The Economic and Financial Crimes Commission (EFCC) has warned Nigerian banks to desist from granting loans without credible collateral, citing concerns over insider abuse and threats to financial stability.

The commission’s chairman, Ola Olukoyede, gave the warning during a courtesy visit by officials of First Bank of Nigeria Plc to the Lagos Zonal Directorate 2 office in Ikoyi.

Speaking through the acting Zonal Director, Assistant Commander Bawa Usman Kaltungo, Olukoyede expressed concern over lending practices in the banking sector, particularly loans backed only by personal guarantees, which he said expose depositors’ funds to significant risk.

“We have issues with banks’ mode of giving loans. The process often shows insider abuse,” he stated.

He criticised the practice of “top-down loans”, noting that they lack proper security and should be discouraged.

“You cannot give a loan based solely on the personal guarantee of the Chief Executive. This is not security. Banks must not issue loans without verifiable collateral,” he said.

Olukoyede maintained that enforcing strict collateral requirements would help reduce the rising level of non-performing loans within the financial system.

He also stressed that banks act as custodians of depositors’ funds and must exercise due diligence in their operations.
“Giving loans without adequate collateral amounts to tampering with depositors’ funds,” he warned.

The EFCC boss further called for stronger due diligence frameworks, insisting that accountability must be ensured even when such processes are outsourced.

“Even in situations where you outsource due diligence, there must be a clause of liability,” he added.

Reaffirming the Commission’s commitment to collaboration, Olukoyede urged banks to cooperate fully with investigations, especially in cases involving suspected insider collusion.

“When we invite your staff, you must release them so we can jointly fight economic and financial crimes. We must work together to stay ahead of criminals,” he said, noting that cases may be escalated to foreign agencies when necessary.

Earlier, the Chief Audit Executive of First Bank, Mufutau Olawale Abiola, said the visit was aimed at strengthening collaboration with the EFCC.

He also called for expedited handling of cases involving the bank’s personnel and disclosed that a dedicated team has been established to manage requests from the commission.

The development highlights increasing regulatory pressure on Nigeria’s banking sector to strengthen risk management systems amid concerns over loan defaults and governance challenges.

The Chairman House of Representatives Downstream Petroleum Committee, Alhassan Ado Doguwa, has given more insight on how 27 of the 31 APC stakeholders supported the nomination of Alhaji Murtala Sule Garo for the position of Deputy Governor after the resignation of Comrade Aminu Abdussalam Gwarzo.

Doguwa, in a release on Sunday commended Governor Abba Yusuf saying, “I have to commend His Excellency, Governor Engr. Abba Kabir’s decision to humbly and willingly concede his constitutional right and powers to the legacy component of the old APC under the leadership of Dr. Abdullahi Umar Ganduje to nominate for him a Deputy Governor.”

He said, “for this singular courtesy and an act of modesty, we must categorically commend the governor and appreciate his uncommon magnanimity and clear manifestation of his determination to working together for the unity of the party. Secondly, Governor Kabiru also gave to our group several vacant positions to be filled with our members including three Commissioners slots.”

He said the action of the governor was unprecedented and the first of its kind in history.

Doguwa hinted that In the course of their meeting, “Majority of the old legacy party members including my humble self have cooperated and supported Dr Abdullahi Umar Ganduje and accepted him as leader of the legacy group in Kano state. And he presided over our meeting last night. For me, the meeting went on well and came up with an overwhelming support in favour of our former Deputy Gubernatorial candidate and a former Commissioner for Local Government Affairs, Hon. Murtala Sulen Garo as a unanimous choice.”

“Of course, there were unavoidable dissenting voices that one cannot rule out in such a situation. But about 27 stakeholders out of 31 in attendance were on the same page and adopted Murtala as our major nominee for this exalted position.

” We have anchored our decision for Murtala on the following practical political reasons 1. Murtala was our deputy gubernatorial candidate in the last general election in 2023. His political outreach and popular support amongst our party ranks is incontestable. 2. He is has the widest influence across the 44 LGAs of the state. 3. Murtala Sule Garo coincidentally came from Gwarzo Kabo federal constituency where the immediate Kwankwasiyya’s former deputy governor also came from.”

“We have no doubt about these-facts. Murtala is naturally most appropriate man to take over this very strategic position. We have however decided to submit three names to comply with the directives by His Excellency, the Governor as the supreme leader of the party in the state.”

But to my mind and the minds of most of us, the two other names are merely “ shadow nominees”. or you can call them “ space holders.” But our substantive nomination for the deputy governor collectively as legacy family is the choice of Hon. Murtala Sulen Garo.”

“We, therefore, most respectfully urge and request His Excellency, the Governor who naturally holds the final constitutional discretion and the powers to make this very critical decision to graciously accept this popular decision of the legacy party members.

“We promise His Excellency that we will give him our individual and collective support to succeed in the coming elections in 2027. “

The All Progressives Congress, APC, in Ebonyi State has mocked the opposition Africa Democratic Congress, ADC, for conducting a parallel State congress that produced separate leadership in the state.

