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Tag: EFCC

  • SEC, EFCC collaborate to enhance capital market operations

    The Securities and Exchange Commission, SEC said it is collaborating with the Economic and Financial Crimes Commission, EFCC to enhance capital market operations in the country.

    the Director General of the Commission, Mr Mounir Gwarzo, said this in an interview with newsmen in Abuja.

    “This is a major game changer; in the past, SEC has had collaboration with EFCC in terms of sending some of our staff to work with them.

    “But what has happened at that time largely is that EFCC has leveraged on our experience and the competence of our people to also assist them in their work.

    “So we also felt there is a need to push that collaboration to a higher level.

    “So some of the salient issues in the MoU is, one, we should be able to have an exchange of staff; EFCC should be able to send some of their staff that they have trained them into Investigation.

    ”So we will share ideas to help in investigation and we should be able to send some of our staff to EFCC so that we will be able to share with them some of the intricacies of the capital market.

    ”Investigation in the financial industry is quite unique.

    ”We also agreed that we should be able to create dedicated desks both at EFCC and SEC such that we know that the desk is dedicated to the capital market issues,’’ he said.

    Gwarzo said that most importantly, the SEC going by its law, SEC did not have the power to prosecute criminal matters.

    He said the law limited SEC to only civil cases whereas about 99 per cent of cases in the capital market had some criminal elements.

    He said, “the best we normally do is after our investigation, we ban or suspend the operator as an individual, we also either suspend or revoke the licence of the operator as a company.

    “We then pass the matter to the EFCC, because the issue is related to the criminal aspect, we do not have jurisdiction to do that.

    “So with this collaboration, we will be able to work closely with EFCC to ensure that the criminal elements which concerns the investor is also pursued and prosecuted to its logical conclusion.

    “With this MoU we have had, I’m sure our investigation and particularly our enforcement mechanism, would been hanced.

    He explained that SEC had been handling civil cases and ”we had achieved a lot of progress but with the EFCC coming in, they would be able to also handle criminal matters.

    TheNewsGuru.Com reports that the EFCC boss had pledged commitment to ensure that the hallmark of the collaboration was achieved.

    He further said,“ for me, it is a major game changer in our enforcement drive and this will also send a very strong signal to any capital market operator that will commit an offence.

    Gwarzo said the collaboration would deter further offenders in the capital market.

  • I didn’t steal Nigeria’s money – Diezani

    Former Minister of Petroleum Resources, Diezani Alison-Madueke has refuted the claim that she recently refunded the sum of $153.3m, purportedly stolen from the Nigerian National Petroleum Corporation, NNPC to the Economic and Financial Crimes Commission (EFCC).

    The former minister who also reacted to other allegations leveled against her office while working with former President Goodluck Jonathan said the EFCC falsely attributed ownership of the said stolen funds to her person saying, “I have not and will never steal money from or defraud the Federal Government of Nigeria

    Her words, “am deeply disturbed and bewildered by recent media reports (Premium Times Thursday 12 January, 2017 and other dailies about the same time) claiming that by virtue of an order of the Federal High Court, I have forfeited to the Federal Government, the sum of $153.3m which I purportedly stole from the Nigerian National Petroleum Corporation, NNPC.

    First and foremost, whilst the reasons for my being out of the country are public knowledge, the principle of fair hearing demands that I should have been notified of formal charges if truly there was a prima facie evidence or indictment against my person linking me with the said issue, so as to ensure that I had adequate legal representation. This was never done.

    I wish to state that I cannot forfeit what was never mine. I do not know the basis on which the EFCC have chosen to say that I am the owner of these funds as no evidence was provided to me before the order was obtained and they have not in fact served me with the order or, any evidence since they obtained it.

    “As at the time of my writing this rebuttal (Thursday 19th January, 2017) the EFCC have still not furnished me or my Lawyers, with a copy of the order.

    “I am also informed by my lawyers that the legislation under which the EFCC obtained this order is for situations where the funds are believed to be the proceeds of crime and the owner is not known.

    “I do not therefore, understand how the EFCC can in the same breath say that the monies in question are mine. If they had evidence that the monies were mine then they would not /should not, have used the procedure which applies only to funds of unknown ownership.

    “If indeed they used this particular legal procedure because they did not know who owned the monies, then how can they now be falsely attributing the ownership to me(Annex-1A).

