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Nigeria Regains Global Confidence As CBN Celebrates Exit From FATF Grey List.
According to Nivo News, the Central Bank of Nigeria (CBN) has outlined several far-reaching benefits expected to follow Nigeria’s removal from the Financial Action Task Force (FATF) grey list, describing the move as a major boost for the nation’s financial credibility and global standing.....KINDLY READ THE FULL STORY HERE▶
In a statement released by Mrs. Hakama Sidi Ali, Acting Director of Corporate Communications, the apex bank said the delisting will enhance investor confidence, lower the cost of international banking transactions, and improve Nigeria’s reputation as a trustworthy financial jurisdiction.
The CBN explained that the decision would facilitate smoother trade and investment flows, attract more foreign investors, and strengthen partnerships with international development agencies. The Bank described the milestone as one that would reduce perceived financial risks while supporting Nigeria’s broader agenda for financial inclusion and sustainable economic growth.
The apex bank emphasized that both businesses and households would benefit from the delisting through reduced compliance costs, improved access to global finance, and faster, cheaper cross-border transactions. Over time, these advantages are expected to ease trade settlements, boost remittance inflows, and stabilize access to foreign exchange, thereby enhancing livelihoods and driving enterprise expansion.
Highlighting its pivotal role in the process, the CBN said it had intensified supervision and strengthened governance and transparency within the financial sector. It noted that reforms included updates to anti-money laundering and counter-terrorism financing (AML/CFT) regulations, risk-based supervision, and stricter fit-and-proper assessments for financial institutions.
The Bank further disclosed that compliance reporting had been expanded across remittance operators, bureaux de change, and fintech platforms to improve traceability and ensure greater transparency. Enhanced coordination with agencies such as the Nigerian Financial Intelligence Unit (NFIU), the Economic and Financial Crimes Commission (EFCC), and other law enforcement bodies also contributed to the success.
Additionally, the CBN implemented the Foreign Exchange Code (FX Code) and the Electronic Foreign Exchange Matching System (EFEMS) to reinforce market transparency and integrity. These efforts, alongside legal and operational reforms by other institutions, helped address deficiencies identified by FATF and its regional affiliate, the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA).
CBN Governor, Olayemi Cardoso, hailed the achievement, noting that the strengthened AML/CFT framework had restored international confidence in Nigeria’s financial system. He reaffirmed the Bank’s commitment to maintaining transparency and collaborating with both local and global partners to curb illicit financial flows and safeguard the nation’s economic integrity.
The CBN credited the success to coordinated efforts across key government agencies, commending the NFIU for leading technical engagements, law enforcement agencies for enforcement actions, and the Attorney-General’s Office and National Assembly for crucial legislative reforms.
The Bank assured that it would continue to uphold global AML/CFT standards to prevent any future reclassification, stressing that compliance remains a continuous process. It added that Nigeria’s removal from the grey list reflects renewed global confidence in the country’s economic management and reform agenda.
According to the CBN, recent international assessments and positive credit outlooks from global rating agencies affirm Nigeria’s improving policy credibility and external balance, marking a new chapter for the nation’s financial system. The Bank urged financial institutions to sustain strong compliance, governance, and internal control measures to fully harness the benefits of the delisting.
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‘Pain Before Prosperity’: Presidency Declares Current Hardship A Temporary Hurdle On The Road To Nigeria’s Economic Revival!
Bayo Onanuga, the Special Adviser to the President on Information and Strategy, has asserted that Nigerians are beginning to experience the positive impacts of President Bola Ahmed Tinubu’s economic reforms. He pointed to increased funding for states, improvements in infrastructure, and strengthening macroeconomic indicators as evidence that the administration’s policies are steering the country toward growth.....KINDLY READ THE FULL STORY HERE▶
During an interview on Arise TV, Onanuga countered criticisms from political opposition figures, maintaining that public support is increasing because citizens are seeing tangible changes in their local communities. He highlighted that state governments are now better equipped financially to undertake significant projects, including the construction of schools, roads, and health institutions.
