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EFCC arrests operations manager of commercial bank for hoarding new naira notes in Abuja

 

Owolola Adebola

An Operations Manager of a leading Commercial bank in Abuja Central Area was on February 6, 2023, arrested by operatives of the Economic and Financial Commission, EFCC, for refusing to load the Automated Teller Machines, ATMs, of the bank despite having N29 million of the redesigned Naira notes in the branch’s vaults.

Before he was whisked away for further questioning, the operatives ordered the loading of all the ATMs and the payment of the stipulated amount across the counter to the delight of the distraught customers who had spent hours in queues without getting the new notes.

This discovery, which indicates a sabotage of the government’s monetary policy by some banks, was made by the EFCC in continuation of the ongoing surveillance and visit to banks across the country to access their vaults and verify whether they were deliberately refusing to dispense the redesigned Naira notes.

More than five bank branches were covered by the operatives in Abuja. Similar exercises were ongoing in Zonal Commands across the country.

The EFCC promised that the operation will continue until normalcy is restored to the banking system.

The anti-graft commission advised Nigerians who are finding it difficult to access their funds at any bank and suspect foul play to contact the commission, for immediate intervention.

 

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National Assembly spurns opposition against Tantita’s pipelines surveillance contract

– renews confidence in the tripartite security arrangement
Funso Olojo, Editor 
The National Assembly (NASS) on Tuesday, April 7th, 2026, has dismissed three petitions challenging the pipeline surveillance contract and passed a vote of confidence on Tantita Security Services, security agencies, and the Nigerian National Petroleum Company Limited (NNPCL) for their roles in protecting Nigeria’s oil assets and boosting crude oil production.
The endorsement came against the backdrop of Nigeria’s oil output rise
to about 1.8 million barrels per day (mbpd) as of April, 2026 up from around 900,000 barrels per day recorded in 2022 when the surveillance contract was introduced.
The resolution followed a motion moved by the Chairman of the House Committee on Petroleum Resources (Midstream), Henry Okojie, during a one-day parliamentary roundtable on pipeline security and efforts to curb crude oil theft.
The joint committees on Petroleum Resources said the surveillance arrangement has significantly reduced pipeline vandalism, curtailed crude oil theft, and increased national revenue.
 They noted that the initiative has been instrumental in securing critical oil infrastructure, with Tantita and security agencies making measurable progress in safeguarding pipelines and other oil facilities.
Okojie emphasized that the collaboration between private security firms, host communities, and government security agencies has helped dismantle several illegal tapping points, improved production levels, and enhanced the delivery of crude to export terminals.
Speaking at the event, the Speaker of the House of Representatives, Abbas Tajudeen, stressed the need for sustained efforts to secure Nigeria’s oil sector amid growing global energy uncertainty.
He pointed to geopolitical tensions, including the Middle East crisis and the Russia-Ukraine conflict, as factors contributing to volatility in global energy markets, noting that crude oil remains a dominant energy source, particularly in the transportation sector.
Tajudeen explained that the pipeline surveillance contract became necessary due to long-standing challenges in the Niger Delta, where weak enforcement, agitation, and economic hardship fueled pipeline vandalism, crude oil theft, and illegal refining.
According to him, Nigeria was at one point losing between 10 and 30 percent of its crude oil production to theft, costing the country billions of dollars annually and undermining its credibility as a reliable oil producer.
He said the Federal Government’s decision to engage private security firms and host communities was aimed at strengthening the protection of oil facilities, stressing that community participation has proven critical to the success recorded so far.
Tajudeen also highlighted the social impact of the initiative, noting that it has created jobs for thousands of youths in the Niger Delta, many of whom were previously involved in agitation and illegal activities.
Despite the progress, he acknowledged that challenges remain, particularly in the areas of transparency, accountability, and the effectiveness of certain surveillance frameworks.
He reaffirmed the National Assembly’s commitment to reforming the oil sector through legislation, oversight, and funding support.
 Tajudeen cited the Petroleum Production and Distribution (Anti-Sabotage) Act and the Petroleum Industry Act (PIA) as key legal frameworks that introduced stricter penalties for vandalism and enhanced community participation.
He explained that under the PIA, host communities risk losing benefits if vandalism occurs within their areas, thereby promoting a sense of shared responsibility in protecting oil infrastructure.
Tajudeen added that the 10th National Assembly has intensified oversight on the implementation of the PIA, conducted investigative hearings on oil theft, and approved funding for pipeline security.
He stressed that crude oil theft should be treated not only as an economic crime but also as a national security threat requiring coordinated action.
The Speaker described the roundtable as an opportunity to consolidate gains from the surveillance contract, address existing gaps, and strengthen transparency, accountability, and community engagement in protecting Nigeria’s oil assets.
Stakeholders at the roundtable also commended the collaboration between Tantita Security Services, security agencies, and host communities, noting that the partnership has strengthened surveillance across key oil facilities in the Niger Delta and contributed to improved crude production.
They urged the Federal Government to sustain the initiative while enhancing transparency and accountability mechanisms to consolidate the gains recorded in the fight against crude oil theft.
“We must position Nigeria as a reliable energy supplier in the global market,” Tajudeen said.
“The world is searching for energy security, and Nigeria must present itself as a credible alternative. We cannot afford internal sabotage. Our message is clear: Nigeria is securing its assets, stabilizing production, and remains open for business.”
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NSW team acknowledges challenges, assures of better days ahead 

