The Nation Newspaper

Tag: EFCC

  • EFCC chairman is genuinely committed to fighting corruption, says influencer Ogudu

    EFCC chairman is genuinely committed to fighting corruption, says influencer Ogudu

    Social media influencer Peter Omokiniovo Ogudu has shared his assessment of the Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, following a recent encounter.

    Ogudu, an actor and broadcaster-turned-influencer, had earlier taken a swipe at the anti-graft agency, accusing some EFCC operatives of corruption. He had cited an alleged incident during a sting operation at a hotel in Abuja to support his claims.

    However, in a recent video shared on his social media platforms and now circulating online, Ogudu said his perception changed after meeting Olukoyede.

    Read Also: EFCC arrests estate agent over N67m ‘fraud’

    According to him, the interaction left him with the impression that the EFCC chairman is genuinely committed to the fight against corruption in Nigeria.

    “He (EFCC Chairman) didn’t owe me anything. But after I posted the previous video where I lambasted EFCC officials at an Abuja hotel, which drew his attention, he invited me and took his time to set the record straight.

    “I deduced from his voice and feelings that he has the same passion I have for Nigeria in terms of having a new Nigeria where there is no corruption,” he said.

  • EFCC arrests estate agent over N67m ‘fraud’

    EFCC arrests estate agent over N67m ‘fraud’

    Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested a Lagos businessman, Alhaji Olakazeem Tijani, for an alleged land scam worth over N67 million.

    Tijani was arrested last Friday at Igando following a petition from his victim, Adekoya, dated July 14, last year.

    The suspect, it was gathered, was trailed by operatives for several months following his alleged refusal to honour lawful invitations by the EFCC and other security services.

    Adekoya in the petition submitted to EFCC’s Awolowo Road, Ikoyi office, accused Tijani and his firm, Latokatz Limited, of fraudulent misrepresentation, obtaining money under false pretence, criminal breach of trust, forgery and conversion of funds.

    He alleged that the claims arose from transactions carried out between February 2023 and January. last year, stating that he transferred over N67million from his bank accounts into Latokatz Limited’s Zenith Bank account for the purchase of properties and for construction.

    The payments, he stated, were made in two tranches: N44 million for the purported purchase of an uncompleted building in Isheri-Idimu, two shop units at Olugbede Market in Egbeda, and an acre of land along the Atan-Badagry axis; and N23 million for construction at a property in Isheri North GRA, OPIC, off the Lagos-Ibadan Expressway.

    READ ALSO: Mutfwang, Plateau APC and 2027 battle

    Adekoya alleged that the transactions were based on mutual trust and documents presented to him as proof of ownership and authority to sell the properties. However, he claimed that subsequent investigations showed that Tijani allegedly had no legal authority to sell the properties and that some of them did not exist. He further alleged that the documents presented to him were forged or unlawfully obtained.

    “I have all evidence of payments, transfers and instructions made to the Latokatz Limited Zenith Bank account,” the petitioner said, adding that despite repeated demands, no refund had been made.

    He also referenced an undertaking allegedly signed by Tijani on April 13, last year, at the palace of the Oba of Isheri-Olofin, where the dispute was initially reported. Under the agreement,Tijani was said to have promised to refund ₦44 million on or before June 8, 2025. Adekoya claimed the undertaking was not honoured.

    Citing sections of the Criminal Code Act, including provisions on obtaining under false pretence, stealing and conversion, as well as forgery and uttering of documents, the petitioner urged the EFCC to investigate the matter, arrest and prosecute the suspect, and recover the money allegedly defrauded him.

    The petition listed several documents attached in support of the claims, including bank statements, payment receipts, deeds of assignment, letters of allocation, surveys, correspondence and the alleged refund undertaking.

    Spokesman for the EFCC, Dele Oyewale, confirmed Tijani’s arrest, adding that he was still in the commission’s custody in Lagos.

    Lawyer to Tijani, Kolade Alo, said it was a case of misunderstanding between the suspect and complainant, declining further comments on the issue.

