Operation Sweep, a special security task force of the Federal Capital Territory Administration, FCTA, on Monday combed motor parks and other strategic locations in the FCT to flush out criminal elements.

Mr Adamu Gwary, Director, Security Services Department, FCTA, told journalists after the operation that the move was to ensure a safe and secure Yuletide season.

Gwary, who was represented by Dr Peter Olumuji, Secretary, Command and Control Centre, said that the ongoing operation would strengthen security throughout the festive season.

He explained that FCT Minister, Mr Nyesom Wike, has given a marching order to the security agencies under the Operation Sweep to rid the territory of every form of criminality.

He noted that the operation had been very successful, adding that it was being sustained through continued monitoring of motor parks.

The director also said that illegal motor parks being used by “one chance” criminal elements to abduct people were being dismantled.

“Also, any place harbouring criminal elements, including shanties, was being destroyed.

“We want to tell all miscreants and criminal elements in the FCT, that the territory will be too hot for them to operate.

“We don’t have a safe haven for criminals in FCT anymore and they should take note of that,” he said.

He added that a lot of arrests have been made, a lot of shanties dismantled, and criminal elements operating as taxi drivers dislodged.

The goal, according to him, is to ensure the safety of lives and property of every resident in the FCT during the festive season and beyond.

According to him, the administration, in partnership with security agencies, had also deployed men and officers to suspected black spots across the city to provide tight security during the festive period.

He called on operators of motor parks and event centres to ensure that those without clear identity, especially motorists, do not operate among them.

Mr Adamu Abubakar, Chairman, National Union of Road Transport Workers, Jabi Motor Park, Abuja, commended the task force for helping to rid the city of once chance operators.

Abubakar said that the move was helping to sanitize the operation of transport workers in the FCT.

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The Federal Government has stated that the recent diplomatic spat with the United States has been largely resolved.

Recall that the US President, Donald Trump had threatened military intervention over alleged mass killings of Christians in Nigeria.

However, speaking on Monday at a year-end news conference in Abuja, the Minister of Information and National Orientation, Mohammed Idris, stated that a respectful engagement with the US had led to a strengthened partnership.

He said “The recent diplomatic spat with the United States has been largely resolved through a firm, respectful engagement culminating in a strengthened partnership between America and Nigeria,” 

According to the minister, Nigeria navigated complex international diplomacy with maturity and principle in 2025.

He also recalled some bilateral Memorandum of Understanding the Federal Government has entered into with the United States to boost the nation’s healthcare.

“Just last week, the Federal Government of Nigeria signed a five-year, $5.1 billion dollar bilateral health cooperation Memorandum of Understanding (MoU) with the government of the United States.

“In the agreement, the U.S. will provide $2.1 billion dollars in grant funding, while Nigeria will commits $3 billion dollars.

“This has been described as the largest co-investment by any country to date under the America First Global Health Strategy.

“It will strengthen Nigeria’s healthcare system, save lives, and attract investment. Those who thought Nigeria’s relationships with the U.S. were going down due to the recent misunderstanding can now see that the ties are even stronger than before,” Idris said.

Idris stressed thet Nigeria is no longer on the sidelines, adding that it is a confident and strategic partner on the global stage, defending its national interests and attracting beneficial partnerships.

On diplomacy, the minister explained that Nigeria’s newly appointed ambassadors will assume duty in their respective countries of assignment in 2026, following their clearance and confirmation by the National Assembly.

Their deployment, Idris stated, would further strengthen Nigeria’s bilateral relations and enhance the country’s global visibility and strategic engagement.

“In 2026, again, our newly appointed ambassadors will take up their posts in their countries of assignment. Of course, their clearance and confirmation have just been made by the National Assembly,” Idris said.

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The Peoples Democratic Party (PDP) has constituted a Caretaker Committee to oversee the affairs of the party in Zamfara State, following approval by its National Working Committee (NWC).

