EFCC places ministers under 24-hr surveillance
The Economic and Financial Crimes Commission, EFCC, has placed all serving ministers on a 24-hour surveillance ahead of the investigation being conducted by the Presidential Projects Monitoring Committee into the various projects embarked upon and executed in the last two years.
An impeccable source at the commission revealed at the week-end that the anti-graft agency had [...]
EFCC Keeps 10% of Billion Recovered From Debtors
The EFCC, which energetically jumped into the banking crisis and whose chairman moved over 100 agents to Lagos at the height of the financial sector meltdown,is collecting 10 percent of all the monies recovered from debtors on behalf of banks, according to industry and EFCC sources.
This legally dubious and ethically questionable practice means that the [...]
Bank PHB’s ex-MD in fresh N14bn scam
THE sacked Managing Director of Bank PHB, Mr. Francis Atuche, is in for more troubles as the Economic and Financial Crimes Commission (EFCC) discovered another N14 billion fraud allegedly perpetrated by him.
According to EFCC investigation, the sacked managing director was said to have given two subsidiaries of the bank, the Bank PHB Assets Management Limited [...]
EFCC Shuts 800 Scam Websites, Busts Syndicates
Economic and Financial Crimes Commission (EFCC) has shut down over 800 scam websites and arrested members of 18 syndicates behind the fraudulent schemes in its renewed bid to deal decisively with internet fraudsters.
The operation was carried out through an EFCC initiative, tagged “Project Eagle Claw,” a statement by the commission’s Head, Media and Publicity, Femi [...]
Mend Under Fire Over Attack Threat
The Movement for the Emancipation of the Niger Delta, MEND, is drawing flak from its former commanders who recently gave up arms, after its threat, on Friday, to resume attacks on oil installations in the country.
Other stakeholders in the region including the Ijaw leader, Chief Edwin Clark and Henry Okah are also rallying against fresh [...]
Bank debts: 80 EFCC operatives storm Lagos
CHAIRPERSON of the Economic and Financial Crimes Commission, EFCC, Mrs. Farida Waziri, yesterday, led a team of 80 operatives to Lagos to recover the non-performing loans granted some Nigerians by the four banks that were recently slammed by the Central Bank, CBN, for non-compliance to banking principles.The four banks are Bank PHB Plc, Spring Bank [...]
EFCC moves to repatriate Akingbola, Nana-Shettu, Oye
The Economic and Financial Crimes Commission has commenced plans to file for the repatriation of the former managing director of Intercontinental Bank, Erastus Akingbola, and two aides of Cecilia Ibru, the former managing director of Oceanic Bank, Nana Shettu and Dele Oye, an EFCC source told NEXT on Monday.
Akingbola and Oye are believed to be [...]
FG seeks investors for 8 troubled banks
THE Federal Government has started an earnest search for investors to purchase the eight troubled banks whose chief executives were sacked by the Central Bank after an audit of the banks.
Meanwhile, the Central Bank, yesterday, dismissed allegation of bias in its audit report on Unity Bank, saying that the same criteria were used to examine [...]
CBN to fire Bank PHB MD, other heads set to roll
The Managing Director/ Chief Executive Officer of Bank PHB, Frank Atuche, will be dismissed later today by the Central Bank of Nigeria, highly placed sources told NEXT last night. Mr. Atuche’s sacking is said to be a direct result of the failure of the bank he heads, to pass the CBN stress audit. The bank [...]
How Ribadu plotted to sack Yar'Adua, says Ibori
THE verbal exchange between former Governor of Delta state, Chief James Ibori and former Chairman of the Economic and Financial Crimes Commission, EFCC, Mallam Nuhu Ribadu, is far from over, as Ibori yesterday, lashed out on Ribadu, calling him a serial liar.
Ribadu, on his part, challenged Ibori to return his alleged loot [...]
