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Finance
EFCC reveals how ex-Accountant General collected N15bn bribe from oil-producing states

$899.900 cash recovered from Idris, suspended Accountant-General —EFCC witness

Posted: November 25, 2022 at 2:50 am   /   AFRICA, FEATURED STORIES, Finance, news, TRENDING

According to Hayatudeen Ahmed of the Economic and Financial Crimes Commission (EFCC), Ahmed Idris, the federation’s suspended Accountant-General, has willingly returned $899,900 in cash. The EFCC employee made this statement on Wednesday while testifying as a witness during the hearings at the Federal Capital Territory’s High Court, according. Rotimi Jacobs, counsel for the EFCC, escorted […]

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CBN Governor, Emefiele, Afreximbank President, Oramah, Others under EFCC, NFIU investigations over $300million Paid to acquire Union Bank

New Naira: EFCC, CBN begin tracking of large withdrawals

Posted: November 24, 2022 at 3:52 am   /   AFRICA, FEATURED STORIES, Finance, news, TRENDING

The Governor of the Central Bank of Nigeria, Godwin Emefiele has said that it would work with law enforcement agencies like the Economic and Financial Crimes Commission and the Independent Corrupt Practices and Other Related Offences Commission, to complicate and track large withdrawals. He said this while briefing the press after the launch the new […]

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Buhari reveals why he approved resign of Naira notes

Buhari reveals why he approved resign of Naira notes

Posted: November 23, 2022 at 12:45 pm   /   AFRICA, FEATURED STORIES, Finance, news, TRENDING

President Muhammadu Buhari on Wednesday in Abuja launched the new Naira banknotes, expressing delight that the redesigned currencies are locally produced by the Nigerian Security Printing and Minting (NSPM) PLC. Speaking at the launch of the new banknotes, which preceded the Federal Executive Council (FEC) meeting, the President explained in detail the basis for his […]

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Fears as one Pound Trades For N1000 at parallel market

Fears as one Pound Trades For N1000 at parallel market

Posted: November 7, 2022 at 2:30 am   /   AFRICA, Business, Finance, news, TRENDING

The sharp fall of the naira against the foreign currencies continues this weekend with the British Pound crossing N1000 in the parallel market. There are fears that the dollar which has also been on a steep rise in value against the naira may cross N1000 any moment from now. The current black market rate which […]

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EFCC arraigns Auditor-General over alleged N20million fraud, arrests 49 suspects

Naira redesign: EFCC targets three governors over starched cash

Posted: November 4, 2022 at 3:46 am   /   AFRICA, FEATURED STORIES, Finance, news, TRENDING

The Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa said his team is currently monitoring no fewer than three governors over their moves to launder stashed billions of naira through table payment of salaries to workers. He said raids on Bureau De Change operators will be sustained, urging Nigerians to support the […]

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INEC budgets N355bn for elections in 2023

INEC budgets N355bn for elections in 2023

Posted: November 3, 2022 at 3:34 am   /   AFRICA, Finance, news, Politics, TRENDING

The Independent National Electoral Commission has budgeted a total of N355 billion for the elections in the 2023 fiscal year. Recall that in December 2021, Professor Mahmood Yakubu, the chairman of INEC, informed the National Assembly that expected expenses for the elections in 2023 totaled N305 billion. Yakubu revealed this when he appeared before the […]

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FG’s move to redesign naira notes makes no sense – Edo Governor

FG’s move to redesign naira notes makes no sense – Edo Governor

Posted: November 3, 2022 at 3:20 am   /   AFRICA, FEATURED STORIES, Finance, news, TRENDING

The Edo State Governor, Mr. Godwin Obaseki, on Wednesday said the proposed plan by the Central Bank of Nigeria (CBN) to redesign some naira denominations has no basis in Nigeria’s economy. The CBN Governor, Godwin Emefiele, recently announced that the apex bank would redesign some selected naira notes and that the new denominations would be […]

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EFCC plans massive arrest of forex dealers over dollar crisis

EFCC plans massive arrest of forex dealers over dollar crisis

Posted: November 2, 2022 at 5:23 am   /   AFRICA, Finance, news, TRENDING

Against the backdrop of the continued free fall of the Nigerian naira, operatives of the Economic and Financial Crime Commission (EFCC) on Tuesday raided some bureaux de change in Abuja, the nation’s capital. Over 50 operators were also arrested by the anti-graft agency during the raid in Abuja and their shops were sealed. It was […]

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How CBN destroyed over N6trn banknotes under Buhari

How CBN destroyed over N6trn banknotes under Buhari

Posted: October 31, 2022 at 3:15 am   /   AFRICA, Business, FEATURED STORIES, Finance, news, TRENDING

Report claims that the Central Bank of Nigeria (CBN) may have destroyed over N6tn worth of mutilated and old banknotes under the expiring administration of President Muhammadu Buhari. According to the report published by the Punch, data obtained from the annual reports of the currency operations department of the CBN between 2016 and 2020 indicated […]

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Redesigned naira notes will come with consequences, Budget minister says

Redesigned naira notes will come with consequences, Budget minister says

Posted: October 29, 2022 at 5:54 am   /   AFRICA, FEATURED STORIES, Finance, news, TRENDING

Nigeria’s Minister of Finance, Budget and National Planning, Zainab Ahmad, has distanced herself and her ministry from the planned Naira redesign policy being championed by the Central Bank of Nigeria (CBN). The Finance Minister on Friday told the Senate Committee on Finance that the CBN did not consult her ministry on the planned Naira redesigning […]

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