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Tag: EFCC

  • Leatherback eyes expansion as EFCC clears it

    Leatherback eyes expansion as EFCC clears it

    A fintech firm, Leatherback, said it is eyeing international growth through its offices in the United Kingdom (UK), Nigeria, Ethiopia, Canada, India, Pakistan, Nepal, and Sri Lanka.

    Its CEO, Toyeeb Ibrahim Ibitade, said this target is critical, especially, as the Economic and Financial Crimes Commission (EFCC) has dropped all allegations of fraud and misconduct against the tech firm.

    Recall that in November 2023, EFCC said it had been notified of the possibility of fraudulent activities on the Leatherback platform and its CEO, leading to an investigation into its operations to establish the facts.

    Cooperating fully with EFCC and working with the organisation’s officials to provide a forensic audit of its operations, Leatherback said, it was able to prove its innocence, leading EFCC to drop all allegations and take down all previous communications on its website and social media platforms (Facebook, Instagram, and Twitter) around the matter.

    Leatherback supported the EFCC investigation by making over 5,000 printed documents available to officials to enable as much clarity as possible even as it also filed Suspicious Activity Reports (SARs) in the UK and Nigeria.

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    Reacting to this development,  Ibitade, said: “I am relieved to see the end of this arduous episode, but I am even more delighted to see that myself and Leatherback, as an organisation, have been completely cleared of all wrongdoing.

    “With this episode firmly behind us, we are poised to accelerate our mission to provide a single access point that empowers individuals and businesses to be truly global, delivering best-in-class financial, payment, and commerce solutions that remove barriers to global growth and mobility for all citizens of the world.”

    Headquartered in London, Leatherback is regulated in the UK, Nigeria, Ethiopia, Canada, India, Pakistan, Nepal, and Sri Lanka, enabling the platform to effectively serve customers across a wide range of markets. Ten of thousands of individuals and businesses already use the platform to support business and lifestyle opportunities daily.

  • Contracts: EFCC demands anti-corruption strategies from Presidency, NASS, MDAS

    Contracts: EFCC demands anti-corruption strategies from Presidency, NASS, MDAS

    As part of the efforts to stop contract abuse, the Economic and Financial Crimes Commission (EFCC) has asked the Presidency, the National Assembly Commission, the Federal Judicial Service Commission and all Ministries, Departments and Agencies (MDAs) to  furnish it with their anti-corruption strategies.

    The anti-graft agency said all the MDAs should submit their strategies on or before March 1.

    It said the directive was in line with the agenda of President Bola Tinubu’s government to tackle corruption in MDAs.

    The EFCC made the demand in separate letters to the Chief of Staff to the President; the Permanent Secretary,  State House, Aso Rock Villa; the Chairman,  National Assembly Commission and the Secretary,  Federal Judicial Service Commission.

    The EFCC said its decision was also in line with the launch of Fraud Risk Assessment Prevention and Control Project for MDAs by the President in January.

    The letter reads in part: “The aim of the project is to assess extant anti- corruption measures in MDAs with particular focus on identifying gaps, vulnerabilities, develop strategies and techniques to mitigate corruption and other financial crimes prevalent in MDAs.

    Read Also: EFCC arraigns ex-Kwara governor for alleged N1.6b theft

    “You are kindly requested to forward to the commission a detailed anti- corruption policy or strategy deployed by your office to prevent abuse in contract and procurement processes.”

    “Kindly note that the commission expects your response to this request on or before the close of business on Friday, 1st day of March, 2024.”

    A top source said: “The correspondence to the key government institutions is a bold effort to jumpstart the corruption prevention agenda of the Ola Olukoyede- led EFCC.

    “The anti-corruption boss had hinted of this move at a Public Engagement on Youth, Religion and the Fight against Corruption and Launch of Fraud Risk Assessment for MDAs it held in Abuja on January 31,  2024.

    “It is no more business as usual. We want to prevent corruption as much as possible.”

