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Ladies and Gentlemen,

Ordinarily, this press conference would have been dedicated solely to expressing PANDEF’s appreciation to His Excellency, President Bola Ahmed Tinubu, GCFR, for graciously receiving the high-level South-South delegation at the State House, Abuja, on Tuesday, March 11, 2025. However, we find it necessary to address a deeply concerning and regrettable development that has arisen in the aftermath of this visit—namely, the media chat conducted by the Honourable Minister of the Federal Capital Territory and former Governor of Rivers State, Chief Nyesom Wike, on Wednesday, March 12, 2025.

  1. Purpose of the Visit to Mr. President

The visit to Mr. President, attended by eminent South-South leaders, including the region’s most senior traditional rulers, former governors, senators, ministers, retired senior military officers, business leaders, and other distinguished citizens, was held at the invitation of Mr. President himself. The meeting provided a valuable platform to discuss pressing issues of national and regional importance, including:

i. The imperative of peace in Rivers State and PANDEF’s ongoing mediatory efforts.

ii. The need for Presidential assent to the South-South Development Commission (SSDC) Bill, passed by the National Assembly, to ensure the region’s equitable development.

iii. Urgent infrastructure development, particularly road networks and the optimal utilization and expansion of existing and new ports.

iv. Resolution of socio-economic challenges affecting victims of the Bakassi crisis.

v. Strategies to enhance oil production and promote greater inclusion of South-South indigenes in the governance of the oil and gas sector.

vi. The necessity of a systematic environmental cleanup in oil-producing states.

vii. The continued advocacy for true federalism and restructuring.

2. PANDEF’s Expectations from the Engagement PANDEF and the people of the South-South expect that these issues, which Mr. President acknowledged with assurances of follow-up action, will be diligently pursued, leading to tangible progress in the near future.

Regarding the situation in Rivers State, PANDEF fully embraced Mr. President’s directive to the organization to sustain its ongoing mediatory and reconciliation efforts—an initiative he commended, recognizing the caliber of individuals involved.

Since that meeting, PANDEF has intensified engagements with key stakeholders, fostering dialogue to achieve an amicable resolution that guarantees lasting peace and harmony in Rivers State.

3. Disparaging Comments by the Honourable Minister

It is, therefore, both shocking and unfortunate that, barely 24 hours after this significant engagement with Mr. President—an engagement that rekindled hope for peace and stability— the Honourable Minister of the Federal Capital Territory, Chief Nyesom Wike, held a media chat in which he launched an unwarranted and deeply inappropriate attack on PANDEF and its leadership.

In his remarks, the Honourable Minister characterized PANDEF as "the worst organization ever" and accused its members of visiting the Presidential Villa merely to solicit financial favors. These statements are not only false but also unbecoming of a public official of his stature.

Even more concerning was his disparaging remarks directed at revered South-South leaders, including the late Chief E.K. Clark, a national icon and former PANDEF leader, whose legacy was duly recognized by Mr. President during our visit, with a minute of silence observed in his honor. Equally unacceptable was the crude and disrespectful attack on another national treasure His Majesty, King Alfred Diete-Spiff, former Military Governor of Rivers State and current Chairman of PANDEF’s Board of Trustees.

4. PANDEF’s Stance

To set the record straight, PANDEF the foremost socio-political body representing the South-South regions, composed of some of Nigeria’s most distinguished personalities. The delegation to Mr. President included chairpersons of at least four of the six South South states' traditional councils, senior traditional rulers of major ethnic groups, former governors, past presiding officers of the Senate, prominent entrepreneurs, academics, and high-ranking retired military officers.

It is, therefore, highly regrettable and totally unacceptable that a serving minister in the Federal Government would exhibit such brazen disrespect towards individuals of this standing. This attitude perhaps explains his continued refusal of the Minister to engage with the Peace and Reconciliation Committee, which PANDEF constituted as far back as October 2024, despite repeated attempts to reach.

5. The Efforts of the Peace and Reconciliation Committee

For the avoidance of doubt, the Peace and Reconciliation Committee, which remains committed to resolving the Rivers State crisis, comprises distinguished statesmen, including:

- Obong Victor Attah, former Governor of Akwa Ibom State.

- Col. Pam Ogar, former Military Governor of Kwara State.

- H.E. Admiral Jonah John, former Deputy Governor of Bayelsa State.

- Chief Mrs. Stella Omu, Engr. Emmanuel Ibok-Essien and Sen. Roland Owie, all three at different times former Chief Whips of the Senate.

