APC, Buhari in Panic Mood

By Chidiebere Onyemaizu   After shrugging off the resignation of former Vice President, Atiku Abubakar from its fold, the All Progressives Congress, APC is in a panic mood. The Magazine has been informed that the full import of his exit and the impending on the party has now dawned on APC. The presidency is also putting mechanisms in place to forestall any negative impact the former VP’s exit from the party may have on the second term bid of President Muhammadu Buhari. The Source learnt that the APC and presidency…

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SEC: CACOL petitions presidency, EFCC

SEC-Security and Exchange Commission-is under scrutiny due to an ongoing investigation by the Economic and Financial Crimes Commission, EFCC. This followed a Presidential Directive to the commission based on petitions against Mournir Gwazo. Gwazo was accused by a Human Rights group, Centre for Anti-Corruption and Open Leadership,CACOL, of corruption to the tune of N104 million, a sum he allegedly paid himself as severance package, and award of contracts to firms he has interests in. “On January 2, 2013,” Adeniran wrote, “Mr. Mournir Haliru Gwarzo was appointed an Executive Commissioner in…

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Magu Says No Going Back On Oke, Ekpeyong

The acting Chairman of the Economic and Financial Crimes Commission, Mr. Ibrahim Magu, on Wednesday said he would not back down on the planned arrest of a former Director-General of the Department of State Services, Mr. Ita Ekpeyong; and a former DG of the National Intelligence Agency, Ambassador Ayo Oke. Magu said nobody, no matter how highly placed, was above the law of the land. He said the commission has concrete evidence against the former DSS and NIA heads. The EFCC boss spoke after he attended the inauguration of the…

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EFCC under pressure to account for recovered loots

EFCC-The Economic and Financial Crimes commission- is currently under intense fire for not being able to account for recovered loots that was handed over to them. Moreover, the commission is more and more entangled in corruption scandals themselves. In the recent case of the discredited pension Boss, Abdulrasheed Maina, has been one of the high profile cases that the commission is belatedly investigating. Maina was dismissed by the immediate past government on charges of corruption. The Source reported last October how Maina was used as a fall guy and how…

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Diamond Bank’s Albatross

By Chidiebere Onyemaizu   Many weighty issues are probably agitating the mind of Dozie Uzoma, the youthful Group Managing Director, GMD of Diamond bank. Chief among these is perhaps the desire to go down in history as the Bank’s GMD during whose tenure Diamond bank’s customer and deposit base burgeoned but it’s doubtful if Uzoma has taken time off to reflect on the travails of one of Diamond Bank Customers, Prince Alfred Ugochukwu Amaobi. Diamond Bank is a customer-friendly bank but Amobi’s bitter experience with the bank makes him insists…

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A Whistle-Blower to Get Over N300m

There are indications that the man who informed the Economic and Financial Crimes Commission of the $43m, N23.2m and £27,800 (N13bn) recovered from an Ikoyi apartment in April, may be given about N325m in the light of the Federal Government’s whistle-blower policy. The whistle-blower policy states that any whistle-blower whose information leads to the recovery of over N5bn will attract a 2.5 percent reward. The acting Chairman of the EFCC, Ibrahim Magu, who did not disclose how much would be given to the whistle-blower, said the commission was already counselling…

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Diezani Bribe: EFCC Traces N950 Million To Idris Wada, Detains Him

The Economic and Financial Crimes Commission on Monday traced N860m to the immediate past governor of Kogi State, Idris Wada; and a former acting governor of Taraba State, Sani Danladi. While N500m was traced to Wada, N450m was traced to Danladi. The money was said to be part of the N23bn allegedly disbursed by a former Minister of Petroleum Resources, Diezani Alison-Madueke, through the then Director of Finance of the Goodluck Jonathan Campaign Organisation, Senator Nenadi Usman. It was learnt that Wada arrived the EFCC office around 12pm and was…

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EFCC Returns N11.9 Million Stolen By RCCG Deacon

The Economic and Financial Crimes Commission has handed over two cheques totalling N11.9m to a parish of the Redeemed Christian Church of God in Rivers State. The amount was said to have been stolen by a deacon of the RCCG, Cyril Idakwoji. The South-South Zonal Head of the EFCC, Mr. Ishaq Salihu, explained on Wednesday that Idakwoji, a former employee of Access Bank, was the account officer of the church for the bank. He said the suspect diverted the church funds to private use instead of transferring them to the…

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EFCC Traces N2.1 Billion To Patience Jonathan Mum’s Account

The Economic and Financial Crimes Commission has traced N2.114bn to the bank account of Magel Resort Limited, which was allegedly owned by Mrs. Patience Jonathan and her late mother, Mama Charity Oba. According to the EFCC, the total amount of money traced to Mrs. Jonathan is now N17bn. Patience, the wife of former President Goodluck Jonathan, had, last week, filed a N2bn fundamental human rights suit against the EFCC, accusing the anti-graft agency of subjecting her to psychological trauma, unnecessary persecution and going as far as freezing her late mother’s…

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House Of Reps Committee Orders Magu’s Arrest

THE House of Representatives Committee on Public Petitions, yesterday, issued a warrant for the arrest of acting Chairman of Economic and Financial Crimes Commission, EFCC, Ibrahim Magu, over his refusal to appear before it. The committee, disturbed by Magu’s deliberate refusal to appear over former First Lady, Patience Jonathan’s petition demanding that her bank accounts be unfrozen, issued a bench warrant for Magu’s arrest. House of Representatives Magu is consequently expected to appear before the committee on November 7, to defend the role his commission played in getting six bank…

