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EFCC Confirms Nigeria’s Suspension From Financial Intelligence Units

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EFCC Confirms Nigeria’s Suspension From Financial Intelligence Units

The Economic and Financial Crimes Commission (EFCC) on Wednesday inaugurated a committee to reposition the Nigerian Financial Intelligence Unit (NFIU), following its suspension from the Egmont Group of Financial Intelligence Units.

The Spokesman of the commission, Mr Wilson Uwujaren, who disclosed this in a statement, said the commission’s Acting Chairman, Mr Ibrahim Magu, performed the inauguration ceremony in Abuja.

Media reports had said that the suspension of the NFIU, an arm of the EFCC, was due to Nigeria’s failure to provide a legal framework to make the unit independent.

According to reports, the group is also worried by the constant leaking of sensitive intelligence to the Nigerian media, contrary to global best practices the country signed up for.

Nigeria was said to have been given till January 2018 to grant autonomy to the NFIU or risk expulsion from the Egmont Group, which would cut the country off the international financial intelligence loop.

The Egmont Group is a global body of 154 financial intelligence units (FIUs) which serves as a platform for members to share expertise and financial intelligence to combat international money laundering and terrorist financing.

The NFIU is charged with tackling money laundering and monitoring financial flows, a task made easy by its membership of the Egmont Group.

The inauguration of the EFCC committee came hours after the Senate resolved to pass a legislation that would make the unit independent of the EFCC.

Uwujaren said the committee is charged with making recommendations with respect to the funding of the NFIU operations and developing career path for its staff.

It is also mandated to develop protocol for the protection of information and confidentiality, specifically as regards the status of STR information and information deriving from international exchange.

According to him, the committee’s mandate also include developing procedure for processing of information held by the NFIU either deriving from STR or from international exchange for legitimate purposes.

Magu was said to have charged the committee to take a holistic look at the mandate and operations of the NFIU to enable it to evolve proposals to reposition the agency for greater efficiency.

Magu noted that membership of the Egmont Group is critical to Nigeria’s effort to tackle money laundering, and monitor financial flows within and outside the country.

He, therefore, urged the committee to, among others, address the concern of the Egmont Group by providing the necessary frameworks needed to coordinate the process of amending section 1(2)(c) of the EFCC Act, to expressly reflect NFIU as an autonomous unit under the commission.

According to him, this is to provide the legal basis or clarity on its operational independence from the EFCC.

The EFCC spokesman said the committee has as its Chairman, Dr Abdullahi Shehu, a former Director-General of the Inter-Governmental Action Against Money Laundering in West Africa (GIABA).

Members of the committee were drawn from law enforcement, financial and regulatory agencies, including the Nigeria Deposit Insurance Corporation (NDIC) and the Central Bank of Nigeria.

Responding, Shehu expressed delight at the opportunity given to them to serve the country.

“We see this as a call to service and we assure you that we will ensure that we carry out this task judiciously in order to reposition the NFIU, and ensure that it is autonomous, as this will further strengthen the anti-corruption fight”, he said.

 

-PM News

MUSIC

Tems Debut Album Ranks #2 On Billboard’s R&B List Of 2024

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Tems debut album hits #2 on Billboard's R&B list of 2024 | fab.ng

Tems’ Global Impact: A Billboard Recognition

Tems, a global music sensation, has solidified her position as one of Africa’s most successful artists, with her album captivating millions of fans worldwide and garnering numerous prestigious awards.

In a recent testament to her talent, her debut album secured the second spot on Billboard’s list of the best R&B albums of 2025.

This remarkable achievement places Tems alongside renowned artists such as Chris Brown, PartyNextDoor, Muni Long, and Bryson Tiller.

Furthermore, Billboard has praised Tems’ music for transcending the boundaries of Afrobeats, resonating with audiences across the globe.

“The Nigerian star finds her footing in the global spotlight and stands firmly in her purpose on her dazzling debut album Born in the Wild.

“She opens up about surviving her mental wilderness and learning to thrive in it on the opening acoustic ballad that shares the album’s title.

“And on the mid-tempo standout “Burning,” Tems confronts the trappings of her newfound stardom but finds comfort in the collective struggle. As someone who’s studied Céline Dion, Destiny’s Child, and Mariah Carey and dreamt of making soul-stirring songs that send people into their feelings, Tems succeeded with aplomb.

