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EFCC Arrests 792 Suspects In Investment, Crypto Fraud Crackdown

The Economic and Financial Crimes Commission (EFCC) has announced the arrest of 792 suspects linked to investment and cryptocurrency-related fraud.

The Commission’s Chairman, Ola Olukoyede, represented by the Director of Public Affairs, Wilson Uwujaren, announced this on Thursday in Abuja during a press briefing to commemorate his second anniversary in office.

Olukoyede said the syndicate included 192 foreign nationals who were arrested alongside their Nigerian counterparts and prosecuted for cyberterrorism and cryptocurrency fraud.

“Another notable arrest and prosecution was the case of 792 investment and cryptocurrency fraud suspects apprehended in a sting operation in Lagos in December 2024. The syndicate included 192 foreigners, who have since been prosecuted for cyber-terrorism and cryptocurrency fraud and deported,” he stated.

He stressed that the development sends a strong message that Nigeria will not serve as a haven for international cybercriminals.

“This development conveys the message that Nigeria will not tolerate foreigners turning it into a safe haven for cybercrimes,” he added.

According to data released by the EFCC, the agency received 19,318 petitions, carried out 29,240 investigations, filed 10,525 cases in court, and secured 7,503 convictions between October 2023 and September 2025.

Olukoyede noted that these figures reflect the commission’s intensified focus on complex financial crimes, including cyberfraud, investment scams, and money laundering.

The EFCC chairman also revealed that the Commission secured the forfeiture of 1,502 real estate assets in two years, comprising 402 in 2023, 975 in 2024, and 125 so far in 2025.

He highlighted two major forfeited properties: 753 duplex units in Lokongoma, Abuja, and Nok University, which has since been renamed Federal University of Applied Sciences, Kachia, Kaduna State.

“The total forfeited real estate assets in two years is 1,502 properties, comprising 402 in 2023, 975 in 2024, and 125 so far this year. The recovered property includes two notable landmarks: the final forfeiture of 753 units of duplexes in Lokogoma, Abuja, and the forfeiture of Nok University, now Federal University of Applied Sciences, Kachia, Kaduna State,“ he said.

Olukoyede further disclosed that the commission recovered ₦566.3 billion and several foreign currencies within the two years.

“Under my watch, the Commission recovered ₦566,319,820,343.40, $411,566,192.32, £71,306.25, €182,877.10, CAD $5,510.00, AUD $740.00, ¥89,859.00, ₹1,300.00, CFA 8,381,375.00, AED 70.00, SAR 310,265.00, GH₵ 225.00, R 50.00 and ₩73,000.00,” he said.

He stressed that the EFCC remains committed to combating cyber-enabled crimes and recovering stolen assets to strengthen public trust and restore integrity to Nigeria’s financial system.

Over the past three years, Nigeria has witnessed a surge in investment and cryptocurrency-related fraud, with victims losing billions of naira to online trading schemes and digital asset scams.

Many of these schemes, often disguised as legitimate investment platforms, promise unrealistic returns and leverage social media to attract unsuspecting Nigerians.

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Niger Tanker Explosion: No Nigerian Should Die Trying To Live – Peter Obi

Former Labour Party presidential candidate in the 2023 general election, Peter Obi, has stated that no Nigerian should lose their life while struggling to survive.

Obi was reacting to a tanker explosion that claimed many lives in Niger State, in a post on his verified X handle on Wednesday.

Recall that At least 30 people allegedly lost their lives and around 40 sustained various degrees of injuries in the explosion that occurred Tuesday morning in Essan and Badeggi communities.

Obi said, “I just read the report of yet another mishap in Niger State yesterday, where no fewer than 30 people reportedly lost their lives and about 40 others sustained varying degrees of injury in a tragic tanker explosion that occurred along the Bida–Agaie Road in Katcha Local Government Area of the state.

“I extend my deepest condolences to the families who lost loved ones, to the affected communities, and to the government of Niger State. It is both sad and painful that poverty continues to drive our people into situations where they must dangerously risk their lives to survive. Even more heartbreaking is that tragedies like this occur almost daily across our nation.

