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FIRS To Host Conference on Illicit Financial Flows July 22 and 23

Dr Zacch Adedeji,  Executive Chairman/CEO,  FIRS 

The Federal Inland Revenue Service (FIRS) has concluded plans to host a two-day national conference on Illicit Financial Flows (IFFs) in its efforts to safeguard Nigeria’s financial integrity through tackling the menace which adversely impacts revenue collection.

According to a statement by Dare Adekanmbi, Special Adviser on Media to the FIRS chairman, Dr Zacch Adedeji, the conference will be held between July 22 and 23.

The high-level gathering has the theme “Combating Illicit Financial Flows: Strengthening Nigeria’s Domestic Resource Mobilisation,” and will be held at the Transcorp Hilton Hotel, Abuja.

The statement said the conference will serve as a platform for reflection on actionable solutions, reinforcing the Federal Government’s commitment to protecting financial integrity and ensuring that domestic revenue is fully harnessed for national development.

The event will bring together experts from various fields, including policymakers, tax administrators, law enforcement agencies, anti-corruption agencies, financial experts, and international stakeholders.

A key member of the United Nations High Level Panel on IFFs, also known as the FACTI Panel, Honourable Irene Ovonji-Odida, will deliver a keynote address, while the Minister of State for Finance, Dr Doris Uzoka-Anite, will chair the conference.

The statement quoted Adedeji as saying that the conference will spotlight the agency’s “intensified efforts in tackling IFFs, including strengthening compliance mechanisms, enhancing beneficial ownership transparency, and leveraging technology to detect and deter tax evasion, trade mispricing, and other illicit outflows.”

“Before now, we have set in motion machinery to tackle IFFs by approving capacity building programmes for staff members of the agency on how to identify and block IFFs, and to increase revenue collection from the multinational corporations.

“In sustaining this, we also approved the establishment of Proceeds of Crime Management and Illicit Financial Flows Coordinating Directorate (POCM-IFF), which is pivotal to addressing the menace. Taxes play a very strategic role in the nation’s economy.

“Before now, the Federal Government of Nigeria had established an Inter-Agency Committee on Stopping IFFs from Nigeria in its efforts to curb the illicit flows. The committee comprises FIRS, Nigerian Financial Intelligence Unit, Independent Corrupt Practices and Other Related Offences Commission, Economic and Financial Crimes Commission, Nigeria Customs Service, Central Bank of Nigeria, and Securities and Exchange Commission, among others.

Ovonji-Odida, has expressed the hope that the conference will result in increased understanding of IFFs and commitment to action which is needed to curb it.

Online Poster by — July 14, 2025 in News 0
Philanthropist Urges Wealthy People To Help The Poor To Reduce Hunger

By Chikaodi Chukwuleta
A philanthropist,  Joseph Ilo, also known as Ugogbuzue, from Obe Village, in Anaocha Local Government Area of Anambra State, has called on wealthy individuals to assist the poor and less privileged in the society.
Addressing newsmen in his hometown, Agulu, he expressed concern over the high rate of hunger and its impact on the community.
Ilo highlighted his own efforts to support people within his reach, particularly the youth and shared his personal experiences, including spending approximately N37 million to help individuals who had their lands grabbed due to lack of legal representation.
 He emphasized his distaste for intimidation and harassment of people, especially when it comes to land grabbing.
The philanthropist recalled a recent initiative where he invited medical professionals from outside the country to provide treatment to children in his community, adding that he empowered youths by providing shuttle buses, paying school fees, and offering housing support.
He advised the youth to remain focused and avoid get-rich-quick schemes. He urged the federal government to create jobs and alleviate the sufferings of the masses, noting that many people are struggling and dying due to poverty.
By sharing his story and concerns, Joseph Ilo hopes to inspire others to join him in making positive impacts on their communities.
Online Poster by — July 12, 2025 in News 0
We’ll Bring Governance Closer To Ndị Anambra* – Ukachukwu 