- Rt. Hon. Stella Dorgu, former leader in the House of Representatives.

While the Governor of Rivers State, Sir Siminalayi Fubara, has demonstrated willingness to engage with this committee, the Honourable Minister has consistently rebuffed all attempts to reach him opening up at dialogue. Given his open hostility and dismissive attitude toward PANDEF, the organization can no longer subject these esteemed senior Nigerians on peace mission to such levels of disregard and disrespect.

6. Appeal to Mr. President

PANDEF hereby calls upon Mr. President, as the father of the nation, to prevail upon the Honourable Minister to retract his inflammatory statements and extend due respect to these eminent Nigerians and traditional rulers who were, after all, esteemed guests of the Commander-in-Chief. It is apt to remind that the Minister does not own the Niger-Delta and his errant conduct should not be condoned.

Notwithstanding this regrettable development, PANDEF remains unwavering in its commitment to peace, stability, and equitable development in the Niger Delta. We will continue to engage with great vigour, all relevant stakeholders in pursuit of lasting harmony in Rivers State and the broader South-South region.

7. Conclusion

We appreciate your time and attention. Thank you.

Signed

Ambassador Godknows Boladei Igali

 

Sometimes a woman finds herself at a destination she did not plan for, a place where she neither bargained for nor boarded a bus or plane to. She just wakes up and finds herself there, a totally new place where she has to learn a new language, new coping skills, a different way of life. What is she supposed to do especially when the new place brings with it both fortune and challenges?

Let us start with a woman who married a young brilliant middle-income man when they were both junior executives in a bank, and then 20 years later, he becomes a traditional ruler! Two decades in the banking sector means they had gone really far, travelled wide and were already looking at soon becoming Executive Directors or even something bigger on the Directors’ floor. Who has an idea what becoming a traditional ruler in Nigeria, Africa entails? The difference between being a Regional Manager of a bank and becoming a wife, mother and queen is like the distance between Lagos and Australia.
Taiwo is overwhelmed. Yes, she knew her husband was a prince but she never thought the royal rotation would swing that fast in their lifetime. But two kings died in quick succession and just like that, her husband was chosen by the royal house and the oracle to go step into his ancestors’ shoes.

‘We were both just building our careers and minding our business in our corner of the banking world. We had had our share of couples’ trouble but nothing close to that weekend when the elders of the family and kingmakers came to deliver their royal message. Of course, we started with shock, denial, resistance. Then when they left, the arguments started, followed by tension, confusion, more arguments and even ultimatums.’
Why you?

Couldn’t they have chosen your uncle, a more elderly prince?
What is going to happen to our plans? Are you actually going to accept it, leave Lagos and move to your hometown?
What about the children, their schools?
Must I follow you home?

Taiwo was faced with the option of staying back in Lagos and losing her place and position in her husband’s life. A Yoruba king is incomplete without his queen or queens. That last part was a major concern, major trouble. Yoruba Oba tend to keep harems. First. He traditionally inherits the wives of the late kings, that is if he they are alive and living in the palace. The details of the inheritance are royal secrets, as many as he wants. Then he can marry more, , after all he is the ‘husband of the town and second-in-command to the creator.’ Anyway, here is a banker, now an Olori, faced with tough life-changing decisions. She does not want to stop working or end her career. She does not want her husband to turn his back on his heritage but she does not look forward to becoming the ‘iya wa’ or Senior Olori with young Oloris prancing up and down the palace and stealing the home she built.

Yours sincerely has two friends who are Oloris. I also have friends who are traditional rulers, two of whose wives opted to live outside the palace, ceding their queen thrones to new queens. It is a tough choice for a woman. Our traditional stools are tasking and some of them do not want to share the occupiers of the stools with their wives. So, what is your advice for a doctor, banker, politician whose husband suddenly becomes a king? How does one move from city life to the slow and quietness of the countryside and ‘bed-sharing’?

A friend’s marriage just graduated from ‘separation’ to divorce because her husband decided to obey ‘the call upon his life’ to move into full-time ministry. ‘Yes, I am a Christian but I am not ready to be a Pastor’s wife or Mummy G.O. We had been on this matter for years and I had always told him that the rigours of following a pastor all over the place was not one that I wanted. He could be a pastor but a full-time one? No. It would mean me picking the family bills, dropping certain ways of life I am already used to, being constantly under scrutiny, fasting and almost permanently living in the church but he insisted that the call had become too loud to be ignored.’ That was how my friend moved abroad. He is miserable. She is miserable. The marriage is almost over. How does one counsel a woman in a case like this?

