News
Imo Unveils Digital Economy Agenda

Governor Hope Uzodimma of Imo State has unveiled Imo Digital Economy Agenda (IDEA) 2022 – 2026 that is anchored on six strategic pillars aimed at highlighting his plan to ensure the digitalisation of the state.
The IDEA entails having the entire communities in Imo State in the net to benefit from the digital economy.
At its unveiling in Owerri yesterday, the Commissioner for Digital Economy and e-Government, Dr. Chimezie Amadi, who stood in for the governor said the five year medium term plan was envisioned by Uzodimma through the Ministry of Digital Economy and e-Government which he heads.
A statement quoted him to have said the policy document was formulated to harness ICT potential, provide new solutions to developmental challenges and foster economic growth, competitiveness, enhance access to information and knowledge, poverty eradication and social inclusion.
The event attracted members of the Imo Tech and Business Community.
Amadi told the audience that the implementation of IDEA 2022 – 2026 would help them maximise the benefits of digital economy by laying the foundation for digitalisation of State Government institutions for enhanced productivity and quality service delivery.
He added: “It will foster strategic partnership with the tech ecosystem, facilitate broadband penetration across towns and villages to enable fast pace-based social economic growth in the state.”
The Commissioner said Imo was the first state to establish a Ministry of Digital-Economy and e-Government with the sole objective of supporting the federal government’s policy trust of diversifying the economy through the deployment of digital technology.
The Imo IDEA 2022-2026, he added was anchored on six strategic pillars – Digital literacy and Skill, Solid Infrastructure, Service Infrastructure, Advocacy, Monitoring and Evaluation, Collaboration and Partnership.
The Commissioner said the vision of the programme was to position Imo as a leading digital economy state in Nigeria with the mission to build smart cities that leverage digital technologies to drive governance, innovation and entrepreneurship while promoting value creation and prosperity for all.
He told the audience that their mandate as a Technology Opportunity People (TOP) was to develop and adopt digital technology for creating people-focused opportunities and economic prosperity.
Furthermore, the Commissioner noted that the Imo Digital Economy Agenda as proposed would also identify eight work streams indication timelines, responsibilities and expected outcomes from the six strategic pillars which constitute the key issues that must be addressed for the government to achieve a thriving digital economy in the state.
He said the expected outcome from the full implementation of the Imo Digital Economy Agenda (IDEA) 2022-2026 was to position Imo as the Digital Skills Hub in Africa.
Amadi explained: “This will position Imo as Africa’s highest supplier of market-entry and high level digital skills with sustained digital literacy and skills programmes.
“The Imo IDEA will create jobs of the future where Imo will become a leader in digital entrepreneurship development in Nigeria. Again, it will enable Imo meet the growing global demand for technological skills. Re-skilled and up-skilled youths with fourth industrial revolution skill where Imo State will be the next exporter of industry ready workforce that will drive the global digital economy.
“In addition, the IDEA will create opportunities for Imo Digital Status to solve local and global challenges as the programme will create enabling environment that will spur ground breaking innovative solutions for local and global challenges leveraging emerging technologies as well as enhance creative thinking and complex problems solving skills.
“Other expected outcomes will include but not limited to providing an enabling environment for public sector, private sector, civil societies and development partners participation in training five million Nigerians including Imo people in technology skills which will snowball into the creation of a Digital Skills Database to identify a digitally literate Nigerians and their levels of competence.”
The Commissioner added: “The Imo IDEA which has the entry skilled programme and the advanced level programme is designed to accommodate everybody irrespective of the level of literacy which is the youths, the old and young and even the children whether ICT compliant or not as it will allow and give room to learn from the grassroot to the top through a simple process of interaction.
“The programme also targets the 27 LGAs of Imo State aimed at capturing those in the rural areas, villages and communities because the greater number of the population are domiciled in those areas.
“It will also provide and organise programmes for the kids in what is called ‘catch them young’ using learning tools that will make them feel interested. The sole objective of this is meeting their needs so that by the end of the digital programme they will be useful to themselves, the economy of the State and the world at large.”
News
EFCC Bans Cash above $10,000 from Leaving Nigeria without Declaration

Ola Olukoyede, chairman of the Economic and Financial Crimes Commission (EFCC), has warned against cash transportation above $10,000 or its equivalent without declaration to the appropriate government agencies.

