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Tag: EFCC

EFCC Commences Investigation of $86,500, 305,150 Riyals Intercepted at Kano Airport

Fola Badmus33 mins

The Economic and Financial Crimes Commission, EFCC, Kano Zonal Directorate has commenced investigation of $86,500 (Eighty-Six Thousand Five Hundred United States Dollars), 305,150 (Three Hundred and five, One Hundred and Fifty Saudi Riyals, and 200 Euros confiscated by officers of the Nigeria Customs Service, NCS at the Mallam Aminu Kano International Airport. The funds were discovered in an unaccompanied bag suspected to have been smuggled into the country and intercepted on Sunday April 27, 2025 when a clearing agent, Sale Bala, attempted to retrieve the bag. Upon physical inspection, Customs officers uncovered the foreign currencies concealed in bed spreads (duvets) and date packs tucked in the luggage. Further investigation led to the arrest of Bala and a second suspect, Abdullahi Tahir, who was reportedly tasked with receiving the bag after clearance. The money was handed over to the EFCC by Chief Superintendent of Customs, CSC Abdulahi Hashim and received on behalf of the Commission by Assistant Commander of the EFCC, ACE11 Aminu Bashir. The suspects as well as the seized funds are in the custody of the Commission and will be charged to court upon conclusion of investigations. The EFCC commended the Nigeria Customs Service for its vigilance and reiterated the importance of inter-agency cooperation in safeguarding the nation’s economy. The Commission, in collaboration with Customs and other stakeholders, is intensifying efforts to enlighten stakeholders on the legal requirements for cash movement and the consequences of non-compliance. On Saturday, April 26, 2025 the EFCC, ICPC and the Nigeria Customs Service jointly organized a sensitization program to educate all stakeholders about cash movement in and out of Nigeria on the legal requirements for the movement of cash as enshrined in the Nigerian laws and regulations. The event witnessed a massive audience ranging from the bureau de change community, travel agencies, airport authorities and pilgrim boards as well as the Kano Chamber of Commerce & Industry.

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EFCC Receives Petition Against Mele Kyari Promises Swift Investigation

EFCC Receives Petition Against Mele Kyari Promises Swift Investigation

Fola Badmus14 mins

The Economic and Financial Crimes Commission (EFCC) has received a petition from a coalition of lawyers and civil society groups against the former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari. The petition, submitted on Friday, follows recent protests by the “Concerned Citizens Against Corruption” at the Federal Ministry of Justice in Abuja, where demonstrators called for a thorough probe into Kyari’s leadership and NNPCL’s transactions over the past five years. Similarly, on Wednesday, another group of lawyers under the banner of “Guardians of Democracy and Rule of Law” marched to the Ministry of Justice to formally petition the Attorney General of the Federation (AGF). Following this, the group also submitted a parallel petition to the EFCC. Receiving the petition on behalf of the EFCC chairman, Ola Olukoyede, the commission’s spokesman, Dele Oyewale, assured the petitioners that the issues raised would be thoroughly investigated.“The issues raised in the petition will be looked into and addressed,” Oyewale stated. The petition accuses Kyari of monumental fraud, tax evasion, economic sabotage, and abuse of office during his tenure from July 2019 to February 2025. Led by Asika Raymond, the Guardians of Democracy and Rule of Law alleged that Kyari, in collusion with certain contractors and consultants, inflated the costs of refinery rehabilitation projects, notably the Port Harcourt Refinery, where $1.5 billion was allegedly spent despite an initial $1 billion estimate for the rehabilitation of three refineries. The petition also highlights allegations of crude oil diversion, opaque financial transactions under the guise of “pipeline security” at a suspicious rate of 80,000 barrels per day, and irregularities in the $5 billion AKK Gas Pipeline Project. Further concerns were raised regarding fuel subsidy fraud during the COVID-19 pandemic when NNPCL reportedly increased petroleum imports, contrary to global trends of reduced fuel consumption. The petition questions the transparency of crude-backed loans worth $21.565 billion secured by NNPCL since 2019, alleging that the terms were unfavorable to Nigeria, ceding financial benefits to oil traders. Kyari is also accused of authorizing massive, undocumented spending on oil exploration projects without clear feasibility studies or demonstrated economic returns. The lawyers urged the EFCC to conduct a forensic audit of all payments made to consultants and contractors from 2019 to 2025, recover misappropriated funds, and collaborate with the Federal Inland Revenue Service (FIRS) to investigate suspected cases of tax evasion.

