Tag Archives: EFCC

Fraud: ​Former President Jonathan’s campaign director forfeits 38 houses

Former President Jonathan’s campaign director forfeits 38 houses


By Yusuf Alli

The Economic and Financial Crimes Commission (EFCC) has traced 38 choice houses to a former Chairman of the Nigerian Social Insurance Trust Fund (NSITF), Dr. Ngozi Olojeme.

Mrs Olojeme, Deputy Chairman of the Finance Committee of the Goodluck Campaign Organisation in 2015, is being investigated by the EFCC for alleged diversion of $48,485,127 from the accounts of the NSITF.

Of N62.3billion fraud discovered in NSITF, $48,485,127 is allegedly credited to Mrs. Olojeme.

The anti- graft agency has secured a court order to place the assets under interim forfeiture, pending Mrs. Olojeme’s trial.


Besides, EFCC has obtained a warrant from the court to detain the suspect for two weeks to complete the first round of the investigation and her arraignment.

Mrs. Olojeme, who is said to have taken ill, is at a private hospital in Abuja where EFCC detectives are keeping an eye on her.

EFCC detectives uncovered 40 houses, 38 of which are believed to be Mrs Olojeme’s.

Of the 38 houses, detectives rated the mansion at No. 51, Kainji Crescent in Maitama, as a “multi-billion naira piece with some foreign leaders occasionally staying there when they come visiting”.

The golden mansion was at the weekend sealed off by the EFCC.

A source, who spoke in confidence, said: “EFCC  recovered over 40 properties out of which 38 belong to the ex-NSITF chairman, including the property at No. 51, Kainji Crescent, off Lake Chad Crescent in Maitama District.

“The Kainji Crescent property is said to have housed some foreign leaders when they came visiting. It is a multi-billion naira mansion.

“We have invoked sections 28 and 34 of the EFCC (Establishment Act) 2004 and Section 13(1) of the Federal High Court Act, 2004, which empower the agency to apply the Interim Assets Forfeiture Clause.”

Section 28 of the EFCC Act reads: “Where a person is arrested for an offence under this Act, the Commission shall immediately trace and attach all the assets and properties of the person acquired as a result of such economic or financial crime and shall thereafter cause to be obtained an interim attachment order from the Court.”

The EFCC source went on: “As I am talking to you, we have placed all the over 40 assets under interim forfeiture based on the approval of our application by the court. The assets will be temporarily forfeited until the end of the trial of all the affected suspects.”

“We have also secured a court order to detain her for two weeks in preparation for Dr. Ngozi Olojeme’s arraignment in connection with the alleged diversion of $48,485,127 from NSITF’s account. We have charges already prepared and we will be arraigning her soon.

“But she sought for medical attention in a private hospital for an undisclosed illness. We accorded her the right to seek medical aid and deployed in detectives and sentry guards to the hospital.”

The EFCC has already arraigned a former Managing Director of NSITF, Umar Munir Abubakar, and four others for alleged diversion of N18billion.

The others are Henry Ekhasomi Sambo, Adebayo Adebowale Aderibigbe, Chief Richard U. Uche and Aderemi Adegboyega.

The cash was said to be the Federal Government’s contribution to the take-off grants and Employees Compensation Scheme (ECS) for Ministries Departments and Agencies (MDAs).

EFCC’s report on preliminary investigation said in part: “That through this process, Dr. Ngozi Olojeme, the then NSITF board chairman, has collected a total sum of $48,485,127 from Mr. Chuka Eze (her account officer at FBN), which cash he collected on her behalf being the dollar equivalent of monies paid to BDCs by NSITF contractors.

“She and others also diverted huge cash allocated for allowances of its staff and compensation to contributors. Detectives actually traced some of the NSITF funds in the personal accounts of Olojeme and the former MD, Umar Abubakar.

“For instance, Abubakar and others dishonestly converted to N18billion, being contribution from the Federal Government of Nigeria as take-off grants and Employees Compensation Scheme (ECS) for MDAs.

“The said sum was diverted into personal accounts by an e-payment mandate jointly signed by Umar Munir Abubakar and Henry Ekhasomi Sambo.”

The report added: “It was discovered that the NSITF accounts in First Bank of Nigeria and other banks have witnessed a total turnover of over N62, 358,401,927 between 2012 and 2015 from the Employee Compensation Scheme contributions.

