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EFCC Chairman Olukoyede Vows To Prosecute Banks Top Officials

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The Executive Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has reiterated the commission’s commitment to rigorously enforcing financial laws, focusing on cleansing the banking sector and insulating it from rogue activities, JomogNews Nigeria reports.

This Nigeria news platform understands that Olukoyede made this declaration on Tuesday at the Chartered Institute of Bankers of Nigeria’s 17th Annual Banking and Finance Conference, held at the Congress Hall, Transcorp Hilton Hotel, Abuja.

In his address, Olukoyede stated that the EFCC would no longer tolerate malpractices in the financial sector.

“I boldly state with every sense of humility that we are no longer folding our arms,” he declared.

He emphasised the critical role the banking industry plays in some of the country’s most significant financial fraud cases.

“Some of the mind-boggling, major financial frauds and onslaughts that have been carried out against the economy have run through the banking industry,” he added, affirming the Commission’s commitment to working with the CIBN to sanitise the sector.

Olukoyede outlined the Commission’s approach, stressing the importance of penal sanctions for criminal infractions.

“When there are criminal infractions, penal sanctions will follow. We have compiled our documents, conducted the necessary investigations, and very soon, you will see some banks and top officials prosecuted,” he said.

He also highlighted specific malpractices undermining the financial system, including forex round-tripping, phantom charges, and complicity in money laundering.

According to Olukoyede, these activities are eroding trust in the sector.

“Operators secretly devise means to circumvent regulations and rules in a desperate bid for higher yields… Look at yourselves in the mirror and leave this place with a renewed commitment to professionalism,” he urged banking executives.

Speaking on behalf of President Bola Tinubu, Vice President Kashim Shettima outlined the broader economic challenges Nigeria faces, noting that issues such as inflation, rising living costs, and infrastructural deficits are interlinked.

Despite these challenges, Shettima expressed optimism about growth opportunities, saying, “The challenges also present opportunities for growth and development.”

He emphasised that sustainable economic growth would require collaborative efforts across government, private industries, and civil society.

“To achieve sustained economic growth, we must intentionally align our policies and actions with the changing global landscape,” he remarked, adding that the government is committed to implementing reforms to enhance macroeconomic stability and support infrastructure development.

He also tasked the private sector with contributing to the nation’s development by investing strategically in key growth areas and prioritising innovation.

He stated, “The future of the Nigerian economy lies in the hands of our youths, and we must equip them with the skills, knowledge, and opportunities needed to drive our nation forward.”

In his opening remarks, the President of the CIBN, Pius Olanrewaju, emphasised the need for actionable outcomes that would contribute to the evolution of the banking sector and the broader economy.

Additionally, the keynote speaker, Tony Elumelu, Chairman of Heirs Holdings, reflected on the economic difficulties Nigeria has faced in 2024, characterised by inflation and trade imbalances.

“2024 has been a tough year for the country,” he said, advocating for long-term solutions over quick fixes. Elumelu called on stakeholders to focus on sustainable economic policies that will provide a solid foundation for future growth.

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Gumi Defends Dialogue As Sole Solution To Nigeria’s Insecurity

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Islamic cleric Sheikh Ahmad Gumi recently defended his past interactions with armed groups, stating he “took the bull by the horns” in 2021 as a necessary step to address Nigeria’s insecurity.

In a post shared on Facebook on Thursday, Gumi said decades of neglect of disadvantaged populations had created deep socio-economic inequalities, leaving many youths vulnerable to manipulation by external forces seeking to destabilise the country.

According to him, the widening gap between the rich and the poor has turned many young people into “ready-made foot soldiers” in cycles of violence that enable the exploitation of Nigeria’s resources.

He also criticised the political class for being largely unresponsive, while noting that the intellectual community is preoccupied with survival struggles.

Reflecting on his past efforts, Gumi said he “took the bull by the horns” in 2021 by attempting to reintegrate violent elements into society rather than allowing them to be further radicalised.

He wrote: “Nigeria for decades has ignored the underprivileged section of its society. There is a significant socio-economic discrepancy, and the society is stratified. This makes our teaming youth ready-made foot soldiers for any foreign interest trying to divide us and rule. To plunder our resources while we are involved in a vicious circle of violence.

”Unfortunately, the political class is unattentive while the intelligentsia is held hostage in the struggle for existence.

“In 2021, I took the bull by the horns in an attempt to bring some of these uncouth elements back to our fold rather than letting them be exploited by the devil.

“I still believe this is the only way out of our predicament. However, it needs the political will and determination to achieve.

