Reno Omokri, the former Presidential spokesperson on new media to Goodluck Ebele Jonathan has said the former Nigeria President, Olusegun Obasanjo in 2003 established the Economic and Financial Crimes Commission, EFCC to work with the International Financial Action Task Force on Money Laundering to ensure Nigeria is not blacklisted by the international community because of Northern military officers who took advantage of the administration of Sani Abacha as a safe haven for international money laundering fraud.

Reno Omokri who made the statement yesterday in continuous reaction to EFCC mass arrests in the southern Nigeria which Reno Omokri in reaction described online fraud often known as Yahoo Yahoo tied to young southern youths as a smaller economic crime in Nigeria while the bigger economic crimes like currency racketeering, illegal smuggling of rice and petrol products through President Muhammadu Buhari home state, Katsina perpetrated by Northerners are not being addressed or given due attention.

“The second biggest economic crime in Nigeria is currency racketeering. It cost Nigeria over 2 billion dollar annually. Most of those engaged in the Black market are Northerners.

“The biggest smuggling hub in Nigeria is katsina. Smuggling is the biggest economic crime in Nigeria. Nigeria loses 2.5 billion dollar everyday to smuggling, particularly petrol and rice smuggling.

“The biggest thief in human history is Sani Abacha. He and his sons have been convicted of stealing over 5.5 billion dollar from Nigeria. But instead of recognising that, the biggest stadium in Kano is named after him.

“Let’s consider some facts. The EFCC was founded by former President Olusegun Obasanjo in 2003, to work with the international Financial Action Task Force on Money Laundering to ensure Nigeria was not blacklisted by the international community, due to the weakness of previous efforts by past administrations to fight money laundering and other financial crimes in Nigeria.

“This is because Nigeria was blacklisted by the FATF during the Abacha administration as an international haven for money launderers, most of whom were Northern military officers directly connected to the Abacha military junta.

“Let’s talk about terror financing. Who are those providing finances for Boko Haram and bandits running into billions of dollars?

“Online fraud is only a small part of the overall economic crimes in Nigeria, and it is a national affair. It is not just a Southern affair, though I agree with you that it is more prevalent in the South.

“Reason being that the evil practice requires a higher level of education. For example, you @princemaleek20 can’t even spell yahoo (yayoo yayoo). With such poor command of English, who are you going to dupe even if you want to ‘yayoo yayoo’ somebody? You are just like an ugly girl who condemns beautiful girls for being flirts because nobody is interested in flirting with her”, Reno Omokri said.

It would be observed the weak value of Naira to dollar exchange rate have generally affected the cost of goods and services in Nigeria and thus making cost of living very difficult for many to afford.

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

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