Day: August 7, 2025

Nigeria, US advance high-level talks over visa restrictions

Editor

Despite diplomatic requests from the Federal Government, the Ministry of Foreign Affairs has announced that the United States has not yet lifted the recent visa restrictions placed on specific Nigerian nationals. “Engages are ongoing but the policy is yet to be reversed so far,” ministry spokesperson Kimiebi Ebienfa told stated  on Wednesday. Given that the United States has not formally responded to Nigeria’s request for a review, the development implies that the visa restrictions might stay in effect. Certain non-immigrant visas, such as those falling under the B1/B2 (business and…

EFCC Intensifies Anti-Money Laundering Efforts in Real Estate

Editor

Due to insufficient client vetting, the Economic and Financial Crimes Commission has expressed concern about the pervasiveness of money laundering in Nigeria’s real estate industry, pointing to estate developers as major enablers. The EFCC chairman, Ola Olukoyede, ordered real estate developers to do background checks on real estate investors in order to verify the authenticity of their revenue streams, according to a news statement posted on the agency’s social media accounts on Wednesday. At a gathering in Abuja on Wednesday, Olukoyede issued the warning in a speech headlined “Tackling Illegal…

Foreign investors sell off N576bn Nigerian stocks in six months

Editor

Between January and June 2025, foreign investors sold out N576.09 billion worth of stocks on the Nigerian Exchange, an increase of 84.97% over the N311.41 billion that was taken out during the same time period in 2024. Over the course of the six months, the net negative foreign portfolio position was N16.84 billion since the outflows were more than the foreign inflows, which totaled N559.25 billion. Foreign trading activity has increased in comparison to the same period last year, according to data from the NGX’s June 2025 Domestic and Foreign…