  • EFCC arraigns ex-Kwara governor for alleged N1.6b theft

    EFCC arraigns ex-Kwara governor for alleged N1.6b theft

    The Economic and Financial Crimes Commission (EFCC) yesterday arraigned the former governor of Kwara state, Alhaji Abdulfatah Ahmed before a Federal High Court, sitting in Ilorin for allegedly laundering a sum of N1.6 billion belonging to the state.

    The EFCC is investigating the former governor and his Commissioner for Finance, Mr. Demola Banu (2nd defendant) over offences bordering on money laundering during his tenure between 2015- 2019.

    The commission arraigned the ex-governor on 12 count charge.

    The Ilorin Zonal command of the anti-graft agency had on Monday, February 19, invited the former governor in continuation of its ongoing investigation where he was detained and brought to court on Friday morning.

    Some of the count charges read: “That you, Abdulfatah Ahmed  (while being the Governor of Kwara State) between 2015 and 2019 in Ilorin within the jurisdiction of this Honourable court used an aggregate sum of N1.6 billion, property of Kwara state government, meant for the security and running cost of the government of Kwara state to charter private jets through Travel Messengers Limited on different occasions for your local travels and which sum you reasonably ought to have known formed part of the proceeds of your unlawful act, to wit: Criminal Breach of Trust or Theft and you thereby committed an offence contrary to section 15(2)(a) of the Money Laundering (prohibition) Act, 2011 (As Amended) and punishable under section 15 (3) of the same Act.

    “That you, ABDULFATAH AHMED (while being the Governor of Kwara State) and ADEMOLA BANU (while being the Commissioner of Finance of Kwara State) sometime in 2019, in Ilorin within the jurisdiction of this Honourable Court indirectly converted the sum of N400,000,000.00 (Four Hundred Million Naira) out of the N1,000,000,000.00 (One Billion Naira) short-term loan obtained by the Kwara State Government from Ecobank Nigeria Limited for the purpose of completing some then ongoing projects and which sum you reasonably ought to have known formed part of the proceed of your unlawful Act, to wit: criminal breach of trust/theft and you thereby committed an offence contrary to section 15(2) of the Money Laundering (prohibition) Act, 2011 (As Amended) and punishable under section 15 (3) of the same Act.”

    The 1st defendant however pleaded not guilty to all the 12 charges leveled against him when red to him at the court.

    Thereafter, counsel to the 1st defendant, Kehinde Eleja, moved an oral application asking the court to grant the former governor bail.

    His oral applications were however objected to by the EFCC counsel Rotimi Jacobs because such applications should have been made formal and left at the discretion of the court.

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    He also argued that the 1st defendant being a former “governor might interfere with investigation because according to him,  “many of the witnesses that would be called to testify against him worked under him as subordinates”.

    Jacobs also argued that the first defendant like the second defendant (Banu) now at large could “evade his trial” and also jeopardize the investigation,

     Replying to the argument of the EFCC counsel, Eleja argued that “denying the first defendant bail will be tantamount to subjecting him to pre-trial punishments adding that he is presumed innocent until proven otherwise by the court.

    He also asked the court to consider the fact that the former governor honoured EFCC’s invitation on 19 February in continuation of the ongoing investigation by the anti-graft agency where he had been held since Monday.

    He said contrary to the submission of the EFCC, counsel investigation into the matter had been concluded following which the first defendant was arraigned in court on Friday.

    Counsel to EFCC Rotimi Jacobs had told the court that the second defendant “jumped administrative bail” asking the court to issue a summon, warrant of arrest, or both on the defendants.

    He said the 2nd defendant on getting wind of the arrest of the first defendant jumped the administrative bail earlier granted him and travelled to the United Kingdom.

  • EFCC chairman bags Fraud Investigators Institute’s Fellowship

    EFCC chairman bags Fraud Investigators Institute’s Fellowship

    The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede was yesterday conferred with the Fellowship of the Chartered Institute of Forensics and Certified Fraud Investigators of Nigeria (CIFCFIN).

    According to the President and Chairman, Governing Council CFICFIN, Dr. Ilyasu Gashinbaki, the fellowship is the highest professional award of the Institute.

      Gashinbaki said the institute used to award the fellowship to “persons the Institute considered worthy in character and professional calling.

    He also said the award is “reserved for people of distinction.”

    According to a statement by the Head of Media and Publicity of EFCC, Mr. Dele Oyewale, the institute said the honour bestowed on Olukoyede was well-deserved.

    Gashinbaki said:  “It is a great addition to the institute’s profile to have an accomplished, globally well-regarded personality like Olukoyede as a fellow.

    “On this note therefore, by the powers conferred on me as the President and Chairman of the Governing Council of the Chartered Institute of Forensics and Certified Fraud Investigators of Nigeria, I Dr. Ilyasu Gashinbaki, confer on you, the fellowship of the Institute as a fellow, Chartered Institute of Forensics and Certified Fraud Investigators of Nigeria”.

    He commended the efforts of the commission and its Chairman in tackling the current foreign exchange crisis in the country.

    He added:  “We want to commend you for the steps you have taken so far with your intervention in the foreign exchange space.

    “As the steps are reinforced, we want to call on the EFCC to ensure that everyone that is involved, the high and the mighty, the politicians and the banks are called to order so that our country is not destroyed

    Olukoyede, who is also a member, Fraud Advisory Panel in the United Kingdom,   thanked the Institute for the honour, which he dedicated to the EFCC management team and the anti-corruption fight.

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    He said: “The honour is not only on me but on what I stand for and what I represent and by extension on other members of the management team and entire staff of the EFCC. I want to thank you immensely and promise that I will abide by the Institute’s rules and regulations”, he said.

    The EFCC chairman praised the good intentions, passion and genuine commitment of President Bola Ahmed Tinubu to grow the economy.

    He said the government’s best efforts would not be allowed to be thwarted by saboteurs.

    He said the country’s foreign exchange rates rather than being driven by market forces are now being determined by forces of speculation.

    He called on Nigerians to support every effort being made to sanitize and strengthen the economy.

    “Nigerians should be more patriotic. Somebody who gets fish from the river, dries it within the country will tell you that it is the dollar that made him or her increase the price.

    “More than 90 per cent of the raw materials for cement is derived in Nigeria. I think we all need to be more patriotic and join hands together to grow the economy”, he said.

  • EFCC arrests 50 internet ‘fraudsters’ in Kwara

    EFCC arrests 50 internet ‘fraudsters’ in Kwara

    Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested 48 students of the Kwara State University, (KWASU) for alleged internet fraud otherwise known as yahoo-yahoo.

    Also arrested were two residents of Malete where KWASU is sited.

    The arrests, it was gathered, followed credible intelligence on the rising trend of yahoo-yahoo business in the state, especially on campuses.

    According to the Ilorin Zonal Command of the EFCC, operatives swung into action and arrested the suspects at various hideouts on Wednesday after days of surveillance.

    The commission identified the suspects as Idris Yekini, Ayantola Segun, Adeshina Taheeb, Mustapha Alamin, Usman Harun, Oladimeji Oseni, Qudus Temitope, Adewunmi Israel, Lukman Uthman, Alamin Ibitoye, Usman Sadiq, Musbau Waris, Ibrahim Oluwatosin, Oladele Israel, Rafiu Ashimu, Aransiola Oluwaseun, Akolade Adetola Toheeb, Joseph Samuel, Adewuyi Quadri, Adebayo Olamilekan, Ogunride Gabriel, Abolaji Ismail, Ogundele Samuel Ejiro, Musa Ali Olawale, Isah Oluwatumishe and Abdullahi Abdulmajib.

