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Our investigators taking bribe – EFCC Chairman admits

Published

2 days ago

January 3, 2025

The Chairman, Economic and Financial Crimes Commission, Mr Ola Olukoyede, has said some of the investigators are in the habit of demanding bribes from crime suspects, thus eroding the integrity of the agency.

Olukoyode warned the erring anti-graft agency’s investigators that they would be dealt with if they failed to retrace their steps with the policy’s guidelines, which are erected on responsibility, accountability, and transparency.

The EFCC boss made this known to the Commission’s members of staff during his New Year address at the Headquarters in Abuja.

President Bola Tinubu appointed Olukoyede as the EFCC helmsman in October 2023, following the suspension of Abdulrasheed Bawa in July, over suspected infractions while in office.

He told the agency staff that the public views about their operations are not friendly, saying, “At this point, I need to strongly reiterate the issue of discipline, integrity and sense of responsibility in the way we do our work. Public opinions about the conduct of some of our investigators are adverse. The craze and quest for gratification, bribes and other compromises by some of our investigators are becoming too embarrassing and this must not continue.

“Let me sound a note of warning in this regard. I will not hesitate to wield the big stick against any form of infraction by any staff of the Commission. The Department of Internal Affairs has been directed to be more ardent in its work and monitor every staff in all their engagements. The image of the Commission is too important to be placed on the line by any corrupt officer.”

Earlier in his address, the anti-graft agency’s boss urged the staff to be up and doing, as he added that the development of the country depends on the competence of the Commission in dealing with corruption.

Olukoyede said, “As you would recall, our new policy drive is premised on a three-pronged agenda and blueprint. The first plank of the agenda is properly focusing on the mandate of the EFCC. All over the world, the major objective of the war against corruption and financial crimes is to drive economic development and create wealth and job opportunities for the populace. We need to come to these realities and operate by them. Our nation is in dire straits. We need to continue to do everything possible to stimulate the revenue profile of Nigeria.

“There is no agency of government as crucial to the nation’s quest for growth and development as the EFCC. We have all it takes to bring up the profile and developmental index of our nation. I urge all of you to be steadfast and committed to this clarion.”

He urged the staff to adhere to the rule of law, and strife to promote the image of the agency and protect the reputation of the country, in order to attract foreign investors, with the direct aim of boosting the economy of Nigeria.

“The second plank of our policy direction is putting modalities in place for running the administration and governance of the nation at various levels in a most responsible, accountable and transparent manner as well as building and promoting the international image and reputation of Nigeria in the eye of the world as a country that is worthy of attracting foreign direct investments. To achieve all these, preventive mechanisms against corruption, adherence to the rule of law and engagement of diverse publics in the nation in the fight, are imperative,” he stated.

“I equally talk about the overarching need for a transactional credit system as a potent means of keeping corruption at bay. We need to encourage this and motivate Nigerians in this area. I want to particularly harp on the preventive modality which is the centerpiece of our new engagement. We are already building strength in this area through the restructuring of the layers of the Commission. I want every staff to be in tune with the new arrangement.”

Speaking about the arrest and bail guidelines, the EFCC boss said, “Let me also talk about the review of the arrest and bail guidelines which I expect everyone to be familiar with by now. The review is informed by the need for us to conform with international best practices in law enforcement.

“We are a civilised anti-graft agency. Arrest and bail would henceforth be done in line with the rule of law. Our investigators should particularly take note of this. It is important for us to understand the dynamics of the world in the area of law enforcement. Change is the most permanent fact of life. We should not be seen to be resisting changes in our work.

“We are mindful of the increasing need for the welfare of staff and steps are being taken in this regard. I may not talk about specifics. However, the new year promises to bring smiles on the faces of staff across all the Commands. We will continue to do our best to put all of you at your best. However, to whom much is given, much is expected.

“Lastly, I have always said that we are all privileged to be staff of the EFCC. There is this Latin phrase that says, noblesse oblige, meaning, nobility demands responsibility. This is the crux of the matter. We should dignify the privilege of being EFCC staff with proportionate responsibility. It is both a duty and an obligation. I wish you all the best in the New Year.”

The Legal Attache of the United States’ Federal Bureau of Investigation (FBI), Jack Smith, hailed the appointment of Olukoyede as the EFCC boss, when he paid him a courtesy visit, in November last year, praising him that “the rebranding and other positive initiatives are good.”

EFCC is currently investigating the alleged N37.1 billion fraud under the former Minister of Humanitarian Affairs, Disaster Management and Social Development, Saddiya Umar Faruq.

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SEE Today’s Black Market Exchange Rate: Dollar (USD) To Naira (NGN) – January 5, 2025

Published

31 minutes ago

January 5, 2025

Kayode Sanni-Arewa

By Kayode Sanni-Arewa

What is the Dollar to Naira Exchange Rate in the Black Market (Parallel Market)?

Here’s the latest information on the Dollar to Naira black market exchange rate for January 4, 2025. Check below for the rates at which you can exchange your dollars for Naira.

How Much is a Dollar to Naira Today in the Black Market?

Here’s the latest information on the Dollar to Naira black market exchange rate for January 4, 2025. Check below for the rates at which you can exchange your dollars for Naira.

How Much is a Dollar to Naira Today in the Black Market?

According to sources at the Bureau De Change (BDC), the exchange rate for a dollar to Naira at the Lagos Parallel Market (Black Market) is as follows:

Buying Rate: ₦1,665
Selling Rate: ₦1,670
Please note that the Central Bank of Nigeria (CBN) does not recognize the black market and advises individuals to approach their banks for foreign exchange transactions.

