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Emefiele Pleads Not Guilty to Fresh 26-Count Charges

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By Adedapo Adesanya

Embattled former Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has pled not guilty to the new 26-count charges of fraud and abuse of office brought against him by the federal government.

Mr Emefiele had arrived this morning in court for his arraignment at the Ikeja High Court over alleged abuse of office and allocation of billions of Dollars.

At 9 am, the trial judge, Justice Rahman Oshodi entered the courtroom to begin proceedings.

Business Post gathered that the courtroom was sitting without lights.

The 26-count charges, which include new allegations of foreign currency infractions, were read to Mr Emefiele and his co-defendant, Mr Henry Omoile.

But both defendants pleaded not guilty to all counts.

Last week, the Economic and Financial Crimes Commission (EFCC) alleged that Mr Emefiele committed abuse of office between 2022 and 2023, in Lagos, of abuse of office.

The anti-graft watchdog alleged that Mr Emefiele “directed to be done in abuse of the authority of your office, as the Governor, Central Bank of Nigeria, an arbitrary act, to wit: allocating foreign exchange in the aggregate sum of $2,136,391,737.33 without bids, which act is prejudicial to the rights of Nigerians.”

EFCC, further alleged that the banker between 2020 and 2021, in Lagos, “directed to be done in abuse of the authority of your office, as the Governor, Central Bank of Nigeria, an arbitrary, act to wit: allocating foreign exchange in the aggregate sum of $291,945,785.59, without bids, which act is prejudicial to the rights of Nigerians.

Mr Emefiele was alleged to have, in 2021, in Lagos, “directed to be done in abuse of the authority of your office, as the Governor, Central Bank of Nigeria, an arbitrary act, to wit: special allocation of foreign exchange in the aggregate sum of $1,769,254,793.16, which act is prejudicial to the rights of Nigerians.”

In count four, the sum involved was $370,872,893.01.

Mr Emefiele’s co-defendant, Mr Omoile, was alleged to have on November 17, 2020, in Lagos, whilst acting as an agent accepted from Raja Punjab through Mr Monday Osazuwa, the total sum of $110,000, for Mr Emefiele, gifts as a reward for allocating foreign exchange by the central bank in favour of Raja Punjab’s employer.”

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Boosting User Trust and Conversion in Egypt with Reliable Registration Numbers

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virtual egyptian number

Egypt’s digital economy is expanding fast. From fintech and e-commerce to SaaS and online services, businesses are onboarding more users than ever. Yet a common bottleneck remains: verification. When potential customers can’t verify their accounts quickly and reliably, conversion drops and support costs rise. The solution many successful companies use is persistent, reusable registration numbers—virtual phone numbers that maintain long-term validation capabilities and work across multiple services.

This article explains why reliable registration numbers matter in Egypt’s market and how Egyptian businesses can use them to strengthen user trust and operational performance.

The Verification Reality in Egypt

Phone verification is a standard part of onboarding worldwide. However, in Egypt, traditional SMS verification often faces hurdles:

  • Carrier filtering and delays: SMS from generic or foreign sources may be filtered or delayed.
  • One-time limitations: Disposable SMS numbers often fail when users need to re-verify.
  • User frustration: Failed verification attempts increase drop-off rates and inflate support tickets.

In markets with high mobile adoption like Egypt, these issues have measurable impacts on growth and retention.

What Makes Persistent Registration Numbers Better

Unlike temporary SMS numbers, persistent registration numbers are stable, reusable phone numbers designed to support:

  • Repeated verification across platforms
  • Long-term association with a user or business
  • Cross-service compatibility
  • Local presence perception

They act as dedicated verification endpoints and communication channels, allowing businesses to maintain consistent contact points with users.

You can explore reliable options for these numbers at https://africavirtualnumbers.com/number-for-registration/.

Why Local Egyptian Numbers Change the Game

Using virtual numbers with Egyptian country codes enhances both trust and delivery success. When users see a number with an Egyptian prefix, it:

  • Signals relevance and proximity
  • Improves SMS delivery reliability
  • Increases user willingness to complete onboarding
  • Reduces suspicion during verification

Egypt-specific virtual numbers and their availability can be found at https://africavirtualnumbers.com/country/egypt/.

