COURT JAILS TWO FOR N14.8M FRAUD IN MAIDUGURI. (PHOTO). #PRESS RELEASE.

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 Court Jails Two for N14.8m Fraud in Maiduguri Justice B.T Zannah of the Borno State High Court sitting in Maiduguri, on Monday, July 13, 2026 convicted and sentenced two to three years imprisonment. The convicts are: Babagana Bukar and Hauwa Chabri.  The convicts were arraigned on Monday, July 13, 2026 by the Maiduguri Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on a separate one -count charge for the offence of criminal misappropriation to the tune of N14,800,000.00 (Fourteen  Million, Eight Hundred Thousand Naira). The charge against Bukar reads: "That you, Babagana Bukar sometimes in 2025 at Maiduguri, Borno State within the jurisdiction of this honourable court, dishonestly misappropriated and converted to your own use the aggregate sum of N8,800,000.00 (Eight Million, Eight Hundred Thousand Naira)  money belonging to Bunu Gambo Liman, being amount given to you through Babakura Umar and Bello Adamu for the supplies of 100 bags of IRS...
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INFLATION RATE: NIGERIA DOING BETTER THAN OTHER AFRICAN COUNTRIES- CBN.(PHOTO).

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Inflation rate: Nigeria Doing Better Than Other African Countries – CBN


The Central Bank of Nigeria, CBN said the country’s inflation rate is still doing better than most African nations.


The acting Governor of the CBN, Folashodun Shonubi, stated this at the 2023 Zenith Bank International Trade Seminar in Lagos on Tuesday.


According to him, there were several contributing factors to the global inflation rise Speaking on the theme, “Nigerian Non-Oil Export Industry. The Present, The Future,” Shonubi expressed concern over low growth rate in non-oil exports to Gross Domestic Product ratio.


The acting CBN governor, who was represented by the Deputy Governor, Economic Policy at the CBN, Kingsley Obiorah, said Nigeria’s inflation rate stood at 22.8 per cent, adding that the International Monetary Fund expected the country to have a growth moderation of 3.2 per cent in 2023.


Obiorah stated, “Now, when you come down to Africa and neighbouring Ghana, At the last count inflation there is at 42.5 per cent. We have it at 31 per cent in Ethiopia and 36 per cent in Egypt.


“So, in our dear country, we are at 22.8 per cent. When you hear these figures, it tells you that we’re not doing as badly but all of this has also affected economic growth itself. Today, the IMF has revised growth downwards from 3.5% per cent to three per cent this year and 3 per cent next year.”

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