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EFCC Arrests 13 Suspected Internet Fraudsters in Abuja

Fola Badmus01 mins

Operatives of the Abuja Zonal Directorate of the Economic and Financial Crimes Commission. EFCC, have arrested 13 suspected internet fraudsters. They were arrested on Thursday, April 24, 2025 in their hideout in Kubwa, a suburb of Abuja, following credible intelligence on their suspected involvement in internet-related activities. Items recovered from the suspects include three laptops, 17 phones and two cars. They will be charged to court as soon as investigations are concluded.

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EFCC Arraigns Lexicon Multiconcept Media CEO for N459m Fraud

Fola Badmus06 mins

The Economic and Financial Crimes Commission, EFCC has arraigned the Chief Executive Officer, CEO, Lexicon Multiconcept Media Limited, Osabohem Alex Ologbosele, his company and one of his staff, Augustine Osas Iyoha before Justice E. Akpan of the Federal High Court sitting in Abuja. They were arraigned on six- count amended charges bordering on fraud, obtaining under false pretense and money laundering to the tune of N459, 050,000 (Four Hundred and Fifty Nine Million, Fifty Thousand Naira only). Before the charges were read to them, the prosecuting counsel, O.S Ujam, informed the court of her intention to substitute the initial charges filed on March 7, 2025, with the amended charge filed on March 10, 2025. The court granted her request to substitute the charges. Count one of the charge reads: “That you, Osabohien Alex Ologbosele, sometimes in the year 2023 and 2024 in Abuja within the jurisdiction of this Honorable court, directly took possession of the total sum of N340,000 (Three Hundred and Forty Million Naira) paid into your account with account number 202277** domiciled at Kuda Microfinance bank from the account number of Hope Onome Ogholemu with account number 08272*** domicile in Access Bank when you knew or reasonably ought to have known that the said sum formed part of the proceeds of an unlawful act and you thereby committed an offence contrary to Section 18 (2) (d) of the Money Laundering (Prevention and Prohibition) Act 2022 and Punishable under 18 (3) of the same Act. Count two of the charge reads: “That you, Lexicon Multiconcept Media Limited, sometime in the year 2023 and 2024 in Abuja, within the jurisdiction of this Honourable court, directly took possession of the total sum of N16,000,000 (Sixteen Million Naira), paid into your account with account number 63665292**** domiciled in Moniepoint Microfinance Bank, from the account of Osebohien Alex Ologbosele with account number 2022773919 domiciled at Kuda Microfinance bank, when you knew or reasonably ought to have known that the said sum formed part of the proceed of an unlawful act and you thereby committed an offence contrary to Section 18 (2)(d) of the Money Laundering (Prevention and Prohibition) Act 2022, and punishable under Section 18 (4) of the same Act. The defendants pleaded not guilty after the charges were read to them. In view of the not guilty plea, Ujam asked the court for an adjournment to enable the prosecution to open its case and call witnesses. Defence counsel, Samuel Ogala, drew the attention of the court to an application for bail for the first and second defendant which was filed on March 24, 2025 and the second application for the 3rd defendant, dated March 27, 2025, urging the court in the interest of justice to grant bail on liberal terms. However, Ujam told the judge of a 17 paragraph affidavit in response to the counter-affidavit of the defence dated April 2, 2025 and filed same date in opposition to the application for bail, urging the court to denial the application on the ground that the defendants are flight risks, who stopped reporting to the EFCC office for months and may fail to appear for their trial if granted bail. “My lord, the first defendant was arrested in November 2023, and he left in November 2024 and did not report back till February 5, 2025, and I believe that if granted bail, he may not appear for his trial,” she said. Thereafter, Justice Akpan after listening to the arguments of the two counsels on bail application adjourned the matter till May 2, 2025, for ruling for bail and ordered that the defendants be remanded in Kuje prison.

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EFCC Seeks Deeper Collaboration with Police

Fola Badmus03 mins

The Director of Investigations, Economic and Financial Crimes Commission, EFCC, Commander of the EFCC, CE Abdulkarim Chukkol has called for deeper collaboration between officers of the Commission and the Nigeria Police Force. He made the call in Abuja while on a courtesy visit to the Commissioner of Police, Federal Capital Territory, FCT Command, Saka Adewale Alao. Chukkol, who was accompanied on the visit by the Acting Director, Abuja Zonal Directorate, Assistant Commander of the EFCC, ACE I Michael Wetkas said the essence of the visit was to smoothen any work-related friction or misconception that may arise between operational and tactical officers of both law enforcement agencies. He noted that the success stories of the EFCC over the years have a direct bearing with collaboration with the Police. While appreciating the CP for receiving him and his entourage, Chukkol said that though the journey ahead was arduous, he was certain the new CP was equal to the task going by his good track record. In his response, CP Alao appreciated the Director and his team for the visit, stating that, “interestingly, on record, you are the first from EFCC to visit the FCT Command”. He noted that the strength of law enforcement was in in synergy and strategic collaboration at different levels to effectively deal with crimes. He further assured the team of his collaboration. Alao further noted that ‘Nobody is an island. Where one’s knowledge and experience stops, that of the other person starts and that is why we will come together and become stronger and better’. Other members of the entourage include Assistant Commander of the EFCC , ACE I Husseini Seidu, ACE I Adenike Sanni, ACE II Aliyu Wali Abubakar, ACE II Olayinka Macauly, Chief Superintendent of the EFCC, CSE Ngoundu Nguetar and Assistant Superintendent of the EFCC, ASE II Obinna Esinwa.

