Tag: Economic and Financial Crimes Commission

Alleged N80bn fraud: EFCC declares Yahaya Bello ‘wanted’

Aminu Imam
EFCC Yahaya Bello

The Economic and Financial Crimes Commission, (EFCC), has declared Yahaya Bello, former governor of Kogi State, as ‘wanted’. In a post on its official Facebook page, the anti-graft Commission said Bello is wanted in connection with alleged economic and financial crimes amounting to N80.2 billion. ”Anybody with information as to his whereabouts should report immediately to the Commission or the nearest Police Station”, EFCC wrote. Recall that Bello was whisked away from his Abuja home yesterday by his successor, Governor Usman Ododo, while EFCC operatives laid siege to his residence.…

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Corruption: “Arrests must follow Rule of Law” – EFCC boss tells operatives

Aminu Imam

Chairman of the Economic and Financial Crimes Commission, (EFCC), Ola Olukoyede, has urged officers of the anti-graft agency to follow the rule of law in carrying out arrests. Olukoyede stated this in his New Year address to staff, posted on the anti-graft agency’s official X account. Olukoyede noted that arrests and bail would henceforth be done in line with the rule of law. “The major objective of the war against corruption and financial crimes is to drive economic development and create wealth and job opportunities for the populace. We need…

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Alleged Fraud: EFCC arrests ex-minister over N3.6bn loan

Aminu Imam

…Grills Federal Character Commission Chair The Economic and Financial Crimes Commission, (EFCC) has arrested a former Minister of Commerce and Industry, Charles Ugwu, for alleged conspiracy and loan fraud to the tune of N3.6 billion. Recall that Ugwu was appointed minister by late President Umaru Yar’Adua and was sacked after a cabinet reshuffle that affected 19 other ministers. According to a statement by the Head of Media and Publicity of the commission, Dele Oyewale, on Monday, the ex-minister was arrested with Chief Geoffrey Ekenma on January 11, 2024, at No.2,…

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“Era of freezing accounts containing proceeds of fraud over” – EFCC Chairman

Aminu Imam

Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, says the era of placing ‘Post-No-Debit’ (freezing) on individual and companies’ accounts is over. The Chairman said this when the Small and Medium Enterprise Development Agency of Nigeria, (SMEDAN) paid him a courtesy visit at the EFCC headquarters, Abuja. According to Olukoyede, the Commission will separate proceeds of crime from legitimate funds to allow businesses to grow in the country.He said: “Businesses, as growing concerns, have to grow. We have to allow them to grow. These are people having…

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N70bn Zamfara Govt. fraud: EFCC to revisit case against Bello Matawalle

Aminu Imam

The Economic and Financial Crimes Commission (EFCC) says it will, under the present leadership, revisit N70 billion money laundering case against former Zamfara State Governor, and Minister of State Defence. The Commission specifically said all high-profile cases left behind by the former EFCC chairman, Bello Matawalle, have been reviewed. EFCC Acting Director of Public Affairs, Wilson Uwujaren, disclosed this yesterday, when a group, under the aegis of Zamfara Alternative Forum (ZAF) protested at the Commission’s headquarters in Abuja. The Zamfara Alternative Forum yesterday, stormed the EFCC Headquarters in protest, urging…

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Emefiele Investigation: 20 banks, other companies face EFCC probe over forex deals

Aminu Imam

…Inquiry to cover 9-yr period The probe instituted by the Economic and Financial Crimes Commission (EFCC) into the use of foreign exchange by some companies and financial institutions under the former governor of the Central Bank of Nigeria (CBN) Godwin Emefiele is to be spread to at least 20 banks, sources close to the commission have said. VoL was reliably informed, at the weekend, that the probe, which has seen operatives storm corporate offices of Dangote Group and some others would be extended to at least 20 commercial banks, while…

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EFCC freezes N30bn NSIPA funds traced to personal accounts

Aminu Imam

The Economic and Financial Crimes Commission (EFCC) has tracked N30 billion, of the N44 billion moved from the accounts of the National Social Investment Programme Agency, (NSIPA). The multiple accounts to which the funds were moved by some NSIPA officials have been frozen by the anti-graft agency as part of an ongoing probe. It was learnt that the N44 billion was suspiciously moved from NSIPA’s accounts into private and corporate accounts linked to those serving as fronts. Recall that some of the officials of the agency have been undergoing investigation.…

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Alleged N187bn fraud: 4 Buhari’s ministers under probe, as EFCC arrests FG’s contractor

Aminu Imam

The Economic and Financial Crimes Commission (EFC ) has arrested a contractor, James Okwete, in connection with the ongoing probe into the N37bn allegedly laundered by the Ministry of Humanitarian Affairs, Disaster Management, and Social Development under former Minister, Sadiyya Umar-Farouk. A top EFCC official, who confided to newsmen on Sunday, said the contractor had made useful statements concerning Umar-Farouk and former Directors-General of the ministry. The development coincides with the probe of three other ministers, who served under former President Muhammadu Buhari, for graft estimated at N150 billion. “It…

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EFCC uncovers N37bn fraud in humanitarian ministry, indicts Buhari’s minister, contractor

Aminu Imam

The Economic and Financial Crimes Commission (EFCC) has uncovered a total sum of N37,170,855,753.44 allegedly laundered in the Ministry of Humanitarian Affairs under former minister, Sadiyya Umar-Farouk. According to reports, details of the ongoing probe revealed that the money was transferred from the Federal Government’s coffers and sent to 38 different bank accounts domiciled in five legacy commercial banks belonging to or connected with a contractor, James Okwete. Following receipt of the funds, Okwete allegedly transferred N6,746,034,000.00 to Bureau De Change Operators, withdrew N540,000,000.00 in cash, purchased luxury cars with…

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“We cannot allow corruption destroy Nigeria any further” – EFCC

Aminu Imam

The Economic and Financial Crimes Commission, (EFCC), has reiterated its resolve not to allow corruption to continue to destroy the socio-economic fabric of Nigeria. It, therefore, called on the people to unite to ensure that corruption, which it described as a hydra-headed monster, is stamped out of the country. Speaking during a road walk in Uyo, Akwa Ibom State capital, to mark the 2023 International Anti-Corruption Day, with the theme: “UNCAC @20: Uniting the World Against Corruption”, the Zonal Commander of EFCC, ACE-1 Bawa Hamidu Sa’idu, noted that if corruption would…

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