  • Firm, director acquitted of N964m fraud

    Firm, director acquitted of N964m fraud

    An Ikeja Special Offences Court yesterday discharged and acquitted a company, Purple Prime Limited and its Director, Adebowale Johnson, of alleged N964 million fraud involving a second generation bank (names withheld).

    The trial judge, Justice Ismail Ijelu, held that the prosecution failed to establish a criminal  liability case against the defendants. Justice  Ijelu faulted the Economic and Financial Crimes Commission (EFCC) for failing to prove the offences of conspiracy and stealing against the defendants.

    The judge held that the evidence presented by the prosecuting agency fell short of the standard required by law.

    Justice Ijelu held that the prosecution relied on the movement of funds through various accounts without establishing unlawful appropriation, criminal intent, or a meeting of minds between the defendants.

    The court further observed that bureau de change operators who testified before the court acted as neutral intermediaries in the ordinary course of business and were not shown to have conspired with the defendants.

    The judge held that tracing funds to accounts linked to the defendants only established financial movement and does not amount to proof of stealing or conspiracy.

    Read Also: Tinubu’s reforms restoring global confidence in Nigeria – Shettima

    Justice Ijelu further held that conspiracy cannot be inferred from mere association or commercial transactions, adding that there must be credible evidence of a shared criminal intention and coordinated action, which was absent in the prosecution’s case.

    The court held that the EFCC failed to present digital forensic evidence, communication records, or corroborated extra-judicial statements capable of establishing coordinated planning among the defendants.

    Justice Ijelu also noted that some individuals allegedly involved in the transaction chain were neither arrested nor charged.

    According to the court, the evidence before it exposed weaknesses in the internal controls and safeguards of the bank, rather than deliberate criminal conduct by the defendants.

    Justice Ijelu held that the EFCC failed to prove its case beyond reasonable doubt and, accordingly, discharged and acquitted Purple Prime Limited and Adebowale Johnson of the charges.

    The EFCC had, on November 23, 2024 filed a 14-count charge against the defendants, accusing them of conspiring to steal ₦964 million from the bank through  online banking and ATM fraud.

    The defendants pleaded not guilty to all the charges.

    During the trial, the prosecution called four witnesses and tendered documents, all of which were admitted in evidence.

  • EFCC arraigns former national coordinator of NEDC for alleged N2.2bn fraud

    EFCC arraigns former national coordinator of NEDC for alleged N2.2bn fraud

    The Economic and Financial Crimes Commission (EFCC), on Tuesday arraigned the former National Coordinator of Multi-Sectoral Crisis Recovery Project, MCRP, North East Development Commission, NEDC, Alhaji Danjuma Mohammed and two others; Prince Achem and Aminu Alhaji (at large) before Justice K. N Ogbonnaya of the Federal Capital Territory Court, Zuba, Abuja for an alleged N2,280,000.00 (Two Billion, Two Hundred and Eighty Million Naira) fraud.

    They were arraigned on a 54 count amended charge bordering on conspiracy, false pretence and forgery to the tune of N2.2bn.

    At Tuesday’s proceedings, prosecution counsel, Adeola Olarenwaju informed the court of the charge filed on December 3, 2025 and sought for its substitution with the 54 amended -count charge of January 22,  while relying on the proof of evidence attached. The court granted his request.

    READ ALSO: Fed Govt set to reclaim ungoverned spaces with re-engagement of military retirees

    Count one of the charge reads:

    That you Alhaji Danjuma Mohammed being the National Coordinator of Multi- Sectoral Crisis Recovery Project, (MCRP) North East Development Commission, Prince Chibuike Echem and Aminu Alhaji (still at large) between May, 2022 and February, 2024 in Abuja, within the jurisdiction of the High Court of the Federal Capital Territory conspired amongst yourselves to do an illegal act, to wit; obtaining by false pretenses the cumulative sum of (N2,280,000.00, (Two Billion, Two Hundred and Eighty Million) from one Kenneth Ejiofor Ifekudu, the managing director of Diamond Leeds Limited and Diamond Leeds Limited and thereby committed an offence contrary to Section 8(a) of the Advance Fee Fraud and other Fraud related Offences Act, 2006 and Punishable under Section 1 (3) of the same Act.

