Tag: Money Laundering

ICPC arraigns ex-Kaduna Gov. el-Rufa’i’s associate, Amadu Sule over ‘₦311bn money laundering’ charges

Aminu Imam
ICPC arraigns associate

The Independent Corrupt Practices and Other Related Offences Commission, (ICPC), has arraigned Amadu Sule, managing director of TMDK Terminal Limited, over alleged ₦311 billion money laundering. Sule, an associate of Nasir el-Rufa’i, former governor of Kaduna state, was arraigned on Monday at the Federal High Court in Kaduna on a 5-count charge bordering on money-laundering and unlawful retention of proceeds of fraud, contrary to the Money Laundering (Prevention and Prohibition) Act, 2022. According to the charge sheet filed by the ICPC, Sule allegedly exercised control over more than ₦311 billion…

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Money Laundering: EFCC to prosecute top bankers for economic, financial crimes

Aminu Imam
EFCC to prosecute

The Economic and Financial Crimes Commission (EFCC) is preparing to prosecute some top bankers in Nigeria for their involvement in money laundering and other financial crimes. The development was disclosed by the EFCC Chairman, Olanipekun Olukoyede, during the 17th Annual Banking and Finance Conference, organised by the Chartered Institute of Bankers of Nigeria (CIBN), held in Abuja yesterday. Olukoyede revealed that the Commission has completed its investigations into the activities of certain banks and their top officials and that it is set to move forward with prosecutions. “It is sad…

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‘Some private jets used for money laundering, drug trafficking’– Minister

Aminu Imam
Minister on private jets

Minister of Aviation and Aerospace Development, Festus Keyamo, says some private aircraft operating in Nigeria are being used for money laundering, drug trafficking and other illegal activities. Keyamo made the revelation at the Ministry of Aviation in Abuja yesterday, when he inaugurated a Ministerial Taskforce Committee to checkmate illegal chartered operations in the country. Though the Minister did not mention the names of the airlines, he asserted that these illegal activities have made the sector lose billions of dollars and raised serious security concerns. The Minister further stated that some…

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Kogi: Court admits exhibits against Gov. Bello’s nephew over N10bn allegedly siphoned from Gov.’s account

Aminu Imam

A prosecution witness in the trial of Ali Bello, nephew of Kogi State governor, Yahaya Bello, and two others who are standing trial in a N10 billion money laundering case, on Thursday, told Justice James Omotsho, of the Federal High Court, Abuja, that huge funds were transferred in tranches from the accounts of Kogi State government and that of the State’s Government House administration account in suspicious transactions. The defendants are being prosecuted on 10-count charges bordering on misappropriation and money laundering by the Economic and Financial Crimes Commission, EFCC.…

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Alleged Money Laundering: EFCC seizes $760,000 meant for Gov. Bello’s children’s school fees 

Aminu Imam

The Economic and Financial Crimes Commission, (EFCC), has seized a sum of $760,910.84 paid by Governor Yahaya Bello, of Kogi State, to the American International School, Abuja. The money was allegedly paid by the governor to American International School for his four children; however, the anti-graft agency seized the money, which was said to have constituted money laundering under Nigerian laws. Reports yesterday quoted some documents which indicated that Yahaya Bello’s nephew, Ali Bello, entered into agreement with the American International School in August, 2021, whereby the sum of $845,852.84…

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Alleged Money Laundering: “I’m dying of cancer: allow me to come back home” – Diezani begs Tinubu

Aminu Imam

The embattled former Petroleum Minister during the regime of President Goodluck Ebele Jonathan, who ran to the United Kingdom (UK) for the fear of the Economic and Financial Crimes Commission (EFCC), Diezani Alison-Maduekwe, has now begged Nigerian government for liniency. Mrs.Diezani, who is reportedly suffering the second stage of her cancer, has beg president Bola Ahmed Tinubu to allow her to come back to Nigeria to confess to her misappropriation while in office. According to reports, she was answering questions from the press in London after a medical visit. The…

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Money Laundering: EFCC arraigns Kogi Governor, Yahaya Bello’s wife, nephew over N3bn fraud

Aminu Imam

The Economic and Financial Crimes Commission (EFCC), yesterday arraigned the Kogi governor’s wife, Rashida Bello, and his nephew, Ali Bello before the Abuja Division of the Federal High Court. The duo, alongside three others, are standing trial over an alleged N3 billion money laundering and ‘criminal misappropriation’, according to a statement by EFCC spokesman Wilson Uwajiaren. Count One of the charges reads: “That you, Ali Bello, Abba Adaudu, Yakubu Siyaka Adabenege, Iyada Sadat, Rashida Bello (at large) sometime in June, 2020 in Abuja within the jurisdiction of this Honourable Court…

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Money laundering: Court convicts Labour Party’s Doyin Okupe, gets 2-yr jail term  

Aminu Imam

A Federal High Court sitting in Abuja yesterday convicted the Director-General of the Labour Party, LP’’s Presidential Campaign Council, Doyin Okupe, for violating the Money Laundering Act. Okupe was found guilty of receiving the sum of N240 million from the former National Security Adviser (NSA), Col. Sambo Dasuki.  The presiding judge, Justice Ijeoma Ojukwu, sentenced Okupe to two years imprisonment in the case filed by the Economic and Financial Crimes Commission (EFCC), who stated that the accused breached the Money Laundering Act.  Justice Ojukwu stated that Okupe was guilty in…

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Money laundering: ICPC investigates completed, unoccupied estates in Abuja, Lagos, P’Harcourt

Aminu Imam

The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Prof. Bolaji Owasanoye, (SAN) said the commission is set to investigate completed and uncompleted housing estates in Abuja, Lagos and Port Harcourt. Owasanoye said the aim is to tackle money laundering and illicit financial flows (IFFs) in Nigeria. This was contained in his goodwill message at the 13th Annual General Meeting (AGM) and Conference of the Association held in Enugu. The chairman, who was addressing the leadership of the Real Estate Developers Association of Nigeria (REDAN), warned…

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N80bn Money Laundering: EFCC nabs Accountant-General of the Federation, Ahmed Idris

Aminu Imam

Nigeria’s Accountant-General, Ahmed Idris, has reportedly been arrested over alleged money laundering and diversion of public funds. Those familiar with the development said Idris was intercepted in Kano by operatives of the Economic and Financial Crimes Commission, (EFCC), yesterday evening and was flown to Abuja, the nation’s capital, for interrogation. According to sources, the EFCC has for some time now been investigating a case of diversion of at least N80 billion in public funds which were allegedly laundered through some bogus contracts. The companies used in laundering the funds have…

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