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 a bid to boost local refining capacity, reduce the import of refined petroleum products, and curb pressure on foreign exchange supply, the Federal Government has placed an immediate freeze on the export of crude oil meant to meet the needs of domestic refineries in the country. Before now, about 500,000 barrels of crude oil per day meant for domestic refining have been finding their way to the international market…

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.…

The Nigerian government has expressed its intention to reduce the country’s reliance on external debt financing as part of a broader strategy to explore alternative sources of funding beyond traditional multilateral loans. This shift is expected to support Nigeria’s long-term economic growth and sustainability. The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, made this announcement during a meeting with the World Bank Executive Director, Dr.…

The Economic and Financial Crimes Commission (EFCC), on Monday, arraigned 29 Chinese, 10 Filipinos, one Malaysian, one Indonesian and one Pakistani before separate Federal High Courts sitting in Ikoyi, Lagos. The suspects were arraigned on charges bordering on alleged cybercrimes, cyber-terrorism, impersonation, possession of documents containing false pretence, and identity theft, among others. They were arraigned alongside a company, Genting International Co. Ltd., before Justices Ayokunle Faji ; D.I. Dipeolu;…

Stakeholders in Ogoniland, Rivers State, including the Movement for the Survival of the Ogoni People (MOSOP) and traditional rulers, have praised President Bola Tinubu for signing the bill that establishes the University of Environment and Technology, Tai, in Ogoni. The signing ceremony took place on Monday at the State House in Abuja, with notable attendees including Senator Mpigi Barinada, National Security Adviser Nuhu Ribadu, Minister of Education Dr. Tunji Alausa,…

The disconnection threats hanging over some Nigerian banks for Unstructured Supplementary Service Data (USSD) debt totalling N160 billion have been lifted as they (banks) make significant progress in repaying their outstanding debts to telecom operators. The banks, by their timely action, avoided service disconnection threats by the Nigerian Communications Commission (NCC) which could have resulted in a potential disruption and ultimately impact millions of users negatively. The banks, which faced…

The Nigeria Labour Congress (NLC) has suspended its proposed protests against the recent 50 percent increase in telecom tariffs by the Nigerian Communications Commission (NCC), citing the need for further engagement with government. President of the NLC, Joe Ajaero disclosed the decision after a meeting between the union and government officials at the Office of the Secretary to the Government of the Federation in Abuja on Monday. NEW DAILY PRIME…

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…

Teenager arrested after Harvey Willgoose stabbed at All Saints Catholic High School in Sheffield on Monday A 15-year-old boy has died after a stabbing at a school in Sheffield. Harvey Willgoose was stabbed at All Saints Catholic High School on Granville Road on Monday and taken to hospital, but died of his injuries. South Yorkshire Police said a 15-year-old boy has been arrested on suspicion of murder. The force received…

The leaders of Mexico and Canada each said they had struck agreements to pause tariffs for 30 days, but levies on products from China were still set to take effect just after midnight. Here are the latest developments. President Trump and the leaders of Mexico and Canada struck last-minute deals on Monday to postpone the imposition of hefty tariffs on goods exported to the United States, averting at least temporarily…

In a move that could redefine America’s role in Ukraine’s war effort, Donald Trump has signaled that further U.S. support for Ukraine will be contingent on securing access to the country’s rare earth materials. As of April 2024, the United States has provided approximately $175 billion in aid to Ukraine since the onset of Russia’s invasion in February 2022, covering military, economic, and humanitarian assistance. Of this, around $106 billion…