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  • Corruption: EFCC fighting powerful forces, says Magu

    Economic and Financial Crimes Commission (EFCC) Acting Chairman Ibrahim Magu yesterday said the agency is fighting powerful forces in its anti-corruption war.

    He, however, said the commission has the determination to push the war against corruption to its logical conclusion, expressing regrets that it has been difficult repatriating stolen public funds and assets in safe havens abroad.

    Magu, who made the submissions in an address at the 3rd African Anti-Corruption Day in Abuja by the EFCC, said Africa needs all her assets back.

    The Roundtable Discussion was designed to mark the 3rd African Anti-Corruption Day.

    He said: “Today more than ever before, we need more collaboration. When government agencies, different bodies, continents and countries partner and synergise on collaborative ventures like this, the benefits are enormous.

    “There is no greater way to see government policies in action than this layer of collaboration. I believe that others would explore this kind of synergy to fast track efforts being made towards curbing corruption and achieving overall development across the African continent.

    “Thus, this new synergy on Asset Recovery between stakeholders is particularly necessary as I believe it will spur the development of a framework that will be mutually agreed upon and will have lasting impact.

    Read also: EFCC, ex-banker reach plea bargain agreement

    “I firmly believe that the resolutions of this dialogue will undoubtedly create effective multi-stakeholder cooperation.

    “This synergy has become absolutely necessary because the forces that we are up against are powerful and have enormous resources which they are ever willing to deploy in their never-ending efforts to frustrate the war against corruption.

    “We need the support of all stakeholders if we are going to prevail against the forces of retrogression. I take encouragement and inspiration from the presence of all representatives here and do indeed bid us all very productive deliberations and welcome to the dialogue.”

    Magu expressed concerns that it has been difficult to repatriate assets stolen from Africa but stashed in safe havens abroad.

    He said: “Corruption affects the security of a nation as we have experienced in Nigeria in recent times. The situation distorts the stability and national economic planning process; as a result of the review of priorities to accommodate dire security challenges given the constitutional imperative which places a premium on the security of lives and property as the critical function of government.

    “We have to come to terms with the fact that organized criminal groups have developed intricate channels of illicit financial flows that deprive African economies of crucial resources for development.

    “Such resources end up in safe havens across the globe. We often have challenges in recovery of the assets stashed away in some of these countries.”

    He pleaded for cooperation with anti-graft agencies in the country, especially EFCC.

    The EFCC boss went on: “However, we have long come to the realisation that one person, continent, agency or country alone cannot fight corruption and win.

    “I appreciate everyone here present, for this collective endeavour aimed at facilitating the growth and development of the African Continent. We should, as a people, be challenged to do this continually for the present and future generations of our continent.”

    A former Minister of Foreign Affairs, Prof. Ibrahim Agboola Gambari said: “Anti-corruption campaign is a unique war because it is a war without alternative to victory. It is a war we must win.

    “We must give support to President Muhammadu Buhari. We must join him in reversing the inheritance of poor governance in our country.

    “Buhari is the flag bearer but where are the other flag bearers in the 36 states, all local governments and in Ministries, Departments and Agencies (MDAs). We must give him the encouragement that he needs,

    “The elite have to decide whether they want to be part of the problem or solutions.”

     

    Gambari, who insisted that “not all Nigerians are corrupt”, said “we must have a system of reward and punishment to discourage corruption.

    “It is not about arresting, prosecuting or jailing corrupt elements, we must encourage the honest and incorruptible ones.”

    In his contribution, the new Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Mele Kyari, said the President has never asked the corporation for any favour since he was elected in 2015.

    He also restated the NNPC commitment to Open Government Partnership (OGP).

    He said: “The President has never asked to do anything for him in our transactions and he does not interfere with what we do. We will do our best to be transparent and open on whatever we do. We are accountable to this country.”

    Kyari, who led an 11-man team to the session, said: “NNPC is the focal organization for the Open Government Partnership. Whatever we are doing, we will make sure it is open.

    “I urge all of us to be part of the anti-corruption campaign. Corruption can only thrive where there is discretion. We have reduced discretion to the barest minimum in what we do.”

