News
Mrs. Jonathan in Fresh Trouble over $15.5m
Detectives have stepped up the probe of former First Lady Mrs. Patience Jonathan by retrieving her service records from the Government of Bayelsa State.
According to the Nation, the retrieval of her records is part of the screening of her salary and emoluments as a retired permanent secretary to determine whether her earnings could match the 13 assets traced to her.
Besides the assets, the former First Lady is laying claim to $15.5m in some domiciliary accounts.
The anti-graft agency has written the Rivers State Ministry of Lands and Survey for details on some assets linked with the former First Lady and a former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, in Port Harcourt, the Rivers State capital.
But officials have blocked access to the documents.
Some of the officials may be investigated for obstructing justice, a source said last night.
It was unclear yesterday whether or not the said officials were acting on orders.
A source close to the investigation said there was no where in the records where the ex-First Lady earned foreign exchange as emoluments and estacodes amounting to over $15.5million she is claiming to own.
An EFCC source said: “This agency has retrieved the original service records of the ex-First Lady from Bayelsa State. Preliminary analysis of her records revealed a lot of discrepancies including issues regarding special promotions given to her which were faulted even by the Office of the Head of Service.
“More importantly, from her records, especially her pay packet of N700, 000, there is nowhere she earned as much as $1million not to talk of over $15million, which she is claiming ownership of.
“We have to go through her records and pay slips to prove that the $15million in question was undeserved and should be seized by the court. All her official estacodes and emoluments were not up to the amount being claimed.
“As far as we are concerned, she has questions to answer in line with Section 7 of the EFCC Act.”
Section 7 of the EFCC Act says: “The commission has power to (a) cause any investigations to be conducted as to whether any person, corporate body or organisation has committed any offence under this Act or other law relating to economic and financial crimes.
“(b) Cause investigations to be conducted into the properties of any person if it appears to the commission that the person’s lifestyle and extent of the properties are not justified by his source of income.”
It was also discovered that although she retired on October 15, 2014, the voluntary retirement was approved on 12th May, 2015.
But detectives are trying to analyse her pay slip to know if she received salaries for eight months after her notice of voluntary retirement.’
“If she did receive salaries within the eight-month period without any refund, she might be liable for another offence. A letter acknowledging her voluntary retirement was specific that any extra salary after notice of retirement ought to be paid,” the source said.
A 12th May, 2015 letter signed by Mrs. Biobelemoye Charles-Onyema, the Permanent Secretary of the Civil Service Commission, confirmed the acceptance of the retirement of the ex-First Lady.
The letter from the Bayelsa State Civil Service Commission to the ex-First Lady said in part: “I am directed to refer to Establishment Circular No. 7/1999 of 5th October, 1999 and to inform you that the Civil Service Commission at a meeting held on 12th May, 2015 approved your voluntary retirement from the Bayelsa State Civil Service as a Permanent Secretary (Consolidated Salary with effect from 15th October 2014.
“I am further directed to inform you to handover all government properties in your possession to the most senior director in your ministry and report to the Permanent Secretary, Establishment, Training and pensions Bureau, Governor’s Office, Yenagoa with your appointment papers and other relevant documents for processing of your retirement benefits.
“Any salary earned after 15th October 2014 will be deducted from your gratuity.”
Meanwhile, the anti-graft agency has written the Rivers State Ministry of Lands and Survey for details on some assets linked with the former First Lady in Port Harcourt.
But the ministry’s officials were said to have blocked access to the relevant documents by the EFCC.
Of 13 properties allegedly linked with the ex-First Lady, eight are said to be in Port Harcourt.
The assets in Port Harcourt are former Customs Service officers mess; two duplexes on 2/3 Bauchi Street; landed property with blocks at Ambowei Street; three Luxury apartments of four bedroom each at Ambowei Street; and Grand View Hotel on Airport Road.
The assets in Yenagoa include two marble duplexes at Otioko GRA by Isaac Boro Expressway; Glass House on Sani Abacha Expressway, which is housing Nigerian Content Development and Monitoring Board; Akemfa Etie Plaza by AP filling Station, Melford Okilo Road; and Aridolf Resort, Wellness and Spa on Sani Abacha Expressway.
