Jonas Ezieke, Abuja

The Chartered Risk Management Institute of Nigeria has commended the Central Bank of Nigeria for introducing enhanced regulatory measures aimed at strengthening the security of Nigeria’s digital financial ecosystem.

In a statement issued by the President and Chairman of Council Kevin Ugwoke, the Institute described the new framework as a timely and proactive response to rising risks such as fraud, identity theft, and unauthorized access within the instant payment system.

CRMI particularly highlighted key safeguards introduced by the apex bank, including a ₦20,000 transaction limit on newly activated mobile banking applications within the first 24 hours, mandatory device binding, and real-time enterprise fraud monitoring systems.

According to the Institute, these measures are designed to reduce vulnerabilities associated with account takeovers, especially during the critical early stage of account activation.

“By limiting transaction exposure during the high-risk activation window, the framework significantly reduces the opportunity for fraudsters to exploit newly onboarded or compromised accounts,” the statement noted.

Beyond digital security, CRMI also applauded the introduction of the Nigerian Overnight Financing Rate (NOFR), a benchmark expected to standardise overnight funding rates and align Nigeria’s financial system with global best practices.

The Institute said the move would deepen financial markets, improve transparency, and enhance monetary policy effectiveness.

However, CRMI stressed that the success of the new framework will depend heavily on implementation, urging banks, fintech firms, and payment service providers to strengthen cybersecurity infrastructure, invest in fraud analytics, and prioritise staff training and customer awareness.

It also reaffirmed its commitment to supporting regulatory reforms through professional development, advocacy, and collaboration with industry stakeholders, as Nigeria continues its transition towards a more digitally driven economy.

By David Owei

Mr Ehiozuwa Agbonayinma, former Federal Commissioner of the Code of Conduct Bureau (CCB) has tasked journalists on fact-finding particularly concerning the alleged missing N34 trillion from the federation revenue.

Agbonayinma who said that Nigerians deserved to know the truth concerning the alleged missing fund, gave the charge on Saturday in Abuja, after his investiture as Patron, Association of Edo Journalists in Abuja (AEJA).

Reports linked to the World Bank had indicated that while total federation revenue reached N84 trillion over three years (2023 to 2025), 41 per cent (N34.53trn) was deducted before reaching the Federation Account.

However, the Federal Ministry of Finance has denied that the funds were “missing” or “stolen,” arguing that the deductions were legitimate “first-line charges,” statutory transfers, and security expenditures.

Reacting to the development, the CCB former federal commissioner, while celebrating the power of journalism to catalyse national redemption, said that they should go beyond reporting what people especially the government wants them to report, to investigating and fact-finding.

According to him, journalists are the children of government, and are closer to the people than policymakers.

“You pull the true stories to citizens; investigative journalism is therefore key, because it is a service to humanity.”

Agbonayinma who was one time the lawmaker representing Oredo Federal Constituency also said that Nigeria was at a crossroad, lamenting the nation’s unfulfilled potential 66 years post-independence.

“We are crawling, not walking. Our enemies are ourselves,” he said.

He also decried corruption as a “total cancer” in the country, saying that the nation’s existential problems stemmed not from external forces but from “corruption upon corruption” within its own institutions.

He called for unity across political divides, stressing that redemption required patriotic action, not foreign intervention.

“If we wait for Americans or British to save us, we are jokers. Nigerians abroad thrive; why not at home?” he queried.

He therefore urged citizens to rise up constitutionally to rebuild the country to a “Nigeria of our dreams”.

He commended the leadership and members of the AEJA for the honour and pledge to work with the association for better reportage and country.

Jonas Ezieke, Abuja

The Inspector-General of Police, IGP Olatunji Rilwan Disu was on Saturday, 25th April 2026, honored at a colorful and emotionally resonant State Banquet held at the Lagos State House, Marina, Lagos State, following his appointment as the 23rd Indigenous and 33rd Inspector-General of Police of the Federal Republic of Nigeria.

This was disclosed in a statement issued to newsmen by the Force Public Relations Officer FPRO DCP Anthony Okon Placid at the Force Headquarters on Sunday in Abuja

The Lagos State Government, led by Governor Babajide Sanwo-Olu, hosted the event, which brought together dignitaries, senior officials, security stakeholders, and members of the public to celebrate a leader whose career reflects discipline, service, and excellence.

Governor Sanwo-Olu described the IGP as a product of Lagos, shaped by its communities and institutions, and defined by a strong commitment to service. He emphasized that the honor recognized a legacy of leadership, especially during Disu’s tenure as Commander of the Rapid Response Squad in Lagos.

The Inspector-General expressed gratitude to the Government and people of Lagos State for the warm reception, describing the event as a personal homecoming. He reflected on his years of service in Lagos and reaffirmed his commitment to restoring trust, upholding professionalism, and strengthening community partnerships in policing nationwide.

The IGP pledged to strengthen collaboration between the Nigeria Police Force, the Lagos State Government, and key security stakeholders such as the Lagos State Security Trust Fund to maintain safety and stability across the state and nation. He urged all Nigerians to support law enforcement, emphasizing that security is a shared responsibility involving government, the private sector, civil society, and citizens.

The event highlighted the strong relationship between Lagos State and the Inspector-General, reflecting their shared commitment to service, leadership, and national development.

End