    Also, Lt. Gen. Lamidi Adeosun, who represented the Chief of Army Staff, Lt. Gen. Yusuf Buratai, said: “If we want to assist ourselves and assist the government to fight against corruption, all of us must get involved right from here.”

  • EFCC, ICPC: our battles against graft

    The Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and other related Offences Commission (ICPC) yesterday gave accounts of their battles against corruption in the country. At events held in Abuja and other parts of the country, the anti-graft agencies spoke on their achievements, challenges and plans to curb the corrupt. Joseph Jibueze, Rosemary Nwisi, Port Harcourt and Adekunle Jimoh report

    ‘Recovering stolen assets abroad a complex process’

     

    Economic and Financial Crimes Commission (EFCC) Acting Chairman Ibrahim Magu yesterday said the Federal Government was determined to recover stolen assets hidden abroad despite it being a “complex” process.

    He spoke in Lagos after a road-walk to mark the African Union (AU) Anti-Corruption Day, which is held every July 11.

    This year’s theme is: “Towards a Common African Position on Asset Recovery.”

    Magu, represented by EFCC Lagos Zonal Head Mr Mohammed Isa-Rabo, referring to a report by a high-level panel on Illicit Financial Flows (IFF), said Africa loses over $50 billion yearly through illicit financial outflows.

    “A large portion of these outflows is made up of illegally acquired assets that are located all over the world.

    “As we are all aware, asset tracing, freezing, management and eventual repatriation are a long and complex process.

    “As a result, heads of anti-corruption agencies in Africa have persistently sought the support and collaboration of the global community in repatriating stolen assets back to African countries.

    “The need to strengthen international cooperation amongst the anti-corruption agencies in Africa for purposes of developing an African common position framework on asset recovery and return can, therefore, not be over-emphasised,” the EFCC Acting Chairman said.

    He noted that the Muhammadu Buhari administration has made the fight against corruption and the recovery of stolen assets a key agenda.

    This, he said, has resulted in significant recoveries of looted assets that were acquired through mismanagement of public funds.

    “It is against this background that today’s convergence of  all relevant anti-corruption stakeholders (domestic and international) to reflect on the challenges of asset recovery in Africa and solicit contributions and support towards developing a framework for an African common position on asset recovery is very important.

    “Besides, there is the need to create awareness and engage the citizens in asset recovery efforts.

    “All hands must be on deck in response to the clarion call from across the world to defeat corruption. We must all demand the culture of integrity and accountability to win the fight against corruption,” Magu said.

    The EFCC Acting Chairman emphasised that corruption remains Nigeria’s and Africa’s greatest the problem, with resources that should have delivered the good life to the majority being cornered by a privileged few, leaving the continent underdeveloped.

    “The Commission recognises the fact that enduring success in the fight against economic crimes and corruption can only be achieved when all stakeholders embrace this important fight.

    “This is why we will continue to encourage us all to shun crimes and all acts of corruption.

    “Let me emphasise again that the future of this country belongs to us all. The decision we make today will determine the type of society our children will live in. Together we can make Nigeria great again,” Magu added.

    A leader of the Movement Against Corruption (MAC), a coalition of 250 civil society organisations, Dr Joe-Okei Odumakin, said it was gratifying that the AU set up the day with a view to combating the continent’s biggest scourge: corruption.

    “Africa, our great continent, is bleeding under the heavy weight of corruption. If Africa does not kill corruption, corruption will kill us. More than $50billion of our resources is being starched away through illicit flows yearly.

    “The poorest people we can find in this world are from Africa. Instead of us putting the feet of our youths on the pedestal of prosperity, they are being put on the pedestal of corruption.

    “Hunger, war and terrorism are as a result of corruption.  But we must all ensure that we keep our children alive. We can longer continue to agonise, but we must organise.

    “We can’t fold our arms akimbo, while our country is bled dry. That is the essence of this walk,” Odumaki said.

    The frontline activist urged Nigerians to join the fight by speaking up against acts of corruption and by blowing the whistle.

