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Tag: EFCC

Nigerian crypto firm convicted for illegal USDT-Naira transactions, forfeits N140m
Business

EFCC arrests ex-Skye Bank CEO Tunde Ayeni over fraud

The Economic and Financial Crimes Commission has arrested businessman and former chairman of the now-defunct Skye Bank Plc, Tunde Ayeni, over allegations of multi-billion naira fraud. Ayeni was reportedly arrested in Abuja on Thursday and is currently being held in EFCC custody while investigations continue, according to TheCables. The anti-graft agency is probing allegations of […]

Banking

EFCC warns banks against loans without credible collateral

The Chairman of the Economic and Financial Crimes Commission, Mr. Ola Olukoyede, has cautioned Nigerian banks against granting loans without credible collateral, warning that such practices often result in insider abuse and non-performing loans. Olukoyede gave the warning recently when he received the Chief Audit Executive of First Bank Plc, Mufutau Abiola, who led a […]

Business

EFCC returns N3.9bn recovered fraud proceeds to NNPCL

The Economic and Financial Crimes Commission on Wednesday handed over N3.9 billion in recovered proceeds of fraud to the Nigerian National Petroleum Company Limited. In a statement, the anti-graft agency said the funds were officially presented on behalf of EFCC Chairman Ola Olukoyede by the Commission’s Secretary, Mohammed Hammajoda, during a ceremony at its headquarters […]

Emefiele gets N300M bail in N18.96bn note printing case
Finance

Emefiele followed Buhari’s directive over locally redesigned naira — Witness

A witness, Chinedu Emere, told an Abuja High Court that the former governor of the Central Bank of Nigeria, Godwin Emefiele, complied with late President Muhammadu Buhari’s directive that the redesigned Naira be produced locally. The Economic and Financial Crimes Commission charged Emefiele with illegal act causing injury to the public. According to Vanguard, the […]

Scams

EFCC arraigns ex-Benue electoral chairman over alleged ₦1.1bn fraud

The Economic and Financial Crimes Commission has arraigned former chairman of the Benue State Independent Electoral Commission, Tersoo Loko, alongside 10 other defendants over the alleged diversion of N1.1 billion meant for local government elections in the state. The defendants were brought before the federal high court in Makurdi on 30 counts bordering on criminal […]

Scams

EFCC secures conviction of firm for stealing ₦30.56m from Chevron contract staff

The Economic and Financial Crimes Commission has secured the conviction of AAC Consulting Limited for stealing ₦30.56 million belonging to contract staff of Chevron Nigeria Limited. The conviction was delivered on Friday, January 23, 2026, by Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, according to a statement issued by the […]

News

NEITI, EFCC, ICPC strengthen alliance against corruption in oil sector

The Nigeria Extractive Industries Transparency Initiative has intensified efforts to strengthen accountability in Nigeria’s oil, gas, and mining sectors by deepening its strategic partnership with the Economic and Financial Crimes Commission and the Independent Corrupt Practices and Other Related Offences Commission. The renewed commitment was disclosed in a statement issued on Friday by NEITI’s Director […]

EFCC faults fintech over fraud among unbanked and middle class
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EFCC links banks, fintechs to N162bn crypto fraud

The Economic and Financial Crimes Commission has linked a new-generation commercial bank, six fintech firms, and several microfinance banks to a major financial fraud involving cryptocurrency transactions worth N162 billion. The disclosure was made on Thursday during a press briefing at the EFCC headquarters in Abuja. EFCC Director of Public Affairs, Mr. Wilson Uwujaren, said […]

News

EFCC returns N802m recovered funds to First Bank

The Benin Zonal Directorate of the Economic and Financial Crimes Commission has handed over the sum of N802,420,000 recovered from a fraud suspect to First Bank Nigeria Plc, following a system glitch that erroneously credited the funds to the suspect’s account. The Commission disclosed this in a statement issued on Tuesday via its official X […]

News

Malami, wife granted bail in EFCC money laundering suit

The Federal High Court in Abuja has granted N1.5 billion bail to former Attorney-General of the Federation Abubakar Malami, SAN, along with his wife and son, in connection with an ongoing N8.7 billion money laundering case. Justice Emeka Nwite delivered the ruling after hearing arguments from both the prosecution and defence in the suit brought […]

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