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Nigeria has filed a lawsuit against cryptocurrency exchange Binance, seeking to compel the company to pay $79.5 billion for economic losses caused by its operations in the country and $2 billion ...
The prosecutor maintained that the transfer of a total sum of ₦2.1 billion between October 2014 and March 2015 from the office of the National Security Adviser breaches Section 58(4)(b) of the Public Procurement Act 2007 and is punishable under Sections 58(6) and (7) of the same Act, as well as under Section 17(b) of the EFCC Act, 2004. [40]
The EFCC was established in 2003, partially in response to pressure from the Financial Action Task Force on Money Laundering (FATF), [2] which named Nigeria as one of 23 countries non-cooperative in the international community's efforts to fight money laundering. [1] The agency has its head office in Abuja, Nigeria. The EFCC was also set up to ...
Subsequently, from 1946 to 1948, Nigeria obtained an additional £5.74 million, further elevating the nation's total debt burden to £21.24 million by the conclusion of 1952. [ 10 ] In 1958, the Nigerian Protectorate issued a £28 million loan from the International Bank for Reconstruction and Development (IBRD), also known as the World Bank .
MTN group, through their spokesperson, said, "Pursuant to the ongoing engagement with the Nigerian authorities, MTN Nigeria has today (yesterday), made an agreed payment of N50 billion ($250 million) to the Federal Government of Nigeria on the basis that this will be applied towards a settlement, where one is eventually, and hopefully, arrived at.
Nigeria corruption rating by TI improved from 143rd to the 136th position in 2014. [57] In late 2013, Nigeria's then Central Bank governor Sanusi Lamido Sanusi informed President Goodluck Jonathan that the state oil company, NNPC, had failed to remit US$20 billion in oil revenues owed to the state. Jonathan, however, dismissed the claim and ...
Nigeria received an RFI emergency loan for economic losses incurred due to COVID-19, which is to be repaid within 5 years, and repayments beginning within the third year. [6] The RFI loan was conditioned upon the nation's adherence to transparency and participation in independent audits of crisis-mitigation. [6]
At the request of former Nigerian President Olusegun Obasanjo, the Economic and Financial Crimes Commission was created by the Nigerian Parliament in 2002. [13] In February 2004, Amaka Anajemba, Emmanuel Nwude, Emmanuel Ofolue, Nzeribe Okoli, and Obum Osakwe (Christian Anajemba was deceased at this point), were all arrested and charged in the Abuja High Court with 86 counts of "fraudulently ...