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EFCC Chairman Dismisses Tinubu’s Power Sector As Corrupt

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Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has alleged that the depth of corruption in the power sector would make anyone weep for Nigeria.

He said: “As we speak, we are grappling with electricity. If you see some of the investigations we are carrying out within the power sector, you will shed tears.

“People were awarded contracts to supply electricity equipment. Instead of using what they call 9.0 guage, they will go and buy 5.0.

“Every time you see the thing tripping off, the thing gets burnt, and all of that, it falters and it collapses. It’s part of our problems.”

Olukoyede made the revelation during an oversight visit by the House of Representatives Committee on Financial Crimes to the EFCC’s headquarters in Abuja on Tuesday.

He stressed the importance of collaboration between the Commission and lawmakers to combat financial crimes effectively.

One of the key areas of concern, according to Olukoyede, is the power sector, where corrupt practices have been undermining the country’s infrastructure.

It was at this point that the EFCC boss revealed that some contractors awarded contracts to supply electricity equipment were cutting corners.

He said they were using substandard materials that have contributed to the frequent power outages and system failures.

This, he said, is one of the many examples of how corruption in critical sectors is holding back the country’s development.

Olukoyede also discussed the EFCC’s new strategic focus on asset tracing and recovery, which he credited for the agency’s successes over the past year.

Furthermore, he revealed that “For every N10 recovered, perhaps N30 or N40 Naira may have been stolen.

“If we recover about N440 billion and several billions of dollars in a year, imagine the total amount siphoned from our system. That’s the unfortunate reality.

“Thus, we are focusing on prevention. Over the last year, we have established a new directorate for risk assessment and control.

“To recover 10 Naira, you may spend between 4 and 5 Naira. But to prevent 10 Naira from being stolen, you spend less than 1 Naira, based on our research and experience.

“Prevention is, therefore, the more effective way to combat corruption.

“We need more resources to carry out our mandate effectively. Our staff are underpaid, and we need to improve their welfare.”

Reacting, Ginger Onwusibe, Chairman of the House Committee on Financial Crimes, expressed the committee’s readiness to support the EFCC through legislation and improved budget allocations.

Onwusibe also urged the Commission to enhance its operational capacity and strengthen collaborations with other agencies and development partners to improve accountability and efficiency in the fight against corruption.”

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Ex-Polaris Bank Chief Remanded in Prison Custody for Alleged Fraud

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The Special Offences Court sitting in the Ikeja area of Lagos State, on Monday, remanded a former branch manager of Polaris Bank, Abiodun Sanni, at the Ikoyi Custodial Centre for alleged multi-million naira fraud.

Sanni was arraigned by the Economic and Financial Crimes Commission (EFCC) on a 16-count charge bordering on obtaining credit by false pretences, forgery, use of false documents, and stealing.

The EFCC counsel, Orhieoghene Adewunmi, told the court that Sanni committed the offences at the Iju branch of the bank in Lagos on February 24, 2020.

The lawyer stated that the defendant, as the branch manager of Polaris Bank, obtained from the bank a credit sum of N17 million in form of a loan.

He said Sanni collected the loan on the pretext that the loan had collateral in the form of a fixed deposit worth N111.1 million, which belonged to one Yinkus Multi-biz Ventures.

The EFCC lawyer also alleged that the former bank manager dishonestly converted a Polaris Bank fixed deposit account worth N15.1 million, belonging to one Joshua Atolagbe, to his personal use.

According to Adewunmi, the alleged offences contravene Sections 36(1), 278(1), 313(1)(a), 361 (1) and 364 (1) of the Criminal Law of Lagos State, 2011.

Sanni, however, pleaded not guilty to all the counts preferred against him.

Adewunmi urged the court to remand the defendant.

“My lord the prosecution intends to call 10 witnesses in this case. We urge the court to remand the defendant in custody in view of his not-guilty plea,” the EFCC lawyer said.

The defence counsel, Osho Oludoshu, told the court that he had filed a bail application.

The presiding judge, Justice Olubunmi Abike-Fadipe, thereafter, remanded Sanni at the custodial centre.

Justice Abike-Fadipe adjourned the case to March 6, 2025, for the commencement of trial.

