The Economic and Financial Crimes Commission (EFCC) has frozen over 300 accounts linked to illicit foreign exchange (FX) trading.
Speaking in Abuja on Tuesday, Ola Olukoyede, EFCC’s chairman, said the agency secured a court order to freeze the accounts.
“We got an order to freeze those accounts imagine what would have happened if we didn’t seize those accounts,” he said.
“There are people in this country doing worse than Binance,” he said.
Olukoyede said over $15 billion passed through one of the platforms in the last year, which was not regulated by financial regulators.
The development comes a day after Kenya’s police service reportedly arrested Nadeem Anjarwalla, the Binance regional manager for Africa.
On March 22, Anjarwalla escaped from an Abuja guest house where he and Tigran Gambaryan, his colleague, had been kept by the federal government.
Anjarwalla was said to have escaped after guards led him to a nearby mosque for prayers during the Ramadan fast.
Anjarwalla and Gambaryan were charged with tax evasion and money laundering by the federal government. The duo were arrested and detained on February 28.
On February 27, 2024, Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), said $26 billion passed through Binance Nigeria from unidentified sources in one year.
Cardoso said the apex bank was collaborating with different agencies, including the EFCC, the police, and the office of the national security adviser (NSA) to tackle illicit financial flows in the country.
The Chairman of EFCC, Ola Olukoyede has said the embattled former governor of Kogi, Yahaya Bello, withdrew $720,000 from the government account to a Bureau de Change to pay for his child's school fees in advance.
An airplane operated by Dana Airline has veered off the runway at the Murtala Muhammed International Airport.
The affected aircraft, a McDonald Douglas (MD-83) with registration 5N-BKI, had 83 passengers on board.
Spokesman for the airline, Mr Kingsley Ezenwa, however, said the 83 passengers and crew onboard the flight disembarked safely without injuries.
Ezenwa, in a statement, said: “Dana Air regrets to inform the public of a runway incursion involving one of our aircraft, registration number 5N BKI, which was flying from Abuja to Lagos today, 23/04/24.
“We are relieved to confirm that all 83 passengers and crew onboard the flight disembarked safely without injuries or scare as the crew handled the situation with utmost professionalism.
“We have also updated the Accident Investigation Bureau, AIB, and Nigerian Civil Aviation Authority (NCAA) on the incident, and the aircraft involved has been grounded by our maintenance team for further investigation.
“We wish to thank the airport authorities, our crew for their very swift response in ensuring the safe disembarkation of all passengers following the incident, and our sincere apologies and appreciation to the passengers on the affected flight for their patience and understanding.”
The Nigerian Electricity Regulatory Commission (NERC) has transferred oversight of the electricity market in Enugu state to the Enugu State Electricity Regulatory Commission (EERC).
In a statement on Monday, the commission said the decision complied with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the Electricity Act 2023 (Amended).
According to the statement, NERC will maintain its position as the central regulator, overseeing inter-state/international generation, transmission, supply, trading, and system operations as outlined in the Electricity Act.
“In compliance with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the Electricity Act 2023 (Amended), the Nigerian Electricity Regulatory Commission (NERC or the Commission) has issued an order to transfer regulatory oversight of the electricity market in Enugu State from the Commission to the Enugu State Electricity Regulatory Commission,” NERC said.
“With the EA, the Commission retains the role as central regulator with regulatory oversight on the inter-state/international generation, transmission, supply, trading and system operations.
“The EA also mandates any state that intends to establish and regulate intrastate electricity markets to deliver a formal notification of its processes and requests NERC to transfer regulatory authority over electricity operations in the state to the State Regulator.
“Based on this, the Government of Enugu State complied with the conditions precedent in the laws, duly notified NERC and requested for the transfer of regulatory oversight of the intrastate electricity market in Enugu State.”
NERC directed the Enugu Electricity Distribution Company (EEDC) Plc to establish a subsidiary (EEDC SubCo) to take over the duties of supplying and distributing electricity within Enugu state from EEDC.
