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Court Jails BDC Operator Auwal Abdulrahman for Forex Fraud

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An Abuja-based Bureau de Change (BDC) operator and Managing Director of Transvex Investment Limited, Mr Auwal Abdulrahman, has been convicted by Justice D.Z. Senchi of a Federal Capital Territory (FCT) High Court, sitting in Jabi.

The convict was sentenced to six months in prison with an option of N50,000 fine after pleading “guilty” to the one-count charge bordering on cheating and misappropriation brought against him by the Kaduna Zonal Office of the Economic and Financial Crimes Commission (EFCC).

Mr Abdulrahman was jailed on Thursday, 04 July 2019, with the court further ordering him to forfeit a two-bed room bungalow located at Amsabell Estate in Abuja to his victim as balance of his money.

It was gathered that one Mr Yasir Tijjani had petitioned the EFCC, alleging that sometime in December 2018, he entered into an agreement with Bani Mbaka Investment Company Limited to transfer the sum of N96 million to Transvex Investment Limited with the understanding that he was going to receive the equivalent sum of £200,000 within 48 hours.

However, upon receiving the Naira equivalent, the convict refused to pay either the N96 million or the pounds equivalent and all efforts to get the money back proved abortive, prompting Mr Tijjani to take the matter to the EFCC.

During his trial, the EFCC said in the charge sheet,“That you, Auwal Abdulrahman and Transvex Investment Limited, sometime in October 2018, in Abuja within the Jurisdiction of this Honourable Court, while operating a Bureau de Change business (Trading in Foreign Currency) and in such capacity entrusted with dominion over the sum of N96 million in exchange for £200,000 by one Alhaji Yasir Tijjani, misappropriated the sum of N17.629 million.”

The EFCC said the offence was contrary to Section 311 of the Penal Code Law Cap 89 Laws of Northern Nigeria 1963 and punishable under Section 312 of the same Law.

Counsel for the EFCC, Jamil Argungun, informed the court of a plea agreement entered with the commission and urged the court to accept same and convict him, accordingly.

Defence counsel, Ahmed Abdulrahman, pleaded with the court to temper justice with mercy as the convict was a first-time offender, and had many dependants.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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NURTW Crisis: Police Arraign Baruwa After ‘Coup’ Against MC Oluomo

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By Modupe Gbadeyanka

The attempt by Mr Tajudeen Baruwa to forcefully overthrow Mr Musiliu Akinsanya, otherwise known as MC Oluomo, as the chairman of the National Union of Road Transport Workers (NURTW) has landed him in trouble.

The factional chairman of the group was arrested by the police in Abuja on Monday after he led other members to the headquarters of NURTW to dislodge his opponent.

Mr Baruwa claimed that he won a case against MC Oluomo at the court, empowering him to take over the leadership of the union.

The action triggered pandemonium at the secretariat of the organisation yesterday, prompting officials of the Federal Capital Territory (FCT) Command of the Nigeria Police Force (NPF) to pick him up.

The police have arraigned him alongside the factional General Secretary, Mr Sulaiman Musa, and five others in connection with the incident.

They were charged at Magistrate Court 1, Wuse Zone 2, Abuja, by the police for disrupting public peace, though normalcy has since been restored to the area.

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Empowering Women Goes Beyond Celebrating IWD, Others—Interswitch HR

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By Modupe Gbadeyanka

The Group Chief Human Resource Officer of Interswitch, Mr Franklin Ali, has highlighted the importance of creating deliberate opportunities that support women’s professional growth.

Speaking at a virtual session organised by the company to commemorate International Women’s Day (IWD) 2026 under the theme Give to Gain, he noted that, “At Interswitch, we believe empowering women goes beyond celebrating milestones like International Women’s Day. It requires creating meaningful platforms where women can learn, share experiences, and gain the visibility needed to grow as leaders. Through initiatives like Give to Gain, we encourage our women to recognise the value they bring and confidently amplify their impact within the organisation and beyond.”

At the event, which also featured the Deputy Chief Executive of Stanbic IBTC Bank Limited, Ms Bunmi Dayo-Olagunju, the leading African technology company reaffirmed its commitment to empowering women across its workforce and fostering an inclusive workplace culture.

In her presentation, which focused on Give to Gain – Give Value, Gain Visibility, Ms Dayo-Olagunju emphasised the importance of intentional value creation and visibility in shaping professional growth for women in the workplace.

Drawing from her experience in the financial services sector, she also shared perspectives on how women can intentionally position themselves for greater impact, build influence within their organisations, and translate consistent value delivery into meaningful professional growth.

It was gathered that Interswitch distributed customised care packages to female employees across its offices. The gesture served as a token of appreciation for the resilience, dedication, and excellence demonstrated daily by women across the organisation.

Beyond the session and care packages, Interswitch continues to support women across its workforce through a range of internal policies to promote well-being and work-life balance. These include access to top-notch creche facilities, a robust maternity leave policy, and an exclusive spousal allowance initiative, all of which reinforce the company’s broader commitment to creating a supportive environment where women can thrive both professionally and personally.

This year’s International Women’s Day initiative reflects Interswitch’s recognition of the vital role women play in shaping the company’s continued growth and success. Across technology, operations, product development, finance, and leadership, women within the organisation continue to drive innovation and strengthen service delivery.

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Eight Die as Terrorists Blow up Niger Bridge

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By Modupe Gbadeyanka

A bridge connecting the Luma-Babana-Agwara communities in Niger State was destroyed by terrorists on Monday. The incident claimed the lives of eight people.

The bridge is a vital route used by residents travelling to the Babanna border market, which operates every Monday.

According to reports, the hoodlums used an improvised explosive device (IED) to bring down the facility located along Luma Road in Borgu Local Government Area of Niger State.

The Chairman of Borgu Local Government, Mr Mohammed Nasir Abdullahi, who confirmed the attack, noted that authorities were working to verify the full extent of the damage.

“There was actually an attack by the bandits, and we are trying to verify the magnitude. A bridge was actually damaged. Already, we have sent people to the area to verify things for us,” Vanguard quoted him as saying.

It also quoted a source as saying, “In the early hours today, bandits stormed Borgu local government area of the state and bombed the Lunma-Babana bridge. Apart from bombing the bridge, the bandits also detonated bombs between Rafingiwa and Babana, and another at Woro and Kaiama, forcing residents to flee the area.”

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