General
Olukoyede Advocates Collaboration Amid Rising West, Central Africa Illicit Flows
By Adedapo Adesanya
The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, has raised the alarm over the escalating threat of illicit financial flows and cyber-enabled fraud draining the economies of West and Central Africa.
This has led the EFCC helmsman to call for urgent inter-agency collaboration and long-term investment in law enforcement capacity to combat the crisis.
Speaking at the opening of a three-day regional training workshop themed Strengthening Capacity and Coordination against Transnational Regional Financial Crimes, organized by Interpol and the Japan International Cooperation Agency (JICA), he warned that criminal enterprises are evolving quickly, and increasingly transnational in nature.
“The security challenges we face in this region today are largely funded by money laundering and illicit financial flows. Our poorly regulated mining sectors, cash-based economies, and an ungoverned virtual assets ecosystem have made West and Central Africa extremely vulnerable.
“Recent EFCC operations have uncovered syndicates involving foreign nationals, especially from Southern Asia. They are setting up operational cells in Nigeria and other countries. Dismantling such networks requires a coordinated, multi-agency response both locally and internationally,” he stated.
The EFCC boss emphasized the need for collaboration beyond borders, through intelligence sharing, joint tactical operations, and specialized training, especially in new frontiers like sextortion and crypto scams.
“We are not just dealing with traditional financial crimes anymore. The future of economic security in our region depends on how fast we can adapt to the evolving typologies of cybercrime,” he said.
Mr Olukoyede, who also serves as President of the Network of Anti-Corruption Institutions in West Africa, NACIWA, outlined a vision for tighter regional enforcement partnerships.
“My goal is to ensure that all anti-corruption agencies in West Africa collaborate through sustained training, joint operations, and data sharing to make the region a hostile environment for financial criminals. The EFCC is committed to this vision and maintains robust relations with both international and domestic law enforcement agencies,” he stated.
On his part, Mr Susumu Yuzurio, JICA’s Chief Representative in Nigeria, said his agency’s mission aligns with halting these illicit flows as part of broader human security and sustainable development objectives.
“Money laundering and other transnational financial crimes pose direct threats to national and regional security. We aim to build stronger institutions and contribute to global goals like the Sustainable Development Goals, SDGs, ensuring no one is left behind.”
He emphasized the critical role of professionals attending the training, including investigators, prosecutors, regulators, and judges, in defending the region’s financial systems.
“It is your vigilance, expertise, and integrity that form the first line of defence against these crimes,” he said.
Also speaking, Theos Badege, Director Pro Tempore of Interpol’s Financial Crime and Anti-Corruption Centre, IFCACC, said the training would equip regional personnel with tools to trace illicit flows, map criminal networks, and understand new crime patterns.
“Knowledge alone is not enough. We need your commitment, and that of your leaders, to prioritize continuous cross-border collaboration and sustained enforcement action.”
The workshop drew participants from anti-corruption agencies in Ghana, Rwanda, Cape Verde, Sierra Leone, and Southern Africa, as part of a growing regional response to rising financial crime threats that continue to erode public finances, disincentivize investment, and facilitate organized crime.
By Modupe Gbadeyanka
A hotline number, 0800 123 5264, for Nigerians to report any MRS Oil Nigeria Plc filling stations selling Premium Motor Spirit (PMS), commonly known as petrol, above the approved pump price of N739 per litre, has been released by Dangote Petroleum Refinery.
The private refiner said the number was now active nationwide, enabling consumers to promptly report violations and help maintain fair pricing across over 2,000 MRS stations.
This measure follows the refinery’s recent commencement of nationwide PMS sales at N739 per litre—a strategic intervention aimed at stabilising fuel prices and easing the financial burden on Nigerians during the festive season.
“We encourage Nigerians to avoid purchasing PMS at inflated prices when locally refined fuel is available at N739 per litre.
“Report any MRS station selling above this price by calling our hotline. Together, we can ensure that the benefits of this price reduction reach every consumer,” the company stated in a statement.
The organisation stressed its mission to deliver affordable, high-quality fuel while safeguarding national economic interests, reaffirming its commitment to steady supply, backed by a guaranteed daily output of 50 million litres, and warned against attempts to create artificial scarcity or manipulate supply.
Regulatory authorities have been urged to remain vigilant and take decisive action against unpatriotic practices.
By refining locally at scale, Dangote Refinery is reducing Nigeria’s dependence on imports, conserving foreign exchange, stabilising the Naira, and strengthening energy security. This initiative represents a significant milestone in the country’s journey toward sustainable energy solutions and economic recovery.
The refinery also issued a stern warning against attempts by unscrupulous operators to create artificial scarcity in response to the price reduction, calling on government agencies to act decisively.
“Any attempt to create artificial scarcity or manipulate supply to frustrate recent price reductions is unpatriotic and unacceptable. We urge regulatory authorities to remain vigilant and take firm action against such practices, especially during this critical festive period,” the statement added.
Consumers were advised to resist purchasing fuel at inflated prices when cheaper, high-quality alternatives are readily available.
By Bon Peters
The Airport Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA) at Omagwa Rivers State has praised the Customs Area Controller for Customs Area 1 Command, Comptroller Salamatu Atuluku.
At the end-of-the-year party attended by stakeholders, including the leader of the association’s chapter, Mr Charles Onyema, said the customs officer has done well in stakeholder engagement and trade facilitation.
At the event held last Friday, he said his association has been enjoying a very cordial relationship with other organisation in the ecosystem.
“You can see what is happening today, everybody is working together and our operations here are seamless,” he noted.
He stated that apart from creating a very robust business environment for his members and other stakeholders to operate, he has taken a decision to build and commission a befitting ANLCA Secretariat which would be completed soon and be commissioned by the ANLCA national president, Mr Emenike Nwokeoji.
The ANLCA chapter chief said since “Comptroller Salamatu Atuluku assumed office at Customs Area 1, Port Harcourt Command, it has been a different ball game, facilitating trade and increasing Revenue generation.”
“I remember I told her she was a mother during her maiden visit to the airport.
“You know when you have a woman in charge of an affair, food will not lack, compassion will not lack and motherly love will not lack.
“She is very wonderful in stakeholder engagement, revenue generation and trade facilitation,” Mr Onyema enthused.
Projecting into the future, Mr. Onyema said the year 2026 would be better for his members, adding that he has advised them on financial discipline which he said would help them during the trying period.
By Adedapo Adesanya
The federal government has declared Thursday, December 25, and Friday, December 26, 2025, as public holidays to mark Christmas and Boxing Day respectively.
The government also declared Thursday, January 1, 2026, for the New Year celebration.
The declaration was contained in a statement issued on Monday by the Permanent Secretary of the Ministry of Interior, Mrs Magdalene Ajani, on behalf of the Minister of Interior, Mr Olubunmi Tunji-Ojo.
According to the statement, the Minister urged Nigerians to reflect on the values of love, peace, humility and sacrifice associated with the birth of Jesus Christ.
Mr Tunji-Ojo also called on citizens, irrespective of faith or ethnicity, to use the festive season to pray for peace, improved security and national progress.
He further advised Nigerians to remain law-abiding and security-conscious during the celebrations, while wishing them a Merry Christmas and a prosperous New Year.
Business Post reports that on these public holidays – the foreign exchange market, the Nigerian Exchange (NGX), as well as the NASD Over-the-Counter (OTC) Securities Exchange will not open to trade.
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