Category: 📈Trends

The Economic and Financial Crimes Commission (EFCC) has placed international schools charging tuition in dollars and other foreign currencies under surveillance as part of measures to reduce the pressure on the naira.

The Head, Media and Publicity, EFCC, Dele Oyewale, confirmed the development to one of our correspondents on Thursday,  and said the agency would clamp down on schools and other organisations charging foreign currencies.

He reiterated that it was illegal for schools, hotels and firms operating in the country to charge for services in foreign currencies.

He explained that the 7,000-man special task force on dollar racketeers operating across the EFCC zonal commands was monitoring the schools and other organisations that might be involved in the illegality.

In a move to curb the free fall of the naira against the greenback, the ant-graft agency in February summoned the proprietors of private universities and other schools charging tuition in dollars.

The task force also conducted several raids in Abuja, arresting currency traders suspected to be speculating against the naira.

Worried by the depreciation of the national currency, the Finance Minister and Coordinating Minister for the Economy, Wale Edun, had met with the Governor of the Central Bank of Nigeria, Yemi Cardoso and the EFCC Chairman, Ola Olukoyede, to proffer solutions to the naira crisis.

Speaking with The PUNCH on Thursday, in response to questions about the agency’s efforts to address forex racketeering and stabilise the naira, the EFCC spokesman, Oyewale, said the task force was set up ‘’to ensure that those breaking the rules find their way back to the right path so that the wrath of the law will not be on them.’’

Oyewale said it was illegal for any business operating in the country to charge for its services in foreign denominations apart from the naira, vowing sanctions for any breach of the law.

He stated, “The task force is not just to monitor naira abuse alone but for the whole economy. So, the EFCC is working to ensure that those breaking the rules find their way back to the right path so that the wrath of the law will not be on them.

“Yes, everyone knows that it is illegal to charge in other denominations apart from the naira. Whether in Chinese or American currency, any transaction that is not denominated in naira in Nigeria, the EFCC is against it.

“So, the task force is in place to check that and Nigerians should be happy about that. It is not just schools, hotels but other entities across the country that are doing this must come back to the naira as our legal tender.’’

He added, “Naira is the symbol of our economy and everything that has to do with the economy in Nigeria must be done in naira.’’

Asked if the schools, hotels and other businesses under watch would be punished if caught violating the law, Oyewale responded, ‘’Certainly, they are aware that we are watching them.’’

The National Union of Teachers declared its support for the EFCC over the move to sanction erring international schools charging in dollars.

NUT backs EFCC

The NUT President, Titus Amba, made this known in an interview with one of our correspondents in Abuja.

He said, “Though I am not meant to speak on this because these schools are private schools. However, it is necessary to note that this is Nigeria and if you are going to charge for services, it should be in the national currency which is naira.

“So, we support the EFCC on its mission. Acts like these are sabotaging the economy so we support the EFCC and the Federal Government wholeheartedly.”

The Executive Director of the Civil Society Legislative and Advocacy Centre, Auwal Rafsanjani, urged the government to review its memorandum of understanding with foreign schools and other businesses demanding payment in foreign currencies, noting that the economy was suffering on account of this.

“This cannot happen in the UK, it cannot happen in America, it cannot happen in any serious country. And that is why the economy is suffering because they have destroyed the value of the naira.

“So, we commend EFCC for rising to at least bring this issue to the public, because in the Memorandum of Understanding that they signed with the Nigerian government, there is nowhere the government permitted them to be charging in dollars. If there is anything like that, then we will need to seek reversal of that,” he said.

The group further asked the government to monitor the operations of all businesses demanding payment in foreign currencies.

Rafsanjani noted, ‘’Not only the foreign schools but even hospitals and real estate. Let the government review all those things, and if there were any fraudulent insertion of payment in dollars, the government should stop that as part of measures to revitalise the economy and our currency.”

Also weighing in on the matter, the National Coordinator of the Human Rights Writers Association of Nigeria, Emmanuel Onwubiko, stated that payment of dollars to foreign-owned institutions was unlawful, urging the EFCC and other relevant agencies to take action against the concerned organisations.

He said,  “The currency that we use in Nigeria is the naira, and there is no reason why any private institution or any service provider should charge their customers in a foreign-denominated currency because that is unlawful.

“That being the case, the relevant law enforcement authority is supposed to act decisively to ensure that this kind of illegality is brought to an end. It’s not something that should be allowed because it also affects the naira, it makes the naira to become somehow worthless.’’

Onwubiku challenged the EFCC, CBN and other agencies ‘’to wake up to save the naira from collapsing. ‘’

“It’s not something that the government should just sit down and watch, they should make sure that the naira gains its respectability in the comity of nations,” he insisted.

The Executive Director, the African Centre for Media and Information Literacy, Chido Onumah, on his part, said the situation was a pointer to the lack of a regulatory system to check the activities of foreign schools.

The situation, he said, has also placed a burden on the public school system, urging the government to reinvest in public schools.

The president of the Parent-Teacher Association of Nigeria, Haruna Danjuma, explained that the EFFC had the right to decide on such schools.

