Financial Crime Archives — City Business News

January 20, 2025 No Responses

Alleged 76b, $31.5m Fraud: EFCC Arraigns Ex- AMCON MD, Arik Air MD, Union Bank, Others

The Economic and Financial Crimes Commission (EFCC), on Monday, January 20, 2025, arraigned a former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, current Managing Director of Arik Air, Captain Roy Ilegbodu, and Receiver Manager of...

November 23, 2024 No Responses

EFCC Warns Banks Against Fraudulent Practices

The Economic and Financial Crimes Commission (EFCC) has warned banks against making themselves available as instruments of fraud.The warning was handed down on Friday when the management team of Moniepoint, led by its founder and Group CEO, Tosin Eniolorunda p...

October 22, 2024 No Responses

EFCC Unveils Cybercrime Rapid Response Service

Determined to break the criminal networks and damage associated with internet fraud across the country, the Economic and Financial Crimes Commission, EFCC, on Tuesday, October 22, 2024 unveiled a 24- hour Cybercrime Rapid Response Desk.The unveiling, which was...

January 10, 2024 No Responses

Zenith Bank Explains Annual Report, Emerges Nigeria’s Best Bank at Global Finance Awards

Zenith Bank Plc has announced its audited results for the year ended December 31, 2023, achieving a remarkable triple-digit growth of 125% in gross earnings from NGN945.6 billion reported in 2022 to NGN2.132 trillion in 2023.According to the audited financial....

March 19, 2023 No Responses

EFCC Arrests, Parades 19 For Vote-Buying

The Economic and Financial Crimes Commission (EFCC) on Saturday in Ilorin, Kwara State paraded 19 suspected vote buyers arrested during the Governorship and House of Assembly elections in the state. The Acting Zonal Head of EFCC, Ilorin Zonal Office,...

February 18, 2022 No Responses

CBN Opposes New Money Laundering Laws

The Central Bank of Nigeria on Thursday kicked against plan by the Senate to enact new anti-money laundering laws without required amendments on the existing Money Laundering ( Prevention ) Act 2011. The CBN Governor, Godwin Emefiele, made the position.....

January 15, 2022 No Responses

SON Tackles Cyber Crimes, Hackers With Standardisation

The Standards Organisation of Nigeria (SON) has expressed its commitment to standardise the nation’s Information Technology (IT) sector as part of measures to tackle huge financial losses to cyber-crimes and hackers,. According to reports, Nigeria ...

November 12, 2021 No Responses

EFCC Detains Lucky Igbinedion Over Alleged N1.6b Fraud

The former governor of Edo State, Mr Lucky Igbinedion, is currently being grilled by operatives of the Economic and Financial Crimes Commission, (EFCC) over what a source described as alleged criminal diversion of public funds to the tune of N1.6bn. ...

June 17, 2021 No Responses

Ex-Bank PHB MD Jailed For N25.7b Fraud, Wife Acquitted

An Ikeja High Court on Wednesday night sentenced Francis Atuche, a former Managing Director of the defunct Bank PHB (now Keystone Bank), to six years’ imprisonment for defrauding the bank of N25.7 billion. In a 12-hour judgment, Justice Lateefa Okunnu....

November 10, 2020 No Responses

EFCC Re-Arraigns Ex-NIMASA D-G For Alleged N156.4m Fraud

The Economic and Financial Crime Commission (EFCC) on Monday, re-arraigned a former Director-General of the Nigerian Maritime Administration and Safety Agency, (NIMASA), Haruna Jauro, in a Federal High Court in Lagos for alleged N156.4 million money laundering...

September 15, 2020 No Responses

Union Bank Staff In Court Over Alleged Theft Of N25m From Customers Accounts

A 32-year-old banker with Union Bank Plc, Benjamin Musa, on Tuesday appeared in a Wuse Zone 6 Chief Magistrates’ Court, Abuja, over alleged theft of N25 million. Musa, whose residential address was not given, is charged with three counts...

January 12, 2020 No Responses

Access Bank Refutes Alleged Arrest OF GMD

Access Bank PLC has refuted the alleged arrest of its Group Managing Director, Mr. Herbert Wigwe by the Economic and Financial Crimes Commission (EFCC). The bank, in a statement signed by Sunday Ekwochi, Company Secretary said the Commission had invited...