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Tag: EFCC

Emefiele: How $6.23m was Withdrawn from CBN With Forged Papers -Witness

Fola Badmus07 mins

The Eleventh Prosecution Witness, PW11, Bashirudden Muhammed Maishanu in the trial of former Governor of Central Bank of Nigeria, Godwin Emefiele, on Thursday, January 29, 2026, told Justice Hamza Muazu of the Federal Capital Territory High Court, Abuja, that the sum of $6,230,000.00 (Six Million, Two Hundred and Thirty Thousand United States Dollars) was withdrawn from the Garki Branch of the Apex Bank on February 8, 2023 through forged papers for alleged election observers and logistics. The witness, an Assistant Director in CBN, who was led in evidence by the prosecutor and Director, Public Prosecution, Rotimi Oyedepo, SAN, informed the court that he knew the defendant in 2015 through one Eric who was his personal assistant as CBN governor. The witness informed the court that he was approached early January 2023 by one Alhaji Ahmed, “he introduced himself to me and said Mr. Eric, the P.A. asked me to see you about some transactions that they were processing in CBN. He said he was working in a Special Committee in the SGF office. I asked him for I.D. and he showed me, I asked him to call Mr. Eric so that I can confirm he indeed asked him to see me. He called Mr. Eric and we spoke and he said he knew Alhaji Ahmed and he said indeed he did ask him to see me. Thereafter, Mr. Ahmed explained to me that they were processing a payment from the CBN on the authority of Mr. President and that once they obtained the presidential approval on paper, they will proceed to CBN for payment. I asked Ahmed what role I was to play because I was not working in the branch where the payment is made, he said it was too early at that time, and that once they obtained the approval of the government, he would let me know,” he said. The witness further informed the court that Ahmed met him about a week later and told him that they had obtained the President’s approval. “I demanded to see it, and he showed me the copy and told me that they will now go to the CBN to obtain Mr Emefiele’s approval. At that point he told me that they wanted cash payment and if I could either go with them or recommend someone to go with them. I told him I couldn’t go, and I suggested that I should call someone I knew,” he said. Testifying further, he said, “Mr. Ahmed admitted that once the approval of the government had been obtained, my friend and he can proceed with the cash payment. Later, he told me he had the government approval and that my friend could come for the cash payment. On the 8th of February, my friend went with his driver and cashed the money in Garki Branch of CBN: $6,230,000. Thereafter, they dropped my friend off at the same location inside the estate, it is called the 09 ClubHouse inside Ibrahim Coomasie Crescent. My friend called and said they had cashed the money and that Mr. Ahmed had left with $2.5 million in cash with his friends.” The witness stated that he suggested to his friends that they should keep the money, a suggestion he said they agreed. “I saw the cash and I told them that I thought it was outrageous because we never negotiated for any payment with the said Alhaji Ahmed and I suggested to my friends that we keep the money, they agreed.” When asked by the prosecution to explain how the CBN sanctions its erring officials, the PW11 stated that the bank applies different kinds of sanctions on erring staff depending on the nature, gravity and circumstances of the offence. “It could be demotion, termination of appointment or dismissal from service or warnings. These sanctions are all clearly contained in the human resource handbook.” He further stated that before sanctions are applied, there will be a disciplinary committee comprising selected staff members who would conduct investigations into the matter, hold hearings with erring staff and recommend the appropriate sanction to the management.