    “When we see something, we must say something. The EFCC alone cannot fight that war against corruption; the government alone cannot do that either.

    “So, we must all, wherever we find ourselves, make the fight against corruption our battle cry.

    “I am an incurable optimist and I am so optimistic that, if we all join hands, we will be able to repatriate all our stolen funds.

    “All of us here remain the lubricants for the survival of the entity called Nigeria and, indeed, Africa.

    “So, we must all be ready to confront this scourge. I believe that African will flourish again,” she added.

     

    Over N800b recovered in five years, says Magu

     

    Economic and Financial Crime Commission (EFCC) acting Chairman Ibrahim Magu has revealed that over N800 billion has been recovered from the corruption fight in the last five years.

    Magu spoke in Port Harcourt, the Rivers State capital at the year’s African Anti-corruption Match, with the theme, “Towards a Common African Position on Assets Recovery”.

    He spoke through the Head, Port Harcourt zonal operation, Mr.  Abdulrasheed Bawa. He said unless Nigerians key into the whistleblowing policy to expose corrupt leaders and public servants, they would continue to get away with their illicit wealth to the detriment of the nation’s economy.

    “We have made a lot of giant stride by recovering a lot of monies over the years, that in the last five years of the present leadership of the EFCC, we have recovered over N800 billion.

    “This year alone, we have secured over 500 convictions across the country and Port Harcourt zonal office alone have over 20 per cent of the  achievement.

    “We are not resting on our oars, however,  we are aware that the task ahead of us is enamours but I assure you that our will as Nigerians and that of the stakeholders in the fight against corruption are higher and together we fight the common cause of corruption in the country.” he promised.

    “The situation and what corruption has done to the country and citizens, in particular, can not be overemphasized, there is no gainsaying that corruption is hindering our economic development, the activities of fraudsters  and corrupt leaders have deprived Nigerians good roads, good education,  health facilities among others.

    “Whistleblowing policy is still in place,  Nigerians are advised to key into the policy; in this, you are not only going to make the country better by divulging  us with useful information but you are also going to benefit from it,  because the government  promised to give every whistleblower 5 per cent of the recovery made with the information provided. With this reward, may we are encouraged to expose corruption before corruption will kill Nigeria.”

    He told the audience at the popular Isaac Boro Park that the essence of the match was to create awareness of the dangers of corruption and to encourage all hands to be on deck in the fight for the recovery of the soul of the economy of Africa,”he said.

    The match started from the office of the commission at Forces Avenue near the Government House, through Garrison roundabout to Isaac Boro Park in Mile One axis of the state where it terminated amid heavy downpour.

    Authorities and staff of the EFCC in the state, men of the Police Federal Road safety corps,  Immigration,  Customs,  Civil Defence,  National Orientation, organised Labour, NYSC, and civil society organisations participated in the match and pledged their continued support in the fight against corruption.

     

    Africa loses $50b per annum to money laundering

     

    The Economic and Financial Crimes Commission (EFCC) yesterday said African countries lose $50billion to money laundering annually.

    The anti-graft agency added that a large chunk of the outflow was made up of illegally acquired assets spread all over the world.

    The Zonal Head, EFCC Ilorin office, Isyaku Sharu, addressed reporters in Ilorin during a road walk show to commemorate the African Anti-Corruption Day.

    EFCC’s road show was organised in collaboration with New Partnership for Africa Development Agency (NEPAD).

    He noted that African nations had suffered humongous capital flight. He bemoaned the degree of corrupt practices in the country but promised that the agency would not rest on its oars.

    “This is a gathering of Africa against corruption and looted funds. We have, for long, suffered huge and humongous capital flight from Africa to the western world. It is our responsibility to come as Africans to the common cause with a view to making sure that the assets meant for Africa repatriated to Africa,” he added.

    Sharu explained that assets recovery was a long process that requires the invocation of relevant instrument of international cooperation, including extradition, mutual legal assistance treaty and freezing among others.

    Sharu maintained that the crusade against graft in the country had translated into the significant recovery of looted assets that were acquired through mismanagement of public funds.

