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Tag: EFCC

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EFCC declares Sujimoto CEO wanted for alleged money laundering

The Economic and Financial Crimes Commission has declared Olasijibomi Ogundele, Chief Executive Officer of Sujimoto Luxury Construction Limited, wanted over alleged money laundering and diversion of funds. The anti-graft agency announced the development in a notice signed by its spokesperson, Dele Oyewale, on Friday. According to the EFCC, Ogundele, 44, is an indigene of Ori-Ade […]

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Nigeria to deport foreign cybercriminals after jail term – EFCC boss

The Executive Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has stated that foreign cybercriminals convicted in Nigeria will be deported after serving their prison terms. Speaking at the opening of a two-day National Cybersecurity Conference in Abuja on Wednesday, Olukoyede warned of the rising threat cybercrime poses to Nigeria’s digital economy. He […]

The Economic and Financial Crimes Commission has removed Elie Bitar, a foreign national, from its wanted list following new developments in the ongoing investigation into the Crypto Bridge Exchange fraud case.
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CBEX: EFCC removes foreign national Elie Bitar from wanted list

The Economic and Financial Crimes Commission has removed Elie Bitar, a foreign national, from its wanted list following new developments in the ongoing investigation into the Crypto Bridge Exchange fraud case. The Commission made this known in a statement released on Wednesday, noting that Bitar, linked to CBEX Solutions Ltd., was no longer considered a […]

EFCC to grill Tompolo over naira abuse at birthday party
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EFCC to grill Tompolo over naira abuse at birthday party

The Economic and Financial Crimes Commission has announced it will question former Niger Delta militant leader, Chief Government Ekpemupolo—popularly known as Tompolo—over alleged abuse of the naira during his recent 54th birthday celebration. The agency made the disclosure on Monday via its official X (formerly Twitter) handle, posting a message that read, “Nobody is above […]

EFCC arrests 792 in major fraud bust
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EFCC arrests 792 in major fraud bust

Nigeria’s Economic and Financial Crimes Commission has arrested 792 suspects during a raid on a building believed to be a hub for international fraud operations. The suspects, including 148 Chinese and 40 Filipino nationals, were detained on December 10 at the seven-story Big Leaf Building in Lagos, the country’s commercial capital, EFCC spokesperson Wilson Uwujaren […]

EFCC faults fintech over fraud among unbanked and middle class
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EFCC faults fintech over fraud among unbanked and middle class

The Economic and Financial Crimes Commission has expressed growing concern about the surge in fraudulent activities within Nigeria’s financial sector, particularly targeting the unbanked, under-served, and middle-class populations. EFCC Chairman, Ola Olukoyede, made these remarks during a recent stakeholder engagement in Abuja. He pointed to a troubling trend of negligence by some fintech companies in […]

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EFCC disputes health claims of detained Binance executive

The Economic and Financial Crimes Commission has disputed health concerns raised by the family and legal team of Tigran Gambaryan, a detained Binance executive facing money laundering charges in Nigeria. On September 2, 2024, in the Federal High Court in Abuja, EFCC lead counsel Ekene Iheanacho informed Justice Emeka Nwite that Gambaryan’s reported health issues […]

EFCC arrests 792 in major fraud bust
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Court orders final forfeiture of NOK university to FG

A Federal High Court in Abuja has ordered the final forfeiture of NOK University, Kaduna State, along with all its assets, to the Federal Government. The ruling was delivered on Friday by Justice Joyce Abdulmalik in response to a motion filed by the Economic and Financial Crimes Commission against Anthony Hassan and KYC Inter-Project Limited. […]

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Stop illegal naira trade with PoS operators, EFCC warns banks

The Economic and Financial Crimes Commission has accused banks of colluding with Point-of-Sale operators to limit cash availability at Automated Teller Machines. According to EFCC, it is a financial crime for POS operators to have huge cash from banks at ATM’s expense. This was disclosed by the EFCC, via its official X handle on Saturday. […]

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EFCC bans dollar transactions in embassies

Alex Omenye The Economic and Financial Crimes Commission has taken a decisive step to halt the dollarization of Nigeria’s economy and safeguard the value of the Naira by prohibiting foreign missions from conducting transactions in foreign currencies. In a letter addressed to the Minister of Foreign Affairs, Ambassador Yusuf Tuggar, titled “EFCC Advisory to Foreign […]

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EFCC arrest BDC operators as naira slides to 1,416/$

The Economic and Financial Crimes Commission operatives on Tuesday reportedly arrested some Bureau De Change operators at the popular Wuse Zone 4 market on Tuesday amid the rapid depreciation of the naira. In addition, traders said some BDC operators resisted arrest in the course of the undercover operation, according to The Punch. The operatives had […]

Binance opens crypto trading to Syrians after US lifts sanctions
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Abuja court adjourns Binance exec Gambaryan’s trial till May 17

A Federal High Court sitting in Nigeria’s capital, Abuja, on Thursday adjourned the trial of detained Binance Holdings Limited executive, Tigran Gambaryan, till May 17 2024 for the continuation of his trial. AMBusiness reported that Gambaryan and his fleeing colleague, Nadeem Anjarwalla, and Binance Holdings Limited are being prosecuted by the Economic and Financial Crimes […]

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  • 2nd May 2024
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