    “Let me re-state categorically as I have always maintained, for the record, I have NOT and WILL NEVER Steal Money from OR DEFRAUD the Federal Government of Nigeria. I am willing to respond to any charges brought against me that follow duly laid down procedures.

    “However, in their typical manner and style, the EFCC have gone to the media to attempt to prosecute their case as trial by TV and other media, rather than go through the onerous but tried and tested means of the Judicial Court process.

    ” In the face of the obvious falsification of facts and misinformation, it is only right and proper that the EFCC should publish the details of the $153.3M lodgements, the bank account numbers and the account beneficiaries, showing proof of my link to them.

    “Having also alleged that the said $153.3M was ‘wired’ from NNPC, the EFCC should also publish details of the NNPC accounts from where the said $153.3 million was taken from, with proof that I authorized such a transaction/transactions acting either in my private capacity or, as The Honourable Minister of Petroleum.

    Let me state for the record that as Minister of Petroleum, the operation and management of NNPC finances were outside my purview as outlined in both the Petroleum Act and the NNPC Act. The only involvement I had in NNPC Finances was in terms of statutory matters, where the Petroleum Act prescribed that as Minister, there were certain duties or actions which I had to perform or take in relation to NNPC.

    Read more of Diezani’s reactions on other allegations

  • Arms deal: Women, youths besiege EFCC to demand probe of Fayose

    Angry women and youths yesterday besieged the headquarters of the Economic and Financial crimes commission, EFCC to demand the immediate prosecution of Ekiti state Governor, Ayodele Fayose over his involvement in the arms probe deal.

    The protesters under the banner of Patrotic Mothers Without borders also urged President Muhammadu Buhari to intensify the anti-corruption campaign.

    They group carried various placards with inscription such as ‘Governor Fayose must go’, ‘he can’t continue to enjoy immunity’ said the EFCC should be up and doing.

    The leader of the group, Nnnenna Jideofor said, “The reality is that people are unanimous in desiring that the anti-graft agencies must not lose the anti-graft war.

    “This is why there are deep running concerns in the land that the Economic and Financial Crimes Commission (EFCC) has been caged but we do not want to believe this. We do not want to accept that the EFCC is merely making a show of fighting corruption.

    “Several developments contributed to the spread of this impression among Nigerians but our strong belief is that EFCC’s inability to do anything about the Ekiti State Governor, Ayo Fayose, publicly known beyond every shadow of doubt to have been a key suspect in the theft of money meant for purchasing weapons to fight Boko Haram terrorists, is the leading cause.

    “The Ekiti state governor and his accomplices have blood on their hands in addition to stealing public funds. They took part in stealing the money meant for buying arms to fight Boko Haram.

    “The crippling of the military’s fighting capabilities as a result of this have made some women widows and children orphaned.

    “What Nigerians are saying is that the EFCC can lose its cases against others that took part in the theft of the arms money simply on account that Fayose is being treated as one who is above the law thereby providing his collaborator with the excuse that the Ekiti state governor cannot be walking free as a direct beneficiary while they get punished as partakers.

    “His collaborators, former Minister of State for Defence, Musiliu Obanikoro, Senator, Iyiola Omisore and others have returned some money. The gravity of this crime does not permit that we wait indefinitely for Fayose to leave office.

    “He would have finished spending his share of the loot by then. Besides, this implies the EFCC would not have any exhibit on him again – he has all the time to destroy evidence and clean his track while terrorists continue to kill Nigerians because of his action.

    “The EFCC must again help Nigerians to test the law by immediately whisking Fayose before a competent court after his arrest for being part of those that instigated the arms purchase scandal. We do not see how the immunity granted him by the constitution was meant to protect governors from criminal liability especially where the case of theft is involved.

    “We must know what the compromise is. We demand how much of the funds meant for buying weapons found its way into their pockets and who paid them the bribes.

    “EFCC owes us as mothers, it owes us as Nigerians to reassure us that its refusal to arrest Fayose up till this moment is not the reason why it has become a relic, a shadow of the anti-corruption agency that was once dreaded for its efficacy” she added

    The spokesperson of the EFCC, Wilson Uwugiaren and a staff of the commission, Umaru Mohammed who received the letter of petition on behalf of the acting Chairman of the EFCC, Ibrahim Magu promised to follow it up and ensure that justice is done.