For businesses targeting Egyptian customers, this local presentation significantly improves engagement metrics.

How Egyptian Businesses Benefit

1. Higher Conversion on Onboarding

Persistent, reliable numbers reduce failed verification attempts. This directly increases the number of users who complete account setup and start using services.

For example, an Egyptian fintech platform that transitioned from temporary SMS lines to persistent registration numbers saw measurable reduction in drop-off during signup, attributed to improved delivery and reduced friction.

2. Reduced Support Load

Verification failures often convert into support cases. When numbers deliver consistently and accept re-verification, support teams spend less time on account recovery and more on value-added interactions.

3. Consistency Across Platforms

Many platforms and marketplaces enforce strict verification rules. Temporary SMS numbers get blocked or rejected after initial use. Persistent numbers, on the other hand, maintain reputation and deliver consistently across sessions and services, reducing repetitive errors.

4. Stronger Fraud Control

Verified accounts backed by persistent phone numbers reduce fraudulent signups. This is especially important in sectors like digital finance and online marketplaces, where trust is foundational.

Implementing Registration Numbers Effectively

Choose true registration numbers.
Not all virtual numbers are equal. Prioritize those designed for repeated verification and long-term use.

Use local prefixes.
Egyptian country codes signal legitimacy and improve delivery.

Monitor performance.
Track delivery rates and user success to optimize your verification workflow.

Integrate with backend systems.
Tie verification logs to analytics, CRM, and fraud detection tools for end-to-end visibility.

Conclusion

In Egypt’s competitive digital landscape, verification failure represents lost users and operational inefficiency. The right solution is reliable, persistent registration numbers that work repeatedly across platforms and are perceived as local by users. These numbers increase trust, improve conversion, reduce support costs, and strengthen fraud defenses.

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Obi, Atiku Slam Tinubu on Tax, Economic Policies

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By Adedapo Adesanya

Former presidential candidates at the 2023 presidential election, Mr Peter Obi and Mr Atiku Abubakar, have separately slammed President Bola Tinubu on issues relating to economic conditions of Nigerians.

Mr Obi in a statement argued that taxation must be rooted in transparency, fairness, and concern for citizens’ welfare, cautioning that the ongoing controversy over the alleged manipulated tax law threatens economic growth and public trust.

Despite recent controversies, the new tax laws regime have officially kicked off.

“For the first time in Nigeria’s history, a tax law has reportedly been forged. The National Assembly itself has admitted that the version gazetted is not what was passed into law,” he said.

“Yet, citizens are being asked to pay higher taxes under this manipulated framework, without transparency, without explanation, and without corresponding benefits,” the candidate of the Labour Party in 2023 noted.

Mr Obi, who is now with the African Democratic Congress (ADC), stressed that “taxing poverty does not create wealth; it deepens hardship,” urging the government to focus instead on empowering small and medium-sized enterprises, which he said are critical for job creation, income growth, and the natural expansion of the tax base.”

“You cannot tax your way out of poverty, you must produce your way out of it,” he noted, calling for a lawful, fair, and people-centered tax system that supports production, rewards enterprise, protects the vulnerable, and restores trust between government and citizens.

“Nigeria needs a fair, lawful, and people-centred tax system, only then can taxation become a true tool for unity, growth, and shared prosperity,” Mr Obi concluded in the statement posted on his official X handle.

On his part, Mr Abubakar, a former Vice President, warned that policy failures under President Tinubu are deepening business distress, accelerating job losses, and pushing the country toward economic collapse.

In a New Year message to Nigerians, he described 2025 as “one of the most punishing years in our recent history,” marked by what he called “economic suffocation” and governance devoid of empathy.

He said the Tinubu-led administration presided over months of fiscal drift, borrowing heavily while businesses struggled to survive.

“The past year exposed, in stark terms, the incompetence and policy bankruptcy of President Bola Tinubu,” Mr Atiku said, adding that the government governed “for months without a functional budget, relying on propaganda while borrowing recklessly.”

From a business perspective, Mr Atiku, who was the candidate of the Peoples Democratic Party (PDP) in the last presidential poll, warned that the operating environment for enterprises deteriorated sharply, with small and medium-sized businesses bearing the brunt of inflation, weak consumer demand, and policy uncertainty.

