The Central Bank of Nigeria has confirmed that it opened two domiciliary accounts linked to the disputed Presidential Foreign Investment Promotion Council. According to the apex bank, the action was taken based on instructions from the Office of the Accountant-General of the Federation. The CBN stated that one of the accounts was denominated in United…
The Economic and Financial Crimes Commission has arraigned a suspected fraudulent Bureau De Change operator before a court in Onitsha over allegations of financial fraud amounting to N78.2 million. The defendant is accused of defrauding victims under the guise of conducting legitimate foreign exchange transactions. According to the anti-graft agency, the suspect allegedly obtained funds…
The Economic and Financial Crimes Commission (EFCC) has announced the recovery of funds from CryptoBank Exchange (CBEX), a digital investment platform implicated in a massive scam involving approximately N1.3 trillion. EFCC spokesperson Dele Oyewale stated that the commission is diligently working to recover the lost funds and bring the perpetrators to justice. To facilitate this…
The Economic and Financial Crimes Commission (EFCC) has apprehended three individuals – Olaniyan Joshua, Oyetunde Julius Akano, and Victor Oluwale – for allegedly operating a Q-net scam in Abuja. The suspects, trading as Mighty Infinity Millionaire Limited, falsely claimed to represent Q-net, a global e-commerce and direct selling company. Q-net has vehemently denied any association…
News making round is that Franklin Nwadialo, the newly elected chairman of Ogbaru Local Government Area of Anambra State, has been embroiled in a $3.3 million romance scam controversy. The United States Department of Justice alleged that Nwadialo who lcocked 40 this year used fake online profiles and military paraphernalia to deceive vulnerable women on…