News
EFCC, CAC Join Forces against Unregistered POS Operators
By Francis Wilfred
The Economic and Financial Crimes Commission, EFCC and the Corporate Affairs Commission, CAC, have expressed concerns over risks being posed to businesses and national security by the activities of unregistered Point of Sale, POS, operators.The concerns were expressed in Abuja when the Board Chairman, CAC, Senator Ibrahim Adah paid a courtesy visit to the Executive Chairman of the EFCC, Mr, Ola Olukoyede at the Corporate Headquarters of the Commission in Abuja.
Idah, who came with some management staff of the CAC, sought EFCC’s support in enforcing compliance among POS operators nationwide, disclosing that, “presently, only about 20% of POS operators are registered with CAC, a situation inconsistent with the Companies and Allied Matters Act, CAMA 2020, and the Central Bank Nigeria Agent Banking Regulations 2026, which require all businesses operating under a business name to be duly registered. “Furthermore, Mr. Chairman, we seek closer cooperation in developing a reliable database of POS operators for use by the EFCC and other law enforcement agencies.” He warned that evidence increasingly suggests that criminal proceeds, including ransom payments linked to kidnapping cases, are sometimes routed through POS terminals.
Idah also said that his visit was aimed at engaging public institutions that maintain close working relationships with his Commission and applauded the EFCC for its role in the fight against economic and financial crimes. He stressed that both institutions have interconnected mandates, explaining that while CAC registers and regulates companies in Nigeria, EFCC investigate and prosecute financial crimes.
Decrying the misuse of some corporate entities for fraudulent activities, he stressed that, “When companies are misused for fraud or money laundering, the mandates of both institutions are directly affected. Neither of the two agencies can therefore fight and win the war against economic and financial offences, especially those perpetrated through corporate entities, if we work alone. Collaboration is required in that regard.
A strong CAC registry makes the work of EFCC easier. Just as strong EFCC enforcement protects the integrity of the CAC corporate registry.” “The CAC Board is fully committed to this partnership. We see the EFCC as a serious and strategic partner in this drive to deepen corporate compliance, promote transparency, and safeguard the integrity of Nigeria’s financial system,” he said.
In response, Olukoyede also expressed concerns about POS operators, describing their activities as a major challenge to the nation’s financial system, adding that, “if you do not regulate the activities of such key players, you will be having major problems and challenges within your financial ecosystem.” He reaffirmed the Commission’s commitment to working closely with the CAC in combating economic crimes and promoting regulatory compliance.
The EFCC’s boss described the CAC as the “gateway to economic growth in Nigeria because the first contact of foreign investors in Nigeria is the Corporate Affairs Commission.” He disclosed that the EFCC had established a dedicated desk to handle matters involving the CAC while revealing that ongoing investigations involving about 200 companies had yielded considerable results.
He noted that most public corruption cases investigated by EFCC involve procurement and contract fraud carried out through companies regulated by CAC.He also stressed the need for both agencies to tackle insider deficits and strengthen internal accountability.
Olukoyede directed officials of both agencies to review and update an existing Memorandum of Understanding to reflect current realities on data sharing and intelligence exchange, especially in the area of beneficial ownership information and data protection.
News
Hamma Ali Kumo Commiserates with APC National Secretary Over Mother’s Demise
The Deputy National Financial Secretary of the All Progressives Congress (APC), Hon. Hamma Ali Kumo, has extended his heartfelt condolences to the National Secretary of the party and his family following the passing of his beloved mother, describing the loss as deeply painful and a moment of great sorrow for both the family and the APC.
In a condolence message, Hon. Kumo said the death of a mother is one of life’s greatest tragedies, noting that while death is an inevitable part of human existence, the departure of a loving and caring mother leaves an irreplaceable void in the hearts of her children and loved ones.
He described the late matriarch as a virtuous woman whose life was marked by humility, compassion, sacrifice and unwavering devotion to her family and faith, adding that her moral values and guidance were instrumental in shaping the exemplary character and leadership qualities of the APC National Secretary.
According to him, the deceased lived a fulfilled life dedicated to nurturing her family, serving humanity and upholding the principles of righteousness, leaving behind a legacy that would continue to inspire future generations.
Hon. Kumo urged the National Secretary and the entire bereaved family to remain steadfast in their faith and find comfort in the knowledge that Allah gives life and takes it at His appointed time.
