The Zonal Director of the Economic and Financial Crime Commission in charge of Edo, Delta and Ondo states, Effa Okim, has revealed how underage Internet fraudsters, commonly called Yahoo Boys, declare false age to obtain driving licence, which they then use to open bank accounts for warehousing illicit funds. The zonal director revealed this during […]
Shareholders of Zenith Bank Plc Wednesday approved the proposed final dividend payment of N3.50 per share, bringing the total dividend for the 2023 financial year to N4.00 per share, with a total value of N125.59 billion. This is the highest dividend payout by any bank, the bank stated. This was the major highlight of the […]
Operatives of the Economic and Financial Crimes Commission, EFCC, Abuja Zonal Command on Wednesday arrested 29 suspected internet fraudsters. The suspects were arrested at the Apo, Gwarimpa and Katampe axis of Abuja. The anti-graft agency in a statement said their arrest followed actionable intelligence about their suspected involvement in internet fraud. Items seized from the […]
THE Trade Union Congress, TUC, of Nigeria, presidential candidate of the Labour Party in the 2023 elections, Mr Peter Obi, and the Coalition of Northern Group, CNG, have condemned the cybersecurity levy introduced by the Central Bank of Nigeria, CBN. While TUC described the levy expected to take effect within two weeks from May 6, as a […]
The declining fortunes of the Naira persisted yesterday with further depreciation in the parallel and official markets due to the re-emergence of speculation and hoarding, even as some Bureaux De Change, BDCs withdrew from the Central Bank of Nigeria, CBN’s, dollar sales program. Despite the sustained nationwide raids and arrest of street currency hawkers, the Naira further […]
The Federal Government has described as blackmail, the allegation by the cryptocurrency exchange giant, Binance, that some officials demanded a $150m bribe to settle the criminal charge filed against the firm. The Minister of Information and National Orientation, Mohammed Idris, in a statement on Wednesday, dismissed the claims as baseless and part of a wider […]
The Economic and Financial Crimes Commission is probing 10 senior officers of the Nigeria Security and Civil Defence Corps over an alleged N7.5bn fraud. The anti-graft agency has also invited 10 contractors linked with the alleged fraud. The EFCC Chairman, Ola Olukoyede, had on April 26, 2024, written a letter to the NSCDC CG, inviting […]
Shell Nigeria says it exclusively paid a total of $1.09bn in corporate taxes and royalties to the Nigerian government in 2023, through the operations of the Shell Petroleum Development Company of Nigeria Limited and Shell Nigeria Exploration and Production Company of Nigeria Limited. The figures, announced in the just published 2023 Shell Briefing Notes, showed […]
Operatives from the Economic and Financial Crimes Commission on Tuesday reportedly arrested some Bureau De Change operators at the popular Wuse Zone 4 market on Tuesday. This came as traders also said some BDC operators resisted the arrest during a sting operation. The operatives had embarked on routine raids to sanitise the market of street […]
The Central Bank of Nigeria (CBN) has ordered all banks to start charging a 0.5 per cent cybersecurity levy on all electronic transactions within the country excluding 16 listed banking deals. According to a circular signed by the Director, Payments System Management Department, Chibuzo Efobi; and the Director, Financial Policy and Regulation Department, Haruna Mustafa; […]
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