• BREAKING

    CBN Governor, Olayemi Cardoso, has directed that all recruitment processes at the Central Bank of Nigeria be conducted online to promote merit, transparency, and accountability.

    The move aims to ensure fairness and restore public confidence in the CBN’s hiring process.

    #BreakingNews #CBN #Nigeria #Accountability
    🚨 BREAKING 🚨 CBN Governor, Olayemi Cardoso, has directed that all recruitment processes at the Central Bank of Nigeria be conducted online to promote merit, transparency, and accountability. The move aims to ensure fairness and restore public confidence in the CBN’s hiring process. #BreakingNews #CBN #Nigeria #Accountability
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  • FG Takes Over Nigerian Banks by Court Order Ahead of CBN Recapitalisation Deadline……


    Ahead of the Central Bank of Nigeria’s March 31, 2026 recapitalisation deadline, the federal government has taken full ownership of two Nigerian banks by court order as part of efforts to stabilise the financial sector. The court ruled that the shares of the banks’ former owners be forfeited to the government, giving authorities control to strengthen operations and support compliance with new capital requirements. This move comes amid broader recapitalisation efforts, where many banks are racing to meet CBN’s raised capital thresholds ahead of the deadline.
    #fintternews

    FG Takes Over Nigerian Banks by Court Order Ahead of CBN Recapitalisation Deadline…… Ahead of the Central Bank of Nigeria’s March 31, 2026 recapitalisation deadline, the federal government has taken full ownership of two Nigerian banks by court order as part of efforts to stabilise the financial sector. The court ruled that the shares of the banks’ former owners be forfeited to the government, giving authorities control to strengthen operations and support compliance with new capital requirements. This move comes amid broader recapitalisation efforts, where many banks are racing to meet CBN’s raised capital thresholds ahead of the deadline. #fintternews
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  • Emir Sanusi returns to school as 200-level Law student in Kano.

    The Emir of Kano, Muhammadu Sanusi II, has started lectures at Northwest University, Kano, after enrolling as a 200-level law student. 

    Photos shared online show the monarch in class on Tuesday, Jan. 20, with other undergraduates. 
     
    The university offered Sanusi special admission into its Bachelor of Laws (LL.B) programme in Common and Sharia Law. 
     
    According to the institution, the admission was granted in recognition of his vast experience in governance, economics and public service. 

    Sanusi, a former governor of the Central Bank of Nigeria (CBN), is already a PhD. holder.….
    #fintternews
    Emir Sanusi returns to school as 200-level Law student in Kano. The Emir of Kano, Muhammadu Sanusi II, has started lectures at Northwest University, Kano, after enrolling as a 200-level law student.  Photos shared online show the monarch in class on Tuesday, Jan. 20, with other undergraduates.    The university offered Sanusi special admission into its Bachelor of Laws (LL.B) programme in Common and Sharia Law.    According to the institution, the admission was granted in recognition of his vast experience in governance, economics and public service.  Sanusi, a former governor of the Central Bank of Nigeria (CBN), is already a PhD. holder.…. #fintternews
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  • The CBN has finally shut the window to a particular loan it has been offering to Nigerian banks for years.

    The Central Bank of Nigeria (CBN) has officially closed a long-running loan window it had made available to commercial banks for several years. The facility, which provided short-term liquidity support to financial institutions, was withdrawn as part of the apex bank’s broader reforms to tighten monetary policy and strengthen financial discipline. Analysts say the move signals the CBN’s intent to curb excess liquidity, encourage banks to rely more on market-based funding, and stabilize the financial system amid ongoing economic adjustments. Banks are now expected to adapt to the new funding environment.
    #fintternews
    The CBN has finally shut the window to a particular loan it has been offering to Nigerian banks for years. The Central Bank of Nigeria (CBN) has officially closed a long-running loan window it had made available to commercial banks for several years. The facility, which provided short-term liquidity support to financial institutions, was withdrawn as part of the apex bank’s broader reforms to tighten monetary policy and strengthen financial discipline. Analysts say the move signals the CBN’s intent to curb excess liquidity, encourage banks to rely more on market-based funding, and stabilize the financial system amid ongoing economic adjustments. Banks are now expected to adapt to the new funding environment. #fintternews
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  • EFCC Tried to Force Emefiele’s Co-Defendant to Implicate Him, Defence Witness Tells Court

    A defence witness has told a Lagos court that the EFCC attempted to coerce Henry Omoile, co-defendant of ex-CBN Governor Godwin Emefiele, to falsely implicate him in a multi-billion-dollar corruption case. Lawyer Nnamdi Offial alleged that investigators promised bail and non-prosecution if Omoile cooperated, dictated his statements, and blocked answers that did not suit their narrative. He said Omoile was detained for 21 days after refusing. Under cross-examination, Offial admitted no formal complaint was filed and that no physical abuse occurred.

