorists over the use of tinted windows and reflects the need for a clear, transparent, and accountable process for regularising factory-fitted tinted glass on vehicles”, the statement partly read.
Highlighting the prevalence of modern vehicles designed with tinted windows for comfort and aesthetics, the police emphasised the importance of having a formal system to regulate usage.
“With modern automobiles increasingly manufactured with tinted windows, it has become essential to provide a standardised system that accommodates legitimate use while ensuring public safety.
“Tinted vehicles have often been exploited for criminal purposes, including kidnapping, armed robbery, ‘one-chance’ scams, and other forms of banditry”, Adejobi explained.
According to the statement, the abuse of tinted windows by criminals creates operational challenges for law enforcement and compromises national security.
In addition, he explained that law enforcement will begin active implementation after the grace period, and the police warn that officers who misuse the enforcement process will be sanctioned.
“Enforcement will commence at the end of this period. Officers found engaging in unprofessional conduct, such as extortion or harassment, in the course of enforcement will be decisively dealt with in accordance with extant disciplinary procedures”, he said.
By Gloria Ikibah
The Central Bank of Nigeria (CBN) has announced a revised documentation requirement for transactions conducted through the Pan-African Payment and Settlement System (PAPSS) in Nigeria.
This was disclosed in a statement issued by the apex bank’s acting Director, Corporate Communications, Mrs. Hakama Sidi Ali
The CBN said the new initiative is part of its ongoing commitment to foster seamless intra-African trade, financial inclusion, and operational efficiency for Nigerians engaging in cross-border payments within Africa.
Launched by Afreximbank in partnership with the African Union and the African Continental Free Trade Area (AfCFTA) secretariat in January 2022, PAPSS serves as a centralized payment and settlement platform that enables instant, secure, and efficient cross-border transactions throughout Africa.
By facilitating payments in local currencies, PAPSS minimizes reliance on third-party currencies, reduces transaction costs, and supports the rapid expansion of trade under the AfCFTA.
In a recent circular referenced TED/FEM/PUB/FPC/001/006 issued on April 28, 2025, CBN outlined the key changes to the documentation requirements associated with PAPSS transactions.
The key changes it added take effect immediately and include simplified documentation for low-value transactions, which allows customers to now use basic KYC and AML documents provided to their authorized dealer banks for low-value transactions of up to $2,000 and $5,000 equivalent in naira for individuals and corporate bodies, respectively.
“For transactions above the thresholds, all documentation as stipulated in the CBN foreign exchange manual and related circulars remains mandatory,” the bank said.
Also, the CBN added that applicants are responsible for ensuring all regulatory documents are available to facilitate the clearance of goods, as required by relevant government agencies.
“Authorized dealer banks may now source foreign exchange for PAPSS settlements through the Nigerian foreign exchange market, without recourse to the CBN.
“All export proceeds repatriated via PAPSS shall be certified by the relevant processing banks.
“The Central Bank of Nigeria urges all banks to adopt PAPSS and commence originating transactions in line with this new policy.
“In addition, CBN encourages exporters, importers, and individuals to familiarize themselves with the new requirements and leverage PAPSS for cross-border transactions within Africa,” the statement said.
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