He prayed that Almighty Allah, in His infinite mercy, forgives all the shortcomings of the deceased, accepts her good deeds, grants her peace and comfort in the grave, expands and illuminates her resting place, and admits her into Al-Jannatul Firdaus.
The APC chieftain also prayed for Allah to grant the bereaved family the strength, patience and fortitude to bear the painful loss.
“On behalf of my family and supporters, I sincerely sympathise with our National Secretary and the entire bereaved family during this difficult period. May Almighty Allah (SWT) forgive our dear mother’s sins, shower His endless mercy upon her, grant her the highest place in Al-Jannatul Firdaus, and bless the family with Sabr Jameel to endure this painful loss. Ameen,” Hon. Kumo said.
News
TCN Sensitizes Host Communities In Owerri On Infrastructure Security And Right-of-Way Compliance
By Jabiru Hassan
The Transmission Company of Nigeria (TCN) on June 25, 2026, held a sensitization programme with stakeholders in Owerri, Imo State, to strengthen infrastructure security, combat vandalism and soil excavation around transmission towers as well to educate the community on statutory Right-of-Way (RoW) regulations.
Speaking at the event, the Assistant General Manager (AGM), Technical Services, Port Harcourt Region, Dr. Raymond Chika Ubani, described TCN as the vital link transporting bulk electricity from generation to distribution. In his words, “simply speaking, we are like the trailer that goes to a company to carry manufactured goods to a warehouse where distributors then come to take the goods for distribution”. He urged traditional rulers and youth groups to act as guardians by maintaining active vigilance, and report suspicious activities around transmission installations.
Addressing safety compliance, the Principal Manager, Owerri Work Centre, Engr. Nnaemeka Aninwe, warned community members against patronizing scrap metal dealers who purchase and resell vandalized tower members. He also cautioned residents against using tower bases as refuse places, warning that the accumulation of waste generates corrosive chemical reactions that degrade the tower members. This, he said, can compromise the integrity of the tower legs.
Engr. Aninwe pleaded with residents to verify safety zones from transmission lines and towers before building or construction, he noted that the statutory Right of Way limits from the line, is 15 meters on both sides for 132kV transmission lines, and 30 meters on both sides for 330kV transmission lines.
Responding, the Deputy Chairman of Owerri Municipal Council, Hon. Lucky Abaraonye, assured TCN that the fight against vandalism is being carried out through a grassroot security architecture that the state government rolled out over the past six years in the state. He disclosed that the state government has deployed trained, 15-man security teams equipped with vehicles across the 21 autonomous communities in the area. At the end of the sensitization programme over 100 participants pledged to cooperate with TCN and security agencies to protect the transmission infrastructure within their communities.
News
Niger Delta Youth Council Backs PINL Managing Director, Commends Community Engagement
The Host Communities Youth Council of Nigeria (HOSTCON-YCN) has passed a vote of confidence in the Managing Director and Chief Executive Officer of Pipeline Infrastructure Nigeria Limited (PINL), Dr. Osahon Okunbo Jnr., citing what it described as the company’s contributions to pipeline security and community development.
In a communiqué issued after its National Executive Council mid-term meeting in Abuja, the council said PINL’s leadership had strengthened the protection of oil and gas infrastructure and contributed to increased crude oil production through enhanced surveillance and stakeholder engagement.
According to the council, improved protection of the Trans Niger Pipeline has helped curb crude oil theft, illegal refining and pipeline vandalism, while promoting operational stability and investor confidence.
HOSTCON-YCN also commended the company’s Host Communities Scholarship Programme, which it said supports about 1,500 undergraduate and postgraduate students across Rivers, Bayelsa, Abia and Imo states.
The council further praised PINL’s corporate social responsibility initiatives and skills acquisition programmes for women, youths and other vulnerable groups.It also acknowledged the contributions of Dr. Akpos Mezeh, General Manager, Community and Stakeholder Relations, and Chief Seriake Alamieyeseigha, Director of Operations and Stakeholder Engagement, to the company’s community engagement efforts.
In the statement signed by its President, Senior Comrade Emmanuel Fiawei Pathfinder, the council urged host communities, traditional rulers and security agencies to continue supporting efforts to protect critical oil and gas infrastructure.It also encouraged youths in host communities to reject pipeline vandalism and participate in empowerment programmes aimed at promoting peace, economic opportunities and sustainable development in the Niger Delta.
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