N-Power Funds: Why We Invited ICPC For Probe – FG

A file photo of the Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Farouq.

 

The Federal Government on Wednesday said it invited the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to unravel cases of fund diversion associated with the N-Power Programme.

N-Power is a scheme set up by President Muhammadu Buhari on June 8, 2016, to address the issues of youth unemployment and help increase social development.

In a statement, the Permanent Secretary, Ministry of Humanitarian Affairs, Dr Nasir Sani-Gwarzo, said there has been some discrepancies in the payment processes of N-Power beneficiaries.

READ ALSO: ICPC Detains D’Banj Over Alleged Diversion Of N-Power Funds

He said the sharp practices were carried out by some personnel of the Payment Service Provider (PSP), hence the need to invite the anti-graft agency for a thorough probe.

“When it came to our notice that there may have been some sharp practices by some personnel of the Payment Service Provider involved in the payment processes of beneficiaries, the matter was immediately referred to ICPC for a thorough investigation,” the statement read.

“We are aware that certain persons have consequently been invited for interrogation as part of the ongoing investigations.”

The perm sec also pledged the Federal Government’s transparency and accountability in the N-Power and other National Social Investment Programmes.

In doing this, he said the Ministry has engaged other government’s Ministries, Departments and Agencies, security agencies and civil society organisations in monitoring and compliance checks across the 36 states and the FCT.

While urging beneficiaries to apply themselves to their utmost at their Places of Primary Assignments, he assured that the government will continue paying their monthly stipends as expected.

Sani-Gwarzo also called on the public to report cases of irregularities regarding the programme through any of the following channels: [email protected] or [email protected] or call 07030859183

Trump Organization Convicted Of Tax Fraud In New York

In this file photo taken on November 26, 2020 US President Donald Trump speaks to reporters after participating in a Thanksgiving teleconference with members of the United States Military, at the White House in Washington, DC. (Photo by Andrew CABALLERO-REYNOLDS / AFP)
In this file photo taken on November 26, 2020 US President Donald Trump speaks to reporters after participating in a Thanksgiving teleconference with members of the United States Military, at the White House in Washington, DC. (Photo by Andrew CABALLERO-REYNOLDS / AFP)

 

 

Donald Trump’s family business was found guilty of tax fraud by a New York jury Tuesday, dealing a blow to the ex-president as he eyes the White House again.

The Trump Organization and separate entity the Trump Payroll Corp were found guilty on all counts, marking the first time the companies had ever been convicted of crimes.

“This was a case about greed and cheating,” said Manhattan District Attorney Alvin Bragg, who prosecuted the case.

Trump himself was not charged but the fact the sprawling real-estate, hotel and golf business that bears his name is now a convicted felon is likely to inflict damage to his reputation as he seeks the Republican nomination for the presidency in 2024.

The two entities were convicted of running a 13-year-scheme to defraud and evade taxes by falsifying business records. In all, they were found guilty on 17 counts.

Jurors agreed with prosecutors that the Trump Organization — currently run by Trump’s two adult sons, Donald Jr and Eric Trump — hid compensation it paid to top executives between 2005 and 2021.

Longtime CFO Allen Weisselberg, had already pleaded guilty to 15 counts of tax fraud, and testified against his former company as part of a plea bargain. He did not implicate Trump during the trial.

A close friend of the Trump family, the 75-year-old Weisselberg admitted he schemed with the company to receive undeclared benefits such as a rent-free apartment in a posh Manhattan neighborhood, luxury cars for him and his wife and private school tuition for his grandchildren.

According to his plea deal, Weisselberg agreed to pay nearly $2 million in fines and penalties and complete a five-month prison sentence in exchange for testimony during the trial, which started in October.

Trump, posting on his social media platform, said the Trump Organization bore no responsibility for “Weisselberg committing tax fraud on his personal tax returns.”

Under the headline “Manhattan Witch Hunt!” Trump said no benefit accrued to the company from Weisselberg’s actions, and that neither he nor any employees were “allowed to legally view” the CFO’s returns.

Trump said he was “disappointed with the verdict” and will appeal.