    #EmefieleTrial #EFCC #NigeriaCourt

    EFCC Tried to Force Emefiele’s Co-Defendant to Implicate Him, Defence Witness Tells Court A defence witness has told a Lagos court that the EFCC attempted to coerce Henry Omoile, co-defendant of ex-CBN Governor Godwin Emefiele, to falsely implicate him in a multi-billion-dollar corruption case. Lawyer Nnamdi Offial alleged that investigators promised bail and non-prosecution if Omoile cooperated, dictated his statements, and blocked answers that did not suit their narrative. He said Omoile was detained for 21 days after refusing. Under cross-examination, Offial admitted no formal complaint was filed and that no physical abuse occurred. #EmefieleTrial #EFCC #NigeriaCourt
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  • CBN Wahala Burst! 62 Sacked Workers Tell Court: Dismiss Bank’s Motion, Restore Our Jobs

    Wahala don enter court as 62 former staff of the Central Bank of Nigeria (CBN) have asked the National Industrial Court in Abuja to throw out the bank’s application seeking to change the procedure of their suit challenging their sack. The ex-workers opposed a motion by CBN’s lawyer, Wilson Inam, SAN, who asked the court to convert their originating summons to a writ of summons, arguing that the case involved disputed facts requiring oral evidence. But the claimants’ counsel, Ola Olanipekun, SAN, insisted that the bank had not filed a counter affidavit, making its request legally defective. He told the court that until pleadings are completed, the matter cannot be converted, adding that only the workers’ processes were properly before the court. The workers are seeking to nullify their termination letters issued under a “Re-Organisation” exercise in 2024, describing the sack as unlawful and contrary to the CBN Act and internal policies. They also want reinstatement and full payment of salaries and entitlements. Justice Osatohanmwen Obaseki-Osaghae adjourned the case to February 10 for ruling.

    CBN Wahala Burst! 62 Sacked Workers Tell Court: Dismiss Bank’s Motion, Restore Our Jobs Wahala don enter court as 62 former staff of the Central Bank of Nigeria (CBN) have asked the National Industrial Court in Abuja to throw out the bank’s application seeking to change the procedure of their suit challenging their sack. The ex-workers opposed a motion by CBN’s lawyer, Wilson Inam, SAN, who asked the court to convert their originating summons to a writ of summons, arguing that the case involved disputed facts requiring oral evidence. But the claimants’ counsel, Ola Olanipekun, SAN, insisted that the bank had not filed a counter affidavit, making its request legally defective. He told the court that until pleadings are completed, the matter cannot be converted, adding that only the workers’ processes were properly before the court. The workers are seeking to nullify their termination letters issued under a “Re-Organisation” exercise in 2024, describing the sack as unlawful and contrary to the CBN Act and internal policies. They also want reinstatement and full payment of salaries and entitlements. Justice Osatohanmwen Obaseki-Osaghae adjourned the case to February 10 for ruling.
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  • Wahala Don Sup! FCCPC Targets 103 Digital Loan Apps as Registration Deadline Expires

    Wahala don really sup for Nigeria’s digital loan space! The Federal Competition and Consumer Protection Commission (FCCPC) has now set its eyes firmly on 103 digital lending apps after the January 5, 2026, registration deadline passed. These apps, operated by companies that didn’t register with the commission, are now on a strict regulatory watchlist and could face heavy fines, delisting from platforms, or even prosecution.

    In total, 521 digital lenders in Nigeria are now under FCCPC supervision. Out of these, 457 have received full approval to operate, while 35 were given conditional approval. Additionally, 29 lenders licensed by the Central Bank of Nigeria (CBN) also fall under FCCPC oversight. The commission’s move comes as part of its ongoing effort to bring order to the fast-growing digital lending market, which has often faced criticism for harassment of borrowers and unethical practices.

    The 2025 Digital Lending Regulations are at the heart of this crackdown. They require all digital lenders—whether online, app-based, or non-traditional—to register, provide clear loan disclosures, protect borrower data, charge fair interest rates, and adopt ethical recovery methods. Apps are also prohibited from pre-authorised lending or accessing borrowers’ personal data like photos, contacts, and transaction history without consent. These rules aim to ensure that consumers are protected and that lenders operate fairly.

    Industry stakeholders, however, have expressed concerns about the FCCPC’s capacity to supervise such a huge number of players. Gbemi Adelekan, president of the Money Lenders Association, noted that while the commission is engaging actively with lenders, monitoring over 500 registered lenders alongside hundreds of illegal operators could stretch resources thin. Still, early results show that borrower complaints have already started reducing since the regulations took effect, suggesting that sanity is slowly returning to the sector.

    The FCCPC’s enforcement is now official. Non-compliant apps risk fines of up to N100 million or 19% of turnover, and company directors could face up to five years of disqualification. Analysts say this crackdown could be a game-changer for Nigeria’s digital credit market, helping build consumer confidence and encouraging responsible lending.

    As the dust settles, one thing is clear: wahala don sup for these loan apps, and Nigerians are watching closely to see which apps survive the regulatory storm.

    Wahala Don Sup! FCCPC Targets 103 Digital Loan Apps as Registration Deadline Expires Wahala don really sup for Nigeria’s digital loan space! The Federal Competition and Consumer Protection Commission (FCCPC) has now set its eyes firmly on 103 digital lending apps after the January 5, 2026, registration deadline passed. These apps, operated by companies that didn’t register with the commission, are now on a strict regulatory watchlist and could face heavy fines, delisting from platforms, or even prosecution. In total, 521 digital lenders in Nigeria are now under FCCPC supervision. Out of these, 457 have received full approval to operate, while 35 were given conditional approval. Additionally, 29 lenders licensed by the Central Bank of Nigeria (CBN) also fall under FCCPC oversight. The commission’s move comes as part of its ongoing effort to bring order to the fast-growing digital lending market, which has often faced criticism for harassment of borrowers and unethical practices. The 2025 Digital Lending Regulations are at the heart of this crackdown. They require all digital lenders—whether online, app-based, or non-traditional—to register, provide clear loan disclosures, protect borrower data, charge fair interest rates, and adopt ethical recovery methods. Apps are also prohibited from pre-authorised lending or accessing borrowers’ personal data like photos, contacts, and transaction history without consent. These rules aim to ensure that consumers are protected and that lenders operate fairly. Industry stakeholders, however, have expressed concerns about the FCCPC’s capacity to supervise such a huge number of players. Gbemi Adelekan, president of the Money Lenders Association, noted that while the commission is engaging actively with lenders, monitoring over 500 registered lenders alongside hundreds of illegal operators could stretch resources thin. Still, early results show that borrower complaints have already started reducing since the regulations took effect, suggesting that sanity is slowly returning to the sector. The FCCPC’s enforcement is now official. Non-compliant apps risk fines of up to N100 million or 19% of turnover, and company directors could face up to five years of disqualification. Analysts say this crackdown could be a game-changer for Nigeria’s digital credit market, helping build consumer confidence and encouraging responsible lending. As the dust settles, one thing is clear: wahala don sup for these loan apps, and Nigerians are watching closely to see which apps survive the regulatory storm.
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  • Why AFCON 2025 Bonuses for Super Eagles Players Are Delayed: Tinubu Government Explains