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    Others include Abdulralman Abubakar, Olaosebikan Martins, Mazeed Ayomide, Oyeniyi Michael, Moses Bright, Oladipo Victor,  Shehu Abdugafar, Abdulmalik Khalid Timileyin, Muhammad Nabil, Adebayo Qudus and Owoeye Adeyanju, Abdulwaheed Zakariyah, Olaleye Gbenga, Victor Kayode, Samad Olarewaju, Raheem Ayomide, Ismail Abdulbasit, Oluyedun Khalid, Moshood Lawal, Utman Abayomi, Aransiola Joshua, and the residents- Babalola Razaq and Godwin Ouna Ejika.

    Items recovered from the suspects include nine exotic cars, 24 laptops, and different brands of phones.

    The suspects, the EFCC said, would be arraigned in court upon the conclusion of investigations.

  • EFCC chairman bags Fraud Investigators Institute’s Fellowship

    EFCC chairman bags Fraud Investigators Institute’s Fellowship

    Chairman of the Economic and Financial Crimes Commission (EFCC) Ola Olukoyede has been conferred with the Fellowship of the Chartered Institute of Forensics and Certified Fraud Investigators of Nigeria (CIFCFIN).

    According to the President and Chairman, Governing Council CFICFIN, Dr. Ilyasu Gashinbaki, the fellowship is the highest professional award of the Institute.

      Gashinbaki said the institute used to award the fellowship to “persons the Institute considered worthy in character and professional calling.

    He also said the award is “reserved for people of distinction.”

    According to a statement by the Head of Media and Publicity of EFCC, Mr. Dele Oyewale, the institute said the honour bestowed on Olukoyede was well-deserved.

    Gashinbaki said:  “It is a great addition to the institute’s profile to have an accomplished, globally well-regarded personality like Olukoyede as a fellow.

    “On this note therefore, by the powers conferred on me as the President and Chairman of the Governing Council of the Chartered Institute of Forensics and Certified Fraud Investigators of Nigeria, I Dr. Ilyasu Gashinbaki, confer on you, the fellowship of the Institute as a fellow, Chartered Institute of Forensics and Certified Fraud Investigators of Nigeria”.

    He commended the efforts of the commission and its Chairman in tackling the current foreign exchange crisis in the country.

    He added:  “We want to commend you for the steps you have taken so far with your intervention in the foreign exchange space.

    “As the steps are reinforced, we want to call on the EFCC to ensure that everyone that is involved, the high and the mighty, the politicians and the banks are called to order so that our country is not destroyed

    Olukoyede, who is also a member, Fraud Advisory Panel in the United Kingdom,   thanked the Institute for the honour, which he dedicated to the EFCC management team and the anti-corruption fight.

    He said: “The honour is not only on me but on what I stand for and what I represent and by extension on other members of the management team and entire staff of the EFCC. I want to thank you immensely and promise that I will abide by the Institute’s rules and regulations”, he said.

    The EFCC chairman praised the good intentions, passion and genuine commitment of President Bola Ahmed Tinubu to grow the economy.

    Read Also: Senate demands details of of $1.5bn road fund with NSIA

    He said the government’s best efforts would not be allowed to be thwarted by saboteurs.

    He said the country’s foreign exchange rates rather than being driven by market forces are now being determined by forces of speculation.

    He called on Nigerians to support every effort being made to sanitize and strengthen the economy.

    “Nigerians should be more patriotic. Somebody who gets fish from the river, dries it within the country will tell you that it is the dollar that made him or her increase the price.

    “More than 90 per cent of the raw materials for cement is derived in Nigeria. I think we all need to be more patriotic and join hands together to grow the economy”, he said.

  • EFCC arrests 48 students, two others for cybercrime in Kwara

    EFCC arrests 48 students, two others for cybercrime in Kwara

    Operatives of the Ilorin zonal command of the Economic and Financial Crimes Commission (EFCC) have arrested 48 students of the Kwara State University (KWASU), Malete and two residents of the university community over offences bordering on internet fraud.

    A statement on Thursday by the Head, Media and Publicity of the anti graft agency, Dele Oyewale said, that the arrest was sequel to credible intelligence over the rising trend of internet fraud (yahoo-yahoo) business in the state, especially on campuses.