Rape case

Trump’s company faces a fine of around $1.5 million, a paltry sum to the billionaire real estate developer.

It’s symbolic though as he battles a host of legal and congressional probes that will likely complicate his run for a second presidential term, announced in Florida last month.

Trump and his three eldest children face a trial late next year in a civil lawsuit by New York’s attorney general that accuses them of misstating the value of properties to enrich themselves.

Prosecutor Letitia James has requested that Trump pay at least $250 million in penalties — a sum she says he made from the fraud — and that his family be banned from running businesses in the state.

James, a Democrat, hailed Tuesday’s verdict.

“We can have no tolerance for individuals or organizations that violate our laws to line their pockets,” she said.

Trump has been ordered to testify in April 2023 as part of a defamation lawsuit brought by a woman who says he raped her in the 1990s.

He is also facing legal scrutiny for his efforts to overturn the results of the November 2020 election and over the January 6, 2021 attack on the US Capitol by his supporters.

Bankman-Fried Apologises, Says Didn’t ‘Try To Commit Fraud’

FTX founder Sam Bankman-Fried speaks during the New York Times DealBook Summit in the Appel Room at the Jazz At Lincoln Center on November 30, 2022 in New York City. (Photo by Michael M. Santiago / GETTY IMAGES NORTH AMERICA / Getty Images via AFP)

 

Former FTX Chief Executive Sam Bankman-Fried apologized Wednesday for a “lot of mistakes” in the abrupt collapse of the cryptocurrency firm and said he did not knowingly behave fraudulently.

“I didn’t ever try to commit fraud on anyone,” Bankman-Fried told the Dealbook conference hosted by CNBC and The New York Times.

“I’m deeply sorry about what happened,” Bankman-Fried said. “Clearly I made a lot of mistakes or things I would be able to give anything to be able to do over again.”

READ ALSO: Lights Go Out on Hungary Stadiums, Theatres As Energy Crisis Bites

Bankman-Fried, appearing by video from the Bahamas and donning his trademark t-shirt, said he was “shocked” by many of the details that have surfaced amid the cryptocurrency platform’s collapse, depicting the problems as stemming from lax oversight and corporate controls rather than an intent to defraud.

On November 11, Bankman-Fried resigned as FTX filed for bankruptcy protection while facing a large financing shortfall and a deluge of withdrawals from panicked customers. The firm at its peak had been worth some $32 billion.

At the time, FTX had taken some $10 billion in customer funds without authorization, according to the Wall Street Journal.

Much attention has focused on the relationship between FTX and Alameda Research, an affiliated trading firm.

Bankman-Fried acknowledged an “embarrassing” lack of attention to conflicts of interest between the two firms, but insisted that he was not abreast of the details on Alameda and did not run Alameda.

Thought no ‘existential’ risk

Among the revelations, the digital currency news site CoinDesk reported on November 2 that Alameda’s balance sheet was heavily built on FTT — a token created by FTX and not based on an asset with independent value.

The value of FTT plunged in early November as both Alameda and FTX cratered and has not recovered.

Bankman-Fried said that he was also surprised at the scale of Alameda’s positions on FTX that were troubled and which ultimately stressed the firm.

“I didn’t think it was existential for FTX,” Bankman-Fried said of Alameda’s financial stress, adding that he thought the problem would “end up having some small impact on FTX, but not a significant one, not one that hurt customers at all.”

Bankman-Fried said he didn’t knowingly “comingle” funds between the two firms.

FTX’s newly installed CEO John J. Ray has lambasted his predecessors in a November 17 filing in bankruptcy court.

“Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here,” Ray said in the filing.

“From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented,” he said.

Bankman-Fried on Wednesday said he was not aware that he was the subject of a criminal probe, adding that he rejected his lawyer’s advice to stay silent now.

“I have a duty to explain what happened,” he said. “And I think I have a duty … if there is anything I can do to try and help customers out here.”

Bankman-Fried suggested US investors in FTX could recover their losses, but did not explain how this might happen.

