AFOLABI

AFOLABI

Less than two years into President Bola Ahmed Tinubu’s administration, some leaders of the All Progressives Congress (APC) have begun campaigning for his re-election in 2027.

Although neither the party nor the president has officially flagged off campaigns, top APC leaders, including the party’s National Chairman, Abdullahi Ganduje and the Secretary to the Government of the Federation (SGF), George Akume, have advocated the president’s second term.

 

Recently, Ganduje, while hosting APC support groups at the party’s headquarters in Abuja, urged politicians from the North eyeing the 2027 presidency to shelve their ambitions until 2031 when Tinubu would have completed his second term.

 

Akume, while speaking on a TVC programme, had also advised former Vice President and Peoples Democratic Party (PDP) presidential candidate in the last general elections, Atiku Abubakar and other northerners not to seek the exalted seat in 2027.

 

Seyi Tinubu intensifies Ramadan visits to states

Rivers lawmaker dismisses Fubara’s invitation

Campaigns for the president’s re-election were also observed to have commenced in Kaduna, Kebbi and Kwara states; while re-election billboards of the president have also been sighted at different locations in Abuja, the Federal Capital Territory (FCT).

 

This development has sparked reactions from opposition parties and political analysts who alleged that it is a violation of the Electoral Act and the 1999 Constitution (as amended).

 

Legal experts and political commentators argue that such premature campaigns undermine democracy, the rule of law and electoral discipline.

 

Legal framework for campaigns

 

Section 94 (1) of the Electoral Act 2022 (as amended) states: “For the purpose of this Act, the period of campaigning in public by every political party shall commence 150 days before polling day and end 24 hours prior to that day.”

 

Subsection 2 adds: “A registered political party which, through any person acting on its behalf during the 24 hours before polling day—(a) advertises on the facilities of any broadcasting undertaking; or (b) procures for publication or acquiesces in the publication of an advertisement in a newspaper for the purpose of promoting or opposing a particular candidate—commits an offence under this Act and is liable on conviction to a maximum fine of N500,000.”

 

Similarly, Section 95 (1) states: “A candidate and his or her party shall campaign for the elections in accordance with such rules and regulations as may be determined by the Commission.”

 

Campaign rally in Kebbi, endorsements in Kaduna, Kwara

 

Last month, the APC launched its campaign in Kebbi State for the re-election of President Tinubu and Governor Nasir Idris ahead of the 2027 elections.

 

The mega rally, held at the township stadium in Birnin Kebbi, was attended by the Minister of Budget and Economic Planning, Senator Atiku Bagudu; Governor Nasir Idris; House of Representatives member and Tinubu ally, James Abiodun Faleke; Minister of State for Education, Yusuf Tanko Sununu; and other APC leaders.

 

Tagged “We Stand with Tinubu and Kauran Gwandu,” the event saw a massive turnout, with supporters displaying banners and posters of Tinubu’s projected second-term bid.

 

Bagudu stated that both Tinubu and Governor Idris deserved re-election based on their performances, saying, “The Tinubu administration has done so much to improve Nigeria. The president has fulfilled his campaign promises to Kebbi, and I am proud to be associated with him.”

 

Bagudu also announced a donation of N450 million to Kebbi’s 225 wards for food distribution ahead of Ramadan and urged residents to continue supporting the APC-led government.

 

Governor Idris added: “The people of Kebbi are solidly behind President Tinubu because he has brought progress and development to our state.”

 

After the Kebbi event, APC leaders, including the Deputy Senate President, Barau I. Jibrin; the party’s National Secretary, Senator Ajibola Basiru; Minister of Agriculture and Food Security, Abubakar Kyari; and many others took turns to project Tinubu for re-election during an agriculture and human capital development empowerment programme organised by Senator Saliu Mustapha in Ilorin, Kwara State.

 

Last week, stakeholders of the party in Kaduna State passed a vote of confidence on both President Tinubu and Governor Uba Sani “for their exemplary leadership and pro-people policies.”

 

A statement by the state Secretary of the party, Yahaya Baba Pate, said the stakeholders gave the endorsement at a meeting held at the Kaduna State Liaison office in Abuja. This followed the endorsement of both leaders for a second term by the 255 councillors in the state.

 

At the weekend, during a reception organised by Ganduje and Senator Barau Jibrin, some members of the support groups of Atiku Abubakar, from the 19 northern states, while announcing their defection to the APC promised to “work for the continuation of Tinubu’s administration in 2027”.

