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Emefiele Now Central Bank Governor In-Waiting

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Godwin Emefiele is now the next Governor of the Central Bank of Nigeria (CBN) in-waiting following Senate confirmation of his appointment on Wednesday.

Emefiele will resume in June when the tenure of Sanusi Lamido Sanusi, the suspended Central Bank Governor, expires.

 The president nominated Emefiele, current managing director of Zenith Bank, as the new CBN boss upon suspension of Sanusi in February.

Sanusi was suspended for alleged financial recklessness although many believe his suspension is due to his exposure of corruption in the petroleum industry.

Emefiele’s profile as published on Zenith Bank’s website reads thus:

“He is the Group Managing Director, Zenith Bank Plc, a position he has held since August 2010. Until then he was the Deputy Managing Director of the bank, having been appointed into that position in 2001.

“Emefiele has been on the bank’s management team since inception and has held various management positions in the bank, including serving as the Bank’s Executive Director in charge of Corporate Banking, Treasury, Financial Control and Strategic Planning.

“Until he took over as Group Managing Director, Emefiele was directly responsible for all the Group’s local subsidiaries, Treasury and Correspondent Banking, and Multilateral, Conglomerates, & Private Banking. He also had responsibilities for direct supervision of majority of the bank’s branches in Lagos and Northern Nigeria.

“Emefiele has over twenty-six (26) years banking experience and holds a B.Sc and an MBA in Finance both from the University of Nigeria Nsukka. Before commencing his banking career, he lectured Finance, Bank Management, and Insurance at the University of Nigeria and University of Port Harcourt respectively.

“He is an alumnus of Stanford University, Harvard and Wharton Graduate School of Business where he took courses in Negotiation, Service Excellence, Critical Thinking, Leading Change and Strategy.

“Under Emefiele’s leadership, Zenith Bank has strengthened its position as a leading financial institution in Africa, winning recognition and getting endorsement at home and abroad for giant strides in key performance areas like corporate governance, service delivery and deployment of cutting-edge ICT as well as impact in the bank’s numerous spheres of operations.

“In 2012, Emefiele’s visionary leadership saw Zenith Bank receiving acclaim from reputable institutions such as world finance, CFI and FTSE Global Markets that have named Zenith the Best in Corporate Governance, Best Commercial Bank in Africa, and Emerging Global Super brand respectively.”


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General News

Nnaji, Former Minister Seeks Out-of-court Settlement over Certificate Forgery Allegations

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Nnaji, Former Minister Seeks Out-of-court Settlement over Certificate Forgery Allegations

Uche Nnaji

Uche Nnaji, former minister of Science, Innovation and Technology, has indicated interest to settle out of court with the University of Nigeria, Nsukka, and other parties in a certificate forgery dispute.

This was disclosed on Monday during proceedings before Justice Hauwa Yilwa of the Federal High Court Abuja, where the suit came up for hearing of pending applications.

Nnaji had approached the court in October 2025, following an investigation by Premium Times, alleging that the minister had forged his first degree and National Youth Service Corps certificates.

The report further faulted the minister for submitting the forged documents to President Bola Tinubu and the Senate during his ministerial screening.

Nnaji had subsequently resigned his position as minister following widespread controversy, stating that he did not want the issue to become a distraction from the activities of the administration.

The case has, however, stalled at the courts since it was instituted, due to procedural setbacks including issues relating to the service of court processes and multiple preliminary objections filed by the defendants.

When the matter was called on Monday, Ope Muritala, counsel to Nnaji,  informed the court that although the case was slated for a hearing of pending applications, there was a fresh development, adding that parties were exploring an amicable resolution, requesting an adjournment to enable negotiations to continue.

“There is a new development as parties are exploring an out-of-court settlement,” he told the court.

P.C. Ike and N.H. Obah, lawyers representing the first (Minister of Education) and second (National Universities Commission) defendants, told the court they were not previously aware of the settlement discussions until they arrived at the court, but did not oppose the request for an adjournment to allow the talks to proceed.

Meanwhile, counsel to the third to seventh defendants, including the UNN and its principal officers, Chidubem Ugwueze, however, confirmed that the move towards settlement had been communicated earlier.

He told the court that a Senior Advocate of Nigeria, Chris Uche, who is leading the defence team, had informed him of the development.

According to him, the information originated from another Senior Advocate, Wole Olanipekun, representing Nnaji.

Although he did not object to the proposed settlement, Ugwueze urged the court to proceed with hearing the defendants’ pending motion for regularisation in the event that settlement talks collapse.

However, Justice Yilwa declined the request, stating that it would be more appropriate to consider such applications only if the out-of-court resolution efforts fail.

In view of the parties’ disposition, the court adjourned the matter to July 8, 2026, for report of settlement or continuation of proceedings.


