As part of efforts to equip its officers and other stakeholders in the financial sector with skills to live up to its mandate, the Special Control Unit against Money Laundering, SCUML, of the Economic and Financial Crimes Commission, EFCC has began a 10-day training workshop for its staff. EFCC is embarking on the training in…
Court Discharges Ajudua of $1.9m Fraud Charge
By Janet Johnson An Ikeja High Court has discharged Fred Ajudua, a socialite and businessman, from $1.69 million fraud charge. Kudirat Jose, the judge discharged Ajudua and Charles Orie, his co-defendant following the withdrawal of the charge by the Economic and Financial Crimes Commission, EFCC. “The charge against the defendants is hereby struck out.…
Two Convicted For Fraud In Lagos
Sunday John Ntephe and Olomosu Kola, have been jailed, 1-year for obtaining the sum of N125, 000 by false pretense from one Adetiba Oluwafemi. They were convicted yesterday, October 9 by Justice Kudirat Jose of the Lagos State High Court, Ikeja, on a two-count-charge bordering on advance fee fraud and obtaining money under false pretense.…
EFCC Prosecutes Travel Agent Over Dud Cheque
The Economic and Financial Crimes Commission, EFCC, has arraigned Hassan Khalid, a travel agent and Himma Travel and Tours Limited, his company before a Kano State high court over a dud cheque. Khalid was arraigned on a one count-charge of issuing a Zenith Bank Plc dud cheque worth N9,514,000.00 in favour of Universal Isma Umra…
EFCC Closes Case On Fani-Kayode
The Economic and Financial Crimes Commission, EFCC, on Thursday, closed the money laundering case it was pursuing against Femi Fani-Kayode, a former Minister of Aviation. Fani-Kayode was standing trial on an amended 40 counts charges bordering on money laundering, before a Federal High Court in Lagos. On Thursday, the prosecution counsel, Festus Keyamo, through a…
Appeal Court Acquits Hembe’s Deputy
The Court of Appeal, Abuja Division, has discharged and acquitted Chris Azubuogu, former vice chairman, House of Representatives Committee on Capital Market, of charges bordering on dishonest conversion of money. He was accused of allegedly converting the sum of $4,095 given to him by the Securities and Exchange Commission, SEC, to attend a conference in…
Rallying Against Subsidy Scam
A coalition of human rights activists and non-governmental organisations has taken up the gauntlet to enforce the recovery of various huge sums of money diverted from the Federation Account It is a rare collaboration but one that has the common good of Nigerians as its sole objective. Femi Falana, fiery Lagos lawyer and counsel to…
Boom or Burst for Investors?
The Nigerian Stock Exchange outperformed others in Africa in 2013 posting 44.6 per cent return on investment, which experts say is a reflection of the growth of the economy. But are the returns sustainable? Since the Nigerian stock market witnessed a near crash in 2009, several investors have been sitting on the fence. However, with…
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