EFCC: Governors On EFCC Watchlist Have Increased Since Naira Redesign

The number of governors on the Economic and Financial Crimes Commission's (EFCC) radar has increased, according to Abdulrasheed Bawa, EFCC Chairman. After his meeting with President Muhammadu Buhari, he made this disclosure while briefing reporters at the White House.

Both the number of governors now on their radar and their names were withheld by Bawa.
The head of the EFCC went on to say that the organization's anti-corruption division is pleased with the redesign of the naira note, explaining that the move would help the Central Bank of Nigeria (CBN) keep track of the money in circulation and, consequently, make it easier for people to borrow more money.
As an economics student, Bawa reiterated his conviction that the redesign of the naira will result in a decline in the value of the dollar from its current level of 890 to 200 naira.

He states that the sting operations against the Bureau De Change (BDC) operators were successful and resulted in significant recoveries. Bawa once more exhorted Nigerians to accept the new policy and asked them to utilize the whistleblower program. The anti-graft czar said two weeks ago that three currently-in-office state governors are being watched for attempts to launder money by paying employees' salaries under the table.

Although he did not identify them, the EFCC chief stated that two of the governors were from the North and the third was from the South of the nation. He pointed out that information at the agency's disposal showed that the three governors had come up with strategies to inject the money into the system by paying their state employees' wages under the table.


References
Channelstv, 'Naira Redesign: Governors On EFCC Watchlist Have Increased – Bawa' (online, 2022) <https://www.channelstv.com/2022/11/17/naira-redesign-governors-on-efcc-watchlist-have-increased-bawa/>.