The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, has called on legal professionals across Nigeria to consistently exercise due diligence in their practices. He emphasised the importance of understanding clients’ backgrounds to ensure compliance with Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) regulations. Speaking during a panel discussion on money laundering at the 64th Annual General Conference of the Nigerian Bar Association (NBA) on Tuesday, 27th August 2024, in Lagos, Olukoyede highlighted the critical role of lawyers in maintaining the integrity of their profession. He underscored that while adhering to international conventions is important, the…
Author: Adewale A.
The Economic and Financial Crimes Commission (EFCC) has reaffirmed its unwavering commitment to tackling pension fraud across Nigeria, with a renewed focus on addressing issues in Akwa Ibom State. This pledge was made by Assistant Commander of the EFCC, Oshodi Johnson, during a recent courtesy visit by the Nigeria Union of Pensioners, Akwa Ibom State Chapter, to the Uyo Zonal Command. Speaking at the meeting, Johnson assured the pensioners that the EFCC would leave no stone unturned in rooting out corruption in the pension sector. He emphasised that senior citizens who have dedicated their lives to serving the nation deserve…
The Director General of the National Lottery Regulatory Commission (NLRC), Mr Lanre Gbajabiamila, has called for an urgent review of the Memorandum of Understanding (MOU) between his Commission and the Economic and Financial Crimes Commission (EFCC) to reflect the changing dynamics of the global gaming industry. During a courtesy visit to EFCC Chairman Mr Ola Olukoyede on Friday, 23rd August 2024, in Abuja, Gbajabiamila expressed his gratitude for the EFCC’s support in recovering unremitted lottery funds. He acknowledged that significant progress had been made thanks to the collaboration, but highlighted the necessity for an updated agreement that aligns with the…
The Economic and Financial Crimes Commission (EFCC) has been praised for its exceptional efforts in recovering more than N9 billion owed to the National Lottery Trust Fund (NLTF). The commendation came from the NLTF’s Executive Secretary and CEO, Tosin Adeyanju, during a courtesy visit to EFCC Chairman Ola Olukoyede on Friday, 23rd August 2024, at the Commission’s headquarters. Adeyanju hailed the recovery as a significant achievement that has enabled the NLTF to fulfil its mandate of supporting the federal government in delivering critical social and physical infrastructure across Nigeria. He attributed the successful recovery to the strong collaboration between the…
In a significant legal development, a court has ruled that Yahaya Bello must appear in court for his arraignment, dismissing claims that the case against him was an attempt to shield him from prosecution. The ruling, delivered on August 20, 2024, emphasises the importance of accountability and transparency in high-profile corruption cases. The court’s decision came after Yahaya Bello’s legal team argued that the case against him was intended to infringe upon his fundamental rights. However, the court described these claims as “scandalous” and emphasised that the true aim of the legal proceedings was to ensure that Bello faced justice…
The Network of Anti-Corruption Institutions in West Africa (NACIWA) has called for the creation of detailed guidelines to ensure the full implementation of the ECOWAS Protocol in the fight against corruption. This resolution was announced in a communique issued in Abuja on Tuesday, August 20, 2024, following a three-day Annual General Assembly. The communique, adopted and signed by all NACIWA member states, emphasised the importance of developing guidelines that align with international frameworks such as the United Nations Convention Against Corruption (UNCAC) and the African Union (AU) Convention on Preventing and Combating Corruption. These guidelines are seen as critical for…
The Economic and Financial Crimes Commission (EFCC) has categorically dismissed a report by Sahara Reporters that alleged N54 billion forfeited by associates of former Central Bank Governor, Mr. Godwin Emefiele, was “shared” among certain ministers and aides of President Tinubu, alongside EFCC officials. The Commission has labelled the claims as false and irresponsible. In its official statement, the EFCC firmly denied that any of its officials had participated in the so-called “sharing” of proceeds from forfeited assets, branding the very notion as nonsensical. The Commission made it clear that it operates under strict guidelines established by the EFCC Act of…
In a decisive crackdown on cybercrime, operatives of the Economic and Financial Crimes Commission (EFCC) in Benin City arrested 22 suspected internet fraudsters on Tuesday, 20th August 2024. The suspects were apprehended in multiple locations across the city following actionable intelligence reports linking them to online fraud activities. During the operation, the EFCC seized an array of valuable items, including 10 luxury vehicles, laptops, and mobile phones believed to have been used in the commission of their illegal activities. These assets are now in the custody of the EFCC, pending further investigations. The suspects are currently under investigation and are…
In a significant win against cybercrime, the Economic and Financial Crimes Commission (EFCC) secured the conviction of four internet fraudsters in Abuja on Wednesday, 21st August 2024. The convictions were handed down by Justice M. Adamu of the Federal Capital Territory (FCT) High Court in Maitama, following a series of cyber fraud cases that rocked the city. The convicted fraudsters, identified as Abdulrashid Umar, Ekemini Godwin, Anozie Emmanuel, and Freedom John, faced charges related to obtaining money by false pretence. All four pleaded guilty to the charges and were sentenced accordingly by the court. Godwin’s charge stemmed from an elaborate…
In a breakthrough against cybercrime, operatives of the Economic and Financial Crimes Commission (EFCC) arrested 35-year-old Hyginus Nkwocha in Abuja on Wednesday, 21st August 2024. Nkwocha is suspected of being heavily involved in internet fraud and money laundering activities, reportedly amassing a fortune through illicit means. The arrest took place at Ever Green Estate, located behind Millennium Estate in Lugbe, Abuja, following intelligence reports that linked Nkwocha to a string of fraudulent online operations and suspicious financial transactions. During the raid, EFCC operatives confiscated a variety of luxury items, highlighting the scale of Nkwocha’s alleged criminal activities. The items recovered…