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CBN debunks arrest report on Deputy Governor

BY NKECHI NAECHE —–The apex bank, the Central Bank of Nigeria (CBN) has faulted report in one of the national dailies, that one of its Deputy Governors was arrested and made to forfeit some amount of money to the Economic and Financial Crimes Commission (EFCC). The CBN made its stand ...

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EFCC Recovered N409bn, $69.5m in eight months – Magu

The Economic and Financial Crimes Commission (EFCC) says it has recovered about N409 billion and secured 137 convictions nationwide between January and August 2017. The acting chairman of the anti-graft agency, Mr Ibrahim Magu, made the disclosure on Wednesday at an interactive meeting with media executives in Abuja, Nigeria’s capital. ...

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FG begins probe of contractors tax records

As part of efforts to improve tax compliance levels, the Federal Government has commenced reviewing the tax compliance records of all contractors who received payments from the Federal Government and its various agencies in the last 7 years. This follows the results of a sampling exercise conducted by the Ministry ...

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Heritage Bank MD, Others not Involved in N13Billion Fraud

Our attention has been drawn to Sunday Punch Newspaper and other online news (Sunday 27th August) report of an alleged N13billion fraud involving the Managing Director and other staff members of the bank of funds belonging to the Oyo State government. The Management will want to categorically and unequivocally state ...

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Osinbajo Says FG Working with US Government on Repatriation of Corruption Proc

The Buhari administration has reached out to the US government to step up its assistance in ensuring that corrupt officials don’t get a safe haven abroad for their loot, according to Vice President Yemi Osinbajo, SAN. The Vice President, who made the call today during the visit of a US ...

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DIEZANI ALISON-MADUEKE: What an Appetite!

Mrs. Diezani Alison-Madueke       TONY ORILADE/AISHAH GAMBARI—-N47.2 Billion and $487.5 Million in cash and properties have so far been traced to the former Minister of Petroleum Resources in the Ex-President Goodluck Jonathan’s administration, Mrs. Diezani Alison-Madueke. This followed painstaking investigations by operatives of Nigeria’s Economic and Financial Crimes ...

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EFCC recovers N328.9b from NNPC retails, Oando, Total, Mobil, others

The Economic and Financial Crimes Commission (EFCC) has recovered a total sum of N328, 988,296,990.62 from NNPC retails, Oando Plc, Mobil Plc, Conoil Plc, Total Plc, OVH Energy Plc, Forte Oil and Gas Plc, MRS Oil Plc and NIPCO Oil Plc. According to EFCC, the recovery followed a petition against ...

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Heritage Bank debunks involvement in N150 million fraud

    Heritage Bank has debunked speculations of it staff involved in N150 million fraud in collusion with two MTN’s staff. According to statement signed by management of the bank said, “Our attention has been brought to the report published by an online news blog, Per Second News, in which it ...

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FG To Sanction Banks aiding looters

Ag President, Prof Yemi Osinbajo Acting President Yemi Osinbajo on yesterday called for sanctions against banks aiding looting of funds from one country to another. He made the call during the Conference on Promoting International Co-operation in Combating Illicit Financial Flow and Enhancing Asset Recovery to Foster Sustainable Development at ...

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Dangote raises fraud alert on “Happy World Meal Gate”

  The Dangote Group has raised alarm over a Ponzi scheme in circulation alleging partnership between the “Dangote brand, Nestle, Cussons and other reputable food processing companies” in launching a multi-level marketing initiative that intends to “fight hunger, poverty and stop recession” by paying participants in food. Contrary to the ...

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