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Alleged ₦80.2bn Kogi Fraud: How ₦3.1bn Kogi LGs Funds Were Lodged into E-traders Account in Eight Months — Witness

Fola Badmus05 mins

The trial of former Kogi State Governor, Yahaya Adoza Bello, before Justice Emeka Nwite of the Federal High Court, Maitama, Abuja, continued on Thursday, January 29, 2026, with the continuation of testimony by Prosecution Witness Seven, PW7, Olomotane Egoro, a compliance officer with Access Bank. Bello is being prosecuted by the Economic and Financial Crimes Commission, EFCC, on a 19-count charge bordering on money laundering to the tune of ₦80,246,470,088.88 (Eighty Billion, Two Hundred and Forty-Six Million, Four Hundred and Seventy Thousand and Eighty-Nine Naira, Eighty-Eight Kobo). Led in evidence by prosecution counsel, Kemi Pinheiro, SAN, Egoro gave a detailed breakdown of financial transactions involving the accounts of Fazab Business Enterprise and E-traders International Limited, which allegedly received funds traced to Kogi State local government councils. After reminding the witness that he was still on oath, Pinheiro applied that Exhibit 33(8), the statement of account of Fazab Business Enterprise be shown to the witness. He drew his attention to inflows recorded on May 6, 2022, and May 9, 2022. Responding, Egoro told the court that on May 6, 2022, there were 11 inflows into the Fazab Business Enterprise account. He confirmed that the inflows came from different local government councils in Kogi State, including Yagba East, Yala, Ida and Okene. On the transactions of May 9, 2022, the witness stated that there were three transactions, comprising two inflows. When asked to confirm whether the inflows originated from Ibaji and Dekina Local Government Areas, Egoro answered in the affirmative, saying, “Yes, my Lord, I can confirm it came from the two local governments.” In summation, the witness told the court that the total inflow on May 6, 2022, amounted to ₦103,375,059.73, while the two inflows on May 9, 2022, totalled ₦14,563,702.56, bringing the cumulative sum to ₦117,938,762.29. Pinheiro further drew the witness’s attention to cash withdrawals that followed the inflows. Asked to identify the individual who made a ₦10 million cash withdrawal from the account, Egoro replied, “My Lord, it is Yakubu Siyaka A.” He confirmed that Yakubu Siyaka A. made cash withdrawals on several dates, namely May 9, 10, 11, 13, 16, 17, 18, 19, 20, 23, 24 and 26, 2022. In total, the witness said the cash withdrawals made by Yakubu Siyaka A. between May 9 and May 26, 2022, amounted to ₦116,600,000. When asked whether, in view of his testimony, almost the entire inflow of ₦117,938,762.29 from the local governments in May 2022 was withdrawn in cash, Egoro answered, “Yes, my Lord.” The witness further told the court that by May 31, 2022, only a balance of about N1,00, 289,41 (One million, Two hundred and Eighty-nine Naira Forty-one kobo) remained in the Fazab account. Turning to June and July 2022, Egoro testified that there were consistent inflows from various Kogi State local governments. He stated that the total inflow for June 2022 was ₦108,793,086.69, while July 2022 recorded inflows of ₦141,718,056.30, bringing the total inflow for both months to ₦250,511,142.99. He confirmed that during the same period, Yakubu Siyaka A. continued to make cash withdrawals from the account. According to him, the total cash withdrawals in June and July 2022 amounted to ₦198,900,000. When asked if almost ₦200 million was withdrawn in cash from the inflows of the two months, the witness responded, “Yes, my Lord, that’s correct.” Egoro further testified that the pattern of inflows from Kogi State local governments and corresponding cash withdrawals persisted in August and September 2022. He also confirmed that similar credit entries and withdrawal patterns were observed in October, November and December 2022.  

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EFCC Arraigns BFI Group Corporation, Six others for Alleged €100m Fraud

