….As Forced Commercial Sex Labour Accounts For 73% Of Profits A new report from the International Labour Organization (ILO) has revealed that forced labour in the private economy generates US$236 billion in illegal profits annually. The labour organization disclosed that the report’s findings indicated that the total amount of illegal profits from forced labour had […]
The Nigerian Civil Aviation Authority (NCAA) has warned private jet owners in the country against the unauthorized use of their aircraft for commercial purposes, stressing that violators will be sanctioned. The warning was contained in a statement by the agency’s Director of Public Affairs and Consumer Protection, Michael Achimugu, and published on the NCAA’s official […]
As the transformational impact of Generative Artificial Intelligence (GenAI) technology on the cyber landscape is expected to increase the frequency, severity, and diversity of attacks with prospects for more threats to assets, Lloyd’s has urged insurance industry players on the urgent need to take proactive steps to mitigate the risks of the technology on the […]
The Nigerian National Petroleum Company Limited (NNPCL) has solicited the support of the Economic and Financial Crimes Commission (EFCC) in the current efforts of the Federal Government to combat the crude oil theft incidents nationwide in view of the destructive impacts on the nation’s economy. The Group Chief Executive Officer of NNPCL, Mele Kyari, appealed […]
Nigeria’s Senate, the upper legislative chamber, on Monday inaugurated an ad-hoc committee to investigate the Central Bank of Nigeria’s (CBN’s) Ways and Means loans to the Federal Government and the Anchor Borrowers Programme (ABP) intervention funds in the agriculture sector over the past years. In his inaugural address to the ad-hoc committee chaired by Senator […]
….First Bank Says FX Licence Suspension Issues Will Be Resolved The Bank of Ghana on Tuesday announced the suspension of the Foreign Exchange Trading Licences of Guaranty Trust Bank Ghana Limited (GTB) and FBNBank Ghana Limited (FBN) for 30 days effective from 18th March 2024 over regulatory infractions. Specifically, the apex bank linked its action […]
Following its indictment by the Nigerian government on alleged manipulation of the country’s foreign exchange market and subsequent order given to it to discontinue its services in the country, Binance, a leading cryptocurrency trading platform, has advised Nigerians trading on its exchange to withdraw all their NGN assets. Specifically, Binance disclosed that it would no […]
The Economic and Financial Crimes Commission (EFCC), has disclosed that approximately 70% of financial crimes in Nigeria are connected to banks. The chairman of the anti-graft agency, Ola Olukoyede, gave this hint during his address at the 2023 Annual Retreat and General Meeting of the Association of Chief Audit Executives of Banks in Nigeria held […]
The Federal Government has imposed a $10 billion fine on crypto trading platform, Binance, over allegations of influencing the country’s forex crisis. Mr. Bayo Onanuga, the Special Adviser on Information and Strategy to President Bola Tinubu disclosed this early Friday during an interview with the BBC. According to him, the cryptocurrency trading platform benefitted from […]
The Economic and Financial Crimes Commission (EFCC), has charged members of the Association of Local Governments of Nigeria (ALGON), to adopt innovative strategies in the current drive towards tackling corruption and improve governance at the local government level. The Executive Chairman of the anti-graft agency, Mr. Ola Olukoyede, gave the charge at a two-day national […]