(The Suspects. Photo Credit: EFCC Nigeria) The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) has arraigned four persons before Justice F. N. Ogazi of the Federal High Court sitting in Ikoyi, Lagos, over allegations of money laundering amounting to $5,296,691 (Five Million, Two Hundred and Ninety-Six Thousand, Six Hundred…
A former Director of Finance and Administration with the Federal Capital Territory Administration, FCTA, Garuba Mohammed Duku has been jailed. Duku was jailed 24 years in prison for money laundering. The sentence was handed him on Friday by the Federal High Court in Abuja which found him guilty of the six-count money…
Quit Claim Deeds seen by SaharaReporters reveal that the Minister of the Federal Capital Territory (FCT), Nyesom Wike, and his wife, Eberechi Suzette Nyesom-Wike, a Court of Appeal judge, transferred their properties in Florida, United States, into the names of their children between 2021 and 2023. President Bola Tinubu appointed Wike as FCT Minister in…
While international bodies and Western governments publicly commit to combating illicit financial flows (IFFs) and money laundering, reports reveal that a significant portion of “dirty money” flowing out of Africa finds a haven in major Western financial centres and emerging non-Western hubs. A network of professional enablers and regulatory facilitates this. This allows the Global…
Murtala Adewale, Kano The Chairman of the Kano State Independent Electoral Commission (KANSIEC), Professor Sani Lawan Malumfashi, has been accused of money laundering, alongside two senior officials of the commission, over an alleged illegal transaction involving N1 billion. The Independent Corrupt Practices and Other Related Offences Commission (ICPC), which filed the charges, alleged that Professor…
Three witnesses from the Economic and Financial Crimes Commission (EFCC) testified on Wednesday in a Federal High Court in Abuja, confirming that transactions in bank statements presented as evidence in the money laundering case against former Anambra State Governor, Willie Obiano, followed standard banking procedures. Obiano, who served as governor of Anambra State from…
The Federal High Court in Abuja has issued a subpoena compelling the Governor of the Central Bank of Nigeria (CBN) and the Head of the Legal Services Department of the apex bank to appear before it with specific documents on Monday, September 2, 2024. This directive was linked to the ongoing money laundering case against…
Central Bank of Nigeria (CBN) Ramp up your minimum capital base, or lose your operating license, was a directive from the Central Bank of Nigeria (CBN), to all the banks, in a major monetary policy shift announced last month. It was stripped of its natural tremulous nuance by our extant economic realities and the CBN…
The Economic and Financial Crimes Commission (EFCC) has taken legal action against Idris Olanrewaju Okuneye, known as Bobrisky. The anti-graft agency filed a six-count charge before the Federal High Court in Lagos. Bobrisky is scheduled for arraignment on Friday. He faces allegations of money laundering and abuse of the Nigerian currency. According to the charge…