  • Hearing stalled on EFCC’s suit seeking Malami’s property’s forfeiture

    Hearing stalled on EFCC’s suit seeking Malami’s property’s forfeiture

    The planned hearing of a suit by the Economic and Financial Crimes Commission (EFCC) seeking the forfeiture of 57 properties linked to a former Attorney General of the Federation (AGF), Abubakar Malami, was stalled on Tuesday before a Federal High Court in Abuja.

    Justice Emeka Nwite had on January 6 issued an order for the interim forfeiture of the landed property said to be located in Abuja, Kebbi, Kano, and Kaduna states.

    Justice Nwite had granted the order while ruling on an ex parte motion by the EFCC, which was moved by its lawyer, Ekele Iheanacho (SAN)

    In the ruling, Justice Nwite also directed the publication of the interim order of forfeiture in any national daily for any person(s) or body (ies) who might have an interest in the property to appear before the court and show cause within 14 days of the publication, why a final order of forfeiture to the Federal Government should not be made.

    He then adjourned till January 27 for the EFCC to report compliance.

    The case was not listed on the court’s cause list on Tuesday.

    At the commencement of the court’s sitting on Tuesday, Jibrin Okutepa (SAN), who led a team of lawyers for the EFCC, told the court that the case was adjourned to January 27 for the EFCC to report compliance with the orders made earlier.

    Read Also: Malami & Mohammed: Haunted by their past

    Okutepa said when he enquired from the court’s registrar why the case was not listed, he was told it was a vacation case.

    He urged the court to hear the case since it was fixed for Tuesday.

    Justice Nwite, however, told Okutepa that it is the court’s tradition to return to the Chief Judge all cases heard during the court’s vacation at the end of the vacation period for the Chief Judge to reassign such cases.

    The judge added, “I think you will have to pursue this administratively so that you can bring this (the case) to his (CJ’s) notice to fast-track the process.”

    He said the EFCC would be informed if the case is reassigned to his court by the Chief Judge.

  • NDIC, EFCC renew commitment to joint fight against financial crimes

    NDIC, EFCC renew commitment to joint fight against financial crimes

    The Nigeria Deposit Insurance Corporation (NDIC) and the Economic and Financial Crimes Commission (EFCC) have reaffirmed their commitment to deepening collaboration in combating financial crimes, with particular emphasis on asset recovery and the prosecution of individuals whose actions undermine the stability of Nigeria’s banking system.

    The NDIC restated its resolve to strengthen cooperation with the anti-graft agency to enhance the recovery of assets and debts from failed banks, as well as to support investigations and prosecutions linked to bank failures.

    The Managing Director and Chief Executive of the NDIC, Thompson Oludare Sunday, made this known during a courtesy visit by the Corporation’s management team to the Executive Chairman of the EFCC, Olanipekun Olukoyede, at the Commission’s headquarters in Abuja.

    In a statement issued on Sunday by the NDIC’s Head of Communication and Public Affairs, Hawwau Gambo, Sunday said robust partnership with the EFCC is critical to the effective liquidation of failed banks, a process that involves asset realisation and debt recovery, with proceeds used to settle uninsured deposits.

    He noted that cases of asset stripping and concealment require coordinated efforts, particularly in asset tracing, recovery and enforcement, adding that the EFCC’s expertise is vital in achieving these objectives.

    Sunday also identified banking fraud investigations and the prosecution of individuals whose actions contribute to bank collapses as key areas where both institutions can further strengthen their cooperation.

    He stressed that NDIC plays a vital role in maintaining financial system stability through the execution of its four statutory mandates in deposit guarantee, bank supervision, distress resolution and bank liquidation.

    According to him, the Corporation’s overarching goal is to safeguard depositors’ funds, ensure prompt compensation when banks fail, and sustain public confidence in the financial system.

    He also observed that both institutions share common values of integrity, professionalism and accountability, describing the visit as a step towards reinforcing institutional partnership, especially in areas where EFCC’s investigative and prosecutorial capacity is essential to NDIC’s mandate.

