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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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Battle Against Corruption Is Like Fighting Colombian Drug Cartels, Says Kano Anti-Corruption Tzar

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The fight against corruption in Nigeria is as dangerous as fighting armed Colombian drug cartels, former Chairman of Kano State Public Complaints and Anti-Corruption Commission (PCACC), Muhyi Magaji Rimin Gado, has said.

The Medellín Cartel led by Pablo Escobar and the Cali Cartel dominated cocaine trafficking, leading Colombia to vast illicit wealth for the few whose crimes promoted corruption, violence, mass public revenge, and prolonged bloody gunfights with the authorities. The PCACC was established in April 2005 to fight corruption in Kano State.

Mr. Magaji also warned that the increase in violence and banditry in the North is partly linked to the naked abuse and stealing of public funds by corrupt officials whose self-serving policies create a stagnant pool of poverty and human misery from which criminals find many potential recruits.

He said it was when he started investigating corruption petitions, doing his statutory duties, that he discovered the suspect companies were linked to his former Kano State Governor, Abdullahi Ganduje, discovering that a lot of Public-Private Partnership Initiatives were actually linked to the former Governor. He said he also discovered billions of illicit funds relating to the state’s Internally Generated Revenue (IGR), especially concerning fraudulent land rents.

The anti-corruption crusader said his experience while investigating an avalanche of corruption cases in Kano indicated that corrupt politicians are like cancerous ailments that should be removed through a painful but necessary surgical operation before Nigeria can reclaim her pride in the comity of nations.

He said Nigerians should explore democratic opportunities to the brim by casting their votes against a league of corrupt elites that have sold the birthrights of the people.

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He said his decision to investigate the looting of billions of public funds in Kano State under former Governor Abdullahi Ganduje spurred ceaseless threats to his life and that of his family, culminating in his arrest last week Friday by tens of armed security guards who drove him from Kano to Abuja in the night where he was locked up. He said for 17 hours he and his family were subjected to harrowing experiences. He said the armed men bundled him into a vehicle where he was sandwiched between armed policemen who drove in the night from Kano to Abuja in order to gag him. He said if armed bandits had attacked the convoy, there was only a slim chance that any of them would escape.

“The cases I started investigating in Kano involved billions of public funds diverted by public officials. They are desperate to kill in order to sit on stolen funds. They are as dangerous as drug cartels in Colombia. Fighting them is like fighting drug lords.”

He said corruption cannot be fought effectively when law enforcement agents are compromised by the same corrupt politicians who have no respect for accountability.

Rimin Gado said some policemen are currently being used against him by powerful but stupendously corrupt politicians who feed on the misery of the toiling masses. He said he was deeply concerned that the Police initiated criminal investigation into a judicial process, duly initiated under Section 211 of the Nigerian Constitution, and that it is prejudicial for the police to hunt and malign someone who has filed corruption charges on behalf of the State against politicians that consistently ruin the frontiers of democracy and human prosperity.

“I was given fiat by the Attorney General to prosecute allegations of offenses against the laws of Kano State. Why arrest me for doing what I have a legal duty to do? Why not arrest the State if they can?

“The police have no legal or moral reasons to enquire about what is already before the Court of Law, especially a criminal matter which the court had already taken cognizance of,” he said.

He spoke as a Keynote Speaker on the topic Youth as Catalyst of Integrity: Building a Corruption-Free Future for Nigeria, at the Public Presentation of the 19th Edition of the Compendium on 100 Profile Corruption Cases in Nigeria held in Lagos on Tuesday. The event was organised by the Human and Environmental Development Agenda (HEDA Resource Centre) in partnership with local and international groups to mark this year’s International Anti-Corruption Day celebration. The theme of the conference was Uniting with Youth Against Corruption: Shaping Tomorrow’s Integrity.

Rimin Gado said from his experience in Kano, corrupt politicians are as vicious as the world’s most violent drug lords who are prepared to kill and burn the country down rather than face justice or give up their crimes. He said prosperity and development in Nigeria would remain stunted as long as corrupt actors dominate the political economy.

 

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BIKOBA Set for 41st Annual General Meeting in Birnin-Kudu

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Arrangements have been completed for the successful conduct of the 41st Annual General Meeting of Birnin-Kudu Old Boys Association (BIKOBA), the umbrella body of the Old Students of the famous Government Unity College, Birnin-Kudu (formerly Government College, Birnin-Kudu), Jigawa State.

The event, scheduled to take place on Saturday, the 13th of December, 2025, at 9:00 a.m. in the Assembly Hall of the College, will feature a public lecture to be delivered by Alhassan Mohammed, an Assistant Director at the Central Bank of Nigeria.

The lecture, titled “Enhancing Career Development Through Information Technology”, will focus on the importance of acquiring information technology skills, and the appropriate and effective use of its tools for efficient career building in the digital age.

Pharmacist Hashim Ubale Yusuf will chair the occasion, with the Governor of Jigawa State, Malam Umar Namadi, FCA, as Special Guest of Honour, while former Governors of Kano and Jigawa States, Dr. Abdullahi Umar Ganduje (CON) and Alhaji Sule Lamido (CON), will serve as Guests of Honour, respectively.