“The loss of Nigerian lives has become so frequent that it is often met with silence and indifference from those in authority. We cannot continue this way. I appeal once again that we, the leaders, must show greater empathy, compassion, and a deep sense of responsibility.

“We must remain committed to building a nation that truly values its people—where every life is treated with dignity. These recurring tragedies should awaken us to our collective responsibility to build a Nigeria where no one has to die simply trying to live.

“May the souls of all who lost their lives rest in peace, and may their families find comfort and strength,” he wrote.

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Lagos Fire Service Reveals Cause Of Inferno At Alaba International Market

The Lagos State Fire and Rescue Service has identified a power surge and negligence as the causes of the fire that destroyed part of the Alaba International Market.

In a statement, the agency, however, said no casualties or injuries were recorded from the incident.

It said that it received a distress call at 7:18 p.m. reporting a fire outbreak at 155 Olojo Drive, opposite Tantalizers, Alaba International Market, in the Ojo Local Government Area of the state.

The agency further explained that upon receiving the alert, the Ojo and Ijegun-Egba fire stations were immediately deployed to the scene.

It disclosed that the incident involved multiple lock-up shops of varying sizes situated within a two-storey building occupying approximately 648 square meters, within a larger market premises spanning about five hectares.

“Preliminary investigations revealed that the fire originated from the topmost floor of the building shortly after electricity was restored, due to negligence on the part of some shop owners.

“Access to the affected areas proved challenging as most shops were closed for the day, necessitating forced entry to gain access and suppress the fire, a delay that contributed to the spread of the flames, which was, however, confined to the floor,” a statement partly read.

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Naira Rises To N1,495/$ In Parallel Market

The Naira strengthened in the parallel market yesterday, appreciating to ₦1,495 per dollar from ₦1,500 per dollar recorded on Monday.

But the Naira depreciated to N1,464.5 per dollar in the Nigerian Foreign Exchange Market (NFEM).

Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira rose to N1,464.5 per dollar from N1,464 per dollar on Monday, indicating 50 kobo depreciation for the naira.

Consequently, the margin between the parallel market and NFEM rate narrowed to N35.5 per dollar from N36 per dollar on Monday.

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BREAKING: ASUU Suspends 2-Week Warning Strike

The Academic Staff Union of Universities (ASUU) has called off the two-week warning strike it declared last week across public universities nationwide.

ASUU made the announcement on Wednesday at a press conference held at its headquarters in Abuja.

President of ASUU, Chris Piwuna, who read a prepared speech before newsmen, explained that the development followed the intervention of the Senate and some other well-meaning Nigerians.

However, he said the National Executive Council of the union resolved to give the government a one-month window to address all contending issues.

Details shortly…

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NLC Gives FG Four Week Ultimatum to Suspend ASUU Strike

The Nigeria Labour Congress has given an ultimatum to the federal government to end the ongoing strike by the Academic Staff Union of Universities.
NLC gave Tinubu’s government a four-week ultimatum to conclude negotiations with all unions representing tertiary institutions, warning of nationwide industrial action if talks fail.
NLC President Joe Ajaero, speaking during an interactive session with labour correspondents in Abuja, condemned the government’s “no-work-no-pay” policy, describing it as punitive against members of the Academic Staff Union of Universities (ASUU) who embarked on a nationwide strike.
 