    “We aim to further strengthen our collaboration, deepen institutional synergy and explore additional avenues for mutual support in the pursuit of national financial system stability. 

    “The EFCC has been our partner and we want this to continue. We look forward to an expanded and more impactful partnership between our two esteemed institutions.

    “Your experience has and will continue to greatly enhance our recovery efforts.  Additionally, we have that strategic responsibility for prosecuting individuals whose actions contribute to the failure of banks. We therefore seek closer collaboration with the Commission in this critical area.”

    Read Also: Delta police bust kidnapping syndicate, nab 10 suspects

    Responding, the EFCC boss, Olukoyede, reiterated the Commission’s commitment to its longstanding working relationship with the NDIC in tackling financial crimes within the banking sector.

    He acknowledged the history of cooperation between the two agencies, particularly in investigations and capacity development related to banking operations.

    Olukoyede also briefed the delegation on key departments within the EFCC, including the Bank Fraud Section, which handles matters related to the NDIC.

    He encouraged the Corporation to submit any outstanding cases for prompt assessment, noting that this would enhance tracking, accountability and case resolution.

    The EFCC Chairman further highlighted the role of the Commission’s Fraud Risk Assessment and Control Department, which focuses on proactive monitoring, compliance, sound risk management and internal controls in both public and private sector institutions.

    He described these efforts as part of the EFCC’s broader mandate to protect and strengthen the Nigerian economy.

    Olukoyede assured the NDIC of the EFCC’s continued support in deepening institutional synergy to combat financial crimes, improve asset recovery, and ensure that offenders who undermine the banking sector are brought to justice.

  • EFCC indicts banks, Fintechs in N162b scams

    EFCC indicts banks, Fintechs in N162b scams

    The Economic and Financial Crimes Commission (EFCC) has indicted a new generation bank, six Fintechs and some microfinance banks in major financial scams by allowing fraudsters to launder huge sums of money.

    Public Affairs Director of the Commission, Mr. Wilson Uwujaren, dropped the hint at a news conference at the commission’s Abuja headquarters yesterday.

    According to him, the compromised institutions allegedly allowed cryptocurrency transactions worth N162 billion to pass through without due diligence within the 2024/2025 financial year.

    Uwujaren said that the financial institutions clearly compromised banking procedures and allowed the fraudsters to safely change their ill-gotten gains into digital assets and move them to safe destinations.

    He said: “A total sum of N18.1 billion was moved through the financial system without due diligence of customers by the banks.

    “It is worrisome that investigations by the commission showed that cryptocurrency transactions to the tune of N162 billion passed through a new generation bank without any due diligence.

    “Investigations showed that a single customer maintained 960 accounts in another new bank and all the accounts were used for fraudulent purposes.

    READ ALSO: When hospitals kill

    “That is bad news but the good news is that following our intervention the commission has been able to recover N33.62 million, which has been returned to some of the victims.”

    He explained that the scams were in two categories, adding that the first was a syndicate of fraudsters that employed an airline discount scheme to lure their victims.

    The EFCC official said that they advertised a discount system for the purchase of flight tickets of a particular foreign carrier.

    He said: “The payment module is designed in such a way that the victims’ payment is actually made into the account of the airline.

    “After payment is made the passenger’s entire funds in his bank account are emptied. Investigations showed that more than 700 victims have been scammed so far, with a loss of N651 million,” he said.

    According to him, investigations show that the scheme is being masterminded by a foreign national; the commission has so far recovered and released N33 million to victims of the fraud.

    He said that another scheme involved a company – Fred and Farid Investment Limited (simply called FF investment) – lured Nigerians into a bogus investment arrangement.

    Uwujaren said: “More than 200,000 victims have been defrauded in this regard. A total sum of N18 billion was raked in through nine companies offering diverse investment packages.

    “The companies are: Credio Banco Limited; Deliberty Rock Limited; Liam Chumeks Global Service; Ngwuoke Daniels Technology; and Icons Autos and Import Merchant.

    “Others are: Newpace Technology Services Limited, Primepath Ways Ventures Limited, Kaka Synergy Network Limited and Sunlight Tech Hub Services Limited.”