Regarding the management of the naira, Onanuga defended the move to let market forces determine its value, stating this helped remove economic distortions and that the currency shows potential for further appreciation. While he acknowledged that many Nigerians are facing increased costs of living, he characterized these challenges as the “inevitable consequences” of necessary major reforms, comparing the current situation to a temporary period of pain before long-term prosperity.
On other key policy areas, Onanuga noted:
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Electricity Reform: He identified the Electricity Act as a landmark achievement that empowers states to independently generate, transmit, and distribute power, fostering a more competitive sector.
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Insecurity: He disputed claims that insecurity has worsened, arguing that some media reporting and opposition rhetoric exaggerate the reality of the situation.
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National Unity: He explained that the restoration of the old national anthem was a deliberate action by President Tinubu to emphasize the importance of unity and brotherhood among Nigerians despite their differences.
Onanuga concluded by affirming that the administration is laying the foundation for a stronger economy and that official communication remains consistent, even if the President’s personal style differs from his predecessors.
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Tension Erupts: Atiku’s Aide Dares Tinubu To Resign, Branding It A Move Of ‘Strength, Not Weakness’.
Paul Ibe, the media adviser to Atiku Abubakar, the presidential candidate for the African Democratic Congress (ADC), has publicly called for President Bola Ahmed Tinubu to resign. Speaking during an interview on Arise News, Ibe argued that stepping down is a patriotic decision rather than a sign of weakness when a leader fails to meet the fundamental duties of government—specifically the security and welfare of the citizenry.....KINDLY READ THE FULL STORY HERE▶
Ibe criticized the current administration as “incompetent” and “clueless,” asserting that the government’s approach to insecurity has been an ineffective cycle of “trial and error”. He pointed to the ongoing captivity of various victims and recent violence in Plateau, Benue, Oyo, and Kogi states as clear evidence that the government has failed to protect vulnerable communities or restore public confidence.
Regarding the proposed introduction of state police, Ibe clarified that while the Atiku camp supports the concept in principle, they view the government’s current push to legislate it ahead of the 2027 elections as a political maneuver rather than a genuine security initiative.
Furthermore, Ibe addressed public sentiment regarding the political establishment, noting that it remains the prerogative of Nigerian voters to evaluate whether Atiku Abubakar possesses the necessary competence and skill set to lead the country. He also dismissed recent media reports concerning alleged conditions set by former Minister Rotimi Amaechi for a potential running mate role, labeling such claims as mere speculation and stating that the party will handle its ticket announcements in due course.
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Drama In Court: El-Rufai Fires Back At DSS With No-Case Plea In Explosive Wiretapping Saga!.
Former Kaduna State Governor Nasir El-Rufai is preparing to submit a no-case plea in his ongoing wiretapping trial following the Department of State Services (DSS) decision to rest its case at the Federal High Court in Abuja. The DSS had charged the former governor with five counts, including unlawful communication interception and threats to national security, stemming from his February interview on Arise Television where he claimed to have intercepted a call involving National Security Adviser Nuhu Ribadu regarding his own potential arrest.....KINDLY READ THE FULL STORY HERE▶
During Tuesday’s proceedings, DSS counsel Oluwole Aladedoye announced that the prosecution would not present further witnesses. In response, El-Rufai’s defense counsel, Paul Erokoro (SAN), declared the intent to file a no-case submission, asserting that the prosecution failed to produce enough evidence to warrant a formal defense. Both parties have been granted two weeks to submit their respective filings.
Additionally, the defense requested a relaxation of El-Rufai’s bail terms, labeling the current requirements—which include sureties who are Level 17 civil servants with property in Maitama or Asokoro and verification from the Kaduna State Traditional Council—as overly burdensome. Justice Joyce Abdulmalik denied the request, maintaining that qualified civil servants exist who can meet these conditions. The case has been adjourned until September 22 to address the no-case submission and move forward with the trial.
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