Investing.com - Financial Markets Worldwide
Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

UPDATE 2-Nigeria's Senate approves president's nominee for anti-corruption chief

Published 24/02/2021, 14:42
© Reuters

(Adds background)
By Camillus Eboh
ABUJA, Feb 24 (Reuters) - Nigeria's Senate on Wednesday
unanimously approved a new anti-corruption chief nominated by
President Muhammadu Buhari.
The Senate approved Abdulrasheed Bawa, a regional head of
the Economic and Financial Crimes Commission (EFCC), in a voice
vote.
The EFCC investigates and prosecutes corruption in Africa's
largest oil exporter and its biggest economy. Bawa will now take
charge of a string of high-profile investigations, including
into alleged wrongdoing by P&ID, a gas firm with a $10 billion
arbitration award that Nigeria is working to overturn.
Bawa told senators that his 16 years at the EFCC had
prepared him well for the top job.
"I am versed in the investigation of advance fee fraud,
money laundering, public sector corruption and other financial
crime-related issues," he said during the confirmation.
Buhari suspended the previous EFCC chief, Ibrahim Magu, last
year after allegations that he had diverted funds recovered by
the agency into private pockets, charges Magu's lawyer has
denied. Nigeria has struggled for decades with endemic corruption.
Last year, the government announced plans to form an agency to
manage the money and assets seized domestically or returned from
abroad following anti-corruption investigations to prevent
further misuse of the assets.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.