    He said that foreign nationals were behind the schemes, while there are three Nigerian accomplices who have been arrested and charged to court.

    The EFCC director said that the masterminds were on the run and efforts are being made to bring them to book.

    “The Commission is calling on regulatory bodies to bring financial institutions to compulsory compliance with regulations in the areas of Know Your Customers (KYC), Customer Due Diligence (CDD), Suspicious Transaction Reports (STRs) and others.

    “Deposit Money Banks, Fintechs, Micro Finance Banks found to be aiding and abetting fraudsters should be suspended and referred to the EFCC for thorough investigation and possible prosecution.

    “Negligence and failure to monitor suspicious and structured transactions by banks should no longer be allowed.”

    Cautioning members of the public to be wary of these actors, he said that the EFCC would continue its works against money laundering by fraudulent actors.

    He urged financial institutions to firm up their operational dynamics and save the nation leakages and compromises bleeding the economy. 

  • EFCC re-arraigns businessman, firm over alleged $550,000 fraud

    EFCC re-arraigns businessman, firm over alleged $550,000 fraud

    The Economic and Financial Crimes Commission (EFCC) yesterday arraigned a businessman, Wilson Opuwei, before Justice Olubunmi Abike-Fadipe of the Special Offences Court sitting in Ikeja, Lagos, over an alleged $550,000 fraud.

    Opuwei, alongside his company, Dateline Energy Services Limited, is facing a four-count charge bordering on obtaining by false pretences and stealing.

    The defendants pleaded not guilty to the charges when first arraigned before the court.

    The defendant was previously arraigned on May 23, 2011, before Justice Habeeb Abiru of the Lagos State High Court, now of the Supreme Court of Nigeria.

    The matter was transferred to Justice Fadipe who commenced the matter de novo.

    The prosecution, led by Nwandu Ukoha told the court that Opuwei allegedly obtained the sum of $550,000 sometime in April 2011 in Lagos from a businessman, Prince Donatus, under the false pretence that he would supply him 5000 metric tonnes of kerosene from the Pipeline Products and Marketing Company (PPMC), a representation he knew to be false.

    READ ALSO; Arewa, this has to stop

    Ukoha who was holding brief for Fadeke Giwa informed the court that it had closed its case nine years ago, while the defendant failed to open its defence, leading to the matter starting afresh.

    However, the defence contended that it started its defence five years ago.

    The matter was before Justice Abiru, who was moved to the Court of Appeal in 2012.

    The casefile, thereafter, was transferred to Justice Onigbajo, then Justice Lawal Akapo who was elevated to the Court of Appeal, after which the case was reassigned to Justice Fadipe.

    The defence counsel reminded the court that Opuwei was admitted to bail on May 22, 2012, by Justice Abiru and urged the court to allow the defendant to continue on the same bail conditions.

    In his ruling, Justice Fadipe ordered that the first defendant should continue on the bail earlier granted and adjourned the matter to March 19, 30, and 31, as well as April 1 and 2, 2026, for trial.

  • Alleged $13m fraud linked to Achimugu’s firm: Court rules March 25 on EFCC’s final forfeiture request

    Alleged $13m fraud linked to Achimugu’s firm: Court rules March 25 on EFCC’s final forfeiture request

    A Federal High Court in Abuja has scheduled ruling for March 25 on a motion filed by the Economic and Financial Crimes Commission (EFCC) for the final forfeiture of $13 million linked to Oceangate Engineering Oil & Gas Limited, a firm associated with businesswoman, Aisha Achimugu.

    Justice Emeka Nwite chose he date on Monday after EFCC’S lawyer, Rotimi Oyedepo (SAN), and Oceangate’s lawyer, Darlington Ozurumba, made their final submissions.

    Last year, the court issued an order for the interim forfeiture of the funds, which the EFCC claimed were proceeds of unlawful activities.

    The court ordered the anti-graft agency to publish the interim order in a national daily for any interested party to show why the money should not be permanently forfeited to the Federal Government.

    In response to the publication, Oceangate filed an affidavit claiming ownership of the money.