The commission also said EEDC must complete the establishment of the subsidiary within 60 days starting from April 22, adding that the subsidiary must apply for and secure a licence for intrastate electricity supply and distribution from EERC.
NERC said all transfers envisaged by this order shall be completed by October 22.
ProjectNEXT: While the full meaning of the supermod, nlfpmod is NairaLand Front Page Mod., some people cant spell it correctly. I have been seing people mentioning nplfmod, nfplmod, npflmod etc on threads to make frontpage....
A 17-year-old Nigerian student, Oluwafemi Ositade, has secured full scholarships to multiple Ivy League universities in the United States, including Harvard, as well as other top notch universities in Canada and Qatar.
He is a member of the Class of 2023 of The Ambassadors College, Ota, and the scholarships are worth over $3.5 million.
Ositade’s astounding success stems from his exceptional performance in the SAT where he achieved a perfect score in Maths (800/800) and a near-perfect score of 760 out of 800 in reading and writing and his CGPA of 4.04/4.0 from college.
Armed with these remarkable achievements and track record of excellence, Ositade received 14 scholarships from renowned institutions nine of which are full ride scholarships (covering tuition, accommodation, allowance and all other student’s expenses).
The universities that have extended scholarship offers to Ositade are Harvard University, Brown University, Duke University, University of Toronto Lester B Pearson Scholarship, Wesleyan University, Carnegie Mellon University in Qatar, University of Miami, Howard University, Stetson University, Fisk University, University of Toronto, Mississauga Campus, University of Toronto St. George Campus, University of Toronto, Scarborough Campus and Drexel University.
His academic prowess extends beyond standardised tests. In the Unified Tertiary Matriculation Examination (UTME), with a score of 358, he ranked as the second best in Nigeria for the year 2023.
Additionally, in the 2023 West African Senior School Certificate Examination (WASSCE), Ositade boasts of eight A’s and one B2. It is also worthy of note that Ositade has represented his schools in lots of local and international competitions where he has also proven his academic prowess with many laurels won for himself and his school.
With a strong passion for Quantum Computing and Mathematics, he intends to pursue a degree in Computational Physics, and he is poised to make significant strides in his chosen field.
Ositade remarked that these feats could not have been possible without his zeal and the preparatory efforts of his alma mater, The Ambassadors College, Ota (a Christian Co-Educational School). The school’s structured academic programme, blending British and
Nigerian curricula, equipping students with the necessary skills and knowledge to excel on both local and international platforms. Offering classes and specialized courses such as SAT, IELTS, and A-levels, the school ensures that students like Ositade not only achieve stellar academic results but also position themselves for coveted scholarships in Ivy League universities.
Upon receiving the life-changing news of his acceptance to Harvard, Brown, Duke and other Prestigious universities, the 17-year-old expressed profound elation, citing that he owes his achievements to God Almighty who has been the bedrock of his success.
His achievements underscore the plethora of opportunities available for Nigerian youths to thrive on the global academic stage.
The public is hereby notified that KEHINDE EMMANUEL ADEYANJU, whose photograph appears above is wanted by the Economic and Financial Crimes Commission (EFCC) in an alleged case of Computer-Related Fraud.
Adeyanju, 30, is a native of Ekiti State, and his last known address is at B26, Victoria Crest 3, Orchid Road, Lekki Phase 2, Lagos State. Anybody with useful information as to his whereabouts should please contact the Commission in its Benin, Kaduna, Ibadan, Sokoto, Gombe, Maiduguri, Makurdi, Ilorin, Enugu, Kano, Lagos, Gombe, Port Harcourt and Abuja offices or through these numbers 09-9044751-3, 08093322644, 08183322644, 070-26350721-3, 070-6350724-5; its e-mail address: info@efcc.gov.ng or the nearest Police Station and other security agencies.
Economic and Financial Crimes Commission Dele Oyewale Head Media & Publicity
Chris Oyakhilome: Nigerian pastor pushing malaria vaccine conspiracy theories
Dressed in his signature closed-neck suit, Pastor Chris Oyakhilome stared directly into the camera, declaring that "there was never a proof that vaccines ever worked".
