EFCC Chairman reveals sector under searchlight in curbing corruption in Nigeria
EFCC Chairman reveals sector under searchlight in curbing corruption in Nigeria
The Economic and Financial Crimes Commission (EFCC) says it will carry out a thorough investigation into the real estate sector of Nigeria’s economy as part of concerted effort to curb corruption.
Mr Ola Olukoyede, Executive Chairman of EFCC, made this known at an event organised by the Law Corridor Firm on Wednesday in Abuja.
Olukoyede in his keynote address on “Policy Dialogue on the Critical Issues Affecting Nigeria’s Real Estate Ecosystem, said the investigations will begin in the Federal Capital Territory.
He added that the agency would collaborate with other sectors and stakeholders in the real estate sector to ensure that the investigations are thorough.
“This action is to determine real owners of lands across the FCT and possibly identify whether the estates are products of illicit transactions.
“Some of the estates in Abuja have been abandoned because they were being funded by some civil servants through stolen public funds and having either lost their jobs or had the source of illicit funds blocked’’.
He pleaded with Nigerians to collaborate with the EFCC as is being done by the Law Corridor Firm, to fish out the criminals using real estate sector to launder stolen public funds.
He noted that preliminary investigations had already revealed that some business ventures, including real estate, were established to scam innocent and unsuspecting Nigerians.
He promised that such businesses would be brought down at the end of the investigations and assured that the anti-corruption agency will throw its full weight behind genuine businesses.
“Efforts are already on with bankers in the country to reduce lending rates for companies to survive in the country.
“Bankers will be encouraged to opt for single digit lending rates for genuine businesses to create room for employment and reduce the propensity to commit crime by the youths.
“Let me say it here that those who set up businesses with the primary motive to scam unsuspecting Nigerians, would be brought down’’.
He said that statistics of real estate would be obtained and a comprehensive register of owners developed because operationalization is key to real estate growth.
“It is only in Nigeria that you will see a civil servant owning a property of N500 million and nobody asks questions for baseless fears of uncertainties.
“We can make things work in Nigeria, the mentality of let go in corruption must be changed. We must form ourselves into pressure groups to make the fight against corruption more meaningful’’.
He appealed to the federal and state governments to set up special funds to support growth of the real estate sector, adding that concrete efforts must be made to make the sector survive.
He counselled investors to always follow due process so as not to fall victim to fraudsters.
“I have seen foreign investors establishing banks in Nigeria with clean record, clean documentation and clean compliance with the law.
“We in EFCC don’t disturb such financial institutions but we move against the ones built on fraud’’.
Mr Ayokunle Erin, the Practice Group Lead, Real Estate, Construction and Infrastructure of the Law Corridor, had earlier noted that the policy dialogue was to herald the evolution of Nigeria real estate ecosystem.
Erin said the move was with a view to making the sector a major driver of Nigeria’s economy.
“The real estate sector bears more than just concrete structures and land registries but it is an economic power house that directly influences urban development, job creation, wealth distribution and social stability’’.
He revealed that Nigeria’s current housing deficit stood at between 17 to 20 million housing units with a required annual delivery of 700,000 units to meet the demand.
He added that the output unfortunately falls drastically short, with Abuja having only about 5000 new units constructed in 2024, to satisfy less than 10 percent of the needs in the FCT.
“The gaps reflected deep rooted policy failure, regulatory lapses and legal ambiguities that continue to embolden fraudsters, quacks and unlicensed agents’’.
He, therefore, called on stakeholders in the real estate sector to act with clarity, courage, and coordination that would shape the landscape of Nigerian real estate. (NAN)
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Government agency demolishes building used as kidnappers’ hideout
Government agency demolishes building used as kidnappers’ hideout
The Oyo State Government has demolished the three-bedroom bungalow where kidnappers held hostage Mrs Busayo Adelabu John-Paul and her twin sons in Ibadan.
Mrs Adelabu John-Paul and the twins, the younger sister and nephews of former Minister of Power, Chief Bayo Adelabu, were abducted at Elewura area of Ring Road in Ibadan on June 3.
The hostages were, however, rescued by the police on Saturday night at Lako Community, Ayegun Anaye area of Ibadan, during which two of the kidnappers were neutralised and others arrested.
The demolition exercise was carried out on Monday by a team led by the Commissioner for Works and Transport, Mr Abdulmojeed Mogbonjubola, accompanied by operatives of the Nigeria Police Force.
The commissioner said that the demoltion was part of efforts by the government to tackle kidnapping and other criminal activities in the state.
According to Mogbonjubola, the state government has also revoked the land from its owner in its commitment to ensure safety of lives and combat insecurity in the state.
He admonished landlords’ associations, housing agents and residents in the state to always be vigilant about their surrounding and tenants living in their areas.
The commissioner advised residents to alert security agents and the government to any suspicious criminal activities.
Speaking earlier, the Vice Chairman of the Landlords Association, Ayegun- Lako Community, Mr Matthew Olaiya, said that occupants of the three-bedroom bungalow rented the apartment recently.
Olaiya said that the occupants of the building always returned late in the night and used to be away for days.