 

Early campaign shows APC not for governance – Atiku’s aide

 

But reacting, Paul Ibe, the spokesman of Atiku in a chat with Daily Trust yesterday said that the individuals “are unknown to us.”

 

According to him: “We have groups we’ve been working with, and we are still working with those support groups. Anybody can claim anything for whatever it is they are doing it for, but we know clearly that the Tinubu administration has weaponized poverty, so all they are doing is that everybody survives through them, so probably it’s a furtherance of that goal,” he alleged.

 

On the early campaigns, he said, “it is unfortunate and clearly shows that they don’t have anything to offer. One would have thought for now the focus would be on governance; on how they could redeem themselves and make amends for the mess that they have created.

 

“But that is typical of APC. They are more used to politics than governance, and it clearly shows that Nigeria will continue to suffer for their inhumane policies”, he said.

 

2027 polls might be a charade’ – PDP NEC member

 

A PDP National Executive Committee member, Timothy Osadolor, said 2027 elections might be compromised if APC’s actions go unchecked.

 

Osadolor, who is also the PDP Deputy National Youth Leader, said: “When those in power violate the law, it becomes a recipe for disaster. If you go around Abuja, especially from the airport, you will see billboards of the president and his wife already campaigning for 2027. Who even knows what will happen next year or next week?

 

“If Nigerians do not demand constitutional order now, 2027 will be a charade. Being in government does not give a party the right to impunity. Previous presidents have respected electoral laws, but this administration bypasses the process, undermining Nigerians’ intelligence”, he said.

 

Buhari, Jonathan’s eras precedent

 

Daily Trust recalls that a similar scenario played out during President Muhammadu Buhari’s first term. In September 2017, the APC began campaigning for Buhari’s 2019 re-election. Likewise, in August 2017, Buhari’s supporters inaugurated a South-West office for his campaign organisation in Ibadan, even before the electioneering season officially commenced.

 

A similar scenario occurred under former President Goodluck Jonathan when the Transformation Ambassadors of Nigeria (TAN) led zonal rallies, urging him to seek re-election before the formal campaign season.

 

Campaigns illegal, height of impunity – Analysts

 

A political analyst, Jackson Lekan Ojo, described the early campaigns for Tinubu’s second term as illegal.

 

In a telephone interview with Daily Trust, Ojo said, “Campaigning for 2027 when Tinubu’s administration is less than two years old is a demonstration of high-level impunity and a flagrant disregard for the Electoral Act and the Constitution.

 

“Lack of performance is causing this. The ruling party is desperate to stay in power because it fears losing”, he said.

 

He added: “In a democracy, good governance earns votes. INEC must lift the ban on political campaigns before any party can start campaigning for votes. What APC leaders are doing is an insult to the nation and makes Nigeria a laughing stock.”

 

A political scientist, Professor Abdulrauf Ambali, stated: “It is very obvious that what many of them are doing goes against the Constitution and the Electoral Act. INEC has not declared the commencement of any campaign, yet we see them acting as they please. This clearly violates the law, but they justify it within their party structures. Any political campaign must follow officially established timelines.”

 

He called for stricter enforcement of electoral regulations, arguing that such actions undermine the current administration.

 

“However, many of those involved are part of the government itself. This will create instability, confusion, and further strain a polity already suffering from economic hardship,” he added.

 

Similarly, Hassan Seyid Cisse, a lecturer in Politics and Governance at the Kwara State University described the situation as a strategic move.

 

“This is already 2025, and a government with good strategists will not wait until the challenge is imminent before making plans. We are seeing posters in some states in preparation for 2027. However, in relation to the Electoral Act, it is still premature campaigning since the official ban has not been lifted,” he explained.

 

Cisse cited political theorist, Nicholas Spykman, arguing that “he who controls the law is not affected by it.” He noted that the current leadership, seeking re-election in 2027, is in control of power.

 

“But this will have significant implications for governance. Printing posters and organising these rallies means diverting funds that should be used for productive purposes to an election still over two and a half years away,” he concluded.

 

Presidency mum

 

Efforts to get a reaction from the Presidency on the development were unsuccessful.

 

The Special Adviser to the President on Information and Strategy, Bayo Onanuga and the Special Adviser to the President on Policy Communications, Daniel Bwala, could not be reached for comment.

 

Telephone calls as well as text and WhatsApp messages sent to them by Daily Trust were not responded to.

The Peoples Democratic Party (PDP) is considering an extension for the sale of its expression of interest (EOI) and nomination forms for the upcoming Anambra State governorship primary, following concerns over the party’s participation in the November 8 election.

