Foreign News
BREAKING NEWS: Federal Bureau of Investigation, FBI charges Nigerian, others over $41m insider trading, market manipulation
A Nigerian is among five suspects charged by the United States Federal Bureau of Investigation, FBI, over “insider trading and market manipulation on a massive scale” put at $41 million.....TAP TO CONTINUE READING
The suspects are Izunna Okonkwo, a Nigerian; Muhammad Saad Shoukat, Muhammad Arham Shoukat, Muhammad Shahwaiz Shoukat, and Daniyal Khan, all Pakistanis.
Another suspect, Gyunho Justin Kim, is being tried over another complaint.
According to the FBI, “Saad Shoukat … tipped off … Arham Shoukat, Shahwaiz Shoukat, Khan, and Okonkwo — who traded and profited from the MNPI (material non-public information).
“Overall, Saad Shoukat and his co-conspirators received illicit profits from the Insider Trading Scheme totaling at least $41 million.”
Shoukat got the MNPI from Kim who “worked at an investment bank that was involved in multiple mergers and acquisitions of publicly traded healthcare and biopharmaceutical companies.
“Kim obtained MNPI about many of these pending deals, either by working on deals directly or from others who did.”
He then shared MNPI on about nine of the deals with Saad Shoukat, who “traded on that information by himself and through others.”
The FBI said the suspects were charged to court in a case that stemmed from “three overlapping securities fraud schemes that occurred at various points from June 2020 through February 2024”.
“The FBI takes allegations of insider trading with the utmost seriousness,” said FBI Newark Special Agent in Charge, Stefanie Roddy.
“Shoukat and his co-conspirators benefitted greatly from their years-long scheme, and cheated the system to reap their rewards. As complex as a financial fraud scheme is, the FBI will endeavor to stay one step ahead of these alleged criminals.”
Breaking News
BREAKING NEWS: Burkina Faso Government finally releases 11 detained Nigerian Air Force personnel
Burkina Faso has released 11 Nigerian Air Force (NAF) personnel who were held by its authorities, following intense diplomatic efforts by the Federal Government of Nigeria.....TAP TO CONTINUE READING
The personnel had been detained for several days before their eventual release after high-level engagements in Ouagadougou.
Release Follows High-Level Diplomatic Intervention
The release came after a Nigerian delegation led by the Minister of Foreign Affairs, Ambassador Yusuf Tuggar, held talks with Burkinabè authorities, including Burkina Faso’s leader, Captain Ibrahim Traoré.
The mission focused on easing tensions and resolving the matter through dialogue.
Burkina Faso finally releases 11 detained Nigerian Air Force personnel
Foreign Affairs Ministry Confirms Development
The spokesperson for Nigeria’s Ministry of Foreign Affairs, Kimiebi Ebienfa, confirmed the development shortly after the delegation wrapped up meetings in Ouagadougou.
He stressed that diplomacy played a key role in the outcome.
According to him, “The release of the Nigerian Air Force personnel reflects the success of constructive dialogue and Nigeria’s commitment to peaceful engagement with its neighbours.”
Delegation Included Defence and Air Force Officials
The Nigerian team was made up of senior officials from the Ministry of Foreign Affairs, the Ministry of Defence, and the Nigerian Air Force Headquarters.
They were mandated to pursue a peaceful resolution through sustained engagement and mutual understanding.
Reports indicate that the delegation worked closely with Burkinabè officials to clarify issues surrounding the detention and prevent further escalation.
Nigeria Reaffirms Commitment to Regional Cooperation
A senior official familiar with the mission said the visit was also aimed at reinforcing Nigeria’s respect for international aviation and military rules while strengthening regional ties.
“The mission points to Nigeria’s preference for diplomacy and neighbourly engagement. It was a confidence-building visit designed to strengthen trust and reaffirm shared responsibilities in addressing the complex security challenges confronting the Sahel,” the source said.
Optimism Over Stronger Bilateral Relations
Officials on both sides expressed optimism that the successful resolution would further deepen cooperation between Nigeria and Burkina Faso.
The delegation reportedly reaffirmed Abuja’s commitment to regional security collaboration, dialogue, and respect for international norms, especially within the Sahel region.
The incident is expected to strengthen trust and boost collective efforts to promote peace, stability, and security across West Africa.
FG Earlier Dismissed Espionage Claims
Before the release, the Nigerian government had rejected online claims that a Nigerian Air Force C-130 aircraft was forced to land in Burkina Faso over alleged spying activities.
Authorities described the reports as false and misleading.
They also dismissed claims that the detained personnel were intelligence officers involved in covert operations, insisting the mission was routine and in line with international standards.