“We are giving the federal government four weeks to conclude all negotiations in this sector. Talks have started with ASUU, but the issues go beyond them,” Ajaero said.
“If no resolution is reached within four weeks, the NEC will convene, and all unions in the country will mobilise to address this comprehensively. The era of threatening unions is over.”
He further stressed a principle of “No Pay, No Work,” asserting that workers should not bear the brunt of failed agreements. “Most strike actions in this country stem from the government’s failure to honour agreements,”Ajaero added.
The warning comes amid the ongoing ASUU strike, announced by its National President, Professor Chris Piwuna, citing unresolved issues including staff welfare, infrastructure, salary arrears, and the full implementation of the 2009 ASUU-FGN agreement.
Despite the government releasing N50bn for earned academic allowances and allocating N150bn in the 2025 budget for a needs assessment, ASUU deemed the measures insufficient. The union demands full implementation of the 2009 agreement, payment of withheld salaries, arrears, and cooperative deductions, as well as sustainable funding for universities.
The NLC reaffirmed its solidarity with ASUU and other tertiary education unions, calling for collective action to protect workers’ rights and ensure the continuity and quality of public tertiary education in Nigeria.
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Sanae Takaichi Makes History as First Female PM of Japan

Sanae Takaichi has made history after being elected by lawmakers as the first female prime minister of Japan.
The hardline conservative was elected on Tuesday, Oct. 21, making her the first woman in modern times to lead the county.
Takaichi, 64, the new leader of the governing Liberal Democratic Party (LDP), was elected by lawmakers in the lower house of parliament by a vote of 237-149 over her closest rival, Yoshihiko Noda, leader of the liberal opposition Constitutional Democratic Party. She was also elected by upper house lawmakers in a second vote of 125-46 after falling one vote shy of a majority in the first round.
Her election is a milestone in a country where women are severely underrepresented in government.
Takaichi enters office with a fragile coalition and facing a number of pressing challenges, including a visit next week by President Donald Trump.
A protege of assassinated former Prime Minister Shinzo Abe, Takaichi advocates a stronger military, tougher immigration policies and the revision of Japan’s pacifist constitution. She is a veteran politician who has served as minister of economic security, internal affairs and gender equality.
Earlier this month Takaichi was elected leader of the LDP, which has governed Japan almost uninterrupted since World War II, after running unsuccessfully in 2021 and 2024. Her ascension to prime minister was thrown into doubt, however, after a crucial partner, the centrist party Komeito, left the LDP coalition.
To ensure her victory, the LDP signed a deal on Monday with the Osaka-based Japan Innovation Party, or Ishin, that will pull its coalition further to the right.
Even with the alliance, Takaichi faces an uphill battle in parliament, where she falls short of a majority in both houses after the LDP suffered major losses in recent elections amid voter anger over party corruption scandals and the rising cost of living.
“She emerges from this a diminished leader from the get-go,” said Jeff Kingston, a professor of Asian studies and history at Temple University’s Japan campus.
Takaichi also faces an early test next week with the arrival of Trump, who is making his first trip to Asia since returning to office. He is expected to visit Malaysia and Japan before continuing on to South Korea, which is hosting a major summit of Asia-Pacific economies.
“She doesn’t have a whole lot of time to get ready for a slew of diplomatic activity,”Kingston said. “But I think job one is the Japanese economy.”
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Tinubu’s Presidential Pardon Can Damage Investors’ Confidence – CPPE

The Centre for the Promotion of Private Enterprise (CPPE) has warned that President Bola Tinubu’s recent presidential pardon could undermine investors’ confidence in Nigeria.

The Centre noted that a situation whereby persons convicted of economic and financial crimes benefit from the presidential pardon raises questions about policy consistency, contract sanctity, and investment security, thereby discouraging both domestic and foreign investors.

CPPE Chief Executive Officer, Dr Muda Yusuf, raised the concern in a statement on Sunday.

According to the economic think-tank, while the prerogative of mercy is a legitimate constitutional instrument, its application to serious economic and financial offences and other criminal acts demands utmost discretion, transparency, and alignment with Nigeria’s commitments to anti-corruption campaign, drug control and the sanctity of human life.

CPPE urged the Federal Government to urgently review and rationalise the list of beneficiaries of the presidential pardon.

“Reaffirm Nigeria’s zero-tolerance position on corruption, drug trafficking, illegal mining, and financial crimes; uphold institutional integrity and ensure that justice is never compromised for convenience or political expediency; and strengthen transparency and accountability in the exercise of executive clemency to safeguard public confidence and investor trust.

