General
Police Parade First Bank Staff Involved in Foiled Abuja Robbery
By Modupe Gbadeyanka
A member of staff of First Bank Nigeria, Mr Larry Ehizo, has been paraded by police over his alleged involvement in the botched robbery at the Mpape, Abuja branch of the financial institution last Saturday.
Until the incident, which was foiled by the combined efforts of security agents comprising the police, military and the secret police fondly called the DSS, Mr Ehizo worked at the bank as a Customer Service Officer.
Speaking when he was paraded by the Federal Capital Territory (FCT) Police Command, Mr Ehizo claimed one of the masterminds of the robbery, one Ernest, who is at large, had threatened to kill him, his girlfriend and his family if he did not help them rob the bank.
According to the 30-year-old 2014 graduate of Political Science from the University of Abuja, he drove the five robbers into the bank premises in his vehicle under duress.
“I met a friend (Ernest) in November and we had a discussion where we used to hang out. We almost had a serious argument after he complained about our services at First Bank. I tried to calm him down, but he was very furious, threatening not to bank with us again.
“He, thereafter, said he was going to hurt someone, but I told him not to do that, saying the worst he could do was not to do business with our bank again and possibly rob the bank. I never knew he took the second suggestion seriously. He used that to threaten me that I must allow his guys easy access into the banking hall for robbery.
“He went as far as threatening my family, myself and even the people around me, including my girlfriend. I was afraid to report this matter to the police because he warned me not to try such, threatening to kill me and others with the help of his friends, who he said were cultists.
“During the planning, he said he was going to give his friends N7 million and then promised to give me 20 percent of whatever we make from the deal, but I told him I wanted nothing from him. He insisted that I must collect it.
“I am a Customer Service Officer. I have been with the bank for over two years. If I had gone to the police, I would not have been here talking now. Members of my family also would not be. He knows my family house and knows where I stay personally at Mpape.
“When he brought his friends to me, I still begged him, but he insisted on robbing the bank. On the day of the attack, he said I should put them in my car for easy access into the bank. He even followed me to the premises. He waited to see when we entered inside and he immediately called me and I did everything out of fear of not dying and not having anyone dying because of me.
“Ernest is a customer at the bank. He comes around. There is a place I go to hang out in Mpape. He is a barman there. He sells drinks,” Mr Ehizo narrated.
One of the robbery suspects, Mr Princewill Obinna, said they did not expect to encounter any difficulty as they were assured by Ernest and Ehizo that the operation was going to be smooth.
“I was among those people that robbed the bank. It happened that Mr Larry invited us. Mr Ernest met us and told us there was a job we wanted us to do, but that he would connect us to the person with the operation.
“I asked him who the person was and called and introduced us to Mr Larry, who told us that there was an event that he wanted us to carry out because Ernest had been troubling him about it.
“He said he and Ernest have the background and survey of the job and that they would guide us on how to go about it, promising that it would be without stress and be completed within some minutes.
“I asked what the deal was about and he said it was a bank. I was shocked and said I have never done such job before. He said we should not worry that there was a tinted vehicle that would take us in without people noticing us. He asked if I knew some persons that could help us and I introduced them to other members of the gang.
“They also never wanted to do it, but we all agreed at the end of the day. That was how we came to find ourselves there.
“The message came to me on Tuesday that the operation was on Saturday. They promised to give us N7 million to share. I coordinated the other boys.
“The ammunition we took there was a local pistol that our late friend (robber who was shot) brought. He said he would be the one to stand at the gate and that I should hold this one and threaten the Mobile policeman,” he said.
By Modupe Gbadeyanka
The Economic and Financial Crimes Commission (EFCC) has explained why it initiated a move to freeze the bank account of the Osun State government.
Earlier on Wednesday, the Governor of Osun State, Mr Ademola Adeleke, claimed that the anti-money laundering agency asked one of its bankers, First Bank, not to release funds to the state government.
According to the Governor, this was part of the strategies to frustrate his administration ahead of the August 15, 2026, governorship election in the state.
Reacting to the issue on Wednesday night, the EFCC, in a statement, said it has been investigating the state government since March 2026 over an alleged “fraudulent handling of Ecology Funds, Intervention Funds and Federal Account Allocation Committee (FAAC) account to the tune of N11.0 billion.
The organisation noted that some officials of the state government, especially the Accountant General of the State, have had interview sessions with investigators of the EFCC.
“These ongoing investigations of the state government would not have warranted any placement of Post No Debit order on its account but for the precipitate and unwarranted movement of funds from the accounts to different suspicious accounts since August 2, 2026.
