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CBN establishes new unit to tackle financial crime
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The Central Bank of Nigeria has announced the creation of a dedicated Compliance Department aimed at enhancing oversight of non-prudential risks across the country’s financial system.
This new unit reflects the apex bank’s commitment to strengthening regulatory frameworks in response to evolving threats and compliance challenges.
In a circular issued to regulated financial institutions on Thursday, the CBN stated that the department was established in the first quarter of 2025 and became fully operational in the second quarter.
The move is part of broader structural reforms designed to improve regulatory efficiency, define institutional roles more clearly, and ensure focused supervision of emerging and non-traditional risks.
In recent years, the Nigerian financial sector has faced increasing pressure from global regulatory standards, technological threats, and evolving financial crimes.
Non-prudential risks—such as money laundering, cyberattacks, poor market conduct, and weak corporate governance—pose significant threats to financial stability and investor confidence.
“This structural reform forms part of the Bank’s broader efforts to consolidate and embed regulatory effectiveness within existing supervisory frameworks, clarify institutional responsibilities, and maintain focused oversight of non-prudential and emerging risks,” CBN said.
With its creation, the apex bank said the compliance department has taken over responsibilities in four key areas.
“Financial crime supervision, covering anti-money laundering, counter-terrorism financing, counter-proliferation financing, and sanctions compliance,” CBN said.
“Market conduct supervision, including disclosure practices, complaints management, and advertising standards;
“Enterprise security supervision covering cybersecurity, data protection, and third-party risk management; and corporate governance and ESG supervision focusing on board effectiveness and oversight of environmental, social, and governance oversight,” it added.
The financial regulator further said all regulatory reports, correspondence, and related inquiries concerning the matters should be directed to the director of, compliance department, through the established communication channels.
The apex bank added that institutions will receive direct guidance on specific points of contact and submission procedures.
CBN said it looks forward to continued cooperation from all institutions to ensure a smooth transition and to uphold the highest standards of compliance with applicable regulatory requirements.
The PUNCH Online reports that the apex bank is clamping down on PoS fraud with geo-tagging and global payment standards, aiming to make every digital transaction traceable and trustworthy.
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Ajayi, Adeshina win Commonwealth Games bronze
Nigeria’s Kayinsola Ajayi and Temitope Adeshina claimed bronze medals in the men’s 100m and women’s high jump respectively at the 2026 Commonwealth Games in Glasgow on Tuesday, PUNCH Sports Extra reports.
Both national record holders delivered podium finishes for Team Nigeria, with Ajayi clocking 9.90 seconds in the men’s 100m final, while Adeshina cleared 1.90m to finish third in the women’s high jump.
Ajayi, 21, had entered the final as one of the favourites after winning his semi-final in an impressive 9.94 seconds and was aiming to hand Nigeria its first athletics gold of the Games.
However, African champion Emmanuel Eseme of Cameroon powered to victory in a Games record of 9.83 seconds, while Australia’s Lachlan Kennedy claimed silver in a personal best and Oceanian record of 9.85 seconds.
The bronze medal capped another outstanding performance in what has been a breakthrough season for the World Championships finalist.
The Auburn University sprinter won the NCAA title earlier this year before breaking Olusoji Fasuba’s 20-year-old Nigerian record with a blistering 9.84 seconds. He has since equalled that mark twice, running 9.84 seconds on three occasions this season, while also winning two Diamond League races before arriving in Glasgow.
Ajayi was Nigeria’s only representative in the men’s 100m final after Favour Ashe and Fakorede Adekalu failed to progress from the semi-finals. Ashe finished fifth in his race in 10.07 seconds, while Adekalu placed fourth in 10.06 seconds.
Adeshina also lived up to expectations in the women’s high jump, producing a best clearance of 1.90m to secure the bronze medal in a highly competitive field.
The Nigerian record holder, who enjoyed an outstanding collegiate season in the United States, added a Commonwealth medal to her growing list of achievements after qualifying comfortably for the final.
