Author: Opalim Lifted

Tigran Gambaryan, the former Binance executive detained in Nigeria for almost eight months in 2024, has taken a swipe at the Economic and Financial Crimes Commission (EFCC), questioning its ability to uncover large-scale financial fraud. Gambaryan was reacting to the EFCC’s claim that Nigerian banks, fintech firms and microfinance institutions enabled widespread fraud amounting to N18.7 billion by failing to conduct basic customer due diligence. In a blunt post on Friday, the former head of financial crime compliance at Binance said the anti-graft agency would struggle to spot fraud even if it was obvious. “EFCC couldn’t detect widespread fraud if…

The Economic and Financial Crimes Commission (EFCC), has accused banks, fintech firms and microfinance institutions of fuelling large-scale fraud by failing to carry out basic customer due diligence. The allegation was recently made in Abuja by Wilson Uwujaren, EFCC director of public affairs, during a media briefing on investigations into two major fraud schemes that affected more than 900,000 Nigerians. Uwujaren said EFCC findings revealed that a “new generation bank”, six fintech companies and several microfinance banks compromised standard banking procedures, allowing fraud proceeds to be converted into digital assets and moved to “safe destinations” without triggering red flags. According…

The family of late gospel singer Bunmi Akinnaanu, popularly known as Omije Ojumi, has called off her planned burial. The update was shared on Saturday by Lanre Alewilese, a close associate of the singer and a member of the burial planning committee. In the statement posted on social media, Alewilese said all burial plans had been cancelled due to unresolved issues within the family. He added that the committee regretted any inconvenience caused. “To whom it may concern: This is to inform you that all plans & arrangements for the burial of our Late Sister & Colleague; Lady Evang. Bunmi…

Arsenal welcomed the return of Riccardo Calafiori and Piero Hincapie to training ahead of Sunday’s match against Manchester United but manager Mikel Arteta flagged concerns over their opponents’ renewed intensity under Michael Carrick. United beat second-placed Manchester City 2-0 last weekend under the guidance of interim manager Carrick, extending Arsenal’s lead at the top of the table to seven points. Arteta acknowledged the challenge posed by United compared to Arsenal’s 1-0 victory in their August meeting. “Yes, with Michael coming in it’s going to bring new ideas, the intensity rises up, you could see in the Manchester derby with their…

Nigerian former Vice President, Prof. Yemi Osinbajo’s appointment is more than ceremonial. It is both symbolic and strategic, signalling a stronger African voice in reshaping how global development cooperation works. As a former Vice President of Africa’s largest economy, Osinbajo brings first-hand experience of the pressures facing developing countries from mounting debt and infrastructure deficits to climate vulnerability and the limits of aid-dependent growth models. His perspective comes at a critical moment, with more than 50 countries worldwide, many of them in Africa, struggling under severe debt distress. Speaking on the coalition’s objectives, Osinbajo stressed that development cooperation is not…

President Bola Tinubu’s investment-friendly reforms are already paying off, with global energy giant Shell pumping more than $7 billion into Nigeria’s oil and gas sector in just 18 months, according to the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari. Ojulari disclosed this on Thursday after a high-level meeting between President Tinubu and a Shell delegation led by its Global Chairman, Wael Sawan, at the Presidential Villa, Abuja. The visit marked the first time Shell’s top global leadership would meet directly with the President. According to Ojulari, Shell came primarily to express appreciation for…

Former Vice President Prof. Yemi Osinbajo has been appointed co-chair of the newly launched Future of Development Cooperation Coalition, a global initiative seeking to rethink how countries work together to finance and deliver sustainable development. The announcement was made on Tuesday at the World Economic Forum in Davos, where former Spanish foreign minister Arancha González Laya was unveiled as Osinbajo’s co-chair. González Laya is a seasoned multilateral expert, having previously served as Executive Director of the International Trade Centre, a joint agency of the World Trade Organization (WTO) and the United Nations (UN). The coalition is being launched at a…

The Federal Government says it has released N152 billion to contractors after completing a strict verification of outstanding claims, as pressure mounts over unpaid debts owed for executed projects. In a statement on Thursday, Doris Uzoka-Anite, Minister of State for Finance, said the payments followed “rigorous verification” in line with existing laws and regulations, stressing that due process was necessary to safeguard public funds. Uzoka-Anite acknowledged the financial strain contractors have endured due to delays, assuring them that the Ministry of Finance would continue to process and approve legitimate payment requests. “I wish to confirm that the Federal Ministry of…

Former Vice President Prof. Yemi Osinbajo will headline the Regal Influence Summit as top Nigerian politicians, senior government officials and leading business figures converge on Accra, Ghana, for the three-day event starting tomorrow. The summit will focus on leadership, governance and national development, providing a platform for high-level dialogue on Africa’s political and economic future. Osinbajo is expected to exchange ideas with former Senate President Dr. Bukola Saraki and former Anambra State Governor Peter Obi during key sessions. According to a statement by Kingsley Asiedu on behalf of the organisers, Krif Foundation, governors expected at the summit include Bala Mohammed…

A Qatar Airways plane recently made an emergency landing at the Murtala Muhammed International Airport (MMIA), Lagos, following technical issues while airborne. The airline, in a statement, said its flight QR 1406, operating from Lagos to Doha, “made an unplanned return to Lagos due to a technical issue that occurred in flight”. “The cockpit crew followed established procedures and landed the aircraft safely,” the company said. Also confirming the development, the Lagos State Emergency Management Agency (LASEMA) disclosed that the aircraft, which was fully laden with 248 passengers and 12 crew members, developed a technical fault while flying within Nigerian…