Fola Badmus07 mins

The Economic and Financial Crimes Commission, EFCC, on Thursday, January 29, 2026 arraigned BFI Group Corporation, Reuben M. Jaja, Uzor Chidi Jerry, David Femi James, Imeobong Jumbo Udom, Adeola Edward and Emeka Emmanuel Okorie before Justice M.S Idris of the Federal Capital Territory, FCT, High Court, Jabi, Abuja for alleged fraud to the tune of €100 million (One Hundred Million Euros). They were arraigned on a five-count amended charge bordering on fraud, conspiracy and false pretence. At Thursday’s proceedings, prosecution counsel, Ekele Iheanacho, SAN drew the attention of the court to an amended charge, dated January, 27, 2026 and filed the same date, asking the court that the same charge be read to the defendants to enable them take their plea. Count one reads: “That you, BFI GROUP CORPORATION, REUBEN M. JAJA, UZOR CHIDI JERRY, DAVID FEMI JAMES, IMEOBONG JUMBO UDOM, ADEOLU EDWARD, EMEKA EMMANUEL OKORIE and other persons (at large) between the 12th of August, 2020 and March, 2021 in Abuja within the jurisdiction of this Honourable court with intent to defraud, conspired amongst yourselves to induce the Central Bank of Nigeria to confer benefit on BFI Group Corporation by false pretence and thereby committed an offense contrary to and punishable under Section 8 (a) and 1 ( 3) of the Advance Fee Fraud and Other Related Offenses Act.” Count two of the charge reads: “That you BFI GROUP CORPORATION and REUBEN M. JAJA between the 12th of August, 2020 and March 2021 in Abuja within the jurisdiction of this Honourable court with intent to defraud, did attempt to obtain Certificate of Capital Importation for the sum of €100,000,000 (One Hundred Million Euros) in favour of BFI Group Corporation by falsely claiming that the said amount was paid into account no. 010147 – EUR – CDACBN – 52 maintained by the Central Bank of Nigeria (CBN) when you knew that no such account number existed in the CBN and thereby committed an offence contrary to Section 8 (b) of the Advance Fee Fraud and other Fraud Related Offences Act, 2006 and punishable under Section 1(3) of the same Act.” They pleaded “not guilty” to all the charges when they were read to them, following which the prosecution counsel asked the court for a trial date and a date to respond to the defendants’ bail applications which were served to him right in the court. Speaking on behalf of other defence counsels, Chinedu Eze, counsel to the first and second defendants, prayed the court to accept his oral bail application, citing Section 32(1) to (3) of the Administration of Criminal Justice Act 2015, ACJA and Abiola Vs FRN 1995. He further urged the court to accept his oral application and grant the second defendant bail on self-recognition as a prominent king. Iheanacho objected to the submission of the defence counsel stating that the judicial precedents mentioned were wrongly cited as they only apply to suspects who are in detention and still under investigation, noting that the affected are no longer suspects in EFCC’s detention but defendants before the court. “My lord, a suspect who has been charged is no longer a suspect but a defendant and the application of Section 162 of ACJA guides and regulates the issue of bail in a criminal trial like this. I don’t know the first defendant and this is the first time I am seeing him. The reference also made by counsel in Abiola Vs FRN 1995 does not apply. It was before the advent of ACJA which guides us now. They have applied in writing and their applications are still pending before this court. For them to have applied for bail in writing while the prosecution is expected to reply, then turn around to say that it is now oral is not right. In the interest of fair hearing as guaranteed in Section 26 of the 1999 Constitution of the Federal Republic, they have to be consistent with their request. Such application is misplaced and should be discountenanced my lord,” he said. Justice Idris adjourned the matter till February 3, 2026 for ruling and adoption of bail and ordered the fourth defendant to be remanded in the EFCC holden facility, while others were remanded in Kuje Correctional Centre.  

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Lagos Court Jails Two for N36.5m Theft