    The Nigerian Government has clarified the delay in bonus payments to Super Eagles players participating in the 2025 Africa Cup of Nations (AFCON), attributing the issue to bureaucratic processes rather than negligence. Reports had suggested that the players considered boycotting their quarter-final match against Algeria due to unpaid entitlements, sparking national concern.

    Shehu Dikko, Chairman of the National Sports Commission (NSC), explained that all players were aware of the payment structure before the tournament and that funds approved for AFCON participation were being processed through the Finance Ministry, the Office of the Accountant General, and the Central Bank of Nigeria (CBN).

    Dikko noted that President Bola Tinubu had approved a special budget for AFCON as far back as November 14, 2025, but stressed that approval does not mean instant disbursement. According to him, AFCON bonuses are structured by tournament progression, not on a per-match basis, and the first phase of funds has already reached the CBN for processing.

    The NSC chairman assured that daily allowances and initial payments had been made, and the situation was being misrepresented in media reports. He emphasized that the Super Eagles were fully informed about the timing and structure of bonus payments.

    This explanation comes amid heightened public interest in player welfare and government accountability, highlighting the need for transparent and timely disbursement of funds for national sports teams representing Nigeria on the continental stage.


    Why AFCON 2025 Bonuses for Super Eagles Players Are Delayed: Tinubu Government Explains The Nigerian Government has clarified the delay in bonus payments to Super Eagles players participating in the 2025 Africa Cup of Nations (AFCON), attributing the issue to bureaucratic processes rather than negligence. Reports had suggested that the players considered boycotting their quarter-final match against Algeria due to unpaid entitlements, sparking national concern. Shehu Dikko, Chairman of the National Sports Commission (NSC), explained that all players were aware of the payment structure before the tournament and that funds approved for AFCON participation were being processed through the Finance Ministry, the Office of the Accountant General, and the Central Bank of Nigeria (CBN). Dikko noted that President Bola Tinubu had approved a special budget for AFCON as far back as November 14, 2025, but stressed that approval does not mean instant disbursement. According to him, AFCON bonuses are structured by tournament progression, not on a per-match basis, and the first phase of funds has already reached the CBN for processing. The NSC chairman assured that daily allowances and initial payments had been made, and the situation was being misrepresented in media reports. He emphasized that the Super Eagles were fully informed about the timing and structure of bonus payments. This explanation comes amid heightened public interest in player welfare and government accountability, highlighting the need for transparent and timely disbursement of funds for national sports teams representing Nigeria on the continental stage.
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  • AFCON Crisis: Will Nigerian Government Pay Super Eagles’ Bonuses Before Friday to Avert Algeria Match Boycott?

    Tension has erupted in the Nigerian camp at the ongoing 2025 Africa Cup of Nations (AFCON) after reports emerged that the Super Eagles threatened to boycott their crucial match against Algeria unless outstanding bonuses are paid by the Nigeria Football Federation (NFF). The situation has triggered urgent intervention from the Federal Government, which now says the players will receive their entitlements by Thursday or Friday at the latest.

    The crisis was first revealed by sports journalist Adepoju Tobi Samuel, who reported that the players had insisted on the full settlement of their match bonuses before travelling to Marrakech for the next fixture. The report was later corroborated by BBC journalist Olúwashínà Okeleji, who confirmed that both players and coaching staff were still awaiting payment.

    “Players and coaching staff of #Nigeria are waiting on #AFCON2025 bonus payments,” Okeleji wrote, sparking widespread concern among fans who feared that administrative lapses could derail Nigeria’s title push.

    In response to the growing backlash, the Minister of State for Finance, Dr. Doris Nkiruka Uzoka-Anite, issued a statement via her verified X account, assuring Nigerians that the matter was being resolved. According to the minister, the Federal Government, working with the Central Bank of Nigeria (CBN), had addressed the foreign exchange bottlenecks that had delayed payments to the players.

    She explained that regulatory and currency conversion hurdles had slowed the disbursement process but confirmed that a fast-track system had now been implemented. “The Federal Government and the CBN have successfully streamlined the foreign exchange processing to ensure our players are rewarded without further delay,” she stated.

    Uzoka-Anite further revealed that group-stage bonuses had already been approved and cleared, and that the final stage of payment was underway. “The final transfers to domiciliary accounts are currently in flight. Players can expect these funds to reflect starting today (Thursday) or tomorrow (Friday),” she said.

