28 results
- 20 Apr 2017
NDIC Plans Fresh Arrest of Failed Banks’ Directors
Nigeria Deposit Insurance Corporation (NDIC) on Wednesday said the Task Force on the Implementation of the Failed Bank Act would soon begin to re-arrest for prosecution directors and officers of…
- 27 Apr 2022
Senate Outlaws Payment of Ransom to Kidnappers
The Senate on Wednesday passed a bill to make it criminal to pay ransom to kidnappers in Nigeria, saying this move is to “discourage the rising spate of kidnapping and abduction for ransom,” which it…
- 9 Apr 2025
Nigeria to Exit Grey List Soon – SEC
Nigeria may soon exit the Financial Action Task Force (FATF) grey list, Emomotimi Agama, director-general, Securities and Exchange Commission (SEC), has said. Emomotimi Agama, DG, SEC This is with…
- 19 Sept 2014
SERAP Demands Sanctions against FG over $9.3m Arms Cash
Socio-Economic Rights and Accountability Project (SERAP) has petitioned Mr. Roger Wilkins, president, the Financial Action Task Force (FATF), urging him to “urgently use your good offices and…
- 14 Jul 2024
NDIC Harps on Collaboration to Check Insider Abuses, Financial Malpractices
The Nigeria Deposit Insurance Corporation, NDIC, urged for more collaboration with enforcement agencies to tackle the menace of insider abuses and malpractices in financial institutions. Bello…
- 28 Jul 2025
FG Asks Banks to Report Individuals with N25m Monthly Transactions to FIRS
Federal government has mandated banks and financial institutions to begin reporting monthly transactions exceeding N25 million for individuals and N100 million for firms to the tax authorities. Under…
- 11 Mar 2026
Fintechs Gear up to Combat Fraud as CBN Issues Directive on Fraud Detection Solution
The Central Bank of Nigeria (CBN) has directed banks and fintechs to implement automated systems to detect suspicious transactions to strengthen anti-money laundering (AML) and financial crime…
- 2 Oct 2013
Ericsson, Broadband Commission Report Highlights Broadband Impact on People
The Broadband Commission for Digital Development, in collaboration with Ericsson has issued a report titled: “Transformational solutions for 2015 and Beyond.” The report looks at several aspects of…
- 14 Feb 2018
CBN Seeks Shell Banks Abolished In Nigeria
The Central Bank of Nigeria (CBN) has called for the abolition of shell banks in the country, saying they serve as institutions for money laundering. Shell banks are institutions that carry out…
- 23 Oct 2023
CISLAC Says Nigeria Loses $18Bn Yearly to Illicit Financial Flows
Auwal Musa Rafsanjani, executive director, Civil Society Legislative Advocacy Centre (CISLAC), on Monday, expressed grave displeasure over the endemic corruption ravaging Nigeria which has led to…
- 13 May 2014
CBN Chides Banks over Money Laundering
Dr. Sarah Alade, acting governor of the Central Bank of Nigeria (CBN), has linked banks to money laundering and other related crimes and accused them of aiding or abetting the crimes knowingly or…
- 28 Feb 2021
Nigeria’s DSO: Fresh Missteps Loom
By Dominic Omuedi Heartwarming, it was for me, to read reports of the press conference addressed on Tuesday by Alhaji Lai Mohammed, Minister of Information and Culture, on the country’s Digital…
- 12 Aug 2026
SEC Directs Operators to Subscribe to NigSac Alerts, Freeze Terrorists-Linked Funds
Securities and Exchange Commission (SEC) has issued an urgent directive requiring all capital market-regulated entities (CMREs) to immediately subscribe to Nigeria’s Sanctions (NigSac) Alerts system.…
- 22 May 2025
CBN Introduces AML to Fight Financial Terrorism, Gives Banks Deadline
Central Bank of Nigeria (CBN) has directed all financial institutions to implement real-time transaction alert systems as part of enhanced anti-money laundering (AML) compliance. The directive was…
- E-Financial17 Aug 2026
SEC Orders Capital Market Operators to Cut Banking, Business Ties with Iran, DPRK
Securities and Exchange Commission (SEC) has directed all capital market regulated entities to terminate correspondent banking relationships and restrict business dealings involving the Democratic People’s Republic of Korea (DPRK) and Iran.