One of the factions produced, Barr. Silas Onu as Chairman, while another faction produced Mrs. Jennifer Adibe Nwafor as State Chairman.

Silas Onu had in his acceptance speech at their faction’s Congress which held at Preston Hotel in Abakaliki on Saturday, said ADC under his leadership would wrestle power from the ruling APC in 2027.

“There is serious commotion in the camp of the opposition, we call them opposition because they are the ruling party but behaving as opposition. They are in fear because of the calibre of people assembled to lead ADC in Ebonyi.

“We shall field candidates for all positions, including the Governorship. We will not only contend with them, we shall beat them,” Onu said.

But the Chairman of APC in the state, Chief Stanley Okoro-Emegha, in his reaction urged ADC not to waste their strength talking about APC and the 2027 elections in the state.

Speaking through his Special Assistant on Media and Public Affairs, Prince Chijioke Agwu, Chief Emegha advised the opposition party to concentrate its time and resources towards resolving its internal crises.

“Ebonyi ADC should, first of all, resolve it’s internal crises before talking about 2027 general elections.

“They should tell Ebonyi people, between Adibe Nwafor and Silas Onu who is their authentic State chairman.

“In APC, our Chairman is Chief Stanley Okoro-Emegha; and there is no other person making claims to his position. That is how to know a party that is ready for elections.

“I advise the two factions not to waste their strength talking about the APC and the 2027 elections. They should concentrate their time and strength on resolving their internal crises, both at the State and national levels.

“Ebonyi people are comfortable with Governor Francis Ogbonna Nwifuru and the ruling APC, and they will prove it again with their votes in 2027,” he said.

A woman, who lost eight family members in the April 9th attack by suspected Fulani militia in Mbwelle village, Kwatas district of Bokkos Local Government Area of Plateau State, has accused soldiers sent to the area of guarding cows belonging to herdsmen and abandoning the people they were meant to safeguard.

The distraught woman, who made the allegations in a video shared on social media by conflict journalist, Kim Masara Usman on Sunday, said when the attackers invaded the village, the frightened residents made frantic calls to the troops under the Operation Ensuring Peace task force hoping they would come to their rescue.

However, according to the woman, the soldiers never came to their rescue for the duration of the attack which lasted over two hours.

She stated further that to the chagrin of the invaded community, it was later discovered that a gun truck belonging to Sector 5 of the OPEP task force was seen positioned in front of a Fulani settlement where the attackers had retreated to after they had carried out the invasion.

“When the Fulani killers came to our village that night and started shooting at the people, our youths and elders called the soldiers who were stationed less than three kilometers away.

“We pleaded with them to come to our aid but they refused to come,” she said.

“The Fulani killers were shouting “Allah Akbar” and shooting at our people for more than two hours but the soldiers did not come. They came into our house and killed eight of my family members including my brother’s wife who was pregnant.

“How wicked could they be? They killed my father, my brothers, and my young nephews. What did these people do to them to deserve such a death?

“In the end, we lost over 20 people. When the Fulani killers left, we discovered that they ran to Korong, one of the villages that they had earlier chased the people away from and forcibly occupied.

“As if that was not enough, we later realized that the soldiers had stationed their gun truck in front of Korong thereby providing security for the Fulani people while leaving innocent people open to attack,” the woman lamented.

Nigerian Army has released a video showing the confession of a suspected member of Boko Haram, in which he claimed that those present at the Jilli market during a recent airstrike were members of the group allegedly involved in logistics operations.

In the footage shared by the Army, the young man is seen being interrogated about the movement patterns and operational activities of his associates.

He also spoke about the roles of other suspected members linked to recent attacks.

DAILY POST reports that this comes in the wake of a military air operation at Jilli Market, where at least 56 people, mostly traders were reported feared dead following an airstrike along the Borno Yobe border.

The incident occurred on Saturday in the border area between Gubio and Geidam.

Four fighter jets were reportedly involved in the operation, which was said to have targeted suspected Boko Haram fighters.

In response, the Nigerian Air Force stated that the strikes were carried out based on credible intelligence and in coordination with ground forces.

Borno State Governor, Babagana Umara Zulum, has warned residents against aiding or providing any form of support to insurgents.

The warning comes amid reports of an alleged accidental bombing in Jilli on Saturday, a community located between Gubio Local Government Area of Borno State and Geidam in Yobe State.

In a statement issued on Sunday by his Special Adviser on Media, Dauda Iliya, the governor said he had been fully briefed on the military operation carried out by the Air Component of Operation HADIN KAI.

“I have been properly briefed on the airstrike carried out on Jilli market, a border town between Borno and Yobe states,” Zulum said.

Addressing the controversy, the governor stressed that the area had long been under restriction due to security concerns.

“Let me state categorically that the Borno State Government closed Jilli and Gazabure markets five years ago,” he added.

Zulum described Jilli market as a location that had allegedly been used by insurgents and their logistics suppliers.

