Corruption news
The Chairman/Chief Executive Officer of Algrain Foods Limited, Chief Anthony Obidulu, maintained his stand before a Lagos High Court sitting in Osborne that First City Monument Bank, FCMB, never advanced any loan to him. Rather, the money in question was the one hundred million naira (N100 million) Small and Medium Enterprises Credit Guarantee Scheme facility granted…
First Bank, a Nigerian bank with a market capitalisation of ₦829 billion has begun legal action to recover “huge sums of money” allegedly diverted by an employee at a head office team in Iganmu, Lagos. The employee, now on the run, allegedly diverted those funds to 98 bank accounts classified as first beneficiaries, including his…
Federal government has dragged two top executives of Telecom Satellites Limited (TSTV), to court over alleged tax evasion, money laundering and advanced fee fraud offences. The accused are Dr Bright Ikechukwu Echefu, managing director and chief executive officer of TSTV and Dr Felix Nnamdi Ignoanuga said to be the executive director of the telecom satellites…
The US government has filed a civil forfeiture action to recover $5.3 million linked to a business email compromise (BEC) scheme that defrauded a Massachusetts workers union. In January 2023, a spoofed email led the union to transfer $6.4 million to a fraudulent account. The funds were then routed through various international banks and cryptocurrency […]
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Parties cited for contempt include Access Bank, Citibank, Jaiz Bank, Union Bank, Fidelity Bank, First Bank of Nigeria Plc, First City Monument Bank, NDIC (liquidator for Heritage Bank), Polaris Bank, Stanbic IBTC Bank, Standard Chartered Bank, Taj Bank, United Bank for Africa and Zenith Bank alongside its principal officers.
Guaranty Trust Bank, GTBank, has sued one of its staff, Komolafe Oluwayomi, 45, before a Lagos Magistrate’s court for allegedly breaking into the bank’s system to steal the sum of N9,989,000 from its account and converted the money to his personal use. The defendant was ordered arrested by the Divisional Police Officer, DPO in charge […]
Two members of a syndicate who specialise in killing drivers of ride-hailing apps and selling their cars have been arrested by policemen in Lagos State. Roqib Moshood and an alleged accomplice, Olawale Kolawole, have been arrested, while efforts are ongoing to arrest other fleeing gang members, including one identified as Yusuf Adeyemi. Yusuf Adeyemi, alongside…
Ibadan Zonal Command of the Economic and Financial Crimes Commission, EFCC, has secured the conviction and sentence of thirty-six (36) internet fraudsters to various jail terms before Justices Uche Agomoh and E.U. Akpan of the Federal High Court, Ibadan, Oyo State; Ladiran Akintola, K.B. Olawoyin, Bayo Taiwo and O.S. Adeyemi of the Oyo State High […]
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Justice Emeka Nwite of the Federal High Court in Abuja, on Thursday, issued a warrant for the arrest of three officials of the Nigeria Rural Electrification Agency, who are defendants in four separate criminal charges, bordering on alleged N1.85bn fraud. The judge ruled that the officials, identified as Emmanuel Titus, Umar Karaye and Henrietta Okojie,…
The minister of Science and Technology, Geoffrey Nnaji, is at the centre of a National Youth Service Corps certificate scandal. He is said to be in possession a fraudulent national service certificate. Nnaji was confirmed as minister from Enugu State on August 7, 2023, alongside 44 other cabinet members, following their nomination by the Senate…