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Interpol Joins EFCC in Crackdown on N1.3tn CBEX Fraud

Fola Badmus04 mins

The Economic and Financial Crimes Commission (EFCC) has launched a full-scale investigation into a suspected N1.3 trillion crypto fraud linked to the now-defunct digital investment platform, CryptoBank Exchange (CBEX). The EFCC confirmed it is partnering with the International Criminal Police Organisation (INTERPOL) to track both local and international culprits behind the scam. CBEX, reportedly operated by foreign nationals in partnership with Nigerians, abruptly collapsed on Monday, leaving thousands of investors locked out of their accounts. Many woke up to find their balances wiped out, with the platform demanding additional deposits before access could be restored. EFCC spokesperson Dele Oyewale said the commission had already initiated a probe before the collapse, following intelligence reports. “We had our intelligence before the incident. We were already working on it, but now that the scheme has collapsed, the major actors and their collaborators will be brought in,” he said on Tuesday. He assured Nigerians that the EFCC is committed to exposing and dismantling Ponzi schemes like CBEX, highlighting that several similar operations are also under active investigation. “Additionally, there are similar frauds across the country that people are unaware of, and we are working to uncover them. We are on the local collaborators while we are partnering INTERPOL to trace the foreign operators,” Oyewale added. Although the exact scale of losses is yet to be officially verified, unconfirmed reports estimate the stolen funds at over $847 million (about N1.3 trillion), with both Nigerian and foreign investors affected. CBEX, which promised 100% returns within 30 days through online trading, began restricting withdrawals on April 9, 2025. In a move widely seen as a red flag, the platform began demanding deposits of $100 to $200 from users to “verify” accounts before allowing withdrawals — a tactic that lured even more unsuspecting victims before the final crash. The Securities and Exchange Commission (SEC) recently warned against unregistered trading platforms, emphasizing that the new Investment and Securities Act, 2025 makes it illegal to operate such platforms without proper licensing. SEC Director-General Dr. Emomotimi Agama urged prospective operators to seek registration to avoid sanctions. Meanwhile, CBEX’s collapse has sparked public outrage. In Ibadan, Oyo State, angry investors stormed the platform’s office in Oke Ado, vandalising the premises and carting away furniture in protest. Security forces, including the Nigeria Police and Operation Amotekun, were deployed to restore order. CBEX had been aggressively promoted on social media and among peer networks, luring thousands with the promise of high returns. Reports indicate the platform changed its domain multiple times between January 2024 and February 2025 — a tactic investigators now see as part of a deliberate effort to evade regulatory scrutiny.

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Internet Fraudster Surrenders Voluntarily to EFCC in Benin

Fola Badmus02 mins

An internet fraudster on Monday April 8, 2025 surrendered himself to the Acting Zonal Director of the Benin Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, Assistant Commander of the EFCC, ACEI Effam Okim The 28-year-old fraudster who hails from Oredo Local government area of Edo State explained that he turned himself in because he did not want to continue with the fraudulent practice for fear of being apprehended by Operatives of the Commission. “I reported myself because I wanted to stop and turn a new leaf”, he said. Prior to surrendering, the fraudster was a specialist in romance scam variants of internet fraud. “I tell my victims that I am from China and that I work as a medical doctor in a war- torn country. My victims are foreigners who I deceive into love relationships. I communicate with them in Chinese using a mobile app translator. I profess love for them by telling them how beautiful and attractive they are”, he said.

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EFCC Arrests 37 Suspected Internet Fraudsters in Port Harcourt

Fola Badmus01 mins

Operatives of the Port Harcourt’s Zonal Directorate of the Economic and Financial Crimes Commission, EFCC have arrested Thirty Seven (37) suspected internet fraudsters. They were arrested in Port Harcourt, Rivers State on Tuesday April 8, 2025 in an operation code named “operation eagle sweep”. They were arrested for alleged internet fraud after the Commission received credible intelligence on their activities in various hideouts within the State. Items recovered from them include different brands and models of exotic vehicles, smart phones, smart wrist watches, international passports, Automated Teller Machine, ATM cards of different banks and laptops containing incriminating materials and documents. The matter will be charged to court upon conclusion of investigations.

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