Category: Nigerian Tribune

Executive Chairman, Economic and Financial Crimes Commission ( EFCC), Mr Ola Olukoyede on Wednesday disclosed that, the commission had created a cybercrime advanced research centre, to combat financial and cybercrimes.

He added that, the centre would focus on developing cutting -edge fraud detection and prevention technologies, create resources and promoting policy development and youth Empowerment in digital literacy.

The agency Chairman who made this known Speaking as a guest speaker at the 17th Convocation lecture of the Redeemer’s University, Ede, Osun State, Titled ‘Beyond Degrees: Cultivating purpose, Resilience and Service in a Complex World’, however warned youths not to cut corners in desperation to get rich quick.

Concerned about the negative deployment of youths energy and skills to criminality especial online fraud known as yahoo-yahoo, the EFCC boss, remarked that, only those who are able to whether the storms of life, holding on to their dreams, overcoming obstacles and challenges,will leave their marks in the sands of time and warned them against such an act.

He then reinterated that Nigeria youths should be resilient, hold on to their dreams in life and desist from pressure, desperation to get rich quick.

Kwara state government has completed production of a N290 million Nollywood movie series mirroring the devastating consequences of kidnapping in Nigerian society.

Speaking with journalists in Ilorin, the state commissioner for communications, Bola Olukoju, said that the debut film of the state film school, Sugar Factory film studios, titled ‘Ajuwaya’, had a total number of 1,211 people on set.

The commissioner, who said that the production of the film was a big win for the state, added that 712 people on the movie set had acquired residency in the state.

Featuring notable actors like Desmond Elliot, Keppy Ekpeyong, Femi Adebayo, Tina Mba, Segun Arinze, Monalisa Chinda, among others, Olukoju said that production of Ajuwaya was supported with a N350 million grant by Nigeria’s First Lady, Senator Oluremi Tinubu, through her Renewed Hope Initiative programme.

’45 per cent of people in Nollywood are from Kwara state. And that’s what we lashed on. A whole new ecosystem of the creative industry is what’s being celebrated in Kwara state, as the production was done in a controlled environment where economic activities and job opportunities were opened up for fashion designers, carpenters, technicians, caterers, drivers, make-up artists, to develop their trades,’ Olukoju said.

Also speaking, the general manager of the Sugar Factory film studios, Olagbenga Titiloye, said that production of the movie was ‘a collaborative symphony of public leadership, private sector dynamism, artistic courage, and community support, all playing harmonious parts.

‘The Ajuwaya project is a beacon of what is possible when government, philanthropy, and industry align toward a common goal: to cultivate homegrown talent, generate employment, and reinforce our cultural identity on both regional and global stages.’

Olagbenga, who commended Governor Abdulrahman Abdulrazaq for his willingness to champion a film studio in Nigeria, said that the effort ‘demonstrates not only a bold strategic mind but also a deep faith in our people and their talent.

‘It is through that foresight and resolve that we have arrived at this moment: a state-backed endeavour that nurtures artistry, innovation, and economic vitality.

‘We also extend appreciation to Her Excellency, the First Lady of Nigeria, Senator Oluremi Tinubu, and to the Renewed Hope Initiative. Your partnership and generosity, embodied by the grant that helped Sugar Factory Studios shoot its debut movie, Ajuwaya, embody the very spirit of national renewal: investing in our creative economy, empowering filmmakers, and inspiring the next generation to dream bigger.

‘This grant is more than funding; it is a signal, a beacon, and a pledge that Nigeria will not only tell its stories but export them with pride and excellence.’

As cyber threats grow in scale and sophistication, early-stage startups are increasingly finding themselves in the crosshairs of global attackers.

In response, OpenSource in Cybersecurity, a non-profit cybersecurity initiative created to help early-stage startup without enough resources to buy cybersecurity services, is emerging as a crucial ally to early startup founders, offering vital cybersecurity support and guidance to early-stage founders at no cost.