Ola Olukoyede, chairman, EFCC
Olukoyede gave this charge in Kano at the weekend at a joint sensitisation program organised by the Nigeria Customs Service (NCS), the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the EFCC to educate Nigerians on legal protocols for cash movement across Nigeria’s borders.
He cautioned Bureau De Change (BDC) operators and other business stakeholders across the country against illegal cash smuggling, urging individuals transporting cash exceeding $10,000 (or its equivalent) to declare it to the NCS, as failure to do so constitutes a criminal offence.
According to the anti-graft czar, despite existing laws, many travellers, whether businessmen, pilgrims, or tourists, still engage in illegal cash movements out of ignorance or deliberate attempts to evade financial regulations.
Under the theme, “Illegal Cash Movement Through Nigerian Airports: Consequences, Legal Frameworks, and EFCC’s Enforcement Role,” Olukoyede, who spoke through CE Ibrahim Shazali, Kano Zonal Director of the EFCC, underscored the severe repercussions of non-compliance with Nigeria’s financial regulations.
“Today, we will clarify the legal requirements, reporting obligations, and consequences of non-compliance”.
“The consequences of illegal cash trafficking are grave—ranging from imprisonment and hefty fines to forfeiture of assets.
“The EFCC, in collaboration with sister agencies, remains resolute in prosecuting offenders and safeguarding the integrity of Nigeria’s financial system,” he said.
“Section 3(3) of the Money Laundering (Prevention and Prohibition) Act declares cash transportation above $10,000 (or equivalent) without declaration illegal and Section 18 of the same Act mandates BDCs to report suspicious transactions to the NFIU (Nigeria Financial Intelligence Unit).
He emphasised that illicit cash movement undermines economic stability and fuels crimes such as money laundering, terrorism financing and corruption.
Olukoyede also outlined the legal frameworks governing cash movements, including the EFCC Act (2004), the Money Laundering (Prevention and Prohibition Act) 2022 and Central Bank of Nigeria guidelines.
“Nigeria, as a signatory to international anti-money laundering conventions, has established strict laws to regulate the movement of cash in and out of the country.
“The Central Bank of Nigeria (CBN) Act, Money Laundering (Prevention and Prohibition) Act 2022, and the EFCC Establishment Act provide clear guidelines on cash declarations and penalties for violations.”
The sensitisation program highlighted the inter-agency commitment to enforcing compliance.
Representatives from the NCS and ICPC reinforced the importance of adhering to anti-corruption laws and cross-border financial regulations.
Stakeholders, including BDC operators, were urged to uphold ethical practices and report suspicious activities.
The EFCC’s boss called for stakeholders’ support and collective vigilance against illicit financial flows in Nigeria.
“We urge all stakeholders to prioritise national interest over personal gain. Compliance is not optional; it is a legal and patriotic obligation. Together, we can curb illicit financial flows and promote economic security”, he said.
News
Lagos Sets the Benchmark in Renewable Energy as CADEF Launches Transformative Platform

