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EFCC Issues 2 Weeks Ultimatum To Bank Debtors … Nabs Church Financier Over $96,000 Fraud

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The Economic and Financial Crimes Commission, EFCC has given debtors of recently bailed out banks two weeks to pay up or face another round of action from the anti-graft agency. The latest ultimatum is coming following reports from the affected banks that most of the debtors had reneged on their promises to pay up within a stipulated period. According to the statement made available to The Tide through its spokesperson, Mr. Femi Babafemi. “It is worrisome that those that made part payments with a promise to paying up within a certain period as agreed with EFCC, have failed on their own terms. It is therefore necessary to remind them that the recent withdrawal of the EFCC operatives from the affected banks should not be misconstrued”, he said. Meanwhile, Chairman of the Commission (EFCC), Mrs. Farida Waziri, has said that the anti-graft agency will henceforth, focus its attention on Other Financial Institutions, OFIs, such as mortgage firms and discount houses in its efforts to rid the country of money laundering and terrorism financing. Other Financial Institutions, which the EFCC Chairman said have become potentially weak links in the war against money laundering in Nigeria, include: Discount Houses, Primary Mortgage Institutions and Micro Finance Banks. Mrs. Waziri who was represented by Emmanuel Akomaye, Secretary to the Commission, made the remark at the Anti-Money Laundering/Counter Terrorist Financing training/seminar, organized by the EFCC through the Nigerian Financial Intelligence Unit, NFIU, for other financial institutions, last Monday. “Focusing on the OFIs or strengthening AML/CFT measures within the OFIs Sector will help us weed out unscrupulous operators who have brought disrepute to other sector; enhance business transparency and promote legitimate private business growth; provide a fair and enabling environment for all OFIs operators; increase investors confidence thereby attracting more investment and facilitate the prevention and detection of money laundering and all associated predicate offences,” Waziri said. According to her, empirical evidence shows that criminals are gradually moving towards Other Financial Institutions to commit crimes because of the relatively weak AML/CFT regulations. The OFIs, she said have become a potential weak link in the war against money laundering in Nigeria . “The stigma of being the weak link does not bode well for the OFIs sub-sector, the professions within the sub-sector and indeed the overall implementation of Nigeria’s AML/CFT regime”, she added. Mrs. Waziri urged the participants to cooperate and partner with the NFIU by fulfilling their obligations under the relevant laws in order to confront effectively the menace of money laundering, terrorist financing and other related crimes in Nigeria. Norman Wokoma, Director, NFIU, listed the objectives as including, creating awareness on Anti-Money Laundering/Counter Terrorist Financing among operators of Discount Houses, Primary Mortgage Institutions, PMIs and Micro Finance Banks it is also aimed at enhancing operators’ responsiveness to their obligations under the Anti-Money laundering (Prohibition) Act, 2004 and guides the operators of Discount Houses, Primary Mortgage Institutions, Micro Finance Banks on filing cash transactions, foreign transactions and suspicious transactions reports. Meanwhile a former student of the Igbinedion University, Okada and Edo State, who is prominent financier of the Christ Embassy Church, Okoro Osagie Victor, alias Jerry Finger has been arrested by the Economic and Financial Crimes Commission, EFCC for allegedly defrauding foreigners to the tune of $96, 607 through the internet. The 23 -year old former Chemical Engineering student who dropped out of the university in 2004 due to what he called ‘family issues’, was picked up by operatives of the Commission in Benin city following a petition by a regional compliance officer with Money gram International, who suspected that the large number of foreign ladies, mostly Americans and Germans, who have been wiring money to the fraudster were victims of fraud. The suspicion was triggered by a communication with one of Victor’s victims who told money gram that she met the fraudster over the internet and that she has been sending him money because he claims that he wanted to set up a business. Investigations subsequently revealed that Victor is a serial marriage scammer. He has been fleecing his victims posing as Jerry Finger, a white British American expatriate working in Nigeria. Apart from sending photograph of a successful white male with the assumed Identity of a Jerry Finger to his victims and promising them marriage, he would also tell them that he was in Nigeria to execute a project and then demand for money from them, with a promise to refund them when he is paid for the project. Some fell for the gimmick and paid.

