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Tag Archives: EFCC

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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FG mute on Ikoyi $43m, shifts attention to how looters bury stolen funds in cemeteries, forests

EFCC Ikoyi home

Not up to one week after the Ikoyi House $43 million dollar recovery by the anti graft agency, latest strategy used by looters of public funds has emerged. But in a statement on Sunday, the Federal Government smartly shielded comments away from the trending puzzle of who owns the cash, and diverted attention by informing Nigerians that anti corruption agencies ...

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Court orders interim forfeiture of $43m, £27,800, N23m found in Ikoyi House to FG

EFCC Ikoyi home

In what can be described as galloping rise in star performance on the side of the Economic and Financial Crimes Commission (EFCC) since the Acting Chairman, Mr. Ibrahim Magu failed integrity test at the Nigerian Senate, the agency, yesterday secured a Federal High Court Order in Lagos for the temporary forfeiture of the sums of $43,449,947, £27,800 and N23,218,000 it ...

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Court vacates order freezing Patience Jonathan’s account in Skye Bank

Patience J

After about six months of legal battle, a Federal High Court in Lagos on Thursday issued an order unfreezing the Skye Bank account of a former First Lady, Patience Jonathan. The Economic and Financial Crimes Commission (EFCC) had in November 2016, filed an application before the court, seeking an order freezing the account. EFCC based their approach to the court ...

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90% of recession causative factors linked to corruption—Magu

Efcc magu

Even though he failed to secure the anticipated confirmation at the Senate plenary Wednesday, the embattled Acting Chairman of Economic and financial Crimes Commission (EFCC), Mr. Ibrahim Magu during his response at the floor of the red chambers revealed that “If we want to tell ourselves the truth, over 90 per cent of the causative factors for recession cannot be ...

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Unnamed State Governor returns N500m of Paris Debt money

Efcc magu

It was not very easy to classify the gesture as ‘Self Whistle Blowing’ or escape from imminent danger as a Nigerian serving state governor weekend returned N500 million found in his account to the Economic and Financial Crimes Commission (EFCC). The fund seems to be a fraction of recently returned excess deductions from states by the Paris Club and World ...

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Space for settlement abounds as Court adjourns forfeiture order in MTN Vs. FG sine die

NCC Vs MTN Nigeria

Whereas Phutuma Nhleko, MTN group chairman, had said last week that accusations that the group moved funds illegally out of Nigeria had no basis, signals are emerging that serious discussion on the possible use of out of court settlement or diplomatic means are being applied in the handling of the matter following the indefinite adjournment (sine die) of the suit ...

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Police continues prosecution of alleged Zinox Technologies blackmailer

Ekeh, Zinox boss

The Nigerian Police is to continue the prosecution of a case involving Benjamin Joseph, an Enugu indigent and self-acclaimed Managing Director of an Ibadan-based company, Citadel Oracle Concepts Ltd., who is alleged to have resorted to blackmail and threats against the Chairman, Zinox Technologies, Leo Stan Ekeh and other senior Management staff – Mrs. Chioma Ekeh, Barr. Chris Eze Ozims ...

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