Headlines

Money laundering: EFCC beams light on churches, betting coys, NGOs

DailyTimesNGR DailyTimesNGR 27 January 2024 0

BY ORIAKU IJELE & CHIBUZOR DURU The fight against corruption and money laundering will in the next few weeks get tougher following revelations that the Economic and Financial Crimes Commission will redirect its attention to very unfamiliar but critical sectors of the nation. Saturday Times

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Alleged P&ID scam: Court fixes Feb. 14 for trial of British national

Ihesiulo Grace 13 December 2021 0

A Federal High Court (FHC), Abuja has fixed Feb. 14, 2022 for the commencement of trial of a British national, James Nolan, over allegations bordering on money laundering. Justice Donatus Okorowo fixed the date in view of the valedictory court session held on Monday in honour of the former Chief Judge of FHC, Late Adamu […]

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Absence of EFCC counsel, Diezani Alison-Madueke stalls ex-Petroleum Minister’s trial

Ihesiulo Grace 3 November 2021 0

The absence of counsel to the Economic and Financial Crimes Commission (EFCC) and the former Minister of Petroleum Resources, Diezani Alison-Madueke, in court on Wednesday stalled the money laundering trial. The News Agency of Nigeria (NAN) reports that a Federal High Court, Abuja had fixed today, Nov. 3, for the EFCC to give a report […]

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EFCC denies dropping fraud charges against Adoke

Ihesiulo Grace 4 July 2020 0

The Economic and Financial Crimes Commission (EFCC) has dismissed insinuations that it has dropped money laundering charges against the former Attorney General of the Federation and Minister of Justice, Mr Mohammed Adoke. Spokesperson of the Commission, Mr Dele Oyewale, in a statement on Friday in Abuja, said that there was no truth in some media […]

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Senate mulls blocking revenue losses through money laundering, tax evasion

Ihesiulo Grace 2 July 2020 0

*To investigate illicit financial flows, invites ministers, heads of MDAs The Senate on Wednesday moved to block Nigeria’s revenue loss to money laundering, tax evasion by international oil companies operating in the country (IOCs), proceeds of corruption and other criminal activities involving illicit financial flows. The decision followed resolutions reached sequel to

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EFCC arraigns Saraki for money laundering

Ihesiulo Grace 24 March 2020 0

The Economic and Financial Crimes Commission (EFCC) on Tuesday arraigned a former Senior Special Assistant to the Kwara state Governor on Sustainable Development Goals (SDGs), Ope Saraki before Justice Babangana Ashigar of the Federal High Court, Ilorin, Kwara state for money laundering.  Saraki, a cousin to the immediate past Senate President, Bukola Saraki is facing

Featured

Alleged N33bn money laundering: Court remands Mompha

Ihesiulo Grace 25 November 2019 0

Lagos – Justice Mohammed Liman of the Federal High Court in Lagos on Monday ordered that a socialite, Ismaila Mustapha (a.k.a. Mompha), should be remanded over alleged N33. billion money laundering. Liman gave the order following Mustapha’s not guilty plea to a 14-count charge. The judge said that the defendant should be kept in the […]

News Nigeria

Ex-NNPC boss, Yakubu seeks to quash money laundering charges

Ihesiulo Grace 6 December 2018 0

Embattled former Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mr. Andrew Yakubu, on Wednesday asked the court for a date to present his ‘no case submission’ argument and address. The application the defendant filed challenging the charges against him could not be heard yesterday because prosecution counsel was absent in court. In

Headlines News

Money laundering: Uproar as EFCC arrests Lebanese with $2.15m, £163,740, €144,680

Ihesiulo Grace 1 December 2018 0

…Lebanese’ arrest sequel to intelligence report …We’ll soon charge him to court – EFCC Operatives of the Economic and Financial Crimes Commission (EFCC) on Friday made huge catch with its zero tolerance for money laundering when it arrested one Abbas Lakis, a Lebanese with $2,104,936 millon United States dollar cash at the Nnamdi Azikiwe International

Business Headlines

2019 polls: CBN reads riot act to banks over money laundering

Ihesiulo Grace 23 November 2018 0

…Says heavy penalty awaits any erring banks …MPC holds interest rate at 14%, CRR at 22.5%, Liquidity at 30% The Central Bank of Nigeria (CBN) has warned Deposit Money Banks (DMBs) in the country to be extremely careful not to violate the money laundering Act, stressing that any bank which breaches the act “will be […]

