By Ubong Ukpong, Abuja

The House of Representatives on Monday, lamented that financial crimes were the major drain on the nation’s economy, asking the Economic and Financial Crimes Commission (EFCC) and the Nigeria Financial Intelligence Unit (NFIU), to step up their fight to protect the country.

Its Committee on Financial Crimes, raised this alarm during the 2026 budget defence exercise with the Economic and Financial Crimes Commission (EFCC) and the Nigeria Financial Intelligence Unit (NFIU).

Chairman of the Committee, Hon. Ginger Onwusibe, while conveying the feelings of the House in his remarks, assured the agencies of the House’s support to enable them achieve impactful results that would enhance Nigeria’s standing on the global stage.

Onwusibe explained that the 2026 budget prioritised infrastructure development and food security, with key objectives including macroeconomic stability, an improved business environment, job creation and human capital development. He stressed that effective execution of the budget is crucial and would require timely implementation, increased oil production and sustained growth in non-oil revenues.

He noted that Nigeria is currently facing significant economic challenges, with many citizens grappling with hardship, underscoring the urgent need for effective solutions to stimulate growth, create jobs and improve living standards.

“As patriots, we must summon our patriotic zeal. Hopes are not lost, as Nigeria’s economy is showing signs of cautious optimism—transitioning from post-reform stabilisation to modest recovery.

“The International Monetary Fund (IMF) projects a 4.4 per cent growth in 2026, driven by improved macroeconomic stability, structural reforms and a rebound in domestic demand,” Onwusibe said.

He emphasised the critical roles played by the EFCC and the NFIU in combating financial crimes, describing such crimes as a major drain on the economy. According to him, the agencies’ work in recovering stolen assets, deterring corruption and financial malfeasance, and enhancing financial stability and security is indispensable.

Onwusibe reiterated the House’s commitment to making effective and impactful legislative interventions, stressing its resolve to enact laws that are robust, coherent and responsive to evolving criminal tactics.

He disclosed that the House is currently considering four key bills aimed at promoting transparency, protecting public resources, restoring confidence in the financial system and aligning Nigeria with global best practices. The bills include: a Bill for an Act to Establish the Economic and Financial Crimes Commission (EFCC); a Bill to Amend the Money Laundering (Prevention and Prohibition) Act, 2022; a Bill to Amend the EFCC Act, 2004; and a Bill to Amend the Proceeds of Crime Act. Collectively, he said, the bills are designed to modernise existing laws, bridge operational gaps, strengthen enforcement mechanisms and ensure that crime does not pay, regardless of its sophistication.

He commended the EFCC and the NFIU for their tireless efforts, particularly Nigeria’s recent delisting from the Financial Action Task Force (FATF) grey list, which he described as a significant milestone reflecting the government’s commitment to strengthening the anti-money laundering and combating the financing of terrorism (AML/CFT) framework.

According to him, the development is expected to enhance Nigeria’s international reputation and credibility, boost foreign investment and trade opportunities, improve access to international financing and credit, and strengthen the country’s financial stability and security.

Onwusibe noted that as of October 2025, the EFCC had recorded significant achievements, including the recovery of over ₦566 billion, $411 million and 1,502 properties, as well as securing 3,175 convictions. He also highlighted the NFIU’s crucial role in strengthening financial intelligence, describing the achievements as a clear demonstration of the agencies’ capacity and dedication.

“These achievements, and your uncommon leadership trajectory, are a testament to the leadership of the EFCC Chairman, Ola Olukoyede, and the NFIU Director, Hajia Hafsat Abubakar Bakari. I strongly commend your efforts and those of your teams,” he said.

He added that while reviewing the agencies’ budgets, the Committee would acknowledge the critical role they play in safeguarding Nigeria’s economy and citizens, while also ensuring that their operations are guided by professionalism, transparency and accountability. The Committee, he said, would scrutinise the budgets to ensure alignment with legislative priorities and optimal use of resources.