“That out of the N62bn, the Federal Government contributed N13,600,000,000 while the sum of N48,758,401,927.80 was contributed by the private sector. That there were several payments to individuals and companies from the NSITF bank accounts for purported contracts or consultancy services.

“That some individuals and companies that received these payments, in turn, transferred part of the monies directly to the NSITF officials while others transferred huge sums to bureau de change operators who changed them to dollars.”

Source: The Nation 

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EFCC confirms attack on Magu’s house

EFCC confirms attack on Magu’s house

Ibrahim Magu

The Economic and Financial Crimes Commission (EFCC) has confirmed an attack by unknown gunmen on a property belonging to its Acting Chairman, Mr Ibrahim Magu.

In a statement on Wednesday evening, spokesman of the commission, Mr Wilson Uwujaren, said the attackers murdered a police sergeant guarding the property located in Karshi, a suburb of Abuja.

“The property, a farmhouse located in Karshi, a suburb of Abuja, was attacked by unknown gunmen at about 10 p.m. on Dec. 12, 2017 .

“The unidentified men murdered a police sergeant on duty. The incident was the second such attack on the same farmhouse,” he said.

Wilson said the commission would not speculate on the motive of the attack.

He, however, stated that the EFCC under the leadership of Magu would not be deterred in its mission to rid the country of corruption.

N2.1bn found in Patience’s dead mother’s account

EFCC traces N2.1bn to Patience’s dead mother’s account

Patience Jonathan

Eniola Akinkuotu, Abuja
The Economic and Financial Crimes Commission has traced N2.114bn to the bank account of Magel Resort Limited, which was allegedly owned by Mrs. Patience Jonathan and her late mother, Mama Charity Oba.
According to the EFCC, the total amount of money traced to Mrs. Jonathan is now N17bn.

Patience, the wife of former President Goodluck Jonathan, had, last week, filed a N2bn fundamental human rights suit against the EFCC, accusing the anti-graft agency of subjecting her to psychological trauma, unnecessary persecution and going as far as freezing her late mother’s accounts.
However, an interim report of the EFCC, made available to The PUNCH, accused Mrs. Jonathan of perpetrating fraud through some of her non-governmental organisations.
The report adds that at least N17bn, including funds from some government agencies, were paid into the accounts of Mrs. Jonathan’s NGOs.
The report states, “Another company owned by Mrs Jonathan is Magel Resort Ltd. It was incorporated by Mrs. Jonathan’s late mother. But Patience Jonathan became the sole signatory to the account of the company by board resolution upon the demise of her mother.
“Though registered as a resort agency, sources at the EFCC disclosed that the agency was probing the circumstances in which the firm secured over N200m IT contract from the National Information Technology Development Agency.
“The contract was allegedly bankrolled through the National Information Technology Development Fund. Several other persons under investigation for money laundering by the anti-graft agency were discovered to have made payments into the company’s account including a hotelier in Central Area, Abuja, who has been invited for questioning.
“The total sum allegedly laundered through the account of Magel Resort Limited, owned by Mrs Jonathan and her late mother, is put at N2.114bn.”

The commission alleged that another NGO, owned by Patience, Ariwabai Aruera Reach Out Foundation, had various accounts but the principal account was domiciled at Diamond Bank.
The EFCC said it stumbled on evidence in which several government agencies made payments into the account.
A total inflow of N2.4bn was allegedly recorded in the account between 2009 and 2015.
The commission alleged that some of the NGOs had Patience’s domestic servants as directors.
The report adds, “Investigations equally discovered that Mrs. Jonathan maintains a dollar account with Diamond Bank which received huge financial inflow from her domestic aides.
“Some of the domestic aides that made payments into the accounts are also trustees of her so-called NGO and director in her companies. The balance in the account was $12,831,173.
“Another dollar account of the former First Lady was discovered in Skye Bank. Inflows into the account came through deposits by domestic aides of Mrs. Jonathan. Intelligence reports indicate that most of the purchase of luxury items by the former First Lady was through the Platinum card of the account. The total amount in the account is $7.9m.”
The anti-graft agency said a total of N1.8bn was deposited in the account of Flinchley Top Homes Limited, another company linked to Mrs Jonathan. The money was allegedly deposited by her domestic aides between 2009 and 2015.
The report adds, “Another discovery was the N2.1bn and N1.8bn deposited into the accounts of AM PM Global Network Limited and Pagmat Oil and Gas Limited respectively, between 2009 and 2015. Both companies are linked to the former First Lady.
“Another N1.140bn was also allegedly laundered by Mrs. Jonathan through the account of Lawari Furniture and Baths Limited, whose address is given as 100 Akamfa Road, Yenagoa, Bayelsa State.
“The bulk of the money was deposited by Bureau de Change operators.”
It was learnt that the BDC operators had been invited by the EFCC for questioning.
It was further alleged that the addresses of most of the companies were discovered to be fictitious as mails sent to them were returned undelivered.