In the women’s 100m, African U-20 champion Miracle Ezechukwu narrowly missed out on a place in the final after finishing fourth in her semi-final in 11.23 seconds.
Rosemary Chukwuma finished eighth in her semi-final in 11.82 seconds after appearing to sustain an injury midway through the race, while national champion Blessing Ogundiran was unable to start her heat due to illness.
The two bronze medals boosted Nigeria’s athletics medal haul as Team Nigeria continued its quest for more podium finishes in Glasgow.
News
FG launches single gateway portal for government services
The Federal Government on Tuesday unveiled the Government Service Portal, a digital platform designed to provide Nigerians and businesses with a single gateway to access government services, in a move aimed at improving service delivery, reducing bureaucracy and advancing the country’s digital transformation agenda.
The platform was unveiled at a soft launch in Abuja by Galaxy Backbone in partnership with the Federal Ministry of Communications, Innovation and Digital Economy and the Korea International Cooperation Agency.
Speaking at the event, the Managing Director and Chief Executive Officer of Galaxy Backbone, Prof. Ibrahim Adeyanju, said the portal would address the long-standing challenge of citizens having to navigate multiple websites and government offices to access public services.
He described the platform as “the beginning of a unified digital gateway through which citizens and businesses can easily discover, access and consume services offered by Government institutions from a single location.”
According to him, “Government should be organised around the needs of the people, not around institutional boundaries.”
Adeyanju said while many Ministries, Departments and Agencies had digitised their services individually, the overall experience for users remained fragmented.
“The Government Service Portal seeks to change that. By bringing Government services together under one trusted digital gateway, we are simplifying access, improving visibility, promoting consistency and creating a more seamless experience for everyone who interacts with Government,” he said.
He noted that the initiative aligns with President Bola Tinubu’s Renewed Hope Agenda by improving public service delivery, deepening digital innovation and supporting economic growth through technology.
The Galaxy Backbone boss added that the portal was a key component of Nigeria’s Digital Public Infrastructure initiative, complementing existing national digital identity, payment and data exchange systems to create a more integrated digital government ecosystem.
He explained that the platform was being introduced through a soft launch to enable government agencies to onboard their services, strengthen system integration and gather user feedback before a wider rollout.
“The success of this Portal will not ultimately be measured by the sophistication of its technology. It will be measured by the ease with which a citizen can access a government service, by the confidence businesses have when engaging with public institutions, by the time saved, by the transparency achieved and by the trust that is built between Government and the people it serves,” Adeyanju said.
The Permanent Secretary of the Federal Ministry of Communications, Innovation and Digital Economy, Nadungu Gagare, who was represented by the Director of E-Government, Mr Johnson Bareyei, described the platform as one of the flagship projects under Nigeria’s e-Government Master Plan 2.0.
He said the portal would provide a secure single sign-on system through which citizens could access government services without repeatedly submitting the same information to different agencies.
“Today’s event is not simply about providing a digital platform. It’s about demonstrating what can be achieved when government agencies work together with a shared purpose, making public services easier, faster and more accessible for every Nigerian,” he said.
Gagare added that the platform supports the National Digital Economy Policy and Strategy, the Federal Civil Service Strategy and Implementation Plan and Nigeria’s Digital Public Infrastructure framework.
He said the portal would improve transparency, strengthen accountability, enhance ease of doing business and make government services more responsive to citizens.
The Country Director of KOICA Nigeria, Mr Eunsub Kim, who was represented by the Senior Deputy Country Director of KOICA Nigeria, Ki-Hyun Baik, described the launch as the culmination of years of collaboration between Nigeria and South Korea.
According to him, the portal is the flagship achievement of the “Building a Foundation Towards Digital Governance in Nigeria” project.
“For KOICA, today’s event is more than the launch of a digital platform. It is the culmination of years of partnership,” he said.
Kim added that the platform would enable citizens to access government services “more conveniently through one point of entry,” describing it as the vision of “a true one-stop service.”
He reaffirmed KOICA’s commitment to supporting the project beyond the pilot phase, noting that digital governance requires continuous improvement and collaboration among stakeholders.
