News

18 States Under Investigation Over Fund Mismanagement – EFCC

Published

2 months ago

August 6, 2026

Editor

The Economic and Financial Crimes Commission has disclosed that about 18 states are currently under investigation over allegations bordering on the mismanagement of public funds.

The commission’s Director of Public Affairs, Wilson Uwujaren, made the disclosure during an interview on Arise Television on Thursday, but declined to name the states involved.

Uwujaren spoke while responding to questions on the commission’s decision to restrict an Osun State Government account, which he said was one of several similar actions the EFCC had taken or was preparing to take against state governments.

Asked directly whether other states were being investigated, Uwujaren confirmed that the number ran into double digits.

“Like we said in the statement, there are about 18 other states that we have ongoing investigations,” he said.

Pressed to name the states, he declined.

“I don’t want to start mentioning those states by name now,” he said.

When the interviewer suggested he should disclose the states with ongoing investigations, arguing that Nigerians deserved to know, Uwujaren held his ground, insisting the reluctance was strictly to protect the integrity of the probes and not to help any government evade scrutiny.

“Not running away per se, but not to jeopardise the investigation that is currently ongoing,” he said.

Uwujaren said the commission’s action against Osun State was not an isolated case, noting that a similar restriction had previously been placed on an Edo State Government account before the emergence of Governor Monday Okpebholo.

“Before, during the Edo State government, the Edo State election, before the coming of Governor Okpebholo, EFCC also took actions to restrict the account of that state government when we saw that funds were being moved to suspicious accounts.

“And we were able to preserve $12 billion for them. That is why the current government was able to come on board and have resources to work,” he said.

He said the commission’s interventions were guided by law and not directed at any particular administration.

“So this is not targeted at any particular government. We are simply doing our work under the law,” he said.

Asked why the commission had not taken similar action during the Ekiti State election, Uwujaren said the circumstances were different, citing intelligence that only the commission had access to.

“If you talk about what happened in Ekiti, we didn’t have any reason to intervene the way we are intervening now. And you don’t have access to the information that we have access to,” he said.

On the scope of the Osun State restriction, Uwujaren reiterated that only one statutory account had been affected, with the state government retaining access to its other accounts.

“We only targeted one statutory account, which is restricted, temporary restriction on that account. And it does not stop the government from operating other accounts that they have. It’s only one account that is frozen for now,” he said.

He said the commission had a 72-hour window within which to obtain a court order to sustain the restriction or lift it, adding that the window had not lapsed.

“We have a 72 hours window to obtain a court order, which the commission is at liberty to do.

“We have not exhausted that window, 72 hours, within which we either obtain a court order to continue to freeze it or lift the restriction on the other hand,” he said.

Reacting to the Osun State Government’s plan to approach the court over the freeze before the commission could act, Uwujaren said the state was within its rights to do so, adding that the EFCC would respond appropriately.

“It’s within their right to take that decision today. If we think they are right to take that decision, we are also working on what we should do as an agency,” he said.

Uwujaren also cited Section 34 of the EFCC Act and Section 7, Subsection 6 of the Money Laundering (Prohibition) Act 2022 as the commission’s legal basis for restricting accounts, noting that the powers applied broadly and were not limited to state governments.

“Absolutely. Those two provisions give us the power to place temporary restrictions on any account, not only limited to state government, on any account that we suspect that there are suspicious activities on those accounts.

“And we have 72 hours between which to produce a court order to continue to restrict those accounts or lift the restriction,” he said.

He maintained that the Osun State investigation was not a recent development, noting that it began in March and had already involved the questioning of some state officials.

“But as it is now, I want to restate the fact that the Osun State case didn’t start today. It started way back in March. And a number of officials from that state have been interviewed in course of this investigation. So it didn’t just begin now,” he said.

The disclosure of ongoing investigations in 18 states is likely to heighten scrutiny of state government finances nationwide, coming weeks after the commission’s restriction of the Osun State account drew condemnation from the state government and the Nigerian Bar Association.
(PUNCH)

News

Six Corps Members Receive N10m Grants To Boost Agribusiness

Published

2 days ago

September 22, 2026

Editor

Six members of the National Youth Service Corps (NYSC) have received a total of N10 million in grants to expand their agribusiness ventures under the Farmers for the Future Programme.

The programme was organised on Monday by the British American Tobacco Nigeria Foundation (BATNF) in collaboration with the NYSC to encourage young Nigerians to embrace agriculture and develop sustainable businesses.

Presenting the cheques to the beneficiaries in Abuja, the NYSC Director-General, Brigadier General Olakunle Nafiu, urged Corps members to maximise the opportunities provided by the service year by venturing into commodity marketing and other viable businesses.

Nafiu said agribusiness remained a viable avenue for young people to build sustainable enterprises, create employment and generate wealth.

He also stressed the importance of value addition to the success and sustainability of business ventures, while commending BATNF for placing Nigerian youths at the centre of its entrepreneurship initiatives through value-chain development, employment creation and its partnership with the NYSC.

