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EFCC Probes Rapper Oladips’ ₦10m Extortion Claim, Suspends Operatives

The Economic and Financial Crimes Commission (EFCC) has launched an investigation into an allegation made by Nigerian rapper Oladipupo Oladimeji, popularly known as Oladips, who accused some of the commission’s operatives of extorting ₦10 million from him during his detention in 2024. Oladips made the claim during an interview on the Trending podcast, where he recounted being arrested along with several residents of his estate in Lagos during an EFCC midnight raid in November 2024. The rapper said he spent five days in custody before being released, despite no incriminating evidence being found against him. “They collected ₦10 million from me before they released me. They didn’t find anything on me. So, what was the money for? What was all that stress and suffering for? It’s just Nigeria. Nigeria just happened to me,” he said. Reacting to the claim, the […]

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Nigeria Launches Landmark ISO Standard to Bolster Anti-Fraud Framework

Nigeria has unveiled a groundbreaking anti-fraud framework with the official launch of the ISO 37003:2025 Fraud Control Management Systems standard, in partnership with the British Standards Institution (BSI). The landmark initiative, coordinated by the Standards Organisation of Nigeria (SON), was launched in Abuja by the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, represented by Jachinma Agu, deputy director of reforms. Oduwole described the standard as more than just another regulation, but a “collective resolve to shield Nigeria’s economy from fraud — a hidden tax on development.” “Fraud increases the cost of doing business, erodes investor confidence, stifles innovation, and undermines public trust,” she said. According to the minister, ISO 37003:2025 equips organisations to identify fraud risks, apply proportionate controls, detect illicit activities, and respond swiftly to incidents. She urged both government agencies and private firms to adopt the […]

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Cybercrime threatens Nigeria’s development, group warns

The Chief Executive Officer of the We Love Nigeria Unity and Peace Initiative (We Love Nigeria), Anaba Chimele Anthony, has cautioned that cybercrime poses a serious danger to Nigeria’s growth and future development. Speaking in Abuja during the launch of a nationwide sensitisation campaign against internet fraud, Anthony described cybercrime as a growing national embarrassment, particularly among young people. He explained that the grassroots campaign would reach universities, polytechnics, colleges of education, secondary schools, religious centres, diaspora communities, and public spaces to educate Nigerians on the dangers of internet fraud. “Internet fraud and cybercrime by our youths both at home and abroad have become a national embarrassment, turning into an ideology. We are stepping in to complement the efforts of security and intelligence agencies by taking this message to the grassroots,” Anthony said. He commended the Economic and Financial Crimes […]

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FG rejects US report on lack of transparency in procurement

The Federal Government has dismissed a report by the United States Department of State alleging that Nigeria lacks transparency in its public procurement process. The 2025 Fiscal Transparency Report had listed Nigeria among 32 African countries said to have made little or no progress in the fiscal policy space. While acknowledging that Nigeria had improved in publishing budget documents and debt obligations, the report faulted the country for failing to disclose information on public procurement contracts. It also criticised the Office of the Auditor-General of the Federation for not publishing comprehensive audit reports, citing weak institutional independence as a major setback. The report recommended that Nigeria should strengthen the independence of its supreme audit institution, make procurement information easily accessible, and publish timely audit reports of executed budgets. Out of 139 countries and the Palestinian Authority assessed, the report found […]

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EFCC Chair: Africa Needs Reforms to Attract Investors

The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has called for sweeping reforms across Africa to reduce investment risks and attract more foreign direct investment. Olukoyede made the remarks on Friday at the EBII Group African Leaders and Partners Forum in Washington DC, according to a statement by EFCC’s Head of Media and Publicity, Dele Oyewale. He stressed that Africa must embrace “broad-based and radical reforms” to improve the ease of doing business, strengthen the rule of law, and invest in human capital development. He also highlighted the need for strong institutions to address challenges in sectors such as agriculture, renewable energy, and solid minerals. Despite Africa’s vast natural resources and youthful, tech-driven population, Olukoyede said reforms are critical to unlocking the continent’s full economic potential. Showcasing Nigeria’s progress, he cited the EFCC’s record of […]

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N5.7bn Fraud: EFCC Moves to Seize Sujimoto CEO’s Assets

The Economic and Financial Crimes Commission (EFCC) has secured a court order against Sijibomi Ogundele, CEO of Sujimoto Luxury Construction Limited, over alleged diversion of ₦5.7 billion meant for 22 Smart Green School projects in Enugu State. Ogundele, whose accounts and international passport had earlier been seized, is now facing remand while investigations continue. The EFCC may also seek a fresh court order to confiscate his personal and company assets. The anti-graft agency declared Ogundele wanted two weeks ago for alleged money laundering. He later took to social media, blaming inflation and “underpriced contracts” for failing to deliver the projects. The Enugu State Government, however, accused him of absconding after receiving a 50% mobilization fee of ₦5.76bn, abandoning sites, and refusing to attend project briefings. In a statement, the government said: Ogundele delivered only shoddy and structurally weak work at […]

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Nigeria Can Defeat Corruption, Says EFCC Chairman

The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukayode, has expressed confidence that Nigeria can overcome corruption if citizens embrace transparency and accountability. Olukayode made this call at the 12th Annual Conference of the Association of Communication Scholars and Professionals of Nigeria (ACSPN), held in Effurun, Delta State. He was represented by Mr. Williams Oseghale, Assistant Commander and Head of Public Affairs at the EFCC’s Benin Zonal Directorate. The event was sponsored by Tantita Security Services Nigeria Limited (TSSNL), a private pipeline security firm contracted by the federal government. In his keynote address, the EFCC boss stressed that corruption remains the root of Nigeria’s challenges, including unemployment, insecurity, poverty, hunger, poor infrastructure, and declining life expectancy. “The onus is on us as individuals to be accountable, transparent, and committed to due process. Every challenge in Nigeria’s […]

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Sirika Denies ₦100bn Nigeria Air Scam, Says Only ₦3bn Released

Former Aviation Minister Hadi Sirika has dismissed claims that the Nigeria Air project under former President Muhammadu Buhari’s administration was a ₦100 billion scam, insisting the initiative was conceived with good intentions and due process. Speaking on Channels Television’s Morning Brief on Tuesday, Sirika described the reports as misleading. “It is a lie that I spent ₦100 billion. The total budget for the national carrier was ₦5 billion, the total amount released was ₦3 billion, and I left the ministry with over ₦1 billion,” he said. The former minister explained that Nigeria Air was structured as a public-private partnership (PPP) and regulated by the Infrastructure Concession Regulatory Commission (ICRC), which participated actively in the process and issued necessary certificates. The controversial project, launched shortly before Buhari left office, has since come under scrutiny, with Sirika facing trial for alleged corruption […]

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Court orders forfeiture of N246m shares to FG

The Federal High Court in Ikoyi, Lagos, has ordered the final forfeiture of shares worth over ₦246 million linked to retired Major-General U.M. Mohammed, former Managing Director of Nigerian Army Properties Limited (NAPL). Justice Dehinde Dipeolu delivered the ruling on Tuesday, August 26, 2025, after granting a motion filed by the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC). According to the EFCC, the forfeited assets were several units of shares traced to the retired officer, valued at ₦246,305,544. The anti-graft agency stated that investigations revealed the shares were acquired with proceeds of unlawful activities. Confirming the judgment in a statement posted on its official social media platforms, the EFCC said:“The Federal High Court sitting in Ikoyi, Lagos, presided over by Justice Dehinde Dipeolu, has ordered the final forfeiture of shares worth ₦246,305,544 linked to Major-General […]

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EFCC Invites Victims of CBEX Fraud to Aid Investigation

The Economic and Financial Crimes Commission (EFCC) has called on Nigerians who lost money to the fraudulent cryptocurrency platform, Crypto Bridge Exchange (CBEX), to report at its zonal offices in Ibadan and Lagos. According to EFCC spokesman Dele Oyewale, the platform lured investors with promises of unrealistic returns, leading to huge financial losses for many. The Commission is prosecuting three suspects — Adefowoara Abiodun Olanipekun, Otorudo Avwerosuo, and Ehirim Justice Chukwuebuka — over their alleged involvement in the scheme. Victims who invested through CBEX-linked offices in Ibadan and Idimu, Lagos, are urged to assist investigations by reporting to the EFCC Ibadan Zonal Directorate at 164, Reverend Oyebode Crescent, Iyaganku, Ibadan, or the Lagos Zonal Directorate 2 at 7A, Okotie-Eboh Street, Ikoyi. EFCC said the step was necessary to secure justice for victims and strengthen prosecution efforts.

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