Thursday, November 15, 2018

Tag "money laundering"

    Ibori: My trial taught me incredible lessons

Ibori: My trial taught me incredible lessons

James Ibori, former governor of Delta state, says his corruption trial has taught him incredible lessons that he could not have learnt in any institution of learning.He said this in the October edition of EFCCAlert, a monthly newsletter of the Economic and Financial Crimes Commission (EFCC).In 2012, Ibori was sentenced by a United Kingdom Southwark Crown Court to 13 years [...]

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    Judge: Metuh was asked to sit but he decided to fall

Judge: Metuh was asked to sit but he decided to fall

Okon Abang, a judge of the federal high court in Abuja, says Olisa Metuh, former spokesman of the Peoples Democratic Party (PDP), fell in court “on his own.”Metuh was said to have collapsed in the court while he was making his way to the dock on Monday.The incident made the presiding judge to rise briefly while Metuh received medical attention.But [...]

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    Witness: Dokpesi paid me N68m for renovation, studio works

Witness: Dokpesi paid me N68m for renovation, studio works

One of the witnesses in the trial of Raymond Dokpesi, former chairman of DAAR Communications, has spoken on how he allegedly received huge sums of money from the media mogul.Testifying at the federal high court, Abuja, on Wednesday, Ayobami Oluwarinu, a prosecution witness, said Dokpesi paid him about N68 million for renovation and building work.He told the court he became [...]

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    Report: EFCC traces $4.5m missing from Ibru’s properties to UK

Report: EFCC traces $4.5m missing from Ibru’s properties to UK

The Economic and Financial Crimes Commission( EFCC) has traced the  “missing” funds from sale of properties confiscated from Cecilia Ibru, former managing director/chief executive officer of Oceanic Bank, to the UK. About $4.5 million is said to be unaccounted for, out of the over $7 million recovered from the sale of 61 of such properties in Dubai.The properties were confiscated in [...]

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    Customs nabs man with ‘$375,000 cash’ at Kaduna airport

Customs nabs man with ‘$375,000 cash’ at Kaduna airport

The Nigeria Customs Service has arrested one Adamu Muhammad who reportedly had $375,000 cash on him at the Kaduna International Airport.At an exchange rate of N360, the money found on Muhammad is N135 million.The suspect was intercepted by customs officers on Saturday, as he was about to board an Ethiopian Airline flight to Dubai, United Arab Emirates.Muhammad was handed over [...]

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    Court dismisses corruption charges against Nnamani, ex-Enugu gov

Court dismisses corruption charges against Nnamani, ex-Enugu gov

A federal high court sitting in Lagos has dismissed the corruption charges against Chimaroke Nnamani, a former governor of Enugu state.The Economic and Financial Crimes Commission (EFCC) had accused Nnamani of laundering N4.5 billion while in office between 1999 and 2007.He was to be re-arraigned before the court on Tuesday after he was first arraigned in 2007.During the hearing on [...]

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    Witness: Supreme court judge tried to move out cars, bag of money when he sensed trouble

Witness: Supreme court judge tried to move out cars, bag of money when he sensed trouble

A prosecution witness in the ongoing trial of Sylvester Ngwuta, a supreme court judge, has narrated how the justice allegedly tried to move some cash discovered in his house in Abakiliki, Ebonyi state capital.The justice is standing a 13-count charge bordering on money laundering, age falsification and possession of multiple international passports.His home was raided by DSS operatives in October 2016, during [...]

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    I still can’t remember my dealings with Metuh, says Dasuki

I still can’t remember my dealings with Metuh, says Dasuki

Sambo Dasuki, former national security adviser (NSA) has told the federal high court in Abuja that he is still not able to remember if he paid any money to Olisa Metuh.Metuh, former spokesman of the Peoples Democratic Party, is being prosecuted by the Economic and Financial Crimes Commission (EFCC) for allegedly receiving N400 million diverted from Dasuki's office.Listed as defence witnesses [...]

