General News
Lamorde, EFCC Boss Asks New Recruits to Uphold Values
Ibrahim Lamorde, chairman, Economic and Financial Crimes Commission (EFCC) has charged the newly recruited operatives of the Commission to uphold the tenet and core values of the Commission.
“The agency that you are about to become a part of, is not your regular government agency. If you have not gotten that in the past six months, then you do not deserve to be here. We do not entertain or manage second-bests here; if there is any bar set in the public service for professionalism, EFCC surpasses it and if there is any bar set for integrity, EFCC easily scales it. Therefore, professionalism, integrity and discipline must be your watchwords at all times.” He said
The Detective Assistant Cadet Course made up of 62 officers is the first set of operatives employed by the Commission at this level.
“By this exercise, we are making an effort to tackle some potential vulnerability inherent in the Commission’s current personnel structure. We are attempting to fill a vacuum in our guard and security detail personnel, which is presently being filled by gallant men of the Nigeria Police Mobile Force. It is hoped that following the intensive training and the years of mentorship that will follow in the field, these young men and women would form the resilient foundation of a corps of EFCC guard and personnel security that would not only do the Commission but the nation proud,” Lamorde stated.
The EFCC boss, who congratulated the operatives for their success, commended the Commandant of the EFCC Academy and his team for successfully leading the operatives through training.
“I am impressed by the rapid transformation of many of those passing out today, as attested to at various time in the course of their training within this Academy and by the assessment of some of the agencies where certain aspects of the intensive training were conducted,” he said.
Ayo Olowonihi, commandant of the Academy thanked the chairman of the Commission for his effort in making sure the programme was a success.
According to him, the journey which began on the 3rd of January, 2013 with 67 young cadets has come to an end with 62 of them successfully completing the course.
Basi Barika Victor Essien, best cadet, thanked the Commission for the opportunity presented to him to serve the nation, admitting that the training was not easy.
“Am grateful to God that we are passing out today” he said.
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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