Folarin Kehinde

There is tension in Minna, the Niger State capital, over the worsening economic condition in Nigeria.

In a video seen by Politics Nigeria on X on Monday Morning by Mukhtar Hadi, dozens of Minna residents took to major roads to express their displeasure over the rising cost of food in the country.

Our reporter observed that the protesters blocked major roads in Minna metropolis to protest the increasing hardships in the country.

Chanting in Hausa language, of the protesters said: “The rising cost of food items and poor government effort to arresting the situation has forced us to block major roads so that government will hear our cry”.

The kidnapped pupils and staff of Apostolic Faith Group of Schools, Emure Ekiti have regained their freedom.

A confirmation from the Ekiti State Police Command Spokesperson, Sunday Abutu on Sunday morning, however, indicated that the driver is dead.

The abductees were said to have been released in the early hours of Sunday.

They were kidnapped on Monday evening along Emure – Eporo Road while returning to Eporo after closing school.

The kidnappers shot at the bus and later whisked away nine persons comprising five students, three female teachers and a driver among the occupants of the bus.

The police PPRO said, “All victims were rescued today at about 1.30am, but unfortunately, we lost the driver who was suspectedly killed by the abductors.”

A government official at Emure Ekiti, who confirmed the release of the abductees, said, “The abductees are here, the parents and family members are here. I will give you details shortly.”

A source, who also confirmed the development, said that officials of the state Ministry of Health were on the ground to take them to Ado Ekiti, the state capital for medical attention.

Meanwhile, Ekiti State Governor, Biodun Oyebanji, on Saturday assured parents and families of kidnapped pupils and staff of the Apostolic Faith Group of Schools, Emure Ekiti, that they would soon be rescued to rejoin them.

The Economic and Financial Crimes Commission has recovered over N30bn from the N37,170, 855,753.44 allegedly laundered in the Ministry of Humanitarian Affairs under the former minister, Sadiya Umar-Farouk.

The commission had also uncovered over N500m from the scam associated with Umar-Farouk’s successor, Betta Edu, who was recently suspended by President Bola Tinubu, according to punch.

Saturday punch had in December reported that N37,170,855,753.44 was transferred from government coffers and sent to 38 different bank accounts domiciled in five legacy commercial banks belonging to or connected with a contractor, James Okwete.

It was gathered on Friday that N30bn was recovered by the EFCC following the placement of a lien on the bank accounts of Umar-Farouq and Okwete, who are still being grilled by the anti-graft agency’s investigators.

The agency is also still grilling Edu in connection with an alleged N17bn fraud, while the suspended Coordinator of the National Social Investment Programme, Halima Shehu, is also still being questioned over an alleged N44bn fraud.

An EFCC source revealed, “The commission has now recovered over N30bn from the laundered N37.1bn that was linked to former minister Sadiya Umar-Farouq. We were able to recover the money after we placed liens on the bank accounts of the former minister and the contractor, Mr Okwete, who was linked to the fraud under probe. Both the minister and the contractor are still being grilled by our investigators daily.”

A senior EFCC investigator added, “We have uncovered another N17bn money laundering from the Ministry of Humanitarian Affairs, and for the alleged fraud linked to the suspended minister, Betta Edu, we have so far recovered over N500m. Edu is still answering questions about the fraud.

“The NSIPA coordinator, Halima Shehu, is still being grilled over the N44bn fraud linked to her at the NSIPA; our investigators aren’t leaving any stone unturned.”

When contacted for comments on the development, the spokesperson for the EFCC, Dele Oyewale declined comments.

In another development, the EFCC said it recovered a total of N70,556,658,370.5 between October 2023 and January 19, 2024.

Details of the recovery were outlined in an EFCC document titled, ‘Operations and Recoveries’, which was exclusively obtained by our correspondent.

The document revealed that in the period under review, the EFCC recovered N60,969,047,634.25, $10,522,778.57, £150,002.10 and €4,119.90, making a total of N70,556,658,370.5.

It added that the EFCC received a total of 3,325 petitions, accepted 2,657 of the petitions, and secured the conviction of 747 persons for financial crimes ranging from money laundering to Internet fraud in the same period.

A breakdown of the data shows that the EFCC headquarters alone recovered N49,607,391,330.44, $3,900,200.75, £2,000, and £110.

The Maiduguri Zonal Command recovered N58,065,870 and $3,370; the Gombe Command recovered N127,323,028.50 and $1,500; while the Kano Command recovered N141,944,451 and $365.