Everyone had been "lied to" about vaccination, he said in the sermon broadcast on his church's YouTube channel in February.
Known as "Pastor Chris", the sixty-year-old is one of Africa's best-known evangelical preachers.
The BBC has reviewed dozens of his sermons from 2023 and 2024 and found that he has been spreading anti-vaccine messages to his followers, specifically targeting the new malaria vaccine as it is being distributed in African countries.
Malaria is a huge problem in Africa. About 95% of malaria-related deaths occurred on the continent in 2022, with children under five accounting for around 80% of the deaths, according to the World Health Organization (WHO).
In the last six months, Pastor Oyakhilome's company has also produced at least five 20-minute anti-vaccine documentaries broadcast in church services or shared on his video streaming platform, evading social media companies' policies against anti-vaccine content.
The announcement last year of the rollout of a vaccine against malaria - after decades of trying - was hailed by experts as a major achievement that could save tens of thousands of lives.
According to the UN children's agency, Unicef, successful pilot vaccine campaigns since 2019 in Kenya, Ghana and Malawi caused a 13% drop in the deaths of children of eligible age.
But medical experts fear the influential pastor's far-reaching sermons might negatively affect vaccine take-up in Africa.
In August last year, he warned in a sermon of "an evil agenda that has been long in the making".
He then spread a conspiracy theory popular in the anti-vaccine community - that vaccines are a way of "depopulating the world".
He also falsely said that "malaria was never a problem to those in Africa".
"Spreading false information about vaccines, especially from influential figures like religious leaders, can contribute to the perpetuation of myths and misconceptions, further fuelling vaccine hesitancy.
"This can have devastating consequences for public health, particularly in the WHO African region where vaccine-preventable diseases occur frequently," a WHO spokesperson said.
Pastor Oyakhilome's remarks were included as one of the disinformation trends "to watch" ahead of the malaria vaccine rollout in a report released in March by the WHO-backed The Africa Infodemic Response Alliance.
We asked the pastor about his statements against vaccination through his company's and church's e-mails. We did not receive a response.
He founded the Christ Embassy church in Nigeria's main city, Lagos, in the 1990s and went on to amass hundreds of thousands of followers around the world.
In 2011, he was featured in Forbes magazine as one of Nigeria's richest pastors with an estimated net worth of $30m to $50m (£24m to £40m).
According to the magazine, the pastor's diverse business interests included newspapers, magazines, a local television station, a record label, satellite TV, hotels and extensive real estate.
His empire, named LoveWorld Inc, has since grown. It now includes a streaming service, a messaging app with over a million downloads on Google's app store and a microfinance bank.
Once a week, Pastor Oyakhilome preaches at the church's huge camp ground in Asese, along the Lagos-Ibadan Expressway.
When the BBC visited the church last November, hundreds of pastors from different nationalities filled its auditorium for an annual conference. Flags of dozens of countries were displayed inside.
His "massive online teachings and healing services" have a global attendance of "7 billion people", according to the Christ Embassy's website - this is highly unlikely given that the planet's population is estimated at eight billion.
Winnifred Ikhianosin, 25, is a regular at the church. She told the BBC she refuses to take vaccines.
"The man of God told us," she said. "And I have also done my research."
According to Ada Umenwaliri, associate director of the African Studies Centre at the US-based University of North Carolina, Pastor Oyakhilome has a "stronghold on his followers who are looking up to him".
"Pastors and religious leaders will always play a significant role in the choices their followers make," she added.
But poverty and the lack of health infrastructure in Africa could enable churches to have a greater hold over people when it came to vaccination, she said.
In an article published on the Nigerian news site, The Cable, last year, writer Julius Ogunro, who attended the pastor's church for over a decade, said: "We need to sound the alarm now. The agenda [that] Pastor Chris is pushing is potentially dangerous and has nothing to do with the Christian faith."
One name is repeated frequently by Pastor Oyakhilome: Bill Gates. The billionaire is one of the malaria vaccine's biggest backers, but has also been subject to vaccination conspiracy theories for years.
