The Economic and Financial Crimes Commission (EFCC) has revealed that politically exposed persons (PEPs) in Nigeria are using internet fraudsters, popularly known as ‘yahoo-yahoo boys’, to launder billions of naira in stolen public funds into offshore accounts. This shocking disclosure was made during a media briefing at the EFCC headquarters in Abuja on Monday by…
The Economic and Financial Crimes Commission (EFCC) on Friday arraigned Halima Buba, Chief Executive Officer of SunTrust Bank Nigeria Limited, and Innocent Mbagwu, the bank’s Executive Director and Chief Compliance Officer, before Justice Emeka Nwite of the Federal High Court, Abuja. The duo face a six‑count charge alleging money laundering to the tune of $12 million….
Three promoters of the now-collapsed and fraudulent cryptocurrency investment scheme known as “CBEX” have sought bail from the Federal High Court in Abuja following their detention in connection with an alleged $1 billion scam targeting Nigerian victims. The legal team for the three suspects, Babatunde Busari and Justice Otorudo, sought bail from Justice Emeka Nwite…
Nine Chinese nationals have been sentenced to one year imprisonment each for cyber-terrorism and internet fraud by a Nigerian federal court sitting in Lagos. The Chinese nationals were among the syndicate of 792 alleged cryptocurrency investment and romance fraud suspects arrested on December 19, 2024 in Lagos during a sting operation tagged “Eagle Flush Operation”…
The Economic and Financial Crimes Commission (EFCC) as declared two individuals wanted in connection with an online trading platform, Crybto Bridge Exchange (CBEX). The two wanted individuals are Folashade Odelana and Bamidele Ayodele Abiodun. The last known address of the two wanted persons is No 17, Oremeta Street, Allen, Ikeja, Lagos. The commission has urged…
A middle-aged man voluntarily turned himself in at the Gombe Zonal Directorate of the Economic and Financial Crimes Commission (EFCC), confessing to a ₦9 million employment scam. The suspect, identified as Idris Adamu, walked into the EFCC office on Monday and requested an audience with the Acting Zonal Director, Deputy Commander of the EFCC (DCE)…
Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has assured the Commission is working tirelessly to recover funds lost to the Crypto Bridge Exchange trading platform (CBEX) investment scheme. In a video on the EFCC’s official X handle, on Monday, Olukoyede emphasised the agency’s commitment to securing justice for the victims. He…
The Economic and Financial Crimes Commission has filed fresh charges against the embattled former governor of the Central Bank of Nigeria, Mr Godwin Emefiele. The charges, filed before a High Court of the Federal Capital Territory in Abuja, allege that Emefiele unlawfully acquired a housing estate comprising 753 units, and allegedly stole and controlled billions…
An Ikeja Special Offences Court on Tuesday sentenced Mamman Ali and Christian Taylor to 14 years’ imprisonment each over a N2.2 billion oil subsidy fraud. Ali, son of a former National Chairman of the Peoples Democratic Party (PDP), Ahmadu Ali, and Taylor were charged by the Economic and Financial Crimes Commission (EFCC). The EFCC charged…
The Federal Government, on Tuesday, disclosed that looted funds totalling $ 967.5 billion and N277 billion have been recovered in cash and assets. The Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, said the recovery was made in 2024 alone. According to him, whereas the Economic and Financial Crimes Commission, EFCC,…