The Economic and Financial Crimes Commission (EFCC) has removed an Instagram post that quoted former Minister of Petroleum Resources, Diezani Allison-Madueke, addressing money laundering charges against her. The post, initially visible on the EFCC’s official Instagram handle, claimed that the former minister spoke in an interview in the United Kingdom. GOVIMA reports the former minister acknowledges that that she embezzled money from Nigeria. Read here Upon further investigation, it was observed on Saturday that the unsigned post had been taken down by the anti-graft agency. In response to the development, EFCC spokesperson Dele Oyewale denied the report, emphasizing that the agency…
Author: Editor Francis
The Central Bank of Nigeria (CBN), has officially lifted the ban on cryptocurrency transactions within the country. The apex bank has directed commercial banks to abandon their previous stance on crypto transactions, as outlined in a circular titled ‘Circular to all Banks and other Financial Institutions Guidelines on Operations of Bank Accounts for Virtual Assets Service Providers (VASPS).’ Dated December 22, 2023, and bearing reference number FPR/DIR/PUB/CIR/002/003, the circular, signed by the CBN’s Director of Financial Policy and Regulation Department, Haruna Mustafa, outlines the rationale behind this decision. The CBN had initially imposed restrictions on banks and financial institutions in…
Mixed reactions as France formally concluded its military collaboration with Niger Republic, its former colony, marking the end of a key security alliance in the West African region. The decision comes in the wake of deteriorating relations with the ruling military junta in Niger. France, a vital partner in the fight against jihadist groups affiliated with al-Qaeda and Islamic State in the Sahel, had over 1,500 troops stationed in Niger. The primary objectives were to combat terrorism and prevent its further spread across the region. Tensions escalated following the coup in Niger Republic in July, which saw the ousting of…
The Trade Union Congress of Nigeria (TUC) has called on the Central Bank of Nigeria (CBN) to promptly address the acute scarcity of the Naira, expressing concern over the impact on citizens. In a statement released on Friday, December 22, TUC President Festus Osifo and General Secretary Nuhu Toro emphasized the urgency of resolving the issue to alleviate the hardship faced by the working people. The TUC noted the sudden and unexplained scarcity of the Naira, making it challenging for citizens to access the currency through banks and Automated Teller Machines (ATMs). This scarcity has led individuals to resort to…
When you commerce Bitcoin, Cash App makes use of the mid-price and provides a selection payment. We have picked Gemini because the crypto trade with the most effective security as a end result of it has sturdy safety protocols, insures consumer funds, and is SOC 2-certified. So far, Bybit has by no means suffered a security breach, which reflects very properly on the company’s security controls. Bybit also publishes proof of reserves to reveal that it holds enough funds to cover all buyer deposits. However, we have to mention that whereas Bitstamp’s observe record on security is solid, it’s not…
President Bola Tinubu restated his administration’s unwavering dedication to the unity of Nigeria and ensuring the welfare and prosperity of all citizens, regardless of their ethnic or religious affiliations. The president conveyed this commitment during his address at the Ansar-Ud-Deen Central Mosque in Surulere, Lagos, as reported by his Special Adviser on Media and Publicity, Ajuri Ngelale. President Tinubu underscored that the economic reforms initiated by his government aim to establish a robust and secure foundation for current and future generations of Nigerians. He participated in Jumaat prayers marking the centennial anniversary of the Ansar-Ud-Deen Society of Nigeria (ADS), expressing…
In an official announcement, the Federal Government has declared Monday and Tuesday, December 25 and 26, 2023, as well as Monday, January 1, 2024, as public holidays to observe the Christmas and New Year’s Day celebrations. The declaration was made by the Hon. Minister of Interior, Dr. Olubunmi Tunji-Ojo, on behalf of the Federal Government. Dr. Tunji-Ojo extended felicitations to Christians and all Nigerians, both at home and in the Diaspora, on these occasions. Emphasizing the significance of the festive season, he urged Christians to reflect on the life of Jesus Christ, drawing inspiration from his teachings of humility, service,…
The French parliament has approved a stringent immigration law that imposes restrictions on Nigerian students and other migrants, preventing them from bringing their families into the country. The legislation, which received support from President Emmanuel Macron’s centrist Renaissance party and Marine Le Pen’s far-right National Rally, faced initial rejection last week but was redrafted and subsequently backed by right-wing parties. The revised immigration policy introduces tougher provisions, making it challenging for migrants to reunite with their families in France and delaying access to welfare benefits. The law also prohibits the detention of minors in detention centers, but leaders of…
As never before, the law and the 2024 election are poised to collide at the U.S. Supreme Court. All eyes are on what the justices will have to say if Trump’s team follows through on a vow to appeal the explosive ruling by the Colorado Supreme Court removing Donald Trump from the state’s GOP presidential primary ballot because, it said, he engaged in insurrection as part of the Jan. 6, 2021, attack on the U.S. Capitol. The case is already drawing comparisons to Bush v. Gore, when the high court created an enduring political firestorm by intervening to end a…
The Special Investigator probing the Central Bank of Nigeria (CBN), Jim Obazee, has discovered 593 bank accounts located in the United States, United Kingdom and China in which the Central Bank of Nigeria (CBN), under Godwin Emefiele, kept Nigerian funds without authorisation by the Board and Investment Committee of the bank. Premium Times Reveals The investigator also discovered how billions of naira were allegedly stolen by Mr Emefiele and other officials from the CBN’s accounts including a “fraudulent cash withdrawal of $6.23 million” – about N2.9 billion at the then official exchange rate of N461 to a dollar. Mr…
The African Development Bank board has approved financing for the second phase of the Tanzania – Burundi – DR Congo standard gauge railway Railway Gazette writes On December 12 the bank announced that it would provide Burundi with grants worth US$98·62m, and Tanzania with US$597·79m as loans and guarantees. This will support the construction of 651 km of electrified single track railway, divided into three lots: Tabora – Kigoma (411 km) and Uvinza – Malagarasi (156 km) in Tanzania, and Malagarasi – Musongati (84 km) in Burundi. A connection with the first phase in Tanzania will provide access to the…
Days after Pope Francis announced that blessings can be given to same-sex couples, Nigerians are questioning the Nigerian Catholic leadership about whether they will truly obey the Pope. In response, Pastor Kumuyi of Deeper Life Ministry opposes same-sex marriage, contrasting with the Pope’s decision. During the opening ceremony of the joint event “Emmanuel” at the Deeper Life International Conference Centre on Wednesday, Pastor William Kumuyi, the General Superintendent of Deeper Christian Life Ministry, expressed his disapproval of same-sex marriage, asserting that it contradicts the command of Jesus Christ to Christians. Kumuyi, addressing the gathering at the KM 48 Lagos-Ibadan Expressway…