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 …
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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, …
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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 …
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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 …
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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 …
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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 …
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AN Ikeja Special Offences Court on Wednesday issued a bench warrant for the arrest of a defendant, Toyosi Ayodele, over alleged N600 million and $50,000 agribusiness investment fraud. Ayodele, alongside his companies Reaprite Global Ltd and Agrorite Ltd, are facing an 11-count charge of obtaining money under false pretences and …
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THE Economic and Financial Crimes Commission (EFCC) on Tuesday, handed over 753 units of houses recently recovered by the commission in Abuja to the Ministry of Housing and Urban Development. Its Spokesperson, Dele Oyewale, said this in a statement on Tuesday in Abuja. He said that the EFCC Chairman, Mr Ola …
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THE Federal Government has announced plans to sell the 753 housing units recovered from former Central Bank Governor, Godwin Emefiele, as proceeds of crime. This development is contained in a statement issued on Tuesday in Abuja, by Salisu Haiba, Director Press and Public Relations, Ministry of Housing and Urban Development …
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THE Economic and Financial Crimes Commission (EFCC) has strengthened its collaboration with the British High Commission in the fight against organised immigration fraud through a specialised training on document forgery. The training, organised by the Home Office International Operations of the British Deputy High Commission, held on Thursday, 15 …
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