Fola Badmus05 mins

Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, on Tuesday, January 27, 2026, convicted and sentenced the duo of Obiesie Elyon Chukwugene and Afolabi Adebayo Olumuyiwa to one year imprisonment each for N36,570,000.00 ( Thirty Six Million, Five Hundred and Seventy Thousand Naira) theft. They were initially arraigned alongside a firm, D Velvetbox Agro Farm Limited, by the Economic and Financial Crimes Commission, EFCC, Lagos Zonal Directorate 2, on November 21, 2024 on a 15-count charge bordering on stealing. Count one reads: “Obiesie Elyon Chukwugene, being the Managing Director of D Velvetbox Agro Farm Limited, a registered company incorporated in Nigeria, on or about 27th May, 2023 in Lagos, within the jurisdiction of this Honourable Court, dishonestly converted to your own use the aggregate sum of N5,000,000.00 ( Five Million Naira only) belonging to Judith Okoli by dishonestly representing to her that the money was for investments into poultry farming, whereas you used the money and settled debts to other investors.” Count two reads: “Afolabi Adebayo Olumuyiwa, trading under the name and style, Triple J Farm, being a registered business name in Nigeria, on or about 31st March, 2023 in Lagos, within the jurisdiction of this Honourable Court, dishonestly converted to your own use the aggregate sum of N 5,000,000.00(Five Million Naira only) belonging to Judith Okoli by dishonestly representing to her that the money was for investments into poultry farming, whereas you used the money and settled debts to other investors”. The defendants had pleaded “not guilty” to all the counts, prompting the prosecution to open trial. During the trial, prosecution counsel, A. M. Dambuwa, called two witnesses and tendered several documents, which were admitted as exhibits by the court. However, during the proceedings, the defendants were re-arraigned on an amended two-count charge, to which they pleaded “guilty.” Delivering judgment on Wednesday, Justice Oshodi held that the prosecution proved its case beyond reasonable doubts and found the defendants guilty as charged. “I find the defendants guilty on the amended information and I convict them accordingly. This is the judgment of the court,” the judge held. The court , consequently, sentenced the first and second defendants, Chukwugene and Olumuyiwa, to one year imprisonment each, without an option of fine, with effect from the November 21, 2024 when they were remanded at the Correctional Centre. The judge also convicted the company, D Velvetbox Agro Farm Limited, with an option of fine in the sum of N 1,000,000, which shall be paid through the first convict, Chukwugene, who is the Managing Director. The court ordered a joint payment of restitution in the sum of N5,000,000 by both the first and second convicts within five months. The court also ordered that the Toyota Camry recovered from the first convict be forfeited to the petitioner, Judith Okoli, and further directed that the vehicle be released to her or any person authorized by her in that regard. The convicts bagged their imprisonment when they dishonestly collected the sum of N36, 570, 000 from Judith Okoli by representing to her that the money was for investments into poultry farming, whereas they used the money to settle debts they owed other investors. They were charged to court and convicted.

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EFCC, NEITI Strengthen Collaboration in Tackling Extractive Fraud

Fola Badmus04 mins

The Economic and Financial Crimes Commission, EFCC and Nigeria Extractive Industries Transparency Initiative, NEITI have resolved to strengthen their collaboration towards seeing better performance from Nigeria’s extractive industries.   This pact was made on Wednesday, January 21, 2026 when Honourable Musa Sarkin Adar, NEITI’s Executive Secretary led his management team on a courtesy visit to Ola Olukoyede, the Executive Chairman of EFCC at the Commission’s corporate headquarters in Jabi, Abuja.   Addressing Adar, Olukoyede stated that the extractive industry was the mainstay of the Nigerian economy and enjoined Adar to see his appointment as an opportunity to oversee and monitor transparency and accountability processes in an industry that continues to sustain the economy of Nigeria.   The EFCC’s boss recalled that the Commission has been working together with NEITI over the years, “but upon my appointment as Chairman of EF we took it to the next level. Your report is like raw materials for us to work with and with your report over the years, we have been working and making recoveries. I can also promise you that in your own time, we will collaborate with you, probably more than we did with your predecessor. We want to continue and strengthen our collaboration and take it to another level.”   Speaking further, the EFCC boss noted that the enhanced collaboration may see improvements on the existing Memorandum of Understanding between the two agencies of government.   “We have an MoU with your organization. We’re going to review it and see what we need to improve on. Your Act may not have given you teeth, but mouth and hand to work, but we will lend you our teeth to bite from time to time,” he said.   In his remarks, Adar, who was appointed in November 2025, disclosed that the visit was in line with his prioritisation of critical stakeholders’ engagement, pursuant to NEITI’s mandate and his desire to enhance the existing EFCC-NEITI collaboration.   “I prioritize engagement with key institutions whose statutory mandate align closely with NEITI’s responsibility to promote transparency and accountability in Nigeria’s explorative sector. I’ve been extensively briefed on strategic partnership between our agencies and the commendable work being carried out over the years. I wish to commend the effort of both agencies and to use this opportunity to ensure ways of further strengthening our existing partnership.   He further stressed that the meeting provided the opportunity to reaffirm the strong institutional relationship between NEITI and the EFCC under the existing Memorandum of Understanding and to renew shared commitment to addressing systemic weaknesses that undermine the effective governance of the extractive sector, particularly as Nigeria prepares to host EITI, the global partner body.

