Headlines
EFCC Boss Knocks Nigerians for Celebrating Corrupt Leaders
Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has argued that Nigeria’s under-development would be a thing of the past if everyone begins to see corruption as a common enemy and tackle it.
He stated this on Friday when officials of the Centre for Crisis Communication (CCC) led by the Director of its Board of Trustees (BoT), Major General Chris Olukolade (rtd) paid him a courtesy visit at the EFCC corporate headquarters, Abuja.
He said: “One of the major problems in Nigeria which when tackled, will make under-development a thing of the past, is corruption and financial crimes. A society that is ready to move forward is a responsibility not only of the government, but of the citizens. This is what has actually led some of us to be very committed to this cause.
“We are ready to go the whole hog to do what we need to do within the confines and provisions of the law and the power that the Constitution has conferred on us. If everybody makes up his or her mind to do the right thing, we’ll move forward in this country.”
Olukoyede, who expressed delight at the proposal of the CCC delegation for collaboration and synergy in the areas of strategic communication and public engagement, re-emphasized that the work and successes of the EFCC run on the wheels of public engagement and advocacy.
“We thank you for proposing a synergy and collaboration with us to support the work we do. One of the strong pillars of our mandate is the issue of public engagement and public advocacy. We will partner with you in that respect. We have so many projects and programmes with respect to letting the public know what we’re doing and we are doing everything possible to ensure that we create awareness on the part of Nigerians with respect to the need for us to be careful and play by the rules.
“However, it is so unfortunate that the same people who approbate also reprobate at the same time. Everybody is crying that Nigerians are corrupt, that the system is corrupt; that corruption is killing us and destroying our system, but when we investigate high profile cases and arraign people in court, the same people will carry placards and be supporting corrupt leaders.
“It doesn’t show that we are serious about this fight. The fight is supposed to be a collaborative effort. No single agency can do it alone. It is practically impossible for us as EFCC to fight all the battles. The society has a role to play; policy has a role to play and the issue of welfare of the citizens has a role to play,” he said.
Speaking on the trajectory of his leadership, he disclosed that he has prioritized prevention over enforcement since coming on board.
“Now we are laying more emphasis on prevention which is a critical aspect of our mandate. We don’t have to always be waiting for money to be stolen before we start working in EFCC. To drive prevention, I established a new directorate called Fraud Risk Assessment and Control, FRAC and now we are doing more of blocking of the leakages. We have access to GIFMIS (government payment platform). We want to track and see where every money released is going.
“We want to ensure that every capital project is executed. With prevention, we discovered that there will be less to enforce. We are not dropping our mandate on enforcement. As a matter of fact, we are scaling it up. But we believe that it is important for us to prevent because it costs less to prevent than to react when the deed must have been done. So that is one of our areas of focus as of now.”
US President Donald Trump has signed a federal spending bill, officially ending the longest government shutdown in American history.
The legislation, passed by the House of Representatives in a 222–209 vote, followed narrow approval in the Senate just two days earlier. The bill restores funding to federal agencies after 43 days of closure, bringing relief to millions of government employees and citizens affected by halted services.
Speaking after signing the measure on Wednesday night, Trump described the deal as a political victory, asserting that Democrats unnecessarily prolonged the shutdown.
“They didn’t want to do it the easy way. They had to do it the hard way, and they look very bad,” he said.
The temporary funding bill maintains government operations only through 30 January, creating a new deadline for lawmakers to negotiate a long-term budget solution.
As part of the agreement, Senate leaders committed to an early December vote on Obamacare subsidies, a key priority for Democrats during the shutdown standoff.
In addition to reopening federal offices, the bill provides full-year funding for the Department of Agriculture, military construction projects, and several legislative branch offices.
It also ensures retroactive pay for federal workers affected by the shutdown and allocates funding to the Supplemental Nutrition Assistance Program, SNAP, which helps about one in eight Americans access food.
The shutdown, which began in October, forced the suspension of many government services, leaving an estimated 1.4 million federal employees either furloughed or working without pay. It also disrupted food assistance programmes and caused widespread delays in domestic air travel.
With federal operations now resumed, attention in Washington has turned to whether Congress and the White House can reach a longer-term funding agreement before the new deadline at the end of January.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), on Thursday, announced discontinuation of the planned 15 per cent duty on imported petroleum products.
NMDPRA’s Director, Public Affairs Department, George Ene-Ita, conveyed the development in a statement while warning the public to shun panic buying.
President Bola Tinubu, on October 29, approved an import tariff on petrol and diesel, a policy expected to raise the landing cost of imported fuel.
The President’s approval was conveyed in a letter signed by his Private Secretary, Damilotun Aderemi, following a proposal submitted by the Executive Chairman of the Federal Inland Revenue Service, Zacch Adedeji.
The proposal sought the application of a 15 per cent duty on the cost, insurance, and freight value of imported petrol and diesel to align import costs with domestic market realities.
Implementation was slated to take effect on November 21, 2025.
The policy aimed to protect and promote local refineries like the Dangote Refinery and modular plants by making imported fuel more expensive.
While intended to boost local production, it is also expected to increase fuel costs, which could lead to higher inflation and transportation prices for consumers.
Experts have argued that the move could translate into higher pump prices for consumers, with some estimating an increase of up to N150 per litre or more.
In an update, however, NMDPRA said the government was no longer considering going ahead with implementing the petrol import duty.
“It should also be noted that the implementation of the 15% ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in View,” the statement read in part.
Meanwhile, the NMDPRA also assured all that there is an adequate supply of petroleum products in the country, within the acceptable national sufficiency threshold, during this peak demand period.
“There is a robust domestic supply of petroleum products (AGO, PMS, LPG, etc) sourced from both local refineries and importation to ensure timely replenishment of stocks at storage depots and retail stations during this period.
“The Authority wishes to use this opportunity to advise against any hoarding, panic buying or non-market reflective escalation of prices of petroleum products.
“The Authority will continue to closely monitor the supply situation and take appropriate regulatory measures to prevent disruption of supply and distribution of petroleum products across the country, especially during this peak demand period.
“While appreciating the continued efforts of all stakeholders in the midstream and downstream value chain in ensuring a smooth and uninterrupted supply and distribution, the public is hereby assured of NMDPRA’s commitment to guarantee energy security,” the statement added.
The Senate has approved President Bola Tinubu’s request to raise N1.15 trillion from the domestic debt market to cover the unfunded portion of the 2025 budget deficit.
The approval followed the adoption of a report by the Senate Committee on Local and Foreign Debt during plenary on Wednesday.
The committee noted that the 2025 Appropriation Act provides for a total expenditure of N59.99 trillion, representing an increase of N5.25 trillion over the N54.74 trillion initially proposed by the Executive.
This expansion created a total budget deficit of N14.10 trillion. Of this, N12.95 trillion had already been approved for borrowing, leaving an unfunded deficit of approximately N1.15 trillion (N1,147,462,863,321).
In a related development, a motion by Senator Abdul Ningi was adopted, directing the Senate Committee on Appropriations to intensify its oversight to ensure that the borrowed funds are properly implemented in the 2025 fiscal year and used strictly for their intended purposes.
President Tinubu had on November 4th requested the approval of the National Assembly for a fresh ₦1.15 trillion borrowing from the domestic debt market to help finance the deficit in the 2025 budget.
The President’s request was conveyed in a letter. According to the letter, the proposed borrowing is intended to bridge the funding gap and ensure full implementation of government programs and projects under the 2025 fiscal plan.
