NUT PROTEST : WIKE WARNS AGAINST POLITICISING INSECURITY. (PHOTO).

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 NUT Protest : Wike Warns Against Politicising Insecurity The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has warned against politicising insecurity amid protests by the Nigeria Union of Teachers, FCT wing, over the killing and abduction of school staff and children in Oyo State. Teachers stormed the FCTA Secretariat in Abuja to condemn the killing of Michael Oyedokun and to demand the release of abducted pupils and teachers from Community High School, Ahoro-Esinle in Oriire Local Government Area. The FCT minister addressed the protesters on Tuesday, saying the federal government is on its toes working to secure the rescue of the schoolchildren and their teachers. Wike urged protesters to avoid turning the tragedy into a political issue and to give security efforts time to produce results. Chairman of the union in the FCT, Mr Abdullahi Shafa, explained that the nationwide solidarity protest was to condemn the killing of the teacher and abduction of the school chil...
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COURT CONVICTS, FINES FIRM FOR ILLEGAL BDC OPERATION IN LAGOS. (PHOTO). #PRESS RELEASE

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 Court  Convicts,   Fines  Firm for Illegal BDC Operation in Lagos


Justice D.I.Dipeolu of the Federal High Court, sitting in Ikoyi, Lagos, on Friday, February 20, 2026, convicted and sentenced a company, AP Mcnisi Initiatives Limited, to a fine of N500,000( Five Hundred Thousand Naira) for operating a Bureau De Change (BDC) business without a valid licence.


The conviction followed the arraignment of the company by the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC), Ikoyi, Lagos on a one-count charge bordering on illegal foreign exchange transactions.


The charge reads: “ That you, AP Mcnisi Initiatives Limited, on or about June 7, 2024, in Lagos, within the jurisdiction of this Honourable Court, engaged in a foreign exchange transaction with one Adeoye Phillips Tomilola other than through the official foreign exchange market and without a valid licence from the Central Bank of Nigeria (CBN) to carry on the business of Bureau De Change, and you thereby committed an offence contrary to Section 11(1)(a) of the National Economic Intelligence Committee Establishment (Etc.) Act and punishable under Section 11(2) of the same Act.”


Upon arraignment, the company pleaded “guilty” to the charge.


In view of the plea, the prosecution counsel, A.A. Usman, reviewed the facts of the case through an EFCC operative, Bello Buhari Kobi.


Kobi told the court that the Commission received a petition alleging that the defendant received the sum of N10,000,000 in its account domiciled with Guaranty Trust Bank for conversion to $9,000, but failed to deliver the dollar equivalent to the complainant.


He stated that investigations revealed that the company was not licensed by the CBN to carry out BDC operations. 


He further disclosed that Adekunle Fadibe Mcnisi, identified as the alter ego of the company, admitted that the firm had not obtained the requisite approval from the apex bank to operate as a BDC. 


The operative added that the defendant had refunded the complainant.


The prosecution, thereafter, tendered the petitioner’s letter, correspondence with the bank, the bank’s response, and the extra-judicial statement of the alter-ego of the defendant, which were admitted in evidence by the court.


 


Consequently, Justice Dipeolu convicted the defendant  and ordered it to pay a fine of N500,000, failing which its assets worth the sum of N500,000 shall be forfeited to the Federal Government of Nigeria.

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