Author: Vardiafrica

The Ikeja High Court in Lagos State has ordered the remand of a former governor of the Central Bank of Nigeria (CBN) Godwin Emefiele in the custody of the Economic and Financial Crimes Commission (EFCC).  He is to be remanded till the next adjourned date, Thursday, April 11 when the court will give its ruling on bail. Justice Rahman Oshodi also ordered the remand of Emefiele’s co-defendant Henry Omoile at the Ikoyi Prison pending the court’s ruling on his bail on Thursday. The court ordered the remand of both men after listening to the bail applications filed by their counsel…

A former Central Bank of Nigeria (CBN) governor Godwin Emefiele has pleaded not guilty to charges against him. He was arraigned at the Ikeja High Court over alleged abuse of office and allocation of billions of dollars. The trial judge, Justice Rahman Oshodi entered the courtroom at 9 am to begin proceedings. The 26-count charge was read to Emefiele and his co-defendant, Henry Omoile. But both defendants pleaded not guilty to all counts. The defendants asked for bail pending the hearing and determination of the proceedings Godwin Emefiele is specifically asked the court to grant him bail on self-recognizance pending the…

The Economic and Financial Crimes Commission has arraigned Binance Holdings Limited, a cryptocurrency firm, and Tigran Gambaryan, the company’s head of financial crime compliance, over allegations of money laundering. The company and its executive were arraigned on a five-count charge before Emeka Nwite, judge of a federal high court in Abuja. On February 28, Gambaryan and Nadeem Anjarwalla, Binance’s regional manager for Africa, were detained by the Nigerian authorities. Although Anjarwalla escaped from the custody of the office of the national security adviser (ONSA), both executives, alongside Binance, were charged by the federal government for tax evasion. Gambaryan and Binance…

The Rivers State Police Command has warned feuding parties in the political crisis in the state to shun acts capable of causing a breakdown of peace. The command said it would not sit and allow any individual or group to disrupt the existing peace in the state under any guise. The command’s spokesperson, Grace Iringe-Koko, disclosed this in a statement issued in Port Harcourt, the state capital, on Sunday.. Iringe-Koko, a Superintendent of Police, said the command was aware of recent comments by politicians in the state which are capable of igniting violence and advised them to be guided. The…

The Federal Government, through the National Identity Management Commission (NIMC), will launch an upgraded national identity card with payment functionality for all types of social and financial services. The innovative card made in collaboration with the Central Bank of Nigeria (CBN) and the Nigeria Inter-bank Settlement System (NIBSS), is to be powered by AfriGO, a National domestic card scheme. The Head of Corporate Communications of NIMC, Kayode Adegoke, disclosed this in a statement on Friday. The National ID card, layered with verifiable National Identity features, is backed by the NIMC Act No. 23 of 2007, which mandates NIMC to enrol…

The Economic and Financial Crimes Commission (EFCC) has filed new criminal charges against Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN). The 26-count charge borders on accepting gratification, accepting gifts through agents, corruption, receipt of property fraudulently obtained, and conferring corrupt advantage on his associates. The charge sheet, marked ID/23787c/2024, and dated April 3, 2024, was filed by Rotimi Oyedepo, a senior advocate of Nigeria. The EFCC alleged that Emefiele was guilty of abuse of office between 2022 and 2023 in Lagos. The former CBN governor will be arraigned on Monday, April 8, before Rahman Oshodi, judge…

The Federal Government says the new electricity tariff hike will only affect a small segment of the consumers – 1.5 million. A recent hike in electricity tariff for Band A customers – people who enjoy at least 20 hours per day – had triggered conversation among Nigerians many of whom claim the country is still grappling with the effects of the removal of fuel subsidy and the ballooning inflation. But the Minister of Power Adebayo Adelabu who recently hinted about the Federal Government’s push to stop electricity subsidy said the hike won’t affect the majority of Nigerians. “From the policy…

President Bola Tinubu declared the probe into the Central Bank of Nigeria (CBN) closed and lauded Jim Obazee who was the special investigator.  Presidential spokesman Ajuri Ngelale said this in a Friday statement.President Bola Tinubu declared the probe into the Central Bank of Nigeria (CBN) closed and lauded Jim Obazee who was the special investigator. “President Bola Tinubu thanks Mr Jim Obazee, former Chief Executive Officer of the Financial Reporting Council of Nigeria (FRC), for his services as the Special Investigator of the Central Bank of Nigeria (CBN) and other related entities, upon his appointment on July 28, 2023,” the…

Zimbabwe has announced the launch of a new currency, as the country has effectively given up in its effort to salvage the Zimbabwean Dollar. The new currency which will be called ZiG is set to be introduced on April 8, 2024, with an initial exchange rate set at 13.56 per dollar. Additionally, a new interest rate of 20% has been established, contrasting sharply with the previous rate of 130% on the old Zimbabwean Dollar. It is also noted that the new currency will be backed by a diverse basket of foreign currencies, gold, and other precious metals. The move was…

Justice Abimbola Awogboro of the Federal High Court in Lagos on Friday convicted controversial cross-dresser Idris Okuneye, popularly known as Bobrisky, for abusing the Naira and fixed April 9 to Sentencing. The court fixed the date after Bobrisky pleaded guilty to a four-count charge of tampering with the N490,000 by spraying brought against him by the Economic and Financial Crimes Commission (EFCC). Earlier, the EFCC, through its counsel, Suleiman Suleiman, had withdrawn the two-count of laundering N180.7 million through his company, Bob Express. The EFCC’s Counsel however did not give any reason for the decision. Following the plea of the…