THE Economic and Financial Crimes Commission (EFCC) has declared the Managing Director of Fargo Petroleum and Gas Limited, Seun Ogunbambo, wanted for jumping bail in his trial over alleged oil subsidy fraud. The EFCC made the declaration in a notice signed by the commission’s Head of Media and Publicity, Dele …
Read More »
THE Economic and Financial Crimes Commission (EFCC) on Friday, June 13, 2025, arraigned two senior executives of SunTrust Bank—Halima Buba, Managing Director and Chief Executive Officer, and Innocent Mbagwu, Executive Director and Chief Compliance Officer—on charges of money laundering totaling $12 million. The arraignment took place before Justice Emeka Nwite …
Read More »
THE Economic and Financial Crimes Commission, on Friday, arraigned the Managing Director/Chief Executive Officer of SunTrust Bank Ltd, Halima Buba, and the Executive Director/Chief Compliance Officer, Innocent Mbagwu, before Justice Emeka Nwite of the Federal High Court, Abuja. The duo is standing trial on a six-count charge bordering on money …
Read More »
THE Economic and Financial Crimes Commission (EFCC) has filed a three-count charge against two of the detained promoters of Crypto Bridge Exchange (CBEX) over allegations bordering on investment fraud to the tune of over one billion dollars. The two, in the charge marked: FHC/ABJ/CR/216/2025 and filed by EFCC lawyer, Fadila …
Read More »
FORMER Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has revealed that Nigeria lost $450 million to fraud under the Petroleum Support Fund (PSF) between 2006 and 2012. Truthng reports that Bawa made the disclosure in his newly released book titled “The Shadow of Loot & Losses: Uncovering …
Read More »
THE Economic and Financial Crimes Commission (EFCC) has announced that it has declared two additional people – Folashade Odelana and Bamidele Ayodele Abiodun – wanted in connection with a large-scale fraud involving the online trading platform, Crypto Bridge Exchange (CBEX). Their last known address was No. 17, Oremeta Street, Allen, …
Read More »
THE Economic and Financial Crimes Commission (EFCC) has launched an investigation following the arrest of two men allegedly found in possession of $899,800 in counterfeit U.S. currency. According to a statement posted on the EFCC’s official X account on Saturday, the suspects were apprehended by operatives of the National Drug …
Read More »
THE third Prosecution Witness (PW3) in the trial of a former Minister of Power and Steel, Olu Agunloye, told an Abuja high Court that no budgetary allocation was made for the $6bn Mambilla Hydropower Station in Taraba The Economic and Financial Crimes Commission charged Agunloye with infractions in the award …
Read More »
A 22-year-old suspected internet fraudster has been arrested by operatives of the Economic and Financial Crimes Commission (EFCC) over alleged cybercrimes amounting to a staggering ₦5 billion in financial turnover. The suspect, whose identity is being withheld pending further investigations, was apprehended in Lagos following months of surveillance and intelligence …
Read More »
IN a significant update, the Economic and Financial Crimes Commission (EFCC) said it had successfully recovered some of the funds lost to the Crypto Bridge Exchange (CBEX) scam. EFCC Chairman, Mr. Ola Olukoyede gave the confirmation during a Sunday interview on TVC. Olukoyede said that arrests had been made in …
Read More »
