In a Three-point Agenda, the new Economic Financial and Crimes Commission (EFCC), Chairman Ola Olukoyede promised to engender the need for collective responsibility and commitment to solving financial crimes with the Citizens.

He would emphasize prevention of crimes by blocking leakages through Transactional Credit System rather than very costly enforcement options!
*And collaborate with the Third tier to ensure that adjudication of the Criminal Justice System worked seamlessly. During his confirmation screening by the Nigerian Senate on 19th October 2023, on 19th he disclosed that Section 6 of the EFCC Act emphasizes diligent focus on all issues relating to fraud management regulatory compliance: which should act as a driving force to economic development, create environment for transparency and accountability in all government activities and build international image for foreign direct investments. With not less than 10 year-working experience in the EFCC, WE believe that he would prove his mettle in probity, commitment, dedication and diligence. However WE must warn him against MEDIA TRIALS which was the modus operandi of his successors who all failed woefully!

Find below records of his achievements immediately he swung into action with his dedicated team sleuth hounds!

MEDIA REPORTS - DAILY POST & PUNCH. - EFCC RECOVERS N70BN WITHIN 100 DAYS [DETAILS].
Published on 3rd February 2024

The Economic and Financial Crimes Commission, EFCC, says it has recovered a total of N70 billion within 100 days, between October 2023 and January 19, 2024.
Details of the recovery were outlined in an EFCC document titled, ‘Operations and Recoveries’.
The document revealed that between October 2023 and January 19, 2024, the EFCC recovered N60,969,047,634.25, $10,522,778.57, £150,002.10, €4,119.90, making a total of N70,556,658,370.5 recovered by the anti-graft commission within the period. Within the same period, the Commission said it received a total of 3,325 petitions, accepted 2,657 of them and secured the convictions of 747 persons for financial crimes, ranging from money laundering to internet fraud.
A breakdown of the data shows that the EFCC headquarters alone recovered N49,607,391,330.44, $3,900,200.75, £2000, and £110.

The Maiduguri Zonal Command recovered N58, 065,870 and $3,370. Gombe Command recovered N127, 323,028.50 and $1,500. Kano Command recovered N141, 944,451 and $365.
Makurdi Command recovered N53, 228, 325. Enugu Command recovered N202, 117,000 and $1,950. Uyo Command recovered N25, 299,950 and $710. Port Harcourt Zonal Command recovered N2, 412,247,210.05 and $5,714,389.21. Sokoto Command recovered the sum of N100, 696,118.72. Kaduna Command recovered N331, 494,710.81, $912, £50, and €1,610.
The Ilorin Command recovered N80, 280,580.86 and $880. Abuja Zonal Command recovered N825,928,463 and $10,000, while Ibadan Zonal Command recovered N135,519,810, $14517, £280, and €500. Lagos Zonal Command recovered N6, 826,993,798.78, $868,284.61, £147,672.10, and €1899.90. The EFCC, through its Benin Zonal Command, also recovered N49, 515,987.09 and $5,700."

PUNCH NEWSPAPER: PUBLISHED SUNDAY 4TH FEBRUARY 2024.

EFCC RECOVERS N30BN FROM HUMANITARIAN MINISTRY'S LOOTED FUNDS.

The Economic and Financial Crimes Commission has recovered over N30bn from the N37,170, 855,753.44 allegedly laundered in the Ministry of Humanitarian Affairs under the former minister, Sadiya Umar-Farouk. Sources in the anti-graft agency, who spoke with our correspondent on Friday, said the commission had also uncovered over N500m from the scam associated with Umar-Farouk’s successor, Betta Edu, who was recently suspended by President Bola Tinubu.
Saturday PUNCH had in December reported that N37, 170,855,753.44 was transferred from government coffers and sent to 38 different bank accounts domiciled in five legacy commercial banks belonging to or connected with a contractor, James Okwete. It was gathered on Friday that N30bn was recovered by the EFCC following the placement of a lien on the bank accounts of Umar-Farouq and Okwete, who are still being grilled by the anti-graft agency’s investigators.

The Agency is still grilling Edu in connection with an alleged N17bn fraud, while the suspended Coordinator of the National Social Investment Programme, Halima Shehu, is also still being questioned over an alleged N44bn fraud.

An EFCC source revealed, “The commission has now recovered over N30bn from the laundered N37.1bn that was linked to former minister Sadiya Umar-Farouq. We were able to recover the money after we placed liens on the bank accounts of the former minister and the contractor, Mr Okwete, who was linked to the fraud under probe. Both the minister and the contractor are still being grilled by our investigators daily.”