Speaking with the founder, Mr Jamiu Olamilekan Akande, he described this support as social innovation support for early-stage founders to protect them against global cyber threat because he strongly believes early-stage startup founders are the builder of our world and deserve all the support, they can get to build a better world for all.

With limited budgets and lean teams, startups across Africa, Europe, and beyond often struggle to keep pace with the rapidly evolving threat landscape.

OpenSource in Cybersecurity steps in to bridge this gap, providing founders with access to enterprise-grade security resources and mentorship, all powered by a global network of volunteers.

The impact of the work being done by OpenSource In Cybersecurity is globally felt as we support early-stage startups from Lagos or London, our priority is to support those early-stage startups that require such support, said the founder.

He also mentioned they are unable to help founder that has become profitable or has raised large investment fund based on our terms of service as explain on their website, our focus is to help those without resources to get the paid services in the market.

By leveraging the power of open-source solutions, OpenSource in Cybersecurity is able to deliver robust, enterprise-level protection without the burden of licensing fees or complex contracts.

Founders benefit from step-by-step setup help, ongoing mentorship, and a supportive global community-all designed to make advanced cybersecurity accessible to even the smallest teams.

As remote work and AI-driven threats introduce new vulnerabilities, the need for accessible, high-quality cybersecurity has never been greater. OpenSource in Cybersecurity is expanding its mission, inviting founders and volunteers worldwide to join the movement and help build a safer, more resilient startup ecosystem as a way to improve our world and protect the early builders from global cyber threats.

Early-stage founders building innovative solutions and facing resource constraints are encouraged to seek free cybersecurity support from OpenSource in Cybersecurity, volunteers who believe in supporting early-stage startups can apply as well to help us support the founders.

APM Terminals Nigeria has emphasised that continuity and consistency in policy regulations are essential to creating an enabling environment for foreign investment inflow into the country.

This was stated by the Chief Executive Officer of APM Terminals Nigeria, Frederik Klinke, at the 31st Annual Nigerian Economic Summit, which recently concluded in Abuja.

The summit, themed The Reform Imperative: Building a Prosperous and Inclusive Nigeria by 2030, brought together key stakeholders in the public and private sectors.

Speaking during a CEO Roundtable panel discussion on The Future of Infrastructure Funding in Nigeria, Klinke described Nigeria’s inclusion in every global investor’s portfolio as crucial to their long-term strategy for Africa.

He said, ‘What investors are concerned about is long term predictability; there must be policies in place that would not change. There is a lot of positivity around the reforms being taken by the government. However, there has to be the right regulatory environment for predictability that guarantees that the rules will not change.

‘The same goes for the commercial terms of these investments. When you operate in a volatile inflation and forex environment like Nigeria, investors understand that but there has to be assurance that the regulation in place allows for such volatility by enabling investors to adjust tariffs when inflation runs high. If that is not in place, that it becomes a huge hindrance to business.’

Other panelists who shared their recommendations on the topic included the Executive Director of InfraCredit, Daniel Mueller; the Director-General of the Nigeria Country Office, African Development Bank, Abdul Kamara; and the Chief Executive Officer of ARM-Harith Infrastructure Investments Limited, Rachel More-Oshodi.

Earlier, Nigeria’s Vice President, Kashim Shettima, during the opening ceremony, assured delegates that while Nigeria’s challenges were daunting, they were not insurmountable.

He said, ‘Every reform we have introduced has emerged from deep reflection and the courage to act in the interest of the nation. Our ticket to achieve inclusive and lasting prosperity is our series of sound policies, strong partnerships, and the commitment of the private sector. This is why we must use this platform to develop actionable recommendations to drive sustainable growth and strengthen our nation’s resilience. The government is ready to receive and implement recommendations that will emerge from your deliberations through the relevant MDAs. We will industrialise Nigeria through power, logistics and technology.’

Director-General of the Infrastructure Concession Regulatory Commission (ICRC), Jobson Ewalefoh, described as unanimous the reality that political risk remains Nigeria’s biggest hindrance to investors.