This was disclosed in a public notice issued by the PDP National Publicity Secretary, Comrade Ini Ememobong on Monday.

According to the statement, the Zamfara State PDP Caretaker Committee is chaired by Hassan Muhammad Daudawa, with Shehu S. Fulani, Rabiu Illele Bakura, Musa Mallaha, Sani Lasisi Kaura, and Hajiya Hauwa Kulu Makkah serving as members, while Muhammad Danbuba will serve as Secretary.

READ ALSO:

The PDP said the committee has been mandated to run the affairs of the party in Zamfara State in line with Section 21(2)(a–b) of the PDP Constitution.

It added that the caretaker committee will operate for a period not exceeding 90 days, or until a new substantive State Executive Committee is elected, whichever comes first.

The party explained that the decision is aimed at ensuring effective administration, internal stability, and smooth coordination of PDP activities in Zamfara State.

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Nigeria’s Super Eagles closed the 2025 football calendar ranked 38th in the latest FIFA/Coca-Cola Men’s World Ranking, a modest finish that places them among the world’s top 40 but still short of Africa’s leading pack.

The December 2025 edition of the rankings, released after 42 international fixtures worldwide, reflects results from a busy period dominated by the FIFA Arab Cup Qatar 2025 and the tail end of various continental qualifiers.

Nigeria finished the year with 1,502.46 points, sitting fifth in Africa behind Morocco, Senegal, Egypt and Algeria.

This is the best in three years, as the Super Eagles finished 2023 and 2024 significantly lower, in 42nd and 44th positions, respectively.

While the Super Eagles improved their position compared to earlier updates, the ranking underlines a year of mixed fortunes.

Nigeria recorded a convincing 4–1 victory over Gabon, followed by a 1–1 draw with DR Congo, before suffering a painful penalty shootout defeat that ended their hopes of qualifying for the 2026 FIFA World Cup.

Those results provided enough points to lift the team slightly, but not enough to challenge Africa’s elite.

Memory lane

Historically, Nigeria’s current standing reflects a period of fluctuation.

According to FIFA’s ranking data, the Super Eagles’ highest-ever position is fifth, while their lowest is 82nd.

The team’s average historical ranking stands at 39th, indicating how closely their current position aligns with long-term performance trends.

Nigeria’s biggest rise in a single year has been a jump of 25 places, while their steepest fall was a drop of 27 places.

At the top of the global table, Spain remain number one, having reclaimed the summit in September 2025 and successfully defended it to end the year ahead of world champions Argentina and France.

The rest of the top 10 remained unchanged, with England, Brazil, Portugal, the Netherlands, Belgium, Germany and Croatia all holding their positions.

On the African front, Morocco continue to set the pace, ranked 11th globally after winning the FIFA Arab Cup in Doha.

The Atlas Lions are now within touching distance of the world’s top 10, trailing Croatia by just 0.54 points—their closest approach since April 1998.

Senegal, Egypt and Algeria complete Africa’s top four, keeping Nigeria firmly in pursuit rather than contention.

Further down the rankings, Jordan emerged as one of the year’s notable climbers, rising two places to 64th after finishing runners-up at the Arab Cup, while Vietnam and Singapore made the biggest jumps by rank.

READ ALSO: Top five young stars poised to shine at AFCON 2025

Kosovo stood out as the most improved team by points in 2025, thanks to an impressive unbeaten run.

In terms of confederation balance, UEFA continue to dominate the top 50 with 26 teams, while CAF maintain seven representatives—unchanged from last year.

For Nigeria, ending 2025 in 38th place offers limited consolation after the disappointment of missing out on the expanded 2026 World Cup.

With the Africa Cup of Nations now underway in Morocco, the Super Eagles have an immediate opportunity to consolidate or improve their standing.

A strong showing at the continental tournament could not only restore confidence but also push Nigeria closer to Africa’s top four—and back toward the global prominence their history suggests they belong.

