Alleged N950m Fraud: Court Adjourns Trial of Two Suspected Forex Fraudsters Till Oct 28

Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on Monday, July 1, 2024, adjourned till October 28, 2024 further hearing in the trial of one Alhaji Usman Abubakar  and  Young Alhaji Foundation over an alleged N950m  forex fraud.

Abubakar, alongside Young Alhaji Foundation, is being prosecuted by the Economic and Financial Crimes Commission, EFCC, on a five-count charge bordering on obtaining money by false pretence and stealing to the tune of N950 million.

One of the counts reads: "Alhaji Usman Abubakar, Young Alhaji Foundation and Dr. Abu Omer Fawaz (at large), sometime in September 2022, within the jurisdiction of this Honourable Court, conspired amongst yourselves to obtain the sum of N950, 000,000 from Ano Farms Limited under the false pretence that you had the dollar equivalent of the said sum, which pretence you knew to be false."

Another count reads: "Alhaji Usman Abubakar and Young Alhaji Foundation, on the 20th of September 2022, within the jurisdiction of this Honourable Court, attempted to dishonestly convert the sum of N180,000,000.00 (One Hundred and Eighty Million Naira), property of Ano Farms Limited to the use of Abdullahi Mohammed."

He pleaded "not guilty" to the charges when he was first arraigned on February 22, 2023.

Under cross-examination by counsel to the second  defendant, G. C. Ugwunweze at Monday proceedings, the first  prosecution witness, PW1, Niyi Oyewole, who is the nominal complainant and Managing Director of Ano Farms Limited,  again re-affirmed his testimony that Fawaz linked him up with the defendant and that he, thereafter, transferred the money to him.

He, however, stated that when the dollar equivalent was not forthcoming, Fawaz told him that Young Alhaji had been instructed to return the funds.

During the proceedings, Ugwunweze tendered some documents regarding a related case before the Lagos State High Court sitting in Ajah as well as a letter to the bank on payment instruction.

They were admitted as exhibits p4, p5 and p6, respectively.

Justice Dada adjourned the case till October 28 and 29, 2024 for continuation of trial.

Source: EFCC 

How EFCC Arrests Two Former Bankers for Stealing Dead Customer’s Money in Makurdi

Operatives of  Makurdi Zonal Command of the Economic and Financial Crimes Commission, have arrested two former staff of  Union Bank in Makurdi for allegedly stealing the sum of  N4,199,500.00 (Four Million One Hundred and Ninety Nine  Thousand Five Hundred Naira)  belonging to a deceased customer of the bank.

 

The suspects, Idah Ogoh and Agbo Okwute were arrested on Friday,  June 21, 2024 in Makurdi, Benue State.

 

Their arrest followed  a petition against them by the bank on  fraudulent debits on a deceased customer,  Emmanuel  Azer Agenna’s  account. Their dealings were uncovered when the family of the deceased approached the bank for the balance on the account of the deceased for probate processing. The family disputed the balance given to them by the bank and subsequently sent a complaint to the bank regarding unauthorised debits on the account. 

 

Based on their complaints, the bank  carried out an  internal investigation  and its findings revealed that a debit card  was procured on the deceased’s customer account on May 10, 2023 by Ifah Ogoh,  one of the bank’s Sales and Service Associates  which was authorised by the bank on the same date.

Further findings by the bank showed that the procured card by Ogoh was handed over to another Sales and Service Associates,  Agbo Omwute who eventually delivered the card to an accomplice for transfer and withdrawal of  funds from the account of the deceased. Several withdrawals were allegedly made by the suspects through the  accomplice 

    

The suspects would be charged to court as soon as investigations are concluded.

Source: EFCC 

Abuja mechanic village on fire as soldier stabs mechanic to death

Abuja mechanic village on fire as soldier stabs mechanic to death

Kugbo mechanic village, located along the Keffi-Abuja road, is currently on fire following the death of a mechanic identified as Yellow Bobo.

Yellow Bobo was allegedly stabbed to death by a soldier during an argument, after which the soldier fled the scene.

The incident has sparked a crisis in the area, with an angry mob allegedly setting the soldier’s vehicle on fire.

Binance Executive loses Fundamental Suit against EFCC

Justice Inyang Ekwo of the Federal High Court, Abuja, on Wednesday, June 19, 2024 dismissed the fundamental rights enforcement suit filed by the Africa Regional Manager of Binance Holdings Limited, Nadeem Anjarwalla (at large), against the Economic and Financial Crimes Commission, EFCC and the National Security Adviser.

Justice Ekwo, in a short ruling, dismissed the suit for lack of diligent prosecution.

At the last court’s session, March 28, 2024, Anjarwalla’s counsel, Tonye Krukrubo (SAN), had sought leave of the court to withdraw his appearance in the matter and the application was granted.

He said the matter was adjourned till Wednesday, June 19, 2024 for mention but no lawyer appeared for the applicant.

The Binance Executive and his colleague, Tigran Gambaryan, had filed separate human rights enforcement suits against the EFCC and NSA, seeking an order to release them from detention.

The two crypto-exchange executives, in the suits marked: FHC/ABJ/CS/355/24 and FHC/ABJ/CS/356/24, sued the ONSA and EFCC as first and second respondents.

Kukrubo, whose appearance on Wednesday was solely for Gambaryan, moved a motion seeking to amend his client-originating process, a request the EFCC lawyer, Olarewanju Adeola, opposed.

Justice Ekwo, however, granted Krukrubo’s request to amend his application.