Alleged N544m Fraud: Court Discharges, Acquits Ex-SGF, Babachir Lawal

Mr Babachir Lawal

 

A Federal Capital Territory High Court has discharged and acquitted a former Secretary to the Government of the Federation, Mr Babachir Lawal and five others from the N544M Contract Fraud offence brought against them by the Economic and Financial Crimes Commission (EFCC).

The Court held that the anti-graft agency failed to establish a case against the Ex-SGF and the co-defendants.

Ruling on a no-case submission made by Babachir Lawal, Justice Charles Agbaza held that the EFCC said that no ingredients of any offence was made out by the 11 witnesses that testified for the EFCC.


READ ALSO: Usifo Ataga’s Murder: Chidinma Claims Police Forced Her To Sign Confessional Statements


The judge held that EFCC did not establish that Babachir Lawal was either a member of the Presidential Initiative for North East that awarded the contract, or a member of the Ministerial Tenders Board that vetted and gave approval to the disputed contract.

Besides, Justice Agbaza held that EFCC also failed to link Babachir Lawal with the Bureau of Public Procurement BPP that issued a certificate of no objection to the contract before it was awarded.

The judge discharged and acquitted all the defendants in the 10-count criminal charges against them for want of evidence to link them with the purported offences.

Babachir Lawal alongside his younger brother, Hamidu Lawal; Suleiman Abubakar; Apeh Monday and two companies, were prosecuted by the EFCC before Justice Charles Agbaza.

They faced a 10-count charge bordering on fraud relating to the removal of evasive plant species to the tune of N544 million for which they pleaded not guilty.

The EFCC had on Monday, November 30, 2020 re-arraigned the former Secretary to the Government of the Federation, Babachir Lawal before Justice Agbaza.

Court Dismisses Maina’s Suit Against Interior Minister, Others

A file photo of Mr Abdulrasheed Maina

 

Justice Inyang Ekwo of the Federal High Court Abuja has dismissed a suit filed by Abdulrasheed Maina against the Minister of Interior, Rauf Aregbesola, and the Controller General Nigeria Correctional Service, Haliru Nababa, over his alleged ill health.

Delivering judgement, Justice Ekwo, held that Maina had not provided any compelling evidence to prove that the minister and the CG had infringed on any of his basic rights as provided by the law while in their custody.

The judge considered Maina’s application as a ruse and an attempt to belittle the essence of criminal conviction and to aid Maina to live above the law.

READ ALSO: I Did My Little As Anambra Gov, Soludo Should Do More As A Professor – Peter Obi

Justice Ekwo dismissed his application for lack of merit.

Maina, a former Chairman, of the defunct Pension Reform Task Team (PRTT), had on Oct. 17, filed a motion ex-parte seeking urgent medical attention as he is suffering from a life-threatening disease.

The ex-pension reform boss prayed to the court for an interim order directing the minister and the CG, via their staff or agents, to immediately take him to a reputable and recognised hospital for treatment of his life-threatening diseases pending the hearing and determination of his originating motion.

Maina is currently serving an eight-year jail term at the Kuje Correctional Centre Abuja for pension fraud to the tune of N2 billion.

 

 

Alleged N15bn Fraud: Ex-Gulf Bank MD, Others’ Prosecution Stalled By Legal Representation Dispute 

A file photo of a court gavel.
A file photo of a court gavel.

 

A conflict over legal representation of prosecuting counsel on Wednesday stalled the scheduled re-arraignment of the former Managing Director of the defunct Gulf Bank Plc, Prince Johnson Adekunle Adeyeba, and others over an alleged N15, 761,176.24 billion fraud.

A foremost prosecutor with the Economic & Financial Crimea Commission (EFCC) Senior Advocate of Nigeria, Rotimi Jacobs, who announced his appearance for the prosecution before Justice Daniel Osiagor of the Federal High Court, Lagos said it has been stalled owing to conflicts over legal representation of the prosecuting counsel.

After he took his seat, another lawyer, Vivian Aibagbon, a Principal State Counsel, from the office of the Attorney-General of the Federation (AGF), also announced her appearance as a prosecutor for the same case.