    The company, among others, rejected EFCC’s allegation that the funds formed proceeds of unlawful activities.

    It also claimed that the funds were legitimately sourced to pay for its interest in two oil licences – PPL 302 and PPL 3007 – which it won sometime in 2024.

    But in its response to Oceangate’s affidavit to show cause, the EFCC gave details of its investigation, claiming that the $13 million was from unlawful sources.

    The commission also claimed that part of the money was contributed by contractors engaged by the Lagos State government.

    Read Also: IMF raises Nigeria’s 2026 growth forecast to 4.4%

    On September 15, last year, the same court granted similar motion by the EFCC for the final forfeiture of $7 million, which it claimed to have recovered from a commercial bank branch in Ikoyi, Lagos, but which nobody came forward to claim.

    A company, Felak Group, later issued a statement to dismiss reports linking its Chief Executive Officer, Dr. Aisha Achimugu, and its subsidiary, Oceangate Engineering Oil & Gas, to a controversial $7 million cash transaction allegedly tied to the commercial bank.

    In its response to Oceangate’s affidavit to show cause, the EFCC said: “In the course of our investigation, we found that Iliya Wakil, the deponent of the respondent’s affidavit to show cause, was a mere nominal director with no shareholding in Oceangate Engineering Oil and Gas Limited and an employee of Felak Concept Limited, a company incorporated on May 5, 2000.

    “On March 31, 2014, a company, known as Felak Concept Group Limited, with Registration Number 1181455, was incorporated at the Corporate Affairs Commission by Felak Concept Limited, Altex Engineering Oil and Gass Limited, Wishwhich Koncept Limited, Ay-Dol International Limited, and Oceangate Engineering Oli & Gas as shareholders. “

  • NASRDA, EFCC to deploy intelligence against crime

    NASRDA, EFCC to deploy intelligence against crime

    National Space Research and Development Agency (NASRDA) and the Economic and Financial Crimes Commission (EFCC) have partnered to strengthen national security and enforce accountability in Nigeria’s expanding space sector.

    The two agencies have signed Memorandum of Understanding (MoU) at the Commission’s headquarters in Abuja.

    Director, Media and Corporate Communications of NASRDA, Dr Felix Ale, explained that Director-General of NASRDA, Dr. Matthew Adepoju stressed the importance of deploying geospatial intelligence in crime prevention. 

    He explained that the Space Agency is proud to partner with the EFCC to strengthen the implementation of national space regulations, improve spectrum management, and enhance oversight of activities within Nigeria’s rapidly expanding space ecosystem.

    Describing the MoU as a milestone for justice and accountability, the NASRDA boss emphasized that the agreement would ensure that both local and international organisations operating within Nigeria’s space sector fully comply with existing laws and regulatory frameworks.

    ‎Dr Adepoju further identified illegal mining as a major contributor to insecurity in the country, stressing that NASRDA remains committed to regulating operators across the upstream, midstream, and downstream segments of the space sector to ensure full legal compliance.

    Read Also: Glitches: EFCC returns N802.4m to First Bank

    ‎According to him, the EFCC is the ideal partner for this mission, given the Commission’s strong leadership, sound institutional management, and proven track record under its current Chairman Mr Olanipekun Olukoyede.

    Dr. Adepoju said NASRDA will deploy advanced space and geospatial technologies to support the commission in carrying out its mandate more efficiently and in line with international best practice.

    ‎He described the partnership as the beginning of a new chapter for both institutions one that promises stronger enforcement, improved national security, a more transparent and compliant space sector in Nigeria.

    In his remarks, Mr. Olukoyede described the MoU as a clear demonstration of how inter-agency cooperation strengthens institutional capacity and makes mandate delivery more effective.

    He explained that a functional partnership between both parties would serve as a model for other ministries, departments, and agencies to embrace cooperation as a pathway to stronger governance and national advancement.

    ‎Mr Olukoyede said NASRDA would supply advanced technologies to strengthen the EFCC’s investigative and asset-tracking capabilities, while the Commission would apply its expertise to maximise the Agency’s fraud-risk intelligence.