Ola Olukayode, Chairman of the Economic and Financial Crimes Commission (EFCC) disclosed that the agency has recovered N120billion and secured 1, 300 convictions in six months.

He also said the EFCC, in its bid to ensure the safety and stability of the foreign exchange market, has uncovered a new fraudulent scheme called P to P(Peer to Peer trading scheme.

The platform, according to him, is operating outside the official banking and financial corridors.

He said over 300 accounts linked to illicit foreign exchange have already frozen by the EFCC.

He reaffirmed the commitment of the commission to the economic growth and development of the country.

Olukoyede, who made the disclosures during a session with media executives in Abuja, said there is no going back in the commission’s plans to use anti-graft war to stimulate the economy.

He said: “Finally, we will continue our work towards the stimulation of the economy. I promise you that.

” Do you know the Binance case we are working on that has helped us to bring down this market? Suddenly we discovered that there are even people within the system that are doing worse than Binance.

” If you noticed, two days ago, the dollar started appreciating again. There was stability for like 24 hours, then the naira got devalued. It was due to the activities of some of these guys

” Just yesterday, they asked us to close over 300 accounts in illicit forex trading.

In one of these accounts, we noticed that the guy has cleared over N15 billion in the last one year. Nobody knew in the financial corridors.

” Over 300 accounts in illicit forex trading that would have led to another crash in the next one week if we didn’t move yesterday. Some people just want to see this country go from bad to worse. We must find a way to work together.”

” Suddenly, we discovered that there are people in the system who are even doing worse than Binance. They called them P2P (Peer to Peer) and all of that. We noticed in the last two days ago that dollars have started appreciating. There was stability for 24 hours, then the naira was devalued again by N20 and N25. I don’t know whether you noticed that.

“It was due to the activities of some of these guys on P2P platforms like coolcoin. Some of you must have seen them on social media. To shock you; just yesterday (Monday), I asked them to freeze over 300 accounts.

He told the media executives that the commission has recovered more than N120billion from fraudsters within six months and secured more than 1300 convictions.

He called on Nigerians to be more dedicated to the nation.

He insisted that patriotic Nigerians should offer more support to the EFCC because the commission is crucial to the growth and development of Nigeria.

Siminalayi Fubara, the Rivers State governor, has implemented a cabinet reshuffle in the state. Affected by the reshuffle are the Attorney General and Commissioner for Justice, Zacchaeus Adangor; and the Commissioner for Finance, Isaac Kamalu.

A statement on Tuesday signed by the Secretary to the Rivers State Government, Tammy Danagogo, announced that Fubara has redeployed Adangor to the Ministry of Special Duties (Governor’s Office) while Kamalu was transferred to the Ministry of Employment Generation and Economic Empowerment.

The statement directed both officials to hand over official documents related to their previous offices to their respective Permanent Secretaries, with the redeployments taking immediate effect. The statement emphasised that “All hand-over processes must be completed immediately.”

Both commissioners, who are loyalists of ex-governor Nyesom Wike, had previously resigned from their positions last December in the heat of the political crisis in the state and the rift between Fubara and his predecessor who is now the Minister of the Federal Capital Territory (FCT). However, they were reinstated as part of peace agreement initiated by President Bola Tinubu.

The Rivers State Government did not provide a reason for their redeployment.

The Economic and Financial Crimes Commission has taken into custody former Minister of Aviation, Hadi Sirika, in connection with an ongoing investigation related to money laundering amounting to N8,069,176,864.00.

The accused ex-Minister of Aviation made an appearance at the EFCC’s Federal Capital Territory Command around 1:00 pm on Tuesday.

Upon Sirika’s arrival at the EFCC FCT command, he is presently in questioning by EFCC investigators regarding alleged fraudulent contracts he authorized for a company called Engirios Nigeria Limited, which is owned by his younger sibling, Abubakar Sirika.