EFCC Unveils 58 Fraudulent Investment Schemes Defrauding Nigerians ABUJA – The Economic and Financial Crimes Commission (EFCC) has exposed 58 unauthorized investment platforms operating as Ponzi schemes, deceiving unsuspecting Nigerians and swindling them out of their hard-earned money. According to the EFCC, these companies, disguising themselves as legitimate investment firms, are not recognized by the […]
The Economic and Financial Crimes Commission (EFCC), Kaduna Zonal Directorate, has arrested 11 suspected internet fraudsters in Niger State. The operation took place at White Hotel, located in the Chanchangi Local Government Area, following credible intelligence regarding their involvement in cybercrime activities. EFCC’s Raid on Suspected Internet Fraudsters According to an official statement from the […]
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EFCC Chairman Ola Olukoyede criticizes Nigerians for condemning corruption but defending corrupt leaders. He emphasizes the need for collective action to fight financial crimes in Nigeria. Nigerians Criticize Corruption but Shield Corrupt Leaders – EFCC Boss Olukoyede The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has raised concerns about Nigerians’ conflicting […]
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The Economic and Financial Crimes Commission (EFCC) has brought charges against 11 Chinese nationals and one Filipino over alleged involvement in internet fraud, including cryptocurrency investment scams and romance scams. The suspects were arraigned before Justice D.I. Dipeolu at the Federal High Court in Ikoyi, Lagos. Details of the Arraignment The individuals, alongside Genting International […]
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The EFCC has urged 2024 NYSC Batch C Stream II corps members to stand against corruption, emphasizing hard work over fraud and the role of youths in national development. Introduction The Economic and Financial Crimes Commission (EFCC) has called on members of the 2024 Batch C Stream II of the National Youth Service Corps (NYSC) […]
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Three Nigerian nationals have been sentenced in the United States for participating in a prolonged fraud scheme that defrauded vulnerable elderly victims, according to U.S. authorities. Key Sentences and Penalties Fraud Scheme Operations The defendants collaborated with co-conspirators based in Nigeria to deceive U.S. residents, primarily targeting elderly and vulnerable individuals. Their strategy involved: The […]
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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 […]
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IntroductionIn an exclusive interview with the News Agency of Nigeria (NAN), Mr. Babatunde Olofin, Managing Director of Moniepoint Microfinance Bank, urged Nigerians to prioritize cybersecurity by refraining from publicly sharing their account numbers. With the festive season in full swing, Olofin emphasized the increased risk of falling victim to financial crimes and highlighted preventive measures […]
