General News
Clark, Ijaw Leader Says EFCC Has Lost Focus
Chief Edwin Clark, jIaw leader and former Minister of Information, has called on President Goodluck Jonathan to reorganise the Economic and Financial Crimes Commission (EFCC) to give the anti-graft agency more powers to fight corruption and other related financial crimes in the country.
Clark who while addressing a press conference yesterday in Abuja said that “Given that nothing substantially is being done to fight corruption, one is primed to advise Mr. President to immediately reorganise the EFCC to effective discharge of its mandate.
“In all advanced democracies, anti graft agencies would swing into action following the kind of revelations and allegations against most people walking free on our streets today. Unfortunately our own anti graft agencies have simply adopted a sidon look position. What a shame.”
According to him, with the renewed offensive against the Boko Haram led insurgency that the All Progressives Congress (APC), Presidential candidate, General Muhammadu Buhari had nothing more to offer as his campaign promise was hinged primarily on fighting the insurgents.
Clark said, “General Muhammadu Buhari has always anchored his campaign promises on two cardinal planks: to wipe out insecurity and corruption. With the renewed offensive against the terrorists leading to the killing and dislodgement of the Boko Haram anarchists, the first campaign plank of Buhari has been given a technical knock-out by President Goodluck Jonathan and the whole world is witnessing the reclaiming of all territories hitherto held by Boko Haram.
“This leaves him on a one legged platform. Again, on the remaining: corruption, General Buhari himself got jittery and gave himself another technical knock-out when he said that he will not probe past leaders.
“With this development, Buhari has conceded that he has nothing more to offer the good people’s of this country.
In fact, I make bold to say that he is now standing for nothing and like they say he can fall for anything.”
Clark said that he was puzzled to hear Buhari say that he would if elected President pardon any one indicted for corruption between 1999 to the date of his swearing, while anyone involved in corruption would be dealt with from the date of his assumption of office as president.
Economic and Financial Crimes Commission (EFCC), has detained Tunde Ayeni, former chairman of defunct Skye Bank Plc, for alleged fraud involving N36.5 billion and $30 million.
Tunde Ayeni, former chairman of defunct Skye Bank Plc,
This follows the probe of alleged diversion of N36.5 billion and $30 million secured as loans from Polaris Bank Plc through companies linked to Ayeni.
He was arrested by EFCC operatives in Abuja on April 23, 2026, and is still been held in custody as at the time of filling the report.
Dele Oyewale, spokesperson, EFCC, confirmed the arrest on Friday but declined to provide further details.
Ayeni is under investigation for diverting funds obtained for marine security, electricity distribution, and real estate projects into other unknown projects.
Investigators allege the loans were instead channelled into telecom investments tied to NITEL/MTEL assets via a NATCOM account.
About 12 firms believed to be connected to Ayeni are also under investigation for their role in securing the loans.
The EFCC is expected to file charges once the investigation is concluded.
Summit Household Solutions Limited has opened its ultra-modern manufacturing facility in Ota, Ogun State, as part of its efforts to scale production of home and personal care products in Nigeria.
The plant, which started operations in April 2025, produces items such as dishwashing liquids, handwash, sanitisers and multipurpose liquid soaps, with an annual capacity estimated at 7,000 tonnes.
Commissioning the facility on behalf of Governor Dapo Abiodun, the Permanent Secretary, Ministry of Commerce, Trade and Investment, Mr Kehinde Akintomide, said the investment reflects growing confidence in Ogun State’s business environment.
He noted that the state hosts over 6,000 manufacturing firms and described the development as consistent with ongoing efforts to promote industrialisation, attract investment and reduce reliance on imports under the Federal Government’s Renewed Hope initiative.
Akintomide disclosed that the factory has already employed more than 50 Nigerians, with projections to exceed 250 jobs as operations expand.
In his remarks, the General Manager of the company, Mr Sadiq Ali, said the facility represents a major step in Summit’s growth plans, adding that its flagship brand, 2Sure, currently leads production at the plant.
He also revealed that the company is preparing to introduce new home and personal care products later this year.
Summit Household Solutions manufactures the 2Sure brand and has expanded into the personal care segment with Lewar, a premium beauty soap line positioned for quality and affordability.
Among dignitaries present were the Onikotun of Otun, Ota, Oba Abdulakeem Odunaro, representing the Olota of Ota, Prof. Adeyemi Abdulkabir Obalanlege; the Agba Akin of Ota, Chief Dada Olusola; Director of Investment, Ms Yemisi Folarin; Director of Industrial Promotion, Mr Femi Adeboye; former Managing Director of 7Up Bottling Company, Mr Ziad Maalouf; and the Chief Executive Officer of OmniRetail, Mr Deepanker Rustagi.
Speaking at the event, Maalouf, who conceived the 2Sure brand during his time at 7Up Bottling Company, expressed satisfaction with its growth and commended Summit Solutions Limited for advancing the brand.
The special guests were conducted around the facility, and the programme was concluded with a luncheon.
The administration of Donald Trump has frozen $344 million in cryptocurrency allegedly linked to Iran, marking a sharp escalation in financial pressure on Tehran.
The move comes amid stalled diplomatic efforts and a fragile ceasefire in the region.
U.S. Treasury Secretary Scott Bessent confirmed that authorities are sanctioning multiple crypto wallets tied to Iran. “We will follow the money that Tehran is desperately attempting to move outside of the country and target all financial lifelines tied to the regime,” he said.
Tether, which facilitated the transactions, said it worked with U.S. authorities to freeze the funds across two wallet addresses after receiving intelligence linked to unlawful activity.
A U.S. official said blockchain analysis revealed “material links” to the Iranian regime, including transactions routed through intermediary addresses connected to wallets associated with the Central Bank of Iran.
Responding to the development, Tether CEO Paolo Ardoino said the company does not tolerate illicit use of its stablecoin. “USD₮ is not a safe haven for illegal activity. When there is credible linkage to sanctioned entities or criminal networks, we act immediately,” he stated.
The crackdown underscores the growing reliance of sanctioned states on digital assets to bypass traditional banking restrictions. Data from Chainalysis shows Iran’s cryptocurrency holdings reached $7.8 billion in 2025, with the Islamic Revolutionary Guard Corps reportedly controlling about half.
Analysts say while the freeze is significant, Iran has historically adapted to sanctions. Daniel Tannebaum of the Atlantic Council noted that targeting third-party actors enabling such transactions may be key to increasing pressure.
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