He warned residents to avoid any dealings that could aid criminal groups.

He said the government is working closely with security agencies and the Yobe State Government to fully understand the situation.

“I am in close consultation with the Government of Yobe State and the military hierarchy on the matter,” he said.

The governor explained that authorities usually coordinate with security agencies before reopening communities or markets affected by insurgency.

He also urged residents to remain vigilant and cooperate with security forces by sharing useful information.

“Residents must not aid, harbour, or provide logistics support to insurgents,” Zulum warned.

He reaffirmed his administration’s commitment to protecting civilians while supporting ongoing military efforts to restore peace in the state.

A counsel representing the African Democratic Congress (ADC) has told a court that the Independent National Electoral Commission (INEC) confirmed the election of Senator David Mark and Ogbene Rauf Aregbesola as the party’s National Chairman and National Secretary at a meeting held on July 29, 2025.

In a viral video on X, The counsel, while addressing newsmen after a court session said INEC’s position supports the party’s claim that the National Executive Committee (NEC) meeting took place on that date and produced the current leadership.

“INEC’s position agrees with us that the party did hold a NEC meeting on the 29th of July 2025, during which Distinguished Senator David Mark and His Excellency, Ogbene Rauf Aregbesola were elected as National Chairman and National Secretary of ADC, respectively,” he said.

He added that INEC not only acknowledged the meeting but also confirmed its participation.

“They also confirmed in their report that they attended the NEC meeting and that the meeting produced Senator David Mark and Aregbesola as National Chairman and National Secretary,” the lawyer stated.

According to him, INEC documented the meeting and attached a report as evidence before the court.

“They produced a report, which is the report they attached. So INEC is on the same page with us as far as this matter is concerned,” he said.

The lawyer dismissed the claims by the plaintiff, describing the case as unfounded and lacking evidence.

“The plaintiff’s case is speculative, it is premised on gossip; an activity that never existed,” he argued.

He explained that the plaintiff claimed the party leaders emerged on July 22, 2025, but failed to provide proof.

“Their argument is that Senator David Mark and Aregbesola emerged on the 22nd of July 2025, and we are saying no, you don’t have any document to prove that,” he said.

In contrast, he said the party has documents to support its position.

“We have documents to show that on the 4th of July 2025, the party sent INEC a notice of the NEC meeting to be held on the 29th of July 2025. And on that date, the meeting held. INEC attended and produced a report,” he said.

The lawyer maintained that the evidence before the court clearly supports the party’s position.

“While we have evidence before the court to back up our claim that the meeting held on the 29th, they don’t have any document to support their assertion,” he said.

He also questioned the legal standing of the plaintiff to file the case.

“What is the locus of the person who filed this matter? He is not an official of the party, he is just a member,” he said.

The counself, citing the Supreme Court rulings argued that individuals cannot take legal action on internal party matters.

“The Supreme Court is very clear that on issues that bother on the internal affairs of a political party, no individual has any right to institute such action, and no court has jurisdiction to entertain it,” he added.

There will be no zoning arrangement for the Nasarawa State governorship seat ahead of the 2027 election, a former Inspector General of Police, Mohammed Abubakar Adamu, has said.

Adamu, who is a governorship aspirant under the platform of the ruling All Progressives Congress (APC), also declared that he remains the candidate to beat in the state.

The former IGP hails from Nasarawa South, but the incumbent governor, Abdullahi Sule, is said to be inclined towards having his successor emerge from Nasarawa West.

According to Adamu, there would be no consensus arrangement in the selection of the governorship candidate in the state. He said the direct primaries option affords aspirants a level playing field.

He explained, “The electorate will be allowed to pick their candidate, unlike in the indirect primaries system where delegates could be influenced against a candidate.”

Addressing a press conference in Abuja on Friday, Adamu reiterated that there is nothing like zoning in Nasarawa, stressing that since 1999, when democratic rule returned, the state has never zoned the governorship seat.

He further explained that under the Peoples Democratic Party (PDP), Congress for Progressive Change (CPC), and the incumbent APC, zoning of the governorship seat has never worked.

Adamu said that while the governor in his wisdom wants to support somebody from Nasarawa West, his zone, Nasarawa South, is also saying it should be left open.

He added that although he does not expect any patronage from the governor, the electorate will determine who emerges come 2027. He pointed out that he has gone to the 147 wards in the state and has seen their problems, and told them to work together and focus on Nasarawa State.

He further said that they always manipulate through indirect primaries, expressing delight that the threat has been removed and nobody can take his delegates and keep them somewhere and tell them to vote a certain way.

Adamu explained that consensus would never take place in Nasarawa State when more than one person have said they do not want it, assuring that they will be vigilant in order to make sure that the primaries are free and fair.

Speaking further, Adamu lamented the state of the capital, Lafia, noting that for a long time, it has not been given the priority it deserves, lamenting that it still looks like a glorified local government headquarters, as previous administrations did not prioritise the city as a capital.