By Chikaodi Chukwuleta
Prince Nicholas Ukachukwu,  the gubernatorial candidate  of All Progressive Congress ( APC), has said he would bring governance closer to Ndi Anambra if elected on November 8.
Speaking during his thank you visit of the 21 local government areas at Ogbaru LGA, where he inaugurated 27-man campaign council  with a selected chairman from the support groups and local government  area (LGA) chairman of APC, he highlighted major issues confronting the state such as insecurity, saying that he  will bring a lasting solution that.
He explained that the council  shall comprise all the stakeholders, reach wards to have 400 canvassers that will fill forms that will be screened,   ratified, and be entitled  to monthly payment from July 2025 till the end of campaign.
 He promised the people of Ogbaru that he will construct Ogwuikpere Road  and advised them to take advantage of the voter registration exercise to enable them vote for APC for the good of the state and Ndị Anambra.
Party chieftains of APC Bar. Chukwunonso Nwaebili, Nkechi lsamade, and Calista Nwachukwu, said that Soludo has failed  and disappointed the state, adding that APC has brought hope and succour  to save the massess.
Ukachukwu’s running mate, Senator Uche Ekwunife said that their administration, if elected, would touch the lives of the people including  Ogbaru LGA, adding that insecurity will be tackled.
Online Poster by — July 12, 2025 in News 0
UNDP Offers Strategic Partnership With Enugu State

UNDP hails Gov Mbah's bold vision, offers strategic partnership with Enugu - Freedom Square TVLarryBravo Nwaiwu
The United Nations Development Programme (UNDP) has pledged continued partnership with the Enugu State Government in driving transformative development, praising Governor Peter Mbah for his bold and visionary leadership that is setting new standards for inclusive growth and development in Nigeria and beyond.
This commitment was made on Thursday when the UNDP Resident Representative in Nigeria, Ms. Elsie Attafuah, paid a working visit to Governor Mbah at the Government House, Enugu, where they  discussed deepening collaboration in areas such as education, healthcare, digital economy, energy, innovation, and trade.
Ms. Attafuah extolled Mbah’s ambitious development roadmap, highlighting the recent launch of Enugu Air as a powerful symbol of regional integration and global connectivity.
“We are delighted to see the bold and ambitious plans you have for Enugu State. The launch of Enugu Air is a bridge we do not take for granted. It connects Enugu to Nigeria, Africa, and the rest of the world. Thank you for this bold leadership,” she said.
She lauded Mbah’s Smart Green School initiative as a model for climate-smart education, adding that it aligned strongly with UNDP’s Integrated Smart State Offer, a development blueprint emphasizing innovation, digitalization, and resilience.
“You are bringing inspiration to Nigeria, to Africa, and to the world. Your goal to grow the state’s GDP to $30 billion by 2030 is laudable, and we are here to support you”, she stated.
She disclosed UNDP’s plans to create a University Innovation Network across Nigeria, including Enugu, with facilities such as 3D printers, CNC machines, and enterprise hubs to help young innovators to turn ideas into businesses, adding that community level innovation centers and energy partnerships would also support local entrepreneurship and address structural development challenges.
Citing examples of successful initiatives in other parts of the country, she emphasized the importance of energy access, saying, “Without reliable power, industrialization, health, and education will stall.”
“That is why we are keen to support states like Enugu with mini-grid solutions and energy resilience,” she added.
On trade and tourism, Attafuah stressed that Enugu’s strategic location and entrepreneurial population made it ideal for regional leadership in the African Continental Free Trade Area (AfCFTA), citing the recent UNDP trade corridor deals with Ugandan Airlines that cut export costs by 50 per cent for Nigerian SMEs, and said that Enugu could benefit from similar frameworks.
“Tourism is a billion dollar industry that can drive jobs and prosperity. If a tourist stays one week, they’ll buy local snacks and that means someone has earned a living. We must start seeing the full value chain”, she added.
She also proposed timmediate collaboration on teacher deployment, saying UNDP could provide thousands of tech-savvy graduate volunteers to support Enugu’s Smart Schools initiative at no cost to the state.
Responding, Governor Peter Mbah expressed strong enthusiasm for the partnership, describing UNDP’s offer as both timely and in alignment with his government’s core priorities.
“This is a case where preparedness meets opportunity. We realized from the beginning that to grow our economy and tackle insecurity, we must invest heavily in human capital,” he stressed.
He outlined his administration’s investments in 260 Smart Green Schools, each equipped with digital boards, robotics labs, ICT hub, and staffed by trained teachers, as part of a broader education reform that emphasizes experiential learning from infancy.
“We’re not just building classrooms; we are creating creativity hubs where kids can begin solving real life problems from primary one. We are moving away from rote learning to problem-solving and innovation-driven learning,” he stated.
Governor Mbah said that by September, the state would be feeding over 300,000 schoolcchildren daily, providing each school with a health facility and registered nurse for routine health checks, vaccines, and nutrition support.
On healthcare, the Governor noted that 260 Type-2 Primary Healthcare Centres were also under construction in each political ward in the state to ensure universal access, stressing that no  community was left behind.
“Inclusivity is the philosophy that underpins our programs. No child in Enugu, rural or urban, will be left behind”, he said.
He also echoed UNDP’s emphasis on digital skills and innovation, highlighting the state’s plans to train 40,000 youths in tech-based outsourcing and practical trades like fashion design, supported by infrastructure such as a digital industrial park and garment Hubs.
“We don’t want our youths to japa physically; we want their skills to japa. They should stay in Nigeria, earn globally, and contribute locally,” the governor emphasized.
Mbah said his administration was intentional about transforming Enugu into a $30 billion economy by building the right enablers, from education and healthcare to infrastructure and aviation, adding: “The launch of Enugu Air is part of our strategy to restore Enugu’s pre-eminence as a regional hub for travel, trade and tourism. We are building a five-star hotel, revitalizing our waterfalls and other tourism assets, and targeting three million visitors annually.”
Online Poster by — July 12, 2025 in News 0
Empowering Women At Work: How Union Bank’s Family-Friendly Revolution Is Setting New Standards

