Author: Friday Omosola

In a significant move to bolster national financial security and facilitate Nigeria’s exit from the Financial Action Task Force’s (FATF) grey list, the Economic and Financial Crimes Commission (EFCC), in collaboration with the Nigeria Customs Service (NCS) and the Nigeria Financial Intelligence Unit (NFIU), organised a two-day empowerment workshop for fifty law enforcement officers. The workshop, themed “Proactive Detection of Non/False Currency Declaration and Application of Appropriate Sanctions”, took place in Abuja. During the opening address, EFCC Chairman, Ola Olukoyede stressed that the workshop was a critical government initiative aimed at exiting the FATF grey list—a step he insisted was…

The Economic and Financial Crimes Commission (EFCC) has re-arraigned former Minister of Power and Steel Development, Olu Agunloye, on seven revised charges. This development follows the amendment of the original allegations, which were initially presented on January 10, 2024. The updated charges, which centre on fraudulent contract awards and official corruption, were formally brought before Justice J.O. Onwuegbuzie at the High Court in Apo, Abuja, within the Federal Capital Territory. Count one read “That you, Olu Agunloye, whilst being the Minister of Power and Steel on or about the 22nd of May, 2003 in Abuja within the jurisdiction of this Honourable…

The Ogun State Government has suspended Oba Abdulsemiu Adewale Ogunjobi, the Olorile of Orile-Ifo, for six months over conduct deemed unbefitting of a traditional ruler.   In a statement on Monday, the Special Adviser to Governor Dapo Abiodun on Communication and Strategy, Kayode Akinmade, stated that the suspension was necessary to uphold human dignity and preserve the sanctity of the revered traditional institution. According to The New Daily Prime, the monarch was captured in a viral video assaulting Chief Arinola Abraham Love. READ ALSO: Ogun govt suspends teacher, queries principal over pupil’s death Following the incident, both the monarch and his…

The Federal Executive Council (FEC) on Monday approved an allocation of N4.8 billion for the procurement of HIV treatment packs to support Nigerians living with HIV/AIDS. The approval follows an emergency humanitarian waiver granted by the US government, reversing a previous funding pause on HIV treatment in developing countries, including Nigeria.  This pause had been ordered under an executive directive by former US President Donald Trump as part of a broader review of foreign aid. Nigeria has been heavily reliant on international assistance, particularly from the US President’s Emergency Plan for AIDS Relief (PEPFAR), to fund HIV initiatives. The N4.8…

The Minister of State for Finance, Doris Uzoka-Anite, has reaffirmed the federal government’s (FG) commitment to sound fiscal management and sustainable economic development through the introduction of the revised policy on Cash Management and Bottom-Up Cash Planning. Uzoka-Anite made the statement during the Stakeholders Review Meeting on the Implementation of the Revised Policy on Cash Management and Bottom-Up Cash Planning Protocols, held in Abuja.  The Minister emphasised that the revised policy, introduced in 2024, marks a critical milestone in the government’s efforts to streamline fiscal management and promote economic growth. “This policy represents a pivotal step in ensuring that funds…

The Economic and Financial Crimes Commission (EFCC) has called for stronger collaboration with student union leaders from institutions of higher learning across Nigeria in the battle against economic and financial crimes, particularly internet fraud.  This plea was made by EFCC Chairman, Ola Olukoyede, during an interactive session with the Student Union Executives of the University of Benin, Benin City, Edo State. Speaking through the Acting Zonal Director of the Commission’s Benin Directorate, Assistant Commander of the EFCC, ACE I Effa Okim, Olukoyede emphasised the importance of student leaders in the fight against internet fraud, which has tarnished the country’s image. …

President Bola Tinubu has signed into law the bill establishing the Federal University of Environmental Technology, Ogoni, in Rivers State. Tinubu’s Special Adviser on Public Communications and Media, Daniel Bwala, announced this in a statement on his X page on Monday.   He stated that President Tinubu’s Renewed Hope administration is committed to correcting past injustices and establishing institutions to prevent future segregated developments. Bwala said: “I am pleased to inform Nigerians that MrPresident Bola Tinubu has assented to the bill establishing the Federal University of Environmental Technology, Ogoni, in Rivers State. READ ALSO: Igboho urges Tinubu to caution Shettima over…

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has praised NEV Electric, an indigenous electric vehicle company under Brilliant Model Technology, for its groundbreaking contribution to Nigeria’s transportation sector. During a firsthand experience with NEV Electric’s buses yesterday, Edun commended the company’s innovation in sustainable mass transit, which aligns with President Bola Tinubu’s Renewed Hope Agenda for cleaner and more efficient transportation across the country. He emphasised that the initiative holds significant potential to create jobs, enhance energy security, and improve urban mobility. READ ALSO: Finance Minister unveils anti- poverty plans The minister highlighted that such innovations…

The Lagos State Government has reiterated its zero-tolerance stance against child trafficking, particularly the illegal buying and selling of children, vowing to intensify efforts to protect the rights and welfare of every child in the state. Commissioner for Youth and Social Development, Mobolaji Ogunlende, made this declaration at a press briefing at the Zone II Police Command Headquarters in Onikan, Lagos.  The event also marked the handover of several rescued children from the Nigeria Police Force to the Ministry. Commending the police for their efforts, Ogunlende revealed that five children—Marvelous Obi (M, 1 year old), Promise Ifekwuna (M, 3 years…

The Federal Inland Revenue Service (FIRS) has introduced new withholding tax regulations aimed at improving tax collection, increasing compliance, and boosting government revenue to support economic growth. In a statement released yesterday, Collins Omokaro, Special Adviser on Communication and Advocacy to the Executive Chairman of FIRS, highlighted that the updated system is designed to enhance efficiency, ensure transparency, and promote accountability among businesses and employers.   The new framework mandates the deduction of taxes at the point of payment for various transactions, including salaries, rent, professional fees, and dividends. By placing the responsibility on businesses and employers to withhold and remit…