- 26 Oct 2020
ICIJ Fingers Western Union, MoneyGram as Conduits to Launder Criminal Cash
International Consortium of Investigative Journalists (ICIJ) has uncovered how companies like Western Union and MoneyGram play a hidden role in laundering cash from around the globe. In May, the…
- 30 May 2014
Thefts, Others Hobble Power Sector
Thefts, infrastructure vandalisation, obsolete equipment due to either low or poor maintenance amongst other reason have combined to hobble the newly privatised power sector. These revelations were…
- 23 Oct 2017
Shock as FG Recalls Pension Boss Wanted for Fraud
Lieutenant Gen Abdulrahman Bello Dambazau, (Rtd), minister of Interior, has confirmed the reinstatement of Abdulrasheed Maina, embattled former chairman of Presidential Task Team on Pension Reforms,…
- 7 Mar 2021
How We used N9.4Bn Approved for DSO- NBC
National Broadcasting Commission (NBC) has said that it used the N9.4 billion approved by the Federal Executive Council (FEC) to settle outstanding contractual agreements in the Digital Switch Over…
- 1 Feb 2022
'Covid-419' - How Cybercriminals in Nigeria Exploited Schemes to Help People in Need
By Oludayo Tade The COVID-19 pandemic, with its lockdown and social isolation, has added to the vulnerability of many Nigerians in several ways. Aside from health risks and disruption to livelihoods,…
- 11 Dec 2019
Senate Asks CBN to Account for N20Trillion Collected as Stamp Duty
Senate has mandated its Committee on Finance to investigate the non-remittance of over N20 trillion into the Federation Account by Central Bank of Nigeria (CBN), an amount collected as stamp duties…
- 20 Mar 2022
AMMBAN Seeks Enforcement of CBN Guidelines in Tackling Abuses of Agency Banking
The Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) has called for more cohesive collaboration among stakeholders in the mobile money and agency banking sector in a bid to sanitize…
- 8 Mar 2013
Sanusi Bows Out from CBN Next Year
Mallam Sanusi Lamido Sanusi, the highly controversial, but influential governor of the Central Bank of Nigeria (CBN), has said he will stand down a governor of the bank when his current five-year…
- 13 Nov 2024
EFCC Cracks Down on Currency Racketeering: 50 Convicted
Ola Olukoyede, chairman of the Economic and Financial Crimes Commission (EFCC), says the commission has convicted over 50 persons for currency racketeering and dollarisation of the Nigerian economy…
- 21 Apr 2025
SEC Cracks Down on Influencers, Bloggers Promoting Fraudulent Investment Schemes
Securities and Exchange Commission (SEC) has issued a stern warning to social media influencers, bloggers, and celebrities, urging them to desist from promoting unregistered and fraudulent investment…
- 11 Nov 2019
FG Extends Deadline Given to NCC to Slash Data Tariff
Dr Isa Pantami, minister of Communications and Digital Economy, at the weekend, extended the deadline given to the Nigeria Communications Commission (NCC) to reduce the cost of data, and stop illegal…
- 6 Oct 2014
Pomp, Ceremony @ 5-Star Presentation of TD Mobile
Glamour and glitz were out in force at the weekend as the crème of the Nigerian society and elsewhere line lined up the red carpet for official unveiling of TD Mobile, the revolutionary scion of…
- 9 Dec 2025
How Nigerian Companies are Leading a More Responsible Digital Transformation
By Kehinde Ogundare, Country Head, Zoho Nigeria Artificial intelligence is everywhere–in polished social media posts, in the recommendations that guide our viewing habits, and in the bots that handle…