What about where the struggling young man you married makes good quickly. One year, you are scrimping and saving to make rent and in just five years, you have moved into a five-star estate and driving luxury cars? A wife should be happy and thank her stars, right? Well, that comes with its own challenges too. This rich husband is hardly ever at home and the women winking and blinking at him are a different story. Those who are not doing juju are using every known and unknown feminine whiles to take him away from you. Then the ‘poor’ wife wakes up one morning and there are love children in the mix and curvaceous women are parading themselves as the other ‘Mrs’. To worsen an already bad case, a couple of those desperate women are daughters of the husband’s benefactor or business partners, men he does not want to wrong. Well, the wife is feeling wronged and oppressed.

What should a wife expect if her husband finds wealth early? What should she not do, think or consider? How does she enjoy that wealth without depression and high blood pressure?
The politician’s wife. Sounds already like the title of a book or a movie, a life of drama. Are you smiling or shaking your head? She is the envy of many women, even men. Her husband is powerful, connected, influential. She is the grand hostess whose home is haven for men and women who are movers and shakers in her community, state or in the country. But there is the private pain, the tears she wets her pillows with because of who her husband is. Her husband is busy, hardly ever available even when he is sitting right beside her. His libido is down because he is preoccupied, he says but she believes it is because he is servicing many websites outside.

How exactly do you counsel a woman whose husband’s changed status throws her into the deep end of the pool when she never thought she would ever need to swim?
Please share your thoughts via email, Facebook and Whatsapp.


Re – The problem with the whole truth
I agree 100% with the article. Men flaunt their previous escapades (my children told me it is currently called body count) as validation of their ability to engage. Unfortunately, they also love a ‘tear leather’ virgin or manage a lady who can pretend that no man has climbed them but lost their virginity during the final tournament a long-jump Olympics.
Women should be wise. Please don’t tell in graphic details your past even if your man has given a 10-page detail of his. Unfortunately, it is men’s world. His own previous escapade is termed a ‘badge of honor’ while your own is ‘a shameful’ past!
Men are selfish. A widower on the average remarries two or three years after the passing of his wife. Unfortunately, a widow may not have another opportunity, unless God intervenes.
Our women should be wise.
-Tunde

Representative Byron Donalds will introduce legislation on Friday to codify an executive order that President Donald Trump signed earlier this month that establishes a strategic Bitcoin reserve and US digital asset stockpile.

 

Passing the bill would ensure that the reserve and stockpile could not be eliminated by executive action from a future president, protecting the crypto-friendly policy that Trump embraced both on the 2024 campaign trail and in his second administration.

While the bill would require 60 votes in the Senate and a majority in the House, cryptocurrency-friendly policies have gained bipartisan support in this Congress.

“For years, the Democrats waged war on crypto,” Donalds, a Florida Republican, said in a statement on Thursday evening. “Now is the time for Congressional Republicans to decisively end this war.”

Trump’s executive order called for the creation of a Bitcoin reserve within the Treasury Department for the roughly 200,000 Bitcoin the US government owns, which the administration believes will increase government holdings as the value of the assets grows.

The executive order also authorizes the Treasury and Commerce Departments to develop “budget-neutral strategies” for buying more Bitcoin for the reserve with no incremental costs to taxpayers and prohibits the sale of any Bitcoin in the reserve. It also established a stockpile for other digital assets currently owned by the Treasury Department and for any future assets acquired through criminal or civil asset forfeiture proceedings.

The effort to codify the executive order is the latest sign of interest among Washington lawmakers in the industry.

Donalds, in particular, has embraced cryptocurrency as he runs for governor of Florida in next year’s election, vowing to make his state the financial capital of the world with the help of digital assets.

The crypto industry has had a series of victories across Washington in recent weeks. Major industry executives convened with Trump and top US officials at the White House last week after he signed the executive order creating the stockpile and reserve. And a bill that outlines rules for issuing stablecoin payments and requirements to back stablecoin payments with US currency, Federal Reserve notes, Treasury bills and other assets is also moving through Congress.

[Bloomberg]

Ark Invest, led by Cathie Wood, has increased its Bitcoin holdings, purchasing 997 BTC worth $80 million through Coinbase on March 13.

According to Arkham Intelligence, the transaction was split into two — one for 498 BTC and another for 499 BTC. This move comes as institutional investors adjust their positions amid market fluctuations.

