Olukoyede Tasks Institutions On Money Laundering, Terrorism Financing
12 Aug
Business News

Olukoyede Tasks Institutions On Money Laundering, Terrorism Financing

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Business Ola Intrained, EFCC Chairman The Executive Chairman, Economic and Financial Crimes Commission, EFCC, Ola Olukoyede has charged Designated Non Financial Institutions Businesses and Professions, DNFBPs on compliance and cooperation with the Commission in order to combat money laundering and terrorist financing in the country. Olukoyede made the call recently in Port Harcourt, Rivers State during A One-day Anti-Money Laundering/ Combating Financing of Terrorism/ Countering Proliferation Financing AML/CFT/CPF Workshop for DNFBPS on Compliance and Obligations themed:“Effective Implementation of AML/CFT/CPT Measures Among The DNFBP Sector in Nigeria” Speaking through the Director, Special Control Unit Against Money Laundering (SCUML), Deputy Commander of the EFCC, DCE Harry Erin, he stressed that it was important for relevant stakeholders to do their part in fight against money laundering...
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FEC approves ₦68.7bn for power projects in varsities, hospitals
12 Aug
Business News

FEC approves ₦68.7bn for power projects in varsities, hospitals

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Business From Juliana Taiwo-Bobalye, AbujaThe Federal Executive Council meeting presided over by President Bola Tinubu has approved ₦68.7 billion in contracts to drive two key power projects focused on delivering reliable electricity to selected universities, teaching hospitals, and rural businesses as part of the sector’s transformation agenda.Power Minister Adebayo Adelabu revealed the approvals on Thursday, July 31, 2025, while briefing State House Correspondents at the end of the meeting in Abuja. Adelabu highlighted that the approvals demonstrate the administration’s resolve to reform the power sector and ensure a consistent power supply to vital institutions. “This administration is bent on ensuring the transformation in our power sector and improving supply...
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Business News

Fresh blows to China’s troubled EV maker Neta: here’s how the one-time EV darling got here

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Business A Neta S electric sports sedan was showcased in one of the company’s offline shops in Shanghai on Monday, August 21, 2023. Credit: TechNode/Jill ShenChinese electric vehicle startup Neta Auto is facing mounting challenges after an advertising firm filed for bankruptcy proceedings against its parent company, in the latest blow to the former EV darling, which has been trying to regain investor confidence following unpaid debt, mass layoffs, and tales of factories lying idle. Neta’s financial woes are rapidly approaching the critical stage. The company, already backed by multiple Chinese regional authorities and a number of prominent investors, has had difficulties securing new investors, with unpaid debts totalling nearly RMB 10 billion ($1.4 billion), according to a recent report by Chinese financial media outlet Caixin. The news comes just three years after Neta was seen...
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