Against the backdrop of Lagos State’s proactive efforts to reform its electricity sector, the Consumer Advocacy and Empowerment Foundation (CADEF) has launched its ‘Renew Energy Nigeria’ platform, a nationwide initiative with potential synergies for the state’s ambitious energy goals.
Professor Chiso Ndukwe-Okafor, CADEF’s Executive Director, introduced the platform in Lagos, highlighting its aim to empower Nigerians with information and access to decentralized renewable energy (DER) solutions. “The launch of this platform marks a significant step towards democratizing access to information and resources within Nigeria’s burgeoning sustainable energy sector.”
The platform’s launch comes as Lagos State, under the Lagos State Electricity Law, is actively establishing a regulatory framework and attracting private sector investment. Kamaldeen Abiodun-Balogun, General Manager of the LSEB, detailed the state’s progress in creating a functional electricity market, ensuring payment security, and addressing infrastructure challenges. “This law enabled us to create policy documents and establish regulatory agencies to initiate the implementation of the Lagos electricity market,” he explained, adding that private sector involvement will be key in areas where existing Discos face performance issues.
Segun Adaju, a private sector player deeply engaged in the energy sector, lauded Lagos State’s leadership. “In all these, Lagos State is always setting the pace. Many of us in the private sector players like myself, we are also looking up to Lagos State to set the pace,” he said, also mentioning his work on the Centralized Renewable Energy Desk for the state government.
While acknowledging national-level challenges such as import restrictions and forex fluctuations as noted by Professor Ndukwe-Okafor: “The recent federal plan on restrictions on the importation of solar products and the fluctuation of forex rate have made clean energy solutions costly”, the focus on Lagos State’s progress suggests a promising local environment for DER adoption, potentially amplified by CADEF’s new platform.
The broader socio-economic context, as highlighted by Olumide Ajayi, “Over 40% of Nigerians do not have access to reliable electricity”, underscored the importance of initiatives like ‘Renew Energy Nigeria’ and the enabling policies being implemented in states like Lagos.
Professor Ndukwe-Okafor concluded with a powerful call to action. “This platform is not an isolated intervention. It is aligned with our ideal country’s national vision, the 30-30-30 initiative. Let us not build a solar future that only serves the wealthy. Let us democratize clean energy. Let us make it local, inclusive, and scalable.”
The launch of “Renew Energy Nigeria” marks a significant step towards a more sustainable and equitable energy future for Nigeria, driven by innovation, collaboration, and a commitment to empowering its citizens. The platform is now live and accessible to all Nigerians seeking reliable and clean energy alternatives
News
EFCC Secures Arrest Warrant for Six CBEX Promoters

A federal high court in Abuja has granted permission to the Economic and Financial Crimes Commission (EFCC) to arrest and detain six Crypto Bridge Exchange (CBEX) promoters over allegations of investment fraud to the tune of over one billion dollars.
Emeka Nwite, presiding judge, gave the order following an ex parte application moved by Fadila Yusuf, counsel to the EFCC.
In the application by the EFCC, the six suspects are Adefowora Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Avwerosuo Otorudo and Chukwuebuka Ehirim.
The commission sought an order of the court for a warrant of arrest of the defendants.
They also prayed the court for “an order remanding the defendants in the custody of the complainant/applicant pending the conclusion of investigation of the alleged offences and possible prosecution”.
Yusuf said that the defendants are at large and a warrant of arrest is required to arrest the defendants for proper investigation and prosecution of this case.
In the affidavit in support of the motion, the EFCC said preliminary investigation into the intel revealed that the defendants “using their company ST Technologies International Limited, promoted another company Crypto Bridge Exchange (CBEX) by making adverts and lured unsuspecting members of the public to invest crypto cryptocurrencies on the CBEX investment platform”.
The EFCC said the defendants promised an unrealistic return on investment of up to 100 percent.
“The victims were made to convert their digital assets into a stablecoin of USDT for onward deposit into the suspects’ crypto wallet,” Yusuf said.
“The victims were initially given full access to the platform to monitor their investment.
“Following the deposits valued at over $1 billion by the victims, the CBEX investment platform became inaccessible to them, and they could no longer withdraw from the investment made.
“The victims later discovered that the said scheme is a scam.
“During the course of investigation, it was discovered that the said ST Technologies International Limited, though registered with the Corporate Affairs Commission (CAC), it was not registered with the Securities and Exchange Commission (SEC) for investment purposes.
“It was also discovered during the investigation that the defendants had moved out of their last known address in Lagos and Ogun states.”
The anti-graft agency said obtaining a warrant of arrest was necessary in order to place the defendants on a watch list, enabling authorities to trace and apprehend the suspects to face the charges brought against them.
Nwite granted the request for a warrant of arrest and remand, adding that the order was necessary to enable the commission to apprehend the defendants and conclude its investigation.
“I have listened to the submission of the learned counsel for the applicant,” Nwite said.
“I have also gone through the affidavit evidence with exhibits thereto, along with the written address.
“I am of the view and I so hold that the application is meritorious.
“Consequently, the application is granted as prayed.”
Earlier in April, reports emerged that CBEX users could no longer withdraw their funds.
On Monday, angry investors stormed and looted the office of Smart Treasure (ST Team), an affiliate of CBEX, in Ibadan, Oyo State.
The EFCC recently confirmed receiving multiple complaints about the platform.
Dele Oyewale, the commission spokesperson, assured affected investors that efforts were underway to recover their funds.
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