In a sermon in August 2023, the pastor broadcast a clip from a TED talk Bill Gates gave in 2010 as an example of "those who have an agenda for depopulation of the world".
While giving a talk on reducing carbon dioxide emissions, Mr Gates said: "First, we've got population. The world today has 6.8 billion people. That's headed up to about nine billion. Now, if we do a really great job on new vaccines, health care, reproductive health services, we could lower that by, perhaps, 10 or 15%."
His declaration was taken out of context by Pastor Oyakhilome. Mr Gates did not advocate for the world's depopulation.
He has clarified in the past that he saw population growth and health improvement as complementary: "When health improves, families choose to have less kids."
Mr Oyakhilome also said that the World Mosquito Program facility in Colombia belonged to the Gates Foundation, accusing it of producing genetically modified mosquitoes as a strategy for depopulation.
The mosquito factory, established to reduce the ability of mosquitoes to transmit viruses, belongs to a non-profit group of companies owned by Monash University in Australia, and it has stressed that its method do not involve the use of genetically modified organisms.
Pastor Oyakhilome is no stranger to anti-vaccine disinformation. Recently he has also targeted the human papillomavirus (HPV) vaccine, meant to protect women against cervical cancer.
"They have something else up their sleeve. It's not about cancer," he said during a service aired on 2 September 2023.
Nigeria began the mass vaccination campaign for girls in October 2023 in a bid to drastically reduce cervical cancer rates.
The disease claims the lives of over 8,000 women in Nigeria every year. In 2021, a major study funded by Cancer Research UK found the HPV vaccine was cutting cases of cervical cancer by nearly 90%.
In the past, Pastor Oyakhilome made multiple unfounded claims about anti-tetanus injections, polio vaccines, and other childhood immunisations.
The pastor also falsely stated that the messenger RNA vaccine alters the DNA.
But the vaccine does not alter people's DNA. It takes part of a virus's genetic material - or messenger RNA - to make the immune system learn to recognise it and produce antibodies.
During the Covid pandemic, Pastor Oyakhilome's church received a £125,000 ($155,000) fine from the British media regulator Ofcom.
It said his network Loveworld, broadcast in the UK, showed "misleading and potentially harmful statements about the coronavirus pandemic and vaccines".
Mr Ogunro, the writer who left the church, said he was worried about the pastor's influence.
"His claims about vaccination scare me. We need to find a way to regulate preachers like him."
“Apollo, God of sun, and the idea of light, send your rays and light the sacred torch for the hospitable city of Paris. And you, Zeus, give peace to all peoples on earth and wreath the winners of the Sacred Race."
All thanks to vigilant neighbours who alerted the police, these children were rescued by police officers from Ikotun Division after being locked up in a room for days by their grandmother. The children are now in safe hands while their grandmother is in police custody. Investigation is ongoing.
I’m looking for an extremely talented individual to do some detailed analytical macro and microeconomic research on the three-wheel (keke/tuk-tuk/rickshaw) vehicle market in Nigeria over the course of one month.
Must be able to do original/on the ground research and desktop analysis.
Consulting fee is $5-7k for the month of work.
If interested, please email a sample of your similar previous work, the sorts of specifics questions you’ll be looking to answer doing this work and a LinkedIn to hello@honeybadger.fund
Please respond by 5pm Monday 22/4/24 Nigeria time. I intend to make a decision one week thereafter.
This is an advice to POS operators, releasing money as high as #2,500,000 is dangerous, especially when they are being accompanied by armed men who could be kidnappers.
Saying it's business or whatever you call it. We had a case where the kidnappers confessed that they forced their victims to transfer ransom money to POS and later meet them and get cash. Do you say oh it's my business and I am not culpable? Avoid being held for conspiracy.
Whoever comes to you for that huge amount of money should go to the bank for cash or even do transfer. Even CBN policy forbids such huge withdrawals. Are POS operators bigger, stronger, or wiser than CBN? Even if you must release it, do a video of the so-called customers and people who accompanied him. If they have genuine intentions, they won't be afraid of being recorded on camera.
