In a high-stakes courtroom drama, one of the top executives from Binance, the world’s largest cryptocurrency exchange, stood before an Abuja court to confront serious allegations. Tigran Gambaryan, Binance’s head of financial crime compliance, faced charges of tax evasion and money laundering alongside his colleague, Nadeem Anjarwalla, the regional manager for Africa. The Economic and Read More…
Economic Crimes
EFCC to challenge court ruling on Emefiele’s detention
The Economic and Financial Crimes Commission (EFCC) has vowed to appeal a court ruling that awarded N100 million damages to a former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, over his detention by the anti-graft agency. Emefiele, who served as the CBN governor from 2014 to 2019, was arrested by the EFCC Read More…
Former EFCC Chairman Abdulrasheed Bawa released by DSS
The Department of State Services (DSS) has officially confirmed the release of Mr. Abdulrasheed Bawa, the former Chairman of the Economic and Financial Crimes Commission (EFCC). Dr. Peter Afunanya, the Director of Public Relations and Strategic Communications at the DSS, announced Bawa’s release in a statement issued in Abuja on Thursday. Afunanya revealed that the Read More…
Nigeria lost $2 billion to oil theft Jan to Aug 2022 – senate report
According to a Senate report released on Tuesday, Nigeria lost more than $2 billion to oil theft in the first eight months of this year. Large-scale theft from Nigeria’s pipelines has slowed exports, forced some businesses to halt production, destroyed the nation’s finances, and forced Nigeria to relinquish its position as Africa’s top oil producer. Read More…
Thieving Frenzy and Debt Slavery
At the rate Nigeria’s patrimony is being pillaged by known and unknown but well connected rats, the Guinness Book of Records will have to be updated to recognise our frog leap to primacy in thievery. Imagine, the Antwerp diamond heist used to be considered one of the largest robberies in history in which loose diamonds, Read More…
Gbajabiamila wants stiffest penalty for crude oil theft, says it’s treason
Speaker of the House of Representatives, Femi Gbajabiamila, said on Tuesday that crude oil theft in Nigeria, which is blamed for throttling output and exports, is tantamount to treason that should be punished by the stiffest possible penalty. Oil production fell below 1 million barrels per day in August, figures from NNPC show. Gbajabiamila said Read More…
NSCDC Operatives Discovers Illegal Mining Site in Lagos
The Nigeria Security and Civil Defense Corps (NSCDC), Lagos State Command, has said it discovered an illegal mining site during its midweek operations. Eweka Okoro, the State Agency Commandant, in a brief statement, said its agents were carrying out a search when they uncovered the location in the Ijede axis of Ikorodu. Okoro, while condemning the Read More…