He said, ‘The discussion before us goes beyond the funding of physical assets. Our infrastructure gap represents a significant challenge and transformative opportunity. Public resources can no longer support the transformation we envisage. This is exactly where ICRC serves as a catalyst; to regulate and oversee PPE projects.

‘As a country, we cannot run away from the fact that we have an infrastructure challenge. This is what we are trying to do differently at ICRC; we are trying to create solutions for the problems. We have begun this by streamlining the BPE process. Lots of people want to invest in Nigeria. Nigeria is open for business and the ICRC is available to guide investors.’

Officials of the Kwara state Fire Service on Wednesday recovered a lifeless male body from the Asa River along Emir’s Road, Ilorin, the state capital.

In a statement by the head, media and publicity of the service, Hassan Adekunle, he said that the discovery was made at about 11:06 am, adding that the victim was identified as a mentally challenged individual.

‘At about 11:06 hours on Wednesday, 8th October 2025, the Kwara State Fire Service recovered a lifeless body from the Asa River along Emir’s Road, Ilorin. The victim, identified as a mentally challenged individual, was discovered floating in the river.

‘The cause of the drowning could not be immediately ascertained. The recovered body was later handed over to the Permanent Secretary, Ministry of Environment, for further necessary action.

‘The Director, Kwara State Fire Service, Prince Falade John Olumuyiwa, expressed sympathy over the unfortunate incident and advised members of the public to exercise caution and avoid risky movements around riverbanks and other water bodies to prevent similar occurrences,’ the statement read.

The Senator representing Abia North Senatorial District and former Governor of Abia State, Orji Uzor Kalu, has accused former President Olusegun Obasanjo of ‘lying to Nigerians’ about his alleged bid to secure a third term in office during his tenure as Nigeria’s leader.

Speaking on Channels Television’s Politics Today, Kalu dismissed Obasanjo’s recent denial of the third term agenda as a ‘naked fallacy,’ insisting that the former president had personally confided in him and several other governors about his intention to amend the constitution to enable him to remain in power beyond 2007.

‘With due respect to President Obasanjo, what he said in Ghana was a naked lie, a naked fallacy,’ Kalu declared. ‘Many people who were part of that period are still alive – David Mark is alive, others are alive. They know the truth.’

The senator alleged that substantial sums of money were distributed to lawmakers in an attempt to gain their support for the proposed constitutional amendment that would have extended Obasanjo’s tenure.

‘Senator Wande brought ?50 million which they shared, and they asked me if I would take as a governor,’ Kalu recounted. ‘I said no – go and give it back. Even the National Security Adviser at that time was aware of what was happening. Obasanjo was at the centre of it all.’

According to Kalu, his refusal to support the move was the beginning of his political rift with the former president.

‘My quarrel with him started when I told Presidents Thabo Mbeki of South Africa and George Bush of the United States that Obasanjo was running for a third term,’ he said. ‘I even told Nelson Mandela, may his soul rest in peace. They all confronted him. I don’t know why Nigeria should be built on lies by statesmen.’

Responding to Obasanjo’s recent claim that no Nigerian ‘dead or alive’ could assert he sought a third term, Kalu maintained that the former president had personally discussed the plan with him.

‘Of course, he told me in the Villa,’ Kalu said. ‘That was the beginning. I told him it was not possible. He had already convinced some governors, but people like me and a few others said no. I am a committed Christian. I took an oath with the Bible to serve for only eight years, and that was the end of it.’

He added that Obasanjo often referred to long-serving leaders such as Libya’s Muammar Gaddafi as justification for his ambition, an idea Kalu described as fundamentally undemocratic.

‘He used to say Gaddafi was still there, others were still there,’ Kalu recalled. ‘But democracy is about the rule of law. The beauty of constitutional democracy is the time limits. If the constitution says eight years, nobody should go beyond that. Anyone who tries is inviting the wrath of God.’

Kalu maintained that the third term plot was widely known among the political class at the time.