In his reaction, the Chief Press Secretary to the former President’s wife, Belema Meshack-Hart, urged the EFCC chairman, Ibrahim Magu, to honour the National Assembly’s invitation rather than engage in media trial.
Meshack-Hart also rubbished allegations that his principal was using her NGOs to perpetrate fraud.
He stated, “I won’t exchange words with them since the matter is in court. The House has invited the EFCC chairman many times but he has refused to honour the invitations. Let him go and tell the National Assembly what he knows.

“However, it is not true that Dame Jonathan used her foundations to launder funds.  The foundations helped over 700 people with heart diseases. “
Source: The Punch

How former chief of Air Staff, others diverted N21b to personal accounts

How ex-Air Chief Amosu, others ‘diverted N21b ’
By Joseph Jibueze
An Economic and Financial Crimes Commission (EFCC) investigation officer, Tosin Owobo, yesterday testified that three former Nigeria  Air Force (NAF) officials allegedly diverted N21 billion to their personal accounts from NAF’s.

He said they diverted the cash through several companies, which they registered personally. None of the companies had any transaction or contract with NAF, he claimed.

Owobo was testifying in the trial of a former Chief of Air Staff, Air Marshal Adesola Amosu (retd), former NAF Chief of Accounts and Budgeting Air Vice Marshal Jacob Adigun and  former Director of Finance and Budget Air Commodore Olugbenga Gbadebo.

They were arraigned before Justice Mohammed Idris of the Federal High Court in Lagos.
EFCC accused them of converting N21billion from NAF through various companies.
The companies are: Delfina Oil and Gas Ltd, Mcallan Oil and Gas Ltd, Hebron Housing and Properties Company Ltd, Trapezites BDC, Fonds and Pricey Ltd, Deegee Oil and Gas Ltd, Timsegg Investment Ltd and Solomon Health Care Ltd.

Led in evidence by prosecution counsel Rotimi Oyedepo, Owobo said N5.9billion was transferred from NAF’s accounts to Delfina Oil and Gas.

He said after the money was converted to dollars, it was  handed over to Gbadebo, who took it to Adigun, who in turn took it to Amosu.

He said Mcallan Oil and Gas received N6.1billion from NAF. Trapezites BDC received N3.6billion.

Owobo said Deegee Oil and Gas received N800million from NAF accounts. Timsegg got the same amount.

“These companies were not into oil and gas. The N21billion was moved from various NAF accounts without appropriation,” he said.

Owobo said Adigun admitted during interrogation that he opened Delfina Oil and Gas’s bank account and ran it and the others.

“There was no contract of memorandum of understanding between Delfina Oil and Gas and NAF,” he said.

The witness said Adigun incorporated Mcallan Oil and Gas and opened its bank account, which he also operated.

“There was no service rendered to NAF by the company,” he said.

Owobo said Deegee Oil and Gas’s bank account, which was also allegedly used to divert funds, was operated by Gbadebo..

“He controlled the account which received funds from NAF. There was no contract or MOU between them, and no service was rendered by Deegee Oil and Gas to NAF.

“Timsegg Investment also belongs to Gbadebo. There was no service rendered by Timsegg to NAF,” he said.

Owobo told the court that Adigun owns Hebron Housing and Properties, which also received funds from NAF, despite not rendering any service to it.

