Suspect Declared Wanted For N2 Billion Fraud Nabbed

Operatives of the Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, have arrested an unlicensed foreign exchange dealer, Chike Nosa Agada for an alleged N2bn fraud.

The anti-graft agency in a statement on Monday said that Agada, a 37-year-old native of Udi Local Government Area of Enugu State, was declared wanted by the Commission on Wednesday, October 11, 2023, for obtaining money by false pretence and stealing by conversion to the tune of N2billion

The statement reads, ‘’He was arrested at a residence in the Bourdillion, Ikoyi area of Lagos on Monday, October 16, 2023, during a sting operation by operatives of the Commission, following credible intelligence linking him to the alleged fraud.”

The statement also adds that upon his arrest, a mobile device was recovered from him.

The agency says he will be charged to court as soon as investigations are concluded.

Why EFCC, ICPC Chairmen Can Not Come From Same Zone

Meanwhile, human rights lawyer, Femi Falana (SAN) on Monday, said it is against the federal character principle for the chairmen of the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to come from the same geopolitical zone.

According to Falana, if the chairman of EFCC is from the northern region, the southern region should produce the chairman of ICPC.

Speaking on Channels TV on Monday he said, “If you are going to have the EFCC and the ICPC, the heads cannot come from same zone.”

Falana further stated that the new Chairman of the EFCC, Ola Olukoyede, is “eminently qualified” to head the anti-graft agency having previously served as Chief of Staff to the EFCC Chairman (2016-2018) and Secretary to the Commission (2018-2023) as well as having 22 years cognate experience.