EFCC uncovers N6bn loot from state govt’s coffers

The Economic and Financial Crimes Commission (EFCC) said its intelligence unit has unearthed the movement of N6 billion from an unnamed state government coffers. Chairman of the Commission, Abdulrasheed Bawa, who made the disclosure while fielding questions from journalists, yesterday, at a ministerial briefing, organised by the Presidential Communication Team at the presidential villa, Abuja, said the finding was possible because of the determination of the … Continue reading EFCC uncovers N6bn loot from state govt’s coffers

Corruption Undermining Our Revenue-Generating Capacity ― TCN Boss

The Acting Managing Director/CEO of the Transmission Company of Nigeria (TCN), Engr Sule Abdulaziz, on Thursday, said corruption has continued to undermine the revenue-generating capacity of the agency. He made the assertion while inaugurating the Anti-Corruption and Transparency Monitoring Unit (ACTU) in Abuja. According to him, there was a need to check the menace, urging staff of the company to join the fight against corruption. … Continue reading Corruption Undermining Our Revenue-Generating Capacity ― TCN Boss

FG borrowed N1.3tn in four years to subsidise power consumers, firms – World Bank

The Federal Government has borrowed a total of N1.3tn since 2017 to ensure that generation companies and gas suppliers received enough payments to continue generating electricity, the World Bank has said. The bank said this in its ‘Resilience through Reforms’ report. According to the report, the power sector in Nigeria will cost the Federal Government an additional N3.08tn through 2023, if current performance levels and … Continue reading FG borrowed N1.3tn in four years to subsidise power consumers, firms – World Bank

Don’t reassign Abdulrasheed Maina’s case to another judge, EFCC urges Chief Judge

The Economic and Financial Crimes Commission (EFCC) has urged the Chief Judge of the Federal High Court (FHC), Justice John Tsoho, not to reassign Abdulrasheed Maina’s case to another judge. The EFCC also called on Justice Tsoho not to transfer the trial of his son, Faisal, and few other cases which matters had far been heard to a new judge. The News Agency of Nigeria … Continue reading Don’t reassign Abdulrasheed Maina’s case to another judge, EFCC urges Chief Judge

Alleged $9.8m fraud: Court rejects EFCC’s plea to amend charges against ex-NNPC GMD, Yakubu

The Federal High Court, Abuja, on Thursday, dismissed the Economic and Financial Crimes Commission (EFCC)’s request to amend the criminal charge filed against former Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC), Mr Andrew Yakubu. Justice Ahmed Mohammed, in a ruling, held that granting the EFCC’s application would amount to breaching the decision of the appellate court. Justice Mohammed stressed that there was a … Continue reading Alleged $9.8m fraud: Court rejects EFCC’s plea to amend charges against ex-NNPC GMD, Yakubu

EFCC Boss: We’re Probing Illegal N5bn Withdrawal By One State, Says The Agency Has Recovered $100m From INTELS

The Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has said the commission is investigating the withdrawal of over N5 billion from the treasury of one State in the country. Bawa said this Thursday at the media briefing organised by the Presidential Communication Team at the State House, Abuja. The EFCC boss, who declined to disclose the concerned state in order not … Continue reading EFCC Boss: We’re Probing Illegal N5bn Withdrawal By One State, Says The Agency Has Recovered $100m From INTELS

Judge convicts defunct Bank PHB boss, Atuche

…Mr Atuche’s wife, Elizabeth, was, however, discharged and acquitted. Mr. Francis Atuche,  a former managing director of defunct Bank PHB plc has been found guilty of stealing and conspiracy to steal. Atuche was convicted alongside a former chief financial officer of the bank, Ugo Anyanwu. The judge found the bankers guilty of stealing and conspiracy to steal on Wednesday at the Ikeja high court in … Continue reading Judge convicts defunct Bank PHB boss, Atuche

FG approves resumption of FCT land swap scheme

The Federal Executive Council (FEC) has approved the resumption of the Federal Capital Development Authority (FCDA) land swap initiative which was begun under the previous administration. Minister of the Federal Capital Territory (FCT), Mohammed Bello, made the disclosure at the end of Wednesday’s meeting presided over by President Muhammadu Buhari at the presidential villa, Abuja. The initiative worth about N1 trillion under the immediate past … Continue reading FG approves resumption of FCT land swap scheme

EFCC: How We Nabbed Minister Who Bought $37.5 Million Property Illegally

The Chairman of the Economic Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has narrated how a female minister bought a $37.5 million property from a bank and deposited $20m cash. Bawa, who withheld the identity of the suspect, did not also state whether she is a current or former minister. Speaking while featuring on Sunrise Daily, a Channels Television programme, the anti-graft agency boss said resources … Continue reading EFCC: How We Nabbed Minister Who Bought $37.5 Million Property Illegally

Reps query whereabouts of $44 million Ikoyi NIA recovered funds

The House of Representatives on Tuesday raised questions about the whereabouts of the 44 million dollars recovered from the Nigeria Intelligence Agency (NIA) by Economic and Financial Crime Commission (EFCC) in 2017 as the Office of the National Security Adviser said it was not in custody of the money. The Director of Finance and Admin in the Office of the National Security Adviser, Brig. General … Continue reading Reps query whereabouts of $44 million Ikoyi NIA recovered funds