This caused some kind of confusion. But Mr Jacobs told the court that he was in his office a few days ago when he received the ‘fiat’ issued from the AGF’s office to prosecute the matter.

The state counsel also told the court that she was sent from the AGF’s office to request a two weeks adjournment, to enable the office to review the charge against the defendants and to determine the next step to take.

READ ALSO: [Kaduna Central] Court Nullifies PDP Primary, Orders Fresh Election Within 14 Days

Following the development, he asked the court for an adjournment to enable the prosecution put its house in order.

By the agreement of all parties, Justice Osiagor adjourned till February 2 for the arraignment of all the defendants in the charge.

The defendants, Prince Adeyeba, a Briton, Gareth Marvyn Wilcox, the Managing Director of Ibom Power Company; and a lawyer, Mr. Uche Uwechia, who was the former Legal Advisor to the defunct Gulf Bank Plc, and others were brought before the court on the alleged N15bn fraud.

The others are Babajide Rogers; Ignatius Ukpaka; John Ezugwu and three Limited liability companies: Ibom Power Company; Lyk Engineering Company and Taurus Shelters Limited.

They were alleged to have between April 1, 2001; December 24, 2002; August 8, 2003, and some other dates, fraudulently used their various positions to convert the sum of N15, 761,176.24 to fund their private businesses.

The defendants were alleged to have also used their positions to defraud the defunct bank of the said amount to fund the Briton’s companies, while the two of them were also alleged to have used the money to purchase a vessel and finance a none existing refinery.

Prince Adeyeba was specifically alleged to have also fraudulently converted to his personal property, two lands at Plot 22 and 23 Zone K, Federal Government Layout, Banana Island, Lagos, with Certificate of Occupancy numbers: 27/27/96 and 7/7/96 dated 20 June 2003, belonging to the defunct bank.

The lawyer, Mr. Uche Uwechia, was alleged to have aided the former bank manager to convert the said lands to his personal properties. The value of the land is estimated to be N600 million.

The offences according to the AGF are contrary to sections 15(1)(c) (2) and (3) of the failed banks (recovery of debt) and financial malpractices in banks act Cap F2,2010 and punishable under section 16(1), (2),18(1)(2) and 19(4)of the failed banks (recovery of debt and Financial Malpractices.

The defendants were first arraigned before Justice Ibrahim Yunusa, sometime in 2020, on a 21-count charge of conspiracy, fraud, and illegal conversion of funds of the sum of N15, 761, 176. 24 billion.

Following the compulsory retirement of Justice Yunusa from the Bench, the defendants’ charge was transferred to Justice Rilwan Aikawa.

When Justice Aikawa was transferred to another division of the court, Justice Osiagor inherited the case file.

Neymar Trial Wraps Up In Spain After Prosecutors Drop Charges

Paris Saint-Germain's Brazilian forward Neymar looks on during the UEFA Champions League group H football match between Paris Saint-Germain (PSG) and Istanbul Basaksehir FK at the Parc des Princes stadium in Paris, on December 9, 2020. FRANCK FIFE / AFP
File photo of Paris Saint-Germain’s Brazilian forward Neymar.            FRANCK FIFE / AFP

 

Brazilian superstar, Neymar’s trial in Spain over his transfer to Barcelona in 2013 is expected to wrap up Monday after Spanish prosecutors last week dropped their fraud charges against the player.

The 30-year-old and the eight other defendants — including his parents who manage his affairs and two former Barca presidents — will be allowed to make closing arguments to the Barcelona court.

Neymar, who now plays for Paris Saint-Germain who on Wednesday face Juventus in the Champions League, and his parents have been granted permission by the court to testify via videoconference.

Spanish prosecutors had been seeking a two-year prison term and a fine of 10 million euros ($9.9 million) for Neymar, a key member of the Brazil team that will be heading to the World Cup in Qatar in November.

But in a surprise move, the state prosecutor withdrew all criminal charges against Neymar and the rest of the accused, arguing there was not enough evidence presented in court that a crime had been committed.

The trial is continuing however because Brazilian investment company DIS, which jointly brought the case, has maintained its accusation that the parties committed fraud and corruption.

The case centres on Neymar’s high-profile transfer from Santos, the Brazilian club where he rose to global prominence, to Barcelona nearly a decade ago.

DIS, owned by the founders of a supermarket chain, had a 40 percent stake in Neymar’s sporting rights at the time of his move to Europe.

In a 2015 complaint filed by DIS in Spain, the firm claims that Neymar, Barcelona and the Brazilian club colluded to mask the true cost of his transfer thereby defrauding it of its legitimate financial interests.

Barca said the transfer was valued at 57.1 million euros, with 40 million euros paid to a company called N&N which manages Neymar’s affairs and 17.1 million to Santos, of which 6.8 million was given to DIS.

Spanish prosecutors have said they believe the actual value was at least 83 million euros.

DIS is seeking to recover 35 million euros.

Neymar told the court on the second day of his trial on October 18 that he did not remember if he took part in the negotiations over his transfer to Barca, and that he only signed documents presented to him by his father.

“My father has always been in charge,” he said in court. “I sign what he tells me to.”

All of the other defendants, including former Barca presidents Josep Maria Bartomeu and Sandro Rosell, also deny any wrongdoing.

State prosecutor Luis Garcia suggested that the proper forum for the claims made by DIS was a civil court, which deals with disputes between people or organisations.

“DIS has the right to feel that Neymar’s transfer should have given greater profit, but I think it has picked the wrong jurisdiction,” he told the court on Friday when he announced he was dropping charges.

The court is expected to give its ruling in several weeks.

AFP

Court Convicts ‘Mama Boko Haram’, Others Over N34m Fraud  

A court gavel

 

The Borno State High Court in Maiduguri has convicted and sentenced, Aisha Alkali-Wakil, also known as Mama Boko Haram, as well as one Tahiru Saidu-Daura and Lawal Shoyode to seven years imprisonment.

They were prosecuted by the Maiduguri Zonal Command of the Economic and Financial Crimes Commission (EFCC) on a three-count charge of conspiracy and cheating to the tune of N34,593,000.

In a statement, EFCC spokesman, Wilson Uwujaren, said Justice Aisha Kumaliya delivered the judgment on Monday, where she found the defendants guilty on the three counts.

READ ALSO: Commuters Stranded As Fuel Queues Resurface In Lagos

“Delivering judgment today, Justice Kumaliya found the defendants guilty on the three counts and convicted them accordingly,” the statement read.

“On count one for the offence of conspiracy, the court hereby sentences you, Aisha Alkali-Wakil, Tahiru Saidu Daura, and Prince Lawal Shoyode to five years imprisonment each without an option of fine.

“While on count two and three of the charge, Aisha Alkali-Wakil and Tahiru Saidu Daura are to go to prison for seven years each without an option of fine.”

According to the EFCC spokesman, the court ordered Wakil to pay the sum of N25,805,000 or to go to prison for seven years, while Daura was ordered to pay the sum of N8, 788,000 or to go to jail for seven years.

“Wakil and Daura are to jointly pay the sum of N 7,184,250 for the items supplied to their office or go to jail for three years each,” Uwujaren added.

Ekiti Laundryman Jailed Three Years For Internet Fraud In Kwara

 

Justice Muhammed Sani of the Federal High Court sitting in Ilorin on Thursday, October 20, 2022, sentenced one Fapohunda Paul Olasunkanmi, a laundry man from Ado-Ekiti, Ekiti State to three years imprisonment for internet fraud related offences.

Fapohunda, 23, was arrested in Ado-Ekiti by operatives of the Ilorin Zonal Command of the Economic and Financial Crimes Commission, EFCC on April 26, 2022 with one iPhone 6, MacBook Apple Air Laptop and Mercedes CLA 250, was found to be engaged in dating scam, posing to be a white man named Ethan Jones from America to defraud unsuspecting victims.


READ ALSO: Fake EFCC Operative Arrested For Defrauding Belgian €45,000


He also used fraudulent email accounts for other nefarious acts including picker through bitcoins, cashapp and gift cards.