SP. Bright Edafe Public Relations Officer (PPRO) Delta State Police Command
We Will No Longer Tolerate Obstruction of Our Operations
The Economic and Financial Crimes Commission wishes to warn members of the public that it is a criminal offence to obstruct officers of the Commission from carrying out their lawful duties.
Section 38(2)(a(b) of the EFCC Establishment Act makes it an offence to prevent officers of the Commission from carrying out their lawful duties. Culprits risk a jail term of not less than five years.
This warning becomes necessary against the background of the increasing tendency by persons and groups under investigation by the Commission to take the laws into their hands by recruiting thugs to obstruct lawful operations of the EFCC.
On several occasions, operatives of the Commission have had to exercise utmost restraint in the face of such provocation to avoid a breakdown of law and order. Regrettably, such disposition is being construed as a sign of weakness.
The Commission, therefore, warns that it will henceforth not tolerate any attempt by any person or organisation to obstruct its operation as such will be met with appropriate punitive actions.
Dele Oyewale Head, Media & Publicity April 17, 2024
The CBN Governor, Yemi Cardoso, has addressed concerns regarding the decline in Nigeria's foreign reserves. He clarified that the CBN under his leadership does not have plans to depend the Naira and emphasized that Nigeria has financial obligations that must be met.
Cardoso also mentioned that $600 million entered the country yesterday.
My hubby said due 2 economic situation of tins we should only eat meat wen there is festive period dat thins cost. We hv only 1 child, do u no dat my hubby uses his money 2buy chicken 4rm chicken Republic & eat alone, l got 2no wen I was washin his clothes,he hides d payment receipts in one of his pocket.
The Central Bank of Nigeria has announced a review of the loan-to-deposit ratio (LDR) for banks, from 65 percent to 50 percent to align with the current monetary tightening.
The CBN disclosed this in a circular on Wednesday titled ‘Re: Regulatory Measures to Improve Lending to the Sector of the Nigerian Economy’, signed by Adetona Adedeji, its acting director of the banking supervision department.
PS MUSLIM UMMAH LET'S REPORT @tinukevibes_ ⚠️ We are in a generation full with cursed individuals; this ignorant Yoruba girl went to the middle of the holy land(Kaaba), Saudi Arabia dancing to a music.. did you remember one Ignorant man that went there wit @officialABAT's poster?
The special boat service (SBS) is a special operation unit of the Nigerian Navy. It was modelled after the royal Navy special boat service. It is considered to be one of the most elite naval special forces units in Africa. It was established in 2006.
The establishment of the Nigerian Navy Special Boat Service (SBS) was motivated by the imperative to address the persistent attacks on Nigeria's oil facilities by militant groups and criminal elements in the Niger Delta.
It is predominantly focused on, but not restricted to; littoral and riverine operations, including reconnaissance and surveillance; covert beach reconnaissance in advance of an amphibious assault; recovery or protection of ships and oil installations subject to hostile state or non-state action; maritime counter-terrorism; and offensive action.
The Basic Operating Course (BOC) is the foundational training program that shapes individuals into skilled SBS operatives, known for their elite capabilities. The course comprises three distinct phases, each focusing on crucial aspects of their operational readiness Operatives undergo training in range classification, handling of explosive and demolition weapons, map reading, and intelligence techniques. Upon successful completion of the BOC, operatives are bestowed with the special forces honour badge, serving as a symbol of their exceptional training and distinguishing them as elite members within the Naval personnel.
On 21 April 2020, ten SBS commandos boarded the Tommi Ritscher, a container ship captured by pirates off the shore of Benin. Benin authorities gave the SBS commandos a letter of commendation.
On 12 July 2021, 25 officers of the Nigerian Navy Special Boat Service completed a five-week Joint Combined Exchange Training (JCET) alongside a team of U.S. Army Special Forces.
They also had a joint training exercise with the 42 commando royal marines.
