The Economic and Financial Crimes Commission (EFCC) has arrested Alhaji Sirajo Mohammed Jaja, the accountant-general of Bauchi State for alleged N70billion fraud.

 

LEADERSHIP investigation showed that he was arrested in Abuja on Wednesday, March 19, 2025, alongside Aliyu Abubakar of Jasfad Resources Enterprise, an unlicensed bureau de change (BDC) operator, and Sunusi Ibrahim Sambo, a Point of Sale (PoS) operator. 

 

They were arrested in connection with investigations of money laundering, diversion of public funds and missapropriation to the tune of N70billion.

 

It is noteworthy that the commission was also investigating the governor of Bauchi State, Senator Bala Mohammed, regarding the matter.

 

Already, investigations showed that cash withdrawal of N59 billion had been made through various bank accounts opened and operated by the accountant-general on behalf of the state government.

 

LEADERSHIP learnt that the money was moved to Abubakar and Sambo, who in turn made cash payments to party agents and associates of the governor.

 

Also, it was discovered that the BDC operator Abubakar earlier jumped bail and has now been rearrested.

 

When contacted on the development, EFCC spokesman, Dele Oyewale, confirmed the arrests

Founder of Christ Mercyland Deliverance Ministries in Warri, Delta State, Prophet Jeremiah Omoto Fufeyin, has yet demonstrated his commitment to supporting Nigerian youths, particularly members of the National Youth Service Corps (NYSC) Scheme with a N5million cash gift.

 

Every year, Prophet Fufeyin extends financial assistance to corps members who carry out their mandatory one-year national service in his church ministry, aiding their transition into post-service life. 

 

At a recent ceremony, Prophet Fufeyin gifted N5million to the outgoing NYSC members who served at Mercy Television, the media arm of his ministry. This act of generosity underscored his dedication to empowering young Nigerians and providing them with resources to embark on new ventures after their service year.

 

This philanthropic tradition is not new. In November 2023, Prophet Fufeyin, through the Jeremiah Omoto Fufeyin Foundation, donated ₦5million to outgoing corps members. Earlier that year, he had also provided ₦3million to the previous batch of corps members, reflecting his ongoing commitment to youth empowerment.

 

 

Meanwhile, the beneficiaries have lauded Prophet Fufeyin’s benevolence, describing him as a father figure to Nigerian youths. Many have expressed that his support significantly impacts their post-service plans, enabling them to start new endeavors without undue financial strain.

 

Prophet Fufeyin’s consistent support for NYSC members exemplifies his dedication to fostering growth and development among Nigerian youths, setting a commendable example for others to follow.

A petrol tanker has exploded along the Abuja-Keffi expressway near the Karu bridge in the federal capital territory (FCT).

 

The incident happened on Wednesday evening when workers, returning from the nation’s capital, were heading home.

 

It was unclear at the time of this report if there were casualties from the incident, but FCT fire service personnel arrived at the scene to extinguish the fire.

 

According to Zagazola Makama, a counter-insurgency publication focused on the Lake Chad region, quoted witnesses as saying many vehicles were burnt in the incident as people scrambled for safety.

 

“I saw the tanker coming at high speed, swerving dangerously before it crashed. Within seconds, there was an explosion, and fire spread everywhere,” Zagazola Makama quoted a survivor, who managed to escape from a nearby vehicle, as having said.

 

There has been no official statement from the FCT administration and the fire service about the incident

Last modified on Thursday, 20 March 2025 06:40

Barely 24 hours after he declared a state of emergency in Rivers State, President Bola Tinubu is meeting with the sole administrator he appointed to run the affairs of the state, Vice Admiral Ibok-Étè Ibas.

Ibas arrived at the forecourt of the Presidential Villa at about 12:48 pm (local time).

On Tuesday, Tinubu declared a state of emergency in Rivers State, suspending the state governor, Siminalayi Fubara, his deputy, Ngozi Odu and all elected members of the Rivers State House of Assembly for an initial period of six months.

In a national broadcast, Tinubu cited prolonged political instability, constitutional breaches, and security threats as reasons for the extraordinary measure.

 

The crisis, which had paralysed governance in the oil-rich state, stems from a power struggle between Governor Fubara and his predecessor, Nyesom Wike, now the Minister of the Federal Capital Territory.

As part of the directive, the President also appointed Ibas as the sole administrator to oversee the state’s affairs until normalcy is restored.

Ibas served as Chief of Naval Staff from 2015 to 2021 under former President Muhammadu Buhari.