— pledges to waive demurrage on containers caught in system glitches 

Funso OLOJO,  Editor

The Nigerian Revenue Service (NRS), the Nigeria Customs Service (NCS), and the Presidential Enabling Business Environment Council (PEBEC) on Tuesday conducted an assessment visit to the National Single Window (NSW) office in Apapa, Lagos, to evaluate progress, identify challenges, and chart a path forward for the newly launched trade facilitation platform.

NRS Chairman ,Dr. Zacch Adedeji, acknowledged President Bola Tinubu’s role in finally bringing the long-elusive project to fruition after multiple failed attempts of the past.

While reacting to concerns about teething problems raised by stakeholders, Dr Adedeji assured that the government would cushion the financial impact on traders grappling with initial operational difficulties.

“This is a special period. We will engage terminal operators and relevant stakeholders to ensure that demurrage charges are waived on affected containers,” Adedeji assured.

He attributed some of the delays to the complexities of migrating data from the old system, noting that not all transactions had been affected.

“When you have people that have delay, it is a certain percentage of the overall, some are smooth.

“The reason for that is migration from the old system. Imagine when you have the master manifest, you’ve shipped one in the old system and the other one is here,” he explained.

Adedeji also expressed appreciation for the broad acceptance the platform has received across the trade community.

“I thank Nigerians, because the success is just the adoption. If you look at it, you’ve not seen anyone say, no, this is not what we want to do, or this is what we want to do.

“So we thank Nigeria, we thank Mr. President,” he said.

On the teething challenges that have accompanied the rollout, Adedeji urged stakeholders not to lose heart.

“When you have a project of this magnitude, definitely you experience hitches. But if you look at where we’re coming from, there cannot be demoralizing.

“Instead of submitting cargo documents in 10 to 15 places, stakeholders are now submitting in one place.

“And even if you have delay, it is far, far less than going to seven places,” he said.

Comptroller-General of Customs, Bashir Adewale Adeniyi, described the visit as a working review of the system’s performance since launch and reaffirmed the service’s commitment to seeing it succeed.

“We are here to see what progress we’ve recorded, what challenges there have been, and what do we do moving forward to ensure that we get over those challenges,” he said.

Adeniyi was unequivocal about the long-term significance of the platform, saying that “National Single Window is here to stay.

“It will revolutionise the trading environment for good. It will definitely deliver benefits to the Nigerian economy, to make our trade environment more competitive.

“It will increase trade facilitation, no doubt about that. Of course, it will impact our economy,”

He acknowledged that glitches were to be expected with a deployment of such scale, adding that the team had been proactively addressing them.

“We’ve been experiencing those glitches, and we’ve been working together as a team under the National Single Window to confront those challenges and to ensure that we get over them and we move on.

“Initially, we had issues with uploading manifests from DHL. We got over that. We had issues with the shipping company. We got over that.

“Training is going on. There has been stakeholder acceptance, buy-in by all of them. You could see here that they are also undergoing those training programs,” he said.

Drawing on the experience with the Customs B’Odogwu platform, Adeniyi expressed confidence that the NSW team would overcome its current challenges faster, noting that similar complaints raised at the time of the B’Odogwu launch had since been put to rest.

