NEWS
Court jails BDC operator six months for illegal forex trading
The Federal High Court in Ikoyi, Lagos, has sentenced one Faruk Umar to six months imprisonment for engaging in illegal foreign exchange transactions.According to a statement on Monday via X by the Economic and Financial Crimes Commission, Justice Chukwujekwu Aneke delivered the judgment on Wednesday, following Umar’s guilty plea to the charge brought against him by the EFCC.According to the statement, Umar was arrested on August 26, 2024, alongside others, at the Eko Hotel area of Victoria Island, Lagos, following credible intelligence on the activities of illegal Bureau De Change operators.He was later arraigned by the Lagos Zonal Directorate of the EFCC on a one-count charge related to fraudulent forex transactions.
The charge read in part, “That you, Faruk Umar, sometime in August 2024 at Eko Hotel Area, Victoria Island Lagos State, within the jurisdiction of this Honourable Court, engaged in a foreign exchange transaction other than through the official foreign exchange market and you thereby committed an offence contrary to Section 11(1)(a) of the National Economic Intelligence Committee Establishment Act, 1994 and punishable under Section 11(2) of the same Act.”During the court proceedings, EFCC prosecutor C.C. Okezie called investigating officer Hamisu Sanni to review the case facts. Sanni revealed that Umar confessed to buying and selling foreign currency without a Central Bank of Nigeria licence.
“We subjected his phone to forensic examination, which revealed over 40 conversations related to forex transactions with other individuals,” Sanni told the court.
The EFCC presented Umar’s confessional statements and investigation findings as evidence, after which the prosecution urged the court to convict and sentence him.In his ruling, Justice Aneke found Umar guilty and sentenced him to six months imprisonment, with an option of a ₦50,000 fine to be paid into the Consolidated Revenue Account of the Federation.The court also ordered the forfeiture of Umar’s phone to the Federal Government of Nigeria
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NEWS
Breaking Barriers, Building Legacies: Fiona Ahmed Ahimie Launches LEADHER Mentorship Session to Inspire the Next Generation of Female leaders
Lagos, Nigeria – June 2026 – As part of activities leading up to her investiture as the 14th President of the Chartered Institute of Stockbrokers (CIS) and the first female President in the Institute’s history, Dr. Fiona Ahmed Ahimie, Managing Director of First Securities Brokers Limited, hosted the inaugural LeadHER Mentorship Session on Thursday, June 18, 2026.The session, themed “Leading with Purpose, Breaking Barriers, Building Legacy,” brought together emerging female professionals and aspiring leaders from across various industries for an engaging afternoon of mentorship, learning, and empowerment.The LeadHER Mentorship Session was designed to provide participants with practical insights into leadership, career advancement, personal development, and navigating challenges in the traditionally male-dominated sectors. Through candid conversations and shared experiences, attendees gained valuable perspectives on building successful careers while creating lasting impact within their organizations and communities.Speaking at the event, Dr. Ahimie noted that leadership is not merely about achieving personal success but about creating pathways for others to thrive.”Throughout my professional journey, I have benefited from the guidance, support, and encouragement of remarkable mentors. The LeadHER Mentorship Session is an opportunity to pay that forward by equipping and inspiring the next generation of women to pursue excellence, embrace leadership opportunities, and break barriers with confidence,” she said.The mentorship session forms part of a broader commitment to advancing female participation and leadership within Nigeria’s financial services industry and the wider corporate ecosystem. It also reflects Dr. Ahimie’s longstanding dedication to talent development, professional excellence, and inclusive leadership.The event provided a platform for meaningful dialogue, networking, and knowledge sharing.Dr. Ahimie’s investiture as President of the Chartered Institute of Stockbrokers marks a historic milestone for the Institute and the Nigerian capital market, underscoring the growing role of women in shaping the future of the financial services industry.
NEWS
Insecurity: Governor Dauda Lawal Commends Troops for Recovering Ammunitions, Rustled Cattle
Zamfara State Executive Governor, Dr Dauda Lawal has commended the troops for their efforts and commitment to the fight against banditry in the state.On Saturday, the Violence Crime Response Unit (VCRU) of the Zamfara Police Command successfully recovered 329 cattle and 175 sheep from bandits in the Gambanda forest in Gummi Local Government.Governor Lawal, while appreciating the troops, described the Zamfara State Police’s renewed efforts as encouraging and promising in the fight against banditry.He said, “I commend the effort of all the security operatives in Zamfara State, especially the Zamfara State Police Command, for its resilience, bravery and commitment in recovering 329 cattle, 175 sheep, weapons and ammunition from bandits.”The police engaged and overpowered the bandits in Gambanda forest in Gummi local government area, which led to the recovery.”This commendable action reflects their tireless work in the face of challenges posed by criminal elements and underscores the police’s role in protecting the livelihoods of the people of Zamfara State.”The remarkable display of bravery and the successful recovery of livestock and weapons highlight the strong leadership of the Commissioner of Police, CP Ahmed Muhammad Bello. His guidance has been instrumental in improving public safety and combating banditry.”My administration remains committed to providing support to all security agencies in their efforts to ensure safety and security for our people.”
NEWS
Governor Dauda Lawal Approves Payment of Allowance to NYSC Members Serving in Zamfara
The Zamfara State Government is pleased to announce that His Excellency, Governor Dauda Lawal, has approved the payment of allowances/stipends to National Youth Service Corps (NYSC) members serving in the state. The approval reflects the administration’s unwavering commitment to the welfare and wellbeing of corps members who are contributing to the development of various sectors across Zamfara State.
The approval covers corps members from Batch A Stream I and II up to Batch C Stream I and II. Through this gesture, the government recognizes and appreciates the patriotism, dedication, and selfless service being rendered by the young graduates in education, healthcare, agriculture, and other areas critical to the growth and progress of the state.
Governor Dauda Lawal has directed the Office of the Accountant General to put in place all necessary arrangements to facilitate the implementation of the approval. The government is committed to ensuring that the process is carried out smoothly and in accordance with established procedures.
The Zamfara State Government remains grateful to the NYSC members for choosing to serve in the state and for their invaluable contributions to community development.
The administration will continue to prioritize initiatives aimed at supporting corps members and creating an enabling environment that will allow them to discharge their national responsibilities effectively.
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