News

EFCC Seeks Law To Seize Unexplained Wealth

Published

2 years ago

December 18, 2023

The Chairman of the Economic and Financial Crimes Commission, Mr Ola Olukoyede, has called for legislation against unexplained wealth, as a way of checking the criminal activities of treasury looters in the country.

The EFCC spokesperson, Mr Dele Oyewale, in a statement, quoted Olukoyede as making the call at a two-day International Law Conference organised by Christopher University, Mowe, Ogun State.

The theme of the conference was “Unexplained Wealth in the Global South: Examining the Asset Recovery and Return Trajectory.”

Olukoyede said several countries, including the United Kingdom, Australia, Mauritius, Kenya, Zimbabwe and Trinidad and Tobago, had embraced the Unexplained Wealth Orders since it came into force in 2018.

He said the EFCC was still relying on the provisions of Section 7 of its Establishment Act to check the menace.

“The issue of unexplained wealth is not a local issue. There are pieces of jurisdictional legislation across the world to tackle it.

“To date, countries of the world are faced with criminalities emanating from money laundering practices and illicit funds. This circumstance led to the promulgation of Unexplained Wealth Orders, that came into force in 2018.

“Several countries, such as the United Kingdom, Australia, Mauritius and African countries like Kenya, Zimbabwe, and Trinidad and Tobago in the Caribbean have come up with UWO. Nigeria is yet to come up with a national legislation on it,” he said.

The EFCC boss, who was represented at the conference by the Abuja Zonal Commander, Assistant Commander of the EFCC, ACE1 Adebayo Adeniyi, emphasised that treasury looters would have little cover if the issue of unexplained wealth was tackled more seriously across the world.

“In Nigeria today, unexplained wealth has become a practical means of tracing, identifying, investigating and prosecuting corruption cases.

“As an anti-graft agency, suspects of any economic and financial crimes are usually required to declare their assets in the course of the investigation.

“The basis for this is to properly establish their true asset base and their linkage or otherwise to any act of corruption.

“Owing to the absence of legislation on the issue of unexplained wealth, the EFCC continues to rely on provisions of Section 7 of its Establishment Act to handle it,” he said.

Olukoyede said the concerns about unexplained wealth bordered more on asset tracing, investigation and recovery.

“Nations are rapidly settling for non-conviction-based asset forfeiture. The reason for this is simply unexplained wealth can only be beneficial to the state if they are forfeited.

“Since inception, the EFCC has secured sizable assets from fraudsters. They range from houses, vehicles, barges, jewelry, money, furniture items, landed properties, among others,” he said.

Explaining further, the EFCC boss stated that, “procedures for asset forfeiture usually involve the prosecution of the suspected fraudster, as assets may be forfeited on an interim basis or be forfeited permanently, depending on the position of the law and the court.

“However, whether interim forfeiture or permanent forfeiture, what is important is for every ill-gotten wealth to be recovered and kept with the government,” he said.

He urged the public to be forthcoming with information about suspicious assets in their various communities, as the commission would work better only if intelligence and information were readily available.

On the realities of countries in the global south concerning asset recovery, Olukoyede pointed out that countries in the global South were still far away from a culture of public accountability.

“Ethnic and religious biases often stand in the way of full disclosure of information by people in third world countries.

“The implication of this is that anti-corruption agencies can only operate based on the intelligence available to them,” he said.

While talking about the hurdles in asset recovery in Nigeria, Olukoyede punctured the technicality of prosecution of looted assets that sometimes require publication in major newspapers.

“This takes time. Sometimes, the delay may come from some fraudulent claims to frustrate the forfeiture proceedings. In all of these, what is paramount is the facts available to the court.

“At the end of it all, assets are always recovered permanently for the benefit of all.

“Also, recovery of stolen funds stashed in foreign jurisdictions is more complex. Institutions of state are usually involved in the recovery of such funds and this takes far more time and effort, he added.

“The return trajectory involved in this may even take years, and this can be really frustrating to anti-corruption agencies or government institutions involved in the recovery.

“Nigeria is having such instances in the recovery of looted funds by many government officials,“ he said.

News

Edo-Delta Oil Well Dispute: Tinubu Urged To Halt Drilling In Disputed Oil Rigs

Published

13 minutes ago

November 14, 2025

Editor

Edo State Government has called on President Bola Tinubu to halt further drilling of crude in the disputed oil wells between Edo and Delta states until resolution of the matter.

Deputy Governor of the state, Hon. Dennis Idahosa, made the call in Benin on Friday when he received members of the National Boundary Commission (NBC) led by its Director General, Adamu Adaji.

Idahosa, who also called for the freezing of the accounts of the Delta state based oil firms, noted that this step will ensure fairness and justice in the disputed oil rigs.

“I want to use this opportunity to appeal to the President to stop or instruct the regulatory agencies to also stop all the benefits accruing to Delta State pending when this matter is resolved.

