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EFCC: How Bawa Created N500m Severance Package for Self

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By Gom Mirian, Abuja

 Barely 24 hours after President Bola Ahmed Tinubu ordered the indefinite suspension of Abdulrasheed Bawa, Chairman of the Economic and Financial Crimes Commission(EFCC), information has emerged about his many wrong doings that may cost him the plum job.

DAILY ASSET investigations revealed that on Just three month into his tenure on assumption of office, Bawa created a severance package in which he as chairman would be rewarded with a handsome N500million by the commission at the end of his tenure.

 While the staff were happy for their own financial rewards, they frowned at the staggering sum, th Chairman recommended and approved for himself and those that will come after him.

Worse still was the arbitrariness in making the severance package, which took a retroactive effect for just one female staff, who had formally retired from the commission before the package took effect.

A source at the Commission familiar with the situation told DAILY ASSET that the said female staff was controversially retained by Bawa in what had spanned a three-year contract and made the only beneficiary in the package among those that retired with her in 2021.

The said female staff it was also learnt, hails from the same  Kebbi State with Bawa and has family bonds with  him through marriage.

Bawa’s suspension was allegedly greeted with jubilation by staff of the Commission both at the headquarters and the state offices over what a source described as his administrative high handedness.

 As the staff of the Commission erupted in celebration yesterday with the news of Bawa’s ouster, they sadly recall that he stopped the payment of their overtime entitlement which all of his predecessors authorise for the staff. The overtime allowance paid by the commission became necessary given that rather that close for work by 4pm going by Civil Service Rule, EFCC staff officially close by 5pm, meaning that they are compelled by the  Commission’s Staff Regulations to put in an extra hour daily.
Bawa took high-handedness to the next level in the commission, populating his office with a coterie of loyalists chosen on the basis of religion and ethnicity who on account of the rules he made brazenly interdict directors from seeing him.

DAILY ASSET was told that a Grade Level 17 Directors of the Commission were compelled to fill access form, vetted by his chief of staff, a junior officer before they could be granted passage to meet Bawa.


The only clear duty in the nebulous responsibility given to her by Bawa was evaluating the feasibility of the commission operating a radio station which Magu got its license about five years ago.

Though he was the leader of the country’s foremost anti-graft agency, integrity is hardly one of Bawa’s strongest points, investigations revealed.


As the then Head of Port Harcourt Zonal Office, now designated as zonal command, sources informed that over 50 trucks forfeited to the federal government by convicts of illegal oil bunkering went missing under his watch.

The missing trucks were said to be part of a larger whole, totalling over 400, which the then secretary of the commission, Mr Ola Olukayode had gone to Port Zonal Command to document, preparatory to their auctioning to members of the public.

The sudden disappearance of the trucks just two months after their documentation forced the then chair of the commission, Mr Ibrahim Magu to redeploy Bawa in anger to the commission’s Training School in Karu, Abuja.

 A more angered Olukayode was said to have  argued at the time that the redeployment was rather a slap on the wrist and that Bawa ought to be arrested and prosecuted.

However, left alone to float  in the Training School, Bawa ws said to have teamed with the commission’s supervising Minister and the Attorney General of the Federation(AGF),  Abubakar Malami, who also hails from the same Kebbi  state with him to disgrace  Magu out of office.

With Magu out and facing judicial investigation, Bawa was immediately rewarded by Malami with a posting to the premium Lagos Zonal Command as Head, from where he subsequently recommended him to former President, Muhammasu Buhari as chairman of the commission.

Sources at the  Commission said the development was clearly seen as quid pro quo for all the false and misleading testimonies Bawa provided for Malami in his witch hunt investigative judicial panel of inquiry against Magu.
Bawa’s days as Zonal Commander in Lagos were said to be only remarkable for his muck racking efforts against Alpha Beta company, a firm visible in revenue consultancy services to Lagos State Government believed then  to be linked to President Bola Ahmed Tinubu.

Though he was said to have realised nothing from all of he scavenged against the company, his efforts at seeking to tarnish Alpha Beta’s image later emerged as an attempt to prove that the ousted Magu was too “protective” of the company.

Another source revealed that Bawa was allegedly spending lavishly well beyond his capacity as a public servant.

A group, Coalition for Good Governance at a news conference in Abuja shortly  after his sack  alleged that he travelled to Saudi Arabia on pilgrimage with about 30 persons, mostly family members  on his sponsorship and that each was paid accommodation worth $15,000 for about 10 days during the religious trip.

The group alleged that he must shave spent about $300,000  during the trip, an amount the group claimed was far above his statutory income.

The above, coupled with the allegation of demand for $2million bribe levelled by the immediate past Governor of Zamfara State, Bello Muhammad Matawalle among other infractions may have left Tinubu with no option than axe the EFCC boss, investigatins showed.

