Finance

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 […]

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; […]

The Nigerian Institution of Estate Surveyors and Valuers (NIESV) has expressed concern over the inability of the government to produce the exact value of real estate assets across the country. President of NIESV,  ESV Victor Alonge, made the disclosure on Monday in Abuja during an event to commemorate the 2024 International Valuation Day Celebration with […]

The Economic and Financial Crimes Commission has arrested six senior officers of the Nigeria Security and Civil Defence Corps over alleged N6bn fraud. The senior officers are currently being grilled by EFCC interrogators at the commission’s headquarters, Jabi, Abuja, Though details of the probe are still sketchy, our correspondent gathered that the NSCDC officers were […]

In pursuit of securing a new $750m loan from the World Bank, the Federal Government may reintroduce previously suspended telecom tax and other fiscal measures. This is according to the Stakeholder Engagement Plan for Nigeria – Accelerating Resource Mobilisation Reforms programme between Nigeria and the World Bank. A copy of the plan’s document posted on […]

The Federal Government, through the Securities and Exchange Commission, is set to delist the naira from all peer-to-peer crypto platforms as the government steps up efforts to tackle exchange rate manipulators and dollar racketeers. The development came against the backdrop of the recent moves by the Federal Government to regulate Nigeria’s crypto market estimated at […]

The volume of dollar traded (turnover) in the Nigerian Foreign Exchange Market, NAFEM, declined month-to-month (MoM) by 37.4 percent to $3.47 billion in April 2024 from $5.54 billion in March 2024. Vanguard analysis of weekly  transactions in the market as published by FMDQ showed that turnover stood at  $836.66  million in the first week of April […]

The International Rescue Committee (IRC) has allocated 84.4 million across Borno, Adamawa, and Yobe to tackle malnutrition, provide economic empowerment through cash assistance, offer innovative education outreach for out-of-school children, and extend agricultural support. Country Director of IRC, Mr. Babatunde Ojei, who stated this during a town hall meeting in Yola, said the donation is […]