Also present during the demolition was the Permanent Secretary, Ministry of Works and Transport, Prince Goke Adenrele and other officials of the ministry (NAN)
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Fed Govt decries attacks on Nigerians in S/ Africa, plans retaliatory response
Fed Govt decries attacks on Nigerians in S/ Africa, plans retaliatory response
The Federal Government has again strongly condemned the attacks, harassment and forced displacement of Nigerians in South Africa, saying it is considering appropriate measures in response.
The Minister of Foreign Affairs, Amb. Bianca Odumegwu-Ojukwu, stated this while speaking with State House Correspondents on Monday in Abuja.
According to the minister, many Nigerians are unhappy with the treatment of their compatriots in South Africa, considering Nigeria’s historical support for the country’s anti-apartheid struggle.
“Nigeria is not happy because Nigeria sacrificed much for the South African struggle for independence.
“Nigeria committed funds and resources. Seats were reserved for South African students, and many Nigerians actively supported the anti-apartheid movement,” she said.
Odumegwu-Ojukwu said the Federal Government had not ruled out any response, including possible retaliatory measures, although any decision would be taken at the highest level of government.
“That is a situation that we are considering. This is up to our legislature and the highest levels of government, but it is not off the table,” she said.
On the evacuation of affected Nigerians, the minister said arrangements were ongoing to repatriate those willing to return home.
She explained that, although, the airlift did not commence on Monday as initially expected, documentation and other formalities were being concluded.
“The repatriation is on course. Mr President has reiterated that the aircraft will go to South Africa and our citizens who are affected will have the opportunity to return home,” she said.
Odumegwu-Ojukwu said the number of Nigerians seeking evacuation continued to rise, adding that screening processes involving both Nigerian and South African authorities were ongoing.
She disclosed that President Bola Tinubu had directed the immediate establishment of a crisis response unit at Nigeria’s Consulate in Johannesburg and the country’s mission in Pretoria to coordinate assistance for affected citizens.
The minister dismissed claims that the affected Nigerians were illegal migrants, insisting that many were legitimate residents and business owners.
According to her, some Nigerians had suffered attacks on their businesses and properties, while others faced intimidation and insecurity.
“To say that Nigerians in South Africa doing legitimate business are illegal migrants is absolutely untrue,” she said.
Odumegwu-Ojukwu added that the Federal Government, working with the National Emergency Management Agency (NEMA) and other relevant agencies, had put plans in place to support and rehabilitate returnees.
“This evacuation is being undertaken with NEMA and other government agencies to ensure that those who return are properly rehabilitated,” she said. (NAN
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Troops neutralise terrorist scout, arrest suspects recover weapons, ammunition
Troops neutralise terrorist scout, arrest suspects recover weapons, ammunition
The Nigerian Army says its troops have in the last 24 hours, recorded significant operational successes against terrorists, bandits, kidnappers and other criminal elements in various operations across the country.
The operational report made available to the News Agency of Nigeria (NAN) on Monday in Abuja, indicated that troops neutralised a terrorist scout, apprehended several suspects and recovered weapons, ammunition and communication equipment.
In Borno, the report said troops of 73 Battalion (Motorised) neutralised a suspected terrorist scout during an ambush operation near Malari village in Konduga Local Government Area after the suspect ignored repeated warnings to halt.
It also disclosed that troops of 162 Amphibious Battalion recovered seven motorcycles, a PKT machine gun, 1,010 rounds of QJC ammunition and other military items during exploitation operations following the recent terrorist attack on Mandaragirau in Biu Local Government Area.
It added that troops of 145 Battalion arrested a suspected drug peddler in Damasak and recovered illicit substances, while troops of 144 Battalion apprehended a suspected terrorist informant in Madagali, Adamawa.
In Kaduna State, the report said troops of Operation Fansan Yamma fought through an ambush mounted by more than 50 suspected terrorists during a fighting patrol in Kachia Local Government Area and forced the criminals to retreat.
It added that troops of 1 Brigade Quick Response Force apprehended eight suspected terrorists in Zamfara and recovered seven motorcycles, mobile phones, power banks, handheld radios, camouflage uniforms and other items.
“In Niger State, troops of Operation Savannah Shield arrested three suspected terrorists linked to the abduction of a medical doctor and recovered phones, cash and materials believed to be connected to criminal activities.
“The troops also apprehended two suspected terrorist spies allegedly conducting reconnaissance around military facilities in Borgu Local Government Area of the state.
“In Plateau, troops launched a search-and-rescue operation following the abduction of a three-year-old girl in Bassa Local Government Area and arrested a suspected kidnappers’ informant in Mangu Local Government Area,” it said.
The report further revealed that troops of Operation Whirl Stroke recovered a locally fabricated pistol abandoned by fleeing bandits in Katsina-Ala Local Government Area of Benue.
“Similarly, troops of 14 Brigade and other security agencies arrested three suspected gunrunners in Abia and recovered seven Dane guns, 22 live cartridges and a motorcycle.
“In Rivers, troops conducting anti-illegal bunkering operations uncovered and destroyed an illegal refining site in Orashi National Forest, recovering equipment and petroleum products used for illicit activities.
“Ongoing operations across various theatres remain focused on sustaining pressure on terrorists, bandits, kidnappers and othercriminal elements threatening national security,” it said. (NAN) (www.nannews.ng)
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