‘He told many northern governors too. If those governors are courageous enough, they will say the truth,’ Kalu said. ‘He wanted a third term, and we stopped him. He was even at loggerheads with Governor Peter Odili over it. The man cannot rewrite history – it is clear he wanted a third term.’

The lawmaker stated that his resistance to Obasanjo’s ambition was motivated by his commitment to constitutional order rather than personal grievances.

‘We stopped him because of the constitution,’ he affirmed. ‘Our constitution is supreme. Even the U.S. government under President George Bush supported efforts to stop him. History will remember that some of us stood for democracy,’ he said.

Nigeria Police Force (NPF) has announced the suspension of the vehicle tinted glass permit enforcement following a Court order.

The decision was disclosed by the spokesperson for the Federal Capital Territory (FCT) Police Command, SP Josephine Adeh, during an interview on AIT.

According to Adeh, the police received the court order, and the enforcement of the tinted permit is now on hold pending the court’s verdict.

‘Information reaching me from the office of the PRO is that the order has been received and the enforcement of the tinted permit is now on hold pending the court’s verdict,’ she said.

The police directive to suspend enforcement will remain in place pending the outcome of the ongoing legal process regarding the tinted glass permit.

‘We are waiting for the verdict. We are not against the courts, and we will continue to wait until we get a verdict,’ Adeh added.

The tinted glass regulation was introduced for security reasons, with Adeh explaining that some criminal activities had been carried out using vehicles with darkened windows.

‘The law was not made by us. We are enforcers. The policy was purely security-driven. Some criminals were using tinted vehicles to commit offences, making it difficult for law enforcement to identify suspects,’ she said.

It emphasises the importance of the tinted glass permit as a measure to enhance safety.

Adeh also dismissed claims that the policy was designed for financial gain, stating that all payments related to tinted permits are made directly into the Federal Government’s Treasury Single Account (TSA), not to the police.

The European Union (EU) and its partners have pledged renewed and sustained support to Nigeria in implementing its third Nationally Determined Contribution (NDC 3.0) under the Paris Agreement, as the country takes bold steps to strengthen its climate ambition and institutional capacity ahead of COP30 in Brazil.

Speaking during the EU-Nigeria NDC roundtable held in Abuja on Tuesday as part of activities marking the EU Green Diplomacy Week (October 6-10), officials from both sides reaffirmed their shared commitment to advancing climate action through transparency, accountability, and robust collaboration.

The EU and its Member States welcomed Nigeria’s official submission of the updated and more ambitious NDC 3.0, describing it as a significant milestone that positions the country as the first in West Africa to submit a new climate pledge aligned with long-term development priorities.

Head of the Green and Digital Economy Section at the EU Delegation to Nigeria and ECOWAS, Inga Stefanowicz, said the dialogue demonstrated the EU’s commitment to supporting Nigeria’s climate transition and the shared goal of achieving sustainable growth.

‘The Green Diplomacy Week is something we celebrate every year, bringing together our partners to discuss climate change, the environment, and our shared objectives,’ she said. ‘This year is particularly important, as it marks ten years since the adoption of the Paris Agreement. For us at the European Union, it is an opportunity to reflect on collective progress while recognising that much more still needs to be done.’

She noted that while the EU has made impressive progress in reducing its emissions, global cooperation remains essential to achieving climate targets.

‘Within the EU, we have reduced emissions by nearly 40% since 1990 and are on track to achieve our 2030 target of a 55% reduction. But this is not something we can achieve alone. As we push forward within the EU, we are also working closely with our international partners. We are here to support, to collaborate, and to share experiences that strengthen trust and accountability in the global process.’

Stefanowicz emphasised the importance of a strong Monitoring, Reporting and Verification (MRV) system as the foundation for credible and effective climate policy.

‘The MRV system is a cornerstone of the internationally adopted climate framework. It ensures transparency, enhances credibility, and builds the trust needed for effective climate policy. A strong MRV system is indispensable for both public and private climate finance, supports evidence-based policymaking, and lays the foundation for successful carbon markets. This is something Nigeria is now taking forward, and the EU is proud to support that journey.’

