Tag: Money Laundering
EFCC Commences Investigation of Two Suspects for Undeclared $6,180 and £53,415 Cash at Lagos Airport
Lagos, October 13, 2025 Operatives of the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC), located at Okotie Eboh, Ikoyi, Lagos, have begun investigations into two travelers caught with undeclared foreign currency amounting to $6,180 and £53,415.The suspects, identified as Mamud Nasidi and Yahaya Nasidi, were intercepted on Saturday, October 11,…
Ex-Acting Accountant General Nwabuoku Accused of Diverting ₦868.4 Million in Defence Funds
Key Witnesses Detail Alleged Fraud in EFCC Corruption Trial The Economic and Financial Crimes Commission (EFCC) has commenced the trial of Chukwunyere Anamekwe Nwabuoku, the former Acting Accountant General of the Federation, over allegations of diverting ₦868.4 million from the Federal Ministry of Defence. The trial, which began on January 31, 2025, before Justice James…
Former Minister of Power, Saleh Mamman, Detained in Kuje Prison Amidst Money Laundering Charges
Abuja, Nigeria – In a dramatic turn of events, the Federal High Court in Abuja has ordered the detention of former Minister of Power, Saleh Mamman, at Kuje prison pending the review of his bail application. This decision comes after Mamman fainted outside the courtroom earlier in the proceedings. Justice James Omotosho issued the directive…
Former Binance CEO Changpeng Zhao Sentenced to Four Months in Prison
Former CEO of Binance, Changpeng Zhao, commonly known as CZ, has been handed a four-month prison sentence by a federal judge for violating U.S. money laundering laws. The ruling was delivered during a hearing held on April 30 at the U.S. District Court for the Western District of Washington, presided over by Judge Richard Jones….