Buhari Seeks Senate Confirmation of Bawa as EFCC Chairman

Image

By Dipo Olowookere

A letter has been forwarded to the Senate by President Muhammadu Buhari for the confirmation of Mr Abdulrasheed Bawa as the substantive Chairman of the Economic and Financial Crimes Commission (EFCC).

A statement issued on Tuesday by the Special Adviser to the President on Media and Publicity, Mr Femi Adesina, said Mr Bawa is armed with a B.Sc degree in Economics and Masters in International Affairs and Diplomacy.

The presidency also said the 40-year-old Mr Bawa was one of the pioneer EFCC Cadet Officers in 2005 and has undergone several specialised trainings in different parts of the world.

It was further disclosed that the nominee is a trained EFCC investigator with vast experience in the investigation and prosecution of Advance Fee Fraud cases, official corruption, bank fraud, money laundering, and other economic crimes.

“President Muhammadu Buhari has asked the Senate to confirm Mr Abdulrasheed Bawa as substantive Chairman of the Economic and Financial Crimes Commission (EFCC),” Mr Adesina said.

He disclosed that this development was “in accordance with Paragraph 2(3) of Part1, CAP E1 of EFCC Act 2004.”

The position became vacant after Mr Buhari suspended Mr Ibrahim Magu on July 7, 2020. He assumed the office on November 9, 2015, just about five months after the President was sworn-in to lead the country.

Mr Buhari later nominated Mr Magu as the substantive Chairman of the commission, but it was rejected more than once because of a report from the State Security Service (SSS) indicting him.

He was later removed after a panel was instituted by the federal government to look into some allegations against him and was then replaced by Mr Muhammed Umar in an acting capacity.

Share
Related Stories
Image
13-January-2024

Tinubu Gives Ali Nuhu, Shaibu Husseini, Obi Asika, Others Appointments

By Modupe Gbadeyanka President Bola Tinubu has appointed 11 new chief executives for agencies under the Federal Ministry of Art, Culture, and Creative Economy. The Special Adviser to the President for Media and Publicity, Mr Ajuri Ngelale, in a statement issued on Friday, said Mr Tinubu has mandated “the appointees to discharge their duties in accordance with the highest standards of professionalism, diligence, and patriotism with a view to making the creative sector more vibrant and robust. Business Post reports that a renowned journalist and art enthusiast, Mr Shaibu Husseini, has been appointed as the Director-General of the National Films

Image
01-March-2024

Nigeria Wants Share in $350bn Global Outsourcing Market

By Aduragbemi Omiyale The global outsourcing market is estimated to be worth about $350 billion and Nigeria is looking to take a slice of it to address the rising unemployment rate in the country. Before 2023, the National Bureau of Statistics (NBS) put the unemployment rate at about 33 per cent, but in its revised edition, the agency said the rate grew to 5.0 per cent in the third quarter of last year. The outsourcing market is becoming the new oil market and Nigeria, which prides itself as the largest economy in Africa because of its population size of over

Image
18-January-2024

Stanbic IBTC Fortifies Governance Structures for Value Delivery

By Aduragbemi Omiyale As part of its determination to enhance oversight and continually deliver value to stakeholders, Stanbic IBTC Holdings Plc has announced some appointments for its subsidiaries aimed at fortifying governance structures. According to the leading end-to-end financial services provider, the newly appointed board members are distinguished professionals with an impressive wealth of experiences spanning various facets of the financial industry, including banking, asset management, stockbroking, and fintech. The firm said the move, marked by the receipt of requisite regulatory approvals, reflected its commitment to maintaining robust oversight and delivering top-notch financial services to its clientele. A statement from

Image
05-February-2024

Oyinsan Takes Over as Pan-Atlantic University Alumni President

By Modupe Gbadeyanka A renowned broadcaster and media personality, Mr Gbemileke Oscar Oyinsan, has become the new president of the Pan-Atlantic University Alumni Association (PAUAA). Mr Oyinsan assured he and his team would promote the aims and objectives of the university and forge stronger links among the alumni and administrators of the foremost citadel of knowledge. “The focus of these new executives under my leadership is to ensure that the alumni stay connected and engaged through strategic execution of events and programmes that bring value,” he stated. The show host reiterated that the PAU over the years has earned a