He held that parties, by law, were entitled to amend their processes before judgment.

The court, however, fined Gambaryan the sum of N50, 000 to be paid to the EFCC for joining issues in the matter.

Justice Ekwo held that the fine must be paid before the next adjourned date of July 9.

Both Anjarwalla and Gambaryan, in their separate fundamental rights enforcement applications, sought a declaration that their detention and the seizure of their international travel passport contravened Section 35 (1) and (4) of the 1999 Constitution (as amended).

They claimed the act amounted to a violation of their fundamental rights to personal liberty as guaranteed by the constitution, among others.

Anjarwalla and Gambaryan are both United States citizens working for Binance, a crypto exchange platform.

The duo were arraigned on a 5-count charge bordering on alleged tax evasion, currency speculation and money laundering to the tune of $34,400,000 (Thirty-Four Million, Four Hundred Thousand United States Dollars).

When they were first arrested, they were kept in the custody of the NSA, however, Anjarwalla absconded from lawful custody on March 22, 2024, to Kenya.

Source: EFCC 

NDLEA bursts Lagos warehouse, seizes N4.7billion cocaine, meth, arrests siblings in Aba

The National Drug Law Enforcement Agency (NDLEA) announced that its special operation unit has taken down a cartel controlled by a drug baron, 49-year-old Kelechi Monday Nwaobasi, and his 50-year-old elder sister, Ms. Chinwe Rose Nwaobasi.

The NDLEA said the development followed the arrest of the suspects’ siblings and the seizure of cocaine and methamphetamine consignments worth over N4.1 billion in street value from their hideout in Aba, Abia State.

EFCC Charges Casino, Gaming Operators on Compliance With AML/ CFT Regulations

The Economic and Financial Crimes Commission, EFCC, has charged operators in both the casino and gaming sectors in the country to comply with  Anti-Money Laundering and Counter Terrorism Financing (AML/CFT) laws in their operations.

This call was made in Lagos on Thursday, June 13, 2024 at a workshop tagged “Promoting Implementation of Customer Due Diligence and Targeted Financial Sanctions (TFS) Requirements in Casinos and Gaming Sector" organized by the Special Control Unit against Money Laundering (SCUML), a Department in the EFCC.

Speaking at the occasion, Michael T. Wetkas,  acting Lagos Zonal Director of the EFCC,  who declared the workshop open, said: “ We acknowledge and appreciate your significant contributions to the nation's economic growth.  However, we urge you to ensure that your operations align with the provisions of the law”.

Wetkas, who was represented by Richard  Adejumo, Head, Foreign Exchange Malpractices Section, EFCC, Lagos Zonal Command, added that “Our goal is to support Nigeria's efforts to exit the FATF (Financial Action Task Force) list. A key area of focus is enhancing Know Your Customer (KYC) practices, which will help prevent Politically Exposed Persons (PEPs) from using your platforms for money laundering and embezzlement."

Earlier, Pascal Samu, acting Deputy Director, SCUML, EFCC Headquarters, said: “This event must be seen as part of the continued partnership between SCUML and  stakeholders in the gaming industry towards the development of an effective, sustainable and mutually beneficial AML/CFT supervision of the sector in Nigeria.”

He further explained that as industry operators, they must continue to promote the adoption of measures, such as customers’ due diligence, detection and filing of suspicious transaction reports, implementation of targeted financial sanction and beneficial ownership verification, among others.

According to him, “This will strengthen your compliance and build a common formidable response against terrorist financiers and other criminal elements seeking to abuse the sector.”

He also stated that the workshop, in addition to building individual operator’s capacity, would also enable a cross-fertilization of ideas and experience-sharing across the industry.”

In his remarks,  Bashiru Are, Executive Director of Lagos State Lotteries Board, LSLB, urged the participants to take the issue of compliance seriously.

In her presentation titled “Overview of Typology Studies( Corruption and Money Laundering)”,  Ibinabo Mary Amachree, Head, SCUML Lagos, exposed  participants to the  various methods, patterns, and techniques that criminals use in exploiting casinos operators and how to avoid falling prey to them.

She also encouraged participants to support the EFCC in its efforts to combat money laundering and terrorism financing.

Folashade Oluwasanya, a senior Compliance Officer with SCUML, Lagos, delivered a lecture on “ Implementing Targeted Financial  Sanctions in the Casino Sector”, while  Sylvester Akpan, also an officer in SCUML, Lagos, spoke on “ The Importance  of Know Your Customers,KYC,/ Customer Due Diligence”.

 

Source: EFCC 

EFCC Arrests Seven in Ogbomoso for Alleged Illegal Mining Activities in Ilorin

Operatives of the Ilorin Zonal Command of the Economic and Financial Crimes Commission, EFCC have arrested seven suspects for offences bordering on illegal mining activities, and two others for offering N1.2million bribe to compromise the operatives of the Commission.

 

The arrest, which followed credible intelligence and days of surveillance, was carried out on Friday, May 24, 2024 at Ogbomosho, Oyo State. The suspects are Waliyu Abidoye, Abubakar Auwal, Abdulrauf Hakim, Sabiu Usman, Salihu Godwin, Dauda Mohammed and Olalekan Aremu.

At the point of arrest, five truckloads of assorted minerals suspected to be lepidolite, lithium and precious stone among others were recovered from the suspects.

Investigations revealed that the suspects were not licensed miners and did not have requisite authority to purchase and possess the minerals. They were also not paying royalties to the Federal and States Governments, as required by law.

