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Group Warns FG Over Nigeria’s Imminent Expulsion From Egmont Group

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By Destiny Ugorji

A civil society organization, Media Initiative against Injustice, Violence and Corruption (MIIVOC) has warned Nigeria’s Federal Government to immediately act on the report of the Committee to harmonize issues around the Nigeria Financial Intelligence Agency Bill, to save the nation from imminent expulsion from the Egmont Group of Financial Intelligence Units.

Executive Director of MIIVOC, Dr Walter Duru, who gave the warning while addressing newsmen in Abuja, Tuesday, expressed shock at what he described as the desperation of the Economic and Financial Crimes Commission (EFCC) to retain control of the NFIU, against the interest of the country and international best practice.

He called on the Federal Government to call the anti-graft agency to order, before it throws Nigeria back to the dark days of being on the list of high risk jurisdictions in the world.

“The crux of the matter is the absence of autonomy for the Nigeria Financial Intelligence Unit (NFIU). Nigeria was suspended at the Egmont Group meeting held in China in July, 2017 following the refusal of Nigeria to make NFIU autonomous in its funding, operations and management of financial intelligence. The failure of Nigeria to pass a law making the NFIU independent is the main issue.

“If Nigeria fails to comply with the group’s demand for a legal framework granting autonomy to the NFIU by March, 2018, the country may be expelled from the global body, which provides the backbone for monitoring international money laundering and terrorist financing activities.

“When expelled, Nigeria will no longer benefit from financial intelligence shared by the other over one hundred and fifty member-countries, including the United States of America and the United Kingdom, while the country’s ability to recover stolen funds abroad will be hampered.

“Another major consequence will be the blacklisting of Nigeria in international finance, and this could affect the issuance of MasterCard and Visa credit and debit cards by Nigerian banks. In fact, financial instruments from Nigeria may not be honoured abroad.

“It could also affect the international rating of Nigerian financial institutions, restricting their access to some major international transactions. Nigeria’s membership of the Egmont Group ensured the removal of Nigerian banks from the blacklist of international finance.

“The blacklisting had prevented the banks from engaging in correspondent banking with foreign institutions and also denied Nigerians access to foreign credit cards.

“Now, the situation is that the 8th Senate has passed a version of the NFIA Bill, which wants the Agency domiciled in the Central Bank of Nigeria, with full autonomy. The House of Representatives passed a different version, proposing that it remains in the EFCC.

“A Committee was set up by the Federal Government to harmonize the differences. The Committee submitted its report late last year and till today, nothing has been done about it.

“Nigeria is at the verge of being expelled from the Egmont group of Financial Intelligence Units. Specifically, in March, 2018, it will take a miracle for Nigeria to escape expulsion from the Egmont Group.

“The controversy over where it should be domiciled is needless, as we already have a clear guide. The version passed by the present Senate can save the situation. The surest way forward is to adopt the Senate version, produce a clean copy and present for immediate assent by the President.

“Anything outside this will fall short of the Egmont standard and place Nigeria in a disadvantaged position. The politics of wanting to continue to control the NFIU by the EFCC is self-serving and will land the country in a deeper mess.

 “The last Egmont group statement about Nigeria is very clear. The issue of autonomy for Nigeria FIU is the crux of the matter. The statement reads in part: ‘……. Nigeria shall remain excommunicated until its commitments to the international community on the fight against money laundering and terrorist financing are met, including the specific issues related to the autonomy of the Nigerian Financial Intelligence Unit.” At this stage, we are talking about outright expulsion of the country from the group.  This will spell doom for the country.

“The Federal Government must call the Economic and Financial Crimes Commission-EFCC to order now, before it is too late. The implications of expelling Nigeria from the Egmont Group are far-reaching. Nigeria will fully return to the list of high risk jurisdiction countries of the world, if the EFCC is not called to order.

“The argument that if the FIU is removed from EFCC, Nigeria will be expelled is the direct opposite of the situation and amounts to outright misrepresentation of facts. Countries like the United Kingdom have had reasons to move their FIU from Serious and Organized Crime Agency- SOCA to National Crime Agency- NCA. Just the same way Nigeria desperately needs to move its FIU away from the EFCC. We need an FIU that enjoys autonomy. The Egmont Group of FIUs and Financial Action Task Force-FATF shall never dictate for any country, where to situate its FIU. There is no such precedence and they have always made this clear. There is no alternative to NFIU autonomy. The surest way out of the looming humiliating expulsion of Nigeria is that the authorities call the EFCC to order. They must stop spewing falsehood and steer clear the FIU,” he said.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Bill Seeking Creation of Unified Emergency Number Passes Second Reading

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Unified Emergency Number

By Adedapo Adesanya

Nigeria’s crisis-response bill seeking to establish a single, toll-free, three-digit emergency number for nationwide use passed for second reading in the Senate this week.

Sponsored by Mr Abdulaziz Musa Yar’adua, the proposed legislation aims to replace the country’s chaotic patchwork of emergency lines with a unified code—112—that citizens can dial for police, fire, medical, rescue and other life-threatening situations.

Lawmakers said the reform is urgently needed to address delays, miscommunication and avoidable deaths linked to Nigeria’s fragmented response system amid rising insecurity.

Leading debate, Mr Yar’adua said Nigeria has outgrown the “operational disorder” caused by multiple emergency numbers in Lagos, Abuja, Ogun and other states for ambulance services, police intervention, fire incidents, domestic violence, child abuse and other crises.

He said, “This bill seeks to provide for a nationwide toll-free emergency number that will aid the implementation of a national system of reporting emergencies.