“It is clear that Delta State is playing games with us and also the National Boundary Commission.

“It is clear that they don’t want this matter to be resolved, knowing fully well that those assets belong to Edo State,” he stated.

Idahosa also urged the NBC to also critically examine all the documents relating to the disputed oil wells that are before them to ensure true ownership of the oil wells.

He, however, emphasised that in spite of the seemingly provocation from its neighboring state, the communities where these rigs are located have remained peaceful and law abiding.

He pointed out, “A lot of communities are affected – the Orogho and Urhonigbe Communities.”

“We told the NBC Director General that we will no longer wait, as the documents required have since been provided to them as far back as July. We also understand that Delta state is yet to submit the same to the commission.

“Our people are suffering from things they are supposed to be benefitting from.

“God has given them all these opportunities for them to use to develop their community and their state, instead, the NBC is allowing these opportunities to go to Delta State.

“This issue has to be resolved and within a specific timeline. That is my plea,” Idahosa declared.

He said there was a need to urgently resolve the issue in an effort to reduce the tension between the two neighboring states.

While noting that this issue could escalate to potential hostilities between the two states if not urgently resolved.

According to him, “There is so much tension and pressure in the affected communities, and, if the state government cannot give them something substantive, to work with, it might lead to internal or communal crises.

“We don’t want that, that is why we want this issue resolved as soon as possible.”

Responding, the NBC boss, Adamu Adaji reaffirmed the commission’s position that urgently resolves the matter.

He noted that it was the need to resolve the issue that necessitated the commission’s visit.

He stated, “We cannot allow a party to delay the process. There must be an end to it.

“We have come to an extent, perhaps, where we will personally interface with the two sides, on individual bases, where we need clarity and identification to make sure this issue is resolved once and for all.

“This will be done in accordance with available delineation documents and other ground rule methods to identify and make recommendations to the federal government for adoption.”

News

FG Partners Transport Workers, Cattle Breeders To Curb Waybill, Arms Proliferation In Northeast

Published

4 hours ago

November 14, 2025

Editor

The National Centre for the Control of Small Arms and Light Weapons (NCCSALW), Northeast Zonal Centre, under the Office of the National Security Adviser to President Bola Tinubu has partnered with road transport workers and cattle breeders to curb waybill and proliferation of illicit small arms and light weapons in Northeastern states of Nigeria.

Speaking during an engagement with officials of the National Union of Road and Transport Workers (NURTW), National Association of Road Transport Owners (NARTO) and Borno Express, Maiduguri, Maj-:Gen Abubakar Adamu (Rtd), the Northeast Zonal Director of NCCSALW, reiterated the commitment of the centre to curb the menace of the proliferation of small arms and light weapons in the state.

He explained to the stakeholders that trafficking of these small arms and light weapons through motor parks and public transport services in concealed waybills or personal luggage is an issue of interest to the Centre.

While highlighting the key roles that transport unions and motor parks managers could implement to ensure an arms free society, the Zonal Director urged the stakeholders to take ownership of their communities and adopt a community-based approach.

He called on them to collaborate with the Centre and support efforts geared towards sensitizing the public on dangers of the proliferation of illicit small arms and light weapons in the country.

“This engagement aligns with broader NCCSALW objectives and underscores the North East Zonal Centre’s commitment to work harmoniously with stakeholders to strengthen Borno State’s security posture,” he said.

In their separate reactions, Abba Shuwa Baba, Chairman of NURTW, Abba Jiddah Bishara, Chairman of NARTO and Saminu Yakubu, Manager of Borno Express all expressed readiness to collaborate with the Centre and pledged their support.

The interactive session provided an insight on the stakeholders’ commendable efforts and achievements such as the arrest of several arms couriers in their respective motor parks and terminals.

However, they expressed concern over lack of accountability and transparency in the prosecution of suspects by authorities, alleging that most of the people apprehended with arms and ammunition in the motor parks are serving military and security personnel.

They also expressed frustration over the lack of feedback from authorities on disciplinary action taken against those arrested.

Additionally, it was observed during the engagement that the spring up of illegal motor parks outside government approved locations pose a serious security challenge which aids the proliferation of small arms and light weapons in the state.

There was consensus amongst the stakeholders on the need for the government to enhance security presence in motor parks and close all illegal motor parks just as the call for feedback on reported cases to motivate the stakeholders was amplified.

Similarly, the Centre visited the International Cattle Market in Potiskum Local Government Area of Yobe state where it held a stakeholder sensitization meeting with the State Chairman, Amalgamated Cattle breeders Association of Nigeria, the representative of the Emir of Fika and Mai Patiskum in charge of livestock, Miyetti Allah officials, amongst others.

The meeting focused on identifying practical strategies to mitigate the proliferation of SALW in Yobe State. This engagement aligns with the Centre’s mandate to promote community-level security collaboration and reinforces the Centre’s commitment to work closely with local stakeholders.