The Commission also arrested two other persons, Faleti Waheed and Noah Olalekan who allegedly offered N1.2million bribe to the operatives in order to secure the release of one of the sized trucks.

The duo of Waheed and Olalekan approached the EFCC operatives at the point of arrest and negotiated to give them money in order to have their seized truck released. The officers played along and got the suspects arrested at the point of delivering the money.

The sum of N995,500 (Nine Hundred and Ninety-Five Thousand, Five Hundred Naira) only was recovered from Waheed who claimed to be a manager at a filling station in Ogbomosho while the sum of N201,000 (Two Hundred and One Thousand Naira) only was recovered from Olalekan who claimed to be a scavenger.

The suspects will be arraigned in court upon conclusion of ongoing investigations.

 

Source: EFCC 

Court Sends Nine Internet Fraudsters to Jail in Benin City

Nine internet fraudsters were on Tuesday and Wednesday April 23 & 24, 2024 convicted and sentenced to various jail terms by Justice Efe Ikponmwonba of the Edo State High Court sitting in Benin City.

The convicts are Andrew Ayakanmi Joshua, Obazee Marvellous, Osiobe Joshua, Osariemen Favour, Edosa Ovbokhan, Emmanuel Eramiokhare, Cyril Osagie, Stephen Okiosi Osaiwe and Muhammed Mudesiru Hussein

They were jailed after pleading guilty to one-count separate charge bordering on obtaining by false pretence, possession of fraudulent documents, retention of proceeds of crime upon arraignment by the Benin Zonal Command of the Economic and Financial Crimes Commission, EFCC.

The charge against Eramiokhare reads: “That you Emmanuel Eiramiokhae (m) sometime between 1st January 1

2019 and 4th April, 2024 within the jurisdiction of this honourable court did retain the aggregate sum of N97,392,707.75 (Ninety Seven Million, Three Hundred and Ninety two thousand, Seven Hundred and Seven Naira, Seventy five kobo) knowing that same represent proceeds of Godstime (your chairman) criminal conduct to wit: cybercrime and thereby committed an offence contrary to Section 17 (a) Economic and Financial Crimes Commission (Establishment) Act 2004 and punishable under Section 17(b) of the same Act.

All the defendants pleaded guilty to their respective charges when they were read to them in court, prompting the prosecution counsel, Ibrahim Faisal and Salihu Ahmed, to pray the court to convict and sentence them accordingly. However, counsel to the defendants pleaded with the court to temper justice with mercy as they have become remorseful for their actions.

 

Justice Ikponmwonba on Tuesday April 22, 2024 sentenced the trio of Eramiokhae, Joshua and Favour to three years imprisonment or a fine of N100,000 (One Hundred Thousand Naira) each while the duo of Ayakanmi Joshua and Obazee Marvellous bagged two years imprisonment or a fine of N100,000 each. On Wednesday April 23, 2024, the judge convicted and sentenced Ovbokhan to three years imprisonment or a fine of N100,000, Hussein bagged two years imprisonment or a fine of N100,000 while the duo of Osaiwe and Osagie were sentenced to community service.

The judges ordered the convicts to forfeit their phones, laptops, balances in their various bank accounts, being instruments and proceeds of crime to the Federal Government of Nigeria. All the convicts are to undertake in writing to be of good behaviour henceforth.

The convicts' road to the Correctional Centre began for the convicts following their arrest by operatives of the Benin Zonal Command of the Commission based on actionable intelligence regarding their involvement in computer -related fraud. They were charged to court and convicted.

Source: EFCC 

OPINION: 𝐓𝐡𝐞 𝐄𝐅𝐂𝐂, 𝐁𝐨𝐛𝐫𝐢𝐬𝐤𝐲, 𝐚𝐧𝐝 𝐁𝐨𝐛𝐥𝐢𝐨𝐧

By Dr. Ugo Egbujo 

The Economic and Financial Crimes Commission (EFCC)  must choose its fights sensibly. An Ijele doesn’t go about dancing at babies’ birthday parties just to be noticed. The EFCC must leave some jobs for local Police DPOs. So, it can focus on serious financial crimes. This gbegboro attitude inhibits specialisation. More importantly, the EFCC must never forget that it wrestles against principalities and powers against whom it needs the confidence of the masses. Seeking to clean cobwebs while elephants freely defecate in the room is self-deceit. 

The EFCC has recently set up a task force to prevent the abuse of the Nigerian currency, the naira. The focus of this task force has been on preventing celebrities and, perhaps, the public from spraying the naira at social events, as the EFCC sees this as a form of irreparable damage to the currency. Although the law is in place to preserve currency notes and save reprinting costs, the EFCC has taken it to be a serious financial crime. If lawmakers had trained their focus on stopping the display of exhibitionism or money worship in order to prevent the spread of lasciviousness and reset societal values rather than mere naira abuse, the people would have been happy. However, enforcing laws against harmless cultural practices portrays law enforcement as bereft of a critical sense of priorities.