    Beyond resolving the immediate crisis, the minister also announced plans to institutionalise a faster and more transparent payment framework for future tournaments. She noted that the new system would ensure predictable and timely disbursements aligned with international best practices, preventing a repeat of the long-standing bonus disputes that have plagued Nigerian football for years.

    The controversy has reignited public debate about athlete welfare, administrative efficiency within the NFF, and the impact of off-field issues on on-field performance. Analysts warn that financial uncertainty at critical moments can distract players and undermine team morale, particularly in high-stakes knockout matches.

    Despite the tension, the government maintains that its priority is the team’s success at AFCON. “Our focus remains entirely on supporting the team’s welfare so they can maintain their incredible momentum in the knockout rounds,” Uzoka-Anite said, concluding with an optimistic message: “We move forward with one goal: Bringing the trophy home!”

    As Nigeria prepares for the decisive clash against Algeria, all eyes remain on whether the promised payments will arrive in time—and whether the crisis will be resolved without disrupting the Super Eagles’ campaign for continental glory.
    AFCON Crisis: Will Nigerian Government Pay Super Eagles’ Bonuses Before Friday to Avert Algeria Match Boycott? Tension has erupted in the Nigerian camp at the ongoing 2025 Africa Cup of Nations (AFCON) after reports emerged that the Super Eagles threatened to boycott their crucial match against Algeria unless outstanding bonuses are paid by the Nigeria Football Federation (NFF). The situation has triggered urgent intervention from the Federal Government, which now says the players will receive their entitlements by Thursday or Friday at the latest. The crisis was first revealed by sports journalist Adepoju Tobi Samuel, who reported that the players had insisted on the full settlement of their match bonuses before travelling to Marrakech for the next fixture. The report was later corroborated by BBC journalist Olúwashínà Okeleji, who confirmed that both players and coaching staff were still awaiting payment. “Players and coaching staff of #Nigeria are waiting on #AFCON2025 bonus payments,” Okeleji wrote, sparking widespread concern among fans who feared that administrative lapses could derail Nigeria’s title push. In response to the growing backlash, the Minister of State for Finance, Dr. Doris Nkiruka Uzoka-Anite, issued a statement via her verified X account, assuring Nigerians that the matter was being resolved. According to the minister, the Federal Government, working with the Central Bank of Nigeria (CBN), had addressed the foreign exchange bottlenecks that had delayed payments to the players. She explained that regulatory and currency conversion hurdles had slowed the disbursement process but confirmed that a fast-track system had now been implemented. “The Federal Government and the CBN have successfully streamlined the foreign exchange processing to ensure our players are rewarded without further delay,” she stated. Uzoka-Anite further revealed that group-stage bonuses had already been approved and cleared, and that the final stage of payment was underway. “The final transfers to domiciliary accounts are currently in flight. Players can expect these funds to reflect starting today (Thursday) or tomorrow (Friday),” she said. Beyond resolving the immediate crisis, the minister also announced plans to institutionalise a faster and more transparent payment framework for future tournaments. She noted that the new system would ensure predictable and timely disbursements aligned with international best practices, preventing a repeat of the long-standing bonus disputes that have plagued Nigerian football for years. The controversy has reignited public debate about athlete welfare, administrative efficiency within the NFF, and the impact of off-field issues on on-field performance. Analysts warn that financial uncertainty at critical moments can distract players and undermine team morale, particularly in high-stakes knockout matches. Despite the tension, the government maintains that its priority is the team’s success at AFCON. “Our focus remains entirely on supporting the team’s welfare so they can maintain their incredible momentum in the knockout rounds,” Uzoka-Anite said, concluding with an optimistic message: “We move forward with one goal: Bringing the trophy home!” As Nigeria prepares for the decisive clash against Algeria, all eyes remain on whether the promised payments will arrive in time—and whether the crisis will be resolved without disrupting the Super Eagles’ campaign for continental glory.
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  • DSS Deploys 50+ Operatives to Kuje Prison Amid Malami Bail in N8.7B Money Laundering Case

    The Department of State Services (DSS) has deployed more than 50 operatives to the Kuje Medium Security Custodial Centre (MSCC) in Abuja, following the granting of bail to former Attorney General of the Federation (AGF) Abubakar Malami. The deployment, which involved a convoy of six Toyota Hilux vans, reportedly aims to prevent Malami from evading ongoing investigations linked to terrorism financing, despite the Economic and Financial Crimes Commission (EFCC) charging him primarily with money laundering.

    Justice Emeka Nwite of the Federal High Court in Abuja granted Malami bail on Wednesday, January 8, 2026, with conditions including ₦500 million surety bonds, ownership of landed property in highbrow Abuja districts such as Asokoro, Maitama, or Gwarinpa, and deposit of travel documents with the court. Malami, his son Abdulaziz Malami, and his wife Bashir Asabe face a 16-count charge for allegedly laundering ₦8.7 billion. He was barred from leaving the country without prior court approval.

    Sources described a tense atmosphere at Kuje Prison, with DSS operatives taking strategic positions around the facility, monitoring all entries and exits, and enforcing heightened security measures. The intense deployment indicates the sensitive nature of the case and the perceived risks surrounding Malami’s custody.

    Background context reveals that Malami’s legal and financial activities have previously intersected with terrorism financing investigations under Operation Service Wide (OSW), led by retired Army General Danjuma Ali-Keffi. Launched in 2021, OSW sought to dismantle financial networks supporting Boko Haram. The operation identified alleged links between some high-profile Nigerians—including former Army Chiefs Tukur Yusuf Buratai and Faruk Yahaya, former CBN Governor Godwin Emefiele, and Malami—and suspects connected to terrorism financing.