The convict was found to be in control of N92million believed to be proceeds of illegal activities between August 2021 and April 2022.

He pleaded guilty to a one count charge.

INTERPOL Arrests Over 70 Suspected Fraudsters Linked To Black Axe Cult In Nigeria

 

Over 70 suspected cyber fraudsters have been apprehended by operatives of the International Criminal Police Organization, following a coordinated operation, which the INTERPOL says confirms the global footprint of Nigeria’s Black Axe and similar organized crime groups.

In its latest statement regarding the recent crackdown on West-African financial crime rings, the INTERPOL said in the codenamed Operation Jackal, the joint law enforcement effort mobilized 14 countries across four continents in a targeted strike against Black Axe and related West-African criminal organizations.

According to the communique, Operation Jackal marks the first time INTERPOL has coordinated a global operation specifically against Black Axe, which is rapidly becoming a major security threat worldwide.


READ ALSO: PHOTOS: NDLEA, Interpol Sign MoU On Access To Global Criminal Data Records


Behind the headlines that emerged earlier this month on the arrest of two suspected online scammers in South Africa lies a global police operation coordinated by INTERPOL.

Black Axe and similar groups are responsible for the majority of the world’s cyber-enabled financial fraud as well as many other serious crimes, according to evidence analyzed by INTERPOL’s Financial Crime and Anti-Corruption Centre (IFCACC) and national law enforcement.

In South Africa alone, the two suspects arrested were wanted for online scams that extracted USD 1.8 million from victims.



The immense quantity of assets seized, including 12,000 SIM cards, have provided new investigative leads for law enforcement.

Lifeblood of organized crime

Over one coordinated ‘action week’ (26-30 September), police worldwide launched enforcement operations against individuals linked to the Black Axe group, arresting suspected criminal operators or money mules, raiding and shutting down premises and seizing assets related to ongoing cases.

Two INTERPOL operational support teams were also deployed to South Africa and Ireland respectively to help coordinate international law enforcement teams on the ground. In Italy, the Carabinieri made three arrests in Campobasso within the framework of the operation.


“Fraud is transnational, there are no borders” said Detective Superintendent Michael Cryan of Ireland’s Garda National Economic Crime Bureau, which participated in Operation Jackal.

In total, the operation resulted in:

EUR 1.2 million intercepted in bank accounts, 75 arrests, 49 property searches, 7 INTERPOL Purple Notices, detailing criminal modus operandi, 6 INTERPOL Red Notices, issued for internationally-wanted fugitives

“Illicit financial funds are the lifeblood of transnational organized crime, and we have witnessed how groups like Black Axe will channel money gained from online financial scams into other crime areas, such as drugs and human trafficking. These groups demand a global response,” said Stephen Kavanagh, Executive Director of Police Services, INTERPOL.


a suspect arrested in South Africa

Lavish lifestyles

The immense quantity of assets seized, including 12,000 SIM cards, have provided new investigative leads for law enforcement, generating 13 analytical reports and allowing police to identify more than 70 additional suspects.

The lavish lifestyles and greed of many suspects – allegedly paid for by defrauding members of the public of their savings and other criminal activities – was on clear display at the scenes of their arrest. Various luxury assets were seized, including a residential property, three cars and tens of thousands in cash.


Various luxury assets were seized, including a residential property, three cars and tens of thousands in cash.

The operation also saw INTERPOL successfully deploy its new global stop-payment mechanism known as the Anti-Money Laundering Rapid Response Protocol (ARRP), currently in its pilot stage. Used within the framework of INTERPOL’s Global Financial Crime Task Force, the ARRP enables member countries to quickly intercept illegal proceeds of crime.

“The ARRP is a game-changer in the fight against global financial crime, where speed and international cooperation are crucial to intercepting illicit funds before they disappear into the pockets of money mules abroad,” said Rory Corcoran, Director of IFCACC. “INTERPOL’s Global Financial Crime Task Force has shown remarkable effectiveness in disrupting illicit financial flows, bringing together cyber and finance experts across sectors to track and cut off criminal money trails.”


The lavish lifestyles and greed of many suspects were clearly on display.