In the United States, celebrities spray money on strippers. So, spraying cash on people isn’t such a universal crime as the EFCC’s preoccupation with it suggests. In Igbo land, if a grandma dances, she has to be sprayed cash. Putting the money in her bag or pocket drains the ritual of the ceremony. If that damages the naira, then the quality of the notes needs improvement to meet significant cultural uses. Money is more than a sterile medium of exchange. We used to have pseudo-plastic notes in the past. But this new meddlesome law also forbids the throwing of coins. So, the primary motivation for the prohibition can’t even be mutilation because it’s so non-discriminating. Now, the EFCC wastes its time and scarce resources pursuing young men and women spraying their hard-earned naira on their friends and relatives while indicted criminal suspects occupy ministerial positions at the nation’s capital

An institution with limited resources ought to define its priorities soberly. While the EFCC was running around Borisky, Yahaya Bello, who likes to call his narcissistic self White Lion, was still at large. If the EFCC was thinking of the Broken Windows Theory, then it should have focused on the obscene display of wealth, not the spraying of naira, which almost all poor and decent people in Nigeria do anyway. Now, Bobrisky is in prison after pleading guilty as a first offender, but Yahaya Bello can’t be arrested.

He wasn’t arrested a couple of days ago because after the EFCC laid a siege on the house where he refuged, the policemen protecting the man at large shut out the EFCC violently. That wasn’t the peak of the absurdity. While the EFCC agents were languishing in helplessness under the angry sun, a governor stormed the cordoned area with thugs and gained easy entrance into the house. The humiliated EFCC men watched like schoolboys. Such life-sucking impotence. All these happened a stone’s throw from the seat of power. The godson shoved the EFCC aside and whisked away his godfather from the trembling hands of the timid law. Sheer movie stuff. Blockbuster gangsterism. 

After the EFCC chickened away in peace, it issued a press release. In that gutless release, it couldn’t dare to be specific let alone name names. In that statement that reeked of abject impotence, it found the verve to warn the public that in future, it would deal decisively with people who employed thugs to disrupt or obstruct its operations. A governor might have immunity, but does his immunity permit him to handcuff EFCC agents or commit criminal offences while law enforcement agents watch?

His immunity doesn’t confer anything on all the aides and security agents who may choose to assist him in committing the crime before newsmen.The next day was court sitting. Yahaya bello was still at large. The EFCC said they could be forced to invite the military to assist them. What more do they want to suffer? However, that statement was a naked indictment of the police and DSS. Granted, both can’t often handle bandits, but should a chicken-hearted white lion hiding in the Government House in Lokoja require military intervention too?

The helpless EFCC has declared the man wanted, begging the public to help track the man. The public is supposed to find the man the EFCC had in its claws and let a baby governor snatch away? The public should find a man being protected by the state. The world is watching. The Attorney General could have struck while it was hot in Abuja. But he dilly-dallied. A firm pronouncement from the Chief Law Officer to the police and DSS would have drained courage from the lawless governor.

When the Attorney General woke up from slumber the next day, he preached that citizens must always submit themselves to law enforcement agents when needed. He called no names. He issued no public orders. Tepidly, he said the world would have no respect for the country if governors started to act like wild animals. Such preposterous lukewarmness. Tomorrow, we will attend an African Union meeting and expect respect. He should remind the president that foreign investors are watching the spectacle of the travesty of the rule of law.

This atrocious precedent took place under the presidency’s nose. Many thought that naked disruption of EFCC operations by other law enforcement agents had ended with Buhari. If it had been some Bobrisky rather than the revered Bobkogi who mobilised thugs to evade that arrest, the security agencies would have remembered they had breached presidential security. Rightly, but belatedly, the policemen attached to Yahaya Bello have been withdrawn, but when will they be prosecuted? After all, we are only a generator republic and not yet a plantain republic. 

The EFCC must choose its fights wisely. Some bemused young people are now planning to switch to spraying dollars at social events. That could mean more naira chasing the dollar. Some laws only exist to be part of the general legal architecture. And there are others, that must attract attention and venom. The EFCC’s greatest existential problem is corrupt politicians.  However, it appears the agency has an exceptionally elastic capacity to absorb humiliation from powerful politicians.

Often, the public looks away with disinterest not just because the EFCC likes to make up by chasing small fries, but after the EFCC went through the roof to arrest Rochas and charge him, the then Federal Attorney General hijacked the case from the EFCC.  That gradual and steady emasculation of the EFCC by big politicians has been quickened by Ododo. He knows he will suffer no consequences. Last year, an ex-governor publicly ridiculed the EFCC chairman who had fingered him for corruption. That ex-governor is now a minister. The EFCC lingers on his filthy files.

How does the EFCC feel when it goes against relatively innocuous offenders while those who have embezzled the state into penury swagger about in the corridors of power and thump their noses at it? Bobrisky went to prison at the speed of light. Bobkogi is still at large. When he is eventually arraigned, he might appear in a lion-skinned attire. His lawyers will secure his bail despite his having shown that he is a flight risk. Then he will return to Kogi to a hero’s welcome, drums beating, and women dancing under the sun, all arranged by his godson, Ododo. Most of the policemen withdrawn from him will return with him to Kogi for the triumphant homecoming. They might even receive awards from the state. We live right in a circus. Aristotle said, “At his best, man is the noblest of all animals; separated from law and justice, he is the worst.”

The EFCC must reassess its priorities to prevent politicians from turn the eagle into a chicken, a scaveger for small things.

Court Jails 20 Internet Fraudsters in Benin City

The Benin Zonal Command of the Economic and Financial Crimes Commission, EFCC,  on Wednesday and Thursday April 17 &18, 2024  secured the conviction and sentence of 20 internet fraudsters before Justices Efe Ikponmwonba and M. Itsueli of the Edo State High Court sitting in Benin City.

The convicts are: Blessing Daniel, Kingsley Okoroafor, Amos Ohwofa, Eromosele Victory, Oba Nicholas Destiny, Lucky Osaro, Edema Emmanuel John, Obazee Precious, Akinyemi Seun, Ufumwen Victor, Enoch Ehigiator, Adurotimi Olakunle Justin, Oserei Clinton and Oserei Abraham.

Others are Obazee Gabriel, Richard Godfrey Obazee, Ricard Israel, Paul O. Endurance, Destiny Ajimi and Ejiwe Blessing Julius

They were jailed after pleading guilty to one-count separate charge bordering on obtaining by false pretence, possession of fraudulent documents upon arraignment by the Benin Zonal Command of the  EFCC.

The charge against Ajimi reads:

That you Destiny Ajimi (M) on or about 4th April, 2024 in Benin City, Edo State, within the jurisdiction of this Honorable Court did have in your possession documents which you knew or ought to have known contain a false pretence and thereby committed an offence contrary to Section 6 read together with 8 (b) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under Section 1(3) of the same Act”.

The charge against Julius reads: “That you Ejiwe Blessing Julius(M) on or about 4th April, 2024 in Benin City, Edo State, within the jurisdiction of this Honorable Court did have in your possession documents which you knew or ought to have known contain a false pretence and thereby committed an offence contrary to Section 6 read together with 8 (b) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under Section 1(3) of the same Act”.

All the defendants pleaded guilty to their respective charges when they were read to them in court, prompting the prosecution counsel, F. A. Jirbo. I.K Agwai and K.Y. Bello, to pray the court to convict and sentence them accordingly. However, counsel to the defendants pleaded with the court to temper justice with mercy as they have become remorseful for their actions.

 

Justice Ikponmwonba  on April 17, sentenced the trio of  Ohwofa,  Daniel and Julius to three years imprisonment or a fine of N100,000 (One Hundred Thousand Naira) each while Akinyemi Seun bagged two years imprisonment or a fine of N100,000.  Justice Ituseli convicted the trio of Eromosele Victory, Obi Nicholas Destiny and Lucky Osaro to two years imprisonment or a fine of N100,000 each while Kingsley Okarafor, Destiny Ajimi and Edema Emmanuel John bagged three years imprisonment or a  fine of N100,000.

On Thursday April 18, Justice Ikponmwonba convicted 10 of the defendants -  Precious, Victor,  Ehigiator,  Justin, Clinton,  Abraham, Gabriel, Obazee, Israel and Endurance to three years imprisonment or a fine of N100,000 each.

The judges ordered the convicts to forfeit their phones, laptops,  balances in their various bank accounts and three vehicles - Mercedes-Benz, Lexus and a Toyota Camry being instruments and proceeds of crime to the Federal Government of Nigeria. All the convicts are to undertake in writing to be of good behaviour henceforth.

The convicts’ road to the prison began following their arrest by operatives of the Benin Zonal Command of the Commission based on actionable intelligence regarding their involvement in computer- related fraud.

Source: EFCC 

EFCC Arrests Suspected Internet Fraudster in Port Harcourt

Operatives of the Port Harcourt Zonal Command of the Economic and Financial Crimes Commission, EFCC, have arrested a  suspected internet fraudster, Ali Desmond Chinedum in Port Harcourt, Rivers State.  

 

He was arrested following credible intelligence on his suspected involvement in internet-related offences.

 

Items recovered from him include, one iPhone 11 Pro Max, One Redmi 12 Android mobile device, two  United States Navy identity cards with number: 100040041245 and 100010041159, one Mercedez Benz GLK and one HP Laptop computer device and charms.

 

He will be charged to court as soon as investigations are concluded.

 

Source: EFCC

FATF Grey List: EFCC, NFIU Step up Exit Plan

The Economic and Financial Crimes Commission, EFCC and Nigeria Financial Intelligence Unit, NFIU, on Wednesday, March 20, 2024 mapped out fresh strategies geared towards Nigeria’s exit from Financial Action Task Force, FATF’s Grey List.

The strategies arose from a courtesy visit of the Director and Chief Executive Officer of NFIU, Hafsat Abubakar Bakari to the Executive Chairman of the EFCC, Ola Olukoyede at the Commission’s corporate headquarters.

Bakari,  in her speech,  stated that the visit was driven by a kindred spirit, need for stronger bridges of relationship and the FATF challenge. “Our visit today is a recognition of the shared history and a step towards building the foundations of a stronger partnership. We are also here to discuss the steps we need to take together to ensure that Nigeria exits from the grey list of the Financial Action Task Force in the near future.”

 In a presentation, the NFIU’s boss outlined the various intelligence-generating and sharing modalities her Unit has been undertaken to serve relevant agencies across the country. She also laid bare how the NFIU has been enforcing compliance obligations of reporting entities to it. She pledged greater effectiveness and integrity of intelligence to tackle corruption, insecurity, banditry,  terrorist financing and other threats to peace and progress of the nation.  “I assure the Commission that we will continue to carry out our assignments with utmost integrity and effectiveness”, she said.  

Olukoyede in his remarks assured her of EFCC’s total involvement and commitment in all that are needed towards the exit. “We are together in this. The EFCC has been playing major roles in driving the exit action plan. And I assure you that we will not rest on our oars, not necessarily to satisfy the international community alone but for the overall growth and development of our nation.  “Foreign interests alone must not drive us to do what is right but the interest of our country. We should always do what is right at all times, not just to satisfy any foreign interests but because right is right,  Let’s carry out the action plan to grow our economy.”

 The FATF, February 2023, added Nigeria to its list of countries under monitoring, designated as “Grey List.” This listing required the country to implement an action plan comprising 19 items before May 2025 to avoid the greater danger of upgrade to the “Black List” which comes with dire economic consequences. 

