General News
FG Deport 192 Foreign Nationals Convicted of Cybercrimes

Economic and Financial Crimes Commission (EFCC) has in collaboration with other agencies deported another batch of 51 foreign nationals convicted of cyber-terrorism, internet fraud, and related financial crimes in Lagos.

Ola Olukoyede – Chairman, EFCC
Dele Oyewale, spokesperson, EFCC, said this in a statement on Sunday in Abuja.
Oyewale said the exercise was jointly carried out by the anti-graft agency with the Nigerian Immigration Service (NIS) and the Nigerian Correctional Service (NCoS).
According to him, the final batch of 51 convicts, including 50 Chinese nationals and one Tunisian, brings to 192 the number of foreigners convicted of financial crimes in Lagos state to a close.
He said that the last batch of deportees left Nigeria on Oct. 16.
“The deportation exercise followed the arrest and successful prosecution of 759 suspects during a major sting operation conducted by the EFCC on Dec. 10, 2024, at Oyin Jolayemi Street, Victoria Island, Lagos.
“The deportation exercise, which began on Aug. 15, followed the conviction of the offenders by the Federal High Court in Lagos for offences bordering on cybercrime, money laundering, and ponzi scheme operations.
“The first batch of 42 convicts, comprising Chinese and Filipino nationals, was deported on Aug. 15; subsequent batches followed throughout August and September,” he said.
According to him, the deported convicts include nationals of China, the Philippines, Tunisia, Malaysia, Pakistan, Kyrgyzstan, and Timor-Leste.
They were deported in coordinated batches between August and mid-October 2025, in accordance with court directives and immigration procedures.
“All the deported convicts bagged their imprisonment when they were arrested with their Nigerian accomplices believed to be members of a sophisticated cybercrime and ponzi scheme syndicate.
“The syndicate was said to be operating under the cover of Genting International Co. Limited.
“The operation, based on credible, actionable intelligence, and subsequent investigations, confirmed that the convicted foreigners were involved in large-scale online fraud, identity theft, and cyber-enabled Ponzi schemes.”
General News
Taraba Adopts Electronic Case Management System
Taraba State in Nigeria has developed an electronic platform for filing criminal cases in the state’s High Courts, marking the implementation of the new National Case Management System.
![]()
The launch, announced on Monday, marks a move from manual to electronic filing of criminal cases and is part of attempts to reform court processes and expand access to justice using technology.
Governor Agbu Kefas stated that the action underlines the government’s dedication to institutional strengthening, the rule of law, and effective governance.
Kefas pledged continued government support for the judiciary, noting that technology is essential for delivering swift, fair and transparent justice.
He also stated that the state would give the resources and infrastructure required to maintain the ongoing judicial reforms.
Justice Joel Agya, Chief Judge of Taraba State, stated that the e-filing facility will enable the electronic filing of originating processes and subsequent applications.
He explained that the system would enhance case tracking from filing to final determination while reducing delays caused by manual registry procedures.
Justice Agya went on to say that the platform would improve the security and accessibility of court records, as well as help judges manage dockets and time better.
He emphasised that the platform is intended to supplement rather than replace judicial decision-making, ensuring that administrative procedures do not impede the delivery of speedy justice.
The development is consistent with a broader national push to digitalise judicial processes across Nigerian courts, which has already been implemented in several regions.
General News
Cybersecurity Firm Detects a Wave of Crypto Phishing Following BlockFi Bankruptcy

Kaspersky has detected a wave of phishing attacks preying on former customers of the bankrupt crypto lending platform BlockFi.