According to him, all the accounts had a single accounts officer, Mrs Funke Osinsanmi, at the bank where they were domiciled.
The EFCC operative said the account officer would receive instructions from Gbadebo, liaise with various Bureaux de Change operators to convert the sums to dollars, and hand them over to Gbadebo and other NAF “bank runners”.
Owobo said the banker introduced the owner of Trapezites BDC to Adigun, who eventually sold the company to him.
“We interviewed Adigun who confirmed to have received dollars from Gbadebo. He said he received instructions from Amosu on what the dollars were to be used for. Some were handed over to him (Amosu).
“We interviewed Amosu and he confirmed to have received dollars from Adigun and that all operations and financial transactions were carried out by his instruction to the director of finance, and that all the withdrawals from the NAF accounts were made via instructions from him,” the witness said.
Owobo said the funds transferred from NAF accounts were not part of the defendants’ salaries or allowances.
“The funds in these company accounts were not their salaries. The funds came from various NAF operations accounts which receive funds from CBN for general operations. These were not their salary accounts,” he said.
Owobo said some of the funds from Hebron Housing and Properties were used to acquire properties for the defendants.
He said a developer, Babatunde Omolehin, of Canon Projects, told EFCC investigators that he met Adigun who informed him that he owned Hebron Housing and Properties.
He (Omolehin) subsequently received N1.4billion from Adigun to develop some properties from him.
Owobo said the properties include 40A Bourdillion Road, Ikoyi, which is of 300 square meters; 12 blocks of flats in Parkview Estate, and another 12 blocks of flats on Victoria Island.
“The properties were not purchased in the name of NAF but by Adigun. He also purchased the properties in Abuja,” he said.
Owobo said over N600million was transferred to a company, Right Option Oil and Gas, for the purchase of two properties in the United Kingdom through Adigun’s brother.
According to him, the company, in turn, transferred about $3million to UK for the properties, which he said were not bought in NAF’s name.
“They were for Amosu and Adigun,” he said.
Owobo testified that N2.1billion was used to purchase diagnostic equipment from General Electric for Solomon Health Care, allegedly owned by Amosu.
He said General Electric confirmed receiving the funds from Solomon Health Care for the equipment, and that the money was transferred from Delfina Oil and Gas.
Owobo said so far over N2billion had been returned to the Federal Government by Amosu. Some properties, he said, have been temporarily forfeited.
The trial continues tomorrow.

Source: The Nation
 
 

EFCC arrests Ekiti commissioner, AG over alleged N7bn bailout scam

Alleged N7bn bailout scam: Ekiti commissioner, AG arrested as Fayose declares presidential bid

Olusola Fabiyi, Kamarudeen Ogundele, Eniola Akinkuotu, Leke Baiyewu and Leye Aluko

The Economic and Financial Crimes Commission has arrested the Ekiti State Commissioner for Finance, Chief Toyin Ojo, and the Accountant General, Mrs. Yemisi Owolabi, for their alleged roles in the diversion of N7bn.
The money was alleged to have been part of the bailout which was paid to the Ekiti State Government by the Federal Government.
READ ALSO: Yerima ‘remarries’ Adeboye, wife on stage
The state was said to have received over N11bn from the Federal Government.
Incidentally, the arrests were made on the same day Governor Ayodele Fayose, formally inaugurated his presidential bid campaign.
The spokesman for the EFCC, Mr. Wilson Uwujaren, told one of our correspondents on the telephone that the suspects had ignored a series of invitations, leaving the commission with no choice but to arrest them.
Uwujaren stated, “The accountant general and the commissioner were invited on several occasions but they refused to honour invitations and they were picked up and the investigation has to do with the misuse of bailout funds.”
The EFCC spokesman also dismissed claims that the Ekiti State Government had obtained a restraining order against the commission.
The Ekiti State Government had last year rejected plans by the Senate to probe how bailouts granted the state to settle salary arrears by the Federal Government were spent.
The Ekiti government had cited the sections of the constitution that said Nigeria’s federal system does not give the Senate the constitutional power to exercise oversight over finances of the states.
The state government’s stance was in reaction to a letter sent by the Senate Committee on State and Local Government Administration, led by Gumel Abubakar.
But Ekiti State, in a November 11, 2016 letter, signed by the Attorney General and Commissioner for Justice, Owoseni Ajayi, faulted the plan by the Senate to probe how the funds were spent.

