Economic and Financial Crimes Commission, EFCC has said that, going forward the commission will only investigate and prosecute new videos of Naira abuse.

EFCC stated this in a statement it issued few hours ago.

EFCC action is coming after many Nigerians dug out videos of so many public figures including a seemingly video of the daughter of the President of the country, Bola Ahmed Tinubu, spraying naira notes at a ceremony, same offence, a popular crossdresser, Idris Okuneye aka Bobrisky was sentenced to six months imprisonment with no option of fine on Friday by a Federal High Court in Lagos State.

Many Nigerians took to social media to condemn the judgement and accused the judge and the anti corruption police, EFCC of seriously violating the right of Bobrisky on the ground of fairness as enshrined in the Nigeria constitution.

The Nigerians argued that spraying of naira notes at ceremonies is an act very common among almost every individual in the country and queried why the EFCC and the judge decided to take the issue personal with Bobrisky.

Therefore, some of the Nigerians started digging out old videos of many government officials and public figures spraying money at events. The aggrieved citizens thereafter called on the EFCC to arrest and prosecute all of them so that they can also be jailed like Bobrisky for the purpose of equity and fairness in law.

The EFCC statement reads in quote below:

Setting the Records Straight on Investigations of Humanitarian Ministry

The Economic and Financial Crimes Commission, EFCC, has noticed the rising tide of commentaries, opinions, assumptions and insinuations concerning its progressive investigations into the alleged financial misappropriation in the Ministry of Humanitarian Affairs, Disaster Management and Social Development.

At the outset of investigations, past and suspended officials of the Humanitarian Ministry were invited by the Commission and investigations into the alleged fraud involving them have yielded the recovery of ₦32.7 billion and $445,000 so far.

Discreet investigations by the EFCC have opened other fraudulent dealings involving Covid -19 funds, the World Bank loan, Abacha recovered loot released to the Ministry by the Federal Government to execute its poverty alleviation mandate. Investigations have also linked several interdicted and suspended officials of the Ministry to the alleged financial malfeasance.

It is instructive to stress that the Commission’s investigations are not about individuals. The EFCC is investigating a system and intricate web of fraudulent practices.  Banks involved in the alleged fraud are being investigated. Managing Directors of the indicted banks have made useful statements to investigators digging into the infractions.

Those found wanting will be prosecuted accordingly.  Additionally, the EFCC has not cleared anyone allegedly involved in the fraud. Investigations are ongoing and advancing steadily. The public is enjoined to ignore any claim to the contrary. 

On the issue of the works of the Commission against Naira abuse,  dollarization of the economy and the enforcement of all extant laws relating to them, the EFCC appreciates the avalanche of public awakening, support  and involvement demonstrated  so far. 

Increasingly, members of the public are drawing the attention of the Commission to video recording of abuse of the Naira by Nigerians from all walks of life. These gestures amply demonstrate rising consciousness of the public to the sanctity of our national currency and the need for collaborative engagement to sustain the tempo.

To this end, the Commission will always investigate and prosecute anyone involved in the abuse of the Naira.

Old videos being exhumed and flying around for the attention of the Commission are noted as the Commission is sensitive to the fact that its Special Task Force against Naira Abuse and Dollarization of the economy commenced operations on February 7,  2024. However, going forward, new videos of such infractions will be investigated and prosecuted.

At the moment, the Commission is investigating several celebrities involved in Naira abuse. Many of them have made useful statements to the Commission and many more have been invited by investigators working on the matter.

The EFCC will not relent in its no-sacred-cow mode of operations and the public should be wary of running afoul of laws against the crime.

Signed: Dele Oyewale, Head, Media and Publicity, April 14, 2024.

Osazuwa Akonedo

Osazuwa Akonedo is a Nigerian media professional, author, and consultant. His work spans various sectors of communication and literature: Journalism and Media: He is the founder of OsazuwaAkonedo, which focuses on news analysis and commentary. He also provides consultancy services in media and banking. Literature: He is a published playwright and author of Nigerian literature. One of his notable works is the drama titled The End Shall Tell: What Exam Malpractice Can Cause, which addresses educational and social issues in Nigeria. Reporting: He frequently reports on regional news, particularly concerning Edo State and broader Nigerian current affairs. Credit: Google Gemini AI Mode Osazuwa Akonedo is a Nigerian media creator, journalist, and entrepreneur who engages audiences via news reporting, social media content, music, and a mobile application. Professional Background and Company Osazuwa Akonedo is associated with OSAZUWAAKONEDO LIMITED, a company registered in Nigeria that operates in media consultancy and news services  The company is headquartered in Benin City, Edo State, Nigeria, and has been active in publishing news in various formats including text, audio, video, and photos  Social Media and Online Platforms Osazuwa Akonedo maintains a strong online presence on several platforms: TikTok: Shares news updates and reports, for example, covering police operations in Nigeria  YouTube: Operates a channel where he uploads videos on current affairs and news content  Twitter/X: Active under the handle @akonedo_osazuwa, posting updates on events and news  Facebook: Profiles listing his connection to news and media activities can be found on Facebook  Mobile App: Offers a dedicated mobile application for news access through Google Play (Osazuwa Akonedo News App) providing text, video, and photo news formats  News Reporting and Content He produces news content covering national and local stories, including criminal activities, government updates, and investigative reports   His reporting spans multiple formats, making it accessible to a wide audience through online platforms, mobile apps, and social media  Other Contributions In addition to journalism, Osazuwa Akonedo has also ventured into audio releases, such as “Former Justice Minister Abubakar Malami Begs Nigerians For Justice” released on January 25, 2026   He also hosts podcasts documenting significant events, e.g, NDLEA arrests related to historical criminal cases  Summary Osazuwa Akonedo is a multifaceted media professional engaged in journalism, social media content creation, music, and technology via his news app. He utilizes platforms like TikTok, YouTube, Twitter/X, Facebook, and mobile applications to disseminate news and reach audiences both locally and internationally Credit: Azure AI

Linkedin Tiktok Facebook Twitter Instagram Youtube