Finance

Embattled former Minister of Aviation, Hadi Sirika, has spent his second night in the custody of the Economic and Financial Crimes Commission, over an ongoing N8,069,176,864.00 money laundering probe. This was as the anti-graft commission began a probe into the alleged fraud involved in the botched Nigeria Air project. Top EFCC sources privy to the […]

Nigeria’s external reserves shed $2.16 billion in the past month, falling to a seven-year low of $32.29 billion on April 15, 2024, from $34.45 billion on March 18, 2024, according to CBN data. A recent Bloomberg report suggested that Nigeria is burning through its foreign exchange reserves at a rate not seen in four years, […]

A former Minister of Aviation, Hadi Sirika, was yesterday arrested and taken into custody by the Economic and Financial Crimes Commission (EFCC) over its ongoing probe on the botched Nigeria Air project, Daily Trust reports. Apart from the project, Sirika was still being grilled at the time of filing this report last night over alleged […]

The chairman of the Economic and Financial Crimes Commission, Mr.Ola Olukoyede, insisted yesterday that the anti-graft agency would do everything humanly possible to bring the immediate past governor of Kogi State, Alhaji Yahaya Bello, to account for his tenure in office. Olukoyede, who briefed the media in Abuja, said Yahaya Bello was using some antics to try […]

The Economic and Financial Crimes Commission, on Tuesday, urged Justice Emeka Nwite of the Federal High Court Abuja to deny the bail application of the detained Binance Holdings Limited executive, Tigran Gambaryan. The anti-graft agency said it was too risky to admit the foreigner to bail, noting the escape of his co-defendant, Nadeem Anjarwalla, from […]

THE Federal Ministry of Finance has recovered over N57bn from the N5.2tn debts owed by ministries, departments and agencies to the Federal Government. The Director, Special Projects, Federal Ministry of Finance, Aisha Omar, disclosed this in Enugu on Tuesday, during a one-day workshop on the Federal Government Debt Recovery Drive, through the Project Lighthouse Programme […]

•EFCC gets order to freeze 300 accounts, says one account transacted $15bn illegally •Naira would have crashed massively if 300 accounts were not frozen – Chairman The Economic and Financial Crimes Commission may prosecute 300 forex racketeers trading on a peer-to-peer platform outside the financial regulations. The EFCC Chairman, Ola Olukoyede, who gave this indication […]

For the second consecutive time, Naira on Monday slightly depreciated at the official market, representing a 5.51 per cent loss when compared to the previous trading date on Friday, April 19, when it exchanged at N1,169.99 to a dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign […]