Fraud

₦544m Grass-Cutting Fraud: Court Admits More Exhibits Against Babachir Lawal

A high court of the Federal Capital Territory sitting at Jabi, on Thursday, admitted more exhibits in evidence against the former Secretary to the Government of the Federation, Mr Babachir Lawal. Trial Justice Charles Agbaza admitted the exhibits which the Economic and Financial Crimes Commission, EFCC, tendered through its second witness, Mr Hamza Buwai. The …

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Man Jailed by Maiduguri Court for N9m Property Fraud

The Economic and Financial Crimes Commission, EFCC, Maiduguri Zonal Office, on Thursday, January 21, 2021 secured the conviction and sentencing of one Sahabo Abubakar Ahiwa before Justice Jude Dagat of the Federal High Court, Maiduguri, to one year and nine months imprisonment for obtaining N9m by false pretense. The defendant who was convicted along with …

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EFCC Arrests 10 For Alleged Internet Fraud In Lagos

Operatives of the Economic and Financial Crimes Commission, EFCC, Lagos Zonal Office, have arrested 10 persons for their alleged involvement in computer-related fraud. The suspects are: Jonathan Daniel Adebayo, Lawal Waidi Seun, Adeosun Joseph, Taiwo Gbemileke, Oseni Omotayo, Emmanuel Fakiyesi, Rasheed Ogunlana, Oladunni Segun, Sowunmi Rotimi and Efetobore Prince Wilfred. They were arrested on Saturday, …

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Testimony of a Scammed Nigerian

A popular scam going on in Nigeria now is the Bitcoin scam. It majorly happens on an app called “Telegram”. So many Nigerians have fallen victim to this type of scam. In this video, a Nigerian lady recounts how she was scammed on the telegram app.

Ex Bank manager, Adam jailed for N11m ATM fraud

The Maiduguri Zonal Office of the Economic and Financial Crimes Commission, EFCC, has secured the conviction Adam kaka Adam, a former banker, who was sentenced to one year imprisonment by Justice Ibrahim Jauro of the Yobe State High Court sitting in Damaturu. The convict was prosecuted on one-count of theft to the tune of N11, …

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Is real estate investment the new fraud?

Is real estate investment the new fraud? Real estate is usually a very attractive investment, because of the almost “fixed” size of land across the globe. However, the attractiveness of real estate, as an asset class, predisposes it to significant fraud risks. Arguably, the recent unattractive returns on saving and other investment products (e.g. treasury …

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