    He urged stakeholders to join hands with the commission to ensure recovery of common patrimony carted away.

    “Over the past four years, the Nigerian government has advocated for the return of stolen from a foreign jurisdiction through the use of anti-money laundering law and country financing terrorism. You will all agree with me that in January 2018, $221million of the repatriated Abacha stuff had been brought back to the country,” he said.

    Also speaking, Kwara state Director of National Orientation Agency, Olusegun Adeyemi said the event was very significant, pointing out that the negative  effects of corruption on socio-political has impacted on the nation’s economic transformation.

    Adeyemi said the presence of the anti-graft agency in the state has gone a long way in curbing money laundering, just as he added that it was also securing convictions.

     

    EFCC solicits support of CSOs, trade unions EFCC

     

    The Economic and Financial Crimes Commission (EFCC) yesterday solicited the support of trade unions and Civil Society Organisations (CSOs) to facilitate mass education against corruption.

    The South-East Zonal Head of the commission, Mr Usman Imam, solicited the support at the 3rd African Anti-corruption Day celebration in Enugu.

    Imam said the effect of corruption had become hydra-headed that CSOs, professional bodies, trade unions and others were needed to be fully involved in the fight against it.

    He said the EFCC was committed to winning the corruption war no matter how long it took, adding that to do that “Nigerians needed to join in the fight.

    “Until Nigerians are determined to expose and hold public officials accountable for their stewardship and not see the fight from ethnic, political or religious perspectives, the war might never be won,” he said.

    The EFCC zonal head said that the Federal Government had particularly made the fight against corruption and the recovery of stolen assets a key agenda for the current administration.

    “This has translated to significant recoveries of public funds,” he said.

    He said that the African anti-corruption day had its roots on a series of events leading to an African Union Convention on Prevention and Combating Corruption adopted in Maputo, Mozambique on July 11, 2003.

    The event, which had in attendance, officers of relevant government agencies, featured a road march around Enugu metropolis.

     

    Vulnerable poor, marginalised, worst victims of corruption, says ICPC

     

    The Independence Corrupt Practice and Other Related Offences Commission (ICPC) yesterday said the worst-hit victims of corruption were the vulnerable poor and the marginalised people of society.

    ICPC Chairman Prof. Bolaji Owasanoye spoke in Kaduna during the commemoration of the 2019 African Union Anti-corruption Day to create awareness on the menace of corrupt practices.

    Owasanoye, who was represented by the state’s Commissioner, ICPC Kaduna State Office, Shehu Yahaya, said that millions of Nigerians were being denied basic social services due to corruption.

    “As we join our African brothers to create awareness on the menace of corruption and engender collective action, we need to understand the negative impact of corruption, particularly on the hopeless common man.

    “With corruption, citizens suffer one form of denial or the other; in social services, physical infrastructure and employment with accompanying consequences on the general wellbeing of the people,” he said.

    He said that ICPC would continue to do all that it can to address corrupt practices associated with the social welfare sector is known to have impacted negatively on the lives of the citizens.

    He added that the commission’s new policy focus was to ensure effective utilisation of budgetary allocations for social welfare and human development.

    According to him, the commission will use the provision of the law, especially non-conviction-based assets forfeiture to make more resources available for development.

    “The commission is currently tracking the execution of constituency capital projects across the country to ensure that the projects are properly executed and delivered to the communities they were meant for.

    “Tax fraud and illicit financial flows investigation is also being conducted as well as prosecution of corruption and money laundering among others.”

    Also speaking, Mailafiya Yakubu, Head, Economic and Financial Crime Commission, Kaduna Zonal Office, said that only sound moral upbringing will rid the society of corrupt practices.

    Yakubu said that religious leaders have a duty of ensuring that people grow with good morals that the younger generation would emulate for a corrupt free society.

     

    EFCC Benin Zonal Command secures 51 convictions in 6 months

     

    The Benin Zonal Command of the Economic and Financial Crimes Commission (EFCC) yesterday said it secured 51 convictions within the last six months.

    Mr Muktar Bello, the Zonal Head of Operations, disclosed this in Benin, during the activities to commemorate the third African Anti-Corruption Day.

