Connect with us

Uncategorized

Nigeria Removed from European Union’s Financial High-Risk List

Published

on

Fabian Apechihin

Nigeria has been removed from the European Union’s list of high-risk jurisdictions, a move expected to improve trade, financial transactions, and investment flows between the country and Europe.

The European Commission confirmed the decision on Wednesday, according to a report by Business Insider. Nigeria was delisted alongside South Africa, Burkina Faso, Mali, Mozambique, and Tanzania.

In a statement, the commission said the affected countries had strengthened their anti-money laundering and counter-terrorism financing (AML/CFT) frameworks and no longer posed “strategic deficiencies” under the EU’s assessment criteria. It added that the reforms brought their financial systems in line with international standards set by the Financial Action Task Force (FATF).

Reacting to the development, the Minister of State for Finance, Doris Uzoka-Anite, described the decision as a significant boost to investor confidence. Writing on X on Thursday, she said: “Big win for Nigeria! Removed from EU’s financial ‘high-risk’ list! Congrats to President Bola Ahmed Tinubu on this achievement. As minister of state for finance, I’m proud of this boost to trade and investor confidence.”

Nigeria’s removal from the list marks a major shift from its previous status, which subjected transactions with European partners to enhanced due diligence and stricter documentation requirements. That designation had increased scrutiny of Nigerian banks and businesses, often slowing cross-border trade and complicating investment processes.

Analysts say the delisting could help improve Nigeria’s access to European financial markets, reduce transaction costs, and strengthen confidence among foreign investors.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Uncategorized

Published

on

Suwaiba Said Ahmad has announced that the 2026 Policy Meeting on Admissions into Tertiary Institutions will be the final one to be hosted by the Registrar of the Joint Admissions and Matriculation Board, Is-haq Oloyede.

Speaking during the meeting held in Abuja on Monday, the minister praised Oloyede for his decade-long leadership of JAMB, describing his tenure as transformational.

“This is the last policy meeting you will be holding. He has been here for ten years. He has done a lot of good things. Ten years is a long time but he is not tired,” she said.

“Notwithstanding, we thank you very much. Definitely, you are not tired. We will just give you a resting period to relax a bit and then we will just call you back.”

Oloyede was appointed JAMB Registrar on August 9, 2016, and is widely credited with reforming the board’s operations and financial system within a few years of assuming office.

Under his leadership, JAMB’s remittances to the Federal Government increased significantly. While the board reportedly remitted less than N50 million between 1978 and 2016, it generated and remitted N7.8 billion in 2017 alone.

Between 2016 and 2026, JAMB reportedly remitted N20.7 billion in operating surplus while also funding infrastructure and staff development projects through internally generated revenue.

The improved financial performance also enabled the Federal Government to reduce application fees for tertiary institution admissions by 30 percent.

Before joining JAMB, Oloyede served as Vice-Chancellor of University of Ilorin from 2007 to 2012. He also chaired both the Association of Vice-Chancellors of Nigerian Universities and the Committee of Vice-Chancellors between 2011 and 2012.

A professor of Islamic Studies since 1995, Oloyede has published nearly 100 academic papers and attended several international conferences.

His contributions to public service and education have earned him several honours, including the Officer of the Federal Republic (OFR) in 2014, the Commander of the Order of the Niger (CON) in 2022, the National Productivity Order of Merit Award in 2019, and the Nigeria Excellence Award in Public Service in the Education category in 2022.

Oloyede, who is 71 years old, is married and has four adult children and grandchildren.

Continue Reading

Uncategorized

Hyacinth Alia has congratulated the James Iorzua Ayatse on the occasion of his 79th birthday anniversary.

Published

on

By: Fabian Apechihin

In a statement issued by the governor’s Chief Press Secretary, Tersoo Kula, Alia described the Tor Tiv as a respected traditional ruler, scholar, statesman, and patriot whose wisdom, courage, and dedication to peace, justice, and the preservation of Tiv cultural heritage continue to inspire people across Benue State and beyond.

The governor praised the monarch for his fatherly role in promoting unity, peaceful coexistence, and constructive dialogue among the various ethnic groups in the state.

He also noted that the Tor Tiv, also known as the Begha U Tiv, has continued to uphold the dignity and honour of the traditional institution through exemplary leadership and service.

Governor Alia further prayed for God’s continued blessings upon the royal father, asking for more years of good health, strength, wisdom, and grace as he continues to provide leadership to the Tiv Kingdom and the Benue State traditional institution.

Continue Reading

Uncategorized

The official vehicle of Sesoo Gboko has reportedly been snatched by armed men in Abuja.

Published

on

By: Fabian Apechihin

In a statement released by the lawmaker’s Senior Legislative Aide, Bem Adzaagee, the incident occurred around the Gudu area of the Federal Capital Territory.

According to the statement, the yet-to-be-identified gunmen forced the lawmaker’s driver to hand over the vehicle while he was parking at a public location in the area.

“The gunmen compelled the Honourable Member’s driver to surrender the vehicle to them as he parked at the car park of a public place in the Gudu area of the Federal Capital Territory and was making his way into the premises,” the statement read.

It added that the driver had just returned from an errand and had gone to pick up the lawmaker, who was attending meetings at the location.

Adzaagee confirmed that neither the driver nor anyone else at the scene was harmed during the incident.

He also praised the prompt response of security agencies, stating that efforts were already underway to track down the stolen vehicle and apprehend those responsible.

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.