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In this context, my aim is to showcase the potential for efficiently and swiftly implementing State Police, emphasizing the crucial need for collaboration between the State and Federal National Assembly to amend the constitution and facilitate this change. Drawing inspiration from successful models in the Global North, specifically the Metropolitan Police, I aim to underscore […]

In the contemporary digital landscape, fraud and financial crime pose significant challenges. International studies reveal a 72% surge in fraudulent activities in 2022, with nearly 25% of survey participants anticipating a substantial budget rise for anti-fraud technology until 2025. Generative artificial intelligence (AI) has significantly impacted various industries, intensifying the complexity of combating financial crimes. […]

Tokunbo Abiru, the chairman of the Senate Committee on Banking, Insurance, and Other Financial Institutions, urged the Central Bank of Nigeria (CBN) to involve the National Assembly and key stakeholders in its proposed banks’ recapitalization during a retreat with the Nigeria Deposit Insurance Corporation in Lagos State on Saturday. Abiru emphasized the need to continuously […]

The Nigerian Naira witnessed a decline against the US Dollar in both the official and unofficial markets due to sustained demand pressure, exerting further strain on the country’s currency. Despite the Central Bank of Nigeria (CBN) implementing various policies to enhance foreign exchange (forex) supply, the official forex trading platform, NAFEM, reported a 4.1% depreciation […]

The IMF has forecasted a potential $8 billion reduction in Nigeria’s foreign reserves for 2024, as outlined in its latest country report. This suggests a significant decline and potential foreign exchange challenges for the largest economy in Africa. As of February 8, the country’s external reserves were reported at $33.12 billion. The IMF anticipates a […]

Dr. Wunmi Bewaji, an expert in securities and financial regulation law, expressed that the Central Bank of Nigeria’s (CBN) directives instructing International Money Transfer Operators (IMTOs) to remit in naira will curb hoarding of scarce forex and deter speculation by those holding the currency. In an interview with our correspondent, he emphasized the positive nature […]

Data from the Nigerian Communications Commission (NCC) indicates that 9mobile, the fourth largest Mobile Network Operator (MNO) in the country, experienced a slight increase in subscribers over the past year. As of November 2023, 9mobile’s subscriber base reached 13,979,025, marking the highest figure since November 2020 when it reported 13,188,059 subscribers. Compared to November 2022, […]

Visa and the Egyptian Banks Company (EBC) have formed a partnership to simplify and enhance the international remittance process for Egyptians residing abroad. This development comes after EBC’s collaboration announcement with Mastercard on February 7, 2024, aimed at enhancing Egypt’s digital payments landscape and promoting inclusive economic growth. The collaboration will leverage EBC’s technological infrastructure […]

Ghana’s central bank has implemented its initial interest rate reduction since 2021, decreasing the main rate by 100 basis points to 29% on Monday. This move comes in response to a continuous decline in inflation for the fifth consecutive month, notably in December. The country has been actively managing its debts to recover from a […]

Omolaraeni Olaosebikan, CEO of McEnies Global Communications, highlights the crucial role of Artificial Intelligence (AI) in risk communication, emphasizing its predictive abilities for developing effective strategies to manage disasters. She emphasizes that AI, through machine learning algorithms, can anticipate potential risks by analyzing historical data and past events, enabling proactive risk management and timely communication […]