While Ark is adding Bitcoin, it has also sold around $9 million worth of Bitcoin ETFs, following a trend where over $1.1 billion has exited spot Bitcoin ETFs recently.

Bitcoin is currently struggling to break past $83,700, with fears of a potential drop to $75,000. However, Cathie Wood remains confident, having previously predicted that Bitcoin could hit $1 million by 2030.

Bitcoin’s 200-day moving average sits at $82K

In its monthly report, Ark Invest revealed that short-term Bitcoin bears are paying an average of $92,020 per BTC, while the 200-day moving average — a key support level — currently sits at $82,000.

The report also highlights that Bitcoin’s Fear & Greed Index has hit a two-year low, reflecting “extreme panic” not seen since 2017.

A potential bullish sign is that Bitcoin’s Spent Output Profit Ratio (SOPR) has reset to 1, meaning sellers are breaking even rather than taking losses. Historically, this metric has marked the turning point before price recoveries.

Ark’s ‘Bitcoin Reacts to Trump’ report attributes the market downturn to slowing Bitcoin circulation and declining consumer sentiment, particularly in the U.S. amid political uncertainty.

"Consumers and businesses seem to be more cautious amid uncertainty associated with the U.S. political transition," the report states.

 [TheStreet]

Ripple has become the first blockchain payments firm to secure a licence from the Dubai Financial Services Authority (DFSA).

This is the firm’s first licence in the Middle East, and enables the firm to provide regulated cryptocurrency payments and services within the Dubai International Finance Centre (DIFC).

The approval allows Ripple to make its payment products accessible to businesses in the UAE.

In 2020, the company established its Middle East headquarters in DIFC in 2020 and now has over 20% of its global customer base operating in the region.

Ripple CEO Brad Garlinghouse said: “We are entering an unprecedented period of growth for the crypto industry, driven by greater regulatory clarity around the world and increasing institutional adoption. Thanks to its early leadership in creating a supportive environment for tech and crypto innovation, the UAE is exceptionally well-placed to benefit.”

DIFC Authority CEO Arif Amiri stated: “We are thrilled that Ripple is deepening their commitment to Dubai by securing a DFSA licence that makes them the first blockchain-enabled payments provider in DIFC. This milestone not only highlights our commitment to fostering innovation, but also opens the door for Ripple to tap into new growth opportunities across the region and beyond.

Ripple's own RLUSD stablecoin, launched in December 2024 on global exchanges, has exceeded a market cap of $130m, the company stated.

The DFSA licence is the newest addition to Ripple's portfolio of over 60 regulatory approvals globally.

Last month, Ripple partnered with Portuguese currency exchange provider Unicâmbio to enable instant cross-border payments between Portugal and Brazil

"Ripple gains licence for crypto payments in UAE " was originally created and published by Electronic Payments International, a GlobalData owned brand.

[GlobalData]

 

The Bitcoin (CRYPTO: BTC) chart has been a roller coaster ride recently.

The original and largest cryptocurrency rose to an all-time high of $106,182 per coin in January, then fell back as much as 25.8% over the next seven weeks. That's a sharp retreat from a long upswing -- Bitcoin has more than quadrupled in price over the last two years. To put the gains in context, the S&P 500 (SNPINDEX: ^GSPC) market index showed a total return of 49% over the same period:

Bitcoin Price Chart
Bitcoin Price data by YCharts

So Bitcoin snapped a long winning streak, dipping below $80,000 per coin for the first time since last November. Can the cryptocurrency get back to robust gains or Is the bull run all done?

The bearish case

First and foremost, some investors see very little value in Bitcoin in the first place. Warren Buffett wouldn't buy all the Bitcoin in the world for $25, because "it isn't going to do anything." It isn't a business operation, or a valuable lot of real estate, or a patch of food-producing farmland. The value of this digital asset isn't based on anything real, so the only way to make money with it is to find a buyer willing to pay a higher price.

From that perspective, Bitcoin is long overdue for a price correction. The current market value of $1.62 trillion is a lot more than $25, after all.

And even if you see significant value in Bitcoin assets, you could still argue that it's overpriced. 2024 was packed with potentially game-changing price catalysts for Bitcoin. With the introduction of exchange-traded funds (ETFs) based on spot Bitcoin prices, the fourth halving of Bitcoin mining rewards, and the introduction of a more crypto-friendly U.S. government all in the rearview mirror, maybe there's no room for further gains in 2025.

Furthermore, many crypto investors are nervous about recent advances in quantum computing. The next-generation computing technology will probably make current encryption algorithms breakable and worthless in the long run -- including the popular SHA-256 hashing system at the heart of Bitcoin's encryption security. Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) and Microsoft (NASDAQ: MSFT) have taken massive leaps forward in recent months, arguably accelerating the quantum computing progress by several years. The thinking is that criminals and fraudsters must be on the threshold of hacking Bitcoin's digital transaction ledger to pieces.

Where the Bitcoin bulls hang their hats

The Bitcoin whitepaper compares the cryptocurrency to physical gold. Instead of buying picks, shovels, mines, and ore refining equipment, Bitcoin miners invest in data centers and electric power. Either way, the two types of miner generate a scarce and therefore valuable resource. They are also useful in the real world: Gold is found in jewelry, medical devices, and electronics while Bitcoin offers a robust and flexible transaction ledger. Warren Buffett was never much of a gold investor, so his aversion to Bitcoin makes sense in this light.

The ETF catalyst delivered some of its value before the actual event. Bitcoin prices rose 72% from early October, 2023 to January 12, 2024. In this time span, the rumor mill chatter about spot Bitcoin ETFs turned into solid expectations, culminating in their approval and introduction. But that's not the end of their value creation. The most popular name on the list, the iShares Bitcoin Trust ETF (NASDAQ: IBIT) holds $47.4 billion of Bitcoin in a Coinbase Global (NASDAQ: COIN) custody service. This robust inflow of funds should be the start of a long-term trend. Deep-pocketed institutional investors aren't ready to open cryptocurrency brokerage accounts yet, but ETFs are easy to use in a standard stock portfolio. So the Bitcoin ETFs open the door to a larger (and richer) population of potential long-term investors.

As for the Trump administration's cryptocurrency policies, only time will tell how they are changing the Bitcoin market. The Strategic Bitcoin Reserve isn't shaping up to the Bitcoin-buying bonanza some crypto holders had expected, but more of a quiet alternative to gold reserves. A more laissez-faire approach to cryptocurrency regulation may indeed accelerate the widespread adoption of Bitcoin and other cryptocurrencies, but the final regulations are probably still many years away.

The quantum computing threat may sound terrifying. In reality, Bitcoin is very much under active development and should be immune to these attacks long before quantum computers are powerful enough to pose a real threat. There are math problems too difficult to solve with a mature quantum computer, and encryption systems are already adopting these stronger algorithms by the boatload. Meanwhile, even the most optimistic forecasts expect quantum computers to stay in the toys-and-experiment stage for at least five more years.

The long-term view

Finally, the shape of this halving cycle looks quite familiar.

Charts never tell the whole story, of course. Previous results are no guarantee of future gains. Still, the halvings make a significant difference to the economics of Bitcoin mining, effectively slashing the financial rewards in half while production expenses stay the same. In the long run, this production model only works if Bitcoin prices rise over time. Along the way, each halving shakes out underfunded or inefficient miners while the top producers continue to make a good living.

On that note, the current halving cycle is fairly close to former examples. The second and third halvings unleashed price jumps measured in thousands of percent -- about a year and a half after each halving of the mining rewards. If the ongoing halving's calendar stays on track, I'd expect peak prices in the fall of 2025, followed by another crypto winter. Things could be different this time, but that's what Bitcoin's pricing history looks like.

No, the Bitcoin bull run isn't over

So the Bitcoin bears have their arguments, but the bulls bring a stronger case to the table. With or without the halving effects, Bitcoin is becoming the digital gold standard for value storage. Even if I never use Bitcoin to pay for a candy bar, a car, or a house, this cryptocurrency and its digital ledger look poised to replace savings accounts over time. That's a multi-trillion-dollar market, ripe for modernization on a global scale.

That's why expect Bitcoin to keep building market value, perhaps accentuated by a temporary price spike later this year. In my eyes, Bitcoin is a great asset to own in the long term. The recent price drop is just another short-lived squiggle on the charts.

[The Motley Fool][

Nigerian President Bola Tinubu has explained the rationale behind his administration’s economic reforms, saying the primary motive was protecting the interests of future generations.

A statement by spokesman, Bayo Onanuga, said the president spoke on Thursday at the State House in Abuja while receiving a delegation of former National Assembly colleagues from the aborted Third Republic, during which he served as a Senator representing Lagos West.

The president said for 50 years, Nigeria was spending money of generations yet unborn and servicing the West coast of the nation’s subregion with fuel, adding that it was getting difficult to plan for the future of Nigeria’s children

He highlighted the challenges faced at the beginning of his administration, particularly economic and social issues, expressing gratitude for the delegation’s support in addressing the difficulties.

Tinubu declared that the administration had been able to stem the tide and expressed appreciation to Nigerians for their collective support in turning things around.

“We faced serious headwinds when I took over, very challenging times. Nigeria would have been bankrupt if we had not taken the actions that we took, and we had to prevent the economy’s collapse.

“Today, we are sitting pretty on a good foundation. We have reversed the problem; the Exchange rate is stabilising. Food prices are coming down, especially during Ramadan. We will have light at the end of the tunnel,” he said.

He reiterated that firm adherence to democratic tenets is the best route to economic, social, and political development.

“I am happy that you are holding to your belief in democracy. I thank you for keeping faith and remembering how we started. Some people missed the ball. Some leadership failed, but we kept the faith with our democratic beliefs and freedom and the right to aspire to the highest office in the land. I am benefiting from it,” Tinubu added.

 [DailyPost]
 
 
 

The Chairman of the Senate Committee Inter-Parliamentary Senator Jimoh Ibrahim has explained why the purported petition from suspended Senator Natasha Akpoti-Uduaghan is “dead on arrival” at the Inter-Parliamentary Union (IPU).

Senator Ibrahim who made the assertion in a statement in Abuja, emphasised that Nigeria, rather than Senator Natasha, is the member of the IPU.

“A petition can only be lodged against another member state by a member state.

“This implies that the IPU cannot consider petitions from individuals who are not members,” he began.

 

Ibrahim added: “The suspended Senator Natasha is not a member of the IPU, but Nigeria is!

 

“Additionally, the suspended Senator cannot represent the Federal Republic of Nigeria.

“I served as the interim president of the IPU in Geneva in 2023, and I am familiar with how the IPU operates after presiding over its proceedings.

“Furthermore, as Chairman of the Interparliamentary Committee in the Nigerian Senate, I did not approve or authorise the suspended Senator Natasha to attend the IPU on behalf of Nigeria to the Senate President.”

[TheNation]

Chelsea have reached an agreement to sign highly rated Portuguese youngster Geovany Quenda from Sporting CP, with the winger set to join the Blues in 2026.

According to transfer expert Fabrizio Romano on Friday via X, the deal, finalised after a swift negotiation process, will see Quenda sign a seven-year contract with an option to extend for an additional year.

His medical has already been completed, paving the way for his future move to Stamford Bridge.

 

Quenda has reportedly given his approval to Chelsea’s project and the plans of new manager Enzo Maresca.

Romano stated: “Chelsea agree deal for Portuguese top talent Geovany
Quenda—here we go. Medical done for Quenda after secret blitz, he will join Chelsea in 2026. Club-to-club agreement completed with Sporting, and Quenda said yes to Chelsea’s project and Enzo Maresca’s plans.

“Geovany Quenda’s contract at Chelsea will be valid for the next seven years, all agreed last night. There will be also an option to extend the agreement for +1 year.”

[Punch]

 

The Nigeria Customs Service (NCS), says it has intercepted undeclared 1.1 million U.S. dollars and 135,900 Saudi Riyals at the Mallam Aminu Kano International Airport in Kano.

Its Spokesperson, Abdullahi Maiwada, made this known in a statement on Thursday in Abuja.

Maiwada said the seizure was made recently during a routine baggage check on an inbound passenger who arrived on Saudi Airline Flight No. SV401 from Saudi Arabia.

He explained that during a physical examination of the passenger’s luggage by NCS officers, the undeclared currency was found concealed within packs of palm dates.

The interception, he said, aligned with the NCS’s commitment to enforcing financial regulations and preventing illicit financial flows across Nigeria’s borders.

“In line with established procedures, the suspect and the seized foreign currency have been handed over to the Economic and Financial Crimes Commission (EFCC) for further investigation and necessary legal action.

“Subsequently, the court convicted the defendant as charged and ordered the forfeiture of the undeclared money to the Federal Government in line with provisions of the Money Laundering (Prevention and Prohibition) Act of 2022,” he said.

He stressed that the NCS is determined to ensure that all travelers complied with Nigeria’s financial regulations, particularly the legal requirement to declare any cash or negotiable instruments exceeding the approved threshold when traveling in or out of the country.

He stated that the Money Laundering (Prevention and Prohibition) Act of 2022 and the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, 1995, provided clear guidelines on currency declaration.

[Vanguard]