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Cryptocurrency Portrays Greater Danger To World Economy, Says EFCC

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Chairman, Economic and Financial Crimes Commission, EFCC, Abdulrasheed Bawa, has said growth of cryptocurrencies, such as Bitcon portrays a far greater danger to the world economy.

The EFCC boss stated this while delivering a keynote address on Monday at the 38th Cambridge International Symposium on Economic Crime, themed, “Economic Crime-Who pays and who should pay?”, organized by the Center for International Documentation on Organized and Economic Crime (CIDOEC), Jesus College, University of Cambridge,, United Kingdom.

Describing cryptocurrencies as the new typologies of economic crimes, Bawa said criminals now elect to transact or receive illegal monies such as ransom money in digital currency, noting that Bitcoin and Ethereum were the most commonly used medium of these exchanges.

He therefore, advocated collective and collaborative approach by authorities around the world in dealing with the challenges of financial crimes which, he noted, is a global scourge as no nation is spared its virulence.

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According to him, economic crimes which are largely illegal acts committed for private gain, “affect the vital structures of global economies, causing significant damage to the Global Financial System and depriving developing nations of the needed resources for sustainable development”.

He noted that developed countries are not immune from the scourge, which has “magnified with the proliferation of Cyber-crimes which threatens the stability of Global Financial Institutions.”

He commended the choice of theme which he said offers a platform to interrogate the challenges of economic crimes.

“As the victims of crime continue to suffer globally from the effects of financial crimes, either directly or indirectly as part of a social system, the determination of who pays or who should pay becomes a critical measure of the criminal justice system in place,” he said.

He underlined the imperatives of an impartial judiciary in ensuring that “the perpetrators of acts and not the victims pay for their crimes.”

While highlighting some of the transparency and accountability achievements of the Nigerian Government under the leadership of President Muhammadu Buhari including enactment and amendment of relevant laws to enhance public accountability and reforms such as Treasury Single Account and the Whistle Blower Policy among others;  Bawa pointed out that the EFCC, as the rallying point in the fight against economic crimes in Nigeria, has recorded important milestones in investigations, prosecutions and assets recovery.

In his words, “Since its establishment in 2003, the Commission has recorded no less tha  3,500 convictions and recovered assets of significant value including properties in Nigeria, the UK, USA, and the UAE. All these have measurably contributed to the national efforts against economic crimes in Nigeria”.

The EFCC boss concluded by challenging participants to come up with practical solutions to curb the international threat of economic crimes.

Chairman of the Symposium, Mr. Saul Froomkin, thanked the EFCC boss for his insightful presentation, and the support received from Nigeria in organizing the event.

Participants at the Symposium were drawn from law enforcement and security agencies, accountability institutions and select stakeholders from across the World.

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Governor Abba Kabir Yusuf Named Leadership Governor of the Year 2024 for Education

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Kano State Governor, Alhaji Abba Kabir Yusuf, has been named Leadership Governor of the Year 2024 in recognition of his outstanding contributions to the education sector.

The award was presented during the 17th Leadership Newspaper Awards held at the Banquet Hall of the Presidential Villa, Abuja. The event celebrated notable Nigerians who have made significant impacts in various fields, including Alhaji Aliko Dangote, who was named Person of the Year 2024, and the Governor of Jigawa State, who also received a Governor of the Year award.

In a statement issued by the Governor’s spokesperson, Sanusi Bature Dawakin Tofa, the recognition was described as a validation of Governor Yusuf’s bold reforms in education, which have repositioned the sector in Kano State after years of neglect.

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Governor Yusuf was particularly commended for allocating 31% of the state’s annual budget to education, surpassing the UNESCO benchmark, and for declaring a state of emergency on the sector.

His administration’s initiatives include massive school renovations, provision of learning materials, recruitment of teachers, and the launch of a comprehensive Education Recovery Plan.

Speaking after receiving the award, Governor Yusuf expressed gratitude to the organizers, describing the honor as unexpected and highly credible.

“We never imagined that our efforts would receive such national recognition. We did not pay for this award, we did not lobby for it — we were simply recognized for what we have achieved in Kano,” the Governor said.

He dedicated the award to vulnerable children across the state and reaffirmed his administration’s commitment to deepening reforms in education.

“This recognition has given us more encouragement to keep pushing for excellence. I thank the Leadership Newspaper management and the media for their continued support,” he added.

The event also marked the 20th anniversary of Leadership Newspaper, celebrating two decades of impactful journalism.

