Tag: the Economic and Financial Crimes Commission (EFCC).

  • IMBLN signs MoU with EFCC to reduce fraudulent real estate transactions

    IMBLN signs MoU with EFCC to reduce fraudulent real estate transactions

    In the bid towards reducing financial crimes and fraudulent transactions in the real estate and mortgage sectors, the Institute of Mortgage Brokers and Lenders in Nigeria (IMBLN) has signed a Memorandum of Understanding with the Economic and Financial Crimes Commission (EFCC).

    The official signing of MoU held at the EFCC headquarters is in line with the Institute’s establishment Act that mandates the IMBLN to standardize professionalism, regulate ethical practices and enforce compliance within the industry.

    The Institute Registrar/CEO, Dr. Jasper Adeleye said the agreement represents a critical milestone in Nigeria’s fight against finance crimes in the real estate and mortgage industries.

    According to the MoU endorsed by EFCC Chairman, Olanipekun Olukoyede, the collaboration will enhance compliance with regulatory frameworks and ethical practices among industry professionals and strengthen the financial system by curbing money laundering and illicit financial flows through property transactions.

    IMBLN and EFCC’s partnership will foster a more transparent, ethical, and professional industry, ultimately contributing to economic stability and growth in accordance with global best practices.

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    The partnership covers database development, data sharing, certification/accreditation, joint research, and training and advocacy/awareness programs.

    Recall that the Institute of Mortgage Brokers and Lenders in 2024 signed a similar agreement with the Independent Corrupt Practices Commission (ICPC).

    Meanwhile, the IMBLN Registrar/CEO, Dr Jasper Adeleye has been honoured with an award of recognition as an Ambassador of the EFCC by its Chairmen. Adeleye was bestowed the ambassadorial honour at the Commission’s Headquarters in Abuja for his commitment and dedication towards eradicating sharp practices in real estate and mortgage sectors across the country.

  • Ex-banker loses N10m suit against wife, EFCC

    Ex-banker loses N10m suit against wife, EFCC

    Justice Kehinde Ogundare of a Lagos Federal High Court, has dismissed a N10 million fundamental rights enforcement suit filed by a a former bank manager, Fidelis Eugeke, against the Economic and Financial Crimes Commission (EFCC).

    The court also ordered Egueke to pay a total sum of N750, 000. 00 to the EFCC, his estranged wife, Blessing and the brother-in-law, as damages.

    Those listed as defendants in the suit are his estranged wife, Blessing Eugeke and her brother.

     Justice Ogundare  held that the former banker manager’s suit was frivolous, unmeritorious and abuse of court’s processes.

    Justice Ogundare made the orders and many others while delivering judgment in a suit marked FHC/L/CS/383/2022, filed by the former Bank manager against the EFCC and other respondents.

    Egueke, who last worked as Manager at the Asaba, Delta State branch of Zenith Bank, had dragged the EFCC and other defendants before the court.

    The reliefs sought from the court  include: “a declaration that the invitation of the applicant by the 1st respondent at the instance of the 2nd and 3rd respondents to report for an interview on 7th March, 2022 in respect of a matter already pending before Hon. Justice Ringim of the Federal High Court, Lagos with Charge number FHC/C/298C/2020: IGP V. Fidelis Egueke, as unlawful, illegal and unconstitutional.

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    “A declaration that the unlawful invitation of the applicant at the instance of the 2nd and 3rd respondents in respect of a matter they earlier reported to the Assistance Inspector General of Police, Alagbon, Lagos and now pending before Hon. Justice Ringim of the Federal High Court Lagos, constitutes an attempt to violently and flagrantly infringe his rights to personal liberty, dignity of human person right to freedom and right to fair hearing and violation of the provisions of Constitution of the Federal Republic of Nigeria 1999 (as amended).

    “An order of perpetual injunction restraining the respondents, their agents, privies, men, officers, operatives, anybody whatsoever or howsoever in their authority from attempting to arrest or to detain or further invite for interrogation or any act likely to infringe the guaranteed rights of the applicant in respect of a matter pending before Hon. Justice Ringim of the Federal High Court, Lagos.

    “An order compelling the respondents jointly and/or severally to deliver an apology in writing to the Applicant for unwarranted infringement of his fundamental rights.

    “An order awarding jointly and/or severally N10 million Naira only, against the respondents on the footing of exemplary damages for the unwarranted infringement of his fundamental rights.”

    The banker averred in affidavit in support of the suit that ‘he is presently unemployed as a result of the false petition the 2nd respondent wrote his former employer, Zenith bank, leading to his compulsory resignation from his employment.

    He also averred that consequent upon the false allegations, he was arrested in his residence at Asaba, Delta State on October 12, 2020, by men of the Nigeria Police Force without being informed of the reason(s) for the arrest and at the point of arrest, he had thought it was a kidnap until he saw the driver to his brother-in-law, 2nd respondent.

    Responding to the suit, the EFCC filed a 17-paragraph counter-affidavit, while his estranged wife, Blessing Eugeke and her brother, equally filed their counter-affidavits attached with several documentary exhibits.

    EFCC and other respondents refuted all the allegations contained in the former banker’s averments and urged  the court to dismiss the suit with substantial cost, for being incompetent, frivolous and abuse of court process.

    Delivering judgment in the suit, Justice Ogundare, after perusing all the processes filed, plethoras of legal authorites cited by the parties and exhibits tendered, resolved all the issues raised in favour of the EFCC and other respondents.

    Justice Ogundare also held that; “….. I have looked at the documentary exhibits attached to the affidavit in support of the application and the further affidavit of the applicant in response fo the counter affidavits of the 2nd and 3rd respondents. What can see there has not answered the allegations that the 1st respondent seeks to investigate.

    “There is no evidence of any threat of infringement on the fundamental right of the applicant from the totality of all facts and evidence before the Court.

    “Coming from the above premise, I hold that the applicant has not placed sufficient materials before the court to be entitled to the reliefs sought in the instant application.

    “The issue for determination is resolved against the applicant. This suit as presently constituted is devoid of merit, it is speculative and an abuse of Court’s process and same hereby dismissed with N250, 000 00 cost award in favour of each respondents.”