    Bello said those convicted were persons involved in various kinds of financial fraud.

    He also disclosed that within the period not less than N46.6 million as well as instruments of frauds (proceeds of crimes) were also recovered and forfeited to the Federal Government.

    The zonal head of operations explained that in the commission’s effort to exterminate corruption, it realised that it could not tackle the fight alone.

     

    ‘Making Nigeria corruption-free is a collective fight’

     

    The Economic and Financial Crimes Commission (EFCC) has urged residents of the state to see the ongoing anti-corruption crusade in the country as a collective fight.

    Mr Friday Ebelo, the Zonal Head, Ibadan Zonal Office made the call yesterday in Ibadan during a `Road Walk’ to commemorate the annual African Anti-Corruption Day.

    EFCC officials led by Ebelo and other collaborating organisations converged at EFCC office and walked through Iyaganku quarters, G-Allen to Dugbe, sensitising residents on the dangers of corruption.

    “Nigeria is our country and to make it corruption-free is a collective agenda. What we are doing today is to sensitise our people and bring them on board in the fight against corruption,’’ he said.

    Ebelo said President Muhammadu Buhari and the EFCC acting chairman, Ibrahim Magu had been at the forefront driving issues toward recovering the nation’s assets tied overseas.

  • Recovering stolen assets abroad a complex process, says Magu

    Economic and Financial Crimes Commission (EFCC) Acting Chairman Ibrahim Magu on Thursday said the Federal Government was determined to recover stolen assets hidden abroad despite it being a “complex” process.

    He spoke in Lagos after a road-walk to mark the African Union (AU) Anti-Corruption Day, which is held every July 11.

    This year’s theme is: “Towards a Common African Position on Asset Recovery.”

    Magu, represented by EFCC Lagos Zonal Head Mr Mohammed Isa-Rabo, referring to a report by a high-level panel on Illicit Financial Flows (IFF), said Africa loses over $50 billion yearly through illicit financial outflows.

    “A large portion of these outflows is made up of illegally acquired assets that are located all over the world.

    “As we are all aware, asset tracing, freezing, management and eventual repatriation are a long and complex process.

    “As a result, heads of anti-corruption agencies in Africa have persistently sought the support and collaboration of the global community in repatriating stolen assets back to African countries.

    “The need to strengthen international cooperation amongst the anti-corruption agencies in Africa for purposes of developing an African common position framework on asset recovery and return can, therefore, not be over-emphasised,” the EFCC Acting Chairman said.

    He noted that the Muhammadu Buhari administration has made the fight against corruption and the recovery of stolen assets a key agenda.

    This, he said, has resulted in significant recoveries of looted assets that were acquired through mismanagement of public funds.

    “It is against this background that today’s convergence of all relevant anti-corruption stakeholders (domestic and international) to reflect on the challenges of asset recovery in Africa and solicit contributions and support towards developing a framework for an African common position on asset recovery is very important.

    “Besides, there is need to create awareness and engage the citizens in asset recovery efforts.

    “All hands must be on deck in response to the clarion call from across the world to defeat corruption. We must all demand the culture of integrity and accountability to win the fight against corruption,” Magu said.

    The EFCC Acting Chairman emphasised that corruption remains Nigeria’s and Africa’s greatest problem, with resources that should have delivered the good life to the majority being cornered by a privileged few, leaving the continent underdeveloped.

    “The Commission recognises the fact that enduring success in the fight against economic crimes and corruption can only be achieved when all stakeholders embrace this important fight.

    “This is why we will continue to encourage us all to shun crimes and all acts of corruption.

    “Let me emphasise again that the future of this country belongs to us all. The decision we make today will determine the type of society our children will live in. Together we can make Nigeria great again,” Magu added.

    A leader of the Movement against Corruption (MAC), a coalition of 250 civil society organisations, Dr Joe-Okei Odumakin, said it was gratifying that the AU set up the day with a view to combating the continent’s biggest scourge: corruption.

    “Africa, our great continent, is bleeding under the heavy weight of corruption. If Africa does not kill corruption, corruption will kill us. More than $50billion of our resources is being starched away through illicit flows yearly.