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E-Business

Nigeria @ Risks Losing Digital Control- NiRA

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Nigeria is at risks losing digital control of its cyberspace following the alarming surge in cyberattacks in the country.

Nigeria @ Risks Losing Digital Control- NiRA

The surge show a dangerous shift from opportunistic cybercrime, facing approximately 4,710 threats weekly and ranking as a top target for cybercriminals in Africa.

Nigeria Internet Registration Association (NiRA) recently warned that the trend weakens the country’s control over its digital identity and limits economic gains from its expanding online ecosystem.

Speaking at the .ng Media Advocacy and Capacity Building Initiative for the Nigerian Information Technology Reporters Association (NITRA), organised by NiRA in Lagos, Adesola Akinsanya, president, NiRA, questioned who truly owns Nigeria’s digital presence, stressing that the answer lies in deliberate choices regarding domain name adoption and the narratives shaping the country’s digital ecosystem.

He likened the widespread adoption of foreign domains to building assets on land owned by others, where control, legal authority, and economic benefits ultimately reside outside the country.

According to him, many Nigerian businesses operating on domains such as .com are effectively anchoring their digital operations on infrastructure beyond national control.

Industry stakeholders at the event noted that while Nigeria’s digital economy continues to expand driven by increasing internet penetration and a vibrant tech ecosystem a significant portion of the value generated is lost through payments tied to foreign domain registration and hosting services.

Seyi Onasanya, chief operating officer, NiRA,  described domain names as “digital real estate,” emphasizing their role as a foundational layer of the modern economy.

She stated that countries that prioritise local domain systems are better positioned to retain value, strengthen trust, and enhance digital competitiveness.

Onasanya added that although country-code domains account for nearly 40 percent of global domain registrations, Nigeria still records relatively low adoption of its .ng domain despite its large population and millions of small and medium enterprises.

Experts at the forum warned that dependence on foreign domains contributes to capital flight, weakens national branding, and exposes businesses to external regulatory risks.

They stressed that every domain name represents a potential economic asset linked to transactions, jobs, and overall GDP growth.

Beyond economic implications, speakers highlighted trust and security as critical issues.

Ridwan Badmus, legal and cybersecurity expert, noted that Nigeria’s regulatory framework is evolving to support a more secure digital environment, including policies encouraging government institutions to adopt local domains and hosting services.

He explained that the .ng domain benefits from enhanced security features such as DNS Security Extensions (DNSSEC) and improved monitoring systems, which strengthen resilience against cyber threats.

 


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E-Business

CIBN Allegedly Hit by 250GB Data Breach

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Data Breach
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Chartered Institute of Bankers of Nigeria (CIBN), the country’s apex professional body for bankers, is reportedly at the centre of a major cybersecurity incident following claims that its internal database estimated at about 250GB has been compromised and leaked online by an unidentified threat actor, according to the Guardian.

CIBN Allegedly Hit by 250GB Data Breach

The alleged breach, which surfaced recently on underground cybercrime forums, is said to involve a wide range of sensitive institutional and personal data belonging to members of the banking profession.

According to preliminary assessments of sample files circulating online, the exposed information reportedly includes full names, email addresses, phone numbers, residential and business addresses, membership records, scanned identification documents, certificates, and even internal source codes linked to digital systems.

While the authenticity of the full dataset has not been independently verified, cybersecurity observers note that the scale of the alleged leak is consistent with a growing pattern of attacks targeting financial institutions and professional bodies across Nigeria’s banking ecosystem.

Chartered Institute of Bankers of Nigeria, established in the early 1960s and chartered to regulate banking professionalism in the country, plays a central role in setting ethical and educational standards for bankers nationwide.

It counts major financial institutions, including the Central Bank of Nigeria and commercial banks, among its corporate members.

In recent years, the institute has itself acknowledged rising cyber risks affecting the financial sector, warning that banks and related institutions face increasing exposure to digital attacks, including website hijacking, ransomware threats, and data breaches targeting sensitive financial information.

This latest allegation adds to a series of reported cyber incidents involving Nigerian financial institutions, where attackers have increasingly focused on exploiting personal data for identity theft and phishing schemes.

Cybersecurity analysts say Nigeria has witnessed a broader surge in data breaches across banking, telecoms, and government systems, with millions of records reportedly circulating on the dark web in recent years.

The alleged CIBN breach, if confirmed, would further highlight vulnerabilities in institutional data protection frameworks and the growing sophistication of cybercriminal operations targeting financial ecosystems.

However, CIBN has not issued an official confirmation or denial regarding the alleged breach.

But, the need for immediate forensic investigation, member notification protocols, and a comprehensive audit of the institute’s digital infrastructure cannot be overlooked.

Authorities and data protection regulators are also expected to assess the claims as part of broader efforts to curb escalating cyber threats within Nigeria’s financial services sector.


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