Amaka Obiefuna
Union Bank of Nigeria stands at the forefront of the nation’s financial sector, leading the charge in promoting gender inclusivity and empowering women.
With a rich legacy of innovation and dedication, the Bank is actively creating a more equitable and supportive environment for women, both within its own workforce and across the wider Nigerian community.
Recently honoured as the ‘Family-Friendly Bank of the Year’ by The New Telegraph, Union Bank is raising the bar with progressive policies for customers and employees alike.
Through its Alpher initiative, the Bank is investing in the future of female students, entrepreneurs, and professionals throughout Nigeria.
Alpher offers bespoke financial services, career and business development opportunities, and exclusive lifestyle benefits designed to help women thrive.
Union Bank’s strategic collaborations, such as its sponsorship of the Nigerian British Chamber of Commerce (NBCC) Women and Youth Entrepreneurship Development Centre (WYEDC) programme, have enabled numerous entrepreneurs to graduate, access vital training, and secure grant opportunities.
Within its own ranks, Union Bank set a new benchmark with a five-month fully paid maternity leave, complemented by the option to take annual leave.
This policy, aligned with the United Nations SDG 3: ‘Good Health and Well-Being’, ensures that employees have the time and support they need to recover and bond with their families.
The Bank’s internal women’s network, WeHub (Women Empowerment Hub), regularly hosts insightful events and discussions focused on bridging the digital gender divide and advancing the careers of female employees.
Demonstrating further commitment to working parents, Union Bank has established a state-of-the-art Crèche at its Head Office in Marina, Lagos Island.
Equipped with lactation rooms and family-friendly facilities, this initiative directly supports SDG 5: ‘Gender Equality’, enabling women to balance their professional and family responsibilities in a truly inclusive workplace.
Union Bank’s comprehensive approach to gender inclusivity and empowerment solidifies its status as an industry leader, fostering a supportive internal environment while championing the advancement of women across multiple sectors.
Be part of this journey towards a more equitable and prosperous Nigeria; choose Union Bank, where empowerment and progress go hand in hand.
Online Poster by — July 11, 2025 in News 0
Solution Witness Pays Courtesy Visit To Idemili South Mayor, Hon Amaka Obi

