General
EFCC Pleads for Speedy Passage of Delayed Unexplained Wealth Bill
By Adedapo Adesanya
The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukayode, has urged the National Assembly to speedily pass the Unexplained Wealth Bill.
Mr Olukayode made the appeal at the ongoing National Conference on Public Accounts and Fiscal Governance, organised by the Senate and House of Representatives Public Accounts Committees on Thursday.
“Help me pass the Unexplained Wealth Bill, I’ve been begging for the past one year. This same bill was thrown out in the last Assembly. If we don’t make individuals accountable for what they have, we’ll never get it right,” he pleaded.
The bill seeks to go after Nigerians with no known source of wealth or with illicit means of gathering wealth.
Speaking at the event, he said the anti-graft has mounting evidences of people living above their means and there was no clear-cut law holding them accountable.
“In the last three weeks, we started a commission-wide investigation into the extractive industry, particularly the oil and gas sector. What we have discovered is mind-boggling.
“We have only just opened the books. So much more corruption is to be unraveled. If this is what we’re seeing at the surface, imagine what lies beneath.
“There is a very strong connection between the mismanagement of our resources and insecurity.
“When you look at banditry, kidnapping, terrorism, trace it back, and you will find a pattern of corrupt practices and diversion of funds that were meant to improve people’s lives.
“Someone has worked in a ministry for 20 years. We calculate their entire salary and allowances. Then we find five property , two in Maitama, three in Asokoro. Yet, we’re told to go and prove a predicate offence before we can act. That is absurd,” he said.
The EFCC boss urged all Nigerians to put aside creed, politics and ethnic sentiments to block revenue leakage and save the economy of the country.
Mr Olukayode also said that Nigerians should not fail to take advantage presented by President Bola Tinubu’s administration to block revenue leakage as it could spell doom for the country.
According to him, no amount of capacity will be able to recover half of the resources stolen from Nigeria as many host countries are not willing to repatriate.
He said that the best option was to prevent corruption saying that failure to do so, corruption would kill the country.
By Modupe Gbadeyanka
The former chairman of the defunct Skye Bank Plc, Mr Tunde Ayeni, has been apprehended by the Economic and Financial Crimes Commission (EFCC).
Spokesperson of the anti-money laundering agency, Mr Dele Oyewale, confirmed the arrest of the businessman on Friday but declined to provide further details, according to TheCable.
Mr Ayeni was accused of diverting the N36.5 billion and $30 million loans from Polaris Bank Limited to companies with which he has links.
He was alleged to have obtained the credit facilities for marine security, electricity distribution, and real estate projects, but moved them to telecom investments tied to NITEL/MTEL assets via a NATCOM account.
After the Central Bank of Nigeria (CBN) revoked the operating licence of Skye Bank in 2018, it nationalised it to Polaris Bank.
The EFCC has been looking into the alleged diversion of funds by Mr Ayeni, resulting in his arrest in Abuja on Thursday, April 23, 2026.
He is being grilled over the matter and would be arraigned in court once the investigation is concluded.
This is not the first time Mr Ayeni has been nabbed and probed by the EFCC, as this happened a few months after his bank lost its licence.
The then acting spokesman for the EFCC, Mr Tony Orilade, said Mr Ayeni was quizzed by detectives over issues related to fraud and embezzlement allegedly committed by him when he was Chairman of the bank a few years ago.
By Adedapo Adesanya
“We are fully committed to working with the new Commissioner of Police and giving all necessary support towards the successful discharge of his responsibilities.”
By Adedapo Adesanya
The federal government has approved a sweeping increase in peculiar allowances and other welfare benefits for civil servants, aimed at improving take-home pay and boosting morale across the public service.
The announcement was made on Friday by the Head of the Civil Service of the Federation, Mrs Didi Walson-Jack, during a press briefing in Abuja, where she outlined key reforms endorsed by the Federal Executive Council (FEC).
According to Mrs Walson-Jack, the review affects workers under both the Consolidated Public Service Salary Structure (CONPSS) and the Consolidated Research and Allied Institutions Salary Structure (CONRAISS), ensuring a broad-based impact across all cadres.
She said the revised peculiar allowances have been structured to reflect across all grade levels, resulting in a meaningful increase in earnings for both junior and senior officers.
In addition, the government approved an upward review of several key allowances, including duty tour allowance (DTA), estacode, and book allowance.
Mrs Walson-Jack noted that virtually all allowances listed under the Public Service Rules have now been revised.
A major highlight of the reform is the approval of 100 per cent Duty Tour Allowance for civil servants attending approved training programmes, regardless of whether travel is involved.
Beyond salary-related adjustments, the government also introduced a new exit benefit scheme for retiring civil servants under the Contributory Pension Scheme. The scheme provides 100 per cent of a retiree’s total annual emoluments as an exit package, in addition to their pension, effective January 1, 2026.
Mrs Walson-Jack described the move as a step toward ensuring dignity in retirement, stressing that no public servant should leave service without adequate financial support.
The government also confirmed the operationalisation of the Employee Compensation Scheme, designed to provide financial protection for workers who suffer job-related injuries or death.
The reforms come amid growing calls from labour unions for improved welfare, as rising living costs continue to put pressure on workers. Analysts say the combined measures could significantly enhance financial stability for civil servants and improve overall productivity in the public sector.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn