Tag: Money Laundering

Buhari signs 3 anti-money laundering Bills into law

Aminu Imam

President Muhammadu Buhari, yesterday, signed into law, three Bills aimed at improving the anti-money laundering and counter-terrorist financing/proliferation financing framework in Nigeria. The bills are: the Money Laundering (Prevention and Prohibition) Bill, 2022; the Terrorism (Prevention and Prohibition) Bill, 2022, and the Proceeds of Crime (Recovery and Management) Bill, 2022. While signing the laws at the Council Chamber, State House, Abuja, the President said that the Bills were in tandem with this administration’s commitment to fighting corruption and illicit financing activities, as well as critical to the governance agenda and…

Read More

Money Laundering: United States to proceed with case to seize $150 million linked to Kebbi Governor

Aminu Imam

United States authorities said it will resume legal proceedings to seize over $150 million allegedly laundered by Kebbi State Governor Atiku Bagudu, Bloomberg reported on Tuesday. According to the report, Bagudu, a member of the ruling All Progressives Congress (APC), made a failed attempt for an out-of-court settlement with US authorities. The U.S. alleges that the Governor Bagudu was part of a network controlled by former Nigerian military Head of State, Sani Abacha, that misappropriated billions of dollars from State coffers in the 1990s. Bagudu’s brother, Ibrahim, who is entitled…

Read More

Alleged money laundering: Court adjourns case against retired Air Commodore until Dec. 7 due to ill health

Abdul-Azeez Ahmed Kadir

The Federal High Court on Monday adjourned until December 7, the trial of a member of the Presidential Committee on Procurement of Arms and Equipment in the Armed Forces, Air Commodore Umar Mohammed (Rtd), due to ill health. The EFCC arraigned Mohammed on an amended five-count charge bordering on money laundering, illegal possession of firearms and possession of official documents without lawful authority in 2016. Justice Inyang Ekwo, fixed the date after Mohammed’s counsel, Hassan Liman, SAN, told the court that his client had a surgery and couldn’t sit down now. Earlier, EFCC lead prosecution…

Read More

Alleged Money Laundering: EFCC files amended charges against ex- AGF Adoke

Ishaku Yohanna

The Economic and Financial Crimes Commission (EFCC) has filed an additional seven charges against a former Attorney-General of the Federation, Mohammed Adoke, over money laundering allegations involving about N400 million. The trial of the ex-AGF who was re-arraigned alongside an Abuja-based businessman, Aliyu Abubakar, before Justice Inyang Ekwo of the Federal High Court in Abuja on June 17, 2020, was expected to begin on Monday, but it was stalled due to the amended charges. The initial charge contained seven counts, with six of them relating to Adoke. At the resumed…

Read More

Alleged money laundering: Court orders Diezani to surrender self for trial

Ishaku Yohanna

The Federal High Court, Abuja, on Friday, ordered former Minister of Petroleum, Diezani Alison-Madueke, to appear before it and answer to a money laundering charge filed against her by the Economic and Financial Crimes Commission (EFCC). The judge, Ijeoma Ojukwu, gave the order in a ruling on an ex-parte motion marked: FHC/ABJ/CR/208/2018 brought by the EFCC’s lawyer, Faruk Abdallah. Ojukwu ordered the issuance of summons on Mrs Alison-Madueke for her to be arraigned on the charge. The EFCC had accused the former minister of fleeing the country for the United…

Read More