A recent report by the Auditor-General of the Federation has uncovered financial irregularities totaling over N197.72 billion across various ministries, departments, and agencies (MDAs) in Nigeria. The report, which highlights systemic lapses in financial compliance and procurement processes, focuses on activities between 2020 and 2021. The findings are detailed in the Auditor-General’s Annual Report on Non-Compliance and Internal …
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EFCC arraigns REA director for alleged N223.4m fraud
The Economic and Financial Crimes Commission (EFCC) has arraigned the Director of Human Resources Management of the Rural Electrification Agency (REA), Sulieman Garba Bulkwang, before Justice Joyce Abdulmalik of the Federal High Court, Abuja for fraud. According to a statement on EFCC’s official X page on Friday, Nov. 22, Bulkwang is being prosecuted on a five-count charge bordering on criminal …
Read More »Lagos court sentences oil and gas association chairman to 21 years’ imprisonment for N43.5m fraud
Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on Monday, November 18, 2024, convicted and sentenced Fatuyi Yemi Philips, Chairman, Natural Oil and Gas Suppliers Association of Nigeria, NOGASA, to 21 years imprisonment for N43.5m fraud. The Lagos Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on April 5, 2022, arraigned …
Read More »Rapper NBA Youngboy pleads guilty for his involvement in prescription drug fraud operation
American rapper, NBA YoungBoy has pleaded guilty for his involvement in a prescription drug fraud ring based out of Utah. The 25-year-old rapper, who is still serving 27 months on federal charges, had his case dismissed by Utah 1st District Judge Spencer Walsh on Monday, Nov. 18, KSL reported. Appearing in a Logan City courtroom, Gaulden pleaded guilty to two counts …
Read More »EFCC grants bail to Yahaya Bello?s co-defendants over alleged N110.4b fraud
The Economic and Financial Crimes Commission (EFCC) has granted administrative bail to Umar Oricha and Abdulsalami Hudu, co-defendants in the case against former Kogi State Governor, Yahaya Bello, who faces allegations of diverting state funds totaling N110.4 billion. The EFCC filed a 16-count charge against Bello, Oricha, and Hudu, alleging a criminal breach of trust involving state finances. During …
Read More »EFCC arrests former NCDMB boss Wabote over $35m Brass project fraud scandal
The Economic and Financial Crimes Commission (EFCC) has arrested Timber Kesiye Wabote, the former Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), over allegations of misappropriating $35 million in public funds linked to the failed Brass Project in Bayelsa State. Wabote’s arrest follows the earlier detention of Akintoye Adeoye Akindele, the Managing Director of Atlantic International …
Read More »FBI reportedly arrests newly elected Anambra LGA Chairman over romance fraud totaling over $3.3million
Franklin Ikechukwu Nwadialo, the newly elected chairman of Ogbaru Local Government Area (LGA) in Anambra State, Nigeria, was arrested on arrival at an airport in Texas, U.S., on Friday, following an indictment linked to a multi-million-dollar romance fraud scheme. The 40-year-old Nigerian national faces 14 counts of wire fraud after allegedly defrauding victims out of more than $3.3 million. …
Read More »Nigerian national arrested on arrival in U.S for multi-million-dollar romance fraud
A 40-year-old Nigerian national, Franklin Ikechukwu Nwadialo, was arrested upon his arrival at an airport in Texas, the United States of America on an indictment for multi-million-dollar romance fraud. Unconfirmed reports say that Nwadialo is a newly elected Local Government chairman however, LIB cannot confirm this at the time of filing this report. The United States Department of …
Read More »Nigerian man on FBI cyber?s most wanted list sentenced to 45 months imprisonment in US over $6m wire fraud
A 41-year-old Nigerian national, Alex Ogunshakin, has been sentenced in federal court in Omaha, Nebraska, the United States for stealing more than $6 million in a wire fraud scheme that victimized two businesses. United States Attorney Susan Lehr announced that Senior US District John M. Gerrard sentenced Ogunshakin to a total of 45 months’ imprisonment on October 31, 2024 …
Read More »N1.3tn fraud: Okowa spends second night in EFCC custody
Former Delta State governor, Ifeanyi Okowa, remains in the Economic and Financial Crimes Commission (EFCC) custody in Port Harcourt, Rivers State, marking his second night detained by the anti-corruption agency. Okowa, who served as the running mate to the People’s Democratic Party presidential candidate Atiku Abubakar in the 2023 election, is under investigation over alleged misappropriation of N1.3 trillion in …
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