Representing the Minister of Environment, Mrs Halima Bawa-Bwari reaffirmed Nigeria’s determination to move from ambition to measurable action. ‘Ambition alone is not enough. We must demonstrate progress with clarity and confidence. For Nigeria, a robust MRV system ensures accountability by tracking emissions, converting targets into measurable outcomes, and unlocking climate finance by assuring partners of real impact. It also enables data-driven policies that deliver smarter interventions and maximise socio-economic benefits.’

She acknowledged the progress already made by the National Council on Climate Change (NCCC) and relevant ministries but noted that key institutional challenges remain. ‘We have a unique opportunity to co-create a world-class MRV architecture that reflects Nigeria’s realities while meeting global standards. We recognise the progress already made by the National Council on Climate Change and other ministries and agencies. But we also acknowledge the remaining gaps, such as fragmented data, weak coordination, and limited capacity. Overcoming these requires a holistic approach and the continued support of partners such as the European Union.’

In his remarks, Omotenioye Majekodunmi, Director-General of the NCCC, stressed that technology, data, and innovation must be matched with inclusivity and cooperation to deliver results. ‘We are here to make progress in implementing the Paris Agreement and our NDC commitments. To do this, we need MRV systems that effectively track progress across Nigeria’s diverse governance and economic structures. Cooperation at all levels-national, subnational, and international-is essential. Strengthening capacities, building skills, and ensuring sustained support are all critical to meeting evolving global climate reporting requirements.’

The EU-Nigeria exchange served as a vital platform for dialogue among government institutions, civil society, and the private sector on how best to operationalise NDC 3.0. Discussions focused on aligning Nigeria’s climate goals with the Paris Agreement, the National Development Plan, and the country’s long-term net-zero vision, while strengthening institutional frameworks that support implementation.

THE Central Bank of Nigeria (CBN) has issued new restrictions on who can qualify to operate as Point of Sale (PoS) agents under its revised Guidelines for the Operations of Agent Banking in Nigeria, effectively barring individuals with unresolved debts, watch-listed Bank Verification Numbers (BVNs), or a history of financial misconduct from participating in the fast-growing agent banking sector.

The guidelines, released on October 6, 2025, aim to tighten due diligence standards in an industry that has become critical to financial inclusion but is also plagued by fraud, over-concentration of risk, and weak oversight.

The new rules mark a significant tightening of Nigeria’s agent banking framework, moving beyond transaction monitoring to focus on the integrity of the individuals who operate at the last mile of financial inclusion.

Under the new rules, any person or entity with a non-performing loan with any financial institution in the last 12 months is ineligible to be appointed as an agent. The CBN said credit information would be verified through licensed credit bur-eaus, closing loopholes that have allowed individuals with bad debts to resurface as POS operators.

Also disqualified are individuals whose BVNs have been watch-listed, as well as anyone who has been blacklisted for financial mis-conduct. Agents convicted of felonies, fraud, dishonesty, or related offences will also not be permitted to operate.

In addition, persons declared bankrupt or companies that have filed for insolvency are automatically barred from agent banking, reinforcing the regulator’s stance that only financially stable and trustworthy actors can hold such positions.

For those seeking approval, the guidelines stipulate basic eligibility conditions. Prospective agents must demonstrate the ability to carry out permissible activities such as deposits, withdrawals, and bill payments. They must also provide all mandatory information required under CBN regulations, secure au-thorisations from relevant authorities where necessary, and, in the case of individu-als, be at least 18 years old and of sound mind.

The central bank also mandated that principals – banks, super agents, and licensed payment service providers – conduct comprehensive due diligence before appointing agents. This includes verifying credit history, criminal records, sources of funds, business ad-dresses, and pre-existing relationships that could pose risks.

Agent banking has expanded rapidly in Nigeria, driven largely by PoS operators who bring financial services to rural and underserved com-munities. There are over 8.3 million registered PoS terminals in the country and 5.9 million already deployed as of March 2025, with agents handling billions of naira in transactions monthly.