The Makurdi Command recovered N53,228, 325; Enugu Command, N202,117,000; and $1,950; Uyo Command, N25,299,950 and $710; and Port Harcourt Command, N2,412,247,210.05 and $5,714,389.21.

The Sokoto Command recovered the sum of N100,696,118.72; Kaduna Command, N331,494,710.81, $912, £50, and €1,610; Ilorin Command, N80,280,580.86 and $880; Abuja Zonal Command, N825,928,463 and $10,000; and Ibadan Zonal Command, N135,519,810, $14517, £280, and €500.

The Lagos Zonal Command was said to have recovered N6,826,993,798.78, $868,284.61, £147,672.10, and €1,899.90, while the Benin Zonal Command recovered n49,515,987.09 and $5,700.

Within the same period, the agency said it secured the conviction of 747 persons for offences ranging from money laundering to cybercrimes.

However, the Chairman of the EFCC, Ola Olukoyede, at a dialogue in Abuja on Wednesday, revealed that most of the 747 convictions involved persons who were prosecuted for cybercrime offences.

Meanwhile, the commission has said that it has deepened its probe into money laundering cases involving some high-profile public officials, especially former governors and ministers indicted for fraud.

The total amount involved in the money laundering cases rose to around N130.1bn as of January 31, 2024.

Details of the development were contained in an EFCC document titled, ‘100 Days in Office’, detailing ongoing probes, discoveries, and recoveries made by the commission under Olukoyede.

The kidnappers of five pupils and four staff members of the Apostolic Faith Group of Schools, Emure Ekiti, have issued a new threat, warning that they will kill their victims if the parents fail to pay the reduced ransom of N15 million as quickly as possible.

The initial demand was N100 million, but after negotiations, the abductors lowered the ransom.

Families of the kidnapped victims disclosed the latest development, stating that the kidnappers insisted on the prompt payment of the reduced ransom, claiming that the abducted children were becoming weak.

The parents are now under pressure to raise the funds and secure the release of their loved ones.

The victims, consisting of schoolchildren and staff members, were abducted on the Emure-Ekiti — Iporo Ekiti road after closing hours. The gunmen attacked a bus conveying over 25 pupils of the Apostolic Faith Group of Schools.

In an interview with Punch on Thursday, Pastor Clement Adebisi, whose wife, Mary, was among the kidnapped staff members, said the kidnappers told them to get the money on time while revealing that the children were already getting weak.

He said his wife was on the bus with his three children, but the kidnappers took the woman away and left the children.

Adebisi stated, “We just spoke with them two hours ago, and they concluded that we should pay N15 million. They told us that the children were already getting weak and we should find the money on time and come and take them out of their place.

“One of my children who tried to follow her mother was beaten and thrown into the bush. It was the eldest sister that went to carry her. She even fainted twice when they got home.”

Another parent, Adebisi Jegede, whose wife, Esther, and daughter, Ogoolami, are among the victims, said the abductors threatened to kill their victims.

He said, “My wife is a teacher, and I was the first person they called, and that was the second day around 2 pm. When they first called me, they said we should bring N10m each to secure their release.

‘’When they called me the second time, they started to beat my wife and the children and kept asking for money. They threatened to kill them if we did not pay the money.”

Prices of goods are set to increase as the Central Bank of Nigeria (CBN) raised the exchange rate used by the Nigeria Customs Service for imports to N1,356.883 per US dollar from the previous N951.842.

The circular signed by Hassan Mahmud, Director of Trade and Exchange Department, was titled ‘Removal of Allowable Limit of Exchange Rate Quoted by the International Money Transfer Operators’.

This move is expected to inflate import costs and, consequently, the prices of goods and services across the board.

The directive by the CBN was announced on Friday, leaving Maritime stakeholders shocked.

The new exchange rate is already reflected on the Trader Portal for Single Window Trade, a frontline Customs Broker, Barr Michael Ovien, confirmed as per Daily Post.

Economists predict a domino effect, with import costs rising astronomically and translating into higher prices for consumers. This is particularly concerning given Nigeria’s heavy reliance on imported goods. In the third quarter of 2023 alone, the country’s total imports reached N8.46 trillion, highlighting the potential impact of the exchange rate hike.

The CBN’s decision comes amidst a turbulent period for the Naira, which has seen a free fall in recent days. In a bid to curb the fluctuations, the bank has implemented several policy interventions, including removing the cap on exchange rates quoted by International Money Transfer Operators (IMTOs) and issuing guidelines to stop foreign currency hoarding and speculation.