Olukoyede expressed optimism that the combined works of the EFCC, NFIU and other relevant agencies will assist Nigeria to exit the grey list.

He reiterated his commitment towards preventive frameworks in tackling economic and financial crimes, stressing that it is cheaper to prevent corruption than to fight it.

 

Source:  EFCC

EFCC Arrests Man for Issuing Death Threat against Olukoyede

Operatives of the Economic and Financial Crimes Commission, EFCC, on Monday, March 18, 2024, arrested one Kayode Cole for issuing a death threat against the Executive Chairman of the Commission, Ola Olukoyede.

Cole was arrested at the Lugbe axis of the Federal Capital Territory, FCT, Abuja.

The suspect made the death threat through his Instagram page handle: “1billionsecretss”, while commenting on a story posted by a popular Instagram blogger, Instablog9ja on February 1, 2024.

Instablog9ja had posted a story with a caption: “A Religious Sect Is Laundering Money for Terrorists. We Traced N7 Billion Fraud Proceeds to another Religious Group- EFCC Chairman”.

Reacting on the comment section of Instablog9ja, Cole stated that the EFCC Chairman will be dead in six months.

 “He will be dead in six months. This man will be dead in 6months remembered, I said it”, he said.

In the course of interrogation,  the suspect claimed that he was just “chasing clout.”

He will be handed over to the appropriate authority for further investigation and prosecution.

Recall that the Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, had on Wednesday, January 30, 2024, at the Musa Yar’Adua Centre, Abuja, during a one-day dialogue on “Youth, Religion, and the Fight against Corruption.” revealed that the Commission had uncovered how a religious sect in Nigeria is laundering money for terrorists.

The EFCC boss also stated that another religious body was found to be protecting a money launderer after some money suspected to have been laundered was traced to the organization’s bank account.

 

Source: EFCC

EFCC Arraigns Fake Afghan Soldier for $1000 Internet Fraud in Port Harcourt

The Port Harcourt Zonal Command of the Economic and Financial Crimes Commission, EFCC, on Thursday, March 14, 2024 arraigned David Ikeaghichi before Justice S. D. Pam of the Federal High Court, Port Harcourt, Rivers State for impersonating an Afghanistan soldier and obtaining money under false pretence.

Ikeaghichi is facing trial on two-count charges, which run contrary to Section 1 (1)(a & b) and punishable under Section 1(3) of the Advance Fee Fraud Related Offences Act, 2006.

EFCC Arrests Barber, 11 other Suspected Internet Fraudsters in Uyo

Operatives of the Uyo Zonal Command of the Economic and Financial Crimes Commission EFCC, on Thursday March 14, 2024, arrested a barber, and  eleven suspected internet fraudsters in a sting operation in Uyo, Akwa Ibom State.

They were arrested following credible intelligence on their suspected involvement in internet-related offences.

Source: EFCC

EFCC Arraigns Three former Bankers, One Other for N15.9m Fraud in Enugu

The Enugu Zonal Command of the Economic and Financial Crimes Commission, EFCC on Tuesday, March 12, 2024 arraigned three former bankers, Ogbu Kingsley Ibekwem, Nwagbara Chidimma and Uwaezuoke Raymond and Chidubem Angela Mgbeke before Justice Mohammed Garba Umar of the Federal High Court sitting in Enugu State.

They were arraigned on a four-count charge bordering on conspiracy and stealing to the tune of N15, 944, 100. 00 (Fifteen Million, Nine Hundred and Forty-four Thousand, One Hundred Naira).

One of the counts reads: “That you, Ogbu Kingsley Ibekwe and Chidubem Angela Mgbeke sometimes in January 2023 in Onitsha, Anambra State within the jurisdiction of this Honourable Court did conspire among yourselves to commit felony to wit; retaining the sum of N7, 996, 800. 00 ( Seven Million, Nine Hundred and Ninety-six Thousand, Eight Hundred Naira) meant for evacuation to the Central Bank of Nigeria and property of Access Bank Plc Nottidge Branch, Onitsha which you knew or ought to have known to be proceeds of an unlawful act and thereby committed an offence contrary to Section 21 (a) of the Money Laundering (Prevention and Prohibition) Act 2022 and punishable under Section 20 (b)”.

They pleaded “not guilty” when the charges were read to them. In view of their pleas, counsel to the EFCC , Ahmad Yusuf Abdullahi, prayed the court for a trial date and for the defendants to be remanded at Enugu State Correctional facility.  Defence counsel, O. O. Orji, however,  informed the court of a bail application already placed before it. 

Justice Umar thereafter adjourned the matter to May 22, 2024 for trial. The defendants were remanded at the EFCC custody pending the hearing of bail application.

Ibekwem, Chidimma and Raymond  were handed over to the EFCC on February 22, 2023  by Access Bank plc for pilfering N15, 944, 100. 00   before it was evacuated to the bullion unit of the bank for subsequent movement to the Central Bank of Nigeria. They were former staff of the Nottidge branch of the bank in  Onitsha, Anambra State.

Source: EFCC 

How Emefiele Allegedly Awarded Multi-Billion Naira Contracts to Family & Associates - EFCC Witness

A Seventh Prosecution Witness, PW7, in the trial of a former governor of Central Bank of Nigeria, CBN, Godwin Emefiele on Monday, March 11, 2024 told Justice Hamza Muazu of the Federal Capital Territory, FCT, High Court, Abuja, how Emefiele allegedly signed and approved award and payments of contracts to April 1616 Investment Limited and Architekon Nigeria Limited, companies that allegedly belong to Sa’adatu Ramalan Yero, his wife, Margaret Emefiele and his in-law respectively.

