Explainers

Why EFCC’s prosecution of cyber criminals is actually counter productive

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The Economic and Financial Crimes Commission under its new chairman, Abdulrasheed Bawa has not arraigned any politically exposed persons and other Very Important Persons for money laundering and embezzlement of public funds instead, the commission has been vigorously chasing after cyber scammers and other petty criminals. And people are beginning to notice, Punch in an …

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Naira to Dollar Exchange Rate: difference between official rate and black market rate

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If you have ever transacted business in foreign currency in Nigeria, you must have noticed that there is a difference between the exchange rate you get at the official market and the rate you get at the black market (parallel market) – which has since been declared illegal market by the government. But why do …

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Why the eNaira digital currency is failing

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Nigeria’s President Muhammadu Buhari this week unveiled the eNaira, a Nigerian central bank issued digital currency that has been touted to woo the country’s tech savvy young population. The president boasted that the digital currency would add $29 billion to the country’s economy in 10 years. But barely three days since it went live, everything …

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eNaira Review: what is eNaira and how will the Nigerian digital currency work?

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The Nigerian government has concluded plans to issue its own digital currency. And understandably, this has left many Nigerians asking questions such as is Nigeria launching its own Bitcoin? Is the Naira going to be as valuable as the dollar? Are we now going to save our Naira on crypto exchanges?” In this explainer, we’ll …

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Why Germany is returning 1,130 stolen Benin artefacts back to Nigeria

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Germany has setup modalities to return 1,130 Benin artifacts stolen from the ancient kingdom to Nigeria from the beginning of 2022. German Minister of State for Culture, Prof. Moniker Grutters stated this during a high-level meeting with Nigerian government officials including the Minister of Information and Culture, Lai Mohammed, Edo state governor, Godwin Obaseki and …

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Buhari’s London trips, explained

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President Muhammadu Buhari’s latest trip to the UK has been postponed. “The medical follow-up visit of President Muhammadu Buhari to the United Kingdom which was scheduled for today, Friday, June 25, 2021, has been postponed,” Femi Adesina, the President’s aide on media and publicity wrote on Facebook. Adesina did not reveal any new date for …

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Can a VPN expose, steal money from your bank account?

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Virtual Private Network apps use have become popular among Nigerian youths, who use them mainly to circumvent the government’s ban on Twitter. Last month, Nigeria announced that it is suspending Twitter’s operation in the country after the company deleted one of president Buhari’s tweets for threatening violence against secessionists in the country’s southeast. Since then, …

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Canada immigration: Approved permanent residents may travel to Canada from June 21

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Any foreign national with approved Confirmation of Permanent Residence [COPR] can now travel to Canada from June 21, 2021. The Canadian government made this immigration announcement in a document shared with reporters. Foreign nationals must make sure their COPR is not expired for any individual planning to travel to Canada, the Canadian government announcement added. …

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Juneteenth, explained: the American Emancipation Day and Freedom Day

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Juneteenth has been celebrated in the US for over 150 years Juneteenth is one of America’s oldest holidays, marking the end of over 200 years of slavery inside modern day US. The struggle for official recognition has lasted nearly as long. Juneteenth has been celebrated on every 19 of June since as early as 1866. …

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