By Willy Okonji-
Lagos, Nigeria, May 12, 2025 – The Economic and Financial Crimes Commission (EFCC) has announced it is investigating Chief Government Ekpemupolo, popularly known as Tompolo, over allegations of “naira abuse.” In a brief statement accompanied by an image posted on the anti-graft agency’s official X handle on Monday, the EFCC said Tompolo “has a case to answer for abusing the national currency.”
The EFCC’s post did not elaborate on the precise nature of the alleged abuse, nor did it detail the investigative or prosecutorial steps the agency plans to employ. Observers note that “naira abuse” can encompass a range of offences, from the willful defacement of banknotes to large-scale currency manipulation or illicit dealings in foreign exchange.
Chief Tompolo, a former Niger Delta militant leader turned oil services contractor, has in recent years cultivated close ties with high-ranking government officials, securing multi-billion-naira oil and security contracts. His prominence in both political and commercial circles makes the EFCC’s move particularly noteworthy, underlining the agency’s intent to pursue high-profile targets in its bid to shore up public confidence in Nigeria’s currency and financial integrity.
Legal experts suggest the next steps could include summonses for questioning, asset declarations, or formal charges in a federal court—though the EFCC’s terse announcement gave no indication of timeline. The agency’s strategy in previous currency-related cases has ranged from rapid arrests to prolonged inquiries, depending on the strength of evidence.
As of this writing, neither Chief Tompolo nor his legal representatives have issued a response to the EFCC’s statement. The public awaits further clarification from the Commission on how it intends to proceed and whether this investigation will lead to formal charges.
The development comes amid growing concerns over the naira’s stability, with currency depreciation and counterfeit operations placing pressure on Nigeria’s central bank and broader economy. Analysts will be watching closely to see if the EFCC’s actions yield concrete measures to deter currency abuses and reinforce the naira’s credibility both at home and abroad.
