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Court Convicts 21 Companies for Unlicensed Investment Operations.

Ikechukwu Emmanuel

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The Federal High Court in Lafia, Nasarawa State, has convicted 21 companies for operating financial investment businesses without valid licences from the Securities and Exchange Commission (SEC). The companies were prosecuted by the Abuja Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) under Section 57(1) of the Banks and Other Financial Institutions Act, 2020.

The companies were arraigned separately on September 15 and 16, 2026. As their representatives were absent when the charges were read, the court entered not-guilty pleas on their behalf following an application by the prosecution counsel, Nasir Umar. The trial subsequently commenced.

To support its case, the prosecution presented intelligence reports, statements from investigating officers, official correspondence, and responses obtained from the Corporate Affairs Commission and the SEC. The evidence indicated that the companies had engaged in financial investment activities, including advertising investment management services, without the required regulatory approval.

The EFCC stated that the companies were investigated after intelligence linked them to investment fraud and unlawful financial operations. Their promoters were invited for questioning in December 2022 and January 2023 but allegedly failed to appear. The Commission further claimed that the promoters avoided interrogation for several years.

Justice Anyalewa Onoja-Alapa found the companies guilty and sentenced each to a fine of N30 million. The court also ordered each company to pay an additional N200,000 for every day the offence was committed. The judgment underscores the importance of regulatory compliance and the legal consequences of operating financial businesses without proper licences.

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US Envoy Explains Nigeria Visit, Outlines Meetings with EFCC, Police and Other Officials.

Ikechukwu Emmanuel

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The United States and Nigeria have strengthened their cooperation against financially motivated sextortion, romance scams and other forms of transnational cybercrime.

Michael Gonzales, the United States Deputy Assistant Secretary of State for International Narcotics and Law Enforcement Affairs, highlighted the progress during his visit to Abuja. His trip coincided with Nigeria’s Cybercrime Awareness Week and focused on advancing shared security priorities.

Gonzales met with senior officials from the Economic and Financial Crimes Commission, the Office of the National Security Adviser, the National Drug Law Enforcement Agency and the Nigeria Police Force. Discussions centred on expanding joint investigations and improving coordination against cyber-enabled offences.

He noted that cybercrime crosses borders within seconds and urged law-enforcement agencies to ensure that international cooperation moves equally swiftly. Recent extraditions, he said, demonstrate the effectiveness of combining investigative, diplomatic and legal capabilities.

In August, Nigeria extradited two alleged cybercriminals to the United States. They face separate charges involving financially motivated sextortion cases connected to American minors who died by suicide. Since 2022, the FBI Legal Attaché Office in Abuja has worked with the EFCC on 41 extraditions, including five completed in 2026.

Gonzales commended the EFCC, the Federal Ministry of Justice and the Office of the Attorney-General of the Federation for supporting the investigations and extradition process. He also stressed that swift and visible accountability is essential to deterring criminals and protecting vulnerable victims.

The visit reaffirmed that the strength of US-Nigeria security cooperation is measured not only by funded programmes, but also by practical results and sustained institutional collaboration.

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Apostle Okoriko Urges Tinubu to Tackle Boko Haram.

Ikechukwu Emmanuel

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Evangelist Apostle John Okoriko of Akwa Ibom State has urged President Bola Tinubu to deploy the nation’s available resources and security architecture to combat Boko Haram.

Speaking during a monthly interactive session themed “The Power of Belief,” Okoriko attributed the sect’s activities to a destructive religious belief system. He warned that such beliefs, alongside other retrogressive cultural practices, could undermine Nigeria’s stability and development if left unchecked.

According to him, education drives technological advancement and economic growth. He therefore expressed concern that Boko Haram’s opposition to education, particularly in northern Nigeria, could severely damage the country’s future.

Okoriko also urged Nigerians to maintain faith in their country despite insecurity, economic hardship and limited technological progress. He stressed that a nation unable to uphold the rule of law or believe in its own future risks collapse.

He called on the Federal Government to confront Boko Haram decisively, promote education and discourage beliefs that hinder national development.

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NIMC Arrests Suspects in Illegal NIN Enrolment Operation.

Ikechukwu Emmanuel

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The National Identity Management Commission (NIMC) has arrested individuals allegedly involved in illegal National Identification Number (NIN) enrolment in Gwagwalada, the Federal Capital Territory, and other locations nationwide.

The arrests were made by the Commission’s Inspectorate Compliance and Enforcement Unit, which also confiscated equipment used for the unauthorised activities.

In a statement issued by its Head of Corporate Communications, Kayode Adegoke, NIMC said the operation formed part of its ongoing campaign against unauthorised enrolment, illegal data modification and the extortion of applicants.

The Director-General, Abisoye Coker-Odusote, reaffirmed the Commission’s zero tolerance for extortion and unprofessional conduct. NIMC urged Nigerians to complete enrolment only at approved centres and use its official self-service platform for data modifications.

The Commission also advised the public to avoid unauthorised agents, download the NINAuth app for security features such as NIN protection and slip printing, and report complaints through its toll-free line: 0800 0616 462.

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