Onwusibe explained that the budget defence would focus on strengthening investigative and prosecutorial capacities, enhancing international cooperation and information sharing, improving asset recovery and management, building internal capacity and expertise, and addressing emerging threats such as cybercrime and virtual assets.

He concluded by reaffirming the Committee’s commitment to supporting the EFCC and the NFIU in their critical mandate, stressing that their work is central to Nigeria’s economic stability and security. He urged that the agencies be provided with the necessary resources and support to continue their vital work, while upholding the highest standards of professionalism and accountability.

From Ene Asuquo, Calabar

The Cross River state Magistrates have commenced an indefinite strike following the state government’s failure to address an eight-point demand bordering on welfare, promotion, and working conditions

The action was contained in Bulletin No.

3 dated February 9, 2026, issued by the Magistrates Association of Nigeria (MAN), Cross River State chapter, and signed by its Chairman, His Worship Godwin O. Onah, and Secretary, Solomon O. Abuo.

The association directed magistrates across the state to withdraw their services and abstain from court sittings until further notice.

The strike, according to the association, is a continuation of a dispute that began after a communiqué issued on November 5, 2024, when magistrates presented eight demands to the Cross River State Government.

The demands include; implementation of outstanding promotions for magistrates, payment of arrears of financial benefits, payment of about N200,000 monthly impress, payment of robing allowance, settlement of salary arrears owed to the 2019 batch of magistrates, provision of official accommodation, provision of official vehicles, and renovation of dilapidated magistrate courts across the state.

The association said it had made several efforts to resolve the matter, including a letter to the governor dated November 11, 2024, extending an earlier strike notice to November 22, 2024.

Recall that Magistrates had earlier embarked on a warning strike in November 2024, followed by an indefinite strike in December 2024, which was eventually suspended after appeals for dialogue.

In the latest bulletin, the association said another appeal was made to the government through a letter dated February 2, 2026, but no action was taken.

According to the bulletin, “Sequel to the failure of the Government of Cross River State to address our demands despite several written and oral appeals… we are hereby embarking on an indefinite strike action from Monday, February 9, 2026, until our demands are met,” the bulletin stated.

From Attah Ede, Makurdi

Benue State Governor, Rev. Fr. Hyacinth Alia has reaffirmed his administration’s dedicated commitment to judicial independence, integrity and accountability.

He further declared that under his leadership, the judiciary has regained its rightful dignity and autonomy.

Alia gave the assurance while swearing-in Franca Yuwa, as a Judge of the Benue State High Court.

He described the occasion as a defining moment for the state, adding that the elevation of Justice Yuwa was earned on merit, not through patronage or favoritism.

The Governor who congratulated Justice Franca Yuwa on her well-deserved elevation, assured the judiciary of the administration’s continued support in building a strong, independent, and credible justice system in Benue State.

Tracing her professional journey from Magistrate Grade II through Chief Magistrate to Registrar of the High Court, Governor Alia noted amongst other things that her rise reflected years of disciplined service, professional growth, and proven integrity.

He stated that the appointment sends a strong message to young lawyers and judicial officers, particularly women, that excellence and diligence remain rewarded within the judicial system.

He emphasized that his administration had drawn a clear line between the executive arm of government and the judiciary, stressing that the courts would neither be intimidated nor used as instruments of political convenience.

“More judges have been appointed to the High Bench under this administration than at any comparable period in recent history. The move is aimed at reducing case congestion, accelerating justice delivery, and restoring public confidence in the courts.

“Our government has improved conditions of service, invested in court infrastructure, and consistently respected judicial autonomy”, Alia said.

Charging the newly sworn-in judge to uphold the highest standards of judicial conduct, the Governor warned against undue influence, pressure, and inducement, reminding her that judicial authority carries immense responsibility over rights, freedoms, reputations, and lives.

Alia also cautioned that while the judiciary enjoys independence, it would not be shielded from accountability, noting that independence must not translate into impunity.

“The people are tired of delayed justice and judgments that offend conscience,” he said, adding that citizens desire courts that are firm, fair, accessible, and guided by truth and eq