By Chikaodi Chukwuleta
The Solution Witness Support Group on Wednesday, 9th, 2025 paid a courtesy visit to the Executive Chairman of Idemili South Local Government Area, Hon Mrs Amaka Obi, (Iyom Idemili.)
The visit was to align with the Chairman and brainstorm strategies to canvass vote for the Solution Governor, Professor Chukwuma Charles Soludo’s re-election bid come November, 8th, 2025.
Speaking  during the visit, Anambra State Chairman Solution Witness Support Group, Sir Felix Okechukwu informed  Iyom that the motive of the visitation was to sensitize her about the group activities and also deliberate on the way forward for the people of Idemili South to vote for Mr Governor.
He said that the Solution Witness spread across the 21 local government  down to the ward level is mandated to ensure that Soludo’s vote counts and secured.
Corroborating with the mayor, Hon Tambo stressed the need to place visible structures that the governor will be proud  of. He noted that strategies have been in place to ensure that the group is poised towards delivering the mandate of Mr Governor. “We are already pulling back those who left the party because of one grievances or the other and we cannot do it alone, every hands must be committed.” He concluded. “
 Mayor Rt Hon Amaka Obidigbo (Idemili South) in her response appreciated the soludo witness support group for finding time to pay her a visit and discuss some pertinent issues in the state. She noted that there is need to enhance grassroot membership. Adding that she believes in inclusive leadership where all hands are on Deck.
She assured that the council will work with the Solution Witness Member at the ward level noting that the ward structures should be active and ready to deliver in their various polling units.
She charged the members not to be discouraged or intimidated by any politician, but be steadfast and confident that the works done for” our dear party APGA and Governor Soludo will be rewarded.
In his remark, State Secretary – Hon Tempest Udeze thanked the mayor for the opportunity to deliberate on rallying campaign for Mr Governor, come Nov, 8th, 2025. He charged them to transfer the learnings acquired during the course of the training to others by applying the principle of One -Teach-One approach for more human development.
Highpoint of the visit culminated into the inspection of over five hundred trainees undergoing the Idemili South empowerment programme where the Mayor was given the name Olu Atua Egwu of Idemili South.
Among dignitaries present were the Group’s Deputy National Leader – Hon Ebelechukwu Igboekunie Ngini, State women leader Amb Angel Umolu, Zonal Women Leader – Idigacholu and the Group’s Media Head/Cordinator, Comrade Uchenna Ezeadigwe, among others.
Online Poster by — July 11, 2025 in News 0
Digital Assets Fraud Threatens Market Integrity – SEC DG

Digital asset fraud threatens market integrity, says SEC DG | TheCable

Amaka Obiefuna

 

The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has expressed concern over the growing threat of digital assets fraud, warning that it poses a significant challenge to market integrity and undermines investor confidence.

 

Speaking in Abuja at an event to mark African Union Anti-Corruption Day, themed “Understanding Virtual Assets and Investment Fraud”, Dr. Agama noted that corruption continues to be a major obstacle to Africa’s economic growth, social development, and attractiveness to investors.

 

He stated: “Today, as digital innovation transforms financial systems, we face new challenges, particularly the rise of virtual asset fraud and sophisticated investment scams exploiting unsuspecting investors. These threats undermine market integrity, erode trust, and divert resources meant for sustainable development”.

