Author: Naija Daily News

The Central Bank of Nigeria (CBN) has issued a firm directive to banks, payment service providers, and fintech companies, emphasizing the need to enhance their sanctions compliance measures or face potential regulatory penalties. In a circular dated April 17, 2025, and signed by Ammonia Opusunju on behalf of the Director of the Compliance Department, the CBN instructed all financial institutions to rigorously observe sanctions lists at both the international and national levels. These include the United Nations Consolidated Sanctions List, the Nigerian Sanctions List—aligned with the Terrorism (Prevention and Prohibition) Act 2022—and regulations targeting the financing of terrorism. The apex…

By Deborah Nnamdi The Minister of the Federal Capital Territory, FCT, Nyesom Wike, has said he wanted the suspended Governor of Rivers State, Sim Fubara, to be outrightly removed. Wike said President Bola Tinubu saved Rivers State from crisis and anarchy by suspending Fubara and declaring a state of emergency in the state. The political crisis in Rivers State led to the proclamation of a state of emergency by President Bola Tinubu and the suspension of Governor Fubara for six months while appointing a Sole Administrator. However, Wike said the action of the president prevented calamity in Rivers State. Addressing…

By Deborah Nnamdi The Nigerians in Diaspora Commission (NiDCOM) has announced the rescue and repatriation of three more Nigerian girls who were trafficked to Ghana. According to a statement issued on Friday by Abdur-Rahman Balogun, Director of Media, Public Relations, and Protocols, the girls—Divine, Favour, and Bright, aged between 17 and 19—were deceived by their aunts with false promises of employment, only to be forced into prostitution upon arrival in Ghana. During a reception held at the NiDCOM office in Lagos on Thursday, the girls were officially received and later handed over to the National Agency for the Prohibition of…

When two people meet and fall in love, the chemistry between them grows, but when they fall apart, it is an economic/financial matter. Naija Daily News’ Deborah Nnamdi, in this article, looks at the end product when the love decipitates. Love meets luxury, the fallout of love, when the fire burns out, can be financially earth-shattering. For the world’s wealthiest, ending a marriage isn’t just emotional — it’s economic warfare. These high-profile splits have seen an eyewatering $111 billion payout, empires shaken, and headlines dominated. Here are the 10 most expensive divorces of all time, ranked by their jaw-dropping price…

By Deborah Nnamdi Google has unveiled the 2025 edition of its AI-focused startup accelerator in Africa, aimed at supporting early-stage companies with up to $350,000 in cloud credits and expert guidance, the company announced on Thursday. According to the tech giant, the program is open to seed to Series A startups that have a live product, at least one founder of African descent, and a strong focus on responsible AI practices. Chosen startups will benefit from up to $350,000 in Google Cloud credits, personalized mentorship from Google and industry leaders, access to a global investor and partner network, and hands-on…

By Deborah Nnamdi A High Court sitting in Ado Ekiti, Ekiti State, on Thursday sentenced 51-year-old Owoeye Ojo to death by hanging for armed robbery. Ojo was brought before the court on August 25, 2023, facing a four-count charge that bothered on conspiracy, attempted murder, and armed robbery. The charge reads in part: “The defendant and others at large, on May 21, 2023, at Oluwole Orungbe Street in Ado Ekiti, conspired to commit armed robbery and attempted to murder Adeyemi Funmilayo and Adesola Omolola. “Also, on May 12, 2023, at Ilokun in Ado Ekiti, the defendant and others at large…

By Deborah Nnamdi Controversial Nigerian singer, Badmus Okikiola, popularly known as Portable, has shaved off his signature coloured hair. The singer showcased his new look in a video posted on his Instagram reels and also issued a heartfelt apology to veteran Fuji musician, Saheed Osupa. He shared a photo of Osupa on his page, captioning it, “God bless you, sir. I’m sorry Baami.” This comes shortly after Portable regained his freedom from police custody in Ilorin, Kwara State, following Osupa’s decision to withdraw a legal petition against him. Earlier, Osupa had filed a complaint accusing Portable of criminal defamation, intimidation,…

By Deborah Nnamdi The Nigeria Security and Civil Defence Corps (NSCDC) has uncovered five illegal crude oil dump sites in the Jahi/Katampe area of Abuja. This was revealed in a statement issued on Thursday in Abuja by NSCDC spokesperson, Afolabi Babawale. According to the statement, seven suspects connected to the illegal production and distribution of crude oil have been arrested. The Commandant General’s Special Intelligence Squad also recovered several trucks loaded with stolen Automotive Gas Oil (AGO). Among the impounded items were a white three-compartment truck carrying 45,000 litres of AGO with an unverifiable waybill, four Mercedes-Benz short peddler trucks,…

CBEX, once the darling of online investor forums, now stands accused of misleading thousands and vanishing with millions in user funds. This investigation by Deborah Nnamdi traces the platform’s rapid rise, its suspicious unravelling, and the lingering questions left in the wake of its humpty-dumptyish collapse. In the rapidly evolving world of digital finance, few stories have stirred as much frustration and confusion as the collapse of Crypto Blockchain Exchange (CBEX). Once hailed as a promising, AI-powered crypto investment platform with global ambitions, CBEX is now a sobering reminder of what happens when hype outruns accountability. CBEX burst onto the…

File photo: Mr. Farouk Ahmed, Chief Executive Officer, NMDPRA The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has confirmed that the Kaduna Refinery project is now 81% complete. This update was shared by the Chief Executive Officer of NMDPRA, Farouk Ahmed, during an event on Tuesday. He highlighted that the project aims to reduce fuel imports and shield the economy from the volatility of global crude oil prices. “Kaduna Refinery’s overall progress is 81.1% and we have broken it down into work packages. One thing that is peculiar about Kaduna Refinery is that even if the refinery reaches 100%…