General
EFCC Laments Crypto Funding of Fraud Syndicates’ Cells
By Adedapo Adesanya
The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, says organised foreign fraud syndicates are establishing cells in Nigerian cities and recruiting youths into serious organised cybercrimes, made easy by cryptocurrencies.
This was disclosed by the anti-graft agency in a statement signed by its spokesperson, Mr Dele Oyewale, on Thursday in Abuja.
Mr Olukoyede said this while receiving participants of the Executive Intelligence Management Course (EIMC) 18 of the National Institute for Security Studies (NISS) on Wednesday in Abuja.
He said the team was led by the institute’s Director of Studies, Mr Hyginus Ngele, to the commission.
Mr Olukoyede expressed surprise at how bandits and insurgents were able to sustain their activities in the country over the years.
He noted with concern, the rate of flow of small arms and light weapons across the borders and the involvement of non-state actors in the illegal exploitation of minerals in parts of the country.
The EFCC boss said all these activities compounded the threats in the security landscape.
“Another dimension that is not given attention is the discovery, recently, that organised foreign fraud syndicates are establishing cells in Nigerian cities.
”They are recruiting young Nigerians into serious organised cybercrimes, including cryptocurrency fraud.
“By the virtue of EFCC’s recent discovery, we are beginning to see the likelihood, the propensity that a lot of these people are into illegal importation of arms into the country using cryptocurrency as means of payment.”
According to him, this is an area that must interest all and sundry.
“In the special operations we carried out in Lagos recently, we arrested 194 foreigners in the heart of Victoria Island.
”They comprised Chinese, Filipinos, Eastern Europeans, Tunisians and among others in one building at a time. You can imagine what these guys are doing, 194 of them.
“Some of them don’t even have valid visas and most of the financial activities they carried out were through cryptocurrency,” he said.
He said the commission also discovered that some of the foreigners arrested were already ex-convicts in their countries.
“Some of them have been convicted and escaped from their countries and found safe haven in Africa, not only Nigeria.
“We discovered that they are also developing cells in some other African countries by virtue of the investigation we are carrying out,” he said.
The EFCC boss called for spirited efforts at both national and continental levels to combat the menace of internet fraud.
He stressed that the money laundering and national security dimension of the presence of foreign organised crime groups demanded close scrutiny.
“All security, intelligence and law enforcement organisations in Nigeria and indeed Africa, must close ranks in dealing with this challenge,” he said.
On his part, the NISS commandant, Mr Joseph Odama, who spoke through Mr Ngele, praised Mr Olukoyede’s leadership of the EFCC for the commission’s “remarkable achievements in combating corruption, money laundering, and other financial crimes.”
He noted that the achievements had not only strengthened Nigeria’s integrity but also served as a model for other nations in Africa and beyond.
He said the EFCC, under Mr Olukoyede, had been at the forefront of investigating and prosecuting financial crimes, including those involving non-state actors.
“Your commission’s exploratory activities have uncovered the intricate networks through which some NGOs and other entities channel funds to support hostile non-state actors, thereby, fueling instability in various parts of the country and the African continent.
“We recognise the critical role the EFCC plays in disrupting these networks and ensuring accountability.
“In light of this, we are particularly interested in hearing your insights on how your commission navigates the complexities of investigating and prosecuting cases involving non-state actors.
“We also seek your contributions on how Nigeria and other African nations can strengthen legal and institutional frameworks to address the challenges posed by these actors while promoting transparency and accountability in their operations.”
By Adedapo Adesanya
Nigeria has finally approved the use of an alphanumeric digital postcode system for the country, 17 years after it was first considered.
According to the Minister of Communications and Digital Economy, Mr Bosun Tijani, the system was okayed at the Federal Executive Council (FEC) meeting on Wednesday, chaired by President Bola Tinubu, in line with the ministry’s strategic blueprint.
He said working in collaboration with the Nigerian Postal Service (NIPOST), the ministry will introduce a modern, geospatially intelligent addressing system that improves accuracy across the country and enables faster and more reliable mail and parcel processing.
“Beyond strengthening postal operations, the Digital Postcode System will also serve as an important national enabler supporting better national planning, improved emergency response, more efficient logistics and e-commerce, and the delivery of government services.
“As our digital economy continues to grow, foundational systems such as this play an essential role in building the infrastructure required to connect people, businesses, and services more efficiently across the country,” he said.
He noted that the approval represents another step forward in the Mr Tinubu-led administration’s commitment to building the enabling environment to support a modern, inclusive, and globally competitive digital economy.
On her part, Ms Tola Odeyemi, the Post Master General and chief executive officer of NIPOST, said the implementation is a foundational step toward building the digital infrastructure required for a modern economy.
“First conceptualised in 2009, this initiative is finally becoming a reality in 2026 under the leadership of President Bola Tinubu and the Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani,” she wrote on X, formerly Twitter.
“A digital postcode system is more than a postal reform. It is critical national infrastructure that enables e-commerce, logistics, emergency services, financial inclusion, security, urban planning, and effective public service delivery,” she added.
By introducing an alphanumeric addressing framework, Nigeria will now be able to identify locations with far greater precision across cities, towns, and rural communities.