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INEC Declares APC’s Aiyedatiwa Winner of Ondo Guber Election

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The Independent National Electoral Commission (INEC) has declared the candidate of the All Progressives Congress (APC), Mr. Lucky Aiyedatiwa, as the winner of the just concluded Ondo State governorship election, held on Saturday, November 16, 2024. 

The Returning Officer for the election Olayemi Akinwumi, who is also the Vice-Chancellor of the Federal University, Lokoja, Kogi State declared Aiyedatiwa winner of the election on Sunday, extending the governor’s stay at the Government House in Alagbaka, Akure.

Governor Aiyedatiwa polled 366,781 votes to defeat his closest rival and a former deputy governor of the state Ajayi Agboola who flew the Peoples Democratic Party (PDP) flag. He scored 117,845 votes, more than twice lower than the APC candidate.

“That Lucky Orimisan Aiyedatiwa of the APC having satisfied the requirement of the law is hereby declared the winner and is returned elected,” the returning officer said at exactly 2:30 pm at the INEC collation centre in Akure.

The declaration came hours after the collation of results for the election began in the early hours of Sunday. Although the collation centre went on breaks, the APC took a commanding lead with over 200,000 votes ahead of the PDP.

The final results showed that the APC won the election in a landslide, clearing all 18 local government areas.

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PDP Chieftain Sues IGP Egbetokun over Police Invasion of Home

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A former National Deputy Publicity Secretary of the Peoples Democratic Party (PDP), Dr. Diran Odeyemi has filed a fundamental rights suit against the Inspector General of Police, Kayode Egbetokun.

Also joined in the suit is the Osun State Commissioner of Police.

The suit dated November 7, 2024, was filed before a Federal High Court in Osogbo, Osun State capital.

In an affidavit in support of originating summons, Odeyemi accused armed agents of the defendants of invading his residence at Ibadan on October 26, without prior notice.

The plaintiff said the invasion of his residence and attempt to unlawfully arrest him was part of plans by the All Progressives Congress (APC) to silence leaders of the Peoples Democratic Party in Osun State.

Odeyemi alleged that the National Chairman of the All Progressive Congress, Alhaji Abdullahi Ganduje on 20th of October, 2024, declared in Akure, Ondo State capital that the party had a secret strategy to recapture Osun State for APC, adding that what played out at his residence was part of the broader plans of the APC.

The plaintiff asked the court to determine where the attempt and threat by the defendants and their agents to arrest him on wilful investigation of some stalwarts of the APC do not constitute an infringement of his fundamental rights to personal liberty, freedom of movement, expression and association.

The ground of the originating summons includes, “The plaintiff by virtue of sections 35, 39, 40, 41 and 46 under Chapter IV of the 1999 Constitution of the Federal Republic of Nigeria (as amended) and under the African Charter on Human and People’s Rights is entitled to enjoy his rights to personal liberty, freedom of movement, freedom of expression and freedom of association.

‘The Plaintiff, being a citizen of Nigeria, has the right to move freely without any inhibition, express his thoughts, associate freely, and enjoy his dignity without being harassed, intimidated,d, or hindered in any way or manner.

“The Defendants and their officers are rigorously attempting to violate the plaintiff’s fundamental rights to personal liberty, freedom of movement freedom of expression, and freedom of association by threatening and planning to intimidate, harass, molest, and unlawfully arrest and detain him on wilful instigation of some politicians within the All Progressives Congress who are hellbent on framing the Plaintiff in order to silence him, as part of the All Progressives Congress secret strategy to recapture Osun State and wrestle power from the Peoples Democratic Party in the State., come 2026.

“The National Chairman of the All Progressives Congress boastfully stated in Akure on the 20th October 2024 that the APC had a secret strategy to recapture Osun State from the Peoples Democratic Party but that he would not reveal the secret and his threatening statement was widely reported in the media.

“In what appears like the commencement of the secret political machinations, the agents of the Defendants, at the instance of some APC politicians and without having ever invited the Plaintiff, invaded the Plaintiff’s home on the 26th day of October 2024 in an attempt to unlawfully arrest, detain, harass and intimidate the Plaintiff but they failed because the Plaintiff was not in the country”

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