Tag: #FinancialCrime
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N123M MOTORCYCLE DEAL GONE WRONG: EFCC DRAGS BUSINESSMAN TO COURT
The Economic and Financial Crimes Commission has arraigned businessman Taiwo Sunday before an Oyo State High Court in Ibadan over an alleged N123 million motorcycle supply scam. Prosecutors say Sunday collected the money through his firm, Yemsund Enterprise, promising to supply multiple units of motorcycles—but allegedly failed to deliver or refund the cash. The petition,…
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EFCC QUIZZES ENERGY BOSS OVER ₦72M ‘FUEL DEAL’ FRAUD
The Economic and Financial Crimes Commission (EFCC) has grilled the Managing Director of Paramount Energy Ltd. over an alleged ₦72.3 million fraud linked to a failed petroleum supply deal. According to EFCC spokesperson Dele Oyewale, the suspect is being investigated for allegedly obtaining money under false pretence after a petitioner claimed he paid for fuel…
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POLICE ALERT: POS OPERATORS TARGETED IN MULTI-MILLION NAIRA FRAUD
The Kwara State Police Command has warned POS operators to stay alert as fraud syndicates step up schemes involving huge cash transfers. According to police, scammers approach agents with requests to process millions—offering small commissions to make it look legit. But behind the scenes, the transactions are tied to organised financial crimes. The danger? Many…
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EFCC ARRESTS THREE IN ILORIN OVER ALLEGED FAKE DOLLAR, POUND SYNDICATE
Operatives of the Economic and Financial Crimes Commission have arrested three suspects in Ilorin over their alleged involvement in the circulation of counterfeit foreign currencies. The suspects — Akilu Salisu, Umar Mikailu Shuaibu and Salisu Nura — were initially intercepted by officers of the National Drug Law Enforcement Agency during a routine stop-and-search operation on…
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ANAMBRA COURT JAILS ORIENT PETROLEUM MD, FOUNDATION 14 YEARS OVER FRAUD
After a decade-long trial, the gavel has finally fallen. Justice O.M. Anyachebelu of the Anambra State High Court, Awka, has convicted and sentenced Mr. Nnaemeka Nwawka, Managing Director of Orient Petroleum Resources Plc, and the Registered Trustees of Sage Nebefeife Foundation to 14 years imprisonment each over fraud linked to N25 billion investments. The conviction…
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EFCC WITNESS TESTIFIES ON $3 MILLION TRANSFER IN SUNTRUST BANK MONEY LAUNDERING TRIAL
A key EFCC witness revealed in Abuja court that he transferred $3 million into Mrs. Aisha Achimugu’s company account linked to the ongoing $12 million money laundering trial involving SunTrust Bank’s Managing Director Halima Buba and Executive Director Innocent Mbagwu. Trinity Usman, a Bureau De Change operator, admitted handling the cash transactions through his oil…
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FCC CALLS FOR STRONGER PARTNERSHIP WITH CSOs AND MEDIA TO FIGHT CYBER AND FINANCIAL CRIMES
The Economic and Financial Crimes Commission (EFCC) is urging civil society organizations and media to join forces in combating Nigeria’s rising cyber and financial crimes. Sa’ad Hanafi-Sa’ad, EFCC’s Kano Acting Zonal Director, emphasized their vital role as “critical drivers of change” in raising awareness and holding power accountable. At a workshop for CSOs and journalists,…
