Mr. Ola Olukoyede, Chairman of the Economic and Financial Crimes Commission (EFCC), alleges that corrupt Nigerian politicians are increasingly “hiding stolen public funds in cryptocurrencies to evade probes.”

He made the statement on Thursday during an Anti‑Corruption Day event organized by the African Union in Ibadan.

Represented by the EFCC’s Acting Zonal Director in Ibadan, Hajiya Hauwa Ringim, he warned that virtual assets are being misused to conceal illicit wealth.

“Virtual assets are digital monetary representations that could be traded or transferred,” Olukoyede said, stressing that while such assets “are not criminal,” they “become dangerous when used fraudulently.”

He lamented the damaging impact on Africa’s development due to illicit financial flows such as money laundering and digital fraud schemes.

The EFCC boss added that investigators have “observed an alarming increase in politicians using cryptocurrency wallets to store unexplained wealth and facilitate fraudulent investment activities.”

He emphasized that the EFCC is not standing idle, noting that “the agency was addressing the challenge with training and intelligence.”

He referenced a major breakthrough in the investigation of the CBEX investment scam as evidence of their efforts.

Olukoyede also cautioned the public: “most scams succeed due to lack of due diligence and delayed reporting of suspicious transactions to relevant authorities.”

He highlighted the continued prevalence of Ponzi schemes, warning that “desperate investors [easily] fall prey to enticing but fake digital investment promises.”

He urged a multifaceted approach to prevention, stating that “virtual assets fraud could be prevented through public awareness, proactive measures and stakeholder engagement by anti‑graft agencies as well as regulators.”

Adding his voice at the event, University of Ibadan criminologist Professor Oludayo Tade cautioned Nigerians about unrealistic investment offers in the digital space.

He advised: “avoid schemes offering suspiciously high returns, warning that 50 per cent profit within a week are clear signs of deceit.”

He also criticized the use of celebrity endorsements, noting that fraudsters “exploit the image of celebrities as well as influencers to build trust and deceive unsuspecting investors across media platforms.”

Tade called on government agencies to ramp up educational campaigns, arguing that “fraud prevention was more effective than belated enforcement actions.”

He emphasized the need for funding into investigative efforts and stricter punishment for offenders.

The event, held in Ibadan, brought together security advisers, command-level law enforcement officers, civil society groups, students, and youth leaders highlighting the broad concern around cryptocurrency-related financial crimes.

The Minister of Foreign Affairs, Ambassador Yusuf Tuggar, has revealed that the United States is applying pressure on African countries to take back Venezuelan deportees, a demand Nigeria finds difficult to accommodate.

Speaking on Channels Television’s Politics Today on Friday, Tuggar clarified that the recent 10 per cent tariffs imposed on Nigeria by the Trump administration may not be linked to Nigeria’s participation in the BRICS summit.

“The issue of tariffs may not necessarily have to do with us participating in BRICS,” he stated.

He further explained the complexity of the deportation issue, noting, “You have to also bear in mind that the U.S. is mounting considerable pressure on African countries to accept Venezuelans to be deported from the U.S., some straight out of prison.”

“It will be difficult for a country like Nigeria to accept Venezuelan prisoners into Nigeria. We have enough problems of our own.”

“We cannot accept Venezuelan deportees to Nigeria, for crying out loud. We already have 230 million people. You will be the same people that would castigate us if we acquiesce to accepting Venezuelans from U.S. prisons to be brought in,” Tuggar added.

He also cautioned that accepting such deportees could set a precedent, saying, “The issue of accepting Venezuelan deportees, honestly, I don’t think is something that Nigeria is in a position to work with. And I think it would be unfair to insist that Nigeria accepts 300 Venezuelan deportees. Maybe that might just even be the beginning.”

Regarding the new US visa policy, Tuggar disputed claims that it was a reciprocal move.

“We are talking to the Americans. We are engaging them. We are also explaining and reminding them that we issue them five-year multiple entry visas, the same way that they issue regular travellers five-year multiple entry visas.”