Keep your dollars closer! Your one thousand dollars will buy one thousand dollars worth of things whether Naira decides to go either way. And no matter the disastrous policy Tinubu’s illegitimate government decides to embark on you still have your one thousand dollars to use!
Until August 2023, Bayo Samuel worked as a product designer at a Lagos-based edtech startup. However, a failure to raise fresh funding forced the company to lay off several employees to reduce operational costs. Samuel was one of the affected workers. “It felt like my world crashed,” the 26-year-old, who had worked at the company for two years, told TechCabal.
After five months of job hunting, while living on his savings, he was hired as an analyst at an investment bank, which paid less than his previous role, where he earned ₦500,000. “The money isn’t great, so I have had to adjust my lifestyle. But it is better than being jobless.”
Samuel is one of the many Nigeria’s tech workers who are now pursuing careers in traditional industries, representing a reverse in the generational shift of young graduates who entered the tech industry due to promises of mouthwatering salaries and flexible working conditions. A major appeal of the tech industry is its low barrier to entry, unlike traditional industries that often require a level of educational qualification and skill set.
“Traditional industries offer a level of stability and structure. People want a growth plan and structured opportunities. This trend is very benefit-driven,” Chibuzo Ihentuge-Eric, a tech recruiter and human resource specialist, told TechCabal.
Nigeria’s tech industry has witnessed impressive growth in the past decade with the rise of homegrown successful startups like Paystack and Flutterwave and billions of dollars in venture capital funding. But a global tech downturn has forced investors to write fewer checks. Nigerian startups raised $398.2 million in 2023, a 66% decline compared to the previous year.
With less funding due to tough macroeconomic conditions, startups had no option but to cut costs to stay afloat. This sometimes, unfortunately, includes laying off staff. In February, Spleet, a property tech startup that raised $2.6 million in 2022 from investors, laid off an undisclosed number of employees following inflationary pressure on its business. Nigeria’s headline inflation rose to 31.70% in the same month.
Tech layoffs mean Nigeria’s tech workers are flooding an already constrained job market for a fresh start. The country’s unemployment rate is projected to cross 40% this year as the country battles an economic recession.
“People have no option; they have to take what they see. I think people now prioritise job security over job satisfaction,” said Emmanuel Faith, a people leader and talent manager.
Unlike Samuel, *Sulaimon Kehinde wasn’t laid off from his role as a senior product manager at an early-stage fintech. He resigned from the company in July 2023, citing its toxic work culture and the fear of losing his job. “I was really after job security. I wanted to switch to a more established company with processes in place,” he told TechCabal.
He had a side gig, working as a contract product manager for a retail marketplace app but later resigned to focus on his job search. In November 2023, he secured a role as a product portfolio officer at a capital markets infrastructure firm, which tripled his pay. He earned around ₦300,000 a month at his former workplace.
“The work culture is way better. The company prioritises employee well-being and offers perks such as gym subscriptions, health benefits, quarterly bonuses, and travel allowances. You’d typically get these at growth-stage startups,” Kehinde said.
The switch in career transcends beyond startups but also tech-enabled companies.
*Remi Adewunmi worked as an enterprise resource planning (ERP) administrator at a traditional bank for eight years. Though he had a “rich and eventful experience,” he left to become a partner at a real estate venture where he oversees IT services and implementation. According to him, the new role offered better remuneration and working hours.
“My experience from tech prepared me for this. The pay in my new role is much better. I earn at least 40% more than my previous annual salary,” he said.
Faith, the talent manager, believes any traditional industry that hires tech professionals is lucky: “One thing tech workers bring to the table is the fast pace of execution. This might also be a challenge, considering the nature of traditional industries. They [tech talent] may have challenges with dealing with bureaucracy and the ranks of decision-making.”
Nigerian startups lack established growth plans, which traditional industries often have in place, according to Ihentuge-Eric. To retain talent, the tech industry should work on comprehensive career development plans for employees. “When it’s known that the industry is big on developing talent, then people might consider staying,” she said.
Education / Parents Protest At Lead British School Abuja, Threaten To Withdraw Children by nlfpmod: 7:57pm