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Why Foreign Investment Risks In Africa Must Be Reduced – EFCC Boss

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The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede has described elaborate reforms as the panacea to investment risks across the African continent.

Naija News reports that he made this knowb on Friday, September 19, 2025 in Washington DC, United States of America at the EBII Group African Leaders & Partners Forum.

According to the EFCC boss, lowering investment risks in Africa requires broad-based and radical reforms that would make the continent a beautiful bride to investors around the world.

He said: “De-risking Africa requires us to pay attention to reforms to improve the ease of doing business, respect for the rule of law and human capital development. Success in this regard, requires strong institutions in view of the challenges, which already exist in the agricultural, renewable energy and solid minerals sectors.”

The EFCC’s boss, who joined other world leaders at the Forum to discuss de-risking investment in Africa’s strategic sectors: agriculture, energy transition and critical minerals, pointed out that Africa had huge potentials and deep riches in minerals and talents of its young and tech savvy population but needs fully-integrated reforms to attract more foreign direct investments.

He showcased the rising successes of the EFCC in tackling various economic and financial crimes in Nigeria, owing to effective reforms and operational dynamics.

According to him, the EFCC, in its 22 years of existence has maintained a trajectory of vigorous investigations, prosecutions and assets tracing, recovery and return.

He said: “There can be no greater incentive to investors than assurance of due process and rule of law. From a background of zero conviction for financial and economic crimes, we have achieved over 13,000 convictions in 22 years of operation. In 2024, the Commission secured 4111 convictions. This rekindles confidence that investors who for whatever reason felt cheated can seek redress and get justice.”

Olukoyede stressed that the Commission also offers advisory service, on demand, to foreign investors seeking information to navigate potential risks in Nigeria’s investment landscape.

Referencing his reforms and initiatives since he assumed office about two years ago, the anti-graft czar affirmed that the corruption prevention aspect of the EFCC’s mandate was enhanced in 2024 by the activities of the Department of Fraud Risk Assessment and Control.

Created in 2023, and mandated to deploy risk-based approaches in preventing corruption in Ministries, Departments and Agencies, MDAs, the department recorded major milestones in tracking the disbursement and utilization of public funds. It evaluated the over $50m contract under the Pi-CNG project ensuring Ninety-five percent delivery of buses and conversion kits.

Other milestones of the Commission he placed before the global audience include the arrest of 792 crypto currency and internet fraudsters in Lagos in one single operation and in one day, the unmasking and forfeiture of 753 duplexes and other apartments in Abuja, the involvement of the EFCC in Nigeria’s efforts to enhance compliance with global standards on anti-money laundering and counter-terrorist financing (AML/CFTto exit the FATF’s grey list, the investigation and prosecution of sophisticated digital assets and investment fraud including the Crypto Bridge Exchange, CBEX, scam in which subscribers to a phony crypto investment scheme lost over half a billion dollars.

“Some of the masterminds are being prosecuted before courts in Nigeria. Before CBEX, the Commission also investigated Binance, one of the major Crypto exchanges. The investigation was a revelation in terms of the quantum of resources controlled by the exchanges outside of the Nigerian financial system”, he said.

He beckoned to the rest of the world to learn from the evidential successes of the EFCC as it collaborates in joint operations with the FBI, National Crime Agency, Canadian Royal Mounted Police and others to drive reforms in financial crimes investigations.


© 2025 Naija News, a division of Polance Media Inc. Contact us via [email protected]



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APC plans to release El-Rufai after 2027 election – ADC

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The African Democratic Congress, ADC, on Thursday alleged that the All Progressives Congress, APC, plans to release former Kaduna State governor, Nasir El-Rufai after the 2027 elections.

ADC’s spokesman, Bolaji Abdullahi said the APC knows that the opposition would be stronger if El-Rufai is released before the election.

Featuring on Channels Television’s Politics Today, Abdullahi insisted that the ADC is against making it difficult for El-Rufai to be granted bail.