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• A Nigerian lady has expressed her excitement on social media after saving up money for rent all year
• In a video, she mentioned the name of the platform where she saved the cash and rejoiced over her ability to achieve that
• Although she noted that the money wouldn’t be going for rent anymore, she still felt proud of her financial discipline during the year

A Nigerian lady earned congratulatory messages online after sharing a personal milestone with netizens.

This achievement centred on financial discipline which she developed and exhibited in the year 2025.

Piggyvest users celebrates reaching her payday.
Photo credit: @dordorbaby4/X.
Source: Twitter

Lady saves up rent on Piggyvest

In her post shared via the X app, she celebrated the completion of a year-long savings goal.

According to her, it was a feat she felt proud to achieve despite a change in how the funds would eventually be used.

Identified as @layemz on X, she disclosed that she had committed herself to setting aside money throughout the year specifically for accommodation expenses.

Read also

Mother drains bank account to fly daughter over kidnapping fears: “I would rather go broke”

She relied on the Piggyvest platform, acknowledging its role in helping her stay disciplined and organised.

Reaching the end of the savings period was a moment of pride for her, as it represented months of discipline and careful planning rather than impulsive spending.

However, she mentioned a new development, stating that the funds which were originally intended for rent, would no longer serve that purpose.

Piggyvest user over the moon as her payday finally approaches.
Photo credit: @dordorbaby4/X.
Source: Twitter

Despite this change, she emphasised that the original goal still mattered to her.

Completing the savings plan made her excited and reinforced her confidence in her ability to manage money responsibly.

For her, the success lay not in how the money would be spent, but in the fact that she stayed committed until the end.

She also expressed her joy about reaching the day that she would finally be paid by the platform.

In her words:

“Hey Piggyvest I saved up for rent all year and today is payday. Tysm! I did it!!!even tho the money won’t be going into rent anymore. I dideetttttt!!!”

Read also

Lady displays response from nanny after sending her December salary before due date, people react

Reactions as lady saves up rent on Piggyvest

Nigerians stormed the comments section to react to the post.

ObabaofNaija said:

“Even on the day of my withdrawal @Piggyvest still pulled off percentage breaking fee from my savings. Deducting over 520k.”

Sei Queen said:

“Hi please reply to this, I wanna come back here, I wanna ask you questions when I’ll be ready to start mine. Tysm.”

Angelica Grey said:

“E no go bad if you just do giveaway. 25k for 20 persons no go bad like that Sha oo.”

Miracle Adishi said:

“I’m so proud of you. I love it when people do the positive things they’ve always planned out to do waving off the obstacles.”

Victor said:

“I think I’d give @piggyvest a trial next year. The reviews I see here are good. Really enticing.”

Ajala reacted:

“You people have started again. I want to withdrew my money and now. I can’t have access to my acct.”

Read also

Nigerian lady almost in tears as she forgets international passport on day of relocation, Video goes viral

Ekundato added:

“@Piggyvest hv bn saving me for my Aus rent right from day 1.”

See the post below:

Lady discloses Piggyvest interest she got

Meanwhile, Legit.ng previously reported that a Nigerian lady who saved N50,000 daily on Piggvest mentioned the interest she got after using the Safelock feature.

Many reacted as she shared the amount currently in her account, as they questioned what she did for a living to get such savings.

Source: Legit.ng

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Tension and confusion erupts in Ekpoma, Edo State, after a corpse was reported missing from a hospital mortuary, eliciting outrage and concern among residents and the deceased’s family.

According to the family, the deceased, identified as their uncle, had been deposited at the mortuary ahead of burial arrangements.

Corpse goes missing

Trouble began when they arrived to retrieve the body and were informed that it could not be located.

The incident sparked confusion and outrage when mortuary staff allegedly presented a different body, already dressed in a coffin, claiming it was the deceased. The family rejected this, insisting that the body was not their relative’s.

