General
Transparency International Suggests Ways to Tackle Illicit Financial Flows in Nigeria
By Adedapo Adesanya
Transparency International (TI) has revealed “a more efficient measures” to tackle the rate of illicit financial flows into Nigeria. The agency said out of the $50 billion in Africa, Nigeria accounts for 34 percent in the sum of $17 billion on the continent.
In collaboration with the Nigeria Financial Intelligence Unit (NFIU) and the Independent Corrupt Practices and Other Related Offences Commission, the bodies have called on the Central Bank of Nigeria (CBN) to enjoin all agencies under it to help tackle this problem.
The partnership called on the apex bank to regulate the operators of the Bureau de Change (BDCs) to help report all formal and informal cash transactions, including diaspora remittances, which account for large financial inflow to Nigeria.
In a statement released after the third anti-money laundering conference held in Abuja, TI and its collaborators discussed and recommended how to explore new measures in Nigeria’s anti-money laundering regime.
The conference, which was convened by the Civil Society Legislative Advocacy Centre (CISLAC) in collaboration with TI, ICPC, NFIU and CISLAC, issued a communiqué which was signed by the Corporate Affairs Commission, National Drug Law Enforcement Agency, Special Control Unit against Money Laundering, Code of Conduct Bureau and Securities and Exchange Commission (SEC), among others.
In the joint communiqué, the anti-corruption bodies maintained that illicit financial flows in Nigeria should be ended to attain the sustainable development goals (SDGs).
It added that suspicious financial transactions “are increasingly detected but not adequately investigated. Money launderers and their enablers in and outside Nigeria trade with impunity and without consequences.”
It equally observed that the BDCs were crucial in reporting formal and informal cash transactions, including diaspora remittances, which account for large financial inflow to Nigeria.
The communique, therefore, urged the CBN to improve its financial and regulatory oversight in combating money laundering and corruption through banks.
It explained the need for the CBN to improve its financial and regulatory oversight in combating money laundering and corruption through banks.
It added that the conversion of usable information into credible intelligence “should be improved by the anticorruption agencies
The communique also urged the National Assembly to prioritise the passage of all pending bills that will catalyse the anti-money laundering campaign especially the Companies and Allied Matters Act (CAMA).
“The National Assembly must assert greater supervision and control over the financial institutions and their oversight institutions including the anti-corruption agencies to investigate and to reduce the volume of illicit financial flows and their damage to the national development,” it added.
Further, President Muhammadu Buhari was enjoined to sign the Companies and Allied Matters Act (CAMA) to facilitate establishment of a beneficial ownership register accessible to the public by the Corporate Affairs Commission.
It was stated that despite improvement in reported suspicious transactions, the rate of prosecution, conviction and asset confiscations on money laundering charges remained disappointing in Nigeria and in Africa.
The communique then emphasised the need for all anti-corruption agencies in Nigeria and Africa to transit from manual to digital technology to fight money laundering which it said is more efficient and result oriented.
It was also said pre-election and election years had the highest number of suspicious transaction reports, saying there was an inseparable factor between money laundering and political parties.
It also observed that availability of reliable data is critical for effective anti-money laundering measures.
They recommend that relevant public and private organisations should measure their business practices against international benchmarks as set by Financial Action Task Force and other global standard setters.
“Declaration of assets owned by senior officials and Politically Exposed Persons as required by the Code of Conduct Act must be enhanced, data made public and suspicious wealth investigated by the law enforcement.
“There should be promotion of transparency and the involvement of civil society groups and citizens’ participation in the utilisation and management of confiscated and seized assets,” the comminique demanded.
General
Pastor Ogbueli’s Abuja Night of Glory Holds Today
By Blaise Udunze
Momentum is gathering for the Abuja Night of Glory taking place today, Friday, December 5, 2025, at the main bowl of the Moshood Abiola National Stadium.
The crusade is being hosted by Dominion City Church headed by Pastor David Ogbueli and it starts by 7pm.
The all-night programme will feature dynamic worship leaders like Nathanial Bassey, Dunsin Oyekan, Theophilus Sunday, Chioma Jesus, Kaestrings, Sunmisola Agbebi Okeleye, Minister GUC, Ebuka Songs, Anthony Kani, and DC Angels.
Reputed as a teacher of righteousness and anointed minister of the gospel, evidenced by the miracles that have trailed his ministry, and one who champions the cause of the poor through empowerment initiatives, Dr. David Ogbueli will be joined by renowned ministers from within and outside Nigeria, including Evangelist Andres Bisonni, Dr. Charles Ndifon, Evangelist Dan Scott, Apostle Ikechukwu Nnajiofor, and several others.
