fraud
6 hours ago
A Lagos High Court sitting in Ikeja yesterday convicted and sentenced a couple, Harry Uyanwanne and Oluwakemi Odemuyiwa (also known as Kristein Uyanwanne), along with Temple International Church, to 10 years imprisonment for stealing N52 million. The trial judge, Justice Mojisola Dada, also ordered the deregistration and closure of Temple International Church, stating that it…
1 day ago
The many reactions and comments to one of my LinkedIn posts that analysed how “Artificial intelligence helped the United States Treasury Department recover $ 1 billion worth of check fraud” have spurred me to write on why modern businesses must adopt AI to prevent fraud. Fraud detection systems and other business-critical tools rely on machine…
28 Nov
The trial of former Minister of Power, Saleh Mamman, continued on Wednesday, November 27, 2024, in the Federal High Court, Abuja, presided over by Justice James Omotosho, with the cross-examination of the third Prosecution Witness (PW3), Colonel Adebisi Adesanya (retd.). The cross-examination followed the testimony of the witness on Tuesday, November 26, 2024, in which…
28 Nov
The Force Criminal Investigation Department (FCID) has detained a self-acclaimed licensed Bureau De Change (BDC) operator, Chinedu Ngwaka, for alleged fraud of N320 million. The FCID’s Police Public Relations Officer (PPRO), ASP. Aminat Mayegun, confirmed this in a post she shared on her X handle @mayegunAmina on Wednesday. She said that the police received a…
27 Nov
An Abuja High Court, on Wednesday fixed December 10 for ruling in the bail application filed by former governor of Kogi, Yahaya Bello of Kogi and two others. Justice Maryann Anenih fixed the date after counsel for the prosecution, Kemi Pinheiro, SAN, and the defence, Joseph Daudu, SAN, presented their arguments for and against the…
27 Nov
ACTIVITIES of cyber criminals appear to be on the rise as hackers were able to steal about N53.4 billion from banks in nine months. FITC Fraud and Forgery reports for the first, second and third quarters of 2024 revealed this loss. According to FITC, while there was a minimal loss of N468.4 million in Q1,…
27 Nov
Wema Bank Plc has reaffirmed its commitment to combating fraud and protecting customers' financial interests. This was disclosed at a seminar hosted by Wema Bank to commemorate International Fraud Awareness Week 2024, themed ‘Share A Story, Stop A Scam’, which was held at the bank's head office in Lagos. The bank’s MD/CEO, Moruf Oseni, emphasised…
22 Nov
The Economic and Financial Crimes Commission (EFCC) has arraigned the Director of Human Resources Management of the Rural Electrification Agency (REA) Mr. Sulieman Garba Bulkwang before Justice Joyce Abdulmalik of the Federal High Court, Abuja for fraud. He is being prosecuted on a five-count charge bordering on criminal diversion of funds and money laundering to…
22 Nov
A Lagos State High Court sitting in Ikeja has adjourned the N30 million fraud case against 64-year-old Suleiman Gbajabiamila to January 21, 2025.
18 Nov
Justice Olubunmi Abike-Fadipe of a Lagos Special Offences Court sitting in Ikeja has ordered the remand of a former manager of the Iju Branch of Polaris Bank Limited, Abiodun Sanni, in the Correctional Facility over an alleged defrauded sum of N122,011,441,00. The judge ordered the remand of Sanni in Kirikiri Correctional Facility after he was…
13 Nov
The Economic and Financial Crimes Commission (EFCC) has arrested Timber Kesiye Wabote, former Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), over an alleged $35 million fraud linked to the abandoned Brass Project in Bayelsa State. Wabote is accused of misappropriating public funds intended for a refinery and infrastructure project to boost…
8 Nov
The Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) has formally petitioned the Nigerian Police over an alleged N65 million fraud involving some of its executives. The petition, addressed to the Assistant Inspector General (AIG) of Police, Zone 2 Command in Onikan, Lagos, claims that Mr Fasasi Atanda, the association’s president, diverted the…
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30 mins ago
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Shell Companies in Nigeria awarded $1.98 billion worth of contracts to indigenous firms in 2023, reflecting a 3% increase from the $1.92 billion recorded in 2022. At the 13th Practical Nigerian Content Forum in Bayelsa State, SNEPCo’s Managing Director Ron Adams, represented by Olaposi Fadahunsi, explained that the contracts have enabled local firms to expand…
58 mins ago
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1 hour ago
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Chief Executive Officer and Managing Director, Mania Petroleum Marketing Company Limited, Dr Shina Amoo, has urged the Federal Government, 36 governors and the Minister of Federal Capital Territory (FCT), Abuja to declare a state of emergency on education. Amoo made the call on Wednesday, shortly after he bagged a Ph.D. in Business Administration at the…
1 hour ago
South Korean MPs have begun impeachment proceedings against President Yoon Suk Yeol after thwarting his shock move to impose martial law. The president had said martial law was needed to protect the country from "North Korea's communist forces" and to "eliminate anti-state elements". Though he cited North Korea, President Yoon's decision was seen as a…
1 hour ago
President Joe Biden has announced that the United States is providing more than $1 billion in additional humanitarian assistance to address food insecurity and other urgent needs of refugees, internally displaced persons (IDPs), and affected communities in 31 African countries. The funding, announced during President Biden’s visit to Angola, includes nearly $823 million through USAI,…