He clarified the difference Nigeria introduced: “What Nigeria has done that differs is simple. We used to have a visa-on-arrival that wasn’t running efficiently.”

“We introduced these online electronic visas that you can apply so that it saves you time, instead of just arriving and then going through the process of getting the visa when you have already arrived.”

“We have different categories of visas. There are people that are first-time travelers that are coming as tourists that are probably not likely to come back to Nigeria again, maybe because they’re coming for a short while, and they get those 90-day visas.”

“So our visa is not saying that every American is only being given 90-day visas or three months or whatever. We give Americans, there are loads of Americans, that have these long-term visas. It is not based on reciprocity,” the minister emphasized.

The Peoples Democratic Party (PDP) in Cross River State has issued a 48-hour ultimatum to some state executive members and chapter chairmen alleged to be serving as coordinators for the African Democratic Congress (ADC).

They have been instructed to either publicly denounce the report or resign from the PDP.

In a statement released following the party’s 28th State Working Committee (SWC) meeting on Wednesday, July 9, 2025, PDP leadership condemned the involvement of its officials in what was described as “a partisan publication,” and reaffirmed its stance on internal discipline and party integrity.

The statement, signed by State Publicity Secretary Prince Mike Ojisi, acknowledged members’ constitutional rights to freedom of association, but emphasised that such rights “must be exercised within the boundaries of the law and party regulations.”

“Any individual members wishing to join other political parties should first resign their membership from the party, as the Electoral Act does not support dual membership of political parties,” the statement read.

The SWC insisted that those named in the publication must “act honourably by either distancing themselves from the said publication or stepping down from their roles within the party.”

“Failure to comply within 48 hours, the statement warned, “would lead to the invocation of disciplinary measures as outlined in its constitution.”

Further, the PDP reaffirmed that it is “not in any form of coalition with any political party,” citing the resolution passed at its 100th National Executive Committee (NEC) meeting in Abuja.

“We therefore urge our Executive Committee members to prioritise their loyalty to the party and refrain from any activities and associations that may be perceived as defection or anti‑party activities,” the statement added.

Reassuring party members and supporters, the SWC expressed confidence in the PDP’s resurgence, calling for optimism about a future victory in the state.

“The party urges members to look with hope to the future, as better days are coming when the party will return to her winning ways,” Ojisi said.

As the All Progressives Congress (APC) prepares for its upcoming National Executive Committee (NEC) meeting scheduled for July 24, signs are emerging that former Kogi State Governor, Alhaji Yahaya Bello, may be eyeing the party’s national chairmanship seat.

Supporters of the two-term governor have launched an early show of interest by flooding parts of the Federal Capital Territory (FCT), Abuja, with campaign posters bearing his image.

The posters, which call for Bello’s consideration for the top party job, were seen at several strategic locations across the city.

A visit by DAILY GAZETTE to parts of Abuja revealed that hundreds of the posters were prominently displayed around the city gate and near the APC national secretariat on Blantyre Street, an apparent signal of grassroots mobilization ahead of the NEC meeting.

Although Bello has not formally declared his intention to contest for the position, the public display by his supporters suggests a growing push for his candidacy following the unexpected exit of former APC chairman and ex-Governor of Kano State, Dr. Abdullahi Umar Ganduje.

The development adds to growing speculation over who will emerge as the next leader of the ruling party, with stakeholders expected to decide the matter during the crucial NEC gathering later this month.

In a strong demonstration of unity and shared purpose, 37 state chairmen of the African Democratic Congress (ADC) including the chairman of the Federal Capital Territory (FCT), have thrown their support behind the party’s interim leadership after a crucial meeting in Abuja on Wednesday.

The closed-door meeting was convened by the interim leadership, which includes former Senate President David Mark and members of the party’s National Working Committee (NWC).

It comes amid growing political speculation about possible internal rifts within the party.

The aim, according to party insiders, was to reaffirm internal cohesion, debunk rumours of factionalism, and consolidate ongoing coalition-building and reorganisation efforts ahead of the 2027 general elections.

