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In a dramatic turn of events, President Bola Tinubu has wielded the axe, suspending Dr. Betta Edu, the Minister of Humanitarian Affairs and Poverty Alleviation, from her duties with immediate effect. This bold move was unveiled in a statement disclosed by Ajuri Ngelale, the Special Adviser to the President on Media and Publicity. The suspension,…
In a sweeping investigation targeting forex allocations during Godwin Emefiele’s tenure as Governor of the Central Bank of Nigeria (CBN), the Economic and Financial Crimes Commission (EFCC) has made its presence felt at the headquarters of Dangote Group and several other companies, a development confirmed by office staff to The Cable on Wednesday. Amidst the…
In a sweeping move, the Economic and Financial Crimes Commission (EFCC) executed an unannounced raid on the nerve center of the Dangote Group in Lagos, intensifying investigations into forex allocations amid allegations of preferential treatment. Sources privy to the situation disclosed that EFCC operatives descended upon the conglomerate’s headquarters, demanding access to records documenting a…
In a monumental clash of interests, the Economic and Financial Crimes Commission (EFCC) finds itself at odds with nine governors of oil-producing states, unraveling a high-stakes dispute surrounding a colossal sum of N84.7 billion diverted from the statutory 13 per cent derivation meant for these states. Tensions escalated dramatically following the EFCC’s demand for the…
In a recent development, courts in Oyo and Ogun states have delivered verdicts against 37 individuals involved in internet fraud-related activities. The Economic and Financial Crimes Commission (EFCC) revealed that these convictions came after the defendants pleaded guilty to one-count charges of internet fraud, following arraignments between November and December. The EFCC, responsible for their…
In a pivotal legal ruling, the Oyo State High Court in Ibadan pronounced a substantial verdict on December 14, 2023, convicting Olaniyan Gbenga Amos to a staggering 75 years behind bars. The sentence, meted out by Justice Bayo Taiwo, stemmed from multiple counts of investment fraud linked to his firm, Detorrid Heritage Investment Limited. The…
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has urged the implementation of legislation targeting unexplained wealth to curb treasury looting in Nigeria. Olukoyede emphasized the global adoption of Unexplained Wealth Orders (UWOs) by various nations but highlighted Nigeria’s lack of dedicated laws in this regard. Speaking at a…
The Economic and Financial Crimes Commission (EFCC) is gearing up for an unrelenting battle against corrupt elements and financial looters in Nigeria. Mr. Ola Olukoyede, the Executive Chairman of the EFCC, affirmed this resolve during a Road Walk event held in Abuja on Saturday, December 9, 2023, marking the 2023 International Anti-Corruption Day. Olukoyede emphasized…
In a recent legal development, the Economic and Financial Crimes Commission (EFCC) Ibadan Zonal Command arraigned eleven Obafemi Awolowo University (OAU) students before Justice Nathaniel Ayo-Emmanuel of the Federal High Court in Osogbo, Osun State. The EFCC has charged these students with several counts of their involvement in cyber fraud. The accused faced a variety…
Group Captain B. Topman, the newly appointed Commandant of Akanu Ibiam International Airport in Enugu, wants to cooperate more closely with the Economic and Financial Crimes Commission (EFCC) to combat economic and financial crimes at airports across the country. During his visit to the EFCC’s Enugu Zonal Command, Topman emphasized the EFCC’s critical role in…