PEBEC Director-General ,Zahrah Mustapha Audu, framed the NSW within the broader ease-of-doing-business agenda, describing it as a welcome solution for businesses engaged in import and export trade.

She acknowledged that software-related teething problems were inevitable but argued that the direction of travel was clearly positive.

“Yes, we will have teething problems because it’s a software, but something that is noteworthy is the fact that technology is constantly evolving.

“So as such, it’s good for us to get on board and to move with the trends. I see this as definitely progress for Nigeria,” she said.

Audu was optimistic about the prospect of achieving the administration’s cargo dwell time target.

“We started 2026 with the vision of reducing cargo dwell time to less than seven days. At this point, I’m becoming very optimistic because we’re in April.

“The system has been deployed. So hopefully, maybe we can even reduce it to three to four days, who knows, with the right political will, with the right determination, as well as cooperation from all the sister agencies who are involved in this process,” she said.

She pledged PEBEC’s continued collaboration with businesses across all sectors to ensure that government policies deliver tangible results, and congratulated the NSW team on the progress recorded so far.

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UN-POLAC appoints Prince Shittu as International peace advocate

Gloria Odion, Reporter 
In recognition of his outstanding contributions to peacebuilding and industry development, a respected maritime leader, mediator and business executive, Prince Olayiwola Shittu (JP), has been appointed as an International Peace Advocate by the Positive Livelihood Award Centre (UN-POLAC).
The prestigious appointment will be formally conferred during a special investiture ceremony scheduled for Wednesday, April 29, 2026, at the Lagos Oriental Hotel to mark the International Day of Multilateralism and Diplomacy for Peace.
UN-POLAC, established in 2001 and affiliated with the United Nations and UNESCO, was founded following the United Nations General Assembly’s declaration of 2001–2010 as the Decade for a Culture of Peace and Non-Violence.
The organisation’s mandate aligns with the Sustainable Development Goals (SDGs) and UNESCO’s culture of peace initiatives, with strong emphasis on peace, security and the restoration of human dignity.
Shittu’s nomination as an International Peace Advocate reflects his longstanding commitment to resolving disputes and promoting unity within the maritime sector.
As a two-time President of the Association of Nigeria Licensed Customs Agents (ANLCA) and Chairman of SKELAS Group, he is widely respected as a mediator between conflicting parties in the Nigerian maritime industry.
His leadership role as the Local Organising Committee Chairman of the Maritime Industry Merit Awards (MIMA) has further strengthened his reputation as a unifying figure within the sector.
According to the trustees of UN-POLAC, the appointment recognises Shittu’s integrity, dedication to community service and consistent efforts to promote social harmony, peaceful coexistence and cooperation among diverse groups.
The organisation noted that his leadership and conflict-resolution efforts have made him a role model in peace advocacy and industry development.
The appointment comes with several prestigious benefits, including a UN-POLAC Certificate of Appointment/Award, an international identity card, investiture apparel, a flag of authority to be hoisted at a location of his choice, and a special vehicle number plate in collaboration with the Federal Road Safety Corps (FRSC).
In his role as an International Peace Advocate, Shittu may be called upon to participate in peace-building initiatives, mediation efforts and programmes aimed at promoting positive living in line with global best practices.
The annual investiture ceremony serves as a platform for recognising individuals who demonstrate exceptional commitment to peace, leadership and community development.
This year’s event, which will take place in Lagos, is expected to attract key stakeholders from the maritime industry and other sectors of the economy.
In a letter of nomination signed by the Director-General of UN-POLAC, Prof. Halo B. Eton, the organisation conveyed its warm congratulations to Shittu, describing the appointment as a well-deserved honour in recognition of his enduring contributions to peace and distinguished leadership in the Nigerian maritime sector.
Reacting to the honour, Prince Shittu expressed gratitude and reaffirmed his commitment to advancing peace and unity.
His words: “I sincerely appreciate Positive Livelihood Award Centre (UN-POLAC) for this distinguished honour.
“I accept this appointment with deep humility and a strong sense of responsibility to further advance peace, unity and constructive dialogue within the maritime sector and the wider society.
“I remain fully committed to promoting harmony, mutual respect and sustainable development, while supporting initiatives that foster cooperation, stability and the collective progress of our nation and the global community.”
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