But in its reaction on Thursday, the Ekiti State Government described the arrest of Ojo and Owolabi by the EFCC as an irresponsible action.
A statement by the Special Assistant to Fayose on Public Communications and New Media, Lere Olayinka, said it was obvious that “the hawks around President Muhammadu Buhari” were afraid of the governor’s declaration for the 2019 presidential election.
“The EFCC is obviously living up to its status as the attack dog of the All Progressives Congress government, but the Ekiti State Government, under Governor Ayodele Fayose, cannot be intimidated.”
Olayinka said the arrest was carried out with a view to embarking on another round of media trial against the governor and his government.
“It is funny that the EFCC, in the bid to carry out its usual hatchet job against Governor Fayose, failed to take into cognisance the subsisting court order, which forbids any official of the Ekiti State Government from being arrested by the EFCC. Up till today, the court order has not been appealed and it subsists.”
The government challenged the EFCC to tell Nigerians what had been done to the loads of petitions written against the immediate past APC government in the state.
Fayose declares for 2019 Presidency, vows to fight graft
Meanwhile, Fayose had, earlier on Thursday, in Abuja, formally declared his intention to contest the 2019 presidential election on the platform of the Peoples Democratic Party.
The governor vowed to defeat Buhari, the incumbent President, in a free and fair contest if he (the President) was picked by the ruling APC.
While saying God had told him that he would lead the country, Fayose promised to fight corruption if elected President.
Describing himself as a rock, he said God had destined him to lead country.
“My party leaders, standing before you is Peter (The Rock) Ayodele Fayose, the man already destined by God to take Nigeria out of the present political and economic stagnation,” he said.
He dismissed the zoning formula of his party, which has zoned its presidential candidate to the North.
Sounding confident, he said he was like the biblical Joseph, stressing that he would become what God had ordained him to be.

