EFCC ARRAIGNS AUSTRIAN FOR UNDECLARED $800,585, €651,505 AT LAGOS AIRPORT. (PHOTO). #PRESS RELEASE.

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 EFCC Arraigns Austrian For Undeclared $800,585, €651,505 At Lagos Airport The Economic and Financial Crimes Commission, EFCC, Lagos Zonal Directorate 2, Okotie Eboh, Ikoyi, Lagos, on Friday, January 9, 2026, arraigned one  Kavlak Onal, an Austrian national arrested by the Nigeria Customs Service, NCS, for allegedly failing to declare the sums of $800,575 and €651,505 in his possession. He was arraigned before Justice Yelim Bogoro of the Federal High Court sitting in Ikoyi , Lagos.  Onal who was scheduled to travel on Emirates Airline to Dubai, was on Tuesday, December 16, 2025 intercepted  during a routine check at the AML/ CFT Currency Declaration Desk at the Murtala Muhammed International Airport, Ikeja, Lagos.
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GENCOS THREATEN NATIONWIDE SHUTDOWN OVER ₦4TRN DEBT. (PHOTO).

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 GenCos Threaten Nationwide Shutdown Over ₦4trn Debt


Power generation companies (GenCos) have warned of an imminent shutdown of power plants nationwide due to an outstanding ₦4 trillion debt owed by the Federal Government.


In a statement released on Monday by Col. Sani Bello (Rtd), Chairman of the Board of Trustees, Association of Power Generation Companies (APGC), the GenCos revealed they are owed ₦2 trillion for electricity supplied in 2024 and ₦1.9 trillion in legacy debts.


They lamented receiving less than 30% of their monthly invoices, citing severe cash flow constraints, regulatory hurdles, and inadequate government budgetary allocation for the sector.


The companies warned that failure to urgently address the liquidity crisis could lead to national grid collapse and security challenges, urging immediate action and a clear debt repayment plan.

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