     

  • EFCC arrests Councilor, 4 others for stealing 300 bags of rice from IDP camp

    EFCC arrests Councilor, 4 others for stealing 300 bags of rice from IDP camp

     

    The Economic and Financial Crimes Commission, EFCC, has picked up a Supervisory Councillor for Agriculture in Mafa Local Government Area of Borno State, Umar Ibrahim and four others for allegedly stealing bags of rice donated by Danish Refugee Council, a Non-Governmental Organisation, to the Internally Displayed Persons in the council.

    The anti-graft agency in a statement by its spokesman, Mr. Wilson Uwujaren discloed that the arrest was consequent upon an intelligence report.

    Others arrested along with the councillor are: Bulama Ali Zangebe , Modu Bulama, Halilu Abdullahi and Abacha Ali.

    According to some of the suspects, the Caretaker Chairman of Mafa Local Government, Shettima Maina, allegedly instructed the sale of the rice to the duo of Alhaji Lawan Ibrahim of Bolori Stores and Umar Salisu at the rate of N8,500 per bag.

    Maina and two other suspects are still at large.

    Recall that World Food Programme had urged the EFCC to ensure transparency in the administration of relief to displaced persons.

    An Assistant Executive Director, WFP, Roberto DaSilva, urged the EFCC to ensure credibility and accountability in the disbursement of funds and purchase of food items to the North-East.

    In a related development, Governor Kashim Shettima of Borno State on Wednesday called for prosecution of persons who allegedly diverted 50 bags of rice meant for IDPs in the State.

  • EFCC invades OSOPADEC, whisks away chairman, three others

    EFCC invades OSOPADEC, whisks away chairman, three others

     

    Officials of the Economic and Financial Crimes Commission, EFCC on Wednesday invaded the Secretariat of the Ondo State Oil producing Area and Development Commission (OSOPADEC) Oba-Ile, Akure North Local Government whisking away the chairman, Pastor Johnson Ogunyemi and three others.

    Other arrested officials include; Dr. Dele Durojaye, Secretary of the commission, Sola Orisamoluwa and the Director of Finance, Vincent Ikuomola.

    Officials of the EFCC, who stormed the office around 12pm were said to have locked the main gate leading to the secretariat and headed straight to the office of the chairman.

    This was done in order to prevent people moving in or coming out of the office.

    The officials of the EFCC however spent about three hours in the offices of the four officials of the commission before leaving with them in a coaster bus and two hilux vans.

    It was gathered that the anti-graft commission officials, however, left with some files and documents with the four officers of OSOPADEC.

    Workers of the commission were seen gathering in groups discussing the arrest of the principal officers in hush tones.

    One of the workers who spoke on condition of anonymity said the arrest of the OSOPADEC officials might not be unconnected with the failure of the commission to pay students bursary in the last two or three years.

    He also said the arrest might be traced to the financial mismanagement of the officials of the commission.

    However, another staff of the commission linked the arrest of the OSOPADEC officials to a petition by interested stakeholders seeking for explanation on the commission’s spendings in the last eight years.

    He said “the Commission had failed to render its financial activities to the public in the last eight years and this might be one of the petitions against the commission before the EFCC,” the staff said.

  • Saraki Trial: Bank manager denies knowledge of document submitted by EFCC

    Saraki Trial: Bank manager denies knowledge of document submitted by EFCC

    The head of fund transfer unit of Guaranty Trust Bank (GTB) Nwachukwu Amazu on Wednesday denied knowledge of the documents his bank sent to the Economic and Financial Crimes Commission, EFCC on Senate President Bukola Saraki.

    ‎ ‎Nwachukwu, who is the second prosecution witness in the trial of Saraki at the Code of Conduct Tribunal (CCT), had on Tuesday testified that the accused person operated foreign bank accounts.

    He gave this testimony while being led in evidence by Rotimi Jacobs, the prosecution counsel.

    However, upon cross-examination by Paul Usoro, counsel to Saraki, the witness admitted that there was no evidence that the said accounts were the senate president’s.

    ‎However, when asked on Wednesday him to explain why he could not confirm the identities of the accounts, Nwachukwu said the documents confirming the transfer of funds were destroyed in an inferno, and that he did not see them prior to that time.