Family call on government intervention

A video circulating online captured a family member appealing for urgent intervention, describing the incident as unprecedented and calling on authorities, including the Edo State government, to step in and resolve the matter.

The lady said …

“I have never seen this kind of a thing before o. You people should come to our rescue. Edo state governor, please help us. This is happening live in Ekpoma. We deposited our co-rpse here. My uncle to be precise. We came to pick up the body, till now the b0dy is nowhere to be found. The mortuary attendant dressed for us another person into the coff!n.”

As of the time of reporting, it remains unclear how the corpse went missing, and there has been no official statement from the hospital management.

Watch video below …

Gbege ti sele!!!

Family cries out as a relative’s c0rpse reportedly goes missing from a hospital m0rtuary in Ekpoma, Edo State 🤯🙆 pic.twitter.com/tw3GZjWeyG

— EJIKEME🇳🇴🇳🇬 (@ejykmykel1) December 21, 2025

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The Peoples Redemption Party (PRP) has restated its call for the impeachment of President Bola Tinubu if indeed was found culpable in the distortion of tax laws.

The party condemned what it described as the blatant executive misconduct and flagrant disregard for constitutional sovereignty exhibited by the current administration in the alleged recent manipulation of Nigeria’s tax laws.

LEADERSHIP reports that the House of Representatives has constituted a seven-member ad-hoc committee to investigate the discrepancies between the tax laws passed by the National Assembly and the gazetted versions.

Rising under Order 6, Rule 2 of the House Rules on a Point of Privilege, Hon. Abdulsammad Dasuki (PDP Sokoto), claimed that his legislative privilege was breached, as the content of the tax laws as gazetted is not the same as the one voted on and passed on the floor of the House.

Reacting to the development, the PRP said if evidence emerges implicating President Tinubu in the alleged manipulations, he should be immediately impeached without delay as no individual, including the president is above the law.

The opposition party in a statement by its national chairman, Falalu Bello, said the situation showed that the executive arm has clandestinely altered bills after passage by the National Assembly without legislative approval.

According to him, the action is a dangerous pattern of executive impunity that threatens the very foundations of Nigeria’s democracy and due process.

“This audacious act of executive dishonesty, characterized by the insertion, deletion, and modification of substantive provisions post-passage legislation, underscores a reckless disdain for the rule of law, separation of powers, and the constitutional order. It is an unforgivable breach of trust, a mockery of the Nigerian people, and an open assault on the integrity of our legislative process.

“The PRP condemns this act as not only illegal but as a direct attack on the independence of the legislature and the constitutional rights of Nigerians to transparent and accountable governance. The executive’s actions reveal a disturbing tendency to undermine the sanctity of parliamentary procedures, defraud the nation, and arrogantly impose illegality under the guise of national interest. Such conduct erodes public confidence, fuels uncertainty, and exposes Nigeria to avoidable instability in all aspects of our national life.

“In light of these grave developments, the PRP calls for a comprehensive and transparent investigation of these alterations and additions to the already passed Act of Parliament to identify and punish all those responsible for this egregious misconduct. We insist that those found culpable, regardless of their position, must be held accountable and face appropriate punishment for their fraudulent conduct.

“If evidence emerges implicating President Bola Ahmed Tinubu in these illegal manipulations, the PRP calls for his impeachment without delay. No individual, including the President, should be above the law,” the party said.

It further demanded the immediate suspension of the implementation of the disputed tax laws until all discrepancies—particularly the conflicts between the laws passed by the National Assembly and those gazetted—are thoroughly examined, resolved, and rectified.

“Should this matter not be addressed promptly, the PRP will have no choice but to seek judicial intervention. We are prepared to approach the courts to stop the enforcement of these laws and seek appropriate redress for the violations committed,” he stated.

The PRP chairman emphasised that the rule of law and constitutional integrity must take precedence, saying until these issues are resolved, the suspension of the tax laws is imperative to prevent further damage to Nigeria’s democratic fabric and economic stability.

