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…
Tag: money laundering
EFCC declares Margaret Emefiele wanted for alleged money laundering
The Economic and Financial Crimes Commission (EFCC) has declared Mrs. Margaret Emefiele, wife of the former governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, wanted for alleged money laundering. According to EFCC’s spokesman, Mr. Dele Oyewale, speaking in Abuja, “Three other persons had been declared wanted alongside Margaret on the same office.” Read More…
PenCom earns top ethical rating in 2023, marking vindication for Nigeria’s pension administration
The National Pension Commission (PenCom) has achieved a significant milestone, securing the top position in the 2023 Ethics and Integrity Compliance Scorecard (EICS) among 50 regulatory agencies in Nigeria. This accomplishment comes two years after the conviction of Abdulrasheed Maina, former chairman of the Pension Reform Task Team (PRTT), for money laundering and other offences Read More…
Diplomatic hostage, Alex Saab, returns in triumph
Venezuelan Special Envoy and Ambassador to the African Union, Alex Nain Saab Morán, who, against the established diplomatic practice of immunity, had been illegally detained in Cape Verde for sixteen months and in the United States for two years, was freed on Wednesday, December 20, 2023. He was exchanged for ten American prisoners in Venezuela who Read More…
Imperative of Loot Recovery
If there is no chicken for the celebration of Christmas this year, it won’t be because people have suddenly lost their appetite for chicken. It will be an indication of the state of the economy and the privation many Nigerians are going through. As you and I know, the fact that many people now trek Read More…
GIABA urges West African states to prioritise prosecution of illicit financial flows
In a bid to combat terrorism financing and tackle financial crimes, the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) has emphasised the urgent need for member states to prioritise the prosecution of illicit financial flows. The call came during the 2023 summit for Compliance Officers in West Africa, themed around the “Intersection Read More…
Appeal Court upholds Maina’s son’s conviction for money laundering, reduces sentence
The conviction of Faisal for conspiracy and money laundering by the Court of Appeal on Thursday was affirmed. Faisal is the son of the imprisoned former Chairman of the disbanded Pension Reform Taskforce Team (PRTT), Abdulrasheed Maina. A three-member panel of the appellate court also lowered his sentence from 14 to seven years in prison Read More…
Governors under EFCC watch for stashing cash, money laundering
In a meeting with President Muhammadu Buhari on Thursday in Abuja, EFCC Chairman Abdulrasheed Bawa provided an update on the organisation’s recent endeavours. After meeting with the president, Bawa met with the State House media and said that the number of governors under investigation by the Commission for possible money laundering had climbed from the Read More…
EFCC re-arraigns Shasore on 14-count money laundering charge in Abuja
Olasupo Shasore, SAN, the former A-G of Lagos State, has once again been brought before the court by the Economic and Financial Crimes Commission (EFCC) on Friday on a 14-count money laundering charge, barely 24 hours after he was arraigned before Justice Mojisola Dada at the Federal High Court, Lagos division, on a four-count charge Read More…
Court adjourns Fayose’s alleged N6.9 billion fraud trial to January 31
Ayodele Fayose’s alleged money laundering trial has been postponed by the Federal High Court in Lagos till January 31 and February 1. Due to a scheduling error, the case’s trial was originally supposed to continue on October 26. A new trial date was to be decided by the parties and set by the court. The Read More…