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Agbakoba Writes National Assembly, Says EFCC Is An Unlawful Organisation

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Agbakoba Writes National Assembly, Says EFCC Is An Unlawful Organisation

•EFCC is unconstitutionally established, says Agbakoba, looks forward to Supreme Court’s decision

 

Renowned lawyer, Dr. Olisa Agbakoba, SAN, has drawn the attention of the National Assembly to constitutional issues related to law enforcement agencies in Nigeria and factors inhibiting the Government’s objective of abolishing corruption as stated in Section 13 of the Constitution.

In two separate letters to the Senate and House of Representatives, dated October 14, 2024, he said the Economic and Financial Crimes Commission was an unlawful organisation, which he believed was “unconstitutionally established”.

“I very strongly believe the EFCC is unconstitutionally established. The powers under which it was established go beyond the powers of the National Assembly. The EFCC is an unlawful organization,” Agbakoba, a former President of the Nigerian Bar Association, said.

The letters were addressed separately to the Deputy Senate President, Senator Barau Jibrin; and Deputy Speaker of the House of Representatives, Hon. Benjamin Kalu. The Deputy Speaker doubles as the Chairman, House Committee on Constitution Review, while Senator Jibrin is Chairman, Senate Committee on Constitution Review.

Agbakoba noted that he was delighted to note that many states had finally taken it upon themselves to challenge the constitutionality of the EFCC, saying, “This will put to rest the question relating to the validity of the EFCC.”

The letter to the Deputy Senate President, titled, “Urgent Legislative Attention on Constitutional Reforms Relating to Law Enforcement Agencies and Anti-Corruption Efforts”, reads: “I commend you for the remarkable leadership you have demonstrated as Chairman, Senate Constitution Review Committee, particularly in advancing the government’s reform agenda through a robust constitutional framework. Your efforts to strengthen the legal infrastructure underpinning the nation’s development programs are indeed commendable.

“I write to draw attention to certain constitutional issues on matters related to law enforcement agencies. As you are obviously aware, the fundamental objective of the government is to abolish corruption. But from my observation, there is no harmony amongst law enforcement agencies on corruption. They all appear to be working at cross purposes.

“This has been confirmed by the Supreme Court in so many cases. The Supreme Court has consistently sanctioned the EFCC for its conduct and questioned if the EFCC can in fact validly do what it does. I will go further to say that I very strongly believe the EFCC is unconstitutionally established. The powers under which it was established go beyond the powers of the National Assembly. The EFCC is an unlawful organization.

“I am very delighted to note that many states have finally taken it upon themselves to challenge the constitutionality of the EFCC. This will put to rest the question relating to the validity of the EFCC. Whilst we await the decision of the Supreme Court as the final court on the matter, I respectfully request that the Senate convene a public hearing to consider these constitutional issues.

“Such a hearing would provide an invaluable platform for stakeholders to discuss the reforms needed to strengthen Nigeria’s legal and institutional frameworks for law enforcement and anti-corruption, which will meet the stated and laudable objective of the government to abolish corruption as stated in Section 13 of the Constitution.

“I trust that, under your capable leadership, the Senate Constitution Review Committee will give these matters urgent attention in the interest of our nation’s development.

Thank you for your consideration of this important matter. I look forward to your response.”

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Alpha Morgan Bank Delivers Historic N1.9 billion PBT in First 10 Months of Operations

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Alpha Morgan Bank Delivers Historic N1.9 billion PBT in First 10 Months of Operations

 

Alpha Morgan Bank has announced a landmark financial performance, recording Profit Before Tax of N1.9 billion in just 10 months of operations, a result that stands as a major milestone in Nigeria’s banking industry and reinforces the Bank’s emergence as one of the country’s most remarkable new-generation financial institutions.

With this performance, Alpha Morgan Bank did not only break-even within an exceptionally short period, but also delivered what is believed to be a record-setting early-profit performance in the Nigerian banking sector, underlining the strength of its strategy, the discipline of its execution and the confidence the market has placed in its business model.