The witness,  Agboro Michael, an investigator with the ICPC,  led in evidence by the prosecution counsel, Rotimi Oyedepo,SAN, was part of the investigation team that comprised the EFCC, ICPC, CCB, DSS and the Nigerian Police. He testified on the count-charge of abuse of office and conferring  an unfair advantage to a public officer and relatives, preferred against Emefiel

“My Lord,  these companies were awarded about 45 contracts to supply Toyota Vehicles. We were worried as investigators as to how a particular company would get bids concurrently to supply vehicles. We did our investigation, and discovered that the company was not even accredited by Toyot

“In the companies my Lord, one has Sa’adatu’s husband and siblings as directors, and the other one has Sa’adatu as the director of the company while she is still a civil servant.

“Document ‘F1’ shows the signature and approval of the defendant to pay the sum of N854, 700,000 (Eight Hundred Fifty-Four Million, Seven Hundred Thousand Naira)  His signature was number three on the document",  he said.  Testifying further, Michael said in ‘F3’, the defendant approved 1, 85,700,000 (One Billion, Eighty-five million, Seven Hundred thousand) for the supply of 47 units of Toyota Hilu

While ‘F4’ was the defendants approval to purchase for the bank an armoured Toyota Avalon car at the cost of N99,900,000 (Ninety-Nine Million, Nine Hundred Thousand Naira), and ‘F5’ was the approval to procure two units of Toyota Hilux for the bank, and all were bought from April 1616 Investment limite

Speaking on the findings of the investigative team on exhibit P26, page 86 of 107 on November 6, 2021. Michael said; “It is a credit into the account from the CBN to the tune of N41, 943, 400, 34 (Forty-one Million, Nine Hundred and Forty-three Thousand, Four hundred and Thirty four kobo

“Page 87 was also a credit in April 2016 from the CBN, N304, 853, 50 (Three Hundred and Four Million, Eight Hundred and Fifty Three Thousand naira, Fifty kobo

“26 January, 2021, April 1616 Investment Nigeria limited also received N304, 853, 720, 55 (Three Hundred and Four Million, Eight Hundred and Fifty Three Thousand Seven Hundred and Twenty Naira Fifty-Five kobo) from the CB

“On the 10th of February, 2021, the CBN paid N201, 23, 323, 31 (Two Hundred and One Million, Twenty-Three Thousand, Three Hundred and Twenty-Three Naira, Thirty-One kobo

The approval of payment of March 24, 2021 was  N304,843,720,85, April 27, 2021 was 60,976,744,17 (Sixty Million, Nine hundred and Seventy Six thousand, Seven hundred and forty-four naira, Seventeen kobo) May 31, 2021 was a payment of 60,976,744,17 (Sixty Million, Nine hundred and Seventy Six thousand, Seven Hundred and Forty-four Naira, Seventeen kobo), and February 21, 2021 was a payment of N50,547,508,30 (Fifty Million, Five Hundred and Forty-Seven Thousand, Five Hundred and Eight Naira Thirty kobo) were equally approved by the defendan

The witness further told the court that the team recorded the defendant’s statement under caution and video recorded in a conducive environmen

Testifying further, the witness said; “In 2019, again,  we discovered the defendant also used his office and position to confer a corrupt advantage to one of the staff of CBN, Sa’adatu Ramalan Yero to supply  one unit of Toyota Land Cruiser V8 at the cost of N73, 800,000 (Seventy-Three Million, Eight Hundred Thousand to her company April 1616 Investment Nigeria limited where she is a director, and equally a director in the CB

“Again my Lord, the defendant also approved the payment of renovation of the CBN Governors’ residence at No 2. Global road, Ikoyi Lagos to a company named; Architekon Nigeria Limited where his wife and brother-in-law are both director

“Sometime in 2020, the defendant used his position as CBN Governor to confer on his wife and brother in-law corrupt advantage by awarding their company landscaping of the CBN governor’s residence in the sum of N39,46,000 (Thirty-Nine Million, Forty Six Thousand Naira”,he said

Continuing, Michael said a contract to procure furniture items was also awarded to his brother in-law in the sum of 97,000,000 (  Ninety Seven Million Naira), and again,  a contract to procure a power line at the same CBN Governor’s residence in the sum of N68,568,740 (Sixty-Eight Million, Five Hundred and Sixty-Eight Thousand, Seven Hundred and Forty naira

While cross examining the witness, counsel to the defendant,  Matthew Burkaa SAN queried the witness  that though there are many signatories in the memo only his client was on trial. In response, the witness told him that the defendant was on trial because he was the approving authority, while others only minuted on the documents to justify the process, and didn’t  have the power to make such payments and approval

Burkaa also wanted to tender the defendant’s  statement at the Nigerian Police force before the court,  but Oyedepo objected, stating it was a public document and needed to be certified before it can be tendered as an exhibit.  Burkaa then withdrew the document and promised to provide the true certified copy at the next adjourned dat

Justice Muazu thereafter adjourned the matter till 25 and 26 April, 2024 for continuation of trial.

Source: EFCC

EFCC Arrests Four Suspected Fraudsters in Maiduguri

Operatives of the Maiduguri Zonal Command of the Economic and Financial Crimes Commission, EFCC, on Friday, March 8, 2024 arrested four suspects for sending fake transaction credit alerts to their victims.

