EFCC secures conviction of petty thieves. Big timers roam free
By Jeph Ajobaju, Chief Copy Editor
Some 2,210 court convictions were secured by the Economic and Financial Crimes Commission (EFCC) between January and the first week of August, raising the profile of the graft buster even as these are minor felons compared with crime barons.
EFCC Chairman Abdulrasheed Bawa announced the figure when he declared open a workshop for EFCC correspondents in Abuja.
He did not break down the list but going by what is often reported in the press, most EFCC convictions are of petty criminals such as Yahoo boys and similar scammers.
Fewer are the jailings of big time treasury looters who make away with billions of naira and fraudulent big fish politicians who swim unmolested in Nigeria’s ocean of corruption.
Regardless, Vanguard reports that Bawa said the 2,210 is the highest number of convictions by the EFCC, and urged journalists to synergise with the commission to tackle graft which does not recognise tribe, religion, and political leaning.
He disclosed EFCC intervention has reduced the exchange rate of the naira from N710 to the dollar to a reasonable level.
“We have to work together to save Nigeria from corrupt elements who have no interest of the country at heart,” Bawa pleaded with journalists.
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EFCC warns forex traders to stop naira speculation
Bawa had earlier this month met with bureau de change (BDC) operators in the Federal Capital Territory (FCT) as part of efforts to check foreign exchange (forex) speculation that buffets the naira.
He said he called the meeting to brainstorm collaborative stakeholders’ response to brazen forex speculation especially at the parallel market, which is hurting Nigeria’s monetary policy by instigating a run on the value of the naira, per Vanguard.
Bawa disclosed the EFCC has intelligence linking people and organisations to the hoarding of foreign currencies, especially the United States dollar, in the key commercial cities of Kano, Lagos, Port Harcourt, Enugu, and Calabar.
He warned them to desist or risk arrest in a major offensive underway.
The BDC operators thanked him for the meeting and expressed optimism that the rebound of the naira, which began after EFCC intervention some days prior, would see the currency return to its pre-speculation value.
Similar meetings are planned for other BDC operators in the major commercial cities across Nigeria as well as with key players, regulators, and financial sector operators.