 

He explained that the SEC, as a frontline regulator, remains committed to “strengthening investor education on recognizing and avoiding fraudulent schemes.; Enhancing regulatory frameworks to keep pace with evolving risks in virtual assets and digital investments; and Fostering cross-border collaboration to combat corruption and illicit financial flows”.

 

He stated that the Investment and Securities Act (ISA) 2025 introduced key provisions to regulate virtual assets (cryptocurrencies, digital tokens, and other blockchain-based assets) in Nigeria, with Commission as the primary regulator for virtual assets classified as securities or investment products.

 

Dr. Agama stated that all Virtual Asset Service Providers (VASPs) (exchanges, custodians, brokers) must obtain SEC approval and meet capital, governance, and cybersecurity standards.

 

On risk disclosures, the SEC DG noted that all platforms must warn investors about volatility, fraud, and regulatory risks, warning that there are stiff penalties for market manipulation, insider trading, and Ponzi schemes.

 

“The ISA 2025 provides a comprehensive legal framework for virtual asset regulation, balancing innovation, investor protection, and financial stability. The SEC will continue to issue guidelines to ensure compliance while fostering a secure digital asset ecosystem.

“We urge all stakeholders—governments, private sector players, civil society, and citizens—to join forces in promoting transparency, accountability, and ethical practices. Together, we can build resilient markets that drive Africa’s prosperity”, he added.

 

In his remarks, the Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, described virtual asset fraud as a fast-evolving threat to national economic security. “Another rising criminal engagement that has a potential to outpace, even money laundering, on the continent is virtual assets and investment scam”

Online Poster by — July 11, 2025 in Capital Market 0
PTAD Reaffirms Dedication To Pensioners Welfare

 

 

The Pension Transitional Arrangement Directorate (PTAD) has reiterated its commitment to protection of Pensioners’ rights and their wellbeing.

 

To this end, the Directorate said, it has introduced various initiatives aimed at actualising its mandate which is to manage pension benefits for Federal Government retirees under the old Defined Benefit Scheme(DBS), who did not transit to the Contributory Pension Scheme (CPS).

 

Speaking at the 2024/2025 Annual General Meeting (AGM) of the Nigerian Association of Insurance and Pension Editors (NAIPE) sponsored by PTAD in Lagos, the Executive Secretary/CEO, Mrs. Tolulope Odunaiya, highlighted the mandates of the Directorate and their achievements so far.

 

Odunaiya, who was represented at the occasion by the Head, Corporate Communication, Mr. Olugbenga Ajayi and Head, Lagos Regional Office, Mr. Casmir Audu said, the Directorate is fully committed to protecting the pensioners’ rights to pension as well as their wellbeing.

 

Mr. Ajayi said, the Directorate was specifically established to handle pensions of those who did not move to the Contributory Pension Scheme, noting that, PTAD’s mandate is to ensure that eligible pensioners receive their due pension payments promptly and accurately.

 

“Since establishment of PTAD in 2013, and up till this present moment, PTAD has never failed to pay pensions every month, that is why we have been able to take pensioners out of the streets; that is one of the credibility the present government is enjoying because nobody is diverting money meant for payment of pensions anymore,” he said.

 

He stated that, the Directorate has continued to introduce various initiatives to enhance its efficiency and effectiveness, some of which are; Field Verification, I Am Alive Confirmation, Mobile Verification, among others.

 

“As we progressed, we discovered that we shouldn’t be calling our fathers and mothers, especially, those from far distance to come and do verification here in Lagos and a technology was introduced. We call that technology ‘I Am Alive’ Confirmation. Why do we call it ‘I Am Alive’? Because pension under DBS is for life. Once you are still alive, you are entitled to your pension. I Am Alive enable pensioners to confirm their status even inside their home at every location. This is done through internet-enabled phone and anybody can help you do it. Once you confirm your aliveness status, in the next six month, your pension will continue to run.