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EFCC Says N47.2 Billion, $487.5 Million Cash And Properties Is Traced To Diezani

The Economic and Financial Crimes Commission said it had so far, through painstaking investigations by its operatives, traced N47.2bn and $487.5m in cash and properties to a former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke. These, the anti-graft agency said, were apart from “boxes of gold, silver and diamond jewellery, worth several million British pounds sterling,” discovered during a search of   Diezani’s palatial residences in Abuja. The EFCC said it discovered several of Diezani’s landed properties scattered all over Lagos and other parts of the country in the course of…

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Court Orders Permanent Forfeiture of Diezani’s Mansion

The Federal High Court in Lagos has ordered that a $37.5m mansion on Banana Island, Lagos linked to a former Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, be permanently forfeited to the Federal Government. The court also ordered that the sums of sums of $2,740,197.96 and N84,537,840.70 realised as rents on the property should equally be forfeited to the Federal Government. The orders were made on Monday by Justice Chuka Obiozor, following a motion on notice argued before him by the Economic and Financial Crimes Commission. The anti-graft agency had…

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Nigeria suspended by Egmont Anti corruption group

A major blow to the current anti-corruption war was given recently by an international group, Egmont Group of Financial Intelligence Units. The group is currently meeting in China. with this suspension, the group has effectively lent its voice to the push that the current Economic and Financial Crimes commission, EFCC, has lost it as far as anti corruption war is concerned. The current EFCC acting chairman, Ibrahim Magu, has been having a running battle with the Senate, who rejected his nomination twice, and has insisted that the he be dropped…

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EFCC Gives Reason for Storming Sun Office

Economic and Financial Crimes Commission (EFCC), says that its presence in the early hours of Monday, June 12, 2017 at the head office of the Sun Newspaper in Lagos was to ascertain the state of the assets of the publishing company which is subject of subsisting interim forfeiture order. Legal opinion as to whether the commission had the right to be at the property is however unclear as the newspaper maintains that the matter is still very much under determination in court. EFCC, however, says that its visit lasted for…

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EFCC Seizes Patience Jonathan’s Hotel

The Economic and Financial Crimes Commission has seized a hotel allegedly belonging to Mrs. Patience Jonathan, the wife of former President Goodluck Jonathan. The anti-graft agency also seized three other properties in Abuja allegedly belonging to Patience. The five-storey hotel is located near Setraco Construction Company, beside Mabushi Kado Expressway. Although the hotel has not been officially valued by the EFCC, some estate agents within the community told our correspondent that the property should be worth about N2bn. The property, which has not been officially opened, has between 50 to…

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EFCC Arraigns Three Ghost Workers Over N9.7 Million Fraud

The Economic and Financial Crimes Commission, EFCC, on Tuesday, June 6, 2017 arraigned the trio of Onukaogu Onyinyechi Esther, Ebenuwa Chinazo Jennifer and Onukaogu Joshua before Justice A. S. Adepoju of the FCT High court sitting in Wuse, Abuja, on a 13-count charge of conspiracy and obtaining by false pretence. Esther allegedly abused her office while being a staff of Soft Alliance, consultants to the office of the Auditor General of the Federation on IPPIS between 2012 and 2013, to input her name and two of her siblings (Jennifer and…

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Court orders interim forfeiture of N449.77m recovered by EFCC in a shop

A Federal High Court sitting in Lagos, yesterday, ordered an interim forfeiture of N449. 77milion recently uncovered by the Economic and Financial Crimes Commission, EFCC, in a shop at LEGICO Shopping Plaza, Victoria Island, Lagos. Trial judge in the matter is Justice R.M. Aikwa. The order followed an ex-parte application by Rotimi Oyedepo, an EFCC prosecutor, pursuant to Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14, 2006. In his ruling, Justice Aikawa ordered anyone interested in the money to appear before him at…

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Buhari: Two years on, Nigerian Economy gallops back to the past

On the second anniversary of the APC led government, critics and analysts are divided on how the economy will be rated-whether it can be rated as an economy that is going no where very fast, or one that is galloping backwards to the mid eighties. A third group of analysts, made up mainly of the core of Buhari Media Campaign group and some young and semi literate Northern iridentists,who seem to have graduated in the school of insults rather than reason, are sticking out their worn out reputation in defense…

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19 Billion Paris Club Scam: EFCC Reports Indicts Saraki, Others

By Akinwale Kasali Senate President, Bukola Saraki is presently enmeshed into another controversy, as he has been indicted the Economic and Financial Crimes Commission has submitted a report to President Muhammadu Buhari linking him and some of his aides to the diversion of about N19bn from the N522bn Paris Club refund. The report also fingered Mr. Robert Mbonu of Melrose General Services Limited. Mbonu is a former Managing Director of Societe Generale Bank of Nigeria, the commercial bank owned by the Saraki family which was later liquidated. The Federal Government…

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Court grants Andrew Yakubu, former GMD NNPC N300million bail

The former Group Managing Director of the Nigeria National Petroleum Corporation, NNPC, Andrew Yakubu, has been granted bail by an Abuja high court. He is to produce two sureties. He is to pay N300million as bail bond. It will be recalled that Yakubu was sacked by the Jonathan Administration for corrupt practices. Recently, the Economic and financial Crimes Commission, EFCC, found $9.8 million in his house which he claimed is his personal money.He was taken to court and later remanded in prison. Details late…

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