Speaking to journalists after the meeting, ADC’s spokesperson, Bolaji Abdullahi, clarified the purpose of the gathering.

“We invited all the state chairmen to reassure them that we have no intention to shove them aside. The purpose is to dispel all the falsehood and rumours making the rounds that we came to hijack the party from them,” he said.

Abdullahi emphasized the interim leadership’s commitment to inclusion and partnership with state leaders, describing them as “partners in building a stronger political party.”

He noted that the meeting had a unifying effect and boosted confidence among party stakeholders nationwide.

“The meeting has succeeded in strengthening the confidence of party leaders across the states,” he added.

Vice-President Kashim Shettima has revealed that former President Goodluck Jonathan once attempted to remove him from office during his tenure as governor of Borno State.

Speaking in Abuja on Thursday at the public presentation of OPL 245: Inside Story of the $1.3 billion Nigeria Oil Block, a book authored by former Minister of Justice and Attorney-General of the Federation, Mohammed Adoke (SAN), Shettima recounted how the move was thwarted.

Shettima, who served as governor from May 2011 to May 2019, said that during the height of the Boko Haram insurgency, especially between 2011 and 2013 when Jonathan declared multiple states of emergency in the northeast, he faced mounting pressure and political attacks.

According to him, “There are two gentlemen seated here. Certain decisions are taken in a very rare circle. The President, the Vice President, the Senate President and the Speaker of the House of Representatives.

“In one of such conclaves, former President Goodluck Jonathan, with whom we have sheathed the sword and have now recalibrated our relationship, was muting the idea of removing this Borno governor.”

Shettima credited former Speaker of the House of Representatives, Aminu Tambuwal, for standing up to the President at the time.

“Aminu Tambuwal, the then Speaker of the House of Representatives, had the courage to tell the President that, ‘Your Excellency, you don’t have the powers to remove an elected councillor,’” he said.

Despite the pushback, Shettima said the former President remained unconvinced.

“The President was still not convinced; he muted the idea at the Federal Executive Council,” Shettima added.

He went on to commend Mohammed Adoke for upholding the rule of law in the face of political pressure.

“He (Mr Adoke) told the then President that, ‘Mr President, you do not have the powers to remove a sitting governor, not even a councillor.’

“They sought the opinion of another SAN in the cabinet, Kabiru Turaki, who said, ‘I’m concurring with the opinion of my senior colleague,’” Shettima recounted.

According to the Vice-President, that moment cemented his lasting bond with both Adoke and Tambuwal.

“That was how the matter was laid to rest. But that was how my relationship with Mr Adoke and Aminu Tambuwal became eternally sealed,” he concluded.

Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy, has dismissed the chances of a joint presidential ticket between former Vice President Atiku Abubakar and Labour Party’s 2023 presidential candidate, Peter Obi, in the 2027 elections.

Speaking on Prime Time, a programme aired on Arise TV on Thursday, Onanuga said that even a coalition between Atiku and Obi would not be strong enough to unseat President Tinubu.

Daily Trust earlier reported that the opposition coalition recently adopted the African Democratic Congress (ADC) as its platform ahead of the 2027 general elections.

The coalition includes notable political figures such as Atiku, Obi, former governors Rauf Aregbesola (Osun) and Nasir El-Rufai (Kaduna), as well as former Senate President David Mark, among others.

Reacting to the development, Onanuga said the ruling All Progressives Congress (APC) does not consider the coalition a serious challenge.

“They are free to form alliances but as far as the APC is concerned we are not seeing them as any threat,” he said.

“If you merge Peter Obi and Atiku together, there is no way the two of them can beat a Bola Tinubu and Shettima ticket. It is going to be impossible.”

He also suggested that the coalition is premature in launching its political activities ahead of the next general election.

“They are jumping the gun, it is not yet time for politicking,” Onanuga added.

The presidential aide maintained that President Tinubu’s track record would be a strong factor in the 2027 elections, suggesting that achievements in office would speak louder than alliances.