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Alleged N2billion Fraud: Nigeria’s Anti-corruption Agency, EFCC Presents More Evidence Against Pilot, Businessman

The trial of Victor Uadiale and Capt. Everest Nnaji before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos for an alleged $5 million (about N2 billion) fraud continued on Monday. The Economic and Financial Crimes Commission (EFCC) presented more evidence against the accused persons –a businessman… Read More

Nigeria’s EFCC going after money launderers in real estate sector

The chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has said the commission would be going all out to investigate money laundering in the real estate sector. The investigation, according to Mr Bawa, will involve parts of Abuja, Lagos State and Port Harcourt,… Read More

Above the Law: How a Wealthy Indian Family Evaded Justice

By Lindita Çela and Ushinor Majumdar, OCCRP, 8 June 2021 OCCRP — On a mild afternoon in March 2019, one of India’s most ostentatiously wealthy families prepared to board their private jet at Albania’s Tirana International Airport. The Sandesaras had been on the run since 2017, when… Read More
1st June 2021
Fear has gripped bank owners and workers nationwide as the demand by the Economic and Financial Crimes Commission for their asset declaration forms takes effect from June 1, 2021. Vanguard recalls that the anti-graft agency had served the warning on the banks on March 16 this year, insisting that from… Read More
31st May 2021
Economists, legal practitioners as well as other professionals and civil society organisations have expressed concerns over the poor management of returned looted funds, especially the money stolen by former Head of State, Gen. Sani Abacha. Disturbed by increasing wave of corruption across the country, despite the much-talked about anti-corruption campaign… Read More
12th May 2021
The UK High Court has ordered JPMorgan Chase to turn over compliance documents ahead of a trial in which the bank stands accused of enabling the misappropriation of $875 million from the government of Nigeria, the Financial Times reported on Tuesday. The decision stems from an… Read More
10th May 2021
The Attorney-General of the Federation (AGF), Abubakar Malami, said on Friday, that ongoing investigations have revealed many highly placed Nigerians and businessmen involved in financing terrorism. Mr Malami, who doubles as the Minister of Justice, said the ‘strongly’ suspected financiers were already being profiled for prosecution. The minister, who… Read More
10th May 2021
JPMorgan Chase & Co. was warned by its compliance team over the “great risk” of corruption just days before it made the last of three transfers that totaled $875 million to a former Nigerian oil minister. The internal memo is set to be scrutinized in a London lawsuit brought… Read More
29th April 2021
Matthew Page, an associate fellow of London-based Chatham House, an international affairs think tank, has advised investigators to focus on real estate and education sectors, when tracking illicit financial flows and money laundering. He gave the advice in a paper he presented entitled, ‘IFFs through the real estate and education… Read More
26th March 2021
The Federal Government tendered three bags of naira and other different types of foreign currencies as evidence in the money laundering trial of a former top officer of the Nigerian Air Force, Umar Mohammed, at the Federal High Court in Abuja on Thursday. Mr Mohammed, a retired air commodore,… Read More
17th March 2021
By Tom Warren, BuzzFeed News, 16 March 2021 BuzzFeed News — It looked like a major windfall for Nigeria’s taxpayers, more than half of whom were living in “absolute poverty.” Two giant energy companies were offering more than $1 billion to drill oil on a strip… Read More
16th March 2021
An Italian energy giant on trial in a $1.1bn (£790m) bribery and corruption case has been granted privileged access to senior EU officials to lobby for fossil fuel investment, an investigation has found. Eni and its chief executive Claudio Descalzi are on trial alongside Royal Dutch Shell in… Read More
16th March 2021
Gardai have described the arrest of a man as “extremely significant” as they aim to dismantle an organised crime gang involved in laundering over €10m of invoice re-direct fraud funds through Irish bank accounts. Detectives found a number of fake ID documents when the suspect was arrested at a property… Read More