Also speaking, the Director of International Cooperation at the Federal Ministry of Budget and Economic Planning, Dr Sampson Ebimaro, described digital transformation as a strategic enabler of national development.
He urged stakeholders to prioritise inter-agency collaboration and continuous evaluation to ensure the project’s success.
“We need to get feedback. We need to assess what we are doing so that when we get to the end, we won’t say we have left so many things behind,” he said.
The Executive Director, Digital Exploration and Technical Services at Galaxy Backbone, Olumbe Akinkugbe, said user acceptance testing for the portal was conducted across the six geopolitical zones and the Federal Capital Territory before the launch.
He disclosed that 184 participants took part in the exercise, with more than 80 per cent rating the platform as user-friendly and easy to navigate.
According to him, 88 per cent of participants were able to locate government services on the platform, while 71 per cent rated it as fast or very fast.
He added that 91 per cent said they would use the portal again, while 99 per cent indicated they would recommend it to others.
Akinkugbe said feedback from the pilot phase had already informed improvements to address sign-up issues, image capture challenges and one-time password delivery delays.
He added that more Ministries, Departments and Agencies would be onboarded in the next phase to expand the range of services available through the platform.
News
FG lists 7 mistakes to avoid when applying for government jobs
The Federal Government has identified seven common mistakes that could reduce applicants’ chances of securing government jobs, warning Nigerians to avoid recruitment scams and follow official application procedures.
The guidance, issued through the Federal Character Commission (FCC), comes as thousands of Nigerians continue to seek employment in ministries, departments, agencies and other federal institutions.
According to the Commission, while many applicants focus on finding vacancies, simple errors such as applying through unofficial websites, submitting inaccurate information or ignoring application requirements can derail their chances of success.
The FCC advised applicants to verify every recruitment announcement through recognised government platforms before submitting applications.
1. Applying through unofficial sources
The Commission warned job seekers against relying on recruitment information circulated on social media without verification.
It noted that fake websites, unofficial application links and misleading vacancy announcements are often used by fraudsters to steal applicants’ personal information or extort money.
To address this, the FCC said it has created a dedicated recruitment platform on its official website where verified vacancies from federal institutions can be published.
2. Paying for government jobs
The Commission also cautioned Nigerians against individuals claiming they can secure government appointments in exchange for money.
While acknowledging public concerns about unfair recruitment practices, the FCC stressed that federal recruitment follows official procedures and that anyone collecting money or promising guaranteed employment is acting illegally.
It encouraged applicants to report suspected recruitment fraud and said it would publish a detailed guide on recruitment processes, job racketeering and whistleblowing.
3. Ignoring application requirements
The Commission said many applicants fail to carefully read recruitment guidelines before submitting applications.
Government vacancies often include specific eligibility requirements such as educational qualifications, age limits, professional certifications, work experience and supporting documents.
Applicants were advised to ensure they meet all stated conditions before applying.
4. Missing application deadlines
According to the FCC, waiting until the closing days of a recruitment exercise can lead to missed opportunities caused by technical problems or incomplete submissions.
It advised candidates to submit applications early to allow enough time for corrections if necessary.
5. Providing incorrect information
The Commission urged applicants to ensure that every detail provided during the application process is accurate.
Mistakes involving names, qualifications, contact details or supporting documents could create problems during verification and affect eligibility.
6. Failing to prepare for later stages
The FCC noted that submitting an application is only the beginning of the recruitment process.
Applicants may still be required to take aptitude tests, attend interviews or participate in screening exercises, depending on the institution and position.
Candidates were advised to prepare adequately for every stage of the recruitment process.
7. Assuming every vacancy is genuine
The Commission also warned that not every government job advertisement circulating online is legitimate.
It advised applicants to be cautious of opportunities that promise guaranteed employment, demand payment before application, originate from unofficial sources or create unnecessary urgency.
According to the FCC, genuine recruitment exercises are transparent and conducted through recognised government channels.
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