Headlines News

I won’t attend trial until FG obeys court order, says Dasuki

Ihesiulo Grace 14 November 2018 0

…Try him in absentia, says prosecution Former National Security Adviser (NSA), Col Sambo Dasuki (rtd) on Tuesday said he would no longer appear in court for his trial over alleged illegal possession of firearms and money laundering until the Federal Government obey valid court orders admitting him to bail. Apart from the charge of illegal […]

News Nigeria

N9.7bn alleged fraud: Court adjourns Suswam, others till July 4

Ihesiulo Grace 31 May 2018 0

Justice Gabriel Kolawole of the Federal High Court Abuja, on Wednesday adjourned till July 4 for the continuation of trial of former Benue State Governor, Gabriel Suswam and two others on 32-count money laundering charges. The judge adjourned the trial after the evidence of the second prosecution witness, Mr. Ochoga Peter Esuh. After the evidence […]

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Money laundering: Court orders businessman to forfeit $700,000 to FG

Ihesiulo Grace 8 December 2017 0

• As Lagos director forfeits N28.5m, houses A Federal High Court in Lagos, on Thursday, ordered a businessman, Ani Paulinus Onyeka, to forfeit $700,000 out of the $1, 909,140 he allegedly laundered to the Federal Government. The Economic and Financial Crimes Commission (EFCC) had accused Onyeka of laundering $1, 909, 140, but, he entered a […]

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N450m fraud: EFCC re-arraigns Belgore, Suleiman for money laundering

Ihesiulo Grace 29 November 2017 0

For the third time in a row, the Economic and Financial Crimes Commission (EFCC) on Tuesday re-arraigned a Senior Advocate of Nigeria, Dele Belgore and a former Minister for National Planning, Prof. Abubakar Sulaiman before a Federal High Court, Ikoyi, Lagos. The two defendants who were alleged to have laundered the sum of N450 million […]

Business

2017 budget: ECOWAS spent $197m on money laundering, parliament, others

Ihesiulo Grace 23 November 2017 0

The Economic Community of West African States (ECOWAS) has spent $197 million out of its $230.2 million expenditure for 2017. Its total income for the year budget stood at $267.9m. Of the expenditure, the Commission spent $146m, its parliament spent $19.86m; the Community Court of Justice $17.2m; West African Health Organisation, $33.1m; and the Intergovernmental […]

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N3.2bn Fraud: Court To Rule On Kalu’s Objection March 7

Ihesiulo Grace 6 March 2017 0

A Federal High Court in Lagos on Monday fixed March, 7, to rule on the provision of a witness statement, in the trial of a former governor of Abia, Orji Uzor Kalu, charged with money laundering. The Economic and Financial Crimes Commission (EFCC) had on Oct. 31, 2016, preferred a 34-count charge bordering on N3.2 […]

News Politics

Alleged money-laundering: Aregbesola's son demands fresh apology

Ihesiulo Grace 19 May 2015 0

Kabiru, the first son of Osun State Governor, Rauf Aregbesola, has asked a national daily (not Daily Times) to re-publish the apology written to retract a story alleging that he was arrested for money-laundering at the Murtala Muhammed International Airport, Lagos.‎ The national daily on Friday, May 15, 2015 carried a story titled “Controversy Trails […]

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Aregbesola Denies Son’s Involvement in Money Laundering

Ihesiulo Grace 13 May 2015 0

Governor Rauf Aregbesola of Osun State has denied the involvement of any of his children’s in money laundering. The Director, Bureau of Communication & Strategy, Office of the Governor, Mr Semiu Okanlawon in a statement on Wednesday said the allegation that Governor Aregbesola’s son was arrested at Muritala Mohammed Airport by security agents on account […]

Business Money

EFFCC Seeks Financial Institutions Aid in Fighting Money Laundering

Ihesiulo Grace 28 April 2015 0

The Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Lamorde, has urged bankers and major players in Nigeria’s financial sector to cooperate with law enforcement agencies in combating money laundering. He gave the charge at the Chartered Institute of Bankers of Nigeria, CIBN’s Anti-Money Laundering workshop, which held at the Reiz Continental Hotel,

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Money Laundering: Court Allows EFCC to Separate Nnamani’S Trial

Ihesiulo Grace 26 March 2015 0

A Federal High Court, sitting in Ikoyi, Lagos, has granted an application by the Economic and Financial Crimes Commission (EFCC), seeking to separate the trial of a former governor of Enugu State, Dr. Chimaroke Nnamani, from other defendants in a money laundering suit filed against him. Nnamani, who is seeking a return to the Senate […]