“The presence of multiple emergency numbers in Nigeria has been identified as an impediment to getting accelerated emergency response.”

Mr Yar’adua noted that the reform would bring Nigeria in line with global best practices, citing the United States, United Kingdom and India, countries where a single emergency line has improved coordination, enhanced location tracking and strengthened first responders’ efficiency.

With an estimated 90 per cent of Nigerians owning mobile phones, he said the unified number would significantly widen public access to emergency services.

Under the bill, all calls and text messages would be routed to the nearest public safety answering point or control room.

He urged the Senate to fast-track the bill’s passage, stressing the need for close collaboration with the Nigerian Communications Commission (NCC), relevant agencies and telecom operators to ensure nationwide coverage.

Senator Ali Ndume described the reform as “timely and very, very important,” warning that the absence of a reliable reporting channel has worsened Nigeria’s security vulnerabilities.

“One of the challenges we are having during this heightened insecurity is lack of proper or effective communication with the affected agencies,” Ndume said.

“If we do this, we are enhancing and contributing to solving the security challenges and other related criminalities we are facing,” he added.

Also speaking in support, Senator Mohammed Tahir Monguno said a centralised emergency number would remove barriers to citizen reporting and strengthen public involvement in security management.

He said, “Our security community is always calling on the general public to report what they see.

“There is a need for government to create an avenue where the public can report what they see without any hindrance. The bill would give strength and muscular expression to national calls for vigilance.”

The bill was referred to the Senate Committee on Communications for further legislative work and is expected to be returned for final consideration within four weeks.

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Tinubu Swears-in Ex-CDS Christopher Musa as Defence Minister

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By Modupe Gbadeyanka

The former chief of defence staff (CDS), Mr Christopher Musa, has been sworn-in as the new Minister of Defence.

The retired General of the Nigerian Army took the oath of office for his new position on Thursday in Abuja.

The Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, confirmed this development in a post shared on X, formerly Twitter, today.

“General Christopher Musa takes oath of office as Nigeria’s new defence minister,” he wrote on the social media platform this afternoon.

Earlier, President Bola Tinubu thanked the Senate for confirming Mr Musa when he was screened for the post on Wednesday.

“Two days ago, I transmitted the name of General Christopher G. Musa, our immediate past Chief of Defence Staff and a fine gentleman, to the Nigerian Senate for confirmation as the Federal Minister of Defence.

“I want to commend the Nigerian Senate for its expedited confirmation of General Musa yesterday. His appointment comes at a critical juncture in our lives as a Nation,” he also posted on his personal page X on Thursday.

The former military officer is taking over from Mr Badaru Abubakar, who resigned on Sunday on health grounds.

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Presidential Directives Helping to Remove Energy Bottlenecks—Verheijen

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Cut Energy Costs

By Adedapo Adesanya

The Special Adviser to President Bola Tinubu on Energy, Mrs Olu Verheijen, says Presidential Directives 41 and 42 have emerged as the most transformative policy tools reshaping Nigeria’s oil and gas investment landscape in more than a decade, by helping eliminate bottlenecks.

Mrs Verheijen made this assertion while speaking at the Practical Nigerian Content Forum 2025, noting that the directives issued by her principal in May 2025, are specifically designed to eliminate rent-seeking, slash project timelines, reduce contracting costs, and restore investor confidence in the Nigerian upstream sector.

“These directives are not just policy documents; they are enforceable commitments to make Nigeria competitive again,” she declared.

She noted that before the directives were issued, Nigeria faced chronic delays in contracting cycles, which discouraged capital inflows and stalled major upstream projects.

“For years, investment stagnated because our processes were too slow and too expensive. Presidential Directives 41 and 42 are removing those bottlenecks once and for all,” she said.

According to her, the directives have already begun to shift investor sentiment, unlocking billions of dollars in new commitments from international oil companies.

“We are seeing unprecedented investment inflows. Shell, Chevron and others are returning with confidence because they can now see credible timelines and competitive project economics,” Verheijen said.

Speaking on the link between streamlined contracting and local content development, she stressed that the directives were crafted to reinforce, not weaken, Nigerian participation.

“Local content is not an obstacle; it is a catalyst. It helps us meet national objectives, contain costs, and deliver projects faster when applied correctly,” she explained.

Mrs Verheijen highlighted that the directives complement the government’s data-driven approach to refining local content requirements while ensuring Nigerian talent and enterprises remain central to new investments.

“Our goal is to empower Nigerian companies with opportunities that are commercially sound and globally competitive,” she said.

She pointed to the current spike in industry activity, over 60 active drilling rigs, as evidence that the directives are driving real operational change.

“We have moved from rhetoric to results. These directives have triggered a new cycle of upstream development,” she said.

The energy expert added that the reforms are critical to achieving Nigeria’s production ambition of 3 million barrels of oil and 10 billion standard cubic feet (bscf) of gas per day by 2030.

“To meet these targets, we need speed, efficiency, and collaboration across the value chain. The directives are the foundation for that,” she noted.

She also linked the directives to Nigeria’s broader regional ambitions, including its leadership role in the African Energy Bank.

“With a $100 million facility now launched, we are ensuring that investment translates into jobs, technology transfer, and long-term value for Nigeria,” she said.

Mrs Verheijen concluded by urging the industry to uphold the spirit and letter of the presidential instructions.

“These directives are a collective responsibility. Government, operators, financiers, and host communities must work together to deliver the Nigeria we envision,” she said. “We remain committed to ensuring Nigeria remains Africa’s premier investment destination,” she said.

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