 

Initially scheduled between February 26 and March 5, the sale of forms had been set at N5 million for expression of interest and N35 million for nomination.

 

However, sources disclosed to Daily Sun that due to the lack of interest from aspirants, the party is considering extending the deadline to March 12.

 

Reports suggest that no aspirants have purchased the nomination forms, largely due to the ongoing leadership dispute between Senator Samuel Anyanwu and Sunday Ude-Okoye over the position of PDP National Secretary.

 

The Court of Appeal, Enugu Division, had ruled in December that Ude-Okoye was the rightful nominee for the position, but Anyanwu has since appealed the decision at the Supreme Court.

 

Speaking to Daily Sun, PDP National Publicity Secretary, Debo Ologunagba, confirmed that the party’s National Working Committee (NWC) had resolved to extend the sale of forms. However, he refuted claims that no nomination forms had been sold.

 

“We want to give more room for people to participate. That is the essence of democracy,” Ologunagba stated. “It is not correct that people have not collected forms. If that is part of your story, then it will be fake news.”

 

He emphasized that extending the deadline was a routine practice and unrelated to the Supreme Court case over the national secretary position. The party is expected to release an official statement on the new deadline soon.

Pastor Enoch Adeboye, the General Overseer of the Redeemed Christian Church of God (RCCG) has revealed he rejected a prayer to be 140 years.

 

He made the revelation during a sermon.

 

He recalled how some of his followers prayed for him to live to different ages. He said when they prayed for him to reach 80 years, he responded with a hearty “Amen.”

 

Similarly, when they prayed for him to live up to 90, he accepted the prayer. However, when the number increased, his response changed.

 

He said: “When I was 70 years old, some children of mine began to pray for me. And they said, ‘Daddy, you will live to be 80,’ I said Amen. ‘You will live to be 90,’ I said Amen. They said, ‘You will live to be 100,’ I didn’t answer them.

 

“And then one fellow got excited and said, ‘You will live to be 120,’ I said na lie! What will God say I have done wrong? I have been here for 70 years, He will now keep me here for another 50 years? In this world?

 

“Where today you have electricity, tomorrow you don’t have? But there was one lady who got really excited, and said, ‘You will live to be 140,’ I said no be me.”

The outspoken son of the immediate-past Kaduna State governor, Bashir El-Rufai has on Monday displayed the logo of the Social Democratic Party (SDP) on his verified Facebook page amidst his father’s defection rumours.

 

Although, Bashir only posted the SDP logo without any written words.

 

El-Rufai

 

Bashir’s father, former governor Nasir El-Rufai has intensified consultations with influential and notable politicians across the country including former President Muhammadu Buhari, former Vice President Atiku Abubakar among others for the formation of a mega party or formation of coalition to defeat President Bola Tinubu and the ruling All Progressives Congress (APC) in 2027 presidential elections.

 

El-Rufai has on different occasions denied defection rumour saying he is still APC member.

United States President Donald Trump has criticised the Joe Biden administration of allegedly misusing taxpayer funds, citing over $8 million spent on transgender-related experiments involving mice.

 

His remarks quickly sparked debate, with major news outlets fact-checking his claims.

 

However, a review of federally funded research projects confirmed that the National Institutes of Health (NIH) indeed allocated millions to studies examining the effects of hormone therapy on mice.

 

According to available grant records, the NIH provided funding for various research projects related to gender and hormone therapy in animal models.

 

“These studies, conducted by research institutions across the country, explore topics ranging from reproductive health to immune responses in the context of hormone treatments,” the White House stated.

 

Among the projects funded are $455,000 for a study titled “A Mouse Model to Test the Effects of Gender-Affirming Hormone Therapy on HIV Vaccine-Induced Immune Responses,” $2.5m for “Reproductive Consequences of Steroid Hormone Administration.”

 

Researchers noted that “these mice manifest defects in ovarian architecture and have altered folliculogenesis.”

 

Also, $299,940 was also used for research on “Gender-Affirming Testosterone Therapy on Breast Cancer Risk and Treatment Outcomes.” The study compared breast cancer risk in female mice receiving testosterone therapy versus those that do not, $735,113 to examine the “Microbiome Mediated Effects of Gender-Affirming Hormone Therapy in Mice.”

 

Trump also alleged that Biden used $1.2m for a study on “Androgen Effects on the Reproductive Neuroendocrine Axis,” which investigated the role of androgens in reproductive hormone regulation using transgenic mice, and $3.1m for research on “Gonadal Hormones as Mediators of Sex and Gender Influences in Asthma.”

