AGS NEWS – The Economic and Financial Crimes Commission (EFCC) Enugu Zonal Command has apprehended Nweke Daniel Kelechi and Iroude Chibuzor for their alleged involvement in currency racketeering amounting to N850,000.00 (Eight Hundred and Fifty Thousand Naira). According to a … Continue reading EFCC arrests two in Enugu for alleged currency racketeering
AGS NEWS – Officials from the Economic and Financial Crimes Commission (EFCC) in Kaduna have arrested Abdullahi Yahaya and Ibrahim Haruna on suspicion of currency counterfeiting. According to a statement by the EFCC’s Head of Media and Publicity, Dele Oyewale, … Continue reading EFCC arrests suspect with over $81,000 in counterfeit currency
In the wake of a 68.55 percent decline in the value of the naira against the dollar by the end of September 2023, eight prominent firms have collectively declared a staggering N918.1 billion in currency revaluation losses. This significant downturn … Continue reading Eight companies report N918.1 billion loss in currency revaluation
The total amount of currency in circulation within the country has diminished from N2.6 trillion (N2,603,266 million) at the close of June 2023 to N2.59 trillion (N2,595,761 million) by the conclusion of July 2023. Notably, this marks the first decrease … Continue reading Currency in circulation records first drop in five months
The European Parliament has approved the world’s first comprehensive regulations to govern cryptocurrencies, hoping to protect investors against abuse and manipulation. The legislation has already been backed by EU member states, covering cryptoassets such as bitcoin, ethereum, and other tokens … Continue reading EU approves comprehensive rules to regulate cryptocurrencies
The World Bank has reported that the naira, Nigeria’s currency, has experienced a significant depreciation of 10.2% in 2022 due to global food and fuel price increases and exchange rate fluctuations, contributing to inflationary pressures in the Sub-Saharan region. Similarly, … Continue reading Naira suffered a 10% depreciation in 2022 – World Bank
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