 

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AB Mahmoud, Kurawa urge devolution of powers for effective Justice system

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AB Mahmud SAN

 

Former President of Nigeria Bar Association (NBA) AB Mahmoud, Senior has advocated restructuring of institutions in the administration of justice system, essentially to devote powers to state government.

AB Mahmoud, senior advocate of Nigeria, who believed the concentration of judicial powers, “where all matters of interest are anchored in Abuja” is not justifiable in a complex system the country operates.

“There is need for restructuring of institutions to devote powers to state government. The Federal government can handle issues of terrorism, and other external burden. But there is no reason or justification where all matters of investigation are anchored from Abuja.

“If there is break down of law and order in a state, the government of that state should be allowed and held responsible to manage, because the Governor is elected by the people of the state”. AB Mahmoud said.

Mahmoud spoke while delivering papers on Challenges of Effective Administration of Criminal Justice System at a three day capacity building workshop for prosecutors in Kano, raised concerns on critical impediments in the administration of criminal justice system in Kano.

The senior lawyer cited the roles of security agencies entrusted with investigative powers, prosecutors and the court, held that only a symbiotic collaboration between the institutions can guarantee effectively administration of justice system in the country.

He however regretted the overbearing influence of police who are primarily entrusted to conduct case investigation and now taking over prosecution powers from the Ministry of Justice due to power overload at the central government. Mahmoud urged the police to rather focus energy on investigative skill through of forensic capacity building.

Besides, the senior lawyer challenged the prosecutors to remain firm on the bricks of ethics standard and professionalism while striving to rise above selfish interest of politicians in public prosecution.

Earlier,Governor Abba Kabir Yusuf, represented by Secretary to the State Government, Alh. Umar Faruq Ibrahim reaffirmed his administration’s commitment to strengthening the administration of criminal justice in the state.

Governor Yusuf who declared the workshop open, described the capacity building sessions as “another significant step in our collective resolve and commitment to entrench an effective criminal justice administration process in our dear state.”

He emphasized the vital role of prosecutors in upholding justice, stating, “You are not just case managers, but guardians of fairness and protectors of public trust. Your work has a direct impact on how justice is delivered and how society functions.”

Governor Yusuf noted that the training was timely, aiming to sharpen the skills of prosecutors, deepen their knowledge, and equip them with modern tools and ethical frameworks aligned with global best practices. He commended the organizers Kurawa, Husseini & associates in collaboration with Kano state ministry of Justice for their initiative.

On his part, Attorney General and Commissioner for Justice, Barrister Haruna Isa Dederi, highlighted the importance of capacity building for prosecutors in ensuring efficiency and accountability in the justice sector.

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Presidency Defends Tinubu’s Alleged Lopsided Appointments

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The Nigerian Presidency has reaffirmed President Bola Ahmed Tinubu’s commitment to equity, competence, and national unity in his federal appointments, addressing concerns over alleged regional imbalances. The Presidency emphasized that Tinubu’s decisions are guided by inclusivity and effective governance, rather than tribal or religious biases.

In a statement shared via his official X handle, the Special Adviser to the President on Media and Public Communications, Mr. Sunday Dare, clarified the distribution of appointments made by President Tinubu. According to Dare, the President has so far appointed 71 individuals from the North and 63 from the South into major federal positions, reflecting a deliberate effort to ensure fairness across Nigeria’s regions.

Breaking down the southern appointments, Dare revealed that the South-West received 26 slots, followed by the South-South with 21 appointees, and the South-East with 16. He noted that the North received slightly more appointments than the South, but stressed that the distribution remains balanced and inclusive.

Amid ongoing debates over perceived regional favoritism, Dare pointed to Tinubu’s tenure as Governor of Lagos State as evidence of his detribalized approach to governance. “During his time as Governor, Tinubu’s administration included individuals from across the country, regardless of their origin,” Dare stated.

He further urged Nigerians to avoid premature conclusions about the President’s appointments. “People tend to isolate new appointments so far made by the President and examine them with a tribal lens,” Dare said. “But it is too early to conclude that appointments are lopsided. Tinubu has barely completed two years in office and there are still plenty more appointments coming.”

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Dare reiterated that President Tinubu remains committed to fostering inclusivity and collective progress. “As President, Bola Ahmed Tinubu remains the same man who is not blinded by the cloak of tribe or religion,” he added.

The Presidency’s defense comes amid heightened scrutiny of federal appointments, with critics alleging that certain regions have been marginalized. However, Dare’s statement seeks to reassure Nigerians that Tinubu’s administration is focused on national unity and equitable representation.

 

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