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DAILY ASSET Appoints Torough, Editor, Names Eze, Deputy

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By Laide Akinboade, Abuja 

As part of efforts to reposition the newspaper for optimum corporate performance, the management of Asset Newspapers Limited, Publishers of DAILY ASSET, has announced the appointment of David Torough as the Editor of the Abuja-based national daily.

A statement by the management said the appointments were part of the company’s new strategy to further penetrate the various states in the country and raise its readership and patronage.

“DAILY ASSET is widely acceptable across the country and to maintain our leadership position, we need to increase management presence, hence the need to create new Bureau offices in some locations outside Abuja and Lagos,” the statement quoted the Publisher/ Editor-in-Chief, Dr Cletus Akwaya to have said.

In a statement yesterday, Publisher and Editor-in-Chief of the fast-growing daily, Dr. Cletus Akwaya said the appointment was part of the new strategy to properly situate the paper for better productivity.

“DAILY ASSET has a commitment with the Nigerian people. We are determined to weather the storm and give Nigerian readers a Newspaper that satisfies their yearnings and reading pleasure and we can only do that with the right set of professionals,” the statement said.

Akwaya, a former Commissioner of Information from Benue State said the difficult times being faced by Nigerians posed a great challenge to the media as the people deserved credible information with which to make choices.

“We have a bond with the people, to offer credible information at all times in the best tradition of the Nigerian Press and on this scale of objectivity, truth and fairness, we pledge to remain steadfast no matter the challenges,” Akwaya was quoted to have said.

He said the newspaper will maiantin its daily print run and circulation to all states of the federation and urged advertisers to take advantage of the deep penetration of the Daily Asset brand to send their messages.

Torough, the new Editor has had a steady rise in the Newspaper in the last five years.

A graduate of Mass communication of the Benue State University, Makurdi, Torough joined the company in 2022 as Benue State Correspondent. He was spotted for his brilliance and redeployed to Abuja the following year and promoted to Deputy News Editor.  He was subswuently named Deputy Editor of the paper, a position he held until the recent appointment. 

Torough  has  attended several journalistic workshops and trainings to properly equip himself for the task ahead.

The statement also said the Management named Eze Okechukwu as Deputy Editor.

Before his elevation as Deputy Editor, Eze has been Deputy Politics Editor and  DAILY ASSET Newspaper correspondent  covering the Senate, having joined the organization in 2021.

Born on March 10, 1975, Eze holds a Masters Degree in Mass Communication from the Enugu State University of Science and Technology.

Eze began his journalism career with Daily Star, Enugu and later worked with Daily Trust Newspaper, Abuja as sports reporter.

Aside from his journalistic excellence, he has a great deal of passion for sports.

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Insecurity: Northern Govs, Monarchs Seek Six-month Mining Suspension

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From Ngutor Dekera, Kaduna and Aliyu Askira, Kano

Northern governors and traditional rulers yesterday called for the suspension of mining activities across the region for six months, blaming illegal mining for worsening insecurity in many states.The resolution was contained in a communiqué issued after a joint meeting of the Northern States Governors’ Forum and the Northern Traditional Rulers’ Council held at the Sir Kashim Ibrahim House, Kaduna.

