The House of Representatives has passed a bill for the second reading, recommending a 10-year prison sentence for operators of Ponzi and pyramid schemes as well as other forms of fraudulent investments. The bill which was proposed by Chairman of the House Committee on Capital Market, Babangida Ibrahim, seeks to protect the integrity Nigerian Capital Market. Babangida Ibrahim noted that current trends in capital markets regulation, over 14 years after, have made it necessary to make major improvements to the Act so as to align the Nigerian market with international standards.

According to reports, the Economic and Financial Crimes Commission (EFCC) is questioning the Managing Director (MD) of the Assets Management Corporation of Nigeria (AMCON), Ahmed Kuru, in regards to allegations related to assets diversion and sale of assets.

The Kebbi state Government, on Sunday confirmed the release of 30 kidnapped students of Federal Government College, Kebbi state, who have been in captivity in the hands of bandits for about six months. The good news confirmed in a statement by media aide to Governor Abubakar Atiku Bagudu, Malam Yahaya Sarki said they would undergo medical screening and other supports before they would be re-united with members of their families. They arrived Birnin Kebbi, the state capital yesterday after being released by their abductors.

Dozens of people were reportedly killed in attacks across villages in Zamfara State. It was revealed that hundreds of gunmen moving on motorcycles attacked six communities on Wednesday, killing scores including aged people, women and children. The affected communities were identified as Kurfa Danya, Kurfa Magaji, Rafin Gero, Tungar Isa and Barayar Zaki in Bukkuyum and Anka Local Government Areas of the state. An anonymous source talking to newsmen said the level of destruction witnessed is yet to be ascertained by people of the communities for they are still on the run.

The Federal Government has on Wednesday formally declared bandit groups operating in Nigeria as terrorists. This comes over a month after the Federal High Court in Abuja proscribed bandit groups as Terrorists. The declaration titled "Terrorism (Prevention) Proscription Order Notice, 2021 is contained in Volume 108 of the Federal Republic of Nigeria Official Gazette. It read in part, “Notice is hereby given that by the Order of the Federal High Court Abuja, in suit No. FHC/ABJ/CS/1370/2021 dated 25th November 2021

Four inmates have reportedly lost their lives at the Nigerian Correctional Centre, Kosere Area, Ile-Ife, during an attempted jailbreak by some of the inmates who had planned to escape during the morning sanitation. A top security officer who wish to remain anonymous disclosed that the inmates had while attempting to flee the centre injured a warder and were about to force their way out when security men repelled them.