“This will significantly improve how goods, services, and digital platforms reach Nigerians everywhere.
“This milestone reflects a shared commitment by the Federal Government to strengthen Nigeria’s digital backbone and unlock new opportunities for innovation, commerce, and national development,” she further stated.
By Adedapo Adesanya
The Nigerian Content Development and Monitoring Board (NCDMB) has intensified its compliance drive in the oil and gas midstream segment, convening a high-level sensitisation workshop aimed at deepening adherence to the Nigerian Oil and Gas Industry Content Development Act.
The workshop, themed Compliance with the Provisions of the NOGICD Act 2010: A Pathway to Industrialization, held in Lagos, drew key operators across gas processing, transportation, storage and infrastructure development.
Speaking on behalf of the Executive Secretary of NCDMB, Mr Felix Ogbe, the Director of Monitoring and Evaluation Division, Mr Omomehin Ajimijaye, described the midstream sector as “a critical bridge between upstream production and downstream utilisation.”
“The midstream segment plays a pivotal role in gas processing, transportation, storage and infrastructure development, all of which are essential pillars for achieving Nigeria’s industrialisation agenda,” Mr Ajimijaye said.
Mr Ajimijaye stressed that adherence to the NOGICD Act goes beyond regulatory obligation.
“Compliance with the NOGICD Act is not merely a statutory requirement,” he stated. “It is a strategic imperative for sustainable national development.”
He explained that the programme was structured to clarify registration processes, Nigerian Content Equipment Certification, expatriate quota requirements, statutory reporting templates and submission timelines.
“Our objective is to deepen stakeholders’ understanding of compliance requirements, address recurring gaps identified during Monitoring and Evaluation reviews, and foster constructive dialogue on operational realities within the midstream space,” he added.
According to Mr Ajimijaye, the board has received feedback from operators highlighting challenges in meeting Nigerian Content obligations, including reporting complexities and varying interpretations of certain provisions of the Act.
“As a responsive regulator and development-focused institution, we remain committed not only to enforcing compliance but also to providing guidance, clarity and the necessary support to enable stakeholders succeed,” he assured participants.
With Nigeria positioning gas as a transition fuel and economic growth driver, regulatory clarity in the midstream space is essential to unlocking investment and local capacity development.
The participants received technical presentations from key NCDMB divisions, including: Monitoring and Evaluation Division, Project Certification and Authorisation Division, Capacity Building Division and Zonal Coordination Division.
The interactive sessions provided practical guidance on engagement protocols with the Board and strengthened collaboration between regulators and operators.
By Adedapo Adesanya
The Minister of Justice and Attorney General of the Federation, Mr Lateef Fagbemi, has taken over the prosecution of his immediate predecessor, Mr Abubakar Malami.
Mr Malami is facing terrorism and illegal firearms possession charges brought against him by the Department of State Service (DSS).
Mr Fagbemi, a Senior Advocate of Nigeria (SAN), took over the trial from the secret police on Wednesday at the Federal High Court in Abuja.
The Director of the Public Prosecution of the Federation, Mr Rotimi Oyedepo, announced the Attorney General’s appearance in the matter.
Mr Oyedepo told Justice Joyce Abdulmalik that the trial cannot proceed because Mr Fagbemi has just taken over the prosecution.
He informed the court that the prosecution needed more time to familiarise itself with the facts of the case.
Counsel to the defendants, Mr Adedayo Adedeji, who did not oppose the application, however, urged the court to strike out the matter if the prosecution fails to open its case at the next adjourned date, citing lack of diligent prosecution.
Justice Abdulmalik subsequently adjourned the matter to March 10 for trial and for the prosecution to formally open its case.
The court had, on February 27, admitted Malami and his son, Mr Abdulaziz, to N200 million bail, with two sureties, each one of whom must own landed property either in Maitama or Asokoro.
Justice Abdulmalik had said that the title of the property must be deposited with the Deputy Chief Registrar of the Court along with valid international passports.
The sureties were also ordered to depose to an affidavit of means and submit their two recent passport photographs to the court.
Mr Malami and his son were also ordered to submit their international passports and recent passport photographs to the court.
The DSS had arraigned the ex-AGF and his son, Mr Abdulaziz, on a five-count charge bordering on terrorism and illegal firearms possession.
In the charge, marked FHC/ABJ/CR/63/2026, filed before the Federal High Court in Abuja, Malami is also accused of refusing to prosecute suspected terrorism financiers, whose case files were handed to him while he served as the AGF and Minister of Justice.
Mr Malami and Mr Abdulaziz are equally accused of warehousing firearms in their residence at Gesse Phase II Area, Birain Kebbi LGA, Kebbi State, without lawful authority.
The DSS accused Mr Malami in count one of the charge, with knowingly abetting terrorism financing, while the ex-AGF and his son are charged in counts two to five, with unlawful, possession of a Sturm Magnum 17-0101 firearm, 16 Redstar AAA 5720 live rounds of cartridges and 27 expended Redstar AAA 5’20 cartridges, contrary to and punishable under relevant Sections of Terrorism (Prevention and Prohibition) Act, 2022 and Firearms Act, 2004.
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