The meeting, chaired by the Gombe State Governor and NSGF Chairman, Muhammadu Yahaya, had in attendance the 19 northern governors and chairmen of the 19 states’ traditional councils.
The Forum expressed concern over the escalating violence in parts of the North, including the killings and abductions recently recorded in Kebbi, Kwara, Kogi, Niger, Sokoto, Jigawa and Kano states, as well as renewed Boko Haram attacks in Borno and Yobe.
“The Forum extends its deepest condolences and solidarity to the governments and good people of the affected states,” the communiqué said, noting that the attacks on schoolchildren and other citizens had become “unacceptable tragedies” that required urgent collective action.It commended President Bola Tinubu for what it described as the Federal Government’s “firm response” to recent abductions and insurgency threats, especially the rescue of some abducted pupils.The governors also saluted security agencies for their sacrifices on the frontlines.“We resolved to renew our support for every step taken by the President and Commander-in-Chief to take the fight to insurgents’ enclaves in order to end the criminality,” the Forum stated.A major highlight of the meeting was the North’s renewed push for the establishment of state police, with governors and traditional rulers insisting that decentralised policing had become inevitable.“The Forum reaffirms its wholehearted support and commitment to the establishment of state police,” the communiqué added, urging federal and state lawmakers from the region to “expedite action for its actualisation.”On illegal mining, the governors said criminal mining networks were fuelling violence and providing resources for armed groups.As a corrective measure, they asked Tinubu to direct the Minister of Solid Minerals to impose a six-month suspension of mining activities in order to allow for a full audit and revalidation of licences.“The Forum observed that illegal mining has become a major contributory factor to the security crises in Northern Nigeria. “We strongly recommend a suspension of mining exploration for six months to allow proper audit and to arrest the menace of artisanal illegal mining,” it said.To strengthen the fight against insecurity, the governors also announced the creation of a regional Security Trust Fund.Under the proposed arrangement, each state and its local governments will contribute ₦1bn monthly, to be deducted at source under an agreed framework.They said the fund would help provide sustainable financing for joint operations, intelligence-driven interventions and coordinated security responses across the region.At the end of the meeting, the Forum reaffirmed its commitment to unity and collective responsibility.“Only through unity, peer review and cooperation can we overcome the pressing challenges before us,” it declared.The Forum agreed to reconvene on a date to be announced.Meanwhile, Nigeria’s worsening security crisis took a grim turn on Monday as bandits launched fresh attacks in Kano State, abducting 25 villagers, even as the Federal Government raced to secure the release of more than 300 Catholic school children kidnapped in Niger State.In the early hours of Monday, armed bandits invaded Unguwar Tsamiya—popularly called Dabawa—in Shanono Local Government Area of Kano State, whisking away nine men and two women after shooting into the air and assaulting residents. The attackers also rustled two cows.A resident lamented the community’s helplessness: “We cannot do otherwise; most of us cannot leave because we have nowhere to go. This is our place, our land and everything is here.”The assault came less than 24 hours after a similar attack on Yan Kamaye in Tsanyawa LGA, a community along the volatile Katsina border.In Niger State, National Security Adviser Nuhu Ribadu has assured distraught families of St. Mary’s Co-Education School, Kontagora that the more than 300 students and staff abducted on November 21 will return home “soon.” Ribadu, who led a high-level federal delegation to the school on Monday, said the abductees are safe, though he offered no specifics on their location or the status of rescue operations.According to Daniel Atori, spokesman for the Catholic bishop overseeing the school, the NSA reassured officials: “The children are where they are and will come back safely.”The St. Mary’s attack is part of a worrying resurgence of mass kidnappings reminiscent of the 2014 Chibok schoolgirls’ abduction. Security analysts warn that banditry has evolved into a “structured, profit-seeking industry,” with hundreds of Nigerians abducted in November alone.The Kontagora school abduction occurred the same week 25 girls were kidnapped in Kebbi State—victims who authorities say have since been rescued through “non-kinetic” means. About 50 of the St. Mary’s hostages have also managed to escape.Ribadu’s delegation, which included the Minister of Humanitarian Affairs and the Director-General of the Department of State Services (DSS), reaffirmed the government’s commitment to securing the freedom of all abducted citizens.As communities from Kano to Niger continue to bear the brunt of these violent incursions, the escalating spate of kidnappings underscores the urgent national demand for a more decisive and coordinated security response.

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Abacha Loot Probe: Malami Faces EFCC Panel Daily in December

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Abubakar Chika Malami SAN Attorney General
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By David Torough, Abuja

The Economic and Financial Crimes Commission (EFCC) said former Attorney‑General of the Federation and Minister of Justice,  Abubakar Malami, will face a team of interrogators at its office daily throughout December.A credible source in the EFCC said on Monday that the daily appearance was part of an ongoing investigation into the whereabouts of an alleged 490 million dollars Abacha loot secured through a Mutual Legal Assistance (MLAT) request.

The source said that Malami, who was summoned for interrogation by the EFCC on Saturday, was barred from leaving Nigeria for the next one month.According to the source, one of the conditions for his release on Saturday was that he should report daily to the EFCC Headquarters in Abuja for further interrogation.
The source said Malami would have to appear daily at the anti-graft office due to the volume of the investigation and the seriousness of the charges against him.”We seized his passport, it is the normal routine during investigation, but he has to report at the EFCC headquarters in Abuja every day for the next month.”He will be reporting for further investigation throughout December.”He will be reporting every day, starting from Dec. 1st to Dec. 31st.He will appear before the team of investigators for the entire month of December.”He will be reporting to EFCC for investigation for the period because of the volume of the investigation and the seriousness of the charges against him,” the source added.According to the source, a fact sheet on the former minister revealed that Malami had several issues to clarify with the EFCC within the coming weeks.“We have asked him to explain the whereabouts of the $490 million Abacha loot secured through MLAT.“We didn’t say he stole money, but he should account for the loot. This is one of the issues he will clarify to our investigators.”The commission cited the large volume of documents he must review and the need for extensive interviews as reasons for seizing his passport.The source said EFCC would not engage in a war of words but would release its findings after a thorough investigation.Malami, in a statement by his media aide, Mohammed Doka, on Monday in Abuja, however, described the EFCC investigation as a political witch‑hunt.He confirmed he honored an EFCC invitation on Nov. 28, describing the engagement as fruitful and expressing confidence that the probe would vindicate him.Malami described the EFCC’s allegations as baseless, illogical and devoid of substance, insisting they collapse under factual scrutiny.

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