NEWS

Switzerland to transfer another $300 million Abacha loot to Nigeria – Minister

The government of Switzerland is prepared to transfer to the Nigerian government, another $300 million recovered from the family of former military ruler, Sani Abacha, foreign minister, Geoffrey Onyeama, announced Monday. The money is part of an estimated $5 billion stolen and stashed in foreign accounts by the late dictator. Nigeria has in the last 10 years received over $1 billion from the Swiss and American governments, but there are growing concerns past administrations misused the huge sum. (more…)

NEWS

CBN Stops Sales Of Forex To Bureax-De-Change

PRESS STATEMENT ON FOREIGN EXCHANGE DEPOSITS  IN COMMERCIAL BANKS AND SALES TO BDCS BY GOVERNOR GODWIN I. EMEFIELE—JANUARY 2016 1. Good afternoon ladies and gentlemen and welcome to the Central Bank of Nigeria (CBN). The Management of the Bank has called this Press Conference to give you updates on recent developments in our Foreign Exchange Market as well as the decisions we have taken to ensure that we continue to strive to attain our mandates as set out in the CBN Act of 2007. In order to do so, let me first give you a brief overview of both the global and domestic

NEWS

Why We Released Jafaru Isa – EFCC

Press statement from EFCC The attention of the Economic and Financial Crimes Commission, EFCC, has been drawn to a statement by the National Legal Adviser of the People’s Democratic Party, PDP, Mr. Victor Kwon, alleging compromise and political witch hunts in the release of a chieftain of the All Progressive Congress, APC, Brigadier-General Jafaru Isa, (retd) by the EFCC. (more…)