Category : Search result: small money


Man fined N50,000 for naira abuse in Ibadan

A 28-year-old man, Ridwan Surajdeen, has been convicted and fined N50,000 by a Federal High Court in Ibadan for spraying and abusing naira notes. Read the full details of the EFCC's prosecution.

Nigerian fraud mastermind gets 20 years in US prison

Oluwaseun Adekoya, a Nigerian national, has been sentenced to 20 years for orchestrating a massive bank fraud and money laundering conspiracy across the United States. Read the full details of the sophisticated scheme.

Barber's Shop Demolished After Huge Investment

A Nigerian businessman's fully-equipped barbing salon was demolished after months of work, leaving him devastated. He blames a terrible access road and a difficult landlord.

Cross River Clears 500 for SME Loans at 5% Interest

Cross River State approves 500 entrepreneurs for SMEDAN-Sterling Bank loans at 5% interest rate. Governor Otu's initiative aims to boost small businesses and economic growth across the state.

Nigeria's Money Supply Reaches N119 Trillion

Nigeria's broad money supply increased to N119.04 trillion in October 2025, driven by rising domestic assets despite falling foreign reserves. Learn what this means for the economy.

Nigerian Man Convicted in US Romance Scam

Saheed Sunday Owolabi, a Nigerian man, faces 40 years in US prison for wire fraud and money laundering in romance scams. Read the full story of the cyber fraud conviction.

98% of Nigerian Workers Exempt from Income Tax

Nigeria's new tax reforms will exempt 98% of workers from personal income tax starting January 2026. Learn how SMEs and low-income earners benefit from VAT exemptions and other incentives.

Tukur Mamu Offered N50m from Terror Ransom - DSS

DSS reveals how terror leader offered Tukur Mamu N50m from ransom funds in Abuja court. Key evidence from audio recordings exposed in ongoing terrorism trial. Read full details.

BOI Unveils Business Clinic to Save Nigerian MSMEs

Bank of Industry launches structured Business Clinic model to address MSME survival crisis. Only 20% of Nigerian businesses survive past 5 years. New program targets 24,000 enterprises by 2027.

SEC: Sustain Compliance After FATF Grey List Exit

Following Nigeria's removal from the FATF Grey List, the SEC has called on capital market operators to deepen their compliance culture to protect the nation's global financial reputation.

Nigerian Stock Market Loses N2.1 Trillion

Investors on the Nigerian Exchange lost a staggering N2.1 trillion in one week as the market closed low. Discover the top gainers, decliners, and key market trends.

Why I Married Five Wives - Kano Yam Seller

Ibrahim Yahaya, a Kano man selling fried yam in Warri, reveals why he married five wives and how Tinubu's economic policies affect his business. Read his survival story.

1000 Law Students Get Anti-Money Laundering Training

Over 1,000 Nigerian law school students received crucial Anti-Money Laundering and Counter-Financing of Terrorism training in Abuja. This UK-supported initiative aims to equip future lawyers as financial system gatekeepers.

RMAFC Probes Electronic Transfer Levy 2019-2022

Nigeria's RMAFC investigates Electronic Money Transfer Levy disbursements from 2019-2022 to ensure transparency and accountability in revenue collection for all government tiers.

N20bn Money Laundering Case Adjourned to Dec 16

Federal High Court Lagos adjourns Taiwo Ibitola Taiwo's N20 billion money laundering case to December 16, 2025. The businesswoman faces fraud and conversion charges over family inheritance.

EFCC Arrests Archbishop for Naira Abuse

EFCC arrests Archbishop Angel Oyeghe for naira mutilation after viral video showed money sprayed on cow during church event. Suspect faces charges under CBN Act.

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