He said the days of packaging governors and individuals as president were over, warning against the imposition of unwilling politicians on Nigerians.
“We don’t want packaged governors or president again. This time round, we need a very agile and experienced fellow like me,” he added.
Fayose, who is also the Chairman, PDP Governors’ Forum, said, “My inviting you today, distinguished leaders of our party, is to inform you formally that I will be seeking the ticket of our great party, the PDP, to contest the 2019 presidential election. This is without prejudice to our party’s position.
“However, I’m a supporter of competence and capacity, especially now that this country needs young and able leaders that can take our country out of this present state of hopelessness.”
Admitting that the PDP had zoned the 2019 presidential ticket to the North, the governor stated, “It may interest you that no one has come out in this manner to show interest and our party should not wait or beg anyone to fly its flag. Do we now say that if no one comes out from the North, the party won’t have a candidate?”
He told the leadership of the party that he would not be the first person to defy its zoning arrangements.
Fayose added, “Going down memory lane; in 1999 and 2003, despite that our party zoned the presidency to the South, the likes of Alhaji Abubakar Rimi of blessed memory and Chief Banabas Gemade contested the ticket.
“Also in 2007, some party members from the South did not only declare their intention to contest, they also showed interest and obtained nomination forms. Those from the South were Chief Victor Attah, Dr. Peter Odili, Dr. Sam Egwu, Dr. Donald Duke, Dr. Chimaroke Nnamani and Owelle Rochas Okorocha among others.”
Fayose reminded his audience how he defeated two incumbents in his state, saying nobody should doubt his desire to become the President.
He said, “Twice, I defeated incumbents to become the governor of Ekiti State and I am confident that with your support as my party leaders and supporters, I will defeat the incumbent, President Muhammadu Buhari, in a free and fair election.
“Let me state that in Ekiti, God has used me twice for our party to regain power from the opposition and I believe the same feat will be repeated at the national level.
“I do not stand before Nigerians today to present myself as one with the answers to all our national questions. Rather, I present myself as one with the required knowledge, understanding, competence and, above all, the political will to coordinate the human and material resources that we have in abundance to achieve national greatness.
“Therefore, I can say expressly that I am well equipped in terms of knowledge, experience as well as physical and mental capacities to hit the ground running as soon as I assume office as President of Nigeria in 2019.”
He rolled out what he said his government had been able to perform in his state.
He said, “In Ekiti State, our success story in education is there for all to see. Ekiti State was number 29 in 2014 NECO examinations but within two years, we were able to move the state to number one in 2016 and again in 2017.
“Also in the West African Senior School Certificate Examinations, Ekiti State’s performance, which was 25 per cent in 2014, moved to 74.86 per cent in 2017.
“We were able to revive this sector because we placed our teachers in the driving seat of our policies. We will do the same at the national level because we are mindful of the fact that education is the bedrock of the development of any nation.
“As a governor, I encouraged my children to attend schools here in Nigeria and I have never travelled abroad for medicare. This, I hope to sustain as president of Nigeria by making sure that our schools and health facilities are of international standard.”
Fayose also criticised the Buhari government for alleged poor performance since 2015, when the ruling APC defeated the PDP.
He said, “Today, our country is faced with myriad of problems. Our economy, which was the fastest growing in Africa when our party was in power, has gone comatose with the present managers, who are completely clueless.
“In the area of security, which they leveraged to come to power, despite claims by the government that Boko Haram was technically defeated, Nigerians are being killed by the insurgents while villages are being attacked in the North-East.
“Also, herdsmen are killing Nigerians and destroying farmlands with reckless abandon while kidnapping is now on the rise.
“Most worrisome is the fact that our country is now more divided than ever before with the unity of the country being threatened due to nepotism, religious bigotry and favouritism of the present government.”
Among those in attendance were a former Minister of Aviation, Chief Femi Fani-Kayode; a former Deputy Governor of Osun State, Senator Iyiola Omisore; and the Secretary to the Ekiti State Government, Dr. Modupe Alade.
Kashamu, Nwodo tackle Ekiti governor’s presidential bid
But the lawmaker, representing Ogun East Senatorial District in the National Assembly, Senator Buruji Kashamu, on Thursday, condemned Fayose for inaugurating his presidential campaign ahead of the 2019 elections.
Describing Fayose as a joker and a major destroyer of the PDP, Kashamu called the Ekiti State governor as an ‘alawada’ (Yoruba word for comedian) like Baba Sala.
“Baba Sala is the stage name of veteran Yoruba comic actor, Moses Olaiya.
“He looks like Baba Sala, alawada kerikeri. He is not reliable,” Kashamu said.
The PDP financier said this while speaking to The PUNCH on the telephone on Thursday in reaction to the official declaration of Fayose’s presidential campaign in Abuja.
The lawmaker decried that Fayose, being the Chairman, PDP Governors’ Forum, who could be likened to the ‘president’ of the party, had failed to obey the zoning agreement in the PDP.
Kashamu recalled that Fayose had once proposed to seek another term as
Governor of Ekiti State, but later announced his vice-presidential ambition.
The senator said, “He is a ‘confusionist’ and number one destroyer of the party. How on earth would somebody, who agreed with other party chieftains, that the presidential ticket of the party for 2019 should be zoned to the North, would now turn around to start campaigning for the same ticket as a southerner, and particularly as a south-westerner to the detriment of the national chairmanship ticket of the party already zoned to the area.
“Lovers of our great party and politically-minded Nigerians generally should, by this action of Fayose, see him as the number one destroyer of the party and the most cantankerous politician in the polity who can, at anytime, abuse anybody and go against agreed plans at anytime.”
Also, a member of the Board of Trustees of the PDP, Dr. Okwesilieze Nwodo, said Fayose could not contest in the party’s primary poll for the 2019 presidential election.
Nwodo told the News Agency of Nigeria that PDP’s ideology forbade Fayose and other members from the South from contesting the presidential race in 2019.
He added, “Fayose cannot run and I will tell you my reason. When we formed the PDP, the first battle we fought and won as a party was to zone the presidency to the South.
“Those of us from the South made a case because in the First Republic, the prime minister was from the North; in the Second Republic, the President was from the North, and in the Third Republic, a southerner won and the election was annulled.
“There was no way we could go back to the South and say let’s elect a northerner again without giving the south a slot.
“A decision was taken that the President should come from the South and the chairman of the party to come from the North.
“That was how Solomon Lar became the chairman of the PDP and secretary was zoned to the south; that was how I became the first secretary of the party.”
Nwodo, a former National Chairman of the PDP, said the party would take a decision to ensure that its constitution and ordinances were respected.

He explained that those who tried it in the past failed to achieve their aim.

Corruption: Govt officials diverting money to accounts without BVN –EFCC

Govt officials diverting money to accounts without BVN –EFCC

Eniola Akinkuotu, Abuja

The Acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, says some banks are helping corrupt government officials to operate secret accounts without Bank Verification Numbers.

Magu also lamented the non-compliance with regulations on money laundering and other related offences by some banks and financial institutions.

The EFCC boss said this on Tuesday at a workshop in Lagos titled ‘Money Laundering and Combating the Financing of Terrorism’ organised by the Chartered Institute of Bankers of Nigeria.