Tinubu announced, “In the circumstance, having soberly reflected on and evaluated the political situation in Rivers State the governor and deputy governor of Rivers State has failed to make a request to me as President to issue this proclamation as required by section 305(5) of the 1999 Constitution as amended, it has become inevitably compelling for me to invoke the provision of section 305 of the Constitution of the Federal Republic of Nigeria, 1999 as amended, to declare a state of emergency in Rivers State with effect from today, March 18, 2025 and I so do.

“By this declaration, the Governor of Rivers State, Mr Siminalayi Fubara, his deputy, Mrs Ngozi Odu and all elected members of the House of Assembly of Rivers State are hereby suspended for an initial period of six months.

“In the meantime, I hereby nominate Vice Admiral Ibokette Ibas (retd.) as Administrator to take charge of the affairs of the state in the interest of the good people of Rivers State. For the avoidance of doubt, this declaration does not affect the judicial arm of Rivers State, which shall continue to function in accordance with their constitutional mandate.”

Details shortly…

The Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, on Wednesday alleged that the now-suspended Governor of Rivers State, Mr Siminalayi Fubara, tele-guided militants to blow up pipelines in the state.

Fagbemi was accused while defending President Bola Tinubu’s declaration of a state of emergency hours earlier.

He said although the governor was not directly culpable, he failed to dissuade the militants from vandalising the pipeline.

He said, “We are in a democracy. There were what I will call telegraphing of the militants, I will say, by the governor. And the reason I say so is, when he began, he said oh, he will let them know when it was time to act.

 

“Let us say it was false. Did he come out to disown them? The answer is no. And a week later, they swung into action. You saw or witnessed the vandalisation of oil pipelines.”

Fagbemi argued that with the nation almost reliant on crude oil, anyone “touching” the pipeline is not only an enemy of Rivers but Nigeria.

The minister said Fubara and the members of the state House of Assembly had to be suspended as they failed to ensure a conducive atmosphere for governance in the state.

Tinubu had on Tuesday declared a state of emergency in Rivers State, suspending Fubara, his deputy, Ngozi Odu, and all elected members of the Rivers State House of Assembly for an initial period of six months.

In his national broadcast, Tinubu cited prolonged political instability, constitutional breaches, and security threats as reasons for the extraordinary measure.

The crisis, which has paralysed governance in the oil-rich state, stems from a power struggle between Governor Fubara and his predecessor, Nyesom Wike, now the Minister of the Federal Capital Territory.

As part of the directive, the President also appointed Vice Admiral Ibok-Étè Ibas (retd.) as the sole administrator to oversee the state’s affairs until normalcy is restored. Ibas served as Chief of Naval Staff from 2015 to 2021 under former President Muhammadu Buhari.

The Rivers political turmoil escalated after Fubara demolished the state’s House of Assembly complex in December 2023, leading to a prolonged battle over the legitimacy of the legislative arm.

The crisis deepened when 27 lawmakers, loyal to Wike, defected from the Peoples Democratic Party to the All Progressives Congress, prompting legal disputes over their status.

On February 28, 2025, the Supreme Court ruled that the lawmakers remained valid members of the Assembly, faulting the governor’s actions as unconstitutional and tantamount to despotism.

 

The judgment noted that Rivers State had effectively collapsed into one-man rule due to the absence of a functioning legislature.

Despite the ruling, governance remained stalled, with the Assembly and executive failing to cooperate.

As of March 2025, the state’s annual Appropriation Bill had not been passed.

On Monday night, an explosion rocked a section of the Trans Niger Pipeline in Bodo Community in Gonna Local Government Area of Rivers State.

The explosion occurred near the Bodo-Bonny Road under construction.

Another explosion occurred on Tuesday at a pipeline manifold in the Omwawriwa axis of the Ogba-Egbema-Ndoni Local Government Area of the State.

Citing fresh security reports, Tinubu expressed concern over the recent vandalisation of oil pipelines by militants, allegedly acting in support of Fubara.

 Czech National Bank board member Jan Kubicek is "sceptical" about the inclusion of bitcoin among the bank's hefty reserves, wary of legal uncertainties and concerns around volatility of the digital currency.

CNB Governor Ales Michl put bitcoin up for consideration earlier this year, and the bank has begun an analysis looking into broadening the asset classes it holds in its reserves portfolio.

"We will assess different classes of assets. Bitcoin is just one of them," Kubicek said in an interview on Tuesday. "My position is rather sceptical about bitcoin."

He said bitcoin's legal status was one concern, and that direct ownership would mean developing many new processes in accounting or auditing, for example.

Volatility was another worry and assessing market price developments was difficult, he said.

