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We’ve Recovered over N17b via Whistle Blower Policy—EFCC

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By Dipo Olowookere

Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ibrahim Magu, has disclosed that more than N17 billion has been recovered since the Federal Government introduced the whistle blower policy.

Mr Magu revealed this information on Saturday during the 2017 Association of National Accountants of Nigeria (ANAN) Week/Award Day at the FCT Archive Building, Abuja.

“Apart from several other recoveries running into several billions of naira, the recent whistle blower policy, has led to the recovery by EFCC of N521,815,000, $53,272,747, £122,890, and €547,730,” the EFCC boss said.

Business Post used the present CBN official rate for the exchange to arrive at the N17 billion estimation.

At the occasion, Mr Magu urged players in Nigeria’s financial sector to ensure that they play active role in the war against corruption, by reporting any suspicious transactions to the agency.

Mr Magu, himself a trained accountant, urged his fellow colleagues, not to allow themselves to be tools in the hands of looters and money launderers.

In a paper titled, ‘What Would It Take To Be a Corruption Free Nigeria,’ which was presented on his behalf by Dr A. Bello, he noted that it was unfortunate that the society has chosen to esteem “thieves and looters” of the commonwealth.

“The moral values of honesty, integrity and hard work, has been overtaken by greed and crass materialism,” Mr Magu said, noting that this was evident in the fact that the society “now recognizes thieves and looters of the common treasury, by rewarding them with chieftaincy titles and other high positions of authority”.

In order to free the country from the shackles of corruption, Mr Magu stressed the importance of the urgent need “to go through the process of reorientation and regeneration”, adding that “the process must start from our homes”.

He used the medium to remind the accountants of the obligation imposed on audit firms, tax consultants, accounting firms, among other designated non-financial institutions, DNFIs, to always report suspicious transactions to the EFCC.

“Without you fulfilling this obligation, DNFIs commit a crime, and this is necessary to enable us monitor and investigate such transactions, to uncover cases of corruption,” he said.

Mr Magu, who lauded the import of the federal government’s whistle blowing policy, revealed that the EFCC recorded 62 convictions in the first quarter of the year.

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 dipo.olowookere@businesspost.ng

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NNPC Won’t Succumb to Attacks from Saboteurs—Ojulari

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By Modupe Gbadeyanka

The chief executive of the Nigerian National Petroleum Company (NNPC) Limited, Mr Bashir Ojulari, alleged that some persons who do not mean well for the country have continued to launch attacks on the organisation in a bid to frustrate the gains recorded by the ongoing transformation efforts.

However, he assured that the management would not rest on its oars and continued to forge ahead because these reforms will benefit the nation in the long run.

“We are under attack. We will not budge to short-term pressure, as it will not be in the best interest of Nigerians. You cannot drive change without a price, and the transformation is tough,” Mr Ojulari said when he received a team from the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) at the NNPC Towers in Abuja on Thursday.

He thanked the leadership of the union for its support, charging it to stay calm and build resilience to stay focused during these trials. He emphasised that patience will be required from the Nigerian people at large to get to the other side of change, which will benefit Nigeria and her citizens.

“I am overwhelmed with the support from the union executives present here. The enemies of this company and Nigerians will not win,” he added, noting that since coming on board about five months ago, his team prioritised reviving the nation’s refineries in order to put them back into more sustainable and profitable venture by considering the Incorporated Joint Venture (IJV) model.

“Mr President doesn’t pressure me to do the wrong thing; that is why we are looking at the baseline to ensure whatever we are doing, the refineries work sustainably going forward. We don’t want to pretend and just do some quick fix because there is pressure on us,” Mr Ojulari stated.

Earlier in his address, the president of PENGASSAN, Mr Festus Osifo, said the oil workers union came to thank the NNPC management for its partnership during the recently held 2025 PENGASSAN Energy & Labour Summit (PEALS) in Abuja.

The union also acknowledged the “remarkable milestones” recorded so far under Mr Ojulari’s watch, stating, “Our pipelines are now working. Also, crude oil theft has significantly reduced, leading to increased production.

“As PENGASSAN, we assure you that we are solidly behind you. We will work with you and collaborate with your team to ensure the stability of the system for the benefit of all Nigerians.”

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Government to Help 150,000 Young Nigerians With N110bn

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By Adedapo Adesanya

The Federal Ministry of Youth Development has expressed its readiness to support 150,000 young Nigerians with N110 billion.

The Director-General of the National Orientation Agency (NOA), Mr Lanre Issa-Onilu, disclosed this on Thursday in Kano at the launch of the five nationwide enlightenment campaigns on government policies, national values and identities, security awareness and disaster preparedness.

He said over 600,000 students have so far benefited from the N59 million disbursed under the Nigeria Education Loan Fund (NELFUND) scheme.

The director general, who was represented by Mr Williams Dogo, Director, Legal Services of the agency, said that NELFUND was available to all qualified Nigerians in public tertiary institutions, noting that the sensitisation programme, with the theme Nationwide Sensitisation on Five Thematic Areas, was designed to deepen citizens’ knowledge of government initiatives.

The NOA boss explained that the campaign would highlight the presidential directive on flood mitigation, which provided for the release of N3 billion to each state in 2024 for drainage clearance and relocation of vulnerable communities.

He said that 700 schools had been renovated nationwide as an intervention to improve learning facilities in rural areas, stating that more than 15,000 new security personnel had been deployed nationwide to address diverse security challenges.

“It is our intention to carry out security awareness campaigns reaching no fewer than three million Nigerians in each state through media engagements, advocacy visits to traditional and religious leaders, rallies at markets and motor parks, as well as town hall meetings,” he said.

On national values, he said that reorientation campaign would focus on patriotism, unity and campaigns against extreme graduation practices that contradict cultural norms, adding that the campaign would also familiarise Nigerians with the current national anthem, which was changed by President Bola Tinubu.

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Immigration Raises 5-Year Passport Fee to N100,000, 10 Years to N200,000

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By Modupe Gbadeyanka

Nigerians will have to cough out more money to obtain their international passports because the Nigeria Immigration Service has increased the fees.

In a statement signed on Thursday by the Public Relations Officer of the agency, ACI AS Akinlabi, it was disclosed that the new fees would take effect from Monday, September 1, 2025.

It was disclosed that the 32-page passport with a validity of five years will now to for N100,000 and the 64-page 10-year passport is now N200,000.

The immigration explained that the upward review of the prices was “to uphold the quality and integrity of the Nigerian passport.”

“The review which only affect passport application fees made in Nigeria,” it stressed, adding that, “Nigerian passport application fees made by Nigerians in the Diaspora remain unchanged at $150 for 32-page with 5-year validity and $230 for 64-page with 10-year validity.”

“The service reiterates its commitment to balancing quality service delivery with the need to ensure Passport services are accessible to all Nigerians,” the statement concluded.

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