Former President Olusegun Obasanjo says he learnt the art of fraud, also known as "419" in Nigeria parlance, while in prison. In 1995, Sani Abacha, former head of state, had sentenced Obasanjo to 30 years in prison, but the former president was released in 1998. In an interview with New Telegraph, Obasanjo said while in prison, he called those involved in the [...]
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Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says Nigeria's security problems will cease to exist if the land borders are closed for two years. Emefiele spoke on Friday at the first convocation lecture of Edo University, Iyamho, Auchi, where he delivered a lecture on "The role of monetary policy towards economic growth in Nigeria”. Nigeria's land borders have been [...]
The Economic and Financial Crimes Commission (EFCC) says it is considering rehabilitating internet fraudsters, better known as Yahoo Yahoo boys. Ibrahim Magu, acting chairman of the agency, made this known while delivering a paper entitled, 'Strategic change administration and innovation to curb corruption in Nigeria', at the third all administrators national conference of the Chartered Institute of Administration, in Lagos, on [...]
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On Thursday, the United States Federal Bureau of Investigation (FBI) announced a massive bust of online fraudsters who are mostly Nigerians. At a press conference, Nick Hanna, US attorney, said federal authorities apprehended a total of 80 suspects for cyber crime and money laundering, with 57 more being hunted globally. He had said investigations which began since 2016 showed that the suspects "many of [...]
Operatives of the Economic and Financial Crimes Commission (EFCC) announced the arrest of 32 suspected internet fraudsters known as "Yahoo-Yahoo Boys" on Thursday. The suspects ranging from the ages of 15 to 39 years were arrested at Liberty Estate, Laderin area of Abeokuta. EFCC operatives said some of the items recovered from them were six exotic cars, laptops, mobile phones, forged documents and [...]
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