The founder of Eeze Conceptz Limited, Mr. Ezekiel Onyedikachukwu, has dismissed allegations made against him by popular gospel singer Mercy Chinwo, labeling them as unfounded and baseless. In a statement released on Saturday in Abuja, Mr. Maxwell Opara, Onyedikachukwu’s legal representative, clarified that Chinwo’s accusations, including claims of financial misappropriation, were false and had no merit. False Allegations and Contract Disputes Opara accused Chinwo of violating the terms of her record label and management contract with Eeze Conceptz Limited, while also presenting misleading information to the Economic and Financial Crimes Commission (EFCC) against Onyedikachukwu. Contrary to claims made by the EFCC, Opara emphasized that Onyedikachukwu was never Chinwo’s manager but rather her producer. He revealed that Onyedikachukwu discovered Mercy Chinwo in 2017, nurtured her talent, and played a pivotal role in her rise to fame within the gospel music industry. Additionally, the lawyer categorically denied allegations that Onyedikachukwu diverted $345,000 in royalties from the singer. EFCC’s Arrest Warrant Under Scrutiny Opara highlighted inconsistencies in the EFCC’s case against his client. He stated that: “These allegations are false and appear to be part of a coordinated smear campaign by Mercy Chinwo and the EFCC,” Opara said. He further disclosed that a fundamental rights enforcement suit had been filed at the Federal High Court in Lagos on July 17, 2024, to prevent further harassment, arrest, and detention of Onyedikachukwu. Contractual Obligations and Legal Recourse According to Opara, Chinwo signed a five-year contract with Eeze Conceptz Limited in 2017, which included terms on the ownership of her music catalog and revenue splits. However, Chinwo allegedly failed to honor the agreement. In light of these developments, Onyedikachukwu has initiated legal proceedings to set aside the EFCC’s arrest warrant, expressing confidence that the courts will act justly when presented with the facts. Public Advised to Ignore False Claims The lawyer urged the public to disregard defamatory publications targeting Onyedikachukwu and Eeze Conceptz Limited, asserting that the accusations are part of a deliberate attempt to tarnish the label’s reputation. “These schemes are designed to malign the label and its founder, but they will be firmly challenged within the boundaries of the law,” Opara added. Next Court Hearing Scheduled Justice Alexander Owoeye of the Federal High Court in Lagos has adjourned the matter until January 24, 2025, for Onyedikachukwu’s arraignment. The arrest warrant was issued following an ex-parte motion filed by EFCC lawyer Bilikisu Buhari, citing alleged diversion of royalties from Chinwo’s digital platforms and events. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
Lagos High Court dismisses four abuse of office charges against former CBN Governor Godwin Emefiele in the $2.1bn fraud case, citing lack of legal basis. Trial continues February 24. A Lagos High Court, Ikeja division, has dismissed four charges of alleged abuse of office filed against Godwin Emefiele, the former Governor of the Central Bank of Nigeria (CBN). The charges were brought by the Economic and Financial Crimes Commission (EFCC). Justice Rahman Oshodi struck out the charges while delivering a ruling on Emefiele’s preliminary objection, where he contested the court’s authority to preside over the 26-count charge involving a $2.1 billion fraud. Justice Oshodi clarified that the accusations concerning foreign exchange allocation without competitive bidding, which formed the basis of counts 1 to 4, did not constitute an offense under any written law. He stated, “Allocation of foreign exchange without reason is not defined as an offense in any written law. Therefore, counts one to four are struck out.” However, the judge affirmed the court’s jurisdiction over the remaining charges, citing relevant constitutional and statutory laws. He dismissed Emefiele’s application challenging the court’s jurisdiction, emphasizing that the EFCC had demonstrated sufficient territorial authority regarding counts 8 to 26 through the facts presented in the case file. Justice Oshodi subsequently scheduled the continuation of the trial for February 24, allowing the case to proceed. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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A Federal High Court in Abuja has granted the EFCC approval to freeze 24 bank accounts over alleged involvement in terrorism financing and money laundering. Court Approves EFCC’s Motion to Freeze 24 Bank Accounts Over Terrorism Financing Abuja, Nigeria – A Federal High Court in Abuja has authorized the Economic and Financial Crimes Commission (EFCC) to freeze 24 bank accounts across various financial institutions over allegations of terrorism financing. Justice Emeka Nwite granted the EFCC’s request following an ex-parte motion moved by the commission’s counsel, Martha Babatunde. The accounts will remain frozen for 90 days, enabling the EFCC to conclude its investigations into the matter. Allegations and Investigation Details The ex-parte motion, marked FHC/ABJ/CS/1897/V/2024, was filed by senior advocate Ekele Iheanacho. The accounts under investigation are owned by Lawrence Lucky Eromosele, who is allegedly linked to kidnapping and money laundering activities. According to preliminary investigations, these accounts have been used by individuals exploiting cryptocurrency platforms to manipulate the naira’s value and launder illicit funds. Mohammed Khalil, an investigator with the EFCC’s Special Investigation Team under the Office of the National Security Adviser (ONSA), affirmed the ongoing probe. Threats to Security Personnel Khalil disclosed that the EFCC launched the investigation after directives from National Security Adviser (NSA) Nuhu Ribadu. A syndicate had threatened senior NSA operatives and their families, demanding ransom payments while sharing sensitive personal details like home addresses and movements. The investigation identified Eromosele as a key suspect, with bank accounts linked to these criminal activities. Khalil provided evidence, including chat logs and bank statements, to substantiate the claims. Court Ruling Justice Nwite approved the EFCC’s request to freeze the accounts, citing the need to preserve funds linked to terrorism and money laundering until the investigation concludes. The matter is set for a follow-up hearing on March 24, 2025. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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A Federal High Court in Abuja has approved the Economic and Financial Crimes Commission’s (EFCC) request to freeze 67 bank accounts linked to an alleged ₦52.9 million fraud case. Key Highlights:Justice Emeka Nwite granted the EFCC’s application after the agency’s counsel, Martha Babatunde, presented an ex-parte motion. The motion, filed under suit number FHC/ABJ/CS/1895/V/2024, sought permission to halt transactions in these accounts pending the conclusion of investigations. The accounts, domiciled in various banks, reportedly contain proceeds of a crime linked to unauthorized withdrawals and internet fraud. Details of the Case The investigation began following a criminal petition submitted to the EFCC on October 17, 2023, by Advance Development Services Engineering Limited (ADSEL). The complaint accused Taiwo Abubakar Oluwajuwon and Heasy Enterprises of fraudulent activities involving ₦52.9 million. According to the EFCC’s investigator, Ikenna Chukwueze, a preliminary investigation revealed: The EFCC presented several exhibits to support their findings, including account statements of the alleged beneficiaries and details of the transactions. EFCC’s Request The EFCC argued that freezing the accounts is essential to prevent the dissipation of the fraud proceeds while investigations continue. Justice Nwite approved the application, noting its merit, and set the next hearing date for March 24, 2024. Investigation Insights Chukwueze disclosed that a BVN search revealed additional accounts linked to the suspects, further complicating the case. Key findings include: The EFCC emphasized that freezing these accounts is critical to preserving the funds while investigations proceed. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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The EFCC’s recent arrest of 193 foreigners and 599 Nigerians for cybercrime exposes systemic lapses in security and the need for stronger collaboration between citizens and law enforcement. The Economic and Financial Crimes Commission (EFCC) recently executed its largest single-day operation, apprehending 193 foreigners and 599 Nigerians linked to cryptocurrency and romance scam networks. This significant crackdown underscores the growing threat of cybercrime and its far-reaching implications for Nigeria’s security and global reputation. Details of the Operation Reports reveal that among the arrested foreigners, 114 were Chinese nationals, 40 Filipinos, two Kazakhs, one Pakistani, and one Indonesian. These individuals