He said, “I understand these schools are set up for commercial purposes, they are not public schools. As PTA, we have not received any complaint from any parent from any of such schools that they are being charged in dollars. But is the Federal Ministry of Education not aware of all these? Is it okay with them? Will they say they know nothing about it? If EFCC wants to pick them up now, no problem they should do so. We represent public schools.”

The Lagos State Commissioner for Environment and Water Resources, Tokunbo Wahab, on Wednesday, said the government discovered an apartment under the Dolphin Estate Bridge, Ikoyi, where tenants pay N250,000 annual rent.

According to the commissioner, the under-bridge apartment has 86 partitioned rooms, sized “10×10 and 12×10”.

Wahab shared this information via a post on X.com on Wednesday, along with videos.

He added that the enforcement team of Lagos State’s Ministry of Environment and Water Resources had successfully removed all structures, including a container utilised for various illegal activities, from beneath the Dolphin Estate Bridge.

Sharing videos, the commissioner wrote, “A total number of 86 rooms, partitioned into 10×10 and 12×10, and a container used for different illegal activities were discovered under the Dolphin Estate Bridge.

“They have all been removed by the enforcement team of the Lagos State Ministry of the Environment and Water Resources.”

A Special Adviser to Governor Babajide Sanwo-Olu, Kunle Rotimi-Akodu, further confirmed the eviction of illegal settlers from beneath the bridge towards Dolphin Estate in Ikoyi.

Rotimi-Akodu said 23 individuals were arrested during the eviction, which was carried out by officials of the Lagos State Environmental Sanitation Corps, popularly known as KAI on Tuesday.

He wrote, “Squatters dwelling under the bridge leading from inward Dolphin Estate, Ikoyi were evicted today Tuesday, 30th of April, 2024 by officials of the Lagos State Environmental Sanitation Corps LAGESC (aka KAI).

“These people created their illegal settlement under the bridge, thereby exposing the critical infrastructure to impending destruction. 23 persons have so far been arrested and MoE/KAI will continue to monitor the place. The law will take its course.”

He also confirmed that the bridge has hitherto housed 86 rooms, partitioned into 10×10 and 12×10 with squatters paying an average rent of N250,000 per annum.

“Continuation of the removal of abode under Dolphin bridge. 11 more persons were arrested. It is important to note that wood materials were used to construct the shelters, some occupants used gas cylinders, and some had stored fuel for their generators, these are recipes for disaster,” he added.

He wrote, “Squatters dwelling under the bridge leading from inward Dolphin Estate, Ikoyi were evicted today Tuesday, 30th of April, 2024 by officials of the Lagos State Environmental Sanitation Corps LAGESC (aka KAI).’’

“These people created their illegal settlement under the bridge, thereby exposing the critical infrastructure to impending destruction. Twenty-three persons have so far been arrested and MoE/KAI will continue to monitor the place. The law will take its course.”

 

 

 

The Chairman of the Economic and Financial Crimes Commission EFCC, Ola Olukoyede, narrated an incident where a 17-year-old successfully hacked into his personal computer and bank account while being interrogated at his office in Lagos.

The anti-graft agency chairman made this known in a chat with editors at the EFCC Headquarters, Jabi, Abuja, last Tuesday.

Olukoyede recounted inviting the 17-year-old for questioning at his own office, only to witness the young hacker effortlessly bypass the security measures of his locked computer right before his eyes.

He said, “I brought into my Lagos office a seventeen-year-old boy who is studying History and Anthropology. He is in the 200 level. He is not doing anything science-related. The guy sat in my office in Lagos and demonstrated some things to me on my laptop.

“He asked for my number, I gave him my number and through my number, he got my BVN. He then mentioned the name of my account number to me at the bank. I didn’t tell him anything.”

According to him, the country must take all necessary measures to discourage these young individuals, as their actions could lead to imprisonment or even fatal consequences.

“The problem is, I see crime in that, and I also see opportunities in it. So, if you leave these guys, we don’t make them know that what they are doing is wrong, if you leave them, they will continue to see it as a way of life to make money.”

He mentioned that due to their young ages, the EFCC would administer light sentences to punish youths for the cybercrimes they committed, while also focusing on helping them change their orientation.

“We plead for light sentences so that we can reorientate them and that’s part of what we’re doing. What joy will I derive from sending a 17-year-old boy to jail? You have destroyed his future. You have destroyed his career.

“Sometimes they give them options of fines and all of that conviction, so we bring them in, lecture them and talk to them.”

In a bold demonstration of his skills, the boy confidently informed Olukoyede that he could transfer up to 10 million naira from any account in a single transaction.

He said the 17-year-old boy, when he was done, said, “Look, oga, I can make 10 million now. I will demonstrate it to you. I will move money from your account to mine.

“I said no, don’t do that in my office and he was ready to do that. When he opened my laptop, I didn’t give him the key to my laptop and he had access.

When questioned about his involvement in cybercrime, the boy explained that his parents, who are both farmers, were unable to work on their farm due to security concerns.