 

Scientists involved in the project stated, “We will study the contributions of estrogens to HDM-induced asthma outcomes using male and female gonadectomized mice treated with estradiol.”

 

In total, the projects amount to $8,290,053 in federal funding.

 

Trump’s remarks have added fuel to ongoing political debates about government spending and scientific research priorities. “The Biden administration is wasting millions on transgender experiments on mice while Americans struggle with inflation and rising costs,” Trump declared.

 

Meanwhile, media outlets and fact-checkers have responded by analysing the studies in question. While some experts argued that such research was essential for understanding hormone therapies’ broader medical implications, critics contend that taxpayer dollars should be directed toward more immediate public health concerns

The opposition All Progressives Congress (APC) has called Rivers State governor, Sir Siminalayi Fubara, to resign from office honourably within 48 hours or be impeached by the State House of Assembly.

 

Chairman of APC in the state, Chief Tony Okocha, made the call on Monday morning while briefing journalists at his private residence in Port Harcourt, the state capital.

Okocha accused Fubara of insulting President Bola Tinubu, when he attempted to proffer a political solution to the crisis in the state.

 

He said: “As a political party, we are today advising the governor; there are two options, resign honourably or be impeached. That is the position of the All Progressives Congress. He has disrespected Mr. President and we told him that we cannot be here and have him to disrespect Mr. President.

 

“The offences are there; the Supreme Court has agreed and even provided us with more evidences. The House of Assembly does not need to set up any committee again to investigate him.

 

“48 hours is too much to give him as ultimatum. He should just resign honourably.”

 

Details Later….

Former governor of Kaduna State, Nasir El-Rufai, visited ex-Minister of Interior, Rauf Aregbesola, and Pastor Tunde Bakare, in Lagos on Sunday.

Photographs of the Kaduna politician posing with Aregbesola and Bakare went viral on social media.

While El-Rufai’s discussion with the two politicians was not revealed, it is believed that the visits were part of his political scheming ahead of the 2027 general elections.

El-Rufai has in recent times been very critical of the ruling All Progressives Congress and President Bola Tinubu.

 

The Kaduna politician blamed Tinubu for his rejection by the National Assembly during ministerial screening.

Aregbesola, a former ally of Tinubu, recently dumped the APC alongside his supporters in Osun State.

Bakare lost the APC presidential ticket to Tinubu ahead of the 2023 presidential poll and he has also been critical of the government of the day.

In recent times, El-Rufai, a chieftain of the ruling APC, has also been found hobnobbing with opposition politicians, including the 2023 Peoples Democratic Party presidential candidate, Atiku Abubakar.

His Sunday visit to Aregbesola and Bakare was disclosed by Muyiwa Adekeye, El-Rufai’s media adviser, in a tweet on Sunday.

“Malam Nasir @elrufai was in Lagos today to visit Ogbeni @raufaregbesola and Pastor Tunde Bakare,” Adekeye wrote.

 El-Rufai’s meeting with both men is coming days after visiting former President Muhammadu Buhari in Kaduna.

The former Kaduna governor’s visit to Lagos has fuelled fresh conversations about his political future and possible strategic alliances ahead of the 2027 elections.

The former minister of the Federal Capital Territory was recently in the news when he granted an interview on Arise Television, where he accused Tinubu of deliberately dropping him from his list of ministerial nominees.

He also slammed the National Security Adviser, Nuhu Ribadu, for undermining the North over his alleged 2031 presidential ambition.

In the interview, the former Minister of the Federal Capital Territory hinted at leaving the ruling APC, saying the party had already abandoned him.

When asked if he would be supporting the President’s re-election bid in 2027, the Kaduna politician dodged the question, saying he wasn’t even certain if he would still be in the APC by then.

His perceived anti-party activities had made the National Publicity Secretary of the APC, Felix Morka query his true motive at the end of the just concluded National Executive Committee meeting in Abuja.

When called for a reaction regarding El-Rufai’s recent visit to Aregbesola and Bakare, the National Secretary of the APC, Senator Ajibola Basiru, initially declined, saying the party cannot continue to give his activities needless attention.

When pestered further, the Osun party chieftain said the former governor is the least of their worries at the moment.

He said, “We don’t have any comment. Anybody who wants to worry about his movements is free. So far he is a Nigerian, El-Rufai is free to visit anybody he likes.

