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Cryptocurrency Portrays Greater Danger To World Economy, Says EFCC

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Chairman, Economic and Financial Crimes Commission, EFCC, Abdulrasheed Bawa, has said growth of cryptocurrencies, such as Bitcon portrays a far greater danger to the world economy.

The EFCC boss stated this while delivering a keynote address on Monday at the 38th Cambridge International Symposium on Economic Crime, themed, “Economic Crime-Who pays and who should pay?”, organized by the Center for International Documentation on Organized and Economic Crime (CIDOEC), Jesus College, University of Cambridge,, United Kingdom.

Describing cryptocurrencies as the new typologies of economic crimes, Bawa said criminals now elect to transact or receive illegal monies such as ransom money in digital currency, noting that Bitcoin and Ethereum were the most commonly used medium of these exchanges.

He therefore, advocated collective and collaborative approach by authorities around the world in dealing with the challenges of financial crimes which, he noted, is a global scourge as no nation is spared its virulence.

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According to him, economic crimes which are largely illegal acts committed for private gain, “affect the vital structures of global economies, causing significant damage to the Global Financial System and depriving developing nations of the needed resources for sustainable development”.

He noted that developed countries are not immune from the scourge, which has “magnified with the proliferation of Cyber-crimes which threatens the stability of Global Financial Institutions.”

He commended the choice of theme which he said offers a platform to interrogate the challenges of economic crimes.

“As the victims of crime continue to suffer globally from the effects of financial crimes, either directly or indirectly as part of a social system, the determination of who pays or who should pay becomes a critical measure of the criminal justice system in place,” he said.

He underlined the imperatives of an impartial judiciary in ensuring that “the perpetrators of acts and not the victims pay for their crimes.”

While highlighting some of the transparency and accountability achievements of the Nigerian Government under the leadership of President Muhammadu Buhari including enactment and amendment of relevant laws to enhance public accountability and reforms such as Treasury Single Account and the Whistle Blower Policy among others;  Bawa pointed out that the EFCC, as the rallying point in the fight against economic crimes in Nigeria, has recorded important milestones in investigations, prosecutions and assets recovery.

In his words, “Since its establishment in 2003, the Commission has recorded no less tha  3,500 convictions and recovered assets of significant value including properties in Nigeria, the UK, USA, and the UAE. All these have measurably contributed to the national efforts against economic crimes in Nigeria”.

The EFCC boss concluded by challenging participants to come up with practical solutions to curb the international threat of economic crimes.

Chairman of the Symposium, Mr. Saul Froomkin, thanked the EFCC boss for his insightful presentation, and the support received from Nigeria in organizing the event.

Participants at the Symposium were drawn from law enforcement and security agencies, accountability institutions and select stakeholders from across the World.

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IMF to Nigeria: Don’t Bring Back Petrol Subsidy for Everyone, Help the Poor Instead

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By Yusuf Danjuma Yunusa

The International Monetary Fund (IMF) has advised Nigeria against restoring broad petrol subsidy, recommending targeted support for vulnerable households to cushion the impact of rising energy costs.

IMF said blanket petrol subsidies were expensive, often benefited higher-income consumers disproportionately and could worsen fiscal pressures amid rising borrowing costs.

Rodrigo Valdés, director of the IMF’s fiscal affairs department, spoke during a press briefing on the fund’s fiscal monitor at the 2026 annual meetings of the IMF and World Bank in Bangkok, Thailand, on Wednesday.

His comments followed a question on how the fund could recommend allowing energy prices to reflect scarcity when higher fuel prices in Nigeria could raise transport costs, worsen inflation and deepen poverty, particularly when the government was facing calls to restore petrol subsidy ahead of an election year.

“Protecting people is not the same as protecting the price of fuels,” Valdés said.

He said fuel subsidies or measures preventing prices from adjusting fully to an energy shock had cost countries between 1 percent and 1.5 percent of gross domestic product (GDP) in 2026.

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“It’s first fiscally very costly, and second, if you look at the pattern of consumption, it’s easy to see that that subsidy is readily regressive in many places,” he said.

Valdés said governments should instead use social safety nets and household data to identify people who need assistance.

“There are better tools to deal with this,” he said.

The federal government recently announced a 30-day petrol discount at Nigerian National Petroleum Company (NNPC) Limited retail stations, with priority for public transport operators, to cushion the impact of rising fuel prices.

Taiwo Oyedele, minister of finance, said NNPC retail would sell petrol at cost by foregoing its retail profit margin, describing the measure as temporary relief rather than a return to petrol subsidy.

