Sources within the Economic and Financial Crimes Commission (EFCC) have disclosed that the agency had already completed significant investigations into Lagos-based Bureau De Change (BDC) operator Mukhtar Adamu Muhammad and three associated companies for alleged terrorism financing before the United States imposed sanctions on them. Officials indicated that criminal charges were being prepared when the U.S. indicted the suspects for allegedly acting as financial conduits for the Islamic State West Africa Province (ISWAP). The U.S. sanctions, part of a broader action against nine entities and individuals, freeze assets within U.S. jurisdiction and prohibit American citizens from transacting with the designated parties. Following the U.S. action, the Nigeria Sanctions Committee confirmed that these designations align with Nigeria’s own sanctions list updated on June 18, 2026, which followed extensive inter-agency intelligence and financial investigations.....KINDLY READ THE FULL STORY HERE▶

The EFCC was reportedly readying charges against Lagos BDC operator Mukhtar Adamu Muhammad and three linked companies for terrorism financing prior to their recent blacklisting by the United States. The U.S. Department of State designated these parties for allegedly facilitating funds for ISWAP operations. Confirming the move, the Nigeria Sanctions Committee noted that the U.S. action complements Nigeria’s own internal designations made on June 18, 2026, which resulted from collaborative investigations by multiple security and financial agencies. The Federal Government has since reiterated its mandate for all financial institutions to enforce asset-freezing requirements and report suspicious transactions, reaffirming its commitment to severing the financial lifelines of terrorist networks.

Option 3: Formal and Policy-Focused In a coordinated effort to combat terrorism financing, Nigerian authorities and international partners have moved against several individuals and entities accused of supporting ISWAP activities. Before the U.S. Department of State issued its recent sanctions against Lagos BDC operator Mukhtar Adamu Muhammad and associated firms, the EFCC had already finalized major aspects of its domestic investigation into the suspects. These designations—which include a total of six individuals and three companies on the Nigeria Sanctions List—were based on rigorous intelligence gathering and financial assessments. The Federal Government continues to coordinate with domestic stakeholders and international partners to strengthen financial integrity and deny terrorist organizations access to the global financial system.

Chief Justice of Nigeria (CJN), Justice Kudirat Kekere-Ekun, is set to preside over the swearing-in ceremony of Justice Joseph Olubunmi Kayode Oyewole as a Justice of the Supreme Court of Nigeria this Thursday. The event will take place at 2:00 p.m. in Courtroom Two of the Supreme Court complex in Abuja. Justice Oyewole, previously a Presiding Justice at the Court of Appeal’s Enugu Division, brings significant legal experience to the apex court. According to Dr. Festus Akande, the court’s Director of Information and Public Relations, this appointment underscores a broader commitment to bolstering the judiciary with seasoned jurists, ultimately aiming to improve the court’s capacity for timely and impartial justice while reinforcing the rule of law.....KINDLY READ THE FULL STORY HERE▶

This Thursday at 2:00 p.m., the Supreme Court of Nigeria will welcome Justice Joseph Olubunmi Kayode Oyewole, who is being sworn in by CJN Justice Kudirat Kekere-Ekun at the Supreme Court complex in Abuja. Elevated from his former role as Presiding Justice of the Court of Appeal’s Enugu Division, Justice Oyewole is recognized for his integrity and extensive legal background. The Supreme Court stated that this appointment is a strategic move to rejuvenate the bench, enhance judicial independence, and ensure that Nigerians have better access to fair and impartial legal outcomes. Attendees are advised to follow all established security protocols for the event.

Option 3: Formal and Policy-Focused The Supreme Court of Nigeria has announced that Justice Joseph Olubunmi Kayode Oyewole will be officially sworn in by the Chief Justice of Nigeria, Justice Kudirat Kekere-Ekun, on Thursday at 2:00 p.m. in Abuja. Formerly a Presiding Justice of the Court of Appeal, Enugu Division, Justice Oyewole’s elevation is viewed as an essential step in strengthening the apex court’s delivery of timely and impartial justice. In an official statement, the court highlighted that the appointment reflects a commitment to judicial excellence, the protection of the rule of law, and the ongoing rejuvenation of the judiciary. Guests are reminded to adhere to all necessary security arrangements upon arrival at the Supreme Court complex.

As of Wednesday, June 24, 2026, the parallel market—often referred to as the “black market”—reported the dollar trading at a selling rate of ₦1400 and a buying rate of ₦1385, according to Bureau De Change (BDC) sources. For comparison, the Central Bank of Nigeria (CBN) reported rates ranging between a low of ₦1368 and a high of ₦1392. It is important to note that the CBN does not officially recognize parallel market transactions and advises individuals to conduct all foreign exchange business through authorized commercial banks. Please be aware that actual market rates can fluctuate and may differ from those listed here.....KINDLY READ THE FULL STORY HERE▶

On June 24, 2026, the black market dollar-to-naira exchange rate stood at ₦1385 for buying and ₦1400 for selling. Conversely, the official CBN rates for the same day ranged from ₦1368 to ₦1392. While the CBN maintains that all forex operations should be handled via banks, market prices remain subject to change and may vary depending on the specific location or dealer.

Option 3: Formal and Policy-Focused Market data for June 24, 2026, indicates that the dollar exchanged for ₦1385 (buying) and ₦1400 (selling) within the parallel market. During this same period, official CBN data reflected rates between ₦1368 and ₦1392. The Central Bank of Nigeria continues to emphasize that it does not recognize the parallel market, recommending that all foreign exchange activities be processed through licensed financial institutions. As market conditions are volatile, readers should expect potential variations in the rates offered by individual dealers.