“We have more serious work to do than to comment on anybody roaming around.”

The National Deputy Organising Secretary of the party, Nze Chidi Duru also expressed the belief that El-Rufai has the freedom to mingle and associate with whoever he wants.

He said, “You remember that he once visited Aregbesola when he was governor. But at the end of the day, returned and supported Mr President. In recognition of that, there is freedom of association, which is very important. And it is good that he is exercising it to the highest.

“There is no restriction with respect to that. So I don’t think any meaning should be read into his recent visits other than a meeting of friends. At the end of the day, if it leads to something beyond that, we then need to make demands.

“So it is not every visit that we should give political colouration or gain.  I am not even thinking about it. It is like me going to visit a political friend and it then becomes a national issue. If there is something that comes out of such association, we can then comment about it.”

The Nigeria National Petroleum Company (NNPC) Limited has discontinued the naira-for-crude deal with Dangote Petroleum Refinery and other local refineries, TheCable understands.

The development could trigger an uptick in the pump price of petrol as local refineries — including Dangote — will now rely on international suppliers for feedstock, gulping huge costs in dollars.

The NNPC reportedly told the refineries it has forward-sold all its crude, although production is now said to be higher than when the deal commenced.

 

Nigeria officially commenced the sale of crude oil and refined petroleum products in naira to local refineries on October 1, 2024.

 

The move was meant to improve supply, save the country millions of dollars in petroleum products imports, and ultimately reduce pump prices.

However, multiple sources said the initiative will be suspended until 2030.

A high-level source confirmed that the NNPC has notified Dangote Petroleum Refinery and other local refiners that it will no longer provide crude oil to them, as it has forward-sold all of its crude supplies until 2030.

 

Despite recent attempts to bolster domestic refining capacity, the country has spent “over $4.3 billion importing 6.38 billion litres of premium motor spirit (petrol) and automotive gas oil (diesel) in just five months”, industry sources said.

 

The NNPC is said to be among the entities still importing products, an act backed by the recent deregulation of the downstream sector.

Another source said at a time when Nigerians are hoping for further price reductions, “the NNPC unilaterally decided to end the naira-for-crude initiative”.

TheCable has contacted the NNPC for comments.

 

While the Dangote refinery has declined to comment on the NNPC’s recent move, an official said the company will carefully assess its options and decide on the appropriate course of action.

The decision to stop the naira-based crude supply might lead to volatility in the foreign exchange (FX) market, thereby eroding recent gains, according to market analysts.

THE TROUBLED CRUDE-FOR-NAIRA DEAL

In October 2024, the federal executive council (FEC) approved the allocation of 450,000 barrels of crude intended for domestic consumption to be sold in naira to Nigerian refineries, with the Dangote refinery serving as a pilot project.

 

Under the scheme, the NNPC was expected to supply 385,000 barrels per day of crude oil to the Lekki-based refinery.

However, the national oil firm has been accused of consistently failing to meet the allocation.

 

In November 2024, the refinery said the crude-for-naira initiative was faltering, as it was still unable to secure adequate supplies.

“We need 650,000 barrels per day, (state oil firm NNPC Ltd) agreed to give a minimum of 385,000 bpd but they are not even delivering that,” Edwin Devakumar, the vice-president of Dangote Industries Limited (DIL) had said.

 

He further described the NNPC’s supply as “peanuts”.

Nigeria’s petrol imports surged in 2024, doubling despite an increase in domestic refining capacity, highlighting the country’s continued reliance on imported fuel, according to findings by The PUNCH.

The latest data from the foreign trade statistics report of the National Bureau of Statistics showed that the cost of petrol imports rose by 105.3 per cent to N15.42tn in 2024 from the N7.51tn recorded in 2023.

This sharp increase in fuel import expenditure came at a time when expectations were high for a decline in reliance on foreign supply following significant investments in local refining.

The commencement of operations at the 650,000-barrel-per-day capacity Dangote Petroleum Refinery last year and ongoing revival efforts at the other local refineries were expected to reduce import dependence.

 

However, existing data suggests that these refineries have yet to reach full production capacity to meet domestic demand.

Over the past five years, Nigeria’s petrol import bill has steadily risen. In 2020, the country spent N2.01tn on fuel imports, more than doubling to N4.56tn in 2021.

By 2022, the figure further increased to N7.71tn before slightly declining to N7.51tn in 2023. However, in 2024, fuel import expenditure surged to an all-time high of N15.42tn, marking the largest petrol import bill in Nigeria’s history.

