A female trader at the popular Ogbo-Ogwu Bridgehead Market in Onitsha, Anambra State, has dragged the National Agency for Food and Drug Administration and Control (NAFDAC) and its Director-General to the Federal High Court in Awka, seeking ₦15 million in damages over an alleged unlawful raid on her clothing shop. The trader, Sophie Eberechukwu Okoye,…
The Economic and Financial Crimes Commission (EFCC) has declared two additional individuals wanted in connection with the Crypto Bridge Exchange (CBEX) investment fraud, which reportedly defrauded over 600,000 Nigerians of more than ₦1.3 trillion. The newly declared suspects are Folashade Odelana (31) and Bamidele Ayodele Abiodun (32), both last traced to No. 17, Oremeta Street,…
The Nigerian Communications Commission (NCC) has issued a new directive mandating all Deposit Money Banks (DMBs) to charge customers for USSD transactions directly from their mobile airtime, instead of their bank accounts. In an official communication sent to customers on Tuesday, June 3, 2025, United Bank for Africa (UBA) announced the immediate implementation of this…
In a significant move to stabilize Nigeria’s struggling power sector, the Presidency has begun internal approval processes aimed at clearing the ₦2 trillion legacy debt owed to electricity generation companies (GenCos). The debt resolution is expected before the end of the current quarter, according to a senior energy official. This announcement was made during the…
Tony Elumelu, Chairman of United Bank for Africa (UBA), has significantly increased his stake in the bank with a fresh acquisition of ₦43.91 billion worth of shares over two days. According to a regulatory disclosure filed with the Nigerian Exchange Group (NGX) by Bili Odum, UBA’s Group Company Secretary, the share purchases took place between…
The Economic and Financial Crimes Commission (EFCC) has filed fresh criminal charges against former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, over the alleged illegal acquisition of a 753-unit housing estate in Abuja and control of billions of naira in suspicious accounts. The new charges, filed on Friday, May 30, 2025, before a High…
As President Bola Ahmed Tinubu enters the second year of his administration, the African Centre for Energy Governance and Accountability (ACEGA) has called for stronger action on energy infrastructure investment, decarbonisation policy, and oil and gas sector reforms. ACEGA’s Executive Director, Dr. Usman Bello Idris, praised Tinubu’s political will and reformist drive in the sector…
The Nigeria Customs Service (NCS) is set to implement a profiling operation on fuel stations located along border areas to crack down on the smuggling of Premium Motor Spirit (PMS), commonly known as petrol. This initiative was announced by Comptroller-General Adewale Adeniyi at the Federal Operations Unit Zone A in Ikeja, following the successful seizure…
The Attorney General of the Federation (AGF) and Minister of Justice, Prince Lateef Fagbemi (SAN), has corrected widespread media reports, stating that the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC) recovered $105.9 million—not $967.5 billion—in 2024. The AGF made the clarification in a personally signed statement released on Friday,…
Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), has been awarded Central Bank Governor of the Year at the 2025 African Banker Awards, held in Abidjan, Côte d’Ivoire. The prestigious award, presented during a gala event on Wednesday, was conferred by African Banker magazine in recognition of Cardoso’s “bold and strategic” reforms that…