“He has two younger ones. One is in JSS2 and the other is in SSS2. He is the one feeding his parents and responsible for the payment of tuition for his younger ones.

“I saw a Bill Gates in that guy.”

Olukoyede, however, assured the boy that he would take responsibility for his schooling if he was able to stop the criminal act.

“I told my family, we are going to do that.

“I spoke to one of my friends who is also ready to help take up the schooling of the SSS 2 guy. So I’m still looking for someone who will take up the one for the JSS 2 sibling.”

This is not the first time the EFCC chairman has revealed the anti-graft agency’s plan to rehabilitate convicted internet fraudsters with reduced sentences.

Addressing a delegation of the National Association of University Students in March 2024, he said “when you think deeply, that tag ‘ex-convict’ is not a good thing. You can never tell where you will find yourself tomorrow, and they will want to profile you and discover that you are an ex-convict.”

“So, it is even in the interest of the youth that the EFCC is doing what it is doing to prevent them from indulging in the heinous act of cybercrime.”

 

 

An oyinbo man has been seen expressing his disappointment to his Nigerian wife for deceiving him about having an enjoyable village life.

In a video shared on Instagram, the white man popularly known as Oyinbo was seen washing a heap of dirty clothes.

While washing, he lamented to his wife for deceiving him that there was a washing machine in the village and hence wouldn’t have to stress himself.

However, it appeared his wife deceived him as he was seen washing himself while his wife was heard in the background instructing him on how to wash the clothes clean.

In another scene, the oyinbo was seen at the farm tilling the ground with a hoe while it rained heavily. His Nigerian wife was heard in the background encouraging him while teaching him how to farm well.

 

An MSc holder explains why he chose to dump his certificate to venture into fabrics business as he claims to make not less than N200K monthly.

The Nigerian man in a viral video stated that he holds a master’s degree with a CGPA of 4.44,; however, he decided to ditch it for a lucrative business.

He stated that he needed more money to make him a better life, and working for someone wouldn’t fetch him enough.

Speaking further, he noted that he has no desire to depend on salary-earned money.

The man who was interviewed in his fabrics sho stated that he makes nothing less than N200K.

Reactions have followed …

@Nwanah Anthony said: “me and u na dsame graduate from Unn but now into Okirka I dey sell I dey make 300k-600k but na God ooo”

@Agency banking Guru wrote: “Exactly my cgpa from unizik”

@Lasisi Raphael wrote: “M.Sc of 4.something ke?,when B.A or B.sc is 5 Gp?”

@Agency banking Guru penned: “God bless our hussle”

@MuxuryLondon🇬🇧 stated: “Weldone my brother”

@Khaliphah Ice 🧊 remarked: “You have truth you can’t live with salary in this country”

@follyboy18 said: “best choice”

 

Chemistry teacher, Ani Ihedioramma Emmanuel, has captured the attention of netizens after his performance in the 2024 UTME was revealed.

The revelation, shared by Alex Onyia, CEO of Educare, on Twitter (now X), has ignited discussions on social media.

The report states that the Chemistry had already secured admission to the Federal University of Technology, Owerri (FUTO), yet he chose to retake the JAMB UTME.

According to Alex Onyia’s online post, Emmanuel deferred his admission to FUTO to participate in a scholarship competition alongside other students from his village.

Throughout this period, he not only focused on his personal academic pursuits but also selflessly dedicated his time to teaching chemistry to the students in his village.

The chemistry teacher’s outstanding performance in the JAMB UTME left many in awe, as he achieved an impressive score of 306 out of 400.

Notably, he scored 53 in English, 78 in mathematics, 87 in physics, and 88 in chemistry, placing him among the top 0.5% of candidates who scored 300 and above.

Netizens Reactions…

@adim4christ said; “Really wish I have the means, I would have loved to have this effort replicated in my village. kudos to you and your team. You guys rock. Super proud of what you’re doing. Chukwu gozie gi nwannem.”

@emybryan said; “I hope the next ones will get some help with English I noticed the score is usually low. With a little help these guys will easily do 350 and above. Kudos to you and the team.”

@SilverandGold88 said; “Has anyone noticed that students with scores over 300 seem to have a low score in English lang? Those with 320+ have their English language score in the 60’s range? Is it a coincidence that these guys excel in all other subjects except English lang?”

@kpakopikin said; “I noticed most jamb results coming from students in villages and rural areas english is always a problem.”

@MmadubuikeTobe said; “He took the risk, and it paid off… “Deferring that admission to fight for scholarship is what I call going all in. “Even nature will know that his plan A,B,C & D is getting the scholarship. “He should be our ambassador in Kwechiri. “I hope I get to meet him someday .” 

See below;

Emmanuel was their Chemistry teacher. He deferred his admission in FUTO to join the youngsters in my village so he can get our scholarship. He was teaching them chemistry and at the same time preparing for the same JAMB exam. He eventually scores 306 and has now been shortlisted… pic.twitter.com/BBixeNJGXh

— Alex Onyia (@winexviv) May 1, 2024