    Ali-Keffi clarified that his revelations did not accuse Malami or others of terrorism financing but highlighted connections identified during investigations. He alleged that Malami interfered with OSW by removing a senior prosecution lawyer who refused to compromise on evidence against 48 terrorism financing suspects, potentially redirecting cases toward money laundering charges under the EFCC’s supervision.

    The DSS deployment at Kuje Prison, combined with strict bail conditions, underscores the high stakes surrounding Malami’s trial. The case exemplifies the intersection of corruption, terrorism financing, and accountability in Nigeria, with multiple agencies maintaining vigilance over proceedings involving senior political and security figures.

    DSS Deploys 50+ Operatives to Kuje Prison Amid Malami Bail in N8.7B Money Laundering Case The Department of State Services (DSS) has deployed more than 50 operatives to the Kuje Medium Security Custodial Centre (MSCC) in Abuja, following the granting of bail to former Attorney General of the Federation (AGF) Abubakar Malami. The deployment, which involved a convoy of six Toyota Hilux vans, reportedly aims to prevent Malami from evading ongoing investigations linked to terrorism financing, despite the Economic and Financial Crimes Commission (EFCC) charging him primarily with money laundering. Justice Emeka Nwite of the Federal High Court in Abuja granted Malami bail on Wednesday, January 8, 2026, with conditions including ₦500 million surety bonds, ownership of landed property in highbrow Abuja districts such as Asokoro, Maitama, or Gwarinpa, and deposit of travel documents with the court. Malami, his son Abdulaziz Malami, and his wife Bashir Asabe face a 16-count charge for allegedly laundering ₦8.7 billion. He was barred from leaving the country without prior court approval. Sources described a tense atmosphere at Kuje Prison, with DSS operatives taking strategic positions around the facility, monitoring all entries and exits, and enforcing heightened security measures. The intense deployment indicates the sensitive nature of the case and the perceived risks surrounding Malami’s custody. Background context reveals that Malami’s legal and financial activities have previously intersected with terrorism financing investigations under Operation Service Wide (OSW), led by retired Army General Danjuma Ali-Keffi. Launched in 2021, OSW sought to dismantle financial networks supporting Boko Haram. The operation identified alleged links between some high-profile Nigerians—including former Army Chiefs Tukur Yusuf Buratai and Faruk Yahaya, former CBN Governor Godwin Emefiele, and Malami—and suspects connected to terrorism financing. Ali-Keffi clarified that his revelations did not accuse Malami or others of terrorism financing but highlighted connections identified during investigations. He alleged that Malami interfered with OSW by removing a senior prosecution lawyer who refused to compromise on evidence against 48 terrorism financing suspects, potentially redirecting cases toward money laundering charges under the EFCC’s supervision. The DSS deployment at Kuje Prison, combined with strict bail conditions, underscores the high stakes surrounding Malami’s trial. The case exemplifies the intersection of corruption, terrorism financing, and accountability in Nigeria, with multiple agencies maintaining vigilance over proceedings involving senior political and security figures.
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  • DSS Deploys 50+ Operatives to Kuje Prison Amid Abubakar Malami Bail in N8.7B Money Laundering Case

    The Department of State Services (DSS) has deployed over 50 operatives to Kuje Medium Security Custodial Centre (MSCC) in Abuja, placing the prison under heavy security following the bail granted to former Attorney General of the Federation (AGF) Abubakar Malami. The move is reportedly a precautionary measure to ensure Malami does not evade investigations related to terrorism financing, despite the fact that the charges filed by the Economic and Financial Crimes Commission (EFCC) focus on money laundering.

    Malami, currently remanded at Kuje Prison, was granted bail on Wednesday, January 8, 2026, by Justice Emeka Nwite of the Federal High Court in Abuja. Bail conditions include ₦500 million surety bonds, ownership of landed property in highbrow districts such as Asokoro, Maitama, or Gwarinpa, deposit of travel documents, and an absolute ban on leaving Nigeria without prior court permission. The bail hearing was part of a 16-count charge filed against Malami, his son Abdulaziz Malami, and his wife Bashir Asabe, collectively accused of laundering ₦8.7 billion.

    Sources describe a tense atmosphere at Kuje, with DSS operatives stationed strategically, monitoring all entries and exits, using approximately six Toyota Hilux vans to maintain control over the prison perimeter. The deployment highlights the critical nature of the ongoing investigation.

    Background reports indicate that Malami’s legal and financial activities have previously intersected with broader terrorism financing investigations led by retired Nigerian Army General Danjuma Ali-Keffi under Operation Service Wide (OSW). The operation, initiated in 2021, aimed to track financial networks linked to Boko Haram and uncovered alleged links between some high-profile officials—including former Army Chiefs Tukur Yusuf Buratai and Faruk Yahaya, as well as Malami and former CBN Governor Godwin Emefiele—and suspects arrested for terrorism financing.

    Ali-Keffi clarified that he was not accusing these officials of terrorism financing but stated that investigations revealed connections between them and some suspects. He also alleged that Malami had interfered with the OSW investigation by removing a senior prosecution lawyer who had resisted compromises on cases involving 48 terrorism financing suspects.

    The DSS deployment, combined with the stringent bail conditions, reflects the high stakes and sensitivity surrounding Malami’s ongoing trial and the broader investigations into the alleged misuse of funds tied to insurgent activities.

