EFCC Charges 11 Chinese Nationals with Cyber Fraud and Identity Theft

The Economic and Financial Crimes Commission (EFCC) on Tuesday arraigned 11 Chinese nationals before the Federal High Court in Lagos on charges of cyber fraud, identity theft, and an alleged plot to undermine Nigeria’s constitutional structure. Their appearance in court came just a day after the anti-graft agency arraigned 42 other foreign nationals—Chinese and Filipinos—on…

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Nigerian Government Greenlights N249 Billion for 14 Major Road Initiatives

The Federal Government on Tuesday approved 14 major road projects worth N249.15 billion across the country. The move aims to overhaul Nigeria’s aging road network and fast-track long-delayed projects. The announcement came after the 23rd Federal Executive Council (FEC) meeting at the Aso Rock Villa, where the Minister of Works, Dave Umahi, briefed journalists on…

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Petroleum Retail Association (PETROAN) Claims 500,000 Oil Barrels Intended for Local Refineries Are Being Stolen Daily

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has accused oil producers of diverting 500,000 barrels of crude oil daily.   The crude oil alleged to have been diverted is said to be meant for local refineries.   This is even as the group lamented that quite a number of local refineries have…

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Naira Declines Again at Official Exchange Rate, Losing N3, While Gaining Ground in Parallel Market

For the second day, the Nigerian currency, the naira slumped against the dollar at the official foreign exchange market on Tuesday, February 4, 2025. FMDQ data showed that the naira slumped to N1,498.95/$1 on Monday, February 3, down from N1,495.60/$1 2025. This represents a loss of N3.35 for the local currency. However, at the parallel…

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