    When asked further how he got the documents sent to the EFCC, the witness said he was not the “officer responsible for the documents that were forwarded to EFCC”, and that he has “no knowledge of that “.

    The tribunal however adjourned the case to February 8 for continuation of trial.

     

     

  • Stop Magu from ‘posing’ as EFCC Chairman, Adegboruwa tells court

    Stop Magu from ‘posing’ as EFCC Chairman, Adegboruwa tells court

    A lawyer and rights activist, Ebun-Olu Adegboruwa, has urged a Federal High Court in Lagos to restrain Ibrahim Magu from parading himself as acting Chairman of the Economic and Financial Crimes Commission.

    In his new suit filed on Monday, Adegboruwa is also asking the Senate not to entertain any further request for the confirmation of Magu as the EFCC Chairman.

    The defendants in the suit are the Senate, the Attorney-General of the Federation, the EFCC and Magu.

    In a 39-paragraph affidavit deposed to by Adegboruwa, he traced the appointment of Magu back to November 9, 2015, contending that he had been functioning in acting capacity as EFCC Chairman beyond the six months allowed by law.

    Adegboruwa contended in his suit that since the Senate had rejected Magu as substantive chairman of EFCC, he could not thereafter be illegally functioning in acting capacity.

    Citing the provisions of Section 2 (3) of the EFCC Act, Adegboruwa argued that the section makes confirmation by the Senate, a condition precedent to the appointment of the EFCC chairman.

    He argued that since the provision of section 2 (3) of the EFCC Act was activated by forwarding the nomination of Magu to the Senate, he could not defy the decision of the Senate, which rejected him for the substantive appointment.

    Adegboruwa stated that notwithstanding the clear decision of the Senate not to confirm Magu, he has continued to parade himself in office as EFCC Chairman.

    He said that an example of such act was when he met with representatives of the United States Embassy on January 6, 2017, clearly defying the decision of the Senate.

    Adegboruwa is therefore, asking the court to restrain the EFCC and all other authorities, from recognising, treating or in any other manner, dealing with Magu as the Chairman of EFCC, either in acting or substantive capacity.

    He also seeks a declaration that given his conduct in office so far, he is not a fit and proper person to function in office as chairman of EFCC.

    Consequently, Adegboruwa is asking the court to give an order forthwith directing Magu to vacate and relinquish his office as EFCC Chairman, whether in acting or substantive capacity.

    The lawyer also wants the court to declare void, all actions taken by the EFCC under the tenure of Magu, especially charges and information preferred in court.
    No date has been fixed for hearing of the new suit.

  • Justice Ademola’s trial opens as first witness makes revelations

    The prosecution of Justice Adeniyi Ademola opened at the FCT High Court on Monday January 16, 2016, as the prosecution counsel lined up 14 witnesses to testify against him.

    The lead prosecution counsel, Mr Segun Jegede, told the court that he had 14 witnesses including officials of the Department of State Services (DSS), Zenith Bank and Guarantee Trust Bank who will testify in the case.

    The court proceedings commenced with the prosecution counsel addressing the court on the evidence with which he intends to prosecute the case.

    He also told the court that he had lined up 14 witnesses who will testify, apart from other evidences he wished to tender before the court.

    After his statement of evidence, the prosecution invited his first witness, a sales consultant to Coscharis Motors in Lagos who testified to have received payment of eight million naira from Joe Agi Associate for a BMW car.

    The prosecution then tendered the invoice for that transaction, including an original certificate of ownership to the court as part of his evidence

    The defence counsel, however, objected to the request by the prosecution to admit a written statement of the witness to the Department of State Services as part of evidence to tender before the court.

    After listening to arguments from the defence and prosecution counsel, the presiding judge adjourned to January 17 to rule on the objections.

    Both counsels to the defence and prosecution have applauded the decision of the court, describing it as a good start.

    Justice Adeniyi Ademola is standing trial over an allegation of bribery and illegal possession of firearms.

  • EFCC witness admits constructing houses, Mosque, Churches for Badeh

    EFCC witness admits constructing houses, Mosque, Churches for Badeh

    The 13th prosecution witness, Joseph Okpetu, told a Federal High Court on Friday that he renovated houses, built churches and mosque for former Chief of Defence Staff case, Alex Badeh.