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Enugu Govt Recovers ₦1.28bn From Sujimoto CEO Over Smart School Funds

Wale busari03 mins

The Enugu State Government has recovered ₦1.284 billion from Mr Olasijibomi Ogundele, Chief Executive Officer of Sujimoto Luxury Construction Ltd, following an investigation by the Economic and Financial Crimes Commission into the alleged diversion of funds earmarked for the construction of Smart Green Schools in the state. The recovered funds, which include payments made to the company for projects reportedly abandoned or largely unexecuted, were formally handed over to the state government on Wednesday at the EFCC Enugu Zonal Office through bank drafts and cheques. While presenting the cheques, EFCC Zonal Director in Enugu, Daniel Ise, said the recovery was carried out in line with the commission’s statutory responsibility to trace, recover and return public funds lost to economic and financial crimes. He explained that the action followed a petition submitted by the Enugu State Government, which triggered a full-scale investigation by the commission. “As of today, we have been able to recover drafts to the tune of ₦1,234,350,000 and an additional ₦50,000,000, bringing the total to ₦1,284,350,000 for the benefit of Enugu State government,” Ise said. He credited the progress made so far to the diligence and professionalism of EFCC officers handling the matter, but stressed that the recovery and handover did not signal the conclusion of the investigation. According to him, the commission will continue to scrutinise all aspects of the petition to ensure that no public funds remain unaccounted for. “This does not mark the end of the case. We will look at every facet of the petition to ensure that every kobo belonging to the Enugu State Government that is not accounted for is tracked and recovered,” he said. Ise added that where evidence of criminal wrongdoing is established, the EFCC would proceed with prosecution in line with existing laws. He also cautioned contractors to strictly comply with relevant regulations, particularly the Procurement Act. The EFCC reaffirmed its commitment to working with governments at all levels to protect public resources, warning that accountability in the execution of public contracts remains non-negotiable.

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Alleged N125m Fraud: Ex- Reps Gave Me 14 Dud Cheques -Witness Tells Court