were part of a syndicate specializing in cybercrime and cryptocurrency investment fraud. The suspects were arrested in a surprise raid at a seven-story building known as Big Leaf Building, located at 7, Oyin Jolayemi Street, Lagos. This facility, disguised as a corporate financial institution, served as a training hub for Nigerians in romance and investment scams. These trainees used fraudulent identities to target victims in the United States, Canada, Mexico, and Europe. Systemic Issues Highlighted The discovery of 193 foreign nationals engaged in organized crime within a single location highlights serious lapses in Nigeria’s security framework. This raises questions about the role of immigration authorities and the efficiency of border control measures. It also points to a troubling disconnect between citizens and law enforcement agencies. Local residents failed to report unusual activities in the area, reflecting a lack of awareness and engagement with security efforts. Recommendations for Improvement The Global Perspective Cybercrime is a global issue, and dismantling these networks requires international cooperation. While the actions of a few tarnish Nigeria’s image, it’s essential to recognize the millions of hardworking and honest Nigerians contributing positively to the nation’s reputation. Conclusion The EFCC’s operation is a commendable step toward combating cybercrime, but sustained efforts are needed to address systemic challenges. By uniting government agencies, financial institutions, and citizens, Nigeria can effectively dismantle criminal networks, restore its global standing, and ensure justice for victims worldwide. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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The EFCC has secured a court order for the final forfeiture of a warehouse and 54 steel containers in Ogun State linked to fraudulent activities. The Federal High Court in Lagos has issued a final forfeiture order for a warehouse and 54 steel containers located in Ogun State. These properties, suspected to have been acquired through fraudulent means, have now been handed over to the Federal Government. Presiding over the case, Justice Dehinde Dipeolu granted the order on December 17, 2024, in response to a motion filed by the Economic and Financial Crimes Commission (EFCC). The motion, filed by EFCC counsel Rotimi Oyedepo (SAN), was part of suit FHC/L/MISC/820/24. According to the EFCC, the properties were suspected to have been purchased or developed using proceeds from unlawful activities. Details of the Forfeited Properties: The confiscated assets include: The EFCC highlighted that the forfeiture request was in line with Section 17 of the Advance Fee Fraud and Other Related Offences Act, 2006, which empowers the court to grant such reliefs. This decisive legal action reinforces the EFCC’s commitment to combating fraud and recovering assets obtained through illegal means. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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Learn about the EFCC’s recent invitation to suspended Edo LG chairmen for financial investigations, focusing on payroll documentation and financial accounts. The Economic and Financial Crimes Commission (EFCC) has summoned the suspended chairmen of all 18 local governments in Edo State for questioning. This development was outlined in a letter signed by EFCC Director of Investigation, Abdulkarim Chukkol, addressed to the Secretary to the State Government. Details of the Invitation The letter, dated December 17, directed specific chairmen to appear at the EFCC office on separate days: Documents Required for Investigation The EFCC has requested that the chairmen provide: The EFCC stated that the request complies with Section 38(1) and (2) of the EFCC (Establishment) Act, 2004. Background of the Suspension On December 17, the Edo State House of Assembly suspended the chairmen and their deputies over allegations of insubordination and misconduct. The suspension followed their failure to present financial reports as instructed by Governor Monday Okpebholo. The EFCC’s investigation aims to assess their financial management practices and ensure accountability in public funds usage. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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Former Kogi State Governor, Yahaya Bello, has pleaded not guilty to a new 19-count charge filed by the Economic and Financial Crimes Commission (EFCC) at the Federal High Court in Abuja. Bello, currently in custody at Kuje prison, is accused of involvement in an N80.2 billion fraud during his tenure from 2016 to 2024. Key Allegations Against Yahaya Bello The EFCC alleges that Bello utilized five proxies to purchase luxury properties in Abuja and Dubai using funds sourced illegally. The anti-corruption agency further accused him of attempting to conceal over N3 billion through his associates. In addition, Bello is charged with transferring $700,000 to a U.S.-based account, a violation of the Money Laundering Prohibition Act. The EFCC claims that this act constitutes a breach of public trust, punishable under Sections 18(a) and (c), and Section 15 of the Money Laundering Prohibition Act. Other individuals implicated in the case include Ali Bello (the former governor’s nephew), Dauda Suleiman, Shehu Bello, Rabiu Musa, and Abdulsalam Hudu, who is reportedly at large. Bail Plea and Legal Defense Bello’s legal team, led by Senior Advocate of Nigeria (SAN) J.B. Daudu, urged the court to grant him bail, assuring that he would not flee the country. Daudu emphasized Bello’s history as a two-term governor who traveled only twice during his tenure, portraying him as a law-abiding citizen. In his defense, Bello explained his earlier absence from court, stating it was due to legal measures to challenge the court’s jurisdiction over the case. “It was not an act of disrespect but a legal approach to defend myself,” Bello said. EFCC’s Stance on Bail Request The EFCC’s counsel, Kemi Pinheiro, SAN, expressed no objection to the bail request but recommended strict conditions to ensure Bello’s attendance throughout the trial. Previous Charges This latest case follows a separate 16-count charge, for which Justice Maryann Anenih of an Abuja High Court had remanded Bello to Kuje prison. Meta Description Former Kogi State Governor Yahaya Bello pleads not guilty to EFCC’s 19-count fraud charge, with allegations of N80.2 billion fraud and money laundering. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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A Lagos State High Court in Ikeja has dismissed the N4.8 billion fraud case filed by the Economic and Financial Crimes Commission (EFCC) against Chief Cletus Ibeto, Chairman of Ibeto Energy Development Company. The presiding judge, Justice Oyindamola Ogala, struck out the charges following EFCC counsel Rotimi Jacobs, SAN, informing the court that Chief Ibeto had refunded N3.2 billion of the amount allegedly stolen from Chief Daniel Chukwudozie, the complainant in the case. Background on the Case The EFCC initially filed a 10-count charge of conspiracy, fraud, forgery, and fraudulent document usage against Chief Ibeto and his companies, Ibeto Energy Development Company and Odoh Holdings Limited. Despite multiple attempts, Ibeto’s arraignment was delayed due to his absence from court, although his legal team represented him in proceedings. On November 3, 2023, Justice Ismail Ijelu, the former trial judge, issued an arrest warrant for Ibeto after repeated failures to appear in court. However, in February 2024, the Chief Judge of Lagos State, Justice Kazeem Alogba, reassigned the case to Justice Ogala after Ibeto’s defense team accused Justice Ijelu of bias and questioned the court’s jurisdiction. Case Resolution At a resumed hearing, EFCC’s counsel Jacobs informed the court that the parties had agreed to resolve the matter amicably through an out-of-court settlement. Defense counsel, Adebayo Oshodi, confirmed this resolution and assured the court that his client had refunded a significant portion of the money. He also clarified that no unresolved issues remained between the parties. Key Points This ruling marks the end of a lengthy legal battle, with all parties agreeing to a settlement outside the courtroom. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, highlighted the severe level of corruption in Nigeria’s power sector, describing it as disheartening enough to move people to tears. He stated, “Currently, we are facing challenges with electricity. If you were to see some of the investigations we are conducting in the power sector, you would be deeply moved.” Olukoyede explained that contractors assigned to supply electricity equipment often use substandard materials. For example, instead of utilizing the specified 9.0 gauge equipment, they opt for a 5.0 gauge, leading to frequent malfunctions, system burnouts, and power failures. This issue, he noted, contributes significantly to the country’s persistent power problems. These remarks were made during an oversight visit by the House of