More Stories
Image
10-September-2020

Brent to Hit $50 in Second Quarter 2021

By Adedapo Adesanya Latest projections show that the international benchmark crude, Brent crude, will climb to $50 per barrel by the second half of 2021 supported by a weaker dollar and higher inflation. This was disclosed by an American multinational investment bank, Morgan Stanley, in its outlook report released on Wednesday. “Unprecedented expansion of monetary aggregates has weakened the U.S. dollar and put upward pressure on inflation expectations,” the bank said. Morgan Stanley also raised its price forecast for the US benchmark future, West Texas Intermediate to $47.5 per barrel for the third quarter of 2021. The bank also said

Image
12-October-2018

About FBN Nigeria Eurobond (USD) Fund

By FBNQuest The Nigerian investment market is rich and viable, with the money market yields relatively high and quite attractive compared to global interest rates. There has never been a better time for Nigerians, as well as foreign investors, to tap into the strength of the Nigerian investment story. The bonds market is on a strong growth course, equities have a strong long-term potential, and investment options are attractive for offshore investors. If you are looking for new ways to invest your US Dollars (USD) in the ever-changing economic environment, the FBN Nigeria Eurobond (USD) Fund is a credible option.

Image
18-July-2022

Can You Replace Regular Candies With CBD Gummies?

CBD gummies are a type of candy that contains CBD oil. CBD is a compound found in cannabis plants that have been shown to provide various health benefits. Unlike THC, the other main compound in cannabis, CBD does not produce any psychoactive effects. It implies that it does not make you feel high or intoxicated. CBD gummies are usually made from CBD isolate, which means they contain no other cannabinoids from the cannabis plant. If you want to give CBD gummies a try, purchase them from cbdMD at CBD.co. How Do CBD Gummies Work? CBD gummies are a popular type

Image
07-September-2020

Hike in Prices of Petrol, Electricity Will Benefit Nigerians—Buhari

By Modupe Gbadeyanka Nigerians have been urged to see the increase in the prices of electricity and premium motor spirit (PMS) commonly known as petrol as a blessing in disguise. Speaking on Monday at the first year ministerial performance review retreat at the State House Conference Centre, Abuja, President Muhammadu Buhari said the new hike in electricity tariff will make Nigerians enjoy better service. According to him, “the implementation of a willing buyer, willing seller policy for the power sector has opened opportunities for increased delivery of electricity.” He assured Nigerians of the willingness and determination of the federal government

Image
12-January-2022

UniAbuja Student Wins N1.5m in Boomplay Campus Music Star Season 1

By Modupe Gbadeyanka A 200 level student of the University of Abuja (UniAbuja), Ms Emmanuella Adejoh, has emerged as the winner of the Boomplay Campus Music Star season one. The Guidance and Counselling budding singer won the grand prize of the competition, N1.5 million, due to her outstanding performance, according to the judges. She defeated the other contestants, especially those that made it into the top three, to clinch the coveted prize. The first-runner up was Iroenyenwa Nzubechukwu, a student of the Federal Polytechnic Nekede Owerri, studying Mass Communications; and the second runner-up, Godswill Sarah Iruoma, a student of Yaba

Image
05-December-2023

Oil Falls as Market Doubts Further OPEC+ Cuts

By Adedapo Adesanya Oil fell on Monday as traders approached the market with caution over plans by the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) to cut production in the first quarter of 2024. Brent crude futures lost 85 cents or 1.08 per cent to finish at $78.03 a barrel while the US West Texas Intermediate (WTI) crude futures depreciated by $1.03 or 1.39 per cent to sell at $73.04 per barrel. OPEC+ announced voluntary production cuts at its meeting last week and this has raised doubts about whether or not producers would fully implement them. Investors