A senior EFCC investigator added, “We have uncovered another N17bn money laundering from the Ministry of Humanitarian Affairs, and for the alleged fraud linked to the suspended minister, Betta Edu, we have so far recovered over N500m. Edu is still answering questions about the fraud. “The NSIPA coordinator, Halima Shehu, is still being grilled over the N44bn fraud linked to her at the NSIPA; our investigators aren’t leaving any stone unturned.”
When contacted for comments on the development, the spokesperson for the EFCC, Dele Oyewale declined comments.


HISTORY OF EFCC

The Economic and Financial Crimes Commission, EFCC, was established by an Act of the National Assembly on 12th December, 2002 by the administration of President Olusegun Obasanjo. Following the appointment and confirmation by the Senate, of the pioneer Executive Chairman, Mallam Nuhu Ribadu and other administrative officers, the operational activities of the Commission commenced on April 13, 2003.
The establishment of the Commission was partly in response to pressure from the Financial Action Task Force (FATF) on Money Laundering, also known by its French name, Grouped'actionfinancière (GAFI).

GAFI is an intergovernmental organisation founded in 1989 on the initiative of the G7 (Group of Seven), an inter-governmental political forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States of America to develop policies to combat money laundering.

FATF had ranked Nigeria as one of the 23 countries that were non-cooperative in the combined efforts to fight money laundering globally. Due to identified inadequacies in the 2002 Establishment Act, the national Assembly repealed it and re-enacted the 2004 Establishment Act was signed into law on 4th June 2004 by President Obasanjo.

Mallam Ribadu, the pioneer chairman of the EFCC, was handed the monumental task to midwife the agency. Within a few months of its emergence on the scene, the Commission had forced itself into public consciousness having taken out of circulation all the 419 kingpins (419 in Nigerian parlance, means offenders whose crimes are contrary to Section 419 of the 1999 Constitution of the Federal Republic of Nigeria (as amended).

These where people hitherto considered untouchable. The Fred Ajuduas, the Emmanuel Nwudes, the Maurice Ibekwes, the Ade Bendels, the AmakaAnajembas and the NzeribeOkolis among many others were all arrested and prosecuted.

During his term, outside of the headquarters located in Abuja, the Lagos, Port Harcourt, Enugu, Kano and Gombe Commands were established each representing the geo-political zones of the country, for ease of operation. In December 2007, Ibrahim Lamorde, DIG, Retd took over the affairs of the Commission in acting capacity and in January 2008 Mrs. Farida Waziri, AIG Retd, was appointed by President Umaru Musa Yar’Adua as the Chairperson of the Commission. Lamorde handed over to Waziri on June 6, 2008 following her clearance and confirmation by the Senate in June 2008.

Following his appointment by President Goodluck Jonathan, Lamorde took over from Mrs. Waziri on November 23, 2011 in acting capacity. He was confirmed as substantive Chairman of the EFCC on February 15, 2012. On November 9, 2015, President Muhammadu Buhari replaced Lamorde with Ibrahim Magu as the acting EFCC chairman. In about five years at the helms of affairs, Magu established seven Commands and reopened the Maiduguri office earlier opened by Mrs. Farida but closed due to the activities of Boko Haram in the North East. The seven Commands were: Ibadan, Kaduna, Benin, Makurdi, Sokoto, Ilorin and Uyo. Mohammed Umar Abba, Deputy Commissioner of Police (DCP), on July 9, 2020 took over the affairs of the Commission on interim basis. Seven months after, on February 24, 2021, the Senate of the Federal Republic of Nigeria confirmed Abdulrasheed Bawa, CFE, CAMS, whose name was submitted by President Muhammadu Buhari as the substantive Executive Chairman of the Commission. Bawa took over from Umar Abba on 5th March, 2021.

“Following Wednesday, June 14, 2023, suspension of Mr. Abdulrasheed Bawa, as Executive Chairman by the Federal Government, Mr. Abdulkarim Chukkol stepped in as Acting Chairman of the Commission. Until this new role, Chukkol was the Director of Operations of the Commission.” The new Chairman who doubles as a PASTOR should be guided by the Scripture, ‘’……Not by might, nor by power, but by My Spirit says the LORD of Host’’ (Zech 4:6b).

[EXPECT A PRIME MINISTER IN NIGERIA NOW!]





I am, yours sincerely, THE WATCHMAN Dr. David B.A. Olufon, 08130669886, 08080243066. g-mail-dvdolufon@gmail.