The government also proposed negotiating a ceiling of N1,350 per litre on petrol’s ex-gantry or landing cost, subject to monthly reviews.

The IMF also recommended targeted interventions to cushion the effect of higher fuel prices on transportation costs.

Davide Furceri, a division chief in the fund’s fiscal affairs department, said governments could redirect some of the resources spent on blanket subsidies towards vulnerable consumers.

“For example, you mentioned transportation costs. Yeah, gasoline could go up, and perhaps bus fees may be subsidised in a way that is a much better policy at the end of the day than just a blanket subsidy for everybody,” Furceri said.

He also suggested alternatives such as school feeding programmes, geographical targeting and assistance for vulnerable farmers.

Furceri acknowledged that some countries lacked household registries and digital payment systems needed to deliver targeted support effectively.

However, he said governments could adopt alternative approaches in the short term while developing stronger systems.

He recommended that assistance should be limited, targeted and temporary.

Valdés explained that fuel subsidies could worsen global energy pressures by preventing demand from adjusting when supplies were constrained.

“When you subsidise, you don’t allow, at the end of the day, demand to adjust,” he said.

“And reality is that we have less fuels in the world economy. That means that someone else has to adjust more, and the market produces a higher price for that.”

The IMF official said subsidies were not only costly and regressive but could also have spillover effects on the global economy.

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Ahmad Hamisu Gwale Wins NBMA National Award for Best Male Newscaster 2026

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Kano-born journalist and broadcaster Ahmad Hamisu Gwale of Premier Radio 102.7 FM, Kano, has emerged as the winner of the Best Radio Newscaster (Male) National category at the seventh edition of the Nigerian Broadcasters Merit Awards (NBMA) 2026.

The awards ceremony was held on Saturday, 10 October 2026, at the Oriental Hotel, Lagos, bringing together broadcasting and media professionals to recognise excellence, professionalism and innovation across Nigeria’s media industry.

The annual awards featured more than 85 categories spanning television, radio and digital media.

Gwale emerged as the winner ahead of five other nominees: Gbenga Alli-Balogun of Eko FM; Nnah Douglas of Wazobia FM Abuja; Nyamgul Agaji of City 105.1 FM; Augustus “GUS” Aigbe of Cool FM; and Chike Osuji of Orient FM/IBC Owerri.

His achievement marks a significant milestone in his broadcasting career, further highlighting his work in radio news presentation and journalism.

From Sports Broadcasting to National Recognition.

Before winning the NBMA national award, Gwale received recognition from the Sports Writers Association of Nigeria (SWAN), Kano State chapter, as Best Radio Sports Presenter of the Year 2024.

The award was presented on 6 February 2025 during the association’s calendar launch in Kano, recognising his contributions to sports broadcasting.

His recognition at both the SWAN awards and NBMA reflects his professional experience across two important areas of radio broadcasting: sports presentation and news reading.

Early Life and Education

Ahmad Hamisu Gwale was born in Sani Mainagge, Gwale Local Government Area of Kano State, Nigeria.

He developed an interest in journalism and communication, which led him to pursue formal training in mass communication. He graduated from the School of Basic Mass Communication (BMC), Kano, in 2018.

He subsequently studied Computer Science at Kano State Polytechnic, completing his programme on 15 May 2026. He is currently advancing his studies in Computer Science through the Ahmadu Bello University, Zaria.

His educational background combines communication and journalism training with technical knowledge, supporting his interests in digital publishing, multimedia production and technology-driven media.

Journalism and Broadcasting Career

Gwale began his journalism career at Freedom Radio Kano in 2021 before joining Premier Radio 102.7 FM Kano in 2023.

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At Premier Radio, he has worked in different capacities, including newsreader, reporter, sports presenter and multimedia journalist. His experience covers news preparation and presentation, editorial work, current affairs reporting, sports coverage and digital content production.

His professional responsibilities and interests include presenting news bulletins, writing and editing reports, covering football competitions, conducting interviews and producing content for broadcast and online audiences.

He has also contributed to sports programmes, including Zauren Wasanni, through which audiences receive updates and discussions about sporting developments.

Through these roles, Gwale has built experience in communicating news and sports information to diverse audiences.

Contributions to Sports Journalism and Barau FC

Beyond radio broadcasting, Gwale has been involved in football media and communications, particularly through his work with Barau Football Club, popularly known as the Maliya Boys.

His contributions have included preparing match reports, previews, player profiles, official announcements, post-match updates and digital content for supporters.

His involvement in football communications has also focused on promoting players, documenting club activities and bringing developments in Kano football to a wider audience.

