News
W/African Leaders Steal $300Bn from Treasuries’, Individuals
The West African sub-region is gaining notoriety as the money laundering capital of Africa with some $300 billion (about N45 trillion) reportedly siphoned by leaders and people entrusted with resources of the sub-region.
According to Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), member countries of Economic Community of West African States (ECOWAS), regional group of sixteen countries, founded in 1975 have laundered over $300 billion across ECOWAS countries since their independence.
Timothy Melaye, Information Manager of the organisation, told NAN in Lagos that available data showed that such money were stolen from individuals or looted from private and public treasuries.
“From GIABA’s investigations and available records, we discovered that over $300 billion have been laundered in different ECOWAS countries since their independence. We discovered that within the period, cash was transferred from one part of the region to another, without pictures of such account owners on the necessary fund transfer documents” He said
Melaye said that `which goes to show that money laundering went on under a different guise and for different purposes in the region, “ he said.
Melaye, however, noted that there was a `drastic reduction` in laundering activities in the region, in the last few years.
The Information Manager said that his organisation was currently working with financial institutions and the Financial Action Task Force, an International Intelligence outfit, in reducing the crime.
“Today, through our partnership with financial institutions in ECOWAS countries, the Swiss Embassy and other Inter-Governmental Agencies, we have been able to reduce money laundering in the region.
“We are, more importantly, presently working with banks, in checking the activities of terrorists’ sponsors.
“We believe that if sponsors of terrorism in the region have no money for arms, then there will be less of terrorist activities in West Africa, “ he said.
Melaye disclosed the organisation’s plan to increase awareness on laundering activities in the various countries
GIABA is a specialised institution of ECOWAS, established in 2000, to strengthen the capacity of member-states toward the prevention and control of money laundering and terrorists’ financing in the region.
News
UK–Nigeria Skills and Schools Trade Mission Concludes with Strong Foundations for Education Partnership

A high-level UK delegation has concluded a week-long skills and schools trade mission to Nigeria, marking a significant step forward in education and skills cooperation between the two countries.

Running from 19-23 April 2026 across Abuja and Lagos State, the mission brought together leading UK private schools, skills providers, and education institutions with Nigerian partners, schools, and the Honourable Minister of Education Dr Tunji Alausa.
The mission follows the high profile and well received state visit to the UK in March, which also included education engagements. Supported by the UK’s Department for Business and Trade (DBT), the mission forms part of its new International Education Strategy, under which Nigeria has been identified as one of five priority education markets, spearheaded by Professor Sir Steve Smith, who is looking forward to visiting the country again this year.
The mission focused on in-country delivery of education, the establishment of world-renowned UK schools in Nigeria, and the development of skills and Technical and Vocational Education and Training (TVET) systems aligned with industry demand.
In Abuja, the delegation met with Nigeria’s Honourable Minister of Education, Dr Tunji Alausa, securing strong political backing for UK–Nigeria education partnerships and set the groundwork for ongoing institutional collaboration across both schools and skills.
In Lagos, delegates engaged further with potential partners and investors. In both cities the delegation was thrilled to visit local British curriculum schools and colleges to further enable them to experience first-hand the teaching and learning environment.
British Deputy High Commissioner, Jonny Baxter, said: “The UK and Nigeria share a deep and longstanding relationship, and opportunities in education are one of its most exciting frontiers.
“This mission has demonstrated the strong appetite on both sides to deepen collaboration in education and skills.”
“By bringing together UK schools and skills providers with Nigerian partners and policymakers, we are laying the foundations for even more long-term partnerships that support Nigeria’s education priorities, strengthen skills aligned to industry needs, and create opportunities for sustainable, in-country delivery as well as positioning Nigeria as the regional hub for high quality education.”
DBT Head of International Education, Sarah Chidgey, said: “This mission is a perfect example of the International Education Strategy being put into action, building on multiple two-way visits and the UK and Nigeria’s warm relationship. It has been heartening to see all the progress in UK Nigeria education collaboration since my first visit to Nigeria, as part of a wider delegation, in 2022.”
DBT’s mission concluded with a strong pipeline of follow-up activity, including targeted one-to-one meetings, MoU discussions, and agreed next steps between UK and Nigerian counterparts.
News
Tinubu Seeks Senate Approval for $516m Sokoto-Badagry Highway Loan

President Bola Tinubu has requested Senate approval for a $516.3 million foreign syndicated loan to fund key sections of the Sokoto-Badagry superhighway, a cornerstone of his Renewed Hope Agenda.

Tinubu
In a letter read by Senate President Godswill Akpabio during Thursday’s plenary, Tinubu invoked Sections 16 and 21 of the Debt Management Office Act, 2011, to secure financing via Deutsche Bank AG for Sections 1, Phase 1A, and 1B. The 1,000-kilometre project will span Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos states, linking Illela to Badagry and boosting trade, connectivity, and goods movement.
The nine-year loan, with a three-year grace period and interest at SOFR plus 5.3 per cent, includes a partial risk guarantee from the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC). The Federal Government will provide over ₦265 billion in counterpart funding for land acquisition and infrastructure.
Akpabio referred the request to the Senate Committee on Local and Foreign Debts for a one-week turnaround report. He endorsed the borrowing, stating it advances road safety and national integration.
The highway aims to cut travel times and stimulate economic corridors, with the Federal Executive Council already approving the plan.
News
Karex, World’s Top Condom Maker to Hike Prices due to Iran war

Karex, world’s largest condom maker, plans to raise prices by up to 30 percent due to supply disruptions linked to the Iran war.

This means that safe sex could get more expensive if the war continues to disrupt global supply chains, according to Goh Miah Kiat, CEO, Karex.
Kiat told old Reuters that rising freight costs and shipping delays have increased demand and forced the company to pass costs to customers.
Broader supply chain issues and higher oil prices could impact many everyday products that rely on petrochemicals.
“The situation is definitely very fragile, prices are expensive… We have no choice but to transfer the costs right now to the customers,” Goh told Reuters.
Karex joins a growing list of companies that are bracing for supply chain disruptions amid the ongoing war in Iran.
Based in Malaysia, Karex produces condoms, personal lubricants, gloves, medical catheters and probe covers.
The company manufactures male latex condoms including ONE, Trustex, Carex and Pasante, and it can produce over 5 billion condoms annually. Karex also exports to more than 130 countries, according to its website.
“We’re seeing a lot more condoms actually sitting on vessels that have not arrived at their destination but are highly required,” Goh said.
General News3 days agoIshowSpeed’s African Tour was ‘Spy Job,’ for Elon Musk- Seun Kuti
Telecom3 days agoUniCloud Africa, Open Access Data Centres Announce Strategic Partnership to Strengthen Digital Sovereignty Across Africa
General News2 days agoBreaking News…Hackers Allegedly Expose EFCC Data, Operatives’ Identities
E-Financial3 days agoPolice Arraign First Bank Manager over Alleged Forex Fraud
E-Business2 days agoFCCPC Licenses 5 Firms for Airtime, Data Lending as Telcos Step Aside
E-Financial3 days agoPalmPay Hits 35m Users’ Milestone
General News3 days agoUS Library Blames Hackers for Viral Posts Urging Violence in Nigeria
News3 days agoUK-Nigeria Trade Mission Builds on State Visit Momentum to Drive Commercial Outcomes



