Wale busari05 mins

The First Prosecution Witness, PW1, Mustapha Usman in the trial of a former member, House of Representatives, Aliyu Ibrahim Gebi on Monday, January 19, 2026 narrated before a Federal High Court, sitting in Abuja and presided over by Justice Jude Onwuegbuzie how the defendant gave him 14 dud cheques worth N125, 000.000 (One Hundred and Twenty Five Million Naira). The witness, while being led in evidence by prosecution counsel Slyvanus Tahir, SAN disclosed that he met the defendant through Hajiya Aishatu Dahiru Ahmed, a then House of Representative member. According to him, “In 2011, Gebi approached Honourable Aishatu for a friendly loan of N125 million and it was granted. I was there when the first defendant wrote an undertaking to repay in 60 days’ time without interest. At the expiry date of the 60 days, he did not fulfil his obligation, after which I met with the defendant, for the repayment of the loan. “Thereafter, he gave me some cheques, totalling N125, 500,000, (One Hundred and Twenty-five Million, Five Hundred Thousand. The N500, 000 (Five Hundred Thousand) on it was when I was following up on the repayment, he told me he was expecting some money from the United States of America and he asked me for N1million for his ticket and I gave him N500,000 to reduce the risk. Some of the cheques were from Craft Technology Ltd while some were directly from the first defendant’s personal account. The cheques were issued by the first defendant in favor of my company Musty Petroleum Limited. They were 14 in total.” Testifying further, he said, “I presented the cheques to UBA and they were returned unpaid. I was told withdrawal attention was required. Because the cheques were UBA cheques where I also have an account, I got to know that Craft Technologies Ltd and the first defendant personal accounts were not funded. I went back to him and he kept on promising that he will pay.  When the payment was not forthcoming, I wrote a petition to EFCC and at that point, he started paying. “He paid the first N20 million and another N34 million. He was paying in bits, up till when he started the court case. The last payment was about two weeks ago. I got a credit of N12 million. So when we came to court the last time, which was December 18, 2025. He told me he had finished paying and I said to him that that was not correct. He looked at his records and he paid the outstanding the same day after leaving the court. The outstanding was N10, 500,000 (Ten Million, Five Hundred Thousand.” The letter of undertaking, dated December 19, 2011 was tendered and admitted in evidence, marked Exhibit PW1a. The 14 cheques in favor of Musty Technology Ltd, dated January 12, 2012 were tendered and admitted in evidence, marked PW1b to PW1xiv. The petition to the EFCC, dated September 13, 2012, was equally admitted and marked PW16l. Justice Onwuegbuzie adjourned the matter till January 21, 2026 for continuation of trial. Gebi was first arraigned on January 29, 2013 before Justice Abba Mohammed of the Federal Capital Territory High Court on a13-count charge. With Justice Mohammed’s elevation to the Court of Appeal, the case was reassigned to Justice Onwuegbuzie.

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EFCC Hands Over Recovered N802.4m to First Bank

Fola Badmus04 mins

The Benin Zonal Directorate of the Economic and Financial Crimes Commission, EFCC on Monday, January 12, 2026 handed over the sum of N802,420,000 ( Eight Hundred and Two Million, Four Hundred and Twenty Thousand Naira only) to First Bank Nigeria Plc. The money was recovered from a suspect, Ojo Eghosa Kingsley who took unlawful possession of over N1.3 billion belonging to the bank. The bank, in its petition to the EFCC, had alleged that system glitches led it to erroneously credit the account of Kingsley, a customer of the bank with the said amount. The Commission in its investigation discovered that the suspect, upon the receipt of the money, transferred a good measure of it to the bank accounts of his mother, Itohan Ojo and that of his sister, Edith Okoro Osaretin, and committed part of the money to completion of his building project and the funding of a new flamboyant lifestyle. With the recovery of the money from the identified bank accounts, the EFCC handed it over in drafts to First Bank. The Acting Director, Benin Zonal Directorate of the EFCC, Deputy Commander of the EFCC, DCE Sa’ad Hanafi Sa’ad, while handing over the money, stated that the EFCC will continue to discharge its mandate effectively in the overall interests of the society. “The EFCC Establishment Act empowers us to trace and recover proceeds of crime and restitute the victim. In this case, First Bank was the victim and that is exactly what we have done. We will continue to discharge our duties to ensure that fraudsters do not benefit from fraud and that economic and financial crimes are nipped in the bud,” he said. In his response, Olalere Sunday Ajayi, Business Manager, First Bank, Benin, who received the drafts on behalf of the bank, commended the EFCC for the swiftness and the professionalism it brought to bear in the handling of the matter and expressed the bank’s gratitude to the Commission. He described the EFCC as one of Nigeria’s most effective and reliable institutions. Kingsley and all other suspects in the matter have been charged to court for stealing by the EFCC.

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