    The unfolding situation has drawn attention to the intersection of high-level corruption, terrorism financing, and law enforcement accountability in Nigeria, signaling the continued involvement of multiple agencies in overseeing cases with national security implications.
    DSS Deploys 50+ Operatives to Kuje Prison Amid Abubakar Malami Bail in N8.7B Money Laundering Case The Department of State Services (DSS) has deployed over 50 operatives to Kuje Medium Security Custodial Centre (MSCC) in Abuja, placing the prison under heavy security following the bail granted to former Attorney General of the Federation (AGF) Abubakar Malami. The move is reportedly a precautionary measure to ensure Malami does not evade investigations related to terrorism financing, despite the fact that the charges filed by the Economic and Financial Crimes Commission (EFCC) focus on money laundering. Malami, currently remanded at Kuje Prison, was granted bail on Wednesday, January 8, 2026, by Justice Emeka Nwite of the Federal High Court in Abuja. Bail conditions include ₦500 million surety bonds, ownership of landed property in highbrow districts such as Asokoro, Maitama, or Gwarinpa, deposit of travel documents, and an absolute ban on leaving Nigeria without prior court permission. The bail hearing was part of a 16-count charge filed against Malami, his son Abdulaziz Malami, and his wife Bashir Asabe, collectively accused of laundering ₦8.7 billion. Sources describe a tense atmosphere at Kuje, with DSS operatives stationed strategically, monitoring all entries and exits, using approximately six Toyota Hilux vans to maintain control over the prison perimeter. The deployment highlights the critical nature of the ongoing investigation. Background reports indicate that Malami’s legal and financial activities have previously intersected with broader terrorism financing investigations led by retired Nigerian Army General Danjuma Ali-Keffi under Operation Service Wide (OSW). The operation, initiated in 2021, aimed to track financial networks linked to Boko Haram and uncovered alleged links between some high-profile officials—including former Army Chiefs Tukur Yusuf Buratai and Faruk Yahaya, as well as Malami and former CBN Governor Godwin Emefiele—and suspects arrested for terrorism financing. Ali-Keffi clarified that he was not accusing these officials of terrorism financing but stated that investigations revealed connections between them and some suspects. He also alleged that Malami had interfered with the OSW investigation by removing a senior prosecution lawyer who had resisted compromises on cases involving 48 terrorism financing suspects. The DSS deployment, combined with the stringent bail conditions, reflects the high stakes and sensitivity surrounding Malami’s ongoing trial and the broader investigations into the alleged misuse of funds tied to insurgent activities. The unfolding situation has drawn attention to the intersection of high-level corruption, terrorism financing, and law enforcement accountability in Nigeria, signaling the continued involvement of multiple agencies in overseeing cases with national security implications.
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  • Sokoto Court Jails Three for Spraying Naira Notes at Social Events, Orders Community Service

    Justice Ahmad Mahmud of the Federal High Court in Sokoto has sentenced Ahmad Abdullahi Buhari, Jamilu Bello, and Yasir Muhammad Bala to five years imprisonment for offences related to Naira mutilation. The trio pleaded guilty to charges under Section 21(1) of the Central Bank of Nigeria Act, 2007, for spraying Naira notes at birthday parties in Sokoto. Each convict received one-year jail terms per count, with an option to pay N100,000 fine per count. Additionally, they are required to depose to affidavits of good behaviour with the EFCC and carry out community sensitization in secondary schools against cybercrime and other fraudulent activities. The case highlights Nigeria’s strict stance against currency mutilation and misuse.

    #SokotoCourt #NairaMutilation #CBNAct #NigeriaNews #SocialEventDrama #EFCC #CommunityService #FraudAwareness #Legitng #TrendingNews
    Sokoto Court Jails Three for Spraying Naira Notes at Social Events, Orders Community Service Justice Ahmad Mahmud of the Federal High Court in Sokoto has sentenced Ahmad Abdullahi Buhari, Jamilu Bello, and Yasir Muhammad Bala to five years imprisonment for offences related to Naira mutilation. The trio pleaded guilty to charges under Section 21(1) of the Central Bank of Nigeria Act, 2007, for spraying Naira notes at birthday parties in Sokoto. Each convict received one-year jail terms per count, with an option to pay N100,000 fine per count. Additionally, they are required to depose to affidavits of good behaviour with the EFCC and carry out community sensitization in secondary schools against cybercrime and other fraudulent activities. The case highlights Nigeria’s strict stance against currency mutilation and misuse. #SokotoCourt #NairaMutilation #CBNAct #NigeriaNews #SocialEventDrama #EFCC #CommunityService #FraudAwareness #Legitng #TrendingNews
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  • Tinubu Urged to Sack Finance Minister Wale Edun Over Alleged Poor Economic Management

