The Federal High Court in Abuja on Thursday gave the Economic and Financial Crimes Commission (EFCC) the go-ahead to arrest and detain six promoters of Crypto Bridge Exchange for allegedly defrauding Nigerians of over billion dollars. Justice Emeka Nwite, who gave the order after the EFCC’s lawyer, Fadila Yusuf, moved an ex-parte motion to the…
The Economic and Financial Crimes Commission (EFCC) has said that the Special Control Unit against Money Laundering (SCUML) certificate does not necessarily imply clearance to lawfully operate in Nigeria, amid the collapse of the fraudulent cryptocurrency investment scheme known as “CBEX”. The EFCC, in a statement on Monday, admitted that ST Technologies( not CBEX) is…
The Economic and Financial Crimes Commission (EFCC) has assured individuals who invested in the CBEX digital trading platform that they would recover their funds. The commission revealed that it had been monitoring the platform even before the recent wave of public complaints. CBEX, which had promised investors a 100 percent return on investment, faced a…
Operatives of the Kaduna Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) have arrested 40 suspected internet fraudsters in separate operations carried out in Bida and Minna areas of Niger State. According to a statement by EFCC’s Head of Media and Publicity, Dele Oyewale, the arrests were based on credible intelligence linking the…
The Economic and Financial Crimes Commission (EFCC) in Tuesday assured some Nigerian investors that it was working with INTERPOL to fish out the operators of the crashed digital trading platform, CBEX.Nigerian cultural tours Adele Oyewale, the spokesperson of the commission in a statement said the EFCC has already launched a probe into the activities of…
Justice Alexander Owoeye of the Federal High Court, sitting in Ikoyi, Lagos, has convicted and sentenced a businessman, Uzondu Precious Chimaobi, to four years imprisonment for refusing to accept the Naira as legal tender. A statement by the Economic and Financial Crimes Commission (EFCC) stated that Chimaobi was arraigned on a two-count charge bordering on…
The Economic and Financial Crimes Commission on Monday arraigned a Chinese national, Liu Beixiang, also known as Lao Liu, before Justice Ayokunle Faji of the Federal High Court in Lagos, over an allegation of providing false information to a government official. Liu is facing a one-count charge bordering on deliberately supplying false information to an…
The Federal High Court in Abuja on Thursday dismissed a N5bn suit brought by 110 alleged internet fraudsters against the Economic and Financial Crimes Commission, ruling it lacked merit. The presiding judge, Justice James Omotosho, dismissed the suit on the grounds that the applicants failed to prove they had been unlawfully detained after taking arguments…
The Economic and Financial Crimes Commission, EFCC, has reacted to reports of an alleged connection between Ex-Vice President, Atiku Abubakar, Lagos State Governor, Babajide Sanwoolu and a Popular Business woman and Socialite, Aisha Achimugu, who is currently wanted by the commission for Money-Laundering and Fraud. In a statement signed by its Media Head, Dele Oyewale,…
The Economic and Financial Crimes Commission (EFCC) has declared Aisha Sulaiman Achimugu, an ally of Lagos State Governor Babajide Sanwo-Olu, wanted over allegations of money laundering and criminal conspiracy. Achimugu, who is accused of secretly funnelling funds to opposition leaders Peter Obi and Atiku Abubakar during the 2023 elections, was officially declared wanted in a…