 

“We have introduced Mobile Verification for people who are sick, or those who are alive but are incapacitated to attend normal verification, we schedule mobile confirmation for those who have done Am Alive verification but later falls sick,” he added.

 

Mr. Ajayi disclosed that PTAD is a federal government treasury funded agency with no commercial bank account, adding that, their responsibility is to prepare schedules of pension payment.

 

“PTAD don’t have any account in any Commercial Bank so we don’t keep any money because we are treasury funded agency. Pensions are paid by Central Bank and are paid directly into pensioners account. Our duty is to prepare the schedules of payment and it will pass through various tables including Federal Auditors, Internal Auditors, Accountant General Office, so it is not something that somebody will just wake up and say PTAD has money somewhere,” he explained.

 

He said, PTAD is ensuring that nobody tampers with pensioners’ money. PTAD offices are in 13 States of the country.

Online Poster by — July 10, 2025 in News 0
FIRS Has Made Significant Progress — IMF

 By Fidelia Okafor
The International Monetary Fund (IMF) has examined the ongoing reforms at the Federal Inland Revenue Service (FIRS) and commended the agency for what it described as significant progress in its core duties.
A Senior Economist at the Fiscal Affairs Department of the global body, Paulo Paz, gave the commendation on Wednesday at the opening of IMF-supported Headquarters Mission at the Revenue House in Abuja.
Paz said the IMF recognized the “good work that FIRS has been providing to the citizens,” under its chairman, Zacch Adedeji, adding that the Bretton institution would continue to support the agency in delivering effective tax administration for the growth and development of the country.
A statement by Dare Adekanmbi, Special Adviser on Media to the FIRS chairman said the mission of the IMF team to Nigeria was to explore areas the organisation could further support the agency in addressing the challenges that might arise, particularly with the recently signed tax laws.
According to him, the new tax laws will bring new impact to Nigeria.
“And we want to know how we can best support you with this new challenge. Our take on the four tax laws is first a recognition of the very good work that FIRS has been providing to the citizens.
“You have at the same time the recognition and new responsibilities with these very powerful laws which will increase the relevance of the tax administration in Nigeria.
“I want to express our honour of being here and being a partner of FIRS. Thank you for your trust in our advice. We congratulate you for the good results so far. There is more to come, and we are here to help,” he said.
Adedeji, while welcoming the visitors, applauded IMF for journeying with the tax body, saying that the relationship would continue when the agency transits to the Nigeria Revenue Service (NRS) next year.
Adedeji, who was represented by his Chief of Staff, Tayo Koleosho, specifically lauded IMF collaboration with FIRS in portfolio management and compliance programme.
“IMF has gone on this journey with us, and I think we are in a good place to continue the journey together. We are working together either in digital transformation, VAT automation, looking at even the compliance programme and ability to automate some of those things.
“I am interested in corporate plan and the nexus of data portfolio management so that we have our strategy being dissolved into those manageable tasks. It’s very important that those things are well
In her own remark, Mrs. Bolaji Akintola, coordinating director, Corporate Services Group, explained that the IMF has been a critical stakeholder in FIRS’ journey towards tax system reforms targeted at improving domestic revenue mobilisation.
She said FIRS, with the support of the IMF, conducted two systemic evaluation exercises using the Tax Administration Diagnostic Assessment Tool (TADAT) between 2018 and 2023.
“Each of these exercises was followed by a post-TADAT mission where a reform roadmap was developed to address the systemic weaknesses that were uncovered by the assessment.
“The fact that the results of the 2023 TADAT showed significant improvement on those of 2018 is indicative of the commitment of the Service towards institutional excellence.
“Let me assure you that if another TADAT is conducted today, the result will be better than that of 2023 because a good number of the weak indicators from the 2023 Performance Assessment Report have been addressed and some have been codified in the four tax reform laws recently signed by President Bola Tinubu,” she said.
Online Poster by — July 10, 2025 in News 0