EFCC
Man Sentenced to 63 Years in Prison for Fraud
In a landmark judgment aimed at reinforcing Nigeria’s fight against financial crimes, the Oyo State High Court sitting in Ibadan has sentenced one Olaniyan Gbenga Amos to 63 years in prison for orchestrating a large-scale investment fraud that defrauded numerous Nigerians of over one billion naira. Justice Olusola Adetujoye, who presided over the case, handed […]
Tinubu Tried to use EFCC to suppress me like a criminal – Ex-NHIS boss Yusuf
Tinubu’s government deliberately denied me bail to shake me up… all to try and silence me. But I am not someone who can be silenced Professor Usman Yusuf, who served as NHIS’s Executive Secretary before President Bola Tinubu took office, has claimed that the current administration is trying to silence him by using the Economic […]
EFCC Blasts Motivational Speaker Over Outrageous $18,000 Mentorship Fee
The Economic and Financial Crimes Commission (EFCC) has strongly criticized a controversial mentorship programme launched by a Nigerian motivational speaker, Stephen Akintayo, who demanded a staggering $18,000 (approximately ₦30 million) for enrollment. The anti-graft agency warned Nigerians to be cautious of investment schemes that could put them at financial risk. The EFCC controversy erupted after […]
EFCC Denies CBEX Regulatory Role in Online Business Operations
The Economic and Financial Crimes Commission (EFCC) has categorically denied being a regulatory or clearing agency for online business platforms, in response to widespread public concern surrounding the controversial activities of Crypto Bridge Exchange (CBEX). The anti-graft agency issued this clarification following the unravelling of a massive investment scam allegedly perpetrated by promoters of CBEX, […]
Court Slams N220m Contempt Charge Against CBN Governor
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, and the apex bank’s Director of Legal Services, Salam-Alada Kofo, are currently facing a contempt of court suit at the Federal High Court in Abuja. The suit, filed by Melrose General Services Limited, accuses the CBN and its top officials of failing to fully […]
Court Orders Forfeiture of N6.6bn Shares Linked to Ponzi Scheme
In a significant legal development, a Federal High Court in Lagos has ordered the final forfeiture of 2,041,087,747 units of shares in Livingtrust Mortgage Bank Plc, formerly known as Omoluabi Mortgage Bank Plc, worth approximately N6.67 billion. This decision marks a major victory for the Economic and Financial Crimes Commission (EFCC) in its ongoing efforts […]
EFCC Arrests 40 Suspected Internet Fraudsters
The Economic and Financial Crimes Commission (EFCC) has apprehended 40 suspected internet fraudsters in Niger State, following a series of raids conducted by its Kaduna Zonal Directorate. The arrests were made across the Bida and Minna Local Government Areas of the state, with the suspects linked to a syndicate involved in cybercrime activities. The operation, […]
EFCC Probes N1.3trn CBEX Investment Fraud
We had our intelligence before the incident. We were already working on it, but now that the scheme has collapsed, the major actors and their collaborators will be brought in. An extensive investigation into an alleged ₦1.3 trillion scam that was carried out through the digital investment platform, CryptoBank Exchange (CBEX), has been launched by […]
Naira Abuse: Make-up Artist Jailed for Disrepecting Nigerian Currency
A Federal High Court in Kano has sentenced a make-up artist, Abdullahi Musa Huseini, also known as Amuscap, to six months imprisonment for abusing and mutilating the Nigerian currency. Huseini pleaded guilty to a one-count charge bordering on Naira abuse, brought against him by the Economic and Financial Crimes Commission (EFCC). The EFCC had received […]
EFCC Creaks Down on Bank Account Fraud, Nabs Suspect
The Economic and Financial Crimes Commission (EFCC) has arrested Olawole Sunday, a suspected internet fraudster, for buying bank account details from individuals to perpetrate financial crimes. Sunday’s modus operandi involved recruiting young people to open multiple bank accounts, paying them between N25,000 and N50,000 for each account, and collecting their full banking details, including Automated […]