The Transparency Advocacy for Development Initiative (TADI) has dismissed reports alleging that the Central Bank of Nigeria (CBN) failed to remit ₦17.44 trillion in public funds, describing the claims as misleading and unsupported by audit records. In a statement jointly signed on Monday in Abuja by its Executive Director, Yomi David, and the organisation’s Public Relations officer, Adeniran Taiwo, TADI said the allegations arose from a gross misinterpretation of the 2022 Auditor-General’s Report on Non-Compliance. According to the group, the Auditor-General’s report merely raised an audit query relating to the recomputation of the CBN’s operating surplus for the 2022 financial…
Author: Abdoulaye Kay
As the world commemorates the United Nations International Anti-Corruption Day, the Civil Society Legislative Advocacy Centre (CISLAC), the Nigerian chapter of Transparency International (TI), has raised fresh alarm over the worsening impact of corruption on Nigeria’s security crisis. In a statement signed by its Executive Director and Head of TI-Nigeria, Comrade Auwal Musa Rafsanjani, the organisation said corruption remains a major driver of insecurity nationwide despite decades of massive investments in defence and internal security. Rafsanjani expressed concern that Nigeria’s prolonged battles with terrorism, banditry, kidnapping, communal violence and organised crime have been severely compounded by entrenched corruption across the…
The Central Bank of Nigeria (CBN) has issued final operating licences to 82 Bureau De Change (BDCs) operators under its revised regulatory framework, while warning the public against patronising unlicensed forex dealers. According to a statement signed by the Acting Director of Corporate Communications, Hakama Sidi-Ali, the licences took effect on November 27, 2025. The apex bank said the approvals were issued in line with the 2024 Regulatory and Supervisory Guidelines for BDC Operations in Nigeria. It also stressed that only operators published on its official website are recognised as licensed BDCs, urging Nigerians to verify the status of any…
The Civil Society Legislative Advocacy Centre (CISLAC), the Nigerian chapter of Transparency International (TI), has renewed calls for transparency and accountability in the management of defence and security funds as the world marks United Nations Anti-Corruption Day. In a statement on Tuesday, the organisation’s Executive Director and Head of TI-Nigeria, Auwal Rafsanjani, urged the Federal Government, National Assembly, security agencies and anti-corruption bodies to prioritise open governance in the security sector. CISLAC emphasised the need for full disclosure of defence procurement processes and audited expenditure records in line with global standards. It also stressed the importance of strengthened legislative oversight…
The Central Bank of Nigeria (CBN) has granted final licences to 82 Bureaux De Change (BDCs) to operate effective November 27. In a statement issued on Monday in Abuja, the Acting Director of the Corporate Communications Department, Mrs Hakama Sidi-Ali, said the exercise was carried out in line with the powers conferred on the Bank under the Banks and Other Financial Institutions Act (BOFIA) 2020. According to Sidi-Ali, the approval also reflects the enforcement of the Regulatory and Supervisory Guidelines for BDC Operations in Nigeria. “By this notice, only BDCs listed on the Bank’s website are authorised to operate from…
The Federal High Court in Abuja has rejected an application by the leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, seeking to be moved from the Sokoto Correctional Centre to a custodial facility closer to the Federal Capital Territory. Kanu, through the Legal Aid Council, had filed an ex-parte application requesting an order directing the Federal Government or the Nigerian Correctional Service (NCoS) to transfer him from Sokoto to the Kuje Custodial Centre in Abuja or the Keffi facility in Nasarawa State. In the alternative, he sought to be moved to any custody within the court’s jurisdiction—including Suleja…
Financial experts are calling on the Central Bank of Nigeria (CBN) to abolish the long-standing requirement for bank references in opening current accounts, describing the rule as outdated in an era dominated by digital verification systems. For decades, prospective current account holders in Nigeria have been required to present referees—usually existing current account holders—who attest to their credibility. The practice dates back to an analogue banking era built on handwritten forms, personal networks and limited identity-verification tools. Industry analysts argue that the system, rooted in the Banks and Other Financial Institutions Act, once served as a safeguard in a time…
The Director-General of the President Tinubu Ethical Political Ideology Movement (TEPIM), Dr. Bridget Torbua Igbauke, has called on Nigerians to shun violence and embrace peaceful coexistence. Speaking during a press conference on Friday in Abuja, Igbauke urged women at home and abroad to “speak peace into the ears of their husbands, uncles, brothers, and sons,” noting that violence affects women and children more than anyone else. She commended the Minister of Regional Development, Engr. Abubakar Momoh, for initiating peace and anti-social behaviour programmes across the six geopolitical zones, describing the initiatives as crucial to advancing President Tinubu’s Ethical Political Ideology…
A socio-cultural group, De Renaissance Patriots Foundation, has criticised the Lagos State Government over its decision to outsource the issuance of indigeneship certificates to Qista Technologies, a firm it described as “little-known” and “inactive.” The group said the move amounts to the “capture of Lagos State identity” and warned that it threatens long-standing cultural and constitutional processes for verifying lineage and community belonging. In a statement signed by its media officer, Lasisi Robert, the group said indigeneship certificates have historically been issued by local government authorities and traditional institutions, particularly the Oba of Lagos, noting that these are the lawful…
The Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Thompson Oludare-Sunday, has reaffirmed the corporation’s commitment to safeguarding depositors’ funds and strengthening financial system stability nationwide. Oludare-Sunday made the remarks on Wednesday during the NDIC Special Day at the ongoing 46th Kano International Trade Fair, organised by the Kano Chamber of Commerce, Industry, Mines and Agriculture (KACCIMA). He described the fair—held under the theme “Empowering SMEs for Sustainable Development”—as an important platform for promoting entrepreneurship, financial literacy and innovation, adding that such engagements are essential for Nigeria’s economic growth. Represented by the Deputy Director, Procurement Management Services Department,…