Category: Financial Crimes

ICPC, AGF Ask Court to Reject El-Rufai’s N1bn Suit Over Family Access

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ICPC, AGF Ask Court to Reject El-Rufai’s N1bn Suit Over Family Access

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Attorney-General of the Federation (AGF) have urged the Federal High Court in Abuja to dismiss a ₦1 billion fundamental rights suit filed by former Kaduna State Governor Nasir El-Rufai over alleged restrictions on access to his family while in detention. The case, marked…

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Financial Crimes, ICPC

Alleged Investment Scam: How I Lost over N500m to Couple, Accomplice -Witness  

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Alleged Investment Scam: How I Lost over N500m to Couple, Accomplice -Witness  

The trial of the Chief Executive Officer of Onome Global Market Resources Limited and Lexicon Multi-concept Media Limited, Osabohein Alex Ologbose and his wife, Hope Onome Oghelemu, continued on Thursday, September 24, 2026, before Justice Ekerete Akpan of the Federal High Court, Abuja, with the third Prosecution Witness, PW3, Ikechukwu Chikelum, narrating how the couple…

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EFCC Court Cases, Financial Crimes

EFCC, NELFUND Move to Tighten Controls as Student Loan Diversion Comes Under Fresh Scrutiny

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EFCC, NELFUND Move to Tighten Controls as Student Loan Diversion Comes Under Fresh Scrutiny

The Economic and Financial Crimes Commission (EFCC) and the Nigerian Education Loan Fund (NELFUND) have entered into a new partnership aimed at strengthening safeguards around the management and disbursement of funds meant for Nigerian students. The two agencies signed a Memorandum of Understanding (MoU) in Abuja on Wednesday, September 23, 2026, with financial crime prevention,…

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Financial Crimes

SCANDAL: $500,000 Transfer to Atiku’s Wife Comes Under ICC Scrutiny in Mambilla Power Dispute

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SCANDAL: $500,000 Transfer to Atiku’s Wife Comes Under ICC Scrutiny in Mambilla Power Dispute

Fresh details from the International Chamber of Commerce (ICC) arbitration in Paris have drawn attention to a $500,000 payment made in January 2003 to Jennifer Douglas, who was then the wife of former Vice-President Atiku Abubakar, amid negotiations surrounding the controversial Mambilla Hydroelectric Power Project. The details are contained in the final award of a…

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Financial Crimes

PXES Investment Crisis: Nigerians Count Losses as Platform Blocks Withdrawals, Offices Stormed

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PXES Investment Crisis: Nigerians Count Losses as Platform Blocks Withdrawals, Offices Stormed

Nigerians who invested substantial sums of money in an online investment platform identified as PXES are reportedly counting their losses after the platform became inaccessible and withdrawals were said to have stopped, triggering anger among affected investors. PXES, described in reports as an investment and savings platform, attracted participants with different investment packages and promises…

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Financial Crimes, Ponzi Scheme Scams

Six Nigerians Extradited from South Africa to US Over Alleged R100m Romance Scam

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Six Nigerians Extradited from South Africa to US Over Alleged R100m Romance Scam

Six Nigerian nationals accused of involvement in an international cybercrime network have been extradited from South Africa to the United States to face charges linked to an alleged romance-scam operation said to have defrauded victims of more than R100 million. The extradition was reportedly facilitated by South Africa’s Directorate for Priority Crime Investigation, popularly known…

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Crime Watch, Financial Crimes, Romance Crimes

EFCC Bombshell: University VC’s Residence Said to Rival Aso Rock as Government Takes Over Forfeited Institution

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EFCC Bombshell: University VC’s Residence Said to Rival Aso Rock as Government Takes Over Forfeited Institution

The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has sparked public interest after revealing that a private university recently forfeited to the Federal Government has a residence built for its vice-chancellor that he described as potentially larger than President Bola Tinubu’s official residence at the Aso Rock Presidential Villa. Olukoyede made…

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Financial Crimes

EFCC Offers Up to 5% Reward to Nigerians Who Help Recover Stolen Assets Hidden Abroad

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EFCC Offers Up to 5% Reward to Nigerians Who Help Recover Stolen Assets Hidden Abroad

The Economic and Financial Crimes Commission (EFCC) has urged Nigerians, particularly young people, to provide credible information that can help trace and recover Nigerian assets suspected to have been stolen and concealed within the country or overseas. EFCC Chairman, Ola Olukoyede, made the appeal on Wednesday, August 26, 2026, while delivering a lecture at the…

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Financial Crimes

EFCC Recovers $60 Million in Ongoing Investigation Into Nestoil Transactions

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EFCC Recovers $60 Million in Ongoing Investigation Into Nestoil Transactions

The Economic and Financial Crimes Commission (EFCC) has recovered $60 million from Nestoil Limited as part of an ongoing investigation into the alleged criminal aspects of transactions involving the oil company and a consortium of its lenders. The recovery followed a meeting convened and chaired by EFCC Chairman Olanipekun Olukoyede, where Nestoil Limited and its…

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Financial Crimes

Ex-Gov. Abdulfatah Ahmed: Court Adjourns N5.78bn Diversion Trial as Key Witness Fails to Appear

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Ex-Gov. Abdulfatah Ahmed: Court Adjourns N5.78bn Diversion Trial as Key Witness Fails to Appear

The ongoing trial of former Kwara State Governor Abdulfatah Ahmed and his former Commissioner for Finance, Ademola Banu, over an alleged diversion of N5.78 billion in State Universal Basic Education Board (SUBEB) funds was stalled on Monday following the absence of a prosecution witness. The case is being prosecuted by the Ilorin Zonal Directorate of…

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EFCC Court Cases, Financial Crimes