“The commission noticed huge transfers of funds into different corporate entities and had to swiftly halt the trend by freezing the accounts from which such heavy funds are being moved,” parts of the statement said.
In the disclosure, the agency noted that its preventive mandate is a public-inclined framework of safeguarding public funds, assets and resources, stressing that it cannot “watch idly while a state government’s account is being pillaged.”
“While the commission is fully aware of the impending governorship election in Osun State, it has a responsibility to act in defence of the sanctity of the funds of the state. It will be uncharitable for the commission to allow an excuse of an upcoming election to fold its arms to perform its legally-assigned functions,” it pointed out.
The EFCC disclosed that it is “keeping watch over the finances of other states like Osun State. Many of these states are on the investigative radar of the commission to ensure accountability and probity. The commission has always pointed out that it is non-partisan and non-sectarian but always working in the overall interests of Nigerians. The Osun State government account was frozen to save public funds from being looted.”
The organisation urged the public “to ignore false narratives and deliberate demonisation of the works of the EFCC. The interests of all Nigerians are greater and will always be protected by the commission.”
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has launched a mobile application designed to monitor fuel consumption patterns in real time across retail outlets nationwide.
The NMDPRA, established under the Petroleum Industry Act (PIA) 2021, is responsible for the technical and commercial regulation of Nigeria’s midstream and downstream petroleum operations. The deployment of the mobile application aligns with the authority’s broader efforts to leverage technology to improve regulatory compliance and strengthen accountability.
The pilot phase of the project began on August 1 in Abuja and its six Area Councils, the authority said in a statement published on X.
As part of the rollout, the Executive Director for Distribution Systems, Storage and Retailing Infrastructure (DSSRI), Mr Ogbugo Ukoha, led a team alongside officials from the Abuja Regional Office to assess the readiness and operational performance of the digital platform at participating retail outlets.
According to the NMDPRA, the application captures inventory and compliance data in real time, enabling regulators to monitor fuel distribution more effectively while improving operational efficiency across the sector.
The authority said the platform would generate reliable, data-driven insights to support evidence-based decision-making, strengthen national energy security planning and enhance transparency in the downstream petroleum industry.
It added that the initiative is expected to provide significant value to government, investors, operators and other stakeholders by improving access to accurate fuel consumption and compliance data.
Nigeria’s downstream petroleum sector has undergone significant changes since the deregulation of the petrol market and the removal of fuel subsidies, with regulators placing greater emphasis on data-driven supervision to ensure product availability, prevent supply disruptions and discourage sharp regional disparities in distribution.
By Modupe Gbadeyanka
No doubt, moving money among African markets remains a slow, fragmented process that relies on multiple intermediaries and prolonged settlement cycles.
To solve this issue and drive the development of stablecoin-enabled payment services for businesses across the continent, Onafriq has joined forces with a leading stablecoin infrastructure provider, Privy.
The collaboration will enable Onafriq to create and manage embedded digital asset solutions for its partners and, in time, institutional clients where regulation allows. The initial phase focuses on cross-chain stablecoin transfers and treasury and settlement workflows, creating the foundation for future cross-border payment and liquidity solutions.
Integrating Privy’s secure infrastructure enables Onafriq to build the capabilities required to support a new generation of efficient digital payment services for banks, fintechs, and mobile money operators.
This partnership is a key component of Onafriq’s broader strategy to modernise pan-African payment infrastructure, enabling secure multi-modal wallets and more efficient movement of value across the continent.
The outcome will support a range of future institutional use cases, including stablecoin-enabled settlement, treasury management and liquidity services, as it reflects Onafriq’s commitment to driving Africa’s digital transformation agenda by investing in technologies that make financial services more efficient, connected and accessible.
It was gathered that Onafriq selected Privy for its enterprise-grade infrastructure to enable the seamless integration of digital asset wallet capabilities into its products, subject to regulatory approval, and deliver a simple user experience while abstracting the complexity of blockchain technology.
“At Onafriq, we keep investing in technology that makes payments faster and more accessible. Privy gives us a building block for faster settlement and better liquidity management. As demand for digital asset services grows, our goal is to ensure Africa’s payment ecosystem benefits securely and in line with regulatory frameworks,” the Group Chief Product and Innovation Officer at Onafriq,” Mr Luke Kyohere, said.
The chief executive of Privy, Mr Henri Stern, said, “Stablecoins will play an increasingly important role in the future of global payments, but real-world adoption depends on infrastructure that is secure, scalable and simple to implement. Working with Onafriq allows us to help build that foundation across Africa and beyond.”
