Category: Money

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EFCC urges court not to vacate order against Maina

The Economic and Financial Crimes Commission (EFCC), on Wednesday, urged the Federal High Court, Abuja not to set aside its order of Nov. 18, 2020 against Abdulrasheed Maina, former Chairman, defunct Pension Reformed Task force Team (PRTT). Counsel to the EFCC, Mohammed Abubakar, told Justice Okon Abang to reject Maina’s request on the ground that it was made to delay justice in his trial. The … Continue reading EFCC urges court not to vacate order against Maina

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EFCC has powers to probe unexplained wealth – Bawa

The just confirmed chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, Wednesday said that the Commission has powers to investigate “unexplained wealth.” Bawa gave this indication while answering questions from Senators during his screening by the Senate in a Committee of the Whole during plenary presided over by Senate President Ahmad Lawan. This happened even as the Senate confirmed the nomination of … Continue reading EFCC has powers to probe unexplained wealth – Bawa

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Court Adjourns Air Marshal Dikko’s Trial Till April 28

…strikes of six of the charges filed against him Justice Nnamdi Dimgba of the Federal High Court sitting in Abuja today adjourned the trail of a former Chief of Air Staff, Air Marshal Mohammed Umar Dikko (retd) till April 28 and 29, 2021 when the defendant is expected to open his defense on one of seven counts of money laundering preferred against him by the … Continue reading Court Adjourns Air Marshal Dikko’s Trial Till April 28

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How Akingbola Bypassed Protocols to Transfer Fund Offshore – Witness

The ongoing trial of Erastus Akingbola, a former Group Managing Director of the defunct Intercontinental Bank, continued on February 19, 2021 before Justice A.O. Faji of a Federal High Court, Ikoyi, Lagos with a witness of the Economic and Financial Crimes Commission, EFCC, Babatunde Aro, narrating how the defendant allegedly bypassed banking protocols to transfer $11.8million and £8.54million offshore without recourse to the bank’s standard … Continue reading How Akingbola Bypassed Protocols to Transfer Fund Offshore – Witness

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Virtual Assets, Cryptocurrencies Risky for Nigeria – ICPC Boss

The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Prof. Bolaji Owasanoye, SAN, on Tuesday said virtual assets and cryptocurrencies are risky for implementation in Nigeria. Prof. Owasanoye made this known in his presentation to the Senate Committee on Banking, Insurance and Other Financial Institutions during its hearing on the Central Bank of Nigeria’s decision to stop financial institutions from transacting … Continue reading Virtual Assets, Cryptocurrencies Risky for Nigeria – ICPC Boss

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N700m Loot: EFCC Tenders Evidence against Former Kaduna Gov., Yero

The trial of a former governor of Kaduna State, Muktar Ramalan Yero, before Justice Z. B. Abubakar of the Federal High Court sitting in Kaduna continued on Tuesday, February 23, 2021 with the tendering of evidence by the first prosecution witness (PW1), Jonah Abimaje. Yero is being prosecuted by the Kaduna Zonal Office of the Economic and Financial Crimes Commission, EFCC, over his alleged involvement … Continue reading N700m Loot: EFCC Tenders Evidence against Former Kaduna Gov., Yero

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Nigerian lawmakers to empower states to determine minimum wage

A bill seeking to amend the 1999 constitution to allow states to determine minimum wage has scaled second reading in the House of Representatives. The House on Tuesday debated the bill and passed it for second reading amidst opposition. The sponsor of the bill, Datti Garba, from Kaduna State, said the bill is part of the devolution of powers, which allows states to determine minimum … Continue reading Nigerian lawmakers to empower states to determine minimum wage

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Senate orders probe of $20m Safe School Initiative fund

The Senate has mandated the Committees on Education (Basic and Secondary), and Tertiary Institutions and TETFUND to investigate the utilization of over $20 million (USD) funding proposed and budgeted for the initiative over the years. The investigation would also cover all monies donated by foreign governments and agencies to the initiative. This formed part of resolutions reached during plenary on Tuesday after the Senate considered … Continue reading Senate orders probe of $20m Safe School Initiative fund

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Alleged 26m Fraud: EFCC Presents Third Witness against Fani-Kayode

The trial of a former Aviation Minister, Femi Fani-Kayode before Justice John Tsoho of a Federal High Court sitting in Abuja continued today, Tuesday February 23, 2021 with the testimony of Mohammed Goji, the third prosecution witness, PW3. While being led in evidence by prosecuting counsel Faruk Abdullahi, the witness who is an Operative of the Economic and Financial Crimes Commission, EFCC narrated how during … Continue reading Alleged 26m Fraud: EFCC Presents Third Witness against Fani-Kayode

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NASS leadership meets Finance Minister to appraise 2020 budget performance

The leadership of the National Assembly on Monday met the Minister of Finance, Zainab Ahmed, and her team to appraise the performance of the capital component of the 2020 budget which is expected to run till the end of March this year. President of the Senate, Ahmad Lawan and Speaker of the House of Representatives, Rt.Hon. Femi Gbajabiamila led other principal officers of both Chambers … Continue reading NASS leadership meets Finance Minister to appraise 2020 budget performance

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