    President Bola Ahmed Tinubu has been called upon to immediately remove the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, over allegations of poor handling of Nigeria’s economy. The call was made by political activist Theophilus Abu Agada, who publicly criticised Edun’s performance since assuming office in 2023.
    In a social media post, Agada described Edun as a “terrible manager of the economy,” arguing that Nigeria’s economic challenges have been poorly addressed under his leadership. He claimed that the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has been shielding the finance minister through what he termed a more competent and proactive performance at the apex bank.
    Agada further accused President Tinubu of making a grave mistake by entrusting the nation’s economic management to someone he described as having “stale and outdated” knowledge of economic realities. He insisted that Edun’s continued stay in office is detrimental to Nigeria’s economic recovery and urged the president to act swiftly by relieving him of his duties.
    The statement has added to ongoing public debates and criticisms surrounding the Tinubu administration’s economic policies, reforms, and appointments, especially amid rising inflation, currency pressures, and cost-of-living concerns across the country.
    Tinubu Urged to Sack Finance Minister Wale Edun Over Alleged Poor Economic Management President Bola Ahmed Tinubu has been called upon to immediately remove the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, over allegations of poor handling of Nigeria’s economy. The call was made by political activist Theophilus Abu Agada, who publicly criticised Edun’s performance since assuming office in 2023. In a social media post, Agada described Edun as a “terrible manager of the economy,” arguing that Nigeria’s economic challenges have been poorly addressed under his leadership. He claimed that the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has been shielding the finance minister through what he termed a more competent and proactive performance at the apex bank. Agada further accused President Tinubu of making a grave mistake by entrusting the nation’s economic management to someone he described as having “stale and outdated” knowledge of economic realities. He insisted that Edun’s continued stay in office is detrimental to Nigeria’s economic recovery and urged the president to act swiftly by relieving him of his duties. The statement has added to ongoing public debates and criticisms surrounding the Tinubu administration’s economic policies, reforms, and appointments, especially amid rising inflation, currency pressures, and cost-of-living concerns across the country.
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  • Court Orders Final Forfeiture of Goodluck Jonathan Estate Lands to FG

    The Federal High Court in Abuja has permanently forfeited lands approved for the Goodluck Jonathan Legacy Model Housing Estate to the Federal Government. Judge Mohammed Umar granted the ICPC’s request on December 11, 2025, directing supervision in collaboration with the Federal Mortgage Bank of Nigeria to ensure the housing units benefit end-users. The forfeited plots include Plot 5 in Kaba District (122,015.80 m², valued at N1.94 billion) and Plot 4 (157,198.30 m², valued at N3.34 billion), suspected to be proceeds of unlawful activity. A joint ICPC-FMBN committee will oversee completion of the project. This follows similar government action on ex-CBN Governor Godwin Emefiele’s estate, with public calls for transparency and productive use of recovered assets.

    #GoodluckJonathanEstate #ICPC #AssetRecovery #FederalGovernment #NigeriaNews #HousingDevelopment #FMBN #CourtForfeiture
    Court Orders Final Forfeiture of Goodluck Jonathan Estate Lands to FG The Federal High Court in Abuja has permanently forfeited lands approved for the Goodluck Jonathan Legacy Model Housing Estate to the Federal Government. Judge Mohammed Umar granted the ICPC’s request on December 11, 2025, directing supervision in collaboration with the Federal Mortgage Bank of Nigeria to ensure the housing units benefit end-users. The forfeited plots include Plot 5 in Kaba District (122,015.80 m², valued at N1.94 billion) and Plot 4 (157,198.30 m², valued at N3.34 billion), suspected to be proceeds of unlawful activity. A joint ICPC-FMBN committee will oversee completion of the project. This follows similar government action on ex-CBN Governor Godwin Emefiele’s estate, with public calls for transparency and productive use of recovered assets. #GoodluckJonathanEstate #ICPC #AssetRecovery #FederalGovernment #NigeriaNews #HousingDevelopment #FMBN #CourtForfeiture
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  • CBN Orders Nigerian Banks to Reconfigure ATMs, POS and Online Payment Platforms to Accept Foreign Cards Nationwide

    The Central Bank of Nigeria (CBN) has directed banks and non-bank acquirers to reconfigure all ATMs, POS terminals and virtual payment platforms to accept foreign-issued cards across Nigeria. According to a circular signed by the Director of Financial Policy and Regulation, the move is aimed at improving transaction efficiency for tourists and Nigerians returning from abroad. The apex bank mandated multi-factor authentication for foreign card transactions above $200 daily, strict compliance with withdrawal limits, transparent disclosure of exchange rates and charges, and support for contactless payments on low-value transactions. Banks are also required to strengthen KYC, AML and fraud-monitoring systems, ensure merchants are paid in naira, and resolve customer complaints within approved timelines.
    CBN Orders Nigerian Banks to Reconfigure ATMs, POS and Online Payment Platforms to Accept Foreign Cards Nationwide The Central Bank of Nigeria (CBN) has directed banks and non-bank acquirers to reconfigure all ATMs, POS terminals and virtual payment platforms to accept foreign-issued cards across Nigeria. According to a circular signed by the Director of Financial Policy and Regulation, the move is aimed at improving transaction efficiency for tourists and Nigerians returning from abroad. The apex bank mandated multi-factor authentication for foreign card transactions above $200 daily, strict compliance with withdrawal limits, transparent disclosure of exchange rates and charges, and support for contactless payments on low-value transactions. Banks are also required to strengthen KYC, AML and fraud-monitoring systems, ensure merchants are paid in naira, and resolve customer complaints within approved timelines.
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  • CBN Directs Banks To Enforce Multi-Factor Authentication On Foreign Card Transactions
    The new requirement applies to all withdrawals and online transactions above $200 daily, $500 weekly, and $1,000 monthly, or their naira equivalents, the apex bank said.
    CBN Directs Banks To Enforce Multi-Factor Authentication On Foreign Card Transactions The new requirement applies to all withdrawals and online transactions above $200 daily, $500 weekly, and $1,000 monthly, or their naira equivalents, the apex bank said.
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  • CBN Revokes Licences of Aso Savings and Union Homes Over Regulatory Breaches