Image
25-June-2022

19.2% Ease in FX Trades Bolsters Naira by 0.01% at I&E

By Adedapo Adesanya A 19.2 per cent moderation in the value of foreign exchange (forex) transactions recorded at the Investors and Exporters (I&E) window of the FX market helped the Naira with extra weight to push down the value of the Dollar by 0.01 per cent or 5 kobo on Friday, June 24. According to data obtained by Business Post from the FMDQ Securities Exchange, the exchange rate of the Naira to the Dollar at the market window was N420.12/$1 in contrast to N420.17/$1 it closed on Thursday. The value of FX trades at the window was $162.98 million, $38.83 million

Image
11-November-2020

Cars45 Unveils New Products to Make Car Acquisition, Maintenance Easier

By Dipo Olowookere A leading tech-enabled automotive trading platform in Nigeria, Cars45, has announced some products offerings aimed to meet the growing needs of its consumers. According to the firm, which uses its platform to enable the buying and selling of vehicles, making the car ownership dreams of lots of people come true will remain its major imperative. To achieve this, the company has partnered with some banks and fintechs to provide vehicle financing services to both consumers and car dealers. Also, Cars45 has unveiled that it called GoMechanic45, an aftermarket service aimed at providing quality and affordable car repair

Ad
Ad
Recent Stories
Image
04-March-2024

UK Announces £37.3m to Boost Livelihoods in Nigeria, Others

By Adedapo Adesanya The United Kingdom has announced new funding for the Mobile for Development Programme to help more people access mobile and digital technologies to find new opportunities and boost their livelihoods in Nigeria and other developing countries. UK’s Minister for Development and Africa, Mr Andrew Mitchell MP, during a speech at Mobile World Congress last week, announced that the UK is providing £37.3 million of new support for the Mobile for Development Programme. The new UK funding for innovative mobile phone technology will help change lives in developing countries around the world by harnessing AI technology to provide

Image
04-March-2024

Newly-Listed Transcorp Power Targets N500bn Revenue by 2031

By Adedapo Adesanya The latest company to join the Nigerian Exchange (NGX) Limited, Transcorp Power Plc, has announced a revenue target of N500 billion by 2031, tapping opportunities in the capital market and sustainable energy. This was disclosed by the Managing Director of the firm, Mr Peter Ikenga, during the Facts Behind the Listing held at bourse on Monday. The firm, owned by businessman and Chairman of UBA Plc, Mr Tony Elumelu, listed its stocks on the Main Board of the nation’s flagship exchange by introduction. It listed 7,500,000,000 ordinary shares of 50 Kobo each at N240.00 per share. Speaking

Image
04-March-2024

DisCos Must Promptly Respond to Customers’ Complaints—FCCPC

By Aduragbemi Omiyale Electricity distribution companies (DisCos) in the country have been charged to respond to customers’ complaints quickly for better service delivery. This task was given to the energy firms by the Federal Competition and Consumer Protection Commission (FCCPC), which said the companies must design a quick response mechanism to address issues from their customers. Speaking last Saturday at a four-day one-stop-shop for addressing billing, metering, transformer, connection, disconnection, customer service and other electricity consumer issues in Ikeja Electric coverage areas, the acting executive chairman of FCCPC, Mr Adamu Abdullahi, said the highest number of complaints received by the

Image
04-March-2024

Omokungbe Wants Implementation of Initiatives on Women’s Entrepreneurship

By Aduragbemi Omiyale A former Rector of Yaba College of Technology (YabaTech), Lagos, Mr Obafemi Omokungbe, has called for the implementation of programmes and initiatives designed to promote women’s entrepreneurship in Africa. Speaking at the just-concluded 10th anniversary of the African Women Foundation for Nation Building (WINBAFRICA) in Lagos, Mr Omokungbe, a fellow of the Nigerian Society of Engineers (NSE), also appealed to African countries to renew their commitment to women’s empowerment, saying it is a crucial step towards nation-building. According to him, the journey toward women’s empowerment in Africa involves a comprehensive approach that spans various sectors, including education,