    “In its bid to free the state of corruption and other nefarious activities of ‘yahoo-yahoo boys’, the EFCC swung into action. Upon discreet investigations, operatives of the Commission closed in on the suspects and got them arrested in their various hideouts after days of surveillance on Wednesday, February 21, 2024.

    “The suspects are Idris Yekini, Ayantola Segun, Adeshina Taheeb, Mustapha Alamin, Usman Harun, Oladimeji Oseni, Qudus Temitope, Adewunmi Israel, Lukman Uthman, Alamin Ibitoye, Usman Sadiq, Musbau Waris, Ibrahim Oluwatosin, Oladele Israel and Rafiu Ashimu.

    “Also arrested are Aransiola Oluwaseun, Akolade Adetola Toheeb, Joseph Samuel, Adewuyi Quadri, Adebayo Olamilekan, Ogunride Gabriel, Abolaji Ismail, Ogundele Samuel Ejiro, Musa Ali Olawale, Isah Oluwatumishe, Abdullahi Abdulmajib, Abdulralman Abubakar, Olaosebikan Martins, Mazeed Ayomide, Oyeniyi Michael, Moses Bright, Oladipo Victor,  Shehu Abdugafar, Abdulmalik Khalid Timileyin, Muhammad Nabil, Adebayo Qudus and Owoeye Adeyanju.

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    “Others are Abdulwaheed Zakariyah, Olaleye Gbenga, Victor Kayode, Samad Olarewaju, Raheem Ayomide, Ismail Abdulbasit, Oluyedun Khalid, Moshood Lawal, Utman Abayomi and Aransiola Joshua, while the two residents of Malete are Babalola Razaq and Godwin Ouna Ejika.

    “Items recovered from the suspects include nine (9) exotic cars, twenty-four (24) laptops, and different brands of phones”.

    The statement said that the suspects would soon be arraigned in court upon conclusion of the ongoing investigations.

  • Banks, EFCC to collaborate against financial crimes

    Banks, EFCC to collaborate against financial crimes

    The Economic and Financial Crimes Commission (EFCC) and stakeholders in the banking industry have agreed to work together to deepen capacity and build cross-sectoral collaboration against financial crimes.

    The Chartered Institute of Bankers of Nigeria (CIBN) and Body of Banks’ Chief Executive Officers met with the EFCC to explore various areas of cooperation in the fight against economic and financial crimes.

    Speaking during the meeting in Abuja, President, Chartered Institute of Bankers of Nigeria (CIBN), Dr. Ken Opara, said the collaboration of CIBN and the Body of Banks’ CEOs with EFCC underscores the commitment towards promoting ethics, professionalism, and transparency within the banking sector.

    He outlined that as part of efforts to entrenching ethics and professionalism in the banking sector, all staff of banks now go through a mandatory Annual Ethics Certification Programme which is conducted by the institute.

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    He said the CIBN plans to establish a Banking School funded by the human capital development funds instituted by the Body of Banks CEOs to further reinforce efforts on observance of ethics and professionalism within the banking industry, thereby complementing the EFCC’s objectives.

    According to him, the institute is working with the Body of Banks’ CEOs to institutionalise a collaborative capacity building programme for the staff of EFCC to deepen their knowledge and competence in the area of banking and financial operations.

    He noted that such mutual platform will also allow EFCC to share with bankers, insights on how to curb financial crimes, adding that such symbiotic relationships will help the anti-graft agency in achieving its objectives whilst promoting the growth of the economy.

    Executive Chairman, Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede described the proposal to collaborate with the commission in combatting financial crimes as a good development.

    He said the fight against corruption is a patriotic duty that must not be left only to the commission, but a collective duty of all.

    He emphasised that EFCC in its renewed policy objectives to enhance engagement with stakeholders, is open to collaboration with all stakeholders.

    He also welcomed the proposed collaborative capacity-building initiative between the commission and banks which is aimed at improving skills and competencies of the staff of the Commission as well as bankers.