His experience in sports journalism has complemented his broadcasting career and contributed to his recognition by SWAN Kano.

Publishing and Media Entrepreneurship

In addition to his broadcasting career, Gwale is the founder and chief executive officer of AHG Mirror Media Services Company.

He is also associated with Independent Mirror, an online newspaper established in September 2023, where he serves in a leadership and publishing capacity.

His media interests span online newspaper publishing, news reporting, digital content creation, multimedia production, social media management, online branding and media consultancy.

Through these initiatives, he seeks to expand access to news and information while exploring opportunities offered by digital communication and contemporary media platforms.

Combining Journalism with Technology

Gwale’s interest in Computer Science complements his work in journalism and digital publishing.

His technical education supports his broader interests in online media development, digital communication and multimedia production.

By combining journalism with technology, he is developing a professional profile that spans traditional broadcasting, online publishing, sports communications and media entrepreneurship.

A Milestone in His Broadcasting Career

Winning the Best Radio Newscaster (Male) — National award at NBMA 2026 adds to Gwale’s professional recognition and marks another milestone in his journey through Nigeria’s broadcasting industry.

From his early career at Freedom Radio Kano to his work at Premier Radio and his involvement in digital publishing and football communications, his experience reflects a career built across news presentation, sports journalism and media enterprise.

His latest recognition at the Nigerian Broadcasters Merit Awards places his name among the award recipients celebrated at the seventh edition of the national broadcasting event.

Ahmad Hamisu Gwale continues to pursue opportunities at the intersection of journalism, sports, technology and digital media.

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Senate Passes Barau’s Bill to Provide Legal Framework for Yusuf Maitama Sule Federal University of Education, Kano

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The Senate on Tuesday passed a bill sponsored by the Deputy President of the Senate, Senator Barau I. Jibrin (APC, Kano North), to provide a legal framework for the Yusuf Maitama Sule Federal University of Education, Kano, Kano State.

The bill was passed during plenary presided over by the President of the Senate, Senator Godswill Obot Akpabio, GCON. It seeks to provide the statutory foundation for the effective management and administration of the institution.

Recall that in September 2024, President Bola Ahmed Tinubu approved the conversion of the Federal Colleges of Education in Kano and Zaria into federal universities of education.

Following Senator Barau’s request on behalf of the people of Kano, President Tinubu, on May 10, 2025, also approved the renaming of the institution as the Yusuf Maitama Sule Federal University of Education, Kano.

To give the institution a legal framework, Senator Barau sponsored the bill, which passed through the legislative process and was approved by the Senate for second and third readings. The bill scaled first reading on Wednesday, March 25, 2025.

While leading the debate on the bill, Senator Barau said the legislation was necessary to give legal backing to the institution.

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He commended President Tinubu for approving the institution’s upgrade and renaming, explaining that the bill would provide a legal framework for the promotion and development of teacher education and make comprehensive provisions for the university’s management and administration.

He said: “Mr Senate President, this institution has already been established by the President of the Federal Republic of Nigeria.

“You may recall, my colleagues, that in the last Senate, I made efforts to facilitate the establishment of these institutions, including the Federal College of Education, Zaria, which was to be upgraded to a full-fledged university, as well as Alvan Ikoku College of Education and Adeyemi College of Education. The bills were passed and transmitted to the late President Muhammadu Buhari, but they were not assented to.

“When President Bola Ahmed Tinubu assumed office, I approached him and conveyed the desire of my people to have the Federal College of Education, Kano, upgraded to a full-fledged university. He assured me that, since it was the request of the people, it would be done. The President subsequently approved the upgrade of the institution.

“But we were not done yet. At the request of my people, I returned to the President to seek approval for the institution to be named after the late Yusuf Maitama Sule. The President immediately approved the request. Today, the institution is a full-fledged university offering degrees in various fields of education.

” We cannot thank Mr President enough. He loves Kano and has consistently acceded to our requests. Beyond this institution, he has also approved the establishment of the Federal University of Science and Technology in Kabo and the Federal Polytechnic in Rano. We cannot thank him enough for these interventions.”

In his remarks, Senate President Godswill Akpabio commended Senator Barau for sponsoring the bill and thanked senators for supporting its swift passage.

He expressed optimism that President Tinubu would assent to the bill upon its transmission to him, thereby providing the university with the necessary statutory and regulatory framework to fulfil its mandate and continue contributing to national development.

Signed:
Ismail Mudashir
Special Adviser to the Deputy President of the Senate
(Media and Publicity)
October 13, 2026

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