…victims for money through various means, including money remitters, gift cards and cryptocurrency. The FBI investigations linked the activities of the alleged perpetrators to two separate cases involving American minors, who died by suicide after being subjected to online sexual exploitation and extortion. The EFCC say…

…payment. The convicted people may be ordered to pay fines of as much as $250,000 in US currency, making it one of the costlier criminal penalties an immigrant could face.The two-pronged consequence; criminal punishment combined with immigration consequences, means that someone caught committing marriage fraud does not…

…country is to continue to import all petroleum products and again use our own foreign currency to subsidise it for our people to consume, for how long can we continue to do that?" he said.Sani acknowledged that the removal of fuel subsidy had caused real suffering for Nigerians but insisted the answer was not a reversa…

…of the world's cyber-enabled financial fraud, operating through romance scams, cryptocurrency and investment fraud, and business email compromise schemes, as well as other serious and violent offences.Targeting minors flagged as growing threatOne of the most alarming findings from the operation was a rise in West Afric…

…home in Mandya, India. When locals inspected her home, they found thousands of coins and currency notes in denominations of Rs 10, Rs 20 and Rs 50 stuffed inside more than 30 sacks. To the residents of Mandya in Karnataka, Noorunnisa was simply a tragic figure, a 69-year-old woman with a long-term mental illness who sp…

…N100 million bail after spending about two months in police detention. Photos: Taye Currency/Rollex Dee.>PAY ATTENTION: From breaking news to viral moments. Follow Legit.ng on Instagram!Bail comes with hefty conditionsAccording to MC Bokujaka, the court fixed Rollex Dee’s bail at N100 million.The singer is also expecte…

…with growing cases of Ponzi schemes, fraudulent crowdfunding arrangements, cryptocurrency-enabled investment scams and hacking-related fraud. The Unit said the schemes increasingly exploited fintech onboarding gaps, including tiered accounts requiring minimal identification, while digital platforms were used to rapidly…

…and increased regulatory monitoring of transactions. The agency also received 41,716,214 Currency Transaction Reports and 10,513 Suspicious Activity Reports during the year. “During the review period, the NFIU received a total of 41,716,214 CTRs, 42,082 STRs, and 10,513 SARs,” the report stated. The NFIU said its repor…

…but also by the weaker naira, which translated dollar-denominated oil and other foreign currency earnings into substantially larger amounts of naira. The document showed that net FAAC allocations stood at N5.64tn in 2017 and rose to N7.98tn in 2018, representing a 29 per cent increase. However, growth was not sustained…

…UAE and Iran Binance says it has stopped processing transactions involving 17 cryptocurrency-asset service providers and platforms following recent regulatory developments.In a notice to users on Saturday, the cryptocurrency exchange listed the affected entities and the dates from which transactions involving them woul…

…is not the same as the quality of it,” he said, arguing that the depreciation of the currency had eroded the real value of incomes and government allocations. He maintained that Atiku’s economic agenda would therefore focus on restoring the purchasing power of Nigerians rather than merely increasing the nominal amount…

…policies, someone who believes in World Bank and IMF prescriptions, devaluation of currency, privatisation of public enterprises and all sorts of capitalist bourgeoisie economic policies, and someone who has, throughout his political history and campaigns, stood for the removal of subsidy, for someone now to make a rev…

…market, while stronger net foreign exchange inflows helped ease pressure on the local currency.The naira appreciates amid a fall in dollar demand across markets. ImagesThe CBN data showed that visible imports accounted for 41.92 per cent of total FX utilisation, while invisible imports made up the larger 58.08 per cent…

…exchange rate today, August 20, 2026: Nigerian naira returns to appreciation against US currency

…and long-term contracts become easier to negotiate. Predictability is the silent currency of modern economies, and pipeline surveillance has begun restoring it,” he stated. Further benefits extend into public finance. Higher accounted-for production translates directly into increased export revenues, improved foreign e…

…digital economy without public and investor confidence. “Trust is the bedrock currency that powers it all. Without a secure and privacy-compliant environment, citizen engagement stalls, investment slows, and digital progress is compromised,” he said. He noted that the Nigeria Data Protection Act 2023 provided the legal…

…Bank moves to acquire a juicy stake. >The company may face scrutiny over Nigeria’s currency volatility, intense competition and its ability to generate durable dollar-denominated returns.If completed, the IPO would follow US market debuts by African technology companies such as Jumia and IHS Holding, while standing out…

…across key African markets, particularly in Nigeria, its largest market, where local currency devaluations have significantly impacted reported earnings and dollar-denominated revenue figures over the past year. Share buybacks are increasingly being leveraged by cross-listed telecommunication giants operating in emergi…

…breaking news to viral moments. Follow Legit.ng on Instagram!Voter inducement claims and currency concernsOrganisers described the initiative as a grassroots support scheme aimed at providing direct financial relief to women across the state. However, commentators on social media were less charitable, with many charact…

…adjustment affecting banks’ access to its Standing Lending Facility (SLF).The local currency appreciated by N8.07 against the US dollar, with the dollar quoted at N1,349.54 at the Nigerian Foreign Exchange Market (NFEM), compared with N1,357.61 on Friday. The movement represents a 0.59 per cent gain for the naira.CBN's…

…Market (NFEM) rate of N1,349.5372 per dollar and closed at N1,350 per dollar. The currency, which traded at an NFEM rate of N1,357.6088 on Friday, August 17, 2026, appreciated by at least N8.07 after trading activities on Monday. At the parallel market, the buying rate decreased by N5 while the selling rate decreased b…

…must sustain this vigilance at all our entry points to counter the illegal movement of currency. The failure to declare large sums of currency and its equivalent is a violation of the Money Laundering (Prevention and Prohibition) Act, 2022," he said.He urged the public to comply with the law, emphasizing that declaring…

…where interbank authorised dealers and their corporate clients regularly adjust foreign currency exposures based on immediate trade obligations and broader economic indicators. The overall contraction in market activity was primarily driven by a significant reduction in FX Spot transactions, which serve as the primary…

…and Yakubu Ogirima Ibrahim. The three entities are Nine to Nine BDC Ltd, Generation Currency BDC Ltd and Abbal Bako & Sons Bureau de Change.PAY ATTENTION: From breaking news to viral moments. Follow Legit.ng on Instagram!The Sanctions Committee placed the individuals on its list in June under the Terrorism Prevention a…

…with a closing rate of N1,365.69 per dollar the week before. On a day-to-day basis, the currency edged up by N0.04 from N1,357.65 recorded on Thursday.PAY ATTENTION: From breaking news to viral moments. Follow Legit.ng on Instagram!Naira Remains Stable in Black MarketIn the parallel market, the dollar traded at around…