    He noted the importance of playing by the rules in the best interest of the country, whilst encouraging ongoing engagement with regulatory authorities.

    Chairman, Body of Banks’ CEOs, Mr. Lamin Manjang, commended Olukoyede’s leadership for the efforts to re-brand the image of the EFCC, as an institution that embraces professionalism whilst prioritizing humaneness in the conduct of its operations.

    According to him, this approach demonstrates a firm commitment to mobilise and foster widespread participation in the anti-corruption campaign.

    He noted the significant progress made in combating corruption, as evident in EFCC’s adherence to international conventions and protocols aimed at proactively deterring corrupt practices through effective policies and inclusive stakeholders’ participation.

    He pointed out the commission’s outstanding achievement in securing a total of 3,785 convictions in 2022, which stands as the highest number attained by any law enforcement agency in the world within a single year.

    He added that the commission has shown continuous dedication, as evidenced by the record of 1,688 convictions recorded between January and September 2023.

    “This remarkable accomplishment reflects the commission’s unwavering commitment to upholding justice and the rule of law in our society,” Manjang said.

  • Protesters storm EFCC office in Ilorin over ex-gov Ahmed’s detention

    Protesters storm EFCC office in Ilorin over ex-gov Ahmed’s detention

    Aggrieved protesters on Wednesday, February 21, besieged the Ilorin zonal command office of the Economic and Financial Crimes Commission (EFCC), over the continued detention of a former governor of Kwara State, Abdulfatah Ahmed.

    Read Also: Alleged diversion of N10b: EFCC legal team arrives in Ilorin for ex-governor’s trial

    The anti-graft agency is holding the former governor over an alleged diversion of over N10 billion.

    Ahmed’s detention at the EFCC Ilorin office entered a third day on Wednesday.

    The protest which commenced in the morning, ended at about 12:23 pm after an EFCC official, Micheal Nzekwe, addressed the protesters.

    Details shortly…

  • Alleged diversion of N10b: EFCC legal team arrives in Ilorin for ex-governor’s trial

    Alleged diversion of N10b: EFCC legal team arrives in Ilorin for ex-governor’s trial

    Former Kwara State Governor Abdulfatah Ahmed remained in the custody of the Economic and Financial Crimes Commission (EFCC) for the second day yesterday.

    Ahmed, who was governor from 2011 to 2019, is being detained over alleged diversion of over N10 billion. He was for bail from the Kwara State facility of the anti-graft agency as at press time last night.

    There were strong indications last night that the former governor will be taken from detention for trial at the Federal High Court, Ilorin.

    The EFCC legal team, The Nation learnt, has arrived in the Kwara State capital from Abuja for Ahmed’ prosecution.

    A source within the commission, who spoke in confidence, said: “The ex-governor is still in EFCC’s custody for the continuation of interrogation. He has a lot to answer and it is laughable to hear that Ahmed was on a routine visit to our zonal command in Ilorin. Visit for what?

    “The truth is that he has a case to answer on the alleged diversion of N10billion. By the time he is arraigned, the people of the state will know the details from the charges.

    Read Also: EFCC arrests six suspected currency racketeers in Lagos

    “We are yet to release him; although he is battling for bail; we will not delay him more than necessary in line with the new policy of the Executive Chairman of EFCC, Mr. Ola Olukoyede.

    “We have accorded him enough respect. We allowed him access to his lawyers and he is entitled to any choice of food from his family or trusted relations.

    “But another source said the ex-governor might be taken to court for trial from detention.”

    The source added: “Charges are already being preferred against the ex-governor ahead of his arraignment. His ongoing interrogation is to fill up some gaps in his response to issues isolated for him.

    “A strong legal team from Abuja has arrived in Ilorin to manage his trial in the Federal High Court, Ilorin in the next few days.”

    It was the third time Ahmed will be interrogated by the EFCC, following his earlier invitation on December 8, 2020 by the Ilorin Zonal office of the agency.

    There was no formal statement yet on the interrogation of the former governor last night.