“Nigeria’s aspiration to build a competitive, diversified, and globally respected economy rests on the credibility of its institutions and integrity of its governance. The perception of weak sanction regimes towards economic and financial crimes is incompatible with this goal.

“To preserve investor confidence and social stability, government must demonstrate unwavering commitment to accountability, effective consequence management and the rule of law. The credibility of Nigeria’s economic reform and investment promotion drive depends largely on it,” CPPE stated.

Recall that on October 11, 2025, the Presidency released the names of 175 persons granted clemency, including illegal miners, drug traffickers and kidnappers.

Tinubu’s decision had triggered public outrage and condemnation.

Meanwhile, a statement from the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, clarified that the list of those pardoned is subject to review.

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Maths And English Remain Compulsory For O’Level Students – FG Clarifies

The Federal Government has reaffirmed that English Language and Mathematics remain mandatory for all students registering for their O’Level examinations, despite the recent changes to tertiary institution admission requirements.

In a statement issued on Sunday by the Federal Ministry of Education, the government said the new policy on streamlined admission criteria does not exempt any candidate from registering or sitting for the two core subjects.

According to the statement signed by Director of Press and Public Relations, Boriowo Folasade, the clarification became necessary following misinterpretations of the new O’Level admission framework.

The Minister of Education, Dr Maruf Tunji Alausa, explained that the reform was introduced to promote flexibility, inclusiveness, and fairness in tertiary education admissions, ensuring that capable students are not denied access because of deficiencies in subjects unrelated to their chosen courses.

“The streamlining ensures that deserving students are not denied access to higher education due to credit deficiencies in subjects that are not directly relevant to their chosen fields of study,” Alausa said.

He added that the new framework aligns with global best practices and corrects imbalances in the previous admission system by allowing institutions to admit candidates into certain programmes where credit passes in either subject are not compulsory, but all students must still register and sit for both.

The ministry stressed that the adjustment only affects admission criteria for specific programmes, not the requirement to study or take the subjects.

“All students must continue to take both subjects as part of their Senior School Certificate Examinations, as they remain vital components of a sound educational foundation,” the statement partly read.

The ministry said the policy supports the Federal Government’s broader goal of equitable access, inclusivity, and human capital development, while upholding education quality and integrity.

It also urged students, parents, and education stakeholders to rely solely on the ministry’s official communication channels and verified social media platforms for accurate updates on reforms and policies.

The ministry reaffirmed its commitment to building a credible, inclusive, and globally competitive education system anchored on integrity, excellence, and equal opportunity for all learners.

It had earlier been reported that Nigerian senior secondary school students in arts and humanities will no longer be required to present a credit in mathematics in their Senior School Certificate Examination, organised by the West African Examination Council and National Examination Council, as a condition for admission to universities and polytechnics, the Federal Ministry of Education.

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Regina Daniels vs Ned Nwoko: There Is No Perfect Husband Or Wife – Shehu Sani Says

Former Kaduna Central Senator Shehu Sani has stated that no husband or wife is perfect, emphasizing that couples grow by learning to manage each other’s imperfections.

Sani said marriages and relationships are periodically tested by those imperfections.

His remark comes amid the alleged marital crisis between Delta North Senator, Ned Nwoko and popular actress, Regina Daniels.

Regina Daniels alleged she was subjected to domestic violence, noting that she can no longer take it.

However, Sani posted on X: “There is no perfect husband.There is no perfect wife. There is no perfect couple. There is no perfect family.

“Those who learn or master the art of handling their imperfections stay longer on the matrimonial track.

“Marriage or relationships are periodically tested by those imperfections and rescued by restraint.

“Every beauty has its ugly side; we spend most of our time embracing the beautiful side, and when it rotates to the ugly side, we lose our balance, we fail to accept the fact that it’s in the package of the other soul we subscribed to.

“We think of the person we love as Angels and Saints until the wheel of time reminds us and open our eyes to those imperfections of the one we love.”

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