Image
04-March-2024

NGX Group Declares 75 Kobo Final Dividend Amid 57.4% Surge in FY’23 Earnings

By Aduragbemi Omiyale A final dividend of N1.5 billion, amounting to 75 Kobo per share has been declared by the board of the Nigerian Exchange (NGX) Group Plc for the 2023 financial year. This brings to N1 the total dividend to be paid by the company after paying 25 Kobo (N495.5 million) as interim dividend at mid-year. In its audited financial statements for the year ended December 31, 2023, the NGX Group said its gross earnings increased by 57.4 per cent to N11.8 billion in FY 2023 from N7.5 billion in FY 2022 because its performances in core revenue and

Image
04-March-2024

Red Line Rail: Labour Party Demands Value for Money

By Aduragbemi Omiyale The Lagos State chapter of the Labour Party has tasked Governor Babajide Sanwo-Olu to ensure the recently commissioned Red Line Rail does not turn out to be another failure due to poor maintenance culture. In a statement by its Publicity Secretary, Mrs Olubunmi Odesanya, the opposition party appealed to the state government to ensure its sustainability. While greeting residents of the metropolis on the project, which was commissioned last Tuesday by President Bola Tinubu, the Labour Party faulted the timing of its completion, saying the ruling All Progressives Congress (APC) ought to have put the initiative in

Image
04-March-2024

Access Bank to Give 700,000 MSMEs Access to N50bn Via YouThrive

By Modupe Gbadeyanka An initiative known as YouThrive designed to give entrepreneurs in the micro, small and medium enterprises (MSMEs) access to a N50 billion credit facility has been introduced by Access Bank Plc. The lender disclosed at a media briefing in Lagos that about 700,000 MSMEs would benefit from this programme, which is open to business owners between the ages of 21 and 40 years. YouThrive is a transformative initiative designed by Access Bank to empower, uplift, and accelerate the next generation of MSMEs. According to the Deputy Managing Director of Access Bank, Mr Victor Etuokwu, who addressed journalists

Image
04-March-2024

Peter Obi Laments Nigeria’s Dependence on War-Torn Ukraine for Food

By Adedapo Adesanya The presidential candidate of the Labour Party in the 2023 polls, Mr Peter Obi, has lamented Nigeria’s dependence on Ukraine, a country ravaged by war, for food aid. Mr Obi, in a statement on Monday, expressed dissatisfaction at the current economic realities and recounted times when the Nigerian economy was faring better than that of Ukraine in 2015. “Ukraine cultivates over 60 per cent of its arable land, whereas Nigeria has over 60 per cent uncultivated arable land. “Despite the conflict, Ukraine feeds itself, and exports agricultural products worth over $25 billion which is about the same

Image
04-March-2024

AfDb Injects $134m Into Rice, Maize, Cassava, Soybean Production in Nigeria

By Adedapo Adesanya The African Development Bank (AfDB) is supporting Nigeria in the cultivation of rice, maize, cassava and soybean to boost food production with the provision of $134 million to achieve this. The president of the multilateral lender, Mr Akinwunmi Adesina, said on Saturday after visiting the Centre for Dryland Agriculture (CDA) at Bayero University, Kano, that the bank would support Nigeria to cultivate 300,000 hectares each of rice and maize, 150,000 hectares of cassava and 50,000 hectares of soybeans during the 2024 planting season. The CDA is a World Bank-supported centre established to serve as a regional training

Image
04-March-2024

Salesforce Unveils Conversational AI Assistant Einstein Copilot

By Modupe Gbadeyanka A new customisable, conversational, and generative AI assistant for CRM, Einstein Copilot, has been launched by Salesforce. The system was unveiled at the Mobile World Congress in Barcelona, Spain, and it will use adequate company data to generate useful responses. The Einstein Copilot enables Salesforce customers to generate responses using their private and trusted data, while maintaining strict data governance and without requiring expensive AI model training. As a result, Einstein Copilot can answer questions, summarise content, create new content, interpret complex conversations, and dynamically automate tasks on behalf of a user, all from a single, consistent