Dollar to Naira Black Market Rate Today:

Buying Rate: ₦1,665

Selling Rate: ₦1,670

Dollar to Naira CBN

Rate Today:
Highest Rate: ₦1,540
Lowest Rate: ₦1,531

Note: Actual rates may vary depending on the transaction and location.

News

Tax Reform Bills: Tinubu moves to gather Northern Support

Published

2 hours ago

January 5, 2025

Naijablitznews

President Bola Tinubu has initiated extensive outreach to northern elites and the political class in a bid to garner support for the passage of contentious tax reform bills currently under consideration by the National Assembly.

Overview of the Bills
The tax reform bills,introduced in October 2024, include:

The Nigeria Tax Bill 2024
The Nigeria Tax Administration Bill
The Nigeria Revenue Service (Establishment) Bill

The Joint Revenue Board (Establishment) Bill
These proposals aim to reform Nigeria’s tax administration and enhance revenue collection systems. However, they have faced significant resistance, particularly from northern governors who argue that the reforms could disproportionately affect their regions and hinder economic development.

Tinubu’s Strategy
Presidency insiders revealed that President Tinubu has employed a multifaceted approach to address concerns raised by stakeholders, particularly from the northern political elite. This includes private consultations, strategic dialogue, and discreet “back channel” negotiations.

A senior official, speaking to The Punch anonymously, noted, “The President has been engaging with northern elites both individually and in groups, even prior to the holiday season.”

Another source disclosed that Tinubu is leveraging alternative methods to address objections to the bills, stating, “He is using every available channel to ensure that the contentious aspects of the bills are clarified and resolved.”

Northern Governors Remain Opposed
Despite Tinubu’s outreach efforts, northern governors have maintained their opposition. They insist that the bills should be withdrawn to allow for broader consultation and revisions. The governors argue that the proposed reforms could:

Increase the tax burden on their states,
Stifle economic growth, and
Exacerbate financial hardship for citizens.

The federal government, however, has defended the reforms as necessary steps to:

Boost Revenue Generation: Diversify income streams and reduce reliance on oil.
Modernize Tax Administration: Streamline revenue collection for efficiency and transparency.
Public Reactions
The proposed reforms have sparked heated debates nationwide. While proponents argue that they are essential for Nigeria’s fiscal sustainability, critics contend that they could lead to increased taxation and worsen the economic struggles of ordinary Nigerians.

As the debate intensifies, President Tinubu’s ability to navigate these challenges and secure buy-in from critical stakeholders will significantly influence the bills’ passage and their broader implications for Nigeria’s economy.

News

Update on Warri Refinery as Marketers Set to Load Petrol Soon

Published

2 hours ago

January 5, 2025

Naijablitznews

Oil marketers have started loading Automotive Gas Oil (diesel), and Kerosene from the Warri Refining and Petrochemical Company.

Dealers confirmed this during the weekend, as they demanded Premium Motor Spirit (petrol) from the recently rehabilitated plant.

WRPC, under the management of the Nigerian National Petroleum Company Limited, came on stream on December 30, 2024, after the Group Chief Executive Officer of NNPCL, Mele Kyari, announced its resumption of operations during a tour of the facility.

Speaking with one of our correspondents on Friday at the refinery, the Chairman of the Delta State chapter of the Independent Petroleum Marketers Association of Nigeria, Harry Okenini, said though the plant was working, it was not at 100 per cent functionality.

He, however, pointed out that marketers had started lifting diesel and kerosene from the refinery.

“Right now, there is no production of petrol. So, we are not loading PMS. We hope to load PMS soon. We can confirm to you that the plant is working although not at 100 per cent. And IPMAN, Warri Depot Unit, is waiting for the production of PMS so that we can load.

“For now, only the Automotive Gas Oil, popularly called diesel, and Dual Purpose Kerosene are being produced and loaded out for consumption.

He, however, pointed out that marketers had started lifting diesel and kerosene from the refinery.

“For now, only the Automotive Gas Oil, popularly called diesel, and Dual Purpose Kerosene are being produced and loaded out for consumption.

“Hopefully, by February, we are expecting cooking gas, PMS, and other products to come out. As of now, the retail unit is only loading AGO and DPK,” he added.

Also speaking with our correspondents at the refinery, the National Chairman of the Surface Tank and Kerosene Peddlers, a branch of NUPENG, Israel Omokere, stated that the refinery was in operation.

He said, “Hopefully the PMS will come on board. We are loading kerosene and AGO for now.”

On his part, the Delta State Chairman of Surface Tank and Kerosene Peddlers branch of NUPENG, Kingsley Erituoyo, said, “For so many years the refinery was down, today the refinery is up.

Findings at the Warri refinery by our correspondents showed scanty movement of trucks in and out of the complex.

It was observed that skeletal activities were ongoing at the WRPC, compared with the heyday of the refinery when the company was working at full capacity.

Industry sources disclosed that there was more to be put in place by the Federal Government and the NNPCL for the refinery to commence full-scale production of PMS.

During the visit to the WRPC complex, it was also observed that the main entrance to the refinery looked almost as if nothing was going on.

Security operatives at the gate stopped journalists from taking photographs on the premises.

Sources inside the refinery said only one of three units of the refinery was functional and producing diesel, gas, and kerosene.

“For now, only one unit is working at the refinery. You know there are three units; but only one is in operation, producing diesel, gas, and kerosene.

The unit can’t give fuel for now. If the second unit starts working, it can produce PMS. It is the last unit to operate because it’s very big and complicated.

“If all units are working, we can load over 100 trucks daily, now it loaded about 50 trucks,” a source said.