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Tag Archives: EFCC

Glo drags EFCC to Court over alleged interest in contractual matter, seeks N50m

glo logo

Leading telecoms giant, Globacom Limited has approached a Lagos State High Court in Igbosere to stop the Economic and Financial Crimes Commission (EFCC) from further investigation and or any other form of involvement over a petition written against it by a foreign firm alleging infractions in a contract it had with it. According to the suit, Globacom Limited is specifically ...

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Again, Court orders forfeiture of 56 houses traced to Diezani Alison-Madueke

Mrs. Diezani Alison-Madueke

Barley less than one month after a Federal High Court in Lagos, ordered a permanent forfeiture of twin palatial condominiums situated in choicest part of Banana Island in Lagos on grounds of being proceeds of crime, on Tuesday, another Federal High Court in Lagos ordered the temporary forfeiture of 56 houses linked to a former Minister of Petroleum Resources, Mrs. ...

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Ibadan on fire as EFCC nabs over 100 undergraduates for internet frauds

Yahoo Boys

A scenario that can be interpreted to mean that Ibadan, the Oyo State capital may have taken over Lagos in terms of internet frauds and associated crimes has emerged. On Monday, the Ibadan office of the Economic and Financial Crimes Commission (EFCC), said that more than 100 undergraduates of various tertiary institutions were in its custody over financial crimes ranging ...

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EFCC steps up loot recovery in N’East, arrests 191 suspects, recovers N110,820m

Efcc magu

Serious indications are continuing to emerge that the embattled chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu is stepping up his service delivery quiescence. Otherwise, barely 24 hours after it secured a strategic judgment leading to the forfeiture of multibillion naira property formally belonging to runaway former Minister of Petroleum, Mrs. Diezani Madueke, the North-East Zone ...

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Like Ikoyi dollars, Court orders permanent forfeiture of Diezani’s $37.5m property

Diez banana

In what can be assumed to mean that the present government is winning the war against corruption, a Federal High Court sitting in Lagos on Monday, ordered the permanent forfeiture of a $37.5m property on Banana Island in Lagos, allegedly belonging to a former Minister of Petroleum Resource, Mrs. Diezani Allison-Madueke. This is coming exactly two months after the Economic and ...

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Etisalat claims 42% debt cleared, chides reports of investigation on use of loan

In continuation of the drama and counter claims trailing the final fight for the soul of Etisalat Nigeria, the company claimed on Thursday that about 42 per cent (about $504 million) of the original loan package of $1.2 billion (about N377.4 billion) from a consortium of Nigerian banks has since been repaid. However, Exotix Capital report in London on Thursday ...

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New twist as banks seek forensic investigation on how Etisalat used $1.2bn loan

Etisalat

Fresh strange developments seem to be trailing the ongoing determination of the destiny of embattled telecoms group, Etisalat this week. Latest on Wednesday indicates that the consortium of 13 banks, involved in Etisalat Nigeria’s $1.2bn loan has changed its game, seeking the Federal Government’s intervention to investigate the management and use of the facility in the first instance. A dependable ...

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Only Zenith Bank is free from N30trn Customs remittance infractions—Senate

Zenith MD

Whereas the Senate Committee probing the Customs N30tn banks remittance infractions has given the Central Bank of Nigeria (CBN) seven days to recover all monies collected by banks on behalf of the agency without remitting them over the years, it has given Zenith Bank clean bill of health that it remitted all accordingly. Others banks in order of what they ...

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Another Lagos Court orders forfeiture of N449m found in Island BDC shop

EFCC Legico

Barely one week after a Federal High Court in Lagos ordered interim forfeiture of all the $43m recovered by the Economic and Financial Crimes Commission (EFCC) from Osborne Towers in Ikoyi, another court on Wednesday gave similar order on the sum of N449,750,000 found in an abandoned Bureau de Change shop in Victoria Island. Justice Rilawan Aikawa gave the order ...

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Finally, FG suspends SGF for IDPs contract complications, NIA’s Oke for Ikoyigate

Osinbajo SFG

As part of smart face saving moves, President Muhammadu Buhari Wednesday suspended Mr David Babachir Lawal, Secretary to the Government of the Federation (SGF), and ordered an investigation into the allegations of abuse of due process made against him in the award of contracts under the Presidential Initiative on the North East (PINE). In a terse statement issued by Femi ...

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