    “The poorest people we can find in this world are from Africa. Instead of us putting the feet of our youths on the pedestal of prosperity, they are being put on the pedestal of corruption.

    “Hunger, war and terrorism are as a result of corruption. But we must all ensure that we keep our children alive. We can longer continue to agonise, but we must organise.

    Read Also: Magu to youths: shun evil acts, bad company

    “We can’t fold our arms akimbo, while our country is bled dry. That is the essence of this walk,” Odumaki said.

    She frontline activist urged Nigerians to join the fight by speaking up against acts of corruption and by blowing the whistle.

    “When we see something, we must say something. The EFCC alone cannot fight that war against corruption; the government alone cannot do that either.

    “So, we must all, wherever we find ourselves, make the fight against corruption our battle cry.

    “I am an incurable optimist and I am so optimistic that, if we all join hands, we will be able to repatriate all our stolen funds.

    “All of us here remain the lubricants for the survival of the entity called Nigeria and, indeed, Africa.
    “So, we must all be ready to confront this scourge. I believe that African will flourish again,” she added.

  • EFCC nabs fake native doctor

    The Economic and Financial Crimes Commission (EFCC), Ibadan Zonal office, on Tuesday, arrested a fake native doctor, Fatai Olalere Aliu, who was alleged to be notorious for duping people under the guise of possessing spiritual power to solve their problems.

    Aliu was arrested during a raid on his Kisumu Estate residence at Odo-Ona Elewe,  Ibadan, the Oyo State capital.

    Before his  arrest, the commission had worked on several intelligence reports linking him to a series of fraud allegations involving large sums of money.

    Read Also: NNPC to partner EFCC to fight corruption in its operations – Kyari

    He was also accused of engaging in money doubling through which he would collect money from his victims with the promise to use his spiritual powers to multiply the sums for them, but would instead divert same to his personal use.

    The raid led EFCC operatives to his shrines located in a thick forest around the Ibadan-Ijebu-Ode Expressway and Kobomoje area of the town where frightening voodoo items were sighted.

    Items recovered from the suspect include three exotic cars – two Toyota Corolla and Honda Pilot.

    He also has in his possession three luxurious buildings within Ibadan and land documents which were also recovered as exhibits. The suspect is said to be currently undergoing interrogation at the commission’s zonal office in Ibadan.

  • Just in: Our books are clean, Baru tells EFCC

    The outgoing Group Managing Director of Nigeria National Petroleum Corporation(NNPC) Dr. Maikanti Baru has told the chairman, Economic and Financial Crimes Commission, Ibrahim Magu the corporation’s records under his watch is clean.

    He said he “looks back with pride, recalling that kerosene was gold, diesel a nightmare, nobody talks about them now.”

    According to him, NNPC has fully exited the payment of cash-call to ExxonMobil.

    He added that the corporation has also paid about N198billion as pension arrears.

    Baru spoke in the amphitheatre of NNPC, Abuja that was agog for his valedictory session and the inauguration of his would be successor, Mele Kyari.

    Read Also: Kyari, Baru inspect oil drilling operation in Bauchi, Gombe

    Baru is decked in a Navy blue suit and a long cap made of NNPC red, white yellow and green logo.

    Kyari, too, is dressed in a blue agbada and a cap to match.

    As the preamble of the ceremony runs, the former GMDs as Engr. Funso Kupoluko, Dr. Thomas Iyinbo, Ebgr. Joseph Darwa, Engr. Abubakar Yalam and Chambalain Oyinbo are also seated among other creams of the nation.

    Present are Governor Kayode Fayemi, Economic and Financial Crimes Commission chair, Ibrahim Magu, Nigerian Extractive Industries Transparency Initiative, Executive Secretary, Dr. Waziri Adio, publisher Daily Trust, Kabiru Yusuf, publisher Nda Isaiah and others.

  • Magu to youths: shun evil acts, bad company

    The Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has advised Nigerian youths to avoid harbouring evil thoughts.