He said: “ADC is not opposed to anybody who has a legitimate case to answer from being prosecuted but when you are holding someone in custody for bailable offences and you proceed to arraign that person and make impossible conditions for bail to meet, it creates room for us to believe that you deliberate intend to hold this person in perpetuity.

“What I can tell you is that the thinking within the ADC is that the APC government has concluded that they will not release Mallam Nasir El-Rufai until after the election.

“That’s what we believe, that’s the plan, and that’s what they plan to do. They know that with Mallam Nasir El-Rufai freed, the opposition is stronger and they know that if they release him, he would remind them of certain things that they would rather forget.

“We in the opposition believe that they are doing everything to make sure that El-Rufai remains in custody until after the election.”




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2027: We have no business in opposition – Kogi APC stakeholders 

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Prominent stakeholders of the All Progressives Congress, APC, in Kogi East Senatorial District, under the auspices of the Kogi Progressive Stakeholders Forum (KPSF), have declared that they have no business in opposition political parties ahead of the 2027 general elections.

The APC stakeholders also declared support for the re-election of President Bola Tinubu in 2027.

The declarations were contained in a statement signed by the forum’s State Coordinator, Hon. Philips Sani.

The statement was made available to DAILY POST on Thursday evening.

Sani, in the statement issued at the end of a one-day meeting organised to formulate strategies towards winning the elections for Tinubu and other APC candidates in the senatorial district, explained that the president has done his best despite the numerous challenges he inherited when he assumed office in 2023.

The meeting was attended by notable personalities, including the Zonal Woman Leader of the forum, Mrs Florence Achoba, and the Zonal Coordinator of the forum in Idah Federal Constituency, Hon. Peter Egwudah, among others.

Sani noted that members of the forum had resolved to work for the APC because they have no business with the opposition.

He maintained that the ruling party provides the opportunity for sustainable growth and development, not only for the zone but also for the country at large.

He also described Tinubu as a reformer.

“Kogi East has no business being in the opposition, as the ruling party provides the opportunity for sustainable growth and development not only for the zone but for the country at large.”

Egwudah, while speaking, seized the opportunity to appeal to Tinubu to assent to the bill for the establishment of the Federal Medical Centre, Ankpa, which is currently before him.

He also appealed to the president to approve the construction of the Otuocha-Ibaji-Idah Road.




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2027: PDP tells Niger candidates to shun personal attacks

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The Niger State chapter of the Peoples Democratic Party, PDP, has charged its candidates for the 2027 general elections to focus on issue-based campaigns and embrace inclusive leadership as it presented them with certificates of return.

The State Chairman of the party, Hon. Aliyu Halidu Mohammed, gave the charge while presenting the certificates to candidates who emerged victorious in the party’s primary elections.

He urged the candidates to uphold the ideals of the PDP by carrying along party executives, stakeholders, supporters, and loyalists across the state as campaigns gather momentum.

Mohammed also stressed the need for the candidates to maintain close working relationships with the party structure, particularly the 25 local government chairmen and ward chairmen, describing grassroots mobilisation as critical to the PDP’s success in the 2027 elections.

According to him, collaboration with the party structure would strengthen unity, enhance mobilisation, and improve the party’s chances at the polls.

The state chairman further appealed to party members, supporters, and stakeholders to remain united and committed to the collective goal of reclaiming power in the state.

“The enduring strength of the PDP lies in its unity, discipline, and unwavering dedication to providing purposeful leadership for the people of Niger State,” he said.

Also speaking, a PDP stakeholder and former First Lady of Niger State, Senator Zainab Kure, commended the party’s flag bearers for their loyalty and commitment.

She noted that contesting against the ruling party from the opposition is never easy, but urged the candidates to remain steadfast, determined, and prayerful as they prepare for the 2027 general elections.

Certificates of return were presented to the party’s three senatorial candidates, six House of Representatives candidates, and 24 State House of Assembly candidates who emerged victorious in the PDP primary elections across Niger State.




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