NIGERIAN MAKES U.S MOST WANTED LIST OVER $1M FRAUD. (PHOTO).

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 Nigerian makes US Most Wanted List over $1m fraud A Nigerian, Onoriode Ezewu, has been named on the United States Department of Labour’s first-ever Most Wanted List over allegations of money laundering involving fraudulent unemployment benefit claims worth more than $1m. The department’s Office of Inspector General unveiled the list on its website on Wednesday, naming 16 fugitives wanted in cases involving alleged fraud, identity theft, money laundering, labour trafficking and other offences. According to the agency, the cases collectively involve more than $55m allegedly stolen from American taxpayers. Ezewu’s profile on the department’s website identifies him as wanted for concealment money laundering and states that he is believed to be residing in Nigeria. “In January 2021, Ezewu was charged with 15 counts of concealment money laundering tied to fraudulent UI and Pandemic Unemployment Assistance claims filed using stolen identities, in a scheme exceeding $1 million that also t...
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CBN DENIES SELLING FX AT N1, 301/$ TO BDCs. (PHOTO).

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 CBN denies selling FX at N1,301/$ to BDCs


The Central Bank of Nigeria (CBN) has dismissed claims that it is selling foreign exchange (FX) to eligible Bureau de Change (BDC) operators at N1,301 per dollar.


In a statement posted on X on Tuesday, the CBN clarified that a widely circulated document suggesting such a transaction did not originate from the bank.


The fake circular claimed that BDCs were permitted to sell FX to eligible end-users at a margin of no more than 1% above the purchase rate from the CBN. It further alleged that the CBN had implemented measures to address exchange rate distortions and approved the sale of $20,000 to each BDC at the rate of N1,301 per dollar.


“Following ongoing reforms in the foreign exchange market to achieve an appropriate market-determined exchange rate for the Naira, the Central Bank of Nigeria (CBN) has observed continued price distortions at the retail end of the market, feeding into the parallel market and widening the exchange rate premium,” the fraudulent document stated.


The fake circular also detailed instructions for BDCs, including making Naira payments to designated CBN Foreign Currency Deposit Accounts and submitting necessary documentation at specific CBN branches in Abuja, Awka, Lagos, and Kano.


However, the CBN has categorically denied these claims, describing the information as false and unaffiliated with the bank.


It is worth noting that on September 6, 2024, the CBN approved the sale of dollars to BDC operators at a rate of N1,580 per dollar.

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