"We cannot be certain that bitcoin's volatility in the coming years will mirror the patterns observed over the past decade because I suspect that, if more institutional investors accept bitcoin as an investment asset, it will start to behave differently from what we have seen so far."

The bank's study on new asset classes could come by October, Kubicek said.

Holdings of international corporate bonds could be explored, he said, as well as the possibility of investing in more targeted equity indices, such as for technology, and property investment funds.

CNB Vice Governor Eva Zamrazilova has said bitcoin is not a suitable asset for reserves, while European Central Bank boss Christine Lagarde has also said Europe's central banks are not the place for it.

The Czech central bank's reserves - at 142.8 billion euros ($155.75 billion) - are around 45% of gross domestic product, and it has diversified holdings in recent years, gradually purchasing gold, and shifting a larger portion of the portfolio into equities.

($1 = 0.9168 euros)

(Reporting by Jason Hovet; Editing by Rachna Uppal)

[(Reuters]

The U.S. State of North Dakota is close to creating a licensing regime for crypto ATMs after its Senate passed a bill that provides a regulatory framework for the industry.

Originally introduced on Jan. 15, House Bill 1447 aims to protect consumers from scams involving crypto ATMs by mandating operators to issue on-screen fraud warnings to users, obtain money transmitter licenses, use blockchain analytics software to detect and combat fraud, as well as submit quarterly reports on kiosk locations and transactions.

Additionally, operators must appoint a compliance officer.

A report by TRM Labs found that crypto ATMs have facilitated at least $160 million in illicit transactions since 2019, CoinDesk previously reported, with law enforcement worldwide viewing them as a major money laundering and scam risk.

FTC data also shows a nearly tenfold rise in bitcoin ATM scam losses since 2020.

In the United Kingdom, the Financial Conduct Authority, the country's markets regulator, has been increasing scrutiny on the sector with crackdowns on unregistered operators.

In 2024, the FCA charged Olumide Osunkoya for running illegal crypto ATMs that processed $3.4 million, marking the first such prosecution in the country. Osunkoya was recently sentenced to four years for his role in the illegal crypto ATM network, and was also convicted for forgery, using false identity documents, and possessing criminal property.

With rising fraud and regulatory scrutiny, the number of crypto ATMs are not growing despite BTC's price growth in 2024. Market data from CoinATMRadar shows that the number of crypto ATMs in the U.S. has been roughly flat since 2022.

[CoinDesk]

The Peoples Democratic Party Governors’ Forum (PDPGF) has vowed to challenge the suspension of Rivers State Governor, Siminalayi Fubara, and other elected officials of the state in court. 

On Tuesday, President Bola Tinubu declared a State of Emergency in Rivers, suspending the governor, his deputy and members of the State House of Assembly.

In a statement signed by its chairman, Governor Bala Mohammed of Bauchi State, the PDP governors asked the President to accept that he had made a mistake and reverse the decision.

The forum accused the President of bias, noting his failure to acknowledge the role played by his Minister of the Federal Capital Territory (FCT), Nyesom Wike, in fueling the political crisis in Rivers.

 

Part of the statement said, “We stand in solidarity with Governor Siminalayi Fubara and the good people of Rivers State at this very difficult and trying moment of the state’s political history. There is no other time that our philosophy of ‘TOUCH ONE TOUCH ALL’ is more apt than now.

“He who goes to the court of equity must go with clean hands. Mr. President , your silence on the active role played by your Minister of the FCT in the Rivers impasse is golden and enabling. He has become a law unto himself because he was playing out your script. Now we know. This is totally unstatemanly, biased, and divisive.

“We state categorically that this unwarranted but premeditated attack on Rivers State and the Peoples Democratic Party and other opposition parties is today, the greatest threat to democracy in our dear country.

“Nigeria and it is an ill wind that will blow no one any good. It is a dangerous course of action that will not only endanger our hard won democracy, but will exacerbate the crises in the nation, deepen mistrust, elevate security threats, destroy the economy, and our national cohesion and stability.”

The Governors also said ” The Forum completely aligns itself with the position of the NBA and promises to subject Section 305 (3) of the Constitution to judicial interpretation. This authoritarian shenanigan is unacceptable and cannot stand.

“Mr President is therefore called upon to listen to wise counsel and the voice of reason, as well as accept that he made grevious mistakes and acted in haste, and reverse this atrocious and retrograde decision before it is too late.”

[DailyTrust]

The Federal Government, on Wednesday, said President Bola Tinubu’s declaration of a state of emergency in River State was timely and meant to avert an implosion in the state.

The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, stated this while briefing State House Correspondents at the Aso Rock Villa, Abuja.

