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EFCC has linked up with FBI to give criminals a run for their money

Jun 17, 2024

Rise and shine, Big Brains of The Big Daily. I’m so psyched about the fact that I can finally wish you a happy Monday and mean it. Shout out to all our Muslim readers, we hope you find more reasons to celebrate. Now, let’s help you start your week on a smart note.

- Margaret

Word count: ~1,000
Reading time ~3 mins

This Week’s Big Question - “What’s that one book you think everybody should read at least once in their lifetime?” Share your responses with us and if we think it’s fun enough, we’ll feature it in the newsletter :) so be on the lookout.

Let’s get into the big news you missed during the weekend:

FBI and EFCC team up to fight financial crime
FIRS drops tax charges against Binance executives after US lawmakers’ petition
Lagos health officials confirm 17 cholera cases and 350 suspected cases

The Big Deal

FBI and EFCC team up to fight financial crime

It’s not a good time to be a financial offender in Nigeria because the Economic and Financial Crimes Commision (EFCC) just announced a partnership that could potentially become a strong force against financial crimes.

In what would probably go down in The Big Daily’s history book as the most interesting link up since Tems and Asake, EFCC and the US’ Federal Bureau of Investigation (FBI) have announced a team up to fight cybercrime and other criminal acts in Nigeria.

FBI Director, Christopher Wray confirmed this after a meeting with EFCC chairman, Ola Olukoyede in Abuja.

“We have had a relationship over the years and this is a reflection of how stronger than ever we are looking forward to taking our partnership to higher and higher levels in tackling threats that affect the people of Nigeria and the people of the United States,” Wray said.

Olukoyede also hinted that the partnership will likely help EFCC to take new directions that focus on crime prevention, public enlightenment, and e-procurement to tackle contract and procurement fraud.

This partnership came a few hours after Wray said he was in the country to foster the “outstanding partnership” that exists between the Nigerian government and the government of the United States when he met with President Tinubu. The president who seemed open to the partnership also told Wray that his administration has been “working hard to eliminate terrorism, cybercrimes, and sextortion”.

Why is this a big deal?

Money laundering and other financial crimes contribute to Nigeria’s failing economy. According to Research Gate, money laundering has a harmful effect on the Nigerian economy, and its effect has a 5% significance level. The EFCC has been trying to reduce this (and other financial crimes) to the barest minimum but we can’t really say they’ve had much luck. The FBI has some of the best technological resources to help Nigeria achieve this. This collaboration could lead to stricter policies and stronger investigations that could potentially lead to the eradication of financial crimes in Nigeria.

FIRS drops tax charges against Binance executives after US lawmakers’ petition

Everything that has a start definitely has an end. Big Brains – this is not a drill, the Nigerian government has folded. If you’ve been reading The Big Daily every morning (which you should btw), you already know all the deets about the Binance executives VS Nigerian government drama.

Last Friday, the Federal Inland Revenue Service (FIRS) dropped all charges against Binanance executives, Tigran Gambaryan and Nadeem Anjarwalla who were accused of tax evasion. This may be related to the effort of the sixteen US lawmakers who accused Nigeria of holding Gambrayan hostage. Binance as a company still has a case with the government but Gambrayan who spent 110 days in detention and Anjarwalla who pulled a Prison Break move on March 22 are free as far as tax evasion charges are concerned.

Sadly for Gambaryan, who his lawyers say is suffering from malaria and pneumonia, his path to full freedom is still a long way off. He’s going to remain in custody because he’s still facing money laundering charges from EFCC and the court hasn’t made a ruling on the case yet.

Where is Anjarwalla?

The crypto bro who was found in Kenya after he escaped from detention was set to be extradited to Nigeria to face tax evasion charges by the International Criminal Police Organisation (INTERPOL) – an action that is no longer necessary. For all we know, Anjarwalla may be somewhere sipping Mai Tai and telling strangers how he pulled the most epic prison break in Nigeria.

Lagos health officials confirm 17 cholera cases and 350 suspected cases

TBD readers in Lagos, we hope you’ve been washing your hands and eating clean food because the cholera outbreak seems to be spreading across the state. The Lagos Ministry of Health has announced that there are now 17 confirmed cases of cholera in the state.

According to Health Commissioner Professor Akin Abayomi, 350 suspected cholera cases have been reported across 29 wards in various local government areas (LGAs), resulting in 17 confirmed cases and 15 deaths so far.

Abayomi said, "Our lab tests have confirmed the presence of a severe cholera subtype, O-1. We are seeing varied patterns of new cases each day across different LGAs, based on our continuous monitoring and surveillance.”

Although there has been an increase in cases since three days ago, Abayomi confirmed that cases in previously affected LGAs are already reducing due to ongoing interventions and surveillance. But new cases are being recorded in areas that were not unaffected before, showing a need for all Lagos residents to follow strict hygiene measures.

"We are inspecting facilities and distributing cholera kits to health centres across the state. Our response also includes providing Oral Rehydration Solutions (ORS) and conducting public health education campaigns."

The commissioner also asked Lagos residents to immediately report symptoms like watery stool or vomiting to control the spread and save lives. "Treatment for suspected cholera is available free of charge at all government facilities as part of our public health response," he added.

The Big Picks

No EndSARS Protester Still In Detention, Police Reply Shehu Sani: The Nigeria Police Force says none of the protesters arrested during the October 2020 demonstration against police brutality is still in detention.

Taraba State Governor is Prepared To Pay New Minimum Wage As Soon As Labour and FG Agree: Taraba State Governor, Agbu Kefas, says his government is prepared to pay the new minimum wage agreed upon between the Federal Government and organised labour.

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