“The PRP warns that unless urgent and decisive steps are taken, this administration’s blatant disregard for constitutional order will deepen the crisis of governance, erode accountability, and further diminish Nigeria’s credibility on the global stage. We call on all patriotic Nigerians, civil society organizations, and the legislative arm to stand firm against this assault on our democracy.

“The PRP affirms that no government, regardless of political inclination, is above the law. The current breach must be met with unwavering resolve to defend Nigeria’s constitutional integrity, uphold the rule of law, and restore public confidence in our institutions. Anything less would be a betrayal of the Nigerian people and a capitulation to executive tyranny.

“We stand with the Nigerian people and call on all relevant authorities to ensure that justice prevails, that constitutional order is restored, and that this dangerous precedent is decisively overturned,” PRP added.

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The former southeast spokesman to President Bola Tinubu and Chairman of forum of former members of Enugu Assembly, Denge.Josef Onoh, had strongly defended the Economic and Financial Crimes Commission (EFCC) investigation of the former Attorney-General of the Federation (AGF) and Minister for Justice, Malam Abubakar Malami.

In a statement from his residence in Marne-la-Vallée Paris, Onoh said the current investigation by the EFCC was no witch-hunt or politically motivated. 

Onoh, while recalling Abubakar Malami’s background prior to his appointment as AGF in 2015, said that his career was primarily that of a dedicated legal practitioner and politician from Kebbi State. 

Born on April 17, 1967, in Birnin Kebbi, Malami received a solid education, blending Islamic and Western systems, culminating in an LL.B from Usmanu Danfodiyo University (1991), and was subsequently admitted into the Nigerian Bar (1992), and elevated to Senior Advocate of Nigeria (SAN) in 2008. 

Onoh further said that Malami’s professional career centered on private legal practice, including roles at firms such as K.T. Turaki & Co., as a magistrate and state counsel in Kebbi, and as principal partner of A.A. Malami & Co. (2002–2015), a litigation-focused chambers handling civil, criminal, and commercial cases without any record of massive financial payoffs from successful litigations.

He recalled that Malami was also actively involved in opposition politics, serving as National Legal Adviser to the Congress for Progressive Change (CPC), contributing to the formation of the All Progressives Congress (APC) in 2013, and contesting (unsuccessfully) the APC governorship ticket in Kebbi in 2014. 

“I therefore challenge Malami to make public his asset declaration prior to 2015,” Onoh challenged.

Onoh said that there are no credible public records of Malami owning or operating substantial private businesses—such as hotels, universities, rice mills, or large-scale investments—before his appointment as AGF. 

“His pre-2015 wealth and income appear tied exclusively to his successful legal practice and modest public service roles. He established philanthropic foundations like the Kadi Malami and Khadimiyya Foundations for community development, but these were charitable, not commercial ventures and this was the Abubakar Malami I know.

“However, after serving as AGF from 2015 to 2023, Malami has been linked to an extensive portfolio of high-value assets, including the multi-billion naira Azbir Hotel and Azbir Arena in Birnin Kebbi (recently taken over by police amid probes), Rayhaan (or Rayhan) University, Rayhaan Rice Mill, private academies and multiple properties in Abuja, Kano, and Kebbi. 

“These assets, estimated in petitions to the EFCC at over ₦10 billion, which I personally believe were underestimated, are alleged to be disproportionate to his known legitimate earnings before and during public office.” 

Onoh said that this sudden accumulation of wealth, emerging prominently post-tenure, raises serious questions about its sources and legitimacy—questions that rightfully demand thorough investigation by the EFCC.

Onoh further stated that the ongoing EFCC probe, as of December 2025, focuses on allegations including abuse of office, money laundering, mismanagement of recovered Abacha loots (notably claims of duplication in recovering $310–$322.5 million tranches and questionable legal fees of up to $16.9 million paid to associates), and unexplained assets and not a witch-hunt.