“I charge you to spread the news around. We have seen the outcome, and it is a good idea,” he said.

The beneficiaries are Dominic Olufemi (FC/25C/1143), who received N3 million; Temitope Adewole (ED/26A/2251), N2 million; Abdulwaheed Bala (ED/25B/1402), N2 million; Olanike Mayungbe (OG/26B/1037), N1 million; Kingsley Udoeyen (KG/26A/1735), N1 million; and Lorember Lorsue (JG/25B/1742), N1 million.

Speaking on the selection process, the Acting Director, Skills Acquisition and Entrepreneurship Development (SAED), Mrs Winifred Shopeka, said the programme began with an online registration portal through which Corps Members engaged in agribusiness submitted their business plans.

She said nearly 3,000 Corps members applied and underwent a rigorous selection process that produced 20 finalists.

According to her, the finalists participated in a boot camp and a final pitching session, which produced the 10 best presenters before the six ultimate winners were selected.

Shopeka said the beneficiaries had also been mentored and attached to established market operators to assist them in marketing their products.

She added that Corps Members who did not make the final stage of the competition were also trained by BATNF.

The BATNF Team Lead, Mr Oludare Odusanya, congratulated the beneficiaries and urged Corps Members engaged in agribusiness to master the fundamentals and acquire the knowledge and skills necessary to succeed.

“We are happy with our collaboration with the NYSC, and it will continue,” he said.

Odusanya explained that BATNF was an independent organisation established to contribute to poverty reduction in Nigeria through sustainable agricultural practices and other interventions.

He said the Farmers for the Future Programme was instituted in collaboration with the NYSC to encourage Corps Members to venture into agribusiness and become job creators.

He added that the beneficiaries would be attached to mentors who would guide them towards achieving success in their respective businesses.

According to him, the programme has, since its inception, continued to enhance the entrepreneurial capacity of Corps Members.

News

CBN Reduces Interest Rate To 23%

Published

2 days ago

September 22, 2026

Editor

The Central Bank of Nigeria (CBN) on Tuesday announced the reduction of the interest rate, also known as Monetary Policy Rate (MPR) to 23 percent.

Briefing the media in Abuja, the Governor of the CBN, Mr. Olayemi Cardoso, said at the 307th MPC meeting held on September 22, 2026 agreed the resetting of the MPR and recaliberation of the monetary policy market.

According to Cardoso, the committe is satisfied with the disinflation progress, adding that members noted stable banking sector following successful recapitalisation.

Meanwhile, according to Nigerian Tribune, reports that that the MPC, at its 306th meeting in July 2026, disclosed its resolution to retain the interets at 26.5 percent.

According to the Governor of the CBN, Olayemi Cardoso, “the Committee’s decision to maintain the current policy stance followed a thorough assessment of the balance of risks. Although headline inflation moderated marginally in June 2026, global uncertainties have heightened, due mainly to the renewed hostilities in the Middle East.

“In view of the evolving developments, maintaining a cautious monetary policy stance remains appropriate. In arriving at its decision, the Committee noted the recent resurgence of hostilities in the Middle East, with particular attention to its spillover effects on global energy prices and the potential pass-through to domestic inflation.”

News

NURTW: KWAM1 Settles Long-time Rift Between MC Oluomo, Tafa Sego

Published

2 days ago

September 22, 2026

Editor

Nigerian Fuji musician, Wasiu Ayinde Marshal, popularly known as KWAM1, has brokered a peace deal between the National Union of Road Transport Workers (NURTW) National President, Musiliu Akinsanya, popularly known as MC Oluomo, and the Lagos State Chairman of the union, Mustapha Adekunle, aka Tafa Sego.

The reconciliation took place at Ojusagbola in Ijebu, Ogun State, where several NURTW chieftains gathered for the meeting.

The development was announced on Tuesday on KWAM1’s digital media page on Instagram, alongside photographs from the meeting.

According to the post, the two union leaders have resolved their differences after years of strained relations.

“After years of an age-long rift, MC Oluomo and Tafa Sego have finally settled their differences. And from what we know now, this is final,” the post said.

The musician was said to have intervened as the Mayegun of Yorubaland, with the aim of bringing an end to the longstanding disagreement between the two NURTW figures.

“K1 acted in his role as the Mayegun of Yorubaland by seeking an end to the long-standing rift, once and for all,” it said.

The post also described the meeting as a significant step beyond previous public displays of reconciliation.

“This time, it was not just another handshake for the cameras. The two old friends and colleagues came together at Ojusagbola, with King Wasiu Ayinde Marshal (K1) playing the peacemaker.”

Both MC Oluomo and Tafa Sego were reported to be pleased with the outcome of the intervention.

“Both parties are delighted about the new development,” the post said.

The two men had previously been allies and prominent figures within the Lagos NURTW before their relationship became strained amid disagreements linked to leadership of the union in the state.