They were arrested within Maiduguri metropolis, Borno State, following intelligence on their fraudulent acts.

Preliminary investigations showed that the suspects were operating using a Business App of a bank to purchase food and non- food items as well as collecting money from Point of Sale agents POS cashiers and sending fake transaction credits to them.

They would be charged to court as soon as investigations are concluded. 

Source: EFCC 

$9.6bn P&ID Fraud: EFCC Tenders Additional Evidence Against MICAD, Nolan

The Economic and Financial Crimes Commission, EFCC, on Monday, March 11, 2024, tendered more evidence against MICAD Project City Services Limited and James Nolan before Justice Obiora Egwuatu of the Federal Capital Territory High Court, Abuj

Micad Project City Services Limited and James Nolan are standing trial on a 20-count charge of obtaining by false pretense, non-compliance with the Money Laundering Act 2011 (as amended) and criminal conversion of proceeds of crime to the tune N151,394,328.00 (One Hundred and Fifty-one Million, Three Hundred and Ninety-four Thousand, Three Hundred and Twenty-eight Naira

At Monday’s court session,  Prosecution counsel, Bala Sanga informed the court that the EFCC has filed additional evidence before the court  on February 20, 2024  and defense counsel, Micheal Ajara confirmed  that they have been served the evidenc

To this end, Sanga presented the third prosecution witness, PW3, Nnedimma Irene Eyisi, a lawyer.  She told the court how James Nolan informed her that he needed to renew himself as the Director of MICA

“Sometimes in 2016, my principal informed me that a client will give me a form to file a CAC document. Later that day,  I received a call from a client who introduced himself as James Nolan, he informed me he needed to renew himself as the Director of the company. I asked him to give me details about the directors of the company and he did.  I informed him I will prepare a CAC Form 7, so that the required directors will sign”, she sai

Narrating further,  she said, “a couple of weeks later, our Secretary informed me that I have some documents which contained CAC form 7 appointing James Nolan as the director, a consent letter accepting to be a director by James Nolan. On receiving these documents, I proceeded to CAC and  after a couple of days,  I checked back and the application was approved. I made the necessary payment and submitted. I came back days later to collect the CTC of these documents. I packaged it and gave it out for dispatch, I called the client and informed him that the documents are ready”, she sai

The witness further informed the court that she could recognize the document on sight, adding that it bears the name of James Nolan

Eyisi also said that she was invited by the EFCC in respect of the CAC form 7 and wrote a statement on August 31, 2021 which reflected her name. Sanga then applied to the court for the document to be admitted in evidence. The defense counsel did not object to the application

Justice Egwuatu admitted the document in evidence and marked it as Exhibit 

 In the course of cross-examination, Eyisi confirmed that she dispatched the form for the company and the relevant directors  to sign, adding that “CAC form 7 must return all signed and I submitted them all. All I know is that the documents were returned, signed by all directors and the new director.

The judge thereafter adjourned the matter to March 12, 2024 for continuation of hearin

 At the last session on January 18, 2024,  second prosecution counsel, PW2, Hussain Babangida informed the court how directors of Micad City Services Ltd absconded with about N39,450,224.23(Thirty Nine million, Four Hundred and Fifty Thousand, Two Hundred and Twenty Four Naira, Twenty Three kobo) owed as taxes to the Federal government using fake signature

Source: EFCC 

EFCC Arraigns Man for Currency Racketeering in Port Harcourt

The Port Harcourt Zonal Command of the Economic and Financial Crimes Commission, EFCC, on Monday, March 11, 2024 arraigned Azubuike Mamwu Obasi before Justice P. I. Ajoku of the Federal High Court, Port Harcourt, Rivers State for currency racketeering.

 

Obasi is facing trial on a four-count charge, bordering on illegal acquisition of bank notes and carrying out banking services without an appropriate licence, contrary to Section 18 (1) and (2) (d) of the Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under Section 18 (3) of the same

Act.

 

One of the charges reads: "That you, Azubuike Manwu Obasi, on or about the 15th day of February, 2024, at Port Harcourt, within the jurisdiction of this Honourable Court, acquired and retained the cumulative sum of N554,600.00 (Five Hundred and Fifty-four Thousand, Six Hundred Naira) which you knew or reasonably ought to have known, forms part of your unlawful acts, selling or trading in Naira notes and carrying on banking business in Nigeria without a valid licence, and thereby committed an offence contrary to Section 18 (1) and (2) (d) of the Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under Section 18 (3) of the same Act.”

 

He pleaded “guilty” to all his charges when they were read to him, upon which prosecuting counsel, E. K. Bakam prayed the court for a witness for a review of the facts of the case.

Led in evidence by prosecution counsel, the witness, Adagwu Joshua told the court that the defendant was arrested sometime in February, 2024 at Maddox Night Club in Port Harcourt by the operatives of the Commission for selling naira notes for commercial gains without an appropriate licence.

 

The witness further revealed that the defendant sold the sum of N20,000.00 (Twenty Thousand Naira) of the new bank notes to one Emeka Daniel comprising 100 pieces of N200 notes (Two Hundred Naira) at the cost of N35,000.00 (Thirty Five Thousand Naira), paid into his Access Bank account. The defendant, he said, was also found to have acquired and retained various sums of money from the same unlawful activity.

Justice Ajoku ordered that the defendant be remanded in EFCC custody and adjourned the matter till March 14, 2024.

 

Source: EFCC