Godwin Emefiele The Economic and Financial Crimes Commission will Monday, April 8, 2024, arraign the embattled former Central Bank of Nigeria Governor, Godwin Emefiele at the Ikeja State High Court in Lagos for alleged abuse of office over allocation of billions of United States dollars. Emefiele, alongside his co-defendant, one Henry Isioma Omole, will be arraigned on 26-count before Justice Rahman Oshodi. The charge, marked ID/23787c/2024, dated April 3, 2024. was filed by Mr. Rotimi Oyedepo (SAN). EFCC alleged that Emefiele committed an abuse of office between 2022 and 2023 in Lagos. The Commission alleged that Emefiele “directed to be done in abuse of the authority of your office, as the Governor, Central Bank of Nigeria, an arbitrary act, to wit: allocating foreign exchange in the aggregate sum of $2,136,391,737.33 without bids, which act is prejudicial to the rights of Nigerians.” EFCC further alleged that Emefiele, between 2020 and 2021, in Lagos, “directed to be done in abuse o...

A chopper transporting Herbert Wigwe, the CEO of Access Bank and Access Holdings, has crashed with him and about five others aboard in California, United States. Access Bank CEO: Herbert Wigwe The chopper was headed to Las Vegas when it crashed Friday night near Nipton, between Nevada and California. United States Federal Aviation Administration (FAA) in a statement confirmed all onboard are dead. FAA said no survivors had been found as of Saturday. “We were made aware of a downed aircraft at approximately 10:12 p.m., on February 10, 2024. The scene of the crash was determined to be east of the 15-Freeway, near Halloran Springs Road,” the San Bernardino County Sheriff’s Department said in a statement. The FAA identified the helicopter as a Eurocopter EC 130. The FAA and the National Transportation Safety Board are investigating the cause of the crash at the time of filing this report.

I n a significant development for the cryptocurrency industry, the Central Bank of Nigeria (CBN) has recently announced the lifting of its ban on cryptocurrency transactions in banks. This decision marks a crucial turning point, indicating a more open and progressive approach by the Nigerian regulatory authorities towards digital assets. The revocation of the ban recognizes the growing global acceptance of cryptocurrencies and the potential benefits they hold for financial inclusion, innovation, and economic growth. Back in February 2021, the CBN issued a circular that prohibited financial institutions from facilitating cryptocurrency transactions. The directive sparked widespread debate and concern among crypto enthusiasts, blockchain startups, and investors, who saw it as a setback to the development of the nascent industry in Nigeria. The ban resulted in a decline in cryptocurrency trading volumes and limited access to traditional banking services for individuals and businesses invo...

Aliko Dangote  The petition accused Dangote of grossly violating the Forex Guidelines of the CBN for years. President Bola Ahmed Tinubu has received a petition against Africa’s richest man, Alhaji Aliko Dangote over $3.4 billion allegedly siphoned through the Central Bank of Nigeria. The petition exclusively obtained by POLITICS NIGERIA was attached to a letter addressed to President Tinubu and filed by Ahmed Fahad, a social justice advocate. It was dated August 18, 2023, and titled ‘Petition To President Tinubu Against Dangote’ and copied to Jim Obazee, who was recently appointed by the President as a special investigator to probe the Central Bank of Nigeria and related entities. The petition accused Dangote of grossly violating the Forex Guidelines of the CBN for years. President Tinubu Receives Petition Against Africa’s Richest Man, Dangote Over $3.4Billion ‘Siphoned’ Through Nigeria’s Central Bank It alleged that the suspended CBN Governor Godwin Emefiele borrowed $1 billion fr...

 The central bank of Nigeria has released a circular this morning debunking the claim that it had permitted the recollection of old ₦500 and ₦1000 by commercial banks in the country. While still retaining her original plan as announced by the President (Muhammadu Buhari), only the old ₦200 note is allowed in circulation till the 10th of April, the old notes of ₦1000 and ₦500 naira respectively seize to be a legal tender and should not be collected by both individuals and banks alike.

