President Bola Tinubu has charged the newly inaugurated chairman and commissioners of the Federal Character Commission (FCC) to uphold equity, diligence and patriotism in national appointments.

The president gave the charge after administering the oath of office on the FCC leadership at the State House, Abuja.

Tinubu described the commission as central to Nigeria’s unity and stability, urging its leadership to reflect the country’s diversity and complexity in all actions.

He stressed that the FCC’s core mandate is to promote equity in public service appointments and ensure that every section of the country feels a sense of belonging.

“What you represent here today is the conscience of our nation.

” What you are being assigned to do is to promote and stabilise the conscience of this country,” the president said.

He urged the commissioners to be fair, diligent, committed and patriotic in carrying out their responsibilities to the nation.

Tinubu affirmed that Nigeria has the human resources, capacity and divine endowment needed to build a strong and prosperous nation.

He challenged the commissioners to see their appointment as a call to service rather than personal privilege.

“We have the human resources, the ability, the capacity and the endowment from God to build our country,” he said.

The president urged them to constantly reflect on their individual contributions to national development, unity and stability.

Borrowing from former U.S. President John F. Kennedy, Tinubu urged the commissioners to focus on what they can do for Nigeria.

He said: “What can you do for this country to make it greater now that you have been inaugurated?”

Tinubu said the success of the FCC in promoting inclusiveness and fairness rests squarely on the conduct of its leadership.

Speaking on behalf of the commission, its chairman, Hon. Ayo Omidiran, assured Nigerians that equity and inclusiveness would guide the FCC’s operations.

She expressed confidence that by the end of the current administration, every Nigerian would feel a sense of ownership of the country.

According to Omidiran, Nigeria is endowed with abundant resources and opportunities that must be equitably distributed across all regions.

“The Federal Character Commission was formed by patriotic Nigerians who believed that every good thing must go round the entire federation,” she said.

She pledged that the commission would leverage on Nigeria’s diversity as a source of strength while promoting balanced representation in public institutions.

The FCC chairman gave an assurance that the commission would operate under the guidance of the president to strengthen national unity and public confidence.

“At the end of this tenure, every Nigerian will own Nigeria,” Omidiran said.

She expressed optimism that the commission would fulfill its mandate through commitment and dedication.

The Economic and Financial Crimes Commission (EFCC) has indicted a new generation bank, six Fintechs and some microfinance banks in major financial scams by allowing fraudsters to launder huge sums of money.

Director of public Affairs of the Commission, Mr Wilson Uwujaren, made this known at a press briefing at the commission’s headquarters in Abuja, yesterday.

According to him, the compromised institutions allegedly allowed cryptocurrency transactions worth N162 billion to pass through without proper due diligence within the 2024/2025 financial year.

He said that the financial institutions clearly compromised banking procedures and allowed the fraudsters to safely change their ill-gotten gains into digital assets and move them to safe destinations.

“A total sum of N18.1 billion was moved through the financial system without due diligence of customers by the banks.

“It is worrisome that investigations by the commission showed that cryptocurrency transactions to the tune of N162 billion passed through a new generation bank without any due diligence.

“Investigations showed that a single customer maintained 960 accounts in another new bank and all the accounts were used for fraudulent purposes.

“That is bad news but the good news is that following our intervention the commission has been able to recover N33.62 million, which has been returned to some of the victims.”

He explained that the scams were in two categories, adding that the first was a syndicate of fraudsters that employed an airline discount scheme to lure their victims.

He said that they advertised a discount system for the purchase of flight tickets of a particular foreign carrier.

“The payment module is designed in such a way that the victims’ payment is actually made into the account of the airline.

“After payment is made the passenger’s entire funds in his bank account are emptied.

“Investigations showed that more than 700 victims have been scammed so far, with a loss of N651 million,” he said.

According to him, investigations show that the scheme is being masterminded by a foreign national; the commission has so far recovered and released N33 million to victims of the fraud.

He said that another scheme involved a company named Fred and Farid Investment Limited, simply called FF investment, which lured Nigerians into a bogus investment arrangement.

“More than 200, 000 victims have been defrauded in this regard. A total sum of N18 billion was raked in through nine companies offering diverse investment packages.

“The companies are: Credio Banco Limited; Deliberty Rock Limited; Liam Chumeks Global Service; Ngwuoke Daniels Technology; and Icons Autos and Import Merchant.

“Others are : Newpace Technology Services Limited, Primepath Ways Ventures Limited, Kaka Synergy Network Limited and Sunlight Tech Hub Services Limited.”

He said that foreign nationals were behind the schemes, while there are three Nigerian accomplices who have been arrested and charged to court.

He said that the masterminds were on the run and efforts are being made to bring them to book.

“The Commission is calling on regulatory bodies to bring financial institutions to compulsory compliance with regulations in the areas of Know Your Customers (KYC), Customer Due Diligence (CDD), Suspicious Transaction Reports (STRs) and others.

“Deposit Money Banks, Fintechs, Micro Finance Banks found to be aiding and abetting fraudsters should be suspended and referred to the EFCC for thorough investigation and possible prosecution.

“Negligence and failure to monitor suspicious and structured transactions by banks should no longer be allowed,” he said.

While cautioning members of the public to be wary of these actors, he said that the EFCC would continue its works against money laundering by fraudulent actors.

Uwujaren urged financial institutions to firm up their operational dynamics and save the nation leakages and compromises bleeding the economy.