    The Central Bank of Nigeria (CBN) has revoked the licences of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc due to persistent regulatory violations and severe financial distress. Both institutions failed to meet minimum paid-up capital requirements, had insufficient assets to cover liabilities, and were critically undercapitalised. The banks were delisted from the Nigerian Exchange in 2024 for failing to submit audited financial statements. The CBN has advised depositors to follow updates from the Nigeria Deposit Insurance Corporation (NDIC) regarding liquidation or resolution processes.
    CBN Revokes Licences of Aso Savings and Union Homes Over Regulatory Breaches The Central Bank of Nigeria (CBN) has revoked the licences of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc due to persistent regulatory violations and severe financial distress. Both institutions failed to meet minimum paid-up capital requirements, had insufficient assets to cover liabilities, and were critically undercapitalised. The banks were delisted from the Nigerian Exchange in 2024 for failing to submit audited financial statements. The CBN has advised depositors to follow updates from the Nigeria Deposit Insurance Corporation (NDIC) regarding liquidation or resolution processes.
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  • Abuja Court Sentences Man to Six Months for Illegal Sale of Naira Notes

    A Federal High Court in Abuja has sentenced Faisal Muhammad to six months in prison for illegally selling Naira notes in violation of the Central Bank of Nigeria (CBN) Act. Muhammad was arrested in July 2025 at Abuja’s A.Y.A. area while hawking a total of N3,150,000 in N500 and N1,000 denominations. Pleading guilty to the offence, he was sentenced by Justice R. N. Ofili-Ajumogobia, who confirmed the prosecution had established its case. The court also offered an option of a N200,000 fine. The EFCC reiterated that illegal trading in Naira notes is a criminal offence that undermines the integrity of Nigeria’s currency.

    #EFCC
    #IllegalNairaTrade
    #AbujaCourt
    Abuja Court Sentences Man to Six Months for Illegal Sale of Naira Notes A Federal High Court in Abuja has sentenced Faisal Muhammad to six months in prison for illegally selling Naira notes in violation of the Central Bank of Nigeria (CBN) Act. Muhammad was arrested in July 2025 at Abuja’s A.Y.A. area while hawking a total of N3,150,000 in N500 and N1,000 denominations. Pleading guilty to the offence, he was sentenced by Justice R. N. Ofili-Ajumogobia, who confirmed the prosecution had established its case. The court also offered an option of a N200,000 fine. The EFCC reiterated that illegal trading in Naira notes is a criminal offence that undermines the integrity of Nigeria’s currency. #EFCC #IllegalNairaTrade #AbujaCourt
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  • CBN Injects $150 Million Into Banks to Stabilise Naira as Dollar Demand Surges

    The Central Bank of Nigeria (CBN) has sold $150 million to authorised dealer banks, including Access and Zenith, in a fresh bid to strengthen the naira amid renewed volatility driven by Christmas-season dollar demand. Despite improved reserves—now above $45 billion—FX inflows remain sluggish, keeping pressure on the local currency. Traders project the naira may settle around ₦1500/$ in 2025 if the CBN continues consistent interventions. Last week alone, the apex bank intervened three times with $50 million sales each round, signalling its determination to curb market instability. Rising holiday demand, higher bank FX card rates, and limited supply continue to challenge naira stability, even as analysts say sustained reserves growth offers the CBN room for ongoing support.
    CBN Injects $150 Million Into Banks to Stabilise Naira as Dollar Demand Surges The Central Bank of Nigeria (CBN) has sold $150 million to authorised dealer banks, including Access and Zenith, in a fresh bid to strengthen the naira amid renewed volatility driven by Christmas-season dollar demand. Despite improved reserves—now above $45 billion—FX inflows remain sluggish, keeping pressure on the local currency. Traders project the naira may settle around ₦1500/$ in 2025 if the CBN continues consistent interventions. Last week alone, the apex bank intervened three times with $50 million sales each round, signalling its determination to curb market instability. Rising holiday demand, higher bank FX card rates, and limited supply continue to challenge naira stability, even as analysts say sustained reserves growth offers the CBN room for ongoing support.
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  • House of Reps Summons CBN Governor Cardoso Over Alleged N16 Trillion Unremitted Funds

    The House of Representatives has summoned Central Bank of Nigeria Governor Olayemi Cardoso over allegations that the apex bank failed to remit more than ₦16 trillion in operating surplus and revenue to the government. The decision followed a motion by Public Accounts Committee Chairman Bamidele Salam, citing findings from the 2022 Auditor-General’s report, which highlighted financial irregularities linked to the Remita revenue collection system from 2015–2016. Despite disagreements among lawmakers on how to proceed, the House mandated the Public Accounts Committee to continue the investigation. Rights group SERAP had earlier demanded accountability from the CBN over missing public funds flagged in the same report.


    #CBN
    #HouseOfReps
    #PublicFunds
    House of Reps Summons CBN Governor Cardoso Over Alleged N16 Trillion Unremitted Funds The House of Representatives has summoned Central Bank of Nigeria Governor Olayemi Cardoso over allegations that the apex bank failed to remit more than ₦16 trillion in operating surplus and revenue to the government. The decision followed a motion by Public Accounts Committee Chairman Bamidele Salam, citing findings from the 2022 Auditor-General’s report, which highlighted financial irregularities linked to the Remita revenue collection system from 2015–2016. Despite disagreements among lawmakers on how to proceed, the House mandated the Public Accounts Committee to continue the investigation. Rights group SERAP had earlier demanded accountability from the CBN over missing public funds flagged in the same report. #CBN #HouseOfReps #PublicFunds
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