No borders

Operation Jackal comes on the heels of INTERPOL’s first-ever roundtable engagement event with the Financial Action Task Force (FATF) in Singapore last month, where a new joint initiative to take action against illicit financial flows was launched between the organizations.

Up to USD 2 trillion in illicit funds are laundered through the global financial system every year, according to the United Nations, and is estimated that less than 1% of these funds are intercepted and recovered.

“Fraud is transnational, there are no borders,” said Detective Superintendent Michael Cryan of Ireland’s Garda National Economic Crime Bureau, which participated in Operation Jackal.

“This is a great example of what can be achieved when international police forces cooperate by sharing intelligence, information and evidence. By working together with support from INTERPOL, the activities of these criminal gangs can be greatly disrupted, making it safer online for everyone.”


Operation Jackal mobilized 14 countries across four continents in a targeted strike against Black Axe and related West-African organized crime groups.

Operation Jackal was conducted under the aegis of Project CEFIN, which targets cyber-enabled financial crimes and is funded by the Republic of Korea.

The full list of participating countries in Operation Jackal are: Argentina, Australia, Côte d’Ivoire, France, Germany, Ireland, Italy, Malaysia, Nigeria, Spain, South Africa, the United Arab Emirates, the United Kingdom and the United States.

49 property searches were carried out during the operation around the world

Chinese National, Deng Jailed 5-years For Illegal Mining In Kwara

 

Justice Muhammed Sani of the Federal High Court sitting in Ilorin on Wednesday, October 19, 2022, convicted and sentenced a 29-year-old Chinese National, Gang Deng, to five years imprisonment for offences bordering on illegal mining and possession of minerals without lawful authority.

Gang was arrested along Tsaragi Road in Share, Edu Local Government Area of Kwara State on Friday, September 9, 2022 by the Ilorin Zonal Command of the EFCC. He was found to be in possession of 25 tons of minerals suspected to be Lepidolite, a raw material used for the production of batteries for vehicles, cell phones, cameras and other electronic devices.


READ ALSO: Oil Theft: Navy Hands Over Vessels, Crew To EFCC


It would be recalled that operatives of the EFCC, in collaboration with the Kwara State Command of the Nigeria Security and Civil Defence Corps, NSCDC and the Federal Ministry of Mines and Steel Development on August 30, 2022, arrested 13 suspected illegal miners operating in Kakafu village in Patigi Local Government Area of Kwara State.

Mining without license is a criminal offence under the law. It is an act of economic sabotage, punishable under Section 1 (😎 of the Miscellaneous Offences Act, which stipulates life imprisonment for offenders.

The Chinese National who is the Managing Director of Sinuo Xinyang Nigeria Ltd, confessed to the crime.

Consequently, the Ilorin Command of the EFCC arraigned Gang alongside his company Sinuo Xinyang Nigeria Ltd on one count amended charge before Justice Sani. When the charge was read to the defendant, he pleaded guilty, but entered “not guilty plea” for his company.

The court, thereafter adjourned till November 17, 2022 for hearing in the case of the convict’s company, Sinuo Xinyang Nigeria Ltd.

EFCC Arrests 12 Bankers For Suspected Insider Fraud In Enugu

 

The Enugu Zonal Command of the Economic and Financial Crimes Commission, EFCC, on Friday, October 14, 2022 arrested twelve (12) bankers for suspected insider fraud.

The suspects are: Odeniyi Anthony, Deki Kingsley Onyekachi, Oguchukwu Ene, Elendu Chizaram, Anyakora Uchenna, Onah Kingsley, Akwe Elizabeth and Chinenye Grace Acibe.

Others are: Victoria Ezedie, Chidi-Ukah Obinna, Etoh Lawrence Uzochukwu and Udeze Harrison.

Preliminary investigations showed that the suspects allegedly stole funds from some dormant accounts in a branch of an old generation bank in Enugu.

The stolen funds were transferred from the dormant accounts to various beneficiaries, with the principal beneficiary already identified by the EFCC.

Authorities of the antigraft agency, say the suspects will be charged to court as soon as investigations are concluded.