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EFCC Issues 2 Weeks Ultimatum To Bank Debtors … Nabs Church Financier Over $96,000 Fraud
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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Land ownership disputes are civil matters, not police cases – FCID
The Force Criminal Investigation Department, FCID, Alagbon, Lagos, has restated that disputes over land ownership are civil matters that fall under the jurisdiction of the courts and should not be handled by the police.
Speaking with newsmen on Sunday, the FCID spokesperson, Assistant Superintendent of Police, Aminat Mayegun, said the role of the police in land-related cases is limited to addressing criminal infractions that may arise from such disputes.
Her clarification follows growing complaints from property owners and residents in Lagos who have raised concerns about alleged police interference in land disputes, despite long-standing directives that ownership disagreements are civil in nature.
Some residents have accused law enforcement operatives of actions that allegedly worsened tensions, encouraged intimidation and complicated the resolution of land ownership matters, which they insist should be determined strictly through legal proceedings.
Others claim such involvement sometimes tilts in favour of powerful interests, further eroding public confidence.
Mayegun explained that issues relating to land boundaries or ownership are governed by civil law and must be settled in court, stressing that the police lack the authority to determine who owns any parcel of land.
She noted, however, that police intervention becomes necessary when criminal acts are committed in the course of a land dispute.
“The police are duty-bound to intervene and investigate only when land-related disputes give rise to criminal offences, as they have no mandate to determine ownership of land,” she said.
According to her, offences such as obtaining money by false pretence, malicious damage to property, arson, assault or any other act recognised under the Criminal Code Act fall squarely within the responsibility of the police.
She warned that individuals who resort to fraud, violence or destruction of property under the pretext of asserting land rights would be thoroughly investigated and prosecuted.
The FCID spokesperson also cautioned members of the public against taking laws into their hands, urging aggrieved parties to seek redress through established legal channels.
She assured that the Nigeria Police Force would continue to carry out its duties strictly in line with the law and called on citizens to report cases of improper land-related interference through the Police Complaints Response Unit.
News
Govs Move To Prioritise Sugar For Industrial Growth
The Nigeria Governors’ Forum has unveiled plans to prioritise sugar as a key driver of industrial development across the country.
The initiative, in partnership with the National Sugar Development Council, aims to boost local production, create jobs, and reduce Nigeria’s reliance on imported sugar.
Disclosing this yesterday in a statement, the NGF said it has agreed to include sugar projects as priority beneficiaries in engagements with both local and international development partners.
The decision follows requests by the NSDC to accelerate the development of the sugar sector, with the dual goals of achieving self-sufficiency in sugar production and creating employment opportunities for Nigerians.
Speaking at a meeting with NGF officials, NSDC Executive Secretary/CEO, Kamar Bakrin, highlighted the vast investment potential in the sugar sector and encouraged governors of states with suitable lands to embrace sugar project development.
He identified 11 states with prime sugarcane cultivation potential: Oyo, Kwara, Niger, Nasarawa, Kaduna, Kano, Bauchi, Gombe, Jigawa, Adamawa, and Taraba.
“Recent macroeconomic shifts have made domestic sugar production more commercially viable.
“While global sugar prices remain relatively stable in dollar terms, exchange rate fluctuations have made imports significantly more expensive. With locally sourced inputs, Nigeria’s sugar industry now offers robust returns,” Bakrin explained.
He added that Nigeria has approximately 1.2 million hectares of land suitable for large-scale sugarcane cultivation, far exceeding the 200,000 hectares needed to achieve national self-sufficiency.
“Sugarcane projects will empower host communities, promote inclusive development, and support environmental sustainability,” he noted.
Bakrin also cited a model sugar project producing 100,000 metric tons annually, requiring an estimated $250 million investment, with an internal rate of return of 24 per cent. Beyond sugar, the projects generate valuable by-products such as ethanol and bio-electricity, further enhancing profitability and sustainability.
The Director-General of NGF, Abdulateef Shittu, welcomed the initiative, noting that several state governments are already exploring sugar-related investments spanning land development, agricultural schemes, and agro-industrial projects.
He emphasized that effective coordination, credible investment frameworks, and alignment with federal policy objectives are critical for scaling such opportunities.
“The NGF secretariat is committed to supporting state-level development priorities that leverage sugar projects for rural development and job creation,” Shittu stated.
News
Urban Nigerians enjoy 40% faster internet than rural users — NCC
Urban residents in Nigeria enjoy faster internet than rural users, a new report by the Nigerian Communications Commission, NCC, has revealed, even as nationwide connectivity shows modest improvements.
The report, which analysed 377,135 network tests using geospatial mapping, found that urban download speeds average 20.5 megabits per second, Mbps, compared to 11 Mbps in rural areas, a gap of about 40 percent. Upload speeds were also uneven, with urban users recording 10.5 Mbps against 6.1 Mbps in rural locations.
Although rural speeds have improved from 8.5 Mbps earlier this year, the NCC said higher latency in rural areas continues to affect real-time services such as voice and video calls.
NCC said: “Urban areas account for just 5.2 percent of Nigeria’s landmass but 96.7 percent of total network activity.
“Rural communities, which cover over 93 percent of the country, experience much sparser usage and slower speeds.”
The report also highlighted that the choice of network operator can sometimes matter more than location.
It stated: “MTN’s average rural download speed of 15.8 Mbps was found to outperform Glo’s average urban speed of 9.5 Mbps, showing uneven performance across operators.
“Major highways, especially the Lagos–Abuja corridor, were identified as ‘digital corridors’ where network coverage is stronger.
“Rural towns along these routes often enjoy better connectivity than remote interior villages, reflecting how road and network infrastructure grow together.”
On technology trends, the report noted that “4G LTE remains Nigeria’s broadband backbone, delivering speeds of 10–20 Mbps in rural areas, while 5G networks, where available, offer speeds of up to 220 Mbps but are still largely confined to dense urban centres.
“Among operators, MTN delivered the most consistent nationwide performance, followed by Airtel. T2 recorded the highest median rural speed at 24.9 Mbps in select regions, while Glo maintained baseline connectivity of 9.5 Mbps across both urban and rural areas.”
The NCC said closing the persistent urban-rural gap will require targeted rural infrastructure upgrades, improved upload capacity, and stronger quality-of-service standards to support digital education, e-government and remote work.
“Improving network quality outside cities is akey to ensuring all Nigerians benefit from digital services,” the regulator added.
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