News
EFCC Puts More Govs Under Watch over Looted Funds
The Chairman of the Economic and Financial Crimes Commission, Abdulrasheed Bawa, has said the number of governors being monitored by the agency for possible money laundering arising from the redesign of the naira is rising.
Speaking to correspondents after a meeting with the President, Major General Muhammadu Buhari (retd) at the Presidential Villa, Abuja, on Thursday, he, however, declined to give the exact number of state chief executives involved.
The anti-graft agency had previously revealed that three governors were being watched on the suspicion that they might attempt to launder stashed cash in their possession which they might not be able to lodge in the bank before the deadline by the Central Bank of Nigeria to return old notes for redesign.
Bawa commended the apex bank’s initiative to redesign some naira denominations, describing it as a significant process in the country’s fight against financial crimes and other forms of corruption.
He said, “On the issue of the governors that we are monitoring, in fact, the numbers have even increased. We are monitoring everything; Nigerians are helping. Well, I don’t want to give you the figures so that you will not go and speculate whether they are in the north or in the south, but it’s important that Nigerians key into it.”
Commending the redesign initiative and how significant the amount of cash out of CBN’s control is, Bawa said, “Oh, it is, it is very significant. You know that there is an obligation of money laundering law that we have, in which an individual is expected to carry out a transaction that is above N5m through the financial institution, there is also the threshold in which a corporate entity is expected to carry out transactions that is above N10m in the financial sector and why is it so?
“It is so because financial institutions are expected to make currency transaction reports, and suspicious transaction reports to relevant agencies. With that, institutions like us will be able to monitor which funds are legitimate and which ones are not legitimate.
“Here we are now, in which 85% of our currency is out in circulation and people are carrying out transactions above the thresholds as provided by this provision over and above that we will not be able to monitor; we don’t know what they’re doing.
“These are the transactions that are creating and giving avenues to other forms of crime that we’re seeing in this country; payment of ransom, banditry, and all of that, payment of bribery to political actors, and the arrest.
“So, it is a good thing for all of us, for the entire country and that is why we are calling on Nigerians to embrace the policy.”
The EFCC boss urged politicians to go about their campaigns without using illegitimate funds.
Speaking on the Eagle Eye, an app recently introduced by the commission, he said the initiative was to ease the reporting of crime.
“Let me use this opportunity to remind Nigerians that Eagle Eye is very important for those that are reporting the holders of these currencies that we know that are out there,” he added.
The Punch
Nigerian Afrobeat music singer, David Adeleke aka Davido, has commented on his uncle, Governor Ademola Adeleke, after he resigned from the Peoples’ Democratic Party (PDP), posting “Jeje…” on his X page.
Adeleke, who represented Osun West as Senator and currently serves as the governor of the State, announced his resignation in a letter dated November 4, 2025, citing the party’s national leadership crisis.
The letter titled ‘Resignation of my membership of the Peoples’ Democratic Party (PDP)’ read: “Due to the current crisis of the national leadership of the Peoples’ Democratic Party (PDP), I hereby resign my Membership of the Peoples’ Democratic Party with immediate effect.”
He expressed gratitude for the opportunities afforded to him by the PDP.
“I thank the Peoples’ Democratic Party for the opportunities given to me for my elections as a Senator (Represented Osun West) and as Governor of Osun State under the Peoples’ Democratic Party,” he added.
The resignation has sparked reactions, with Davido’s post sparking speculation about the implications for the party.
By Eric Elezuo
The governor of Osun State, Senator Ademola Adeleke, has announced his resignation from the Peoples Democratic Party (PDP).
A letter signed by the governor himself and dated November 4, 2025 revealed that the governor dumped the party about a month before coming out public with the announcement.
Confirming the resignation via a statement, the governor’s Chief Press Secretary, Mallam Olawale Rasheed, wrote;
“Governor Ademola Adeleke of Osun State has resigned his membership of the People’s Democratic Party (PDP) since November 4th, 2025.
“The letter was addressed to the PDP Chairman for ward 2, Sagba Abogunde of
Ede North Local government, Osun State.
“The letter reads as follows: ‘Due to the current crisis within the national leadership of the Peoples Democratic Party (PDP), I hereby resign my membership of the PDP with immediate effect.
‘I thank the Peoples Democratic Party for the opportunities given to me for my elections as a Senator (Represented Osun West) and as Governor of Osun State under the Peoples Democratic Party”, the governor noted in the letter personally signed by him.’
Neither the letter nor the spokesperson’s statement suggested the governor’s next port of call even as political parties in the state are in the season of primaries to elect flag bearers for the 2026 governorship election in the state.
By Eric Elezuo
The Minister of Defence, Alhaji Abubakar Mohammed Badaru, and a two-term former governor of Jigawa State, has resigned his appointment. This is shortly after the former Chief of Defence Staff, General Chris Musa (retd) visited Aso Rock Villa, and had a closed door meeting with President Bola Tinubu.
The resignation, which is with immediate effect, according to statement credited to the Special Adviser to the President on Information and Strategy, Bayo Onanuga, is contained in a letter dated December 1, 2025, and addressed to President Bola Tinubu. Badaru, who is 63 years, quoted health grounds as reason for quitting his job.
The statement added that “President Tinubu has accepted the resignation and thanked Abubakar for his services to the nation.
“President Tinubu will likely inform the Senate of Badaru’s successor later this week.
His resignation comes amid President Tinubu’s declaration of a national security emergency, with plans to elaborate on its scope in due course.
He served as defence minister for 27 months since August 21, 2023.
