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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.

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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Tinubu Rejects Bill for Federal University of Education in Numan

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President Bola Tinubu has declined to give assent to the bill establishing the Federal University of Education located in Numan, Adamawa State.

The President gave reasons for his decision in a letter addressed to the President of the Senate, Godswill Akpabio on Tuesday in Abuja.

Reports indicate that in the letter which was read during plenary, President Tinubu said his decision stems from unresolved land discrepancies and constitutional issues regarding disposal rights.

Akpabio however assured that other minor concerns raised would be addressed in due course.

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Nigeria Police Demands Retraction and Apology from Amnesty International Over Publication

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The Nigeria Police Force (NPF) has demanded an immediate retraction and public apology from Amnesty International regarding a publication titled “Bloody August: Nigeria Government’s Violent Crackdown on End Bad Governance Protests.” The demand was formally communicated via a letter dated January 6, 2025.

The publication in question, which Amnesty International released, includes numerous unsubstantiated claims that accuse the Nigeria Police of human rights violations, police brutality, and excessive violence during the August 2024 End Bad Governance protests. “Upon careful review and investigation, the NPF categorically rejects these baseless allegations, affirming that the claims are entirely false and without foundation,” stated the NPF.

The NPF emphasized that during the protests, the Police acted with restraint and professionalism, even in the face of provocation and violent attacks. “The Police adhered to global best practices and used minimal force where necessary. Evidence, including national media coverage, demonstrates the Police’s efforts to maintain law and order while safeguarding peaceful protesters. Criminal elements attempting to exploit the protests were arrested and dealt with according to law,” the NPF asserted.

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The Nigeria Police Force strongly believes that Amnesty International’s misleading publication undermines the trust and confidence it has worked diligently to build with Nigerian citizens and residents. “The Force further underscores that such false claims harm the reputation of the organization and demoralize its officers who risk their lives to protect the public,” emphasized ACP Olumuyiwa Adejobi, Force Public Relations Officer.

In light of these falsehoods, the NPF has demanded that Amnesty International issue a formal retraction and public apology within seven days. “Failure to comply will prompt the NPF to consider legal actions to protect its reputation,” warned ACP Olumuyiwa Adejobi.

The Nigeria Police Force remains committed to its duty of safeguarding the lives and property of Nigerians, upholding the law, and earning the trust of the people it serves. “The Nigeria Police Force remains committed to its duty of safeguarding the lives and property of Nigerians, upholding the law, and earning the trust of the people it serves,” reiterated ACP Olumuyiwa Adejobi.

 

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Kano Foreign Medical Scholarship Students Lament Non-Receipt of Certificates Five Years After Graduation

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Two former medical students from Kano State, who were sponsored to study at October 6 University in Egypt, have expressed their frustration over the non-receipt of their certificates five years after completing their degrees. Tajuddin Isah Ibrahim and Muzammil Muhammad, among the 40 students sponsored by the administration of His Excellency Engr Rabiu Musa Kwankwaso in 2013, have been unable to practice medicine due to the withheld certificates.

Tajuddin Isah Ibrahim shared their plight, stating, “My name is Tajuddin Isah Ibrahim, and I am among the 40 students sponsored by the administration of His Excellency Engr Rabiu Musa Kwankwaso to study at October 6 University in Egypt in the year 2013. However, I and my colleague Muzammil Muhammad are yet to collect our certificates after completing our medicine degree in the year 2019.”

The students inquired about the reason for withholding their certificates and were informed by the school that the full tuition fees for the two of them had not been received. “The school stated that they have not received the full tuition fees for the two of us, while the rest of our colleagues have been paid their full tuition fees and have collected their certificates. This makes us unable to practice, and we’ve been left stranded since the completion of our studies,” Tajuddin explained.

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Despite their efforts to urge the previous government of Dr. Abdullahi Umar Ganduje to pay the remaining fees, their attempts were unsuccessful. “We did everything possible to urge the previous government of Dr. Abdullahi Umar Ganduje to pay the remaining fees, but it failed,” Tajuddin lamented.

The students are now appealing to the current administration of His Excellency Alhaji Abba Kabir Yusuf to address their situation and facilitate the collection of their certificates. “We are appealing to this Government of His Excellency Alhaji Abba Kabir Yusuf to please look into our plight and devise a means to collect our certificates. The knowledge and skills acquired will be of significant value to the health sector of Kano State,” Tajuddin stated.

They also expressed their appreciation for Governor Abba Kabir Yusuf’s efforts in uplifting education and healthcare in Kano State. “We also appreciate His Excellency Governor Abba Kabir Yusuf for his effort in uplifting education and healthcare in Kano State,” Tajuddin added.

Despite their continued efforts to resolve the issue, the students have not attained any success and are now considering retaking the JAMB exam to start afresh. “We did everything possible to see our plight resolved by the Government of His Excellency Alhaji Abba Kabir Yusuf without attaining any success up to this point that we finally start to think about retaking the JAMB exam and starting afresh,” Tajuddin concluded.

 

 

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