“May Allah bring peace back to our nation.”

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Court Clears Senator Ireti Kingibe To Remain Active In ADC

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The Federal High Court in Abuja rejected an ex-parte application seeking to bar Senator Ireti Kingibe from participating in the activities of the African Democratic Congress (ADC).

Justice Peter Lifu declined the request from Wuse Ward leaders, ruling that such an order could not be granted without first hearing from the senator.

Instead, the judge ordered the ward leaders said to be loyal to the Minister of the FCT, Nyesom Wike, to put the senator on notice to appear in court to join issues with them on their grievances.

Justice Lifu in a ruling on Thursday held that discretion in such a request for prohibition from party activities and in political matters must be exercised judicially and judiciously.

The judge said justice would be met in the case of the plaintiffs only when the side of the defendant is heard on its merit, along with that of the plaintiffs.

Consequently, the judge ordered that Senator Ireti Kingibe should be served with all court processes by the plaintiffs to enable her become aware of the suit and to prepare her defense.

The judge fixed April 20, 2026, for the plaintiffs and the serving senator to appear before him for hearing of all applications in the matter.

Those who sued the senator in the suit marked FHC/ABJ/ CV/539/2026 are Okezuo Godfrey Anayo and Isaiah Ojonugwa Samuel, on behalf of themselves and ward members as plaintiffs. The senator is the sole defendant.

In their ex-parte application, Kingibe representing the FCT in the Senate was said to have been suspended on March 10, 2026 by her Wuse Ward executives following allegations of anti-party activities and disregard of your cnstitution of the ADC.

In the ex- parte application filed on their behalf by a Senior Advocate of Nigeria, SAN, Kolawole Olowookere, the aggrieved ADC members in Wuse Ward applied for an order of interim injunction restraining Kingibe from parading herself as a member of party, pending the hearing and determination of their motion on notice for interlocutory injunction.

They also asked the judge to restrain the senator from performing any function, attending meetings or performing activities reserved for ADC members or representing the party in any activities.

Besides, the Ward Executive Committee had asked that she be restrained from further interfering with the administration of the ward, ward register and other activities.

The suit was predicated on five grounds among which are that Mrs Kingibe was placed on suspension due to anti-party activities, gross misconduct and confiscation of the ward statutory records.

They argued that the suspension followed due process as enshrined in the ADC constitution and ratified by the two thirds majority of the EXCO members.

They averred that despite the communication of the suspension to Kingibe, she has continued to hold parallel meetings, issue press statements as an ADC member, and using her security details to intimidate the executive committee.

“Her actions constitute flagrant disregard to the internal mechanism of the party,” the plaintiffs stated.

Meanwhile, a lawyer, Abubakar Marshall who claimed to be representing the senator, announced that he had filed a preliminary objection against the suit. He added that it was served on M. S. Garba, who stood for the plaintiffs at Thursday’s proceedings.

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COAS Shaibu Hits Jos To Restore Peace, Public Confidence

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The Chief of Army Staff (COAS), Lieutenant General Waidi Shaibu, visited Jos, Plateau State, on Thursday, April 2, 2026, to lead a high-powered security assessment following recent security breaches.

The visit was aimed at strengthening public confidence and reinforcing ongoing efforts to stabilize affected communities.

Colonel Appolonia Anele, acting Director, Army Public Relations, said in a statement that the visit forms part of ongoing efforts to restore calm and entrench lasting peace across the state.

According to the statement, upon arrival, the COAS was received by the Executive Governor of Plateau State, Caleb Mutfwang, in a clear demonstration of strong civil-military cooperation and a shared commitment to addressing emerging security challenges.

The statement said the COAS received a comprehensive operational briefing from the General Officer Commanding 3 Division and Commander, Joint Task Force Operation ENDURING PEACE, Major General Folusho Oyinlola, who highlighted ongoing operations and proactive measures being implemented in synergy with other security agencies to contain threats, protect lives and property, and stabilise affected communities.

“As part of his engagements, Lieutenant General Shaibu also interacted with community leaders and residents, reassuring them of the unwavering commitment of the Nigerian Army to safeguarding all law-abiding citizens.

He urged residents to remain calm, vigilant and supportive of security agencies by complying with the curfew and cooperating fully with ongoing operations and investigations, while going about their lawful activities.

The chairman of Jos North Local Government Area, Hon. Dachung Bagos, commended the COAS for the timely visit, noting that the presence of the nation’s top military leadership would boost public confidence and reinforce trust in ongoing security efforts.

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