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Breaking News
HISTORY!! HISTORY!! Check Out The Oldest Country in Africa That’s Existed Nearly 2,000 Years Longer Than Egypt
The continent has a vast history spanning thousands of years, and one place has fended off invaders for the most part.....TAP TO CONTINUE READING
Ethiopia has a very long history spanning thousands of years.
Africa’s more recent history has been dominated by colonization and passionate conversations are being had about the lasting impact of the slave trade when considering 21st century global affairs. But the continent has a long a varied history that took place before the mass land grab by European empires, with the Egyptians probably the most widely known about and referred to ancient civilization on the continent. Lasting for more than 3,000 years – between 3100 BCE and 30 BCE – Brits are familiar with its pharaohs, pyramids, hieroglyphs, mummification processes, and complex religious beliefs.
These have inspired many a film, such as The Mummy series starring Brendan Fraser and Rachel Weisz, and not always accurate portrayals of the culture have appeared abundantly elsewhere. However, what you may not know is that documentary evidence suggests that the first kingdom on the continent was that of Aksum, in northern Ethiopia. Likely emerging at some time in the second century, it means Ethiopia is considered to be the oldest independent country in Africa, and one of the most ancient in the world.
Tourists looking at columns with hieroglyphs.
Europeans have long been fascinated by Egyptian culture.
Egpyt was not an independent nation until 1922 under King Fuad I, even though Britain, which colonized the land, had some influence until the 1950s.
Ethiopia is also the second largest state in Africa in terms of population.
Other than a five-year long occupation by Italy under Benito Mussolini, it has never been colonised.
After defeating the Italians at the Battle of Adwa, it ousted them once again in 1935–36 when it was invaded and occupied during the prelude to the Second World War.
Today, the country holds territory that was consolidated during the 19th and 20th centuries, as imperial European countries carved up Africa.
Ethiopia is thought of as Africa’s oldest independent country.
It has therefore served as a symbol of African independence throughout the continent’s colonial period, the BBC reports.
Ethiopia was a founding member of the United Nations (UN), and has acted as the African base for multiple international organisations.
Foreign News
BREAKING: United States government Reveals Top Reasons Why Restrictions Was Expanded on Nigerians From Entering the US — Trump’s Govt
The United States government has revealed that Nigeria was added to its expanded travel restrictions list over concerns bordering on terrorism-related security risks and high visa overstay rates.....TAP TO CONTINUE READING
According to U.S. authorities, the presence and activities of extremist groups such as Boko Haram and the Islamic State in parts of Nigeria have created challenges for effective screening and vetting of travellers.
The decision was also influenced by data showing elevated visa overstay figures, with Nigeria recording a 5.56 per cent overstay rate for B-1/B-2 visas and 11.90 per cent for F, M and J visas.
“Radical Islamic terrorist groups such as Boko Haram and the Islamic State operate freely in certain parts of Nigeria, which creates substantial screening and vetting difficulties. According to the Overstay Report, Nigeria had a B-1/B-2 visa overstay rate of 5.56 percent and an F, M, and J visa overstay rate of 11.90 percent.”
Tribune Online reports that United States President, Donald Trump, approved the expanded travel restrictions under a new proclamation aimed at strengthening national security and public safety.
A White House statement said the proclamation retains full entry restrictions on nationals of 12 countries earlier classified as high risk: Afghanistan, Burma, Chad, Republic of the Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan, and Yemen.
Five more countries: Burkina Faso, Mali, Niger, South Sudan, and Syria were added to the list of nations facing full restrictions following a recent security review.
The measures also apply to individuals travelling with documents issued by the Palestinian Authority.
Laos and Sierra Leone, which were previously under partial restrictions, have now been placed under full entry limits, while partial restrictions remain for Burundi, Cuba, Togo, and Venezuela.
The proclamation lifts the ban on nonimmigrant visas for Turkmenistan, citing improved cooperation with the United States, but maintains restrictions on immigrant entry for Turkmen nationals.
Nigeria is among 15 countries newly placed under partial restrictions, alongside Angola, Antigua and Barbuda, Benin, Cote d’Ivoire, Dominica, Gabon, The Gambia, Malawi, Mauritania, Senegal, Tanzania, Tonga, Zambia and Zimbabwe.
The policy provides exemptions for lawful permanent residents, existing visa holders and specific categories such as diplomats and athletes, as well as individuals whose entry is considered to serve U.S. national interests.
It also tightens family-based immigrant visa exemptions viewed as vulnerable to fraud, while allowing case-by-case waivers.
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