The Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa has presented awards to three winners of the 2021 EFCC Essay Competition.

The awardees were presented with their accolades at the EFCC’s headquarters in Abuja, as Bawa charges them to be good Ambassadors, as disclosed on the commission’s social media page.

“The Executive Chairman of the EFCC, Abdulrasheed Bawa on Wednesday, August 10, 2022, at the Commission’s headquarters in Abuja presented awards to the three winners of the 2021 EFCC Essay competition titled: “How to Fight Economic and Financial Crimes to Make Nigeria Great.” EFCC wrote.

The winners of the competition in order, are;

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1. Ehizogie Iyeomoan, an undergraduate student of Law at the Ambrose Ali University Ekpoma, Edo State.
2. Omtoso Abiola Sodiq, an Engineering student of the University of Ibadan, Oyo State
3. Zeenat Magaji an undergraduate of Cyber Security at the Federal University of Technology Minna, Niger State.

“We encourage you not only to serve as role models but change agents by shunning all acts of corruption and economic crimes. Bawa said.

“It is no use lamenting that things are not right with our country. We are inviting you to invite others to lend a hand in helping us build a society.”

The EFCC Boss promised to institutionalize the essay competition as an annual event to enable other Nigerians to lend their voices to the anti-graft fight.

The Labour Party Presidential Candidate has requested that Nigeria avoids borrowing for the sole purpose of consumption.

Revealing this in a tweet, the former Anambra Governor disclosed that investment should be the only right reason the country should borrow.

“As a matter of urgency, Nigeria must stop borrowing for consumption, but only borrow to invest in regenerative development projects and other productive ventures. Obi wrote.

“It’s ironic that States that received fiscal bailouts did not invest them properly; did not repay the loans and are still borrowing beyond their revenue earnings.

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“Also, it has become imperative to restrict Federal borrowings to the statutory 5% of the previous year’s revenue.”

In 1999, Olusegun Obasanjo’s government met $28 billion as foreign debt, it left $2.11 billion in 2007 after successfully securing a write-off by the London and Paris clubs of foreign creditors.

The Yar’adua government added $1.39 billion to what they met, and the Jonathan government incurred an additional $3.8 billion, taking the country’s total foreign debt to $7.3 billion when that administration came to an end in 2015.

Nigeria’s external loan reached $28.57 billion by December 2020, meaning an extra $21.27 billion had been accumulated under the Buhari administration — three times the combined amount by past governments since 1999.

For domestic debt, considered relatively less harmful to the value of Naira than foreign debt, the figure rose from N795 billion in 1999 when the Obasanjo government came to power, to N8.8 trillion in 2015 when the Buhari administration assumed office. By December 2020, Nigeria’s domestic debt stood at N16.02 trillion, twice as much as the combined amount taken by the past three governments.

The Economic and Financial Crimes Commission (EFCC) has arrested 29 suspected internet fraudsters, as Iphones, motorbikes, and Laptops, amongst others were recovered.

The law enforcement agency, lists the names of the apprehended, disclosing that they will be charged to court as soon as the investigations are concluded.

“Operatives of the Ibadan Zonal Command of the EFCC, on Wednesday, August 3, 2022, arrested twenty-nine (29) internet fraud suspects in a sting operation at the Omi-Adio area of Ibadan, Oyo State. EFCC stated.

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The suspects are;

• Abdullahi Kehinde Tawab
• Ayomide Alase Abiodun
• Hassan Larla Olamilekan
• Makinde Adebowale Saheed
• Tofunmi Oyebade Segun
• Rotimi Gbadamosi Ayomide
• Igbamidun Joshua Olamiposi
• Gbadamosi Samson Tobiloba
• Qodir Ayoola Babalola
• Frank Obi Ogechukwu
• Olawale Abowaba Joshua
• Dauda Kareem Oladayo
• Hammed Dauda Akanji
• Yusuf Akorede Abiodun
• Haruna Adedoyin Kayode.
• Yusuf Lawale Raji
• Adejare Ayuba Olamide
• Owolabi Gbadamosi Moses
• Victor Salami Gbenga
• Abdullahi Teslim Taiwo
• Oluwaseun Abowaba Samuel
• Alase Ayodele Philip
• Oduola Kunmi Ireola
• Ajayi Olumide Olamilekan
• Opeyemi Samuel Enitan
• Yusuf Ayobami Qudus
• Atanda Jamiu Olamide
• Ibrahim Bashit Alade
• Ilori Peter Oladapo

“Items recovered from them include mobile phones, laptops, two motorbikes, one i-watch, video games, and jewelry. They will be charged to court as soon as the investigations are concluded.”