Representatives Committee on Financial Crimes to the EFCC headquarters in Abuja. Olukoyede emphasized the need for collaboration between the EFCC and lawmakers to effectively tackle financial crimes. He expressed particular concern over corrupt practices in the power sector, which have hindered national infrastructure development. Highlighting specific examples, Olukoyede revealed that some contractors intentionally cut corners by supplying substandard materials, exacerbating power outages and infrastructure breakdowns. This, he said, is one among many instances where corruption has impeded the nation’s progress. Additionally, Olukoyede outlined the EFCC’s new strategic focus on asset tracing and recovery, crediting this shift for the commission’s successes over the past year. He remarked, “For every 10 Naira we recover, it’s possible that 30 or 40 Naira has been stolen. If we recover about 440 billion Naira and several billion dollars annually, the total sum stolen is staggering.” To counteract these losses, Olukoyede stressed the importance of preventive measures, noting, “To recover 10 Naira, the cost might be between 4 to 5 Naira. However, to prevent the theft of 10 Naira, the cost is less than 1 Naira, according to our research and experience. Prevention is, therefore, the most cost-effective strategy against corruption.” READ ALSO: EFCC invitation: I have nothing to hide —Okowa Former Delta State Governor, Dr. Ifeanyi Okowa, has affirmed he has nothing to conceal about his eight-year administration following an invitation from the Economic and Financial Crimes Commission (EFCC).Okowa stated that the commotion surrounding his…. He also highlighted the need for better resources and improved staff welfare to bolster the EFCC’s efforts. In response, Ginger Onwusibe, Chairman of the House Committee on Financial Crimes, pledged the committee’s commitment to supporting the EFCC through legislative measures and increased budget allocations. Onwusibe called on the EFCC to enhance its operational capacity and strengthen partnerships with other agencies and development partners to improve accountability and effectiveness in the fight against corruption.
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According to the Economic and Financial Crimes Commission (EFCC), four people have been taken into custody for allegedly breaking into an Abuja bank’s system. On October 29, 2024, the EFCC made this information public on its X page. The accused were named by the Commission as Daminan Ali, Mohammed Bello Mahmud (the managing director of Downstone Ultimate Limited), Effiong Victor Emmanuel, and Chima Anthony Nwigwe (who was allegedly the head of the bank hacking syndicate). READ ALSO EFCC claimsAccording to the EFCC, the suspects planned to make “fraudulent withdrawals of depositors’ funds” and obtain “unauthorized access to banks’ computer systems.” Following actionable intelligence regarding their alleged involvement in hacking and accessing commercial banks’ databases, resulting in fraudulent transfers and withdrawals through a variety of digital channels,” the EFCC continued, omitting the bank’s name. The anti-graft agency said that after the investigations were finished, the suspects will face charges in court. Things you should be aware ofAfter the Commission and the parties involved have made their cases, a court with the necessary authority will decide the suspects’ fate, so the EFCC statement stays in the domain of allegations.This development coincides with an increase in fraudulent activity on Nigerian financial platforms, which caused Nigerian banks to lose N42.6 billion in three months between April and June of this year.The Financial Institutions Training Centre (FITC) disclosed this in its recently published Q2 2024 Fraud and Forgeries report in September. According to LMSINT MEDIA, the sum lost in Q2 2024 alone—excluding the Q1 figures—surpassed the total amount lost to bank fraud in 2023.According to an analysis of FITC data from the previous year, banks lost N9.4 billion in total. Compared to the N468.4 million lost in Q1 2024, the Q2 loss represents an 8,993% rise on a quarterly basis. In comparison to the N5.7 billion loss reported in Q2 2023, this also signifies a 637% rise. The results from the nation’s twenty-eight (28) deposit money institutions form the basis of the FITC report. FITC reports that 80 of these refunds were received during the reviewed quarter. Additional investigation reveals that 26 reports were filed in April. whereas in May and June, there were twenty-seven (27) reports.