Access bank  Youths in the Epe area of Lagos State have stormed the streets in protest of the scarcity of naira notes in the country on Friday morning. UBA Zenith Bank  First Bank  Èpè Entrance  At the Ayetoro Epe area of Lagos, the banks at that location namely First Bank, Zenith Bank, UBA, Polaris Bank and Keystone Bank, and the access bank opposite the Epe LGA, Secretariat were destroyed by the rampaging hoodlums.

NATIONAL BROADCAST BY HIS EXCELLENCY MUHAMMADU BUHARI, PRESIDENT, FEDERAL REPUBLIC OF NIGERIA ON THE CHALLENGES OF THE CURRENCY SWAP AND STATE OF THE NATION, ON 16th FEBRUARY, 2023. My Dear Compatriots,           I have found it necessary to address you today, on the state of the nation and to render account on the efforts of our administration to sustain and strengthen our economy, enhance the fight against corruption and sustain our gains in the fight against terrorism and insecurity which has, undoubtedly, been impacted by several internal and external factors. 2. Particularly, I am addressing you, as your democratically elected President, to identify with you and express my sympathy, over the difficulties being experienced as we continue the implementation of new monetary policies, aimed at boosting our economy and tightening of the loopholes associated with money laundering. 3. Let me re-assure Nigerians, that strengthening our economy, enhancing secur...

Chief of Defence Staff, General Lucky Irabor The Chief of Defence Staff, Gen Lucky Irabor is currently lobbying the Director-General of the secret police, Department of State Services (DSS) on behalf of the Governor of the Central Bank of Nigeria, Godwin Emefiele, SaharaReporters has learnt. The DSS or State Security Service (SSS) has accused the CBN governor of being involved in the financing of terrorism. It said preliminary investigation revealed various acts of terrorism financing, fraudulent activities perpetrated by Emefiele and his involvement in economic crimes of national security dimension. But a Federal High Court in Maitama, Federal Capital Territory (FCT), Abuja recently issued an order restraining the DSS from arresting, detaining or questioning Emefiele. EXCLUSIVE: How Investigation By Secret Police, DSS Linked Nigerian Central Bank Governor, Emefiele To Terrorism Financing, Economic Sabotage, Murder Jan 18, 2023 Image Emefiele Emefiele returned to the country from the U...

Guaranty Trust Bank has announced the suspension of international online and Point of Sales (PoS) transactions on naira Mastercard effective from December 31, 2022. With this development, customers of the bank are required to obtain dollar cards for international transactions. In a statement to its customers, the bank said customers would not be able to make international transactions on Automated Teller Machines (ATMs) and Point of Sales (PoS) using their naira Mastercards. “We write to inform you that you will no longer be able to use your naira Mastercards for international online and PoS transactions effective December 31, 2022. “Kindly note that you can use your GTBank dollar card for international spending requirements.” According to the bank, its dollar card allows a daily $1,000 or an equivalent in the local currency transaction, adding that there would be no withdrawal limit on “annual spend and PoS transactions” for the dollar cards. Earlier, in September, First Bank announce...

Some bank customers of various banks in the country have lamented the increasing spate of ‘illegal’ withdrawals from their accounts. Some of the customers who were victims of the act said this in an interview with the News Agency of Nigeria in Abuja on Monday. They described the act as fraudulent which the authorities must urgently address. They also alleged that most illegal deductions in banks were being done in connivance with bank staff. A customer with one of the new generation banks, Miss Helen Isiguzu, said that fraud was being perpetrated in almost all the banks unlike before, adding that it was more rampant in some banks. “What is happening in banks these days is discouraging me from depositing my money with them. “No wonder the Central Bank of Nigeria said there is so much money in the hands of Nigerians outside the banks. “People are beginning to lose hope in commercial banks. “Instead of my money to develop wings and disappear from my account just in a day, I rather invest ...