32 entities stole over N1.3 trillion in four years, says Magu
Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has disclosed that 32 entities comprising individuals and corporate bodies stole over N1.3 trillion between 2011 and 2015.
Nigeria loses $18b yearly to illicit financial flows
The Nigeria Extractive Industries Transparency Initiative (NEITI) has said $18 billion of revenue expected to address the nation's under-development is diverted yearly in illicit financial flows (IFFs). Presenting a report on "Averting Illicit Financial Flows in Nigeria's Extractive Industry" yesterday in Abuja, NEITI Executive Secretary, Waziri Adio, noted that over 30 per cent of the…
Buhari decries flagrant disregard for money laundering laws
President Muhammadu Buhari has expressed concern at the volume of foreign currency in the country. He feared they could be deployed for something untoward A statement yesterday by his Senior Special Assistant on Media and Publicity, Garba Shehu, said the president raised the alarm during the Federal Executive Council (FEC) meeting where he accused some…
African countries now destination of Nigeria's looted funds, says EFCC boss
Acting chairman of Nigeria's anti-graft agency Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, said looters of the country's treasury now keep illicit funds in Ghana, Egypt, Cameroon, South Africa, Niger Republic, Morocco and other African countries. Magu made the disclosure at the signing of a Memorandum of Understanding (MoU) between EFCC and its Nigerien…
Magu decries illicit financial flows, vote-buying during elections
The acting Chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Magu, has condemned the increasing wave of illicit financial flows and vote buying during elections in the country.
Whistle Blowing: EFCC recovered N527bn, $53m, £123 as at May 2018 — Magu
Mr Ibrahim Magu, Acting Executive Chairman, Economic and Financial Crimes Commission (EFCC), says the commission recovered over N527 billion, 53 million dollars...
EFCC tasks banks’ compliance officers on money laundering
Acting Chairman of the Economic and Financial Crimes Commission (EFCC) Ibrahim Magu, has charged financial institutions in the country to stop laundering illicit funds for corrupt politicians and criminals.
Fresh moves to ease Magu out unfounded – EFCC Spokesman
Mr Tony Orilade, Acting Head, Media and Publicity of the EFCC, says media reports on fresh moves to remove the Acting Chairman of the commission by the Presidency is unfounded.
EFCC plans rally against voter’s inducement, money laundering
The Economic and Financial Crimes Commission (EFCC) has finalised plan to host a concert aimed at rallying the grassroots against voter’s inducement and raising...
Adamawa APC chieftain lambasts EFCC over ex-SGF Lawal
Former national vice chairman (north east) of the Progressives Congress (APC), Alhaji Umar Duhu, has criticised the acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, for failure to prosecute former Secretary to the Government of the Federation (SGF), Babachir Lawal, over corruption allegations. Duhu told journalists in Yola, Adamawa State, yesterday…