However, the sector has faced rising cases of fraud, theft, and unlicensed operators exploiting gaps in over-sight. By cutting off access for individuals with poor credit records or compromised BVNs, the CBN is signalling its intent to clean up the PoS industry and safeguard customer trust. Industry oper-ators, however, face higher compliance costs, as principals must integrate credit checks, BVN verification, and legal clearances into their onboarding processes.

The new qualification criteria are part of broader reforms, which also include mandatory geo-tagging of Pos devices, transaction lim-its, real-time settlement re-quirements, and stiffer sanctions for default.

In August 2025, the CBN had already ordered operators to geo-tag all Pos devices within 60 days and align with the global ISO 20022 messaging standard. That directive set the stage for tighter rules in October, which now embed sanctions and stricter onboarding checks.

However, the latest guidelines have extended the deadline to April 1, 2026. The extension to April 2026 gives breathing space but does not soften the threat: come enforcement day, non-geo-locked terminals may be shut down, and agents or institutions may iCBN bars debtors, blacklisted BVNs from operating as Pos agents

The Central Bank of Nigeria (CBN) has issued new restrictions on who can qualify to operate as Point of Sale (PoS) agents under its revised Guidelines for the Operations of Agent Banking in Nigeria, effectively barring individuals with unresolved debts, watch-listed Bank Verification Numbers (BVNs), or a history of financial misconduct from participating in the fast-growing agent banking sector.

The guidelines, released on October 6, 2025, aim to tighten due diligence standards in an industry that has become critical to financial inclusion but is also plagued by fraud, over-concentration of risk, and weak oversight.

The new rules mark a significant tightening of Nigeria’s agent banking framework, moving beyond transaction monitoring to focus on the integrity of the individuals who operate at the last mile of financial inclusion.

Under the new rules, any person or entity with a non-performing loan with any financial institution in the last 12 months is ineligible to be appointed as an agent. The CBN said credit information would be verified through licensed credit bur-eaus, closing loopholes that have allowed individuals with bad debts to resurface as PoS operators.

Also disqualified are individuals whose BVNs have been watch-listed, as well as anyone who has been blacklisted for financial mis-conduct. Agents convicted of felonies, fraud, dishonesty, or related offences will also not be permitted to operate.

ýThe Rotary Club of Ibadan Pathfinder, on Monday, donated a brand-new sewing machine to a local tailor in need, as part of its economic empowerment initiative.

ýThe beneficiary, Mr. AbdulRaman Alao, popularly known as Tasere, had been working with a rented sewing machine for several years.

ýThe donation took place at Dugbe Market, Ibadan, where members of the club gathered to present the gift.

ýSpeaking at the event, the President of the club, Rotarian Mojibola Babalola, said the gesture was part of Rotary’s commitment to community service and economic development.

ý’Rotary is a humanitarian service organization with a presence in over 119 countries around the world. Before we give out any item, we usually carry out an assessment,’ Babalola explained. ‘Our immediate past president, Rotarian Femi Joseph, discovered that Mr. Alao had been using a borrowed sewing machine that was worn out and later retrieved by its owner. When we learned he could no longer work because of that, we decided to step in and empower him with a new machine.’

ýShe added that the donation coincided with Rotary’s Economic and Community Development Month, which focuses on initiatives that enhance livelihoods and promote self-reliance.

ý’Rotary digs wells we don’t drink from and plants trees we may never sit under,’ Babalola said. ‘This is the spirit of service that defines who we are. We encourage more people to join us in making a difference.’

ýShe also advised the beneficiary to make good use of the equipment and, in turn, give back to the community when he can.

ýIn his remarks, Mr. Alao expressed profound gratitude to the club, saying he would ‘forever be thankful’ to the Rotary Club of Ibadan Pathfinder for ‘putting bread on his table.’

ýThe immediate past president, Rotarian Femi Joseph, also urged Alao to maintain the machine properly and use it to build a sustainable means of livelihood.