The Northeast Zonal Director urged market leaders and traditional ruler to take ownership of community safety efforts, emphasizing a community-based approach to combating arms proliferation in Northeast.

In their responses, the State Chairman of the Amalgamated Cattle Breeders Association, Alhaji Hamza Nguru and the Executive Chairman of Potiskum LGA, Hon. Ado Gojun, appreciated the Centre’s outreach efforts to the grassroots communities and pledged continued partnership and support and requested more frequent engagements with the Centre.

The Centre also paid a working visit to Brig:-Gen D. Abdussalam, the Special Adviser on Security Matters to the Executive Governor of Yobe State.

News

Why U.S. Military Intervention In Nigeria Will Be Messy, Says Adeyemi

Published

5 hours ago

November 14, 2025

Editor

The Senior Pastor of Daystar Christian Centre, Oregun, Lagos, Dr Sam Adeyemi has disclosed why the American government is coming to Nigeria to fight insecurity.

He said that some Nigerians that experienced the pain of killings reached out to members of the U.S. government that they are being killed for reason of their faith and the U.S. government responded based on the value they placed on human lives that all men are created equally and that everyone has the right to life.

Adeyemi made this known while fielding questions from journalists yesterday at a press conference held in his church in Oregun to announce the 30th anniversary of Daystar Christian Centre, themed: “A Mosaic of Changed Lives.”

The cleric who spoke in company of his wife, and co- founder/Deputy Senior Pastor, Dr Mrs Nike Adeyemi and other church leaders, said the reason God planted the church was to raise role models in the society and it started when Nigeria was in turbulent season Adeyemi said, “If America intervenes, it will be messy. That’s the truth”.

Some of people that support the killing of Christians are powerful. Some of them are at the highest level of government and wealthy.

America will be just throw a bomb and go away; it is going to be messy. At the end of everything, they will go and we will still have to sit down and have a discussion. That discussion is what I have been calling for.

“The fact that Christians have been killed in our country in large numbers cannot be contested because the evidence is everywhere. It is on the internet. The pictures and numbers are there. So we should not argue over words. Should we call it genocide or should we not call it genocide, it does not reduce the impact of the loss of lives especially to the members of the families of those who have been killed. Some of them in very gruesome manners. We should not be so insensitive as to be arguing over semantics.

“This is human lives and many of them well documented. The question is why is America getting involved, America is getting involved because some Nigerians that have experienced the pain reached out to members of the U.S. government that “we are been killed for our faith. The U.S. government responded because of the stated values of the United States.

“In declaration of the independence of the United States, it is written, ‘we adjudge this truth to be self confident that all men are created equally and everyone have a right to life’. So they took these issues up because there is value for human lives. We should ask ourselves, do we value human lives in our country? Why should people be killed like that? That takes us to the bigger picture, the fact that people are been killed in our country everyday for reasons they should not die.

“There are many people today who can’t go to their home town because of the fear of kidnappers. We cannot contest the fact that some of the people doing the killing of Christian are some people that belong to some strange sect of the Islamic faith. They see it as the will of God to kill infidels. Many of us also have related and lived with Muslims. I spent the first 10 years of my life in Niger State. I did my national youth service in Kano State. We know that the majority of Muslims are honest people. What we need in our country is conversation.”

Expressing his gratitude to God, Adeyemi said, “A Mosaic of Changed Lives, Celebrating 30 years of raising role models” captures both gratitude and vision, it reminds us that when you build people, you build a future through platforms such as the Daystar Leadership Academy with an alumni of over 55, 000 people who have been trained to lead with integrity and excellence across business, government and non-profit sectors. Through the Daystar Skills Acquisition Programme, we have empowered tens of thousands of people in diverse vocational skills. We also have the Daystar Business Academy started about 20 years ago where Entrepreneurial class every Sunday morning to empower the people. The products of that class are multi-millionaire and billionaires entrepreneurs. The next 30 years will centre on digital discipleship, leadership incubation and global transformation. As part of this celebration, we invite you to join us on Saturday November 15, 2025 for a special anniversary service at 10a.m.

On why God planted the church, Adeyemi said, “Three decades of transformational ministry: The vision is to raise role models in the society. When this journey began 30 years ago, our nation was weary. It was a turbulent season for our nation, there were protests, we prayed like never before because our country was tethering at the edge of cleave.

Deputy senior Pastor at Daystar Christian Center, Dr Nike Adeyemi said, “The story of DayStar is really the story of grace. Grace that transforms ordinary people into extra ordinary testimonies. Every changed life you have ever seen connected to DayStar is a chapter of that story. For 30 years we have witnessed how love and consistent teaching can heal, restore and awaking the sense of purpose. Our focus has always been on building people from the inside out spiritually, emotionally and mentally. As we celebrate our 30th year anniversary, we invite everyone whose life have been touched by DayStar to come and share the transformation story.”