    Magu spoke on Thursday while delivering a lecture at this year’s Batch “B” orientation course at the National Youth Service Corps (NYSC) orientation camp ground in Iseyin, Oyo State.

    The EFCC chairman, who spoke through the Zonal Head of the commission’s Ibadan zonal office, Friday Ebelo, noted that the only way youths could effectively avoid crimes was by ensuring that they do not give space for evil thoughts to germinate in their hearts.

    He said: “It often takes a process to get involved in crime. You must, therefore, be careful about what manner of thought you allow to dominate your mind.

    Read Also: No going back on Oyo EFCC, says Makinde

    “It is equally important that you choose carefully the kind of people you associate with because that also influences what you give priority to in your heart.”

    Relating his message with the commission’s statistics of arrests, arraignment and conviction of youths involved in criminal activities in recent times, Magu stressed that many were persuaded into criminal act due to their choice of providing unbridled access to all shades of evil thoughts.

    He also advised them to choose hard work over laziness in order to make meaningful impact in life.

    Magu said: “There is no shortcut to wealth and fame. Acts of criminality might deliver wealth in the short-run, but ultimately, there will be misery and gnashing of teeth.”

  • Content defaulters: IOCs, others to face EFCC for prosecution

    In the next few days, the International Oil Companies (IOCs) and their local counterparts are facing prosecution for not remitting their Nigerian Content Fund to the Nigerian Content Development and Monitoring Board (NCDMB), the Board’s Executive Secretary, Mr Simbi Wabote, has said.

    The NCDF is one percent of every contract awarded to any contractor, sub-contractor, alliance partner or any other entity involved in any project, operation activity or transaction in the upstream sector of the oil and gas industry, which shall be deducted at source and paid into the NCDF account.

    Speaking during a lecture titled: ‘’Promoting investment and collaboration in Nigeria’s oil and gas industry which opened in Abuja recently, he said the Board has complied the list of defaulting firms, with a view to handing them over to the Economic and Financial Crimes Commission(EFCC) for prosecution in few days time.

    He said it is worrisome that some oil and gas firms have consistently defaulted in the remittance of the one per cent deduction, warning that such companies should be ready to face the full wrath of the law.

    He said it is  worrisome that some oil and gas firms have consistently defaulted in the remittance of the one per cent deduction, warning that such companies should be ready to face the full wrath of the law.

    According to him, the Board is carrying out a forensic audit to determine the actual number of defaulters, how much they owed and subsequently hand them over to EFCC for prosecution.

    Read Also: We saved N10b from being misappropriated by past Kwara govt, says EFCC

    He said the development would enable the board to recover its debts, as  well as serve as a deterrent to others.

    Wabote said:  ‘‘You cannot believe it that some companies including International Oil Companies (IOCs), indigenous firms and contractors and operators are not paying these funds. We are getting close to where we will hand them over to the relevant prosecuting agencies.’’

    To enhance accessibility to the fund, the Board in July 2016, had signed a Memorandum of Understanding (MOU) with Bank of Industry (Bol) to establish the NCIF.’’

    Companies,Wabote said, have so far accessed $160 million out of the $200 million Nigerian Content Development Fund (NCDF) that is domiciled with the Bank of Industry (BoI).

    He said local firms had spend  $160million to build capacity, a development, which has left  $40million in the custody of the Nigerian Bank of Industry (BoI).

    He also  said the fund was also spent on building modular refineries, adding that the development has helped the Board to exit appropriation and further become a self-funding agency.

  • ‘Sick’ Fayose re-arraigned, granted leave to travel abroad for treatment

    The Economic and Financial Crimes Commission (EFCC) on Tuesday re-arraigned former Ekiti State Governor Ayo Fayose for alleged money laundering.

    The court granted his application for permission to travel abroad for treatment as he said he was sick.
    It followed the re-assignment of the case to Justice Chukwujekwu Aneke after the prosecution expressed loss of confidence in Justice Mojisola Olatoregun, who was previously handling it.

    The case was re-assigned after 13 witnesses had testified.