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Ibas Inaugurates RSIEC, Service Commissions, Healthcare Board In Rivers  …Charges Appointees To Embrace Principles Of Service 

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The Administrator of Rivers State, Vice Admiral (Rtd) Ibok-Ete Ibas, has charged newly appointed Board members to uphold the highest standards of discipline, competence, integrity, and unwavering dedication in their service to the State.

 

He emphasized that such commitment is critical to stabilizing governance, restoring democratic institutions, and advancing the principles of good governance in the State.

 

 

 

This was contained in a statement by the Administrator’s Senior Special Adviser on Media, Hector Igbikiowubo on Monday.

 

 

 

Ibas issued the charge on Monday while inaugurating the reconstituted Rivers State Independent Electoral Commission (RSIEC), Rivers State Civil Service Commission, Rivers State Local Government Service Commission, and the Rivers State Primary Health Care Management Board at Government House, Port Harcourt.

 

 

 

The Administrator urged the new appointees to embrace their roles with diligence, patriotism, and a commitment to transforming Rivers State through excellent service.

 

 

 

Addressing the Chairman and members of RSIEC, Ibas underscored their pivotal role in ensuring credible local government elections that reflect the will of the people.

 

 

 

“Your task is clear but demanding: to conduct free, fair, transparent, and credible elections at the grassroots level. You must resist bias, favoritism, and external interference while restoring public confidence in the electoral process,” he stated.

 

 

 

“The independence of your actions is crucial to sustaining peace, stability, and grassroots governance. I urge you to act with fairness, impartiality, and professionalism—even in the face of difficult choices,” Ibas added.

 

 

 

The Sole Administrator also charged the Rivers State Civil Service Commission on the need to eliminate mediocrity and foster a culture of excellence through merit-based recruitment, training, and promotions.

 

 

 

“The civil service must transition from favoritism to competence, integrity, and accountability. Your commission will lead reforms, including digital transformation and standardized practices across ministries, departments, and agencies,” he said.

 

 

 

He disclosed that extensive training programmes are underway, with a committee set up to overhaul the public service framework for greater efficiency.

 

 

 

Meanwhile, Ibas urged the Rivers State Local Government Service Commission to ensure professionalism and discipline in local government administration.

 

 

 

“As the closest tier of government to the people, you must drive reforms that insulate the system from politics and mediocrity. Your mandate includes merit-based recruitment, training, and enforcing standards for effective service delivery,” he stated.

 

 

 

In the same vein, the Administrator charged the Rivers State Primary Health Care Management Board with revitalizing healthcare delivery across the state’s 23 local government areas.

 

 

 

“Primary healthcare is the foundation of a sustainable health system. Your board must ensure facilities are adequately staffed, equipped, and operational focusing on maternal health, immunization, malaria control, and community health services,” he said.

 

 

 

He emphasized data-driven operations, incentives for rural health workers, and restoring the referral system to improve healthcare access.

 

 

 

He also assured the Board of sustained government support, including funding, for the effective discharge of their mandates but warned that board members would be held accountable for their performance.

 

 

 

The newly inaugurated members include: RSIEC: Dr. Michael Ekpai Odey (Chairman) with Prof. Arthur Nwafor, Prof. Joyce Akaninwor, and others as members.

 

 

 

Civil Service Commission: Dr. Livinus Bariki (Chairman), Amb. Lot Egopija, Mrs. Maeve Bestman, and others.

 

 

 

Local Govt. Service Commission: Mr. Isreal Amadi (Chairman), Rear Adm. Emmanuel Ofik (Rtd), Dr. Tonye Pepple, and others.

 

 

 

Primary Health Care Board: Dr. Dawari George (Chairman), Dr. Chituru Adiele (Executive Director), Prof. Kaladada Korubo, and representatives from key ministries.