“While he denies wrongdoing, describing the probe as politically motivated “witch-hunt” tied to his recent political activities, I make bold to say that Malami welds no strong political influence in kebbi state to warrant any witch-hunt by even a local government chairman in his state, let alone the EFCC and his calls for the EFCC Chairman’s recusal is simply laughable.  

“His continuous reference to chapter 9 of the Justice Salami Report only shows the desperation of a drowning man, let me make clear to Malami that the said justice Salami Report was so beneficial to the progress of Nigeria yet he withheld it all these years and only now he thinks it serves his personal purpose that it becomes relevant.  

“In a country like China, such revelation by Malami would have earned him a death sentence for sabotaging a nation. One can not come to a document and only accept a page that benefits him, you either accept as a whole or refuse as a whole. The petitions from credible groups like HEDA and others warrant independent scrutiny.”

Onoh challenged Malami to refute his narrative of his humble beginnings prior to his unexplainable wealth, which the EFCC in discharge of their mandate will soon explain which onoh said will be more explosive than Abacha’s loot. 

Onoh furthermore said that the Malami he knew was actively engaged in politics, particularly with opposition parties leading to the formation of the All Progressives Congress (APC):

“Malami was appointed Attorney-General of the Federation (AGF) and Minister of Justice by late President Muhammadu Buhari, becoming the youngest minister in the cabinet at age 48. He was re-appointed in 2019 and served until May 2023.

“Prior to this role, the Malami I know was primarily a prominent private legal practitioner in Northern Nigeria, a senior advocate with public service experience, and an influential figure in opposition politics contributing to the APC’s formation.”

Onoh challenged Malami to provide any credible records indicate involvement in high-profile federal roles or Tax payments of a successful thriving business venture before 2015.

“Malami’s attempts to discredit the EFCC—alleging bias, vendetta, and intimidation—appear designed to deploy every resource at his disposal to blackmail and undermine the agency. As a former Chief law officer, he should submit fully to investigation rather than resist or deflect.”

Onoh said that his hypocrisy is stark when recalling Malami’s role in the controversial naira redesign policy of 2022–2023. Himself, late Gov.Rotimi Akredolu of blessed memory and  Mallam Nasir El-Rufai (then Governor of Kaduna), were the only Governors that were bold to support his stand against naira design solely aimed at frustrating  Bola Tinubu’s presidential ambition to the detriment of all Nigerians publicly opposed the policy, highlighting its devastating hardship on ordinary Nigerians, questionable timing ahead of elections, and potential political motivations. 

“I recall El-Rufai described it as a mistake that deceived President Buhari and caused unnecessary suffering. I publicly attack the then CBN governor Godwin Emefiele (currently under investigation) and Malami especially for misleading Buhari into unconstitutional actions, such as bypassing consultations with the National Council of State or Federal Executive Council. I called the both   “public enemies” for defending the policy amid public hardship. The Supreme Court ultimately ruled (March 3, 2023) the policy unconstitutional in parts, extending old notes’ validity to December 31, 2023, Yet same  Malami vigorously defended it in court and publicly, even as the federal government under his legal advice disregarded Supreme Court interim orders suspending the deadline, leading to contempt threats and eventual ruling that parts were unconstitutional and criticizing late President Buhari’s unilateral directives.

“Later, the presidency (March 2023) stated that Buhari never instructed Malami or Emefiele to disobey court orders. This speaks volumes about the moral and professional character of the man that’s today accusing and blackmailing the EFCC and the Chairman of witch-hunt. He is safer under EFCC custody than at the mercy of Nigerians. Him and his convoy was attacked and nearly killed by the mob in his hometown resulting from the frustrations he subjected Nigerians under his watch while living in unearned opulence.

“Finally, as the custodian of the law tasked with recovering and protecting national assets—including billions in Abacha loots—Malami stands accused of re-looting or mismanaging the very funds he was mandated to safeguard. This betrayal of public trust is profound.

