Tag: Economic and Financial Crimes Commission

EFCC recovers billions in refinery turnaround maintenance fraud

Aminu Imam
EFCC recovers

…Moves to prosecute ex-NNPCL officials The Economic and Financial Crimes Commission (EFCC) has recovered over ₦5 billion and $10 million from contractors and former officials of the Nigerian National Petroleum Company Limited (NNPCL) indicted in the controversial turnaround maintenance of Nigeria’s refineries in Port Harcourt, Kaduna and Warri. Findings revealed that the anti-graft agency is also pursuing the recovery of an additional ₦10 billion and $13 million allegedly siphoned through inflated contracts awarded for the rehabilitation of the refineries in Port Harcourt, Kaduna, and Warri. Sources disclosed that EFCC Chairman,…

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$3bn Refinery Scandal: EFCC arrests sacked MDs, traces ₦80bn to one account 

Aminu Imam
EFCC arrests sacked MDs

The Economic and Financial Crimes Commission, (EFCC), has arrested former managing directors and top officials of Nigeria’s three state-owned refineries over an alleged multibillion-dollar fraud involving the rehabilitation of the plants. Those detained include former heads of the Port Harcourt Refining Company, Warri Refining and Petrochemical Company, and Kaduna Refining and Petrochemical Company. The EFCC is probing the alleged mismanagement of $2.95 billion earmarked for the revamp of the facilities. A breakdown of the funds under investigation shows $1.56 billion allocated to the Port Harcourt refinery, $740 million to Kaduna…

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EFCC returns $132, 362, ₦78m to foreign fraud victims 

Aminu Imam
Taron manema labarai

The Economic and Financial Crimes Commission, (EFCC), yesterday returned a total sum of $132,362.43 and ₦78,566,324.81 to victims of fraud from the United States, Spain, and Switzerland. Other assets, including vehicles and real estate documents, were also handed over to representatives of these countries in Nigeria for restitution to those affected by fraudulent activities. Speaking at the EFCC’s corporate headquarters in Abuja, EFCC Chairman, Ola Olukoyede urged countries withholding assets and funds recovered from financial and economic criminals to release them for victim restitution. He said, “We are using this…

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EFCC sacks 27 officers for fraudulent activities, misconduct

Aminu Imam
EFCC sacks officers

In its quest to enforce integrity and rid its fold of fraudulent elements, the Economic and Financial Crimes Commission, (EFCC) has, dismissed 27 officers from its workforce in 2024. According to a statement  issued by the Commission  yesterday, “The officers were dismissed for various offences bordering on fraudulent activities and misconduct.  Their dismissal, following the recommendation of the staff Disciplinary Committee of the EFCC, was ratified by the Commission’s  Executive Chairman, Ola Olukoyede. The statement further said, “Olukoyede reiterated the commitment of the Commission to zero-tolerance for corruption, warning that…

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‘Emefiele, cronies acquired 753-duplex estate in Abuja with forex kickbacks’ – EFCC

Aminu Imam
EFCC on Emefiele

The Economic and Financial Crimes Commission (EFCC) has linked former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, to a 753-duplex estate in Abuja allegedly acquired through forex kickbacks and other fraudulent activities. Court documents revealed that Emefiele and his associates used N2.2 billion, funneled through three companies, to purchase the property spanning 150,500 square meters in Lokogoma District. The EFCC claims the companies were used to launder proceeds of corruption, with payments split into N900m, N700m, and N600m. Justice Jude Onwuegbuzie, of the FCT High Court, recently ordered the…

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EFCCs makes largest asset recovery since establishment

Aminu Imam
EFCC makes recovery

…As court orders forfeiture of Abuja estate with 753 duplexes  The Economic and Financial Crimes Commission, (EFCC), has achieved its largest single asset recovery since its establishment in 2003, following the final forfeiture of an estate comprising 753 duplexes and apartments in Abuja.  This was contained in an issued statement made available on the official X account of the Commission yesterday. The estate, covering 150,500 square metres in Lokogoma District, was forfeited to the federal government by order of the presiding judge, Justice Jude Onwuegbuzie yesterday, December 2, 2024. Justice…

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Persistent Grid Collapse: EFCC probes contracts awarded in power sector

Aminu Imam
EFCC probes contracts

The Economic and Financial Crimes Commission (EFCC) has disclosed that it has initiated probe into contracts awarded in the power sector while attributing Nigerias unreliable electricity supply and persistent grid collapses to corruption within the sector. Chairman of the agency, Ola Olukoyede, disclosed this during the visit of the House Committee on Anti-Corruption and Financial Crimes to the Commissions headquarters in Abuja. According to Olukoyede, EFCC investigations revealed that contractors awarded projects to supply electrical equipment frequently resorted to substandard materials. He identified this as the primary reason for the…

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Falana faults Agbakobas claim on EFCCs legal status

Aminu Imam
Falana faults Agbakoba

Human rights activist and lawyer, Femi Falana (SAN), has written to the President of the Senate, Senator Godswill Akpabio, and the Speaker of the House of Representatives, Tajudeen Abbas, to oppose the view expressed by the ex-president of the Nigerian Bar Association, (NBA), Dr Olisa Agbakoba (SAN), regarding the legal status of the Economic and Financial Crimes Commission. In a letter dated 17 October 2024, Falana disagreed with Agbakobas assertion that the EFCC is an unlawful organisation. The letter read: Our attention has been drawn to separate letters addressed to…

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“Yahaya Bello arrested in midnight sting operation; didnt surrender” EFCC

Aminu Imam
EFCC Yahaya Bello

Former Kogi State Governor Yahaya Bello is currently in custody at the Economic and Financial Crimes Commission (EFCC) headquarters in Abuja. The embattled politician is facing accusations of money laundering and financial misconduct amounting to N80.2 billion. According to reliable sources at the Commissions headquarters, Bello was arrested in a midnight sting operation. A source familiar with the development stated that Bello, who had initially claimed to have voluntarily honoured the commissions invitation, was trailed and arrested by EFCC operatives in Lokoja at midnight. Former Governor of Kogi State, Yahaya…

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Alleged N80bn fraud: Yahaya Bello remains ‘wanted’ – EFCC

Aminu Imam
EFCC on Yahaya Bello

…Appeals to SSS, Police to capture him The Economic and Financial Crimes Commission (EFCC) says former Governor of Kogi State, Yahaya Bello, remains ‘wanted’, and that his arrest is a collective responsibility of all security agencies in Nigeria. We have declared him as ‘wanted’; and he is still wanted, Spokesperson for the anti-graft agency, Dele Oyewale, told newsmen yesterday. When asked why the fugitive former governor had not been arrested since he was declared wanted months ago, Oyewale said, When a suspected is declared ‘wanted’ in law enforcement, the responsibility…

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