 

 

 

 

 

 

 

 

 

 

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Rivers PDP Debunks Sale Of LGA Election Forms

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The Publicity Secretary of the Peoples Democratic Party (PDP) in Rivers State, Dr. Kenneth Yowika, has debunked claims that the party has commenced sale of forms for chairmanship and councillorship elections across the 23 local government areas of the state.

 

Yowika made the rebuttal in a statement made available to newsmen on Wednesday, describing the publication on the social media as baseless and untrue.

 

He urged members of the PDP to disregard the claim, saying that official communication regarding the sale of forms would be disclosed through the appropriate channels.

 

“With reference to information trending on social media, it has been falsely claimed that the sale of forms for Chairmanship and Councillorship elections in the 23 Local Government Areas (LGAs) of Rivers State will begin soon.

 

“However, the party has firmly denied these rumours, stating that they are baseless and untrue.

 

“The party has its own established methods of reaching out to its numerous supporters.

 

“The People’s Democratic Party, a law-abiding organisation, will patiently await the release of guidelines from the recently inaugurated Rivers State Independent Electoral Commission (RSIEC) before considering any sale of election forms.

 

“The PDP is urging its members to remain calm as official communication regarding the sale of forms will be disclosed through appropriate channels,” the statement read.

 

Enoch Epelle

 

 

 

 

 

 

 

 

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South-South contributes N34trn to Nigeria’s economy in 2024 – Institute

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Prof. Pius Olanrewaju, President of the Chartered Institute of Bankers of Nigeria (CIBN), has stated that the South-South region contributes N34 trillion to country’s economy in 2024.

He made the remark at the South-South Zonal Banking and Finance Conference in Calabar, yesterday.

He spoke on the theme, ‘’Building An Inclusive South-South: Economic Diversification as a Catalyst For Development.’’

Olanrewaju, who quoted the data from the Cable Data Index, said the feat was more than 21 per cent of Nigeria’s real Gross Domestic Product (GDP).

The president described the growth as ‘’ impressive,’’ saying that it was not driven by oil alone but significant expansions in trade, services, and the creative industries.

According to him, to fully harness this potential, coordinated financial, technological, and policy support is essential.

“As we work to reposition the South-South for broad-based prosperity, the financial system must play a central role, not merely as a source of capital, but as a catalyst for innovation, ideas incubation, and inclusive economic growth.

“This conference, therefore, provides a strategic opportunity for stakeholders to reimagine the South-South economy, not merely as a resource belt, but as a region of diverse capabilities and resilient enterprises.”

Olanrewaju added that Nigeria must move beyond old models and chart a new course for the development of the South-South region, where financial institutions and stakeholder collaborate to diversify the economy for shared prosperity.

He,  however, commended Gov. Bassey Otu for his pledge of land for CIBN Secretariat in Cross River and being the first sitting governor to willingly undergo and complete the Chartered Bankers Programme.

On his part, Gov. Otu said that the conference discussion on the economic diversification in South-South region was timely against the backdrop of global trade and economic volatility that was affecting the nation’s economy.

Represented by his deputy, Mr Peter Odey, Otu said the South-South region must now act with urgency to diversify its economy while leveraging its shared natural endowment in agriculture and extractive resources.

“This conference must help develop tailored financial solutions that reflect the unique strengths and realities of states like Cross River in the south-south.

“Diversification should be evidence-based and must be backed not just by financial advice but project focused financing and real investment support,” he noted.

He said that Cross River had taken the bold step to invest in its agricultural sector by launching an Agro processing hub.

Otu further said that the state had invested in aviation by acquiring more aircrafts for Cally Air, construction of the Bakassi Deep Seaport and injecting N18 billion in its tourism sector.

Similarly, Mr Tolefe Jibunoh, Cross River Branch Controller of the Central Bank of Nigeria (CBN) said that the region was blessed with natural resources, cultural diversities and immense human potentials.

Jibunoh, who was represented by Mr Segun Shittu, Head, Currency Control Office, CBN, Calabar, noted that strategic diversification could unlock unprecedented opportunities for growth in the region.

He added that the CBN remained steadfast to maintain monetary possibilities and promote a sound financial system as a catalyst for sustainable economic development for the benefit of all.

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