EFCC ARRAIGNS MAN FOR ALLEGED ₦55M FRAUD IN LAGOS. (PHOTO). #PRESS RELEASE.

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 EFCC Arraigns Man  for  Alleged ₦55m Fraud in Lagos The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, on Wednesday, December 3, 2025 arraigned one Gabriel Celestine Nwawuzor, before Justice Daniel Osiagor of the Federal High Court in Ikoyi, Lagos for ₦55m fraud. Nwawuzor was arraigned alongside Moonlink Pharmaceuticals Limited, on a 3-count charge bordering on fraud and money laundering to the tune of N55,000,000 (Fifty Five Million Naira) One of the counts reads: "That you Gabriel Celestine Nwawuzor and Moonlink Pharmaceuticals Limited sometime in April, 2021, in Lagos, within the jurisdiction of this Honorable Court procured the account number 2170235882 domiciled in Zenith Bank to retain the sum of N55, 000, 000.00 ( Fifty Five Million Naira) which sum you knew forms part of the proceeds of your unlawful act and you thereby committed an offence contrary to Sections 21(a), 18(2)(d) of the of Money Laundering (Prevention and Prohibitio...
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PAKISTAN HAS MADE A MAJOR ECONOMIC BREAKTHROUGH WITH THE DISCOVERY OF A HUGE GOLD RESERVE WORTH Rs. 80,000 CRORE IN THE INDUS RIVER BED. (PHOTO).

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 Pakistan has made a major economic breakthrough with the discovery of a huge gold reserve worth Rs. 80,000 crore in the Indus River bed.

 This discovery comes at a crucial time for the country, which has been facing severe economic challenges, including declining foreign reserves, a weakening currency, and rising inflation. According to the World Gold Council, Pakistan’s total gold reserves increased to 64.74 tonnes in the last quarter of 2024, up slightly from 64.72 tonnes in the previous quarter. The newly discovered reserves could play a significant role in strengthening the country’s economy.


With foreign exchange reserves at just USD 5.43 billion as of December 2024, Pakistan is in desperate need of financial relief. If the gold deposits are successfully mined and monetized, they could increase foreign exchange reserves and attract international investors. A well-managed mining project could bring in foreign capital, create employment opportunities, and reduce Pakistan’s reliance on imported gold. Analysts believe this discovery could enhance Pakistan’s position in the global mining sector, as the country’s current gold reserves are among the lowest in South Asia.


The mining project will be carried out by National Engineering Services Pakistan (NESPAK) in collaboration with the Mines and Minerals Department of Punjab, according to a report by Times Now. Experts suggest that an efficient extraction process could significantly boost gold production and improve Pakistan’s overall economic stability. The discovery also presents an opportunity for Pakistan to diversify its economy, reducing dependence on external financial aid.


While the gold reserves offer huge economic potential, experts caution that effective management and transparent policies will be key to maximizing the benefits. Pakistan has faced challenges in the past with mining projects due to political instability, corruption, and infrastructure issues. If handled properly, this gold discovery could provide long-term financial stability and help Pakistan recover from its ongoing economic crisis.

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