    Okpetu, in his resumed testimony before Justice Okon Abang, said he constructed Badeh’s Yola mansions worth N150 million between 2008 and 2012.

    He said that he was contracted to renovate Badeh’s house, destroyed by Boko Haram insurgents in Vimtim village in the Mubi Local Government Area of Adamawa and was paid N50 million.

    “I also built a Mosque, renovated three churches and a civic centre meant for skills acquisition and was paid N100 million in three instalments by Air Commodore Yishau.

    Okpetu also said his company started dealing with the Nigerian Air Force far back in 2010, and had completed contracts in Kano, Kaduna, Yola, Markurdi and Abuja for the government.

    He stressed that out of the N50 million meant for the renovation, he was made to build a house for an officer in-charge of the Joint Task Force.

    “I used about N14 million and N15 million on the building of the officer house in Mubi on Badeh’s directive.

    “There was no award of contract from either the Army or the Navy for the construction of the house of the Officer-in-Charge,’’ he said.

    When asked if he knew the 2nd defendant, Iyalikam Nigeria Limited, he said “I don’t know Iyalikam Nigeria Limited, but I was paid N30 million from its account in 2015

    “We used the money for clearing of the perimeters in Badeh’s farm and imported materials then planted equipment at Akanciye in Nasarawa State.

    “During the tenure of Badeh, I constructed the dining hall of Air Force Comprehensive School, supplied generator and also built in Kano 18 by two, non-commissioned officers’ quarters.

    “We drilled borehole also in Makurdi Air Force Base,” Okpetu added.

    He further said that the share structure of one of his company Vim Plast Nigeria Limited are, three million naira to Alex Badeh (Jnr), three million naira to Kamtufa Badeh and four million naira to himself (Joseph Okpetu).

    He added that it was later changed in 2015 to six million naira to Joseph Okpetu, three million to Kamtufa Badeh, N500,000 to Victoria Okpetu, and N500,000 also to Architect Dan Williams.

    He said Kamtufa constructed a house in Kubwa, Abuja, adding that his father gave him the house as a contribution to the company.

    Okpetu, who was cross examined by Chief Akin Olujinmi (SAN), defence counsel, said he was detained and released by EFCC without spending a night.

    He also admitted that he was not psychologically stable while writing the statements in the absence of his lawyer.

    The witness added that he wrote and signed all statements he made on eight occasions when he was in the custody of the EFCC.

    The statements were tendered and admitted in evidence by Justice Abang as exhibit T89-T96, respectively.

    Abang also adjourned the matter till Jan. 25 and Jan. 26 for continuation of cross examination.

    The EFCC is prosecuting Badeh alongside a firm, Iyalikam Nigeria Limited, on a 10-count charge of money laundering bordering on alleged fraudulent removal of about N3.97 billion from the Nigerian Air Force’s account.

    The anti-graft agency accused Badeh of using the funds to buy and develop landed assets in Abuja for himself and two sons between January and December, 2013.

     

    NAN

  • Just in: Magu is not sacked or removed – EFCC

    Just in: Magu is not sacked or removed – EFCC

    The Economic and Financial Crimes Commission, EFCC, has maintained that its acting chairman, Ibrahim Magu, has not been sacked or removed as erroneously reported by a newspaper ( Not TheNewsGuru) on Saturday.

    The leading anti-graft agency Charged with the responsibility of investigation and enforcement of all economic and financial crimes laws in Nigeria, argued that the report was a lie as Magu remains the acting chairman of the agency.

    The agency via his official Twitter handle, @officialEFCC noted that ‘Magu Not Sacked!’

    In a similar, the presidency denied media reports that it has authorised the sack of Ibrahim Magu as the acting chairman of the Economic and Financial Crimes Commission, EFCC.

    The presidency made this known in series of tweets by Garba Shehu, the spokesman of President Muhammadu Buhari.

    Recall there was a media report that Magu has been redeployed back to Nigerian Police Force (NPF) in a move to pave way for a fresh person to be presented by President Buhari as the nominee to head the anti-graft agency before the Senate.

    It was also alleged that the Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami, has already issued a letter to Magu on the development and directed that he hands over to the Director of Operations in the Commission.

    Magu’s nomination was recently rejected by the Senate following allegation of graft levelled against him by the Department of State Security Service (DSS).