Another top EFCC source, who spoke in confidence, said: “We have officially written the Ministry of Lands and Survey for details on some of the assets of the ex-First Lady and a former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke in Port Harcourt but they have not been forthcoming.
“Up till now, they have not made relevant documents available to the EFCC. It is a kind of blocking of access to these land titles which are vital to our investigation. We don’t know whether or not they are acting on orders from above.
“We are hopeful that the officials will cooperate with us. But it is certainly a punishable offence to obstruct investigation by EFCC and other anti-crime agencies.”
Federal Airports Authority of Nigeria (FAAN) has announced plans to introduce a biometric identity verification system, known as V-Pass, to speed up passenger processing and enhance security at domestic airports nationwide.
This initiative is aimed at strengthening aviation security, reducing passenger processing time and eliminating dependence on physical identity documents.
A statement issued yesterday by Henry Agbebire, director of Public Affairs and Consumer Protection, FAAN, said the new facial recognition platform, developed in partnership with Verxid Technologies Limited, would enable passengers to verify their identities through biometric authentication, allowing them seamless access through airport security checkpoints and boarding gates.
According to him, the initiative formed the focus of a strategic meeting between FAAN and Verxid Technologies Limited, where both organisations reviewed deployment plans, security safeguards and measures to improve passenger experience.
The statement hinted that the authority centred on ensuring the successful rollout of the digital platform while maintaining high security standards.
The statement quoted, Adebola Agunbiade, director of Commercial and Business Development, FAAN, as describing the V-Pass as another milestone in the authority’s ongoing digital transformation programme.
According to her, the platform indicated FAAN’s commitment to deploying innovative technology that enhances passenger facilitation while reinforcing aviation security across domestic airports.
She assured that the system would provide every traveller with a secure digital identity through a one-time enrolment process.
Under the arrangement, Nigerian passengers would register using their National Identification Number (NIN) alongside facial biometric capture, while foreign travellers would enroll with their passports through Optical Character Recognition (OCR) supported by biometric authentication, the statement added.
FAAN said the system would verify passenger identities before they gain access to restricted airport areas and once again before boarding their flights.
The agency noted that the dual-verification process was designed to prevent identity fraud, impersonation and unauthorised access to airport facilities, while giving security agencies greater confidence in passenger authentication.
Passengers would be able to complete the verification process either through self-service kiosks or with assistance from trained FAAN personnel.
The deployment would also include electronic gates to automate access into controlled areas, reduce queues and improve passenger movement across airport terminals.
According to the developers, first-time registration is expected to take about one minute, while subsequent biometric verification would take less than 30 seconds.
Apart from passenger processing, the V-Pass platform would also provide airlines with secure digital access to flight schedules, passenger manifests and boarding statistics.
FAAN assured travellers that data protection remained a critical component of the project, stressing that the platform fully complies with the Nigeria Data Protection Regulation (NDPR).
The Central Bank of Nigeria (CBN) has launched a new system to monitor how Bureau De Change (BDC) operators buy foreign exchange in the country.
Under the new arrangement, all licensed BDCs must report their foreign exchange purchases through a platform called the FX BDC Purchase Tracker (FXBT). The portal will allow the CBN to monitor transactions in real time or on the same day they take place.
The directive was announced in a circular dated July 15, 2026, and signed by the Director of the CBN’s Trade and Exchange Department, Aderinola Shonekan.
According to the apex bank, the new framework is designed to support its February 2026 policy that allows licensed BDCs to buy foreign exchange directly from authorised dealer banks in the Nigerian Foreign Exchange Market (NFEM).
The CBN said the initiative will improve transparency, strengthen compliance, increase liquidity in the retail forex market, and ensure proper participation by market operators.
A major feature of the framework is the FXBT portal, which will serve as a central database for tracking all foreign exchange purchases made by BDCs from banks.
Under the guidelines, every licensed BDC must register on the platform and submit transaction details either in real time or on the same day the transactions occur.
The CBN stated that the system will help regulators identify violations, detect suspicious transactions, monitor compliance with market rules, and improve confidence in the foreign exchange market.
The framework builds on the CBN’s February 2026 decision to allow licensed BDCs back into the official foreign exchange market. Under that policy, each eligible BDC can purchase up to $150,000 weekly from authorised dealer banks at market rates.