“Every right-thinking Nigerian must rise in defence of the EFCC. Allow the agency to perform its statutory duty without fear or favour. Corruption fights back fiercely, but accountability must prevail for Nigeria’s progress,” Onoh stated.

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The Minister of Information and National Orientation, Mohammed Idris, has announced that Nigeria’s newly appointed ambassadors will assume duty in their respective countries in 2026, pending final clearance and confirmation by the National Assembly.

Idris disclosed this on Monday while briefing journalists at an end-of-year press conference in Abuja.

According to him, the deployment of ambassadors will strengthen Nigeria’s bilateral relations, boost the country’s global visibility and deepen strategic engagement.

“In 2026, our newly appointed ambassadors will take up their posts in their countries of assignment.

“Their clearance and confirmation have just been completed by the National Assembly,” Idris said.

He noted that the decision followed public pressure for diplomatic postings and said President Bola Ahmed Tinubu had responded to those concerns.

“For months, there were cries and agitation for ambassadors to be put in their posts. President Bola Ahmed Tinubu has fulfilled that,” he said.

Idris added that while several stages of the deployment process had been completed, outstanding elements would be concluded next year.

“The remaining part will be carried out in 2026,” he noted.

He stressed that the postings would reinforce Nigeria’s diplomatic presence across sectors and advance national interests abroad.

Politics Nigeria recalls that the Senate confirmed 64 of President Tinubu’s ambassadorial nominees, including former Minister of Aviation Femi Fani-Kayode and former presidential aide Reno Omokri, after adopting the report of the Senate Committee on Foreign Affairs, which affirmed all nominees as suitable.

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Ghana’s parliament has approved the legalization of cryptocurrency, marking a significant step toward regulating the fast-growing digital asset market in the country.

The move addresses concerns raised by the Bank of Ghana over the widespread, unregulated use of virtual currencies.

The central bank is seeking to enhance transparency and oversight in the crypto sector following reports that nearly 3 million Ghanaians—about 17% of the adult population—are involved in cryptocurrency transactions.

What BOG Governor is saying 

The passage of the Virtual Asset Service Providers Bill will pave the way for licensing crypto platforms and supervising their activities, Bank of Ghana Governor Johnson Asiama announced over the weekend in Accra.

He said this trend has direct implications for the management of the cedi, Ghana’s official currency.

Asiama emphasized that the new law will ensure that “emerging activity is brought within clear, accountable, and well-governed boundaries.”

Benefits for businesses and consumers 

Governor Asiama added that regulatory oversight will “lower costs for banks, improve customer experience, support small and medium-sized enterprises and traders.” 

By formalizing the sector, the Bank of Ghana hopes to balance innovation with financial stability, while creating a safer environment for investors and businesses engaging in digital assets.

Ghana’s crypto market in context 

Crypto transactions in Ghana reached $3 billion in the year through June 2024, according to estimates by Web3 Africa Group, an Accra-based company planning to establish crypto exchanges across the continent.

In comparison, Nigeria recorded $59 billion in crypto trades during the same period, accounting for nearly half of sub-Saharan Africa’s total volume of $125 billion.

What you should know 

In October, the Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, had said that Nigeria witnessed cryptocurrency transactions exceeding $50 billion between July 2023 and June 2024.

With an exchange rate of N1,500 to the Dollar, the amount translates into N75 trillion, about two-thirds of the capitalization of the Nigerian equities market capitalization of N98.8 trillion as of Friday, October 24.

Speaking at the annual conference of the Chartered Institute of Stockbrokers, Agama said the sheer volume of digital asset activity underscores both the financial sophistication and risk appetite of Nigerian investors — a demographic the traditional capital market has failed to attract.

Despite this vibrant crypto engagement, the SEC boss lamented that fewer than four per cent of Nigeria’s adult population actively invests in the country’s capital market.

While less than three million Nigerians are registered market participants, he noted, over 60 million citizens engage daily in gambling, wagering an estimated $5.5 million every day.

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