These scams leverage the ongoing distribution of customer assets following BlockFi’s 2022 bankruptcy, tricking victims into surrendering cryptocurrency wallet seed phrases, potentially leading to financial losses.
BlockFi, once a prominent provider of high-yield interest accounts and crypto-backed loans, announced bankruptcy in November 2022. The company began disbursing repayments to affected clients in 2024 as part of its restructuring plan.
Kaspersky has detected fraudulent emails mimicking BlockFi’s official branding, which falsely invite recipients to “claim the payment” they are “entitled to.” After clicking on the link, users land on a phishing page and are prompted to “connect their wallet”.
The attackers suggest that users import their existing wallet by typing in the secret phrase – this grants attackers direct access to the funds in the victim’s wallet.
“Phishing attacks like this are widespread, capitalising on real-world events to build trust and urgency. Victims who fall for these scams risk exposing their crypto wallets to theft. It’s critical for individuals to verify any communications directly through official channels and to check the address from where the email originates for legitimacy,” comments Roman Dedenok, anti-spam expert at Kaspersky.
The phishing emails feature convincing logos, colour schemes, and language, making them difficult to spot at first glance. Kaspersky recommends the following steps to avoid falling victim to this or similar scams:
- Do not click on links or respond to unsolicited emails.
- Protect Sensitive Information: Never share banking credentials, wallet seed phrases, or other private keys in response to an email or online form.
- Use Security Tools: Enable two-factor authentication (2FA) on all financial accounts, employ reputable security software like Kaspersky Premium, and consider using a password manager to safeguard credentials.
General News
Universal Insurance to Raise N15bn to Meet Capital Rules
Universal Insurance Plc has secured the approval of its shareholders to raise additional capital of N15 billion through a proposed recapitalisation exercise, as the insurer intensifies efforts to strengthen its balance sheet and position the company for long-term sustainability.
![]()
The approval will be granted at an Extraordinary General Meeting (EGM) scheduled for February 5, 2026 in Lagos.
Currently, Universal Insurance’s share capital stands at N8 billion, with 16 billion ordinary shares held by existing shareholders on the NGX. The board is seeking to revalidate, authorise, and regularise 14 billion unissued ordinary shares for the planned capital raise and also secure approval to list and admit the new shares for trading
Following resolutions passed at the Extraordinary General Meeting (EGM), Universal Insurance Plc is moving forward with a comprehensive recapitalisation programme aimed at reinforcing its capital base and improving its capacity to underwrite larger and more diversified risks.
Shareholders approved the plan to raise new equity through a combination of capital market instruments, subject to regulatory approvals, as part of efforts to meet industry capital requirements and support future growth.
Gross premium written rose to N18.59 billion, up from N12.29 billion a year earlier, driven by increased underwriting activity across key insurance segments. Insurance revenue also grew to N14.68 billion, compared with N9.85 billion in the prior period, reflecting stronger risk acceptance and improved pricing discipline.
Despite higher insurance service expenses, the company posted an insurance service result of N1.13 billion, while net investment income surged to N2.79 billion, supported largely by fair value gains on financial assets. As a result, net insurance and investment income increased to N5.18 billion, nearly double the N2.61 billion recorded in the same period of 2024.
On the balance sheet, total assets expanded to N21.82 billion as at September 30, 2025, from N18.14 billion a year earlier, supported by growth in financial assets and investment properties. Shareholders’ funds rose to N14.38 billion, up from N12.33 billion, reflecting improved profitability and reserve accumulation.
Investors have also responded positively to Universal Insurance’s performance, with its stock delivering an 83.33 percent return in 2025, rising from N0.66 to N1.21 per share, and trading volumes exceeding 6 billion shares.
The recapitalisation initiative, combined with the improving financial performance recorded in Q3’25, underscores Universal Insurance Plc’s determination to reposition itself as a more resilient and competitive player in Nigeria’s insurance industry.
The company aims to deliver improved value to policyholders, investors, and partners, while supporting broader economic activity and generating sustainable returns for shareholders.
E-Financial2 days agoHere Are Nigerian Banks That Have Secured Their Licences
Telecom2 days agoMTN CEO Toriola Hails Nigeria’s Telecom Transformation at MIPAD
E-Financial2 days agoZenith Bank Top Nigerian Bank Pick Ahead of GTCO, AccessCorp
News2 days agoICPC Charges Ozekhome with Forgery, Corruption Over London Property
E-Financial2 days agoNigeria Processed $92.1Bn Crypto Transactions in 12 Months — PwC
E-Financial2 days agoHow Crypto Criminals Stole $700m from People – often Using Age-Old Tricks
Telecom2 days agoLebara Launches Agent Registration Portal
E-Business2 days agoElon Musk Seeks $134Bn from OpenAI, Microsoft for ‘Wrongful Gains’


