“Industries shut down. Workers were sent home. Hunger spread. Suffering became normalized,” he said.

He also questioned the credibility of the government’s reform agenda, citing what he described as a scandal involving a forged tax law.

“Nothing better captures the decay of this government than the scandal of a forged tax law, shamelessly branded a ‘reform’,” Mr Atiku, who has also now defected to the ADC, said, warning that “a government that begins reform with forgery cannot end with prosperity.”

Mr Atiku further dismissed official claims of revenue performance, arguing that worsening insecurity and debt accumulation were eroding investor confidence.

“While drowning the nation in debt, the government falsely claimed to have met revenue targets,” he said, noting that kidnappings and violent crimes had disrupted livelihoods and economic activity nationwide.

He said unemployment, labour unrest and collapsing enterprises defined the year, contradicting repeated assurances of economic recovery.

“Small businesses, the backbone of job creation, are collapsing. Workers are losing jobs,” Atiku said, arguing that policies demanding sacrifice from citizens were unjustified.

He warned, however, that weak institutions and disregard for due process could undermine future economic stability and elections. “A government capable of forging or tampering with laws cannot be trusted to conduct free and fair elections in 2027,” he said.

Calling for civic engagement, Mr Atiku urged Nigerians and the business community to organize for change through democratic means. “Democracy gives the people the power to change a failing government, peacefully and decisively, through the ballot,” he said.

He concluded with a call to action: “Let us vote out hunger, insecurity, unemployment, dishonesty, corruption, abductions, lies, and propaganda. Nigeria deserves better. Nigerians deserve dignity.”

Business Post reports that both Mr Obi and Mr Atiku are planning to work with other politicians to oust Mr Tinubu in the 2027 general elections through the ADC.

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Nigeria Now Saves N10trn Yearly After Fuel Subsidy Removal—Yayi

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By Adedapo Adesanya

The Senator representing Ogun West Senatorial District at the National Assembly, Mr Solomon Adeola, otherwise known as Yayi, has revealed that Nigeria now saves approximately N10 trillion annually following President Bola Tinubu’s removal of fuel subsidy.

Mr Adeola, who doubles as chairman of the Senate Committee on Appropriation, stated this on Saturday during his new year thanksgiving service held at the Cathedral Church of Christ, Ona-Nla, Ilaro.

The Senator noted that within two years in office, the President had succeeded in removing a major cankerworm that had undermined the nation’s economy and finances.

According to him, before the removal, few Nigerians were benefiting from the fuel subsidy at the detriment of the overall population of the nation.

The lawmaker noted that prior to the removal of fuel subsidy, Nigeria borrowed an estimated N6 trillion to N7 trillion each year to finance the subsidy.

“I am a living testimony to what the president has done. Within his two years of assumption of office, he succeeded in removing the cankerworm in our economy that has affected our finances over the years.

“That is, the fuel subsidy; which benefited very few Nigerians at the detriment of the overall population of this nation.

“With that singular action, the president is saving the country over N10 trillion on annual basis.

“I used to be the chairman of the Senate Committee on Finance during the last senate and I know on a yearly basis, what we go to bank to borrow to fund the subsidy is in the region of N6 trillion to N7 trillion on an annual basis,” he said .

Mr Adeola said the president was working round the clock to ensure a secure and prosperous Nigeria that citizens can be proud of, adding that extensive infrastructural renewal is currently ongoing across the country.

“The President is creating a new Nigeria . The Lagos-Calabar expressway will cut across 10 or 15 states and that is a new Nigeria being born. Also the Sokoto -Badagry way, a popular road, which we are also a beneficiary.

“Along that road alone, we have a total of 66 dams. When that road is fully completed, the president has also succeeded in creating a new Nigeria and a new economy for our country as a result of these 66 dams across the highway,” he said.

In his sermon, the Diocesan Bishop of the Cathedral Church of Christ, Ilaro, Rt. Rev. Micheal Oluwarohunbi, appreciated the federal legislator for changing the landscape of development in Ogun west senatorial district.

“Every new beginning is a gift from God. To work and do well is only by the grace of God. Gratitude is not optional, but mandatory in order to enjoy divine endorsement,” he said.

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