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Additionally, prominent members of BIKOBA, such as the richest man in Africa and President of Dangote Group of Companies, Alhaji Aliko Dangote, Senator Mustafa Habeeb representing Jigawa Central Senatorial District in the National Assembly, and many distinguished personalities from all walks of life produced by the College, are expected to grace the occasion.

His Highness, the 15th Emir of Kano, Alhaji Aminu Ado Bayero, CFR, JP, who is also an alumnus of the College, will be the Royal Father of the Day, while the Chief Host of the event will be the National President of BIKOBA, Alhaji Ja’afar Usman Muhammad (Turakin Gaya).

In a statement, the National Publicity Secretary of BIKOBA, Mahmud Ibrahim Kwari, said major highlights of the AGM include awards presentation to deserving distinguished personalities, as well as the ratification and approval of an audited account report containing financial transactions of the Association in the outgoing year, by the General Assembly.

Government officials, members of traditional institutions, community leaders, officials of the Parent Teachers Association (PTA), School-Based Management Committee (SBMC), as well as members and friends of the BIKOBA family, are expected to fully attend the historic annual event.

 

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Senate Summons Aviation Minister, Keyamo, Over Hike in Flight Ticket Prices

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By Yusuf Danjuma Yunusa

The Senate on Tuesday summoned the Minister of Aviation and Aerospace Development, Festus Keyamo, along with heads of the Federal Airports Authority of Nigeria (FAAN) and the Nigeria Civil Aviation Authority (NCAA), over the sudden and steep increase in domestic flight ticket prices.

The minister and heads of the agencies are expected to appear before lawmakers in a closed-door session on a date to be announced.

The resolution followed a motion sponsored by the Chairman of the Senate Committee on Aviation, Buhari Abdulfatai.

While presenting his motion, Mr Abdulfatai lamented that airfares across Nigerian airlines had risen sharply due to the festive season, a development he said would force many Nigerians to forgo travel because of insecurity on the roads.

The senator, who represents Oyo North Senatorial District, said he had previously engaged airline operators on the issue, but the high fares persisted. He therefore urged the Senate to empower its aviation committee to intervene.

One-way airfares on some domestic routes have risen by as much as 150 per cent, with tickets costing at least N300,000. Before the festive period, domestic flight tickets averaged around N120,000, but prices have reportedly surged to as high as N400,000.

Given the worsening insecurity on major highways, many Nigerians prefer to travel by air, but the soaring cost of tickets is a major hindrance.

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Contributing to the debate, Adamu Aliero (APC, Kebbi Central), described the fare hike as unacceptable in a country where the minimum wage is N70,000. He noted that a civil servant would have to save for up to six months to afford a one-way flight.

“The synopsis of the motion was given that the minimum wage for Nigeria is 70,000 Naira. It means a civil servant will have to save five months’ salary or even six months’ salary before they could afford a one-way ticket to Lagos,” he said.

Mr Aliero, a former minister of the Federal Capital Territory (FCT), questioned the rationale behind the sudden increase in air fares and insisted that the Senate must summon all stakeholders to explain the hike.

“Mr President, this is unaffordable, and there has not been a corresponding increase in aviation fares. There has not been a corresponding increase in the airport charges from either FAN, NCAA or Nigerian Civil Aviation Authority. So we need to summon all the stakeholders and question them on why this hike is announced.

“And not only that, Mr. President, we need to halt this increase in order to save Nigerians from exploitation. Mr. President, it is normal for airlines at the end of the year to increase fares, but not as it is announced today. An increase of 10 to 15 per cent is understandable, but not an increase of over 200 per cent. So if we do that, honestly speaking, Mr. President, we are allowing exploitation of Nigerians,” he added.

Peter Nwebonyi (APC, Ebonyi North) also condemned the sharp increase, saying he attempted to book a flight from Abuja to Enugu and was shocked to discover that Air Peace Airline was charging N500,000 and Ibom Air, N460,000.

“Just this morning, I called my personal assistant to get a ticket for me for the 13th of December from Abuja to Enugu, and shockingly, Mr. President, the cost for a one-way ticket from Abuja to Enugu is N500,000 for Air Peace and N460,000 for Ibom Air. Mr. President, this is unheard of. This is over a 400 per cent increment at a go. We never had it this way,” he said.

Adeola Olamilekan (APC, Ogun West) called for a comprehensive engagement with all aviation stakeholders to find a lasting solution to the problem.

In his remarks, the Senate President, Godswill Akpabio, accused airlines of exploiting Nigerians.

“It is very clear that Nigerians are being exploited and people are taking advantage of Nigerians,” he said.

Mr Akpabio subsequently put the motion to a voice vote, and it received overwhelming support.

After taking the vote, the senate president said the planned meeting with the aviation minister and relevant agencies was necessary to address the abysmal fare increase and to prevent disruptions to travel during the Christmas period.

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