“Born in the Wild became her highest-charting project on Top R&B Albums (reaching No. 5) and marked her career-first entry on the Billboard 200, peaking at No. 56.

“And while Born in the Wild and “Love Me JeJe” earned Tems 2025 Grammy nominations for Best Global Music Album and Best African Music Performance, respectively, her best R&B song nod for “Burning” further reinforced the rich diversity of her music–  and the notion that African artists like Tems cannot be bound to the catchall “Afrobeats” term, as their music has traveled well past the borders of the continent. – H.M.”

Tems’ debut album, “Born In The Wild,” received critical acclaim in the United States.

Indeed, the album earned a Grammy nomination for Best Global Album.

Additionally, her single “Burning” broke records by securing a nomination for Best R&B Song. Meanwhile, “Love Me Jeje” received a nomination for Best African Music Performance.

Check out more music updates here.

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MUSIC

Adekunle Gold Reveals The Role Pheelz Played In Getting Him Signed To YBNL

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Adekunle Gold credits Pheelz for his YBNL signing | fab.ng

Adekunle Gold marks a significant milestone this December 2024 as he celebrates 10 years since releasing his breakthrough single ‘Sade.’

This debut track, which creatively reimagined One Direction’s ‘Story Of My Life,’ catapulted him into Nigeria’s mainstream music consciousness in December 2014.

The artist recently shared compelling details about his journey to stardom in an industry interview, particularly highlighting his unique path to signing with YBNL.

Before his musical breakthrough, Adekunle Gold cultivated a professional relationship with Olamide through his work as YBNL’s graphic designer, creating cover art for the label’s artists, including Lil Kesh and Viktor.

The pivotal moment in his career arrived when producer Pheelz discovered ‘Sade’ and advocated for Gold’s signing to Olamide, leading to a transformative partnership with YBNL.

Under the label’s guidance, Gold released his debut album, ‘Gold,’ which produced standout hits like ‘Orente’ and ‘Pick Up,’ earning both critical acclaim and commercial success.

AG Baby, as fans affectionately call him, has demonstrated remarkable artistic versatility throughout his decade-long career.

He began his journey by crafting a distinctive urban interpretation of folk and traditional Yoruba music, later evolving into a dynamic pop star with the release of ‘Afro-pop Vol 1.’ His musical portfolio now spans five albums, each showcasing his growth and artistic range.

The singer-songwriter has established himself as one of Nigeria’s most accomplished artists, earning recognition for his exceptional songwriting abilities and commanding stage presence.

His performances continue to captivate audiences across Africa, solidifying his position as a leading figure in the continent’s music scene.

Gold’s journey from a graphic designer to a celebrated musician exemplifies his artistic versatility and dedication to his craft, marking him as one of Africa’s most sought-after performers.

Check out more updates here.

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FOREIGN

Beyoncé Achieves Historic Milestone As Most Certified Female Artist

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Beyoncé is most RIAA certified female artist of all time | fab.ng

Renowned singer Beyoncé has solidified her position as the most certified female artist of all time, a distinction bestowed upon her by the Recording Industry Association of America (RIAA).

Her recent surge in song certifications has propelled her to an impressive total of 103 RIAA-certified titles, surpassing all other female artists in this category.

The RIAA celebrated this monumental achievement in a post on X on Tuesday.

“Crowning achievement! Congratulations to @Beyonce, who now holds the record for the most certified titles for a female artist in RIAA history, including her first two Diamond singles! @parkwood @columbiarecords,” RIAA announced in a post on X on Tuesday.

Among her numerous accolades are Diamond certifications for two iconic singles: “Halo” and “Single Ladies (Put a Ring on It).” These certifications signify extraordinary sales and streaming figures.

Additionally, Beyoncé boasts a string of impressive certifications for her albums. “Renaissance” has achieved 2x Platinum status, “Lemonade” has attained 4x Platinum, and both “Sasha Fierce” and “Dangerously In Love” have earned 7x Platinum certifications.

This latest milestone further solidifies Beyoncé’s legacy as one of the most influential and successful artists of all time.

Her ability to consistently deliver groundbreaking music that resonates with audiences worldwide has undoubtedly contributed to her unparalleled success.

Check out more music updates here.

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