“We have about two years into the administration in the state.

“Now, when do you think he (President Tinubu) should have come in? Is it when everything has been destroyed? I don’t think so.

 

“I think the President has acted timeously. He has given the opportunity to all the parties involved to make amends. Before then, he had to assemble them, and he had tried to mediate,” he stated.

Tinubu had on Tuesday declared a state of emergency in Rivers State, suspending Governor Siminalayi Fubara, his deputy, Ngozi Odu, and all elected members of the Rivers State House of Assembly for an initial period of six months.

 

In a national broadcast, Tinubu cited prolonged political instability, constitutional breaches, and security threats as reasons for the extraordinary measure.

The crisis, which had paralysed governance in the oil-rich state, stems from a power struggle between Governor Fubara and his predecessor, Nyesom Wike, now the Minister of the Federal Capital Territory.

As part of the directive, the President also appointed Vice Admiral Ibok-Étè Ibas (retd.) as the sole administrator to oversee the state’s affairs until normalcy is restored. Ibas served as Chief of Naval Staff from 2015 to 2021 under former President Muhammadu Buhari.

Tinubu announced, “In the circumstance, having soberly reflected on and evaluated the political situation in Rivers State, the Governor and Deputy Governor of Rivers State has failed to make a request to me as President to issue this proclamation as required by section 305(5) of the 1999 Constitution as amended, it has become inevitably compelling for me to invoke the provision of section 305 of the Constitution of the Federal Republic of Nigeria, 1999 as amended, to declare a state of emergency in Rivers State with effect from today, March 18, 2025 and I so do.

“By this declaration, the Governor of Rivers State, Mr Siminalayi Fubara, his deputy, Mrs Ngozi Odu and all elected members of the House of Assembly of Rivers State are hereby suspended for an initial period of six months.

“In the meantime, I hereby nominate Vice Admiral Ibokette Ibas (retd.) as Administrator to take charge of the affairs of the state in the interest of the good people of Rivers State. For the avoidance of doubt, this declaration does not affect the judicial arm of Rivers State, which shall continue to function in accordance with their constitutional mandate.”

[Punch]

 

The senate has set up an ad hoc committee to investigate Cameroon’s alleged encroachment on Nigeria’s territory.

Senate President Godswill Akpabio announced the committee’s composition during plenary on Tuesday after most senators supported it through voice votes.

The committee is expected to report back to the senate within two months with recommendations.

The committee is to be headed by Jimoh Ibrahim, senator representing Ondo south. Members are Seriake Dickson, Bayelsa west senator, and Ipalibo Banigo, senator representing Rivers west.

 

Others are Adeniyi Adegbonmire, senator representing Ondo central; Shehu Kaka, senator representing Borno central; Agom Jarigbe, Cross River central senator; and Ekong Samson, senator representing Akwa Ibom south.

Aniekan Bassey, senator representing Akwa Ibom north-west, who sponsored the motion, is also a member of the committee.

The motion was titled: ‘Illegal annexation of Nigerian mangrove islands, waters, and its crude oil by the republic of Cameroon’.

 

Bassey, in his motion brought under orders 41 and 51 of senate standing rules, said the areas annexed were not part of the territory ceded to Cameroon.

He said the encroachment has led to the loss of over 2,560 oil wells and gas revenues. 

“It is an affront on Nigeria’s territorial integrity and unlawful exploitation of Nigeria’s economic resources,” he said.

“The illegal occupation of these villages and waters by Cameroon contravenes the ICJ ruling, the 1913 Anglo-German treaties, and sections of the Nigerian Constitution.

 

“This is a direct assault on Nigeria’s territorial integrity and an unlawful exploitation of our economic resources.”

Contributing to the motion, Ibrahim said Nigeria must report the issue to the United Nations.

“The senate cannot keep quiet when there’s a threat to the sovereignty of our country,” he said.

“There is a violation of our territorial rights, and this can cause environmental disaster and reduce national revenue.”

 

Victor Umeh, senator representing Anambra central, said Nigeria should enforce the International Court of Justice (ICJ) ruling on the mangrove islands.

He added that Nigeria cannot be a beneficiary of the judgment and not enforce it.

 

“Let us act fast and recover our territory with over 2,000 oil wells,” he said.

Other lawmakers who spoke on the motion were Barau Jibrin, deputy senate president; Abdul Ningi, Bauchi central senator; and Asuquo Ekpenyong, senator representing Cross River south.

 

The committee is expected to engage with key stakeholders, including the National Boundary Commission (NBC), the ministry of foreign affairs, and security agencies.

[TheCable]
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