NDLEA Seizes $4.8m, CFA57m Fake Currencies On Lokoja-Abuja Highway

The National Drug Law Enforcement Agency (NDLEA) has seized 4.9 million dollars and 57 million CFA suspected to be counterfeits on the Abuja-Lokoja Highway. The CFA, backed by the French treasury, is the legal tender in Francophone West and Central Africa and accepted in 14 countries. The Director, Media and Advocacy at the NDLEA, Mr Femi Babafemi stated on Sunday in Abuja that the suspected counterfeit notes were seized from a commercial bus travelling from Lagos to Kano. “A search of the bus led to the seizure of the 4.8 million dollars and 57 million CFA suspected to be counterfeits,’’ he stated. Babafemi also celebrated the jailing of an acting district head in Sokoto, Alhaji Umar Mohammed (aka Dan Bala) for five-and-a-half years for dealing in drugs. A Federal High Court in Sokoto presided over by Justice Ahmad Mahmud sentenced the acting district head after the NDLEA preferred a four-count charge of drug dealing against him in October 2022. The NDLEA told the court that Mohammed was in possession of and dealing in 436.38kg of Indian hemp and 7kg of other psychotropic drugs. The court sentenced Mohammed to two years on each of the first two counts with an option of N1 million fine, and eight months on each of the third and fourth counts without an option of fine. On Oct. 11, NDLEA operatives stormed Orue Forest in Owan West Local Government Area of Edo where they arrested one Happy Akashili (37) and Solomon Uwesue (40) in a hut located inside an Indian hemp farm. Babafemi stated that the farm measured 2.4 hectares and was destroyed, adding that 92kg already processed skunk were also recovered there. He added that 49kg of skunk was also seized at Ogbeturu camp in the area. The NDLEA spokesman stated also that the agency had been advancing its advocacy on drug supply reduction with the War against Drug Abuse (WADA) in campaigns in schools, markets, worship centres and communities. Babafemi added that one of the flagship programmes of the advocacy was the WADA sensitisation lecture on drug use and mental Health for students of 15 secondary schools at the University of Ibadan. The sensitisation lecture was also delivered in schools in Badagry, Lagos State; in Udi Local Government Area of Enugu State; in Awka; in Gombe; in Benue, Zamfara and in Kano.

FCCPC releases fresh list of approved loan Apps

*Places 20 Apps on watchlist The Federal Competition and Consumer Protection Commission (FCCPC) has released a fresh list of 154 companies it has given full approval to operate loan apps in the country, bringing the total now to 194. While the earlier published list of approved companies was taken down by the Commission for what it called ‘clean-up’, the new list just released is more detailed as it added the apps operated by each company under the approval list. The release of apps associated with the companies will allow customers to identify the companies behind the app they are using and also curtail cases of app duplicity by the companies. Aside from the companies given full approval, the Commission said 40 other companies have been issued conditional approval. This brings the total loan app companies recognized by the FCCPC to 194. Meanwhile, the Commission said it has also placed 20 loan apps suspected of engaging in unethical practices under its watchlist. These apps include those it recently requested Google to remove from the Play Store. According to the FCCPC, the loan apps that have been placed under the watchlist include Getloan, Joy Cash-Loan, Camelloan, Cashlawn, Nairaloan, Eaglecash, Moneytreefinance Made Easy, Luckyloan, and Cashme. Others are Crediting, Swiftkash, Hen Credit loan, Nut loan, Cash door, Cashpal, Nairaeasy gist loan, Swiftcash, Easynaira, Secucash, and Creditbox-Africa. The Chief Executive Officer of the FCCPC, Babatunde Irukera recently disclosed that many unapproved loan apps are still available on the Google Play Store, despite an agreement with Google that they should be removed. Irukera said the Commission would continue to engage with Google to clarify how and why apps that have not received relevant regulatory approvals are available on Google’s platform. “Under the Guidelines, only DMLs that have been subjected to regulatory scrutiny and compliance evidenced by written approval from the Commission are allowed on Playstore. The Commission notes that some DMLs have resorted to the use of Android Package Kits (APK) file formats to reach consumers outside of the Google Play Store. This appears to be a device by some of these DMLs to evade or avoid regulatory compliance,” he said. Irukera added that compliance with the Guidelines is mandatory for all DMLs regardless of whether they intend to be placed on Playstore, operate by APK file formats, or any other means for that matter. According to him, failure to comply with the Guidelines is a violation of law and renders any such operation illegal.