 

The PUNCH had earlier reported that despite the commencement of petrol production by three major refineries in Nigeria, oil marketers had continued to import and distribute the product nationwide.

Marketers imported 2.3 billion litres of petrol between September 11 and December 5, 2024. The continued importation of petrol is contrary to a public announcement by some group of marketers who earlier stated their intention to halt petrol imports and focus on domestic supply.

The local refineries are the 650,000 barrel per day capacity Dangote Petroleum Refinery located in Lagos and the 210,000bpd capacity Port Harcourt Refining Company in Rivers State. PHRC currently produces from its old plant with a capacity of 60,000bpd.

Also, the Warri Refining and Petrochemical Company commenced operations in December 2024. PHRC and WRPC are both under the management of the Nigerian National Petroleum Company Limited.

The PUNCH also reported that despite improved domestic refining capacity in Nigeria, major oil marketers have continued to import refined petroleum products, as they imported 6.38 billion litres of Premium Motor Spirit (petrol) and Automotive Gas Oil (diesel) in the past five months.

But independent marketers and retailers, through their various associations, kicked against the development, as the importation of these commodities gulped about N6tn, a development that further piled pressure on the country’s forex.

The Executive Secretary of the Major Energies Marketers Association of Nigeria, Clement Isong, earlier said that importation promotes competition, helping drive down the price of PMS.

 

Commenting on fuel importation, he explained, “What importation does for us is that it contributes to the market’s competitiveness. The price movements you are enjoying and the market competition are the result of importation. Importation is useful.

“We want local refining. Let’s be clear. We want local refining. What ensures that we have the most competitive price is that locally refined fuel prices have to compete with imported prices. That is what keeps our prices at the pump as low as possible,” the MEMAN leader asserted.

The Economic and Financial Crimes Commission has secured a total of 4,111 convictions in 2024.

According to the commission, the conviction was the highest number in any operational year since its inception.

The commission also recovered significant sums across multiple currencies, totaling $214.5m, N364.6m, £54,318, €31,265, and various other amounts in different currencies.

This was contained in a document obtained by The PUNCH.

 

“In 2024, the commission secured 4,111 convictions. This is the highest number of convictions secured in any operational year from inception to date. This laudable achievement is attributable to the dedication of our officers and the enabling environment provided by the management and stakeholders of the commission.

“The commission remains committed to enhancing the knowledge and capacity of its prosecutors and the judiciary,” the document stated.

Beyond monetary recoveries, the EFCC also seized significant assets, including 70 tons of unidentified solid minerals and various cryptocurrencies, including Ethereum, Green Satoshi Tokens, and Tether coins, among others.

 

“$ 214,513,439.55, N364,597,370,151.35; £54,318.64 ; €31,265.00; CAD $2,990.00; AUD $740.00; CFA 7,821,375.00; UAE DIRHAM 170.00 ; RIYALS 5,115.00 ; W 73,000.00 ; ¥ 105.00 ; GH¢ 225.00 and RAND 50.00 were recovered in 2024.

“Assets recovered are 70 tons of unidentified solid minerals; 40,844,094 units of shares worth about N1,055,190,044.55 and $4,414,801.76; 13.37BTC worth about $572,992.86, 5.97886094 ethereum worth $13,353.06, 298.4770071 green Satoshi token worth $6, 1,002.547631, ($1,002.22), sum of N2,699,233 and N9,477,977,318.78, $2,605,858.30 and GBP1,600, cash among others.

“Some of the monetary recoveries made by the commission have been reinvested by the Federal Government into initiatives that provide significant benefits to the Nigerian people.”

The EFCC stated that the most prevalent cases investigated in 2024 involved advance fee fraud, money laundering, and cybercrime.

It added that several socio-economic factors, including rising unemployment, the pursuit of quick wealth, and weak regulatory frameworks, contributed to the high volume of the cases.

The anti-graft agency said, “The commission is actively advancing its investigative efforts across all zonal directorates. In 2024, cases involving advance fee fraud, money laundering, and cybercrime were the most prevalent in our investigations.

“The high volume of these cases can be attributed to several factors, including rising unemployment, a desire for quick wealth among the youth, a large informal economy, and weak regulatory frameworks”

 

The commission also raised the alarm that

cybercriminals are constantly evolving their tactics, utilising AI-driven fraud.

“Additionally, cybercriminals are continuously evolving their tactics, incorporating innovations like AI-driven fraud, deepfakes, and advanced phishing schemes,” it stated.