Magu, who was represented by the Head of Operations, Lagos Zonal office of the EFCC, Garba Dagum, described money laundering as a threat to developing and developed countries.

He accused banks of not reporting suspicious transactions in line with statutory regulations.

The EFCC boss stated that some bank officials were in the habit of “opening accounts for government officials even after the introduction of the Treasury Single Account, thereby allowing government funds to be diverted.”

He added, “There are several bank accounts that are not linked to BVN and are still active. Some microfinance banks indulge in collecting huge sums of cash for a short fixed term deposit with attractive high interests.”

Magu condemned the activities of some Bureau de Change operators, saying, “Most of them are not licensed and usually do not keep records. You can imagine when $2m cash is given to an unregistered BDC man on the street.”

The EFCC boss, who said the commission had, since the beginning of the year, recorded several convictions for corruption, money laundering, oil pipeline vandalism and related offences, further stated that coordinated national and international steps must be taken to combat the menace of money laundering.

He advocated increased awareness campaigns within the government and private business sector as a counter- measure against money laundering.

Magu added, “Application of penalties, ranging from fines to revocation of licences by regulators, shall send a strong signal to errant banks and other reporting organisations

“Regular review of the legal framework to move with time and accommodate new emerging trends of money laundering is key.”

Source: The Punch

EFCC returns N36 million to school defrauded by bank workers

EFCC returns N36 million to school allegedly defrauded by bank workers

By Matthew Ogune and Favour Bassey, Abuja


• Arrests eight for alleged internet fraud

The Economic and Financial Crimes Commission (EFCC) has returned a sum of N36,186,012 to Mrs. Ifeoma Chukwuogo, proprietress of Jephtah International School, East-West Road, Port Harcourt, Rivers State, as money recovered from three suspected fraudsters, who allegedly diverted the school’s money for their private use.

The suspects include Cyril Ameh Idakwoji, an employee of a new generation bank, who was the account officer of the school; Boma Obama Chisom, who posed as the Customer Relations Officer of the bank and Aderemi Adebayo Moses, who prints fake documents.

Presenting the money to the proprietor, the Port Harcourt Zonal Head of Operations of the EFCC, Mr. Ishaq Salihu, disclosed that apart from the cash recovery, the commission, in the course of investigation, also recovered other suspected proceeds of crime, including a three-bedroom and two two-bedroom bungalows.


He commended the bank for promptly reporting the case. The matter was reported on September 7, after the school’s cheques could not be honored for days.

Salihu explained that at the beginning of every new term, Idakwoji would visit the school to collect fees paid in cash and cheque by parents, and issue deposit slips to the school. Investigations showed that he only lodged the cheques but diverting the cash collected for his personal use. Besides, Idakwoji issued doctored statements of account to the school in a bid to cover up his nefarious actions.

Salihu further disclosed that another accomplice of Idakwoji, Moses, printed fake letterheads of another organization, where he is also the account officer and was using their money to pay Jephtah International School’s workers salaries.

In her response, Chukwuogo thanked the EFCC for its swift response and called on Nigerians to give more support to the commission.

Also, the EFCC has arrested eight suspected Internet fraudsters. The suspects are Samson Olujobi, 28 (a.k.a Mau Rice, Melinda Mcginnis); Abraham Sunday, 32 ( a.k.a. Raymond Dodson); Gabriel Ayo, 25 ( a.k.a. Robert McIntosh, Donald Great); Omotayo Raphael, 25 (a.k.a. Michael Black); Semiu Sunday Olawale, 23 (a.k.a. J. Cabtree); Dafe Onosigho, 27 (a.k.a. Johna Kurz); Ewiolo Elvis, 32 (a.k.a. Morgan Moore), and Usiaka Louis, 22 (a.k.a. Anthony Parker, David Smart, Alfred Norman), were arrested around the Egbeda and Agege areas of Lagos State on August 27, 2017 following intelligence report on their alleged involvement in internet crimes.

The suspects were said to have defrauded their victims of huge sums of money in different currencies posing as Americans in an online dating scam.

Some of the items recovered from the suspects during the raid include six laptop computers, five mobile phones (including two iPhones), one Internet modem and four exotic cars (Toyota Venza, Toyota Corolla, Hyundai and Honda Crosstour).

The suspects will soon be charged to court after investigations are concluded, EFCC said.

Source: The Guardian