EFCC Arraigns Woman Over ₦240.5 Million Fraud In Abuja
The Economic and Financial Crimes Commission (EFCC) has arraigned a woman in Abuja for allegedly defrauding victims of ₦240.5 million. According to the EFCC, the suspect was involved in a scheme that promised business opportunities but later turned out to be fraudulent. During the court session, prosecutors revealed how the suspect allegedly diverted the funds […]
FBI and the Ghanaian government have seized singer Shatta Wale’s Lamborghini linked to $4.7m fraud case in US
Ghanaian dancehall star Shatta Wale has had his 2019 Lamborghini Urus seized by the Economic and Organised Crime Office (EOCO) in Ghana. The seizure was carried out in collaboration with the United States Federal Bureau of Investigation (FBI) and the US Justice Department. This action followed a request from US authorities back in 2023. The […]
EFCC probes woman arrested with undeclared $14,567, £1030 and CA$40 at Lagos Airport
The Economic and Financial Crimes Commission (EFCC) in Lagos has started investigating a woman named Phil-Olumba Ifunaya Sheila. She was arrested by the Nigeria Customs Service (NCS) for trying to travel out of the country with a large amount of money without declaring it. Sheila was stopped during a routine security check at the Murtala […]
Gospel Singer And Eight Others Convicted For Cybercrime In Kwara State
A gospel singer and eight others have been sentenced to prison in Kwara State for internet fraud and financial crimes. The convictions were handled by the Ilorin Zonal office of the Economic and Financial Crimes Commission (EFCC), as reported by Eyes of Lagos. The EFCC released a statement on July 18, 2025, confirming that Moses […]
Barclays bank fined £42m by financial watchdog for handling money laundering poorly
Barclays Bank has been hit with a heavy fine of £42.4 million by the UK’s financial regulator for not properly handling the risk of money laundering in two different situations linked to WealthTek and Stunt & Co. Out of the total fine, £39.3 million was for Barclays’ failure to manage risks when dealing with Stunt […]
EFCC Arraigns Suntrust Bank MD Halima Buba, Director Over $12 Million Fraud
The Economic and Financial Crimes Commission (EFCC) has taken Halima Buba, the Managing Director of SunTrust Bank Nigeria Limited, and Innocent Mbagwu, the bank’s Executive Director and Chief Compliance Officer, to court over a suspected money laundering case worth $12 million. Both were brought before Justice Emeka Nwite at the Federal High Court in Abuja […]
CBEX: EFCC declares two more wanted
The Economic and Financial Crimes Commission (EFCC) has declared two more people wanted. This is connected to a major fraud case involving Crypto Bridge Exchange (CBEX), an online digital trading platform. The two people, Folashade Odelana and Bamidele Ayodele Abiodun, are accused of carrying out a scam that caused huge financial losses for many investors. […]
EFCC investigator alleges Emefiele received $17.1m cash through proxy in three years
An investigator from the Economic and Financial Crimes Commission (EFCC) has said that the former Governor of the Central Bank of Nigeria, Godwin Emefiele, received $17.1 million in cash through someone else over three years. The EFCC officer, Alvan Gurumnaan, told the court on Tuesday that the money was given between 2020 and 2023. The […]
EFCC reveals why the agency arrested VDM, grants him administrative bail
The Economic and Financial Crimes Commission (EFCC) has finally spoken about why it arrested popular social media personality, Martins Vincent Otse, also known as Very Dark Man (VDM). In a statement shared earlier today, the EFCC said VDM was taken into custody because of multiple complaints they received. These complaints involved serious claims of financial […]
Real estate has become leading form of money laundering in Nigeria – Patrick Doyle alleges
Veteran Nollywood actor Patrick Doyle has raised concerns about the real estate industry in Nigeria. He believes it has become a major way for people to launder illegal money. In a recent interview on Echo Room with Quincy Jones, Doyle pointed out that many estates in Abuja and Lekki have fully built but unoccupied houses. […]