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    Metuh’s trial: Jonathan demands N1bn to heed subpoena

Metuh’s trial: Jonathan demands N1bn to heed subpoena

Former President Goodluck Jonathan has asked the federal high court sitting in Abuja to quash the subpoena ordering him to appear as a witness in the ongoing trial of Olisa Metuh.Okon Abang, the judge handling the case, had insisted that Jonathan must testify in the trial of Metuh, a former national publicity secretary of the Peoples Democratic Party (PDP).Metuh, who [...]

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    Diezani: I want to be in Nigeria for money laundering trial

Diezani: I want to be in Nigeria for money laundering trial

Diezani Alison-Madueke, former minister of petroleum resources, has asked the federal high court in Lagos to compel the attorney general of the federation to allow her appear in court over a N450m money laundering charge.Alison-Madueke is currently in the UK where she has been since leaving office in 2015.Some civil society groups have been campaigning for her to be brought back [...]

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    EFCC seizes 14 houses, land linked to Bala Mohammed

EFCC seizes 14 houses, land linked to Bala Mohammed

The Economic and Financial Crimes Commission says it has seized 14 pieces of property linked to Bala Mohammed, former minister of the federal capital territory (FCT), and his son, Shamsuddeen.In a court application filed before the federal high court in Abuja, on September 11, the commission sought the interim forfeiture of the said property.It said the properties -- located in [...]

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    EFCC traces ‘mighty’ buildings to Patience Jonathan

EFCC traces ‘mighty’ buildings to Patience Jonathan

The Economic and Financial Crimes Commission (EFCC) has reportedly discovered suspicious assets owned by Patience Jonathan, wife of ex-President Goodluck.The assets are said to be proceeds of money laundering.The commission is said to have initiated moves to seize the assets, which include six plots of land located in the Central Business district, Abuja; Wasa district, Idogwari district, Karsana and Mabushi [...]

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    EFCC: Ibori fighting hard to stall confiscation of his assets

EFCC: Ibori fighting hard to stall confiscation of his assets

The Economic and Financial Crimes Commission (EFCC) says James Ibori, former governor of Delta state, is “fighting tooth and nail” to stall the confiscation of his assets in the United Kingdom.In 2012, a UK court convicted Ibori of money laundering, with most of his property in the country risking confiscation.  He, however, appealed the conviction.In the latest edition of its monthly media [...]

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    EFCC includes Diezani in N450m money laundering charge

EFCC includes Diezani in N450m money laundering charge

The Economic and Financial Crimes Commission (EFCC) on Monday  joined Diezani Alison-Madueke, former petroleum minister, in a N450m money laundering suit involving Mohammed Belgore (SAN), and Abubakar Sulaiman, former minister of national planning.The EFCC prosecutor amended a five-count charge, and joined Alison-Madueke, as an accused person in the case, at a federal high court, Lagos.Alison-Madueke was charged in absentia alongside [...]

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    Plea bargain: Fani-Kayode, lawyer sing different tunes (updated)

Plea bargain: Fani-Kayode, lawyer sing different tunes (updated)

Femi Fani-Kayode, former minister of aviation, and Ahmed Raji, his counsel, are not on the same page regarding a case involving him at the federal high court in Abuja.On Monday, Raji had told the court to adjourn his client's case to allow him to explore other options of settlement.Raji made the application, saying since the money involved was "only N26m", he [...]

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    Court grants ex-FCT minister’s son N100m bail

Court grants ex-FCT minister’s son N100m bail

A federal high court in Abuja has granted Shamsudeen Bala, son of former FCT minister, bail in the sum of N100m, and with two sureties in like sum.According to the court, the sureties  owners of property in Abuja or Lagos.Also, he is to deposit his international passport at the court.Bala is facing charges of money laundering to the tune of [...]

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Exchange Rates

November 13, 2018USDGBPEUR
INTERBANK306397354
LAGOS359475418
KANO359476420
PH360476420
ABUJA359478419
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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