    Fayose was first arraigned last October 22 on an 11-count charge of receiving and keeping N1.2billion and $5million stolen funds from the office of National Security Adviser (ONSA) contrary to the Money Laundering Act.

    Read Also: Alleged N6.9bn fraud: Fayose still being investigated, says EFCC

    He was charged with his company, Spotless Limited.

    He pleaded not guilty to the same charges and was allowed to remain on the bail earlier granted him by Justice Olatoregun.

    Fayose’s lawyer Ola Olanipekun (SAN) pleaded with the judge to enable the former governor travel abroad for medical treatment.

    Justice Aneke granted the application and ordered that Fayose must return his international passport to the court on or before September 16.

    He adjourned until September 16 to 19 for trial.

  • Breaking: EFCC re-arraigns Fayose before new judge

    The Economic and Financial Crmes Commission on Tuesday re-arraigned embattled former Governor of Ekiti, Ayodele Fayose in a Federal High Court in Lagos over N6.9billion Money laundering and fraud.

    Federal High Court in Lagos on Friday had adjourned the re-arraignment of Fayose, till July 2.

    Justice Chukwujekwu Aneke fixed the date despite objection by Fayose through his counsel Ola Olanipekun (SAN).

    The judge upheld the prayer of the Economic and Financial Crimes Commission (EFCC) that it needed the adjournment to, among others, conclude a fresh investigation against Fayose.

    Read Also: Alleged N6.9bn fraud: Fayose still being investigated, says EFCC

    The EFCC had on October 22, 2018, arraigned Fayose for an alleged fraud of N2.2billion before Justice Mojisola Olatoregun, six days after he completed his tenure as governor.

    He was arraigned alongside his firm, Spotless Limited, on 11 counts bordering on criminal breach of trust, theft and money laundering.

    The prosecution opened trial on November 19, 2018, and called 13 out of its 15 witnesses when the EFCC wrote a petition to the Chief Judge of the Federal High Court, Justice Adamu Abdu-Kafarati, requesting that the case be transferred from Justice Olatoregun.

    It was subsequently transferred to Justice Aneke.

    Details shortly…

  • EFCC re-arraigns American over $1.2m ‘Green Card fraud’

    The Economic and Financial Crimes Commission (EFCC) on Thursday re-arraigned an American, Marco Antonio Ramirez, before an Ikeja Special Offences Court for allegedly defrauding three Nigerians of $1,229,800 under the pretext of securing America’s Green Card for them.

    Those allegedly defrauded by the American and his companies are: Ambassador Godson Echejue, Abubakar Umar Sodiq and Olukayode Sodimu.

    The American was re-arraigned before Justice Mojisola Dada on an amended 12-count charge bordering on conspiracy and obtaining under false pretence.

    The accused was arraigned alongside his companies, U.S.A Now LLC, Eagle Ford Instalodge Group LP and U.S.A Now Capital Group.

    Ramirez and co-defendants were first arraigned on June 22, 2017 before Justice Josephine Oyefeso on a 16-count charge but pleaded not guilty to the alleged offences.

    Following his plea, he was admitted to bail for $25,000.

    Read Also: EFCC arrests seven suspected internet fraudsters in Kwara

    Midway into his trial, his case file was transferred to Justice Dada, making his trial to start de novo (afresh).

    During proceedings yesterday, Ramirez again pleaded not guilty to the amended 12-count charges brought against him by the EFCC.

    EFCC’s prosecuting counsel, N. S. Oweize, asked the court for a trial date.

    The defendant’s lawyer, Ademola Adefolaju, who did not oppose the prosecutor’s request, prayed the court to let his client continue with the bail terms earlier granted him by Justice Oyefeso when he was first arraigned.

    When the judge asked the accused if he had fully complied with the bail term, Adefolaju confirmed that his client had fully complied with the bail terms.

    The lawyer said his client had also been visiting EFCC’s office, as directed by the court.

    Following his submissions, Justice Dada granted the request of the defence.

    She held: “Since the defendant has not breached any of the bail terms granted by my brother judge, the defendant is hereby allowed to continue with the terms.”

    The judge adjourned the matter till October 7, 8, 9 and 10 for trial.