The apex bank said only BDCs with valid licences will be allowed to access foreign exchange through the framework. Operators whose licences have been suspended or restricted due to regulatory issues will not be eligible until those restrictions are lifted.
The CBN also directed banks to carry out thorough Know Your Customer (KYC) and customer due diligence checks before onboarding any BDC. Required documents include valid operating licences, Tax Identification Numbers (TIN), Corporate Affairs Commission (CAC) registration documents, and information on beneficial ownership.
Banks have also been warned not to sell foreign exchange to BDCs that fail to meet the required compliance standards.
To encourage fair competition, the CBN said BDCs can buy foreign exchange from any authorized dealer bank of their choice. Banks are prohibited from forcing BDCs into exclusive arrangements or charging referral fees that limit their ability to transact with other banks.
Under the new process, BDCs must submit electronic requests for foreign exchange through a bank’s designated portal. Banks are required to acknowledge requests within two business hours and communicate approvals or rejections immediately after processing.
Requests can only be rejected for valid reasons, such as incomplete documentation, exceeding weekly purchase limits, unresolved compliance concerns, or internal risk management issues.
The CBN also introduced stricter rules on how purchased foreign exchange can be used. All transactions between banks and BDCs, as well as between BDCs and customers, must be conducted through accounts held with licensed financial institutions. Third-party transactions remain prohibited.
In addition, BDCs are not allowed to keep unused foreign exchange purchased through the official market. Any unused funds must be sold back into the market within 24 hours after the permitted usage period expires.
The apex bank warned that failure to comply could lead to forfeiture of funds and suspension from the market.
BDC operators must also disclose any unused balances from previous allocations when applying for new purchases, while banks are expected to consider those balances when calculating weekly allocations.
Beyond reporting through the FXBT portal, BDCs must continue submitting weekly reports to the CBN. These reports must include details of foreign exchange purchased from banks, sales to end users, unused balances, and settlement records.
The CBN said the reporting requirements will improve transparency and help regulators better monitor foreign exchange flows in the retail market.
The bank warned that violations of the framework could attract penalties under the Banks and Other Financial Institutions Act (BOFIA) 2020 and the Foreign Exchange Act. Sanctions may include fines, suspension from the foreign exchange market, withdrawal of BDC licences, revocation of banks’ authorised dealer status, and referrals to law enforcement agencies where necessary.
The CBN’s Trade and Exchange Department will oversee compliance through regular and surprise inspections carried out in collaboration with other departments.
The apex bank said the new directive is part of its wider efforts to reform the foreign exchange market, improve transparency, boost liquidity, and restore confidence in the system.
Concerns over compliance breaches, speculative trading, and abuse of foreign exchange allocations had continued even after BDCs were reintroduced into the official market earlier this year.
The Corporate Affairs Commission (CAC) has announced the commencement of another exercise to remove 100,000 companies from Nigeria’s register of companies for failing to comply with statutory requirements under the Companies and Allied Matters Act (CAMA), 2020.
In a public notice issued on Thursday, and dated July 15, 2026, the commission said the exercise was being carried out pursuant to Sections 692(3) and 692(4) of the Companies and Allied Matters Act, 2020.
The notice stated: “This is to notify the General Public and Esteemed Customers that the Corporate Affairs Commission has commenced another round of striking off names of companies from the Register pursuant to the provisions of Section 692 (3) and (4) of the Companies and Allied Matters Act, 2020.”
According to the commission, the affected companies are listed on its official website.
“The list of the affected One Hundred Thousand (100,000) companies can be accessed at the Commission’s Website,” the notice said.
The CAC directed all affected companies to update their records by filing outstanding annual returns and beneficial ownership information within 90 days.
“The affected companies are hereby advised to take steps to file all outstanding Annual Returns (and by extension Persons with Significant Control/Beneficial Ownership information) and regularize their records within ninety (90) days of this notice,” the commission said.
It added that companies must send proof of compliance to the designated email address, [email protected], within the stipulated period.
The commission warned that failure to comply would result in the affected companies being removed from the register without any further notice.
“Please note that companies that fail to comply within the stipulated timeline shall be struck off the Register without further notice,” the notice stated.
The CAC reiterated its commitment to improving service delivery, saying, “The Commission remains committed to providing prompt and efficient services to the satisfaction of our valued customers.”
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