Image: China digital currency

China will on January 1 launch an “action plan” for boosting management and operations of its digital currency, a deputy governor of the country’s central bank said Monday.

AFP reports that monetary authorities around the world have in recent years been exploring ways to digitalise currencies, propelled by a boom in online payments during the pandemic and the increased popularity of cryptocurrencies such as bitcoin.

People’s Bank of China (PBoC) Deputy Governor Lu Lei, said “The future digital yuan will be a modern digital payment and circulation means issued and circulated within the financial system.”

In the next step towards that goal, a “new generation” arrangement for digital yuan will be launched on January 1, Lu said, encompassing a “measurement framework, management system, operating mechanism and ecosystem”.

The “action plan” will see banks pay interest on balances held by clients in digital yuan — a move to incentivise broader adoption of the currency.

The plan also includes a proposal to establish an international digital yuan operations centre in the eastern financial hub of Shanghai, the report said.

Obinwanne Okeke, the Nigerian businessman popularly known as Invictus Obi, has been released from United States federal prison after serving approximately six years for his involvement in an $11 million internet fraud scheme, multiple reports confirmed on Thursday.

Records from the U.S. Federal Bureau of Prisons (BOP) inmate locator indicate that Okeke is listed as “Not in BOP Custody as of: 12/23/2025,” signaling his exit from federal incarceration ahead of his original projected release date of September 3, 2028.

Okeke, 38, was sentenced to 10 years in prison in February 2021 after pleading guilty to conspiracy to commit wire fraud. The charges stemmed from a sophisticated business email compromise (BEC) scheme between 2015 and 2019, where he and associates used phishing tactics to divert funds, including a major interception targeting Unatrac Holding Limited, a UK-based exporter linked to Caterpillar Inc.

Prosecutors described the operation as causing “staggering losses of about $11 million” to victims through impersonation and computer hacking.

His early release is widely attributed to good conduct credits and provisions under the First Step Act, a U.S. criminal justice reform law that allows sentence reductions for certain non-violent offenders.

Reports from outlets including Linda Ikeji’s Blog, Peoples Gazette, and BusinessDay indicate that deportation proceedings to Nigeria are underway, consistent with his non-U.S. citizen status and the terms of his plea agreement. As his crimes were federal, a transfer to state custody is considered unlikely.

Once hailed as a rising star in African entrepreneurship, Okeke founded the Invictus Group, claiming investments in construction, agriculture, oil and gas, telecommunications, and real estate across Nigeria, South Africa, and Zambia.

In 2016, he was featured on Forbes Africa’s 30 Under 30 list, celebrated for his purported success story from humble beginnings.

His 2019 arrest by the FBI at Dulles International Airport as he attempted to leave the U.S. marked a dramatic fall, sparking widespread discussions on cybercrime, the allure of quick wealth, and scrutiny of young Nigerian entrepreneurs.

With his release, questions now focus on Okeke’s future: potential supervised release conditions in the U.S., his return to Nigeria, and any ongoing restrictions.

No official statement has been issued by U.S. authorities or Okeke’s representatives regarding the exact terms of his release.

The case continues to highlight global efforts to combat BEC scams, which remain a significant threat to businesses worldwide.

The Trump administration has recalled the United States Ambassador to Nigeria, Richard M. Mills Jr., as part of a broader shake-up involving nearly 30 career diplomats serving in ambassadorial and senior embassy posts around the world.

Mills, who assumed his post in Nigeria in July 2024 during the Biden administration, is among the affected envoys who received notices last week that their tenures will end in January 2026. The move aligns with efforts to ensure U.S. diplomatic representatives fully support President Donald Trump’s “America First” foreign policy priorities.

Africa has been the most impacted region, with ambassadors recalled from 13 countries: Burundi, Cameroon, Cape Verde, Gabon, Côte d’Ivoire, Madagascar, Mauritius, Niger, Nigeria, Rwanda, Senegal, Somalia, and Uganda. Other affected regions include Asia (six countries, including the Philippines and Vietnam), Europe (four countries), the Middle East (two countries), and additional posts in South Asia and the Western Hemisphere.

Many of these diplomats were appointed under the previous Biden administration and had initially survived an earlier wave of changes that primarily targeted political appointees. Ambassadors serve at the pleasure of the president and typically hold posts for three to four years, though the administration described the recalls as a “standard process” for any new presidency.

A State Department spokesperson defended the decision, stating: “An ambassador is a personal representative of the president, and it is the president’s right to ensure that he has individuals in these countries who advance the America First agenda.”

The recalls, first reported by Politico, have raised concerns among some lawmakers and the American Foreign Service Association, the union representing U.S. diplomats. The affected career diplomats will return to Washington for potential reassignment but will no longer serve as chiefs of mission in their current postings.