The Bank’s strong debut performance was supported by robust growth across key financial and operating indicators. Highlights of the 10-month financial statement include customer deposit of over ₦103BN, gross earning of ₦13.1 billion, net interest margin of 67%, non-performing loan ratio of 0%.

The performance was driven largely by strong synergy in customer acquisition and branch expansion, a deliberate focus on growth in demand deposits, creation of quality risk assets and balance sheet efficiency. These achievements were further supported by robust operational processes powered by sound technology and systems, management depth and expertise, experience and strategic oversight provided by the Bank’s Board.

Speaking on the performance, the Managing Director, Ade Buraimo, described the result as a significant validation of the Bank’s vision, business model and execution capacity.

“This is more than a financial milestone; it is a strong statement of what is possible when vision, discipline, sound execution, and market opportunity come together. From inception, Alpha Morgan Bank was built to be a commercial bank that is solution-driven and committed to delivering value at scale. To record a PBT of N1.9 billion in our first 10 months of operations is both historic and deeply encouraging. It reflects the dedication of our people, the trust of our customers and the solid foundation we have laid for long-term growth.”

 

 

 

About Alpha Morgan Bank

Alpha Morgan Bank is a customer-centric, innovative, and solutions-driven commercial bank, with a clear commitment to delivering “Satisfying Banking.”

Alpha Morgan Bank commenced operations in March 2025 with the rare distinction of regulatory approval for 14 branches across the country. This early footprint, combined with disciplined market execution, has enabled the Bank to build momentum across key business segments in record time.

Alpha Morgan Bank focuses on:

  • Human-Centred Technology: Digital tools designed for intuitive, everyday relevance and not vanity metrics.
  • Transparent Operations: From pricing to service promises, every process is clear, accountable, and customer friendly.
  • Customer-Centric Innovation: Continuously developing solutions and services driven by customer insights to deliver meaningful value and enhance satisfaction.

More than a financial institution, Alpha Morgan Bank positions itself as a partner in progress. Its vision is to drive possibilities, enable dreams, and reemphasize what it means to experience Satisfying Banking in Nigeria.

More about Alpha Morgan Bank on www.alphamorganbank.com

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BREAKING: PSG Retain Champions League Title After Penalty Shootout Victory Over Arsenal

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BREAKING: PSG Retain Champions League Title After Penalty Shootout Victory Over Arsenal—-French champions edge Gunners 4-3 on penalties in Budapest to secure back-to-back European crowns.

Paris Saint-Germain successfully defended their UEFA Champions League title after defeating Arsenal 4-3 on penalties following a 1-1 draw in the final at Budapest’s Puskás Aréna. PSG became only the second club in the modern Champions League era to retain the trophy in successive seasons.

Arsenal made the perfect start to the final when Kai Havertz fired the Premier League champions into an early lead in the sixth minute, giving Mikel Arteta’s side hope of winning the club’s first-ever Champions League title.

The holders responded in the second half, with Ballon d’Or winner Ousmane Dembélé converting a penalty in the 65th minute after a foul on Khvicha Kvaratskhelia, bringing PSG level and setting up a tense finish.

Neither side could find a winner during the remainder of normal time or extra time, forcing the final into a dramatic penalty shootout. PSG held their nerve from the spot, while Arsenal defender Gabriel missed the decisive penalty, blasting his effort over the crossbar.

The victory caps another remarkable European campaign for Luis Enrique’s side, who reached the final after eliminating FC Bayern Munich in the semi-finals and entered the showpiece as defending champions.

For Arsenal, the defeat is a heartbreaking end to an otherwise historic season. Arteta’s men arrived in Budapest having won their first Premier League title in 22 years and reached their first Champions League final since 2006, but they fell just short of completing a memorable double.

PSG’s triumph further cements their place among Europe’s elite, while Arsenal will be left to reflect on a campaign that brought domestic glory but ended in European heartbreak.

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