Night of Glory has, in previous editions held across Nigeria’s cities, recorded remarkable results, such as immediate healings and freedom from chronic ailments, recovery of vision and movement after many years of paralysis, along with liberation from dependencies and emotional distress. Numerous participants have also shared testimonies of breakthroughs and big personal changes after the experience. Organisers state that this year’s event, in Abuja, is anticipated to exceed previous editions.
The event is intended for all individuals trusting God for divine intervention in any area of life.
Understanding the role of faith in the destiny of individuals and nations, a dedicated prayer session for Nigeria will take place during the crusade to tackle some of the current challenges being faced in the country and also to uplift he leaders and institutions before God.
Attendance is free, and registration is encouraged via the QR codes on event banners. Organisers expect a massive turnout as worshippers travel from across the country for what is anticipated to be a transformative encounter.
Adequate security and free transportation have been put in place ALL over the city of Abuja, while those outside Abuja are expected to join online.
General
Rivers Speaker, 15 Other Lawmakers Leave PDP for APC
By Modupe Gbadeyanka
The Speaker of the Rivers State House of Assembly, Mr Martin Amaewhule, has defected to the All Progressives Congress (APC).
At the plenary on Friday, Mr Amaewhule joined the ruling party from the opposition Peoples Democratic Party (PDP), along with 15 other members of the state parliament.
This development comes some months after they had earlier declared their support for the APC in the wake of a crisis with the state governor, Mr Sim Fubura.
The lawmakers had an issue with Mr Fubura, which led to a state of emergency declared on the oil-rich state by President Bola Tinubu in March 2025.
This embargo was only lift in September 2025 after the duration of the six-month emergency rule in the state.
A few days ago, members of the Rivers Assembly passed a vote of confidence on President Tinubu, backing him to remain in office till 2031, when he would have spent eight years in office if re-elected in 2027.
Announcing their defection today, the lawmakers pinned their decision on the crisis rocking the PDP at the national level.
It is not certain if their political godfather, Mr Nyesom Wike, who is the current Minister of the Federal Capital Territory (FCT), will join them in APC.
Mr Wike, who governed Rivers State from 2015 to 2023, has been accused of instigating the crisis in the opposition PDP. He was expelled from the party last month at a national convention held in Ibadan, Oyo State.
General
Nigeria Risks Brain Drain in Energy Sector—PENGASSAN
By Adedapo Adesanya
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has warned that Nigeria risks massive brain drain in the oil and gas sector due to poor remuneration.
The president of PENGASSAN, Mr Festus Osifo, said at the end of the National Executive Council (NEC) meeting of the union on Thursday in Abuja that the industry was facing challenges arising from Naira devaluation and inflation, noting that, oil and gas skills remained globally competitive.
Painting an example, he said, “A drilling engineer in Nigeria does the same job as one in the US or Abu Dhabi,” noting that the union must take steps to bridge the wage gap to prevent members from leaving the country for better opportunities abroad.
“If we don’t act, the brain drain seen in other sectors will be child’s play,” he said.
According to him, PENGASSAN has recorded significant gains through collective bargaining across oil and gas branches.
“We signed numerous agreements across government agencies, IOCs, service and marketing sectors,” he said.
He said the agreements brought relief to members facing rising costs of living, adding that, the association’s duty is to protect members’ jobs and enhance their pay.
Mr Osifo urged companies delaying salary reviews and those foot-dragging as a result of the prevailing economic realities, to do the needful.
He said the industry employed some of the nation’s best talents, making competitive pay critical to retaining skilled workers.
“This industry recruits the best. Companies must provide the best conditions,” he said.
On insecurity, Mr Osifo urged government to take decisive action against terrorism and kidnappings across the country.
“We are tired of condemnations. government must expose sponsors and protect citizens,” he said.
He urged government at all levels to prioritise tackling insecurity through better funding and equipment for security agencies.
Mr Osifo said PENGASSAN supported calls for state police to improve local security response, adding that decentralising policing will protect citizens better than rhetoric.
He also said economic indicators meant little, if food prices remained high and farmers could not return to farms due to insecurity.
“Nigerians want to see food on the table, not macroeconomic figures,” he said, urging the government to coordinate fiscal and monetary policies to ensure economic gains reach households.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years agoSort Codes of GTBank Branches in Nigeria
-
Economy2 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn












