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Tag: fraud

  • Alleged fraud: Court adjourns NBA President’s arraignment till December 18

    Alleged fraud: Court adjourns NBA President’s arraignment till December 18

    A Federal High Court in Lagos has adjourned till December 18, for the arraignment of the President of the Nigerian Bar Association (NBA), Mr Paul Usoro (SAN), for an alleged N1.4billion fraud.

    Justice Muslim Hassan fixed the date to enable the Economic and Financial Crimes Commission (EFCC) serve Usoro with the charge sheet for the alleged offences.

    Usoro, who appeared in court in person with a retinue of senior lawyers, had urged the judge through his lead counsel, Chief Wole Olanipekun SAN, to direct the EFCC to serve him in court.

    But this was resisted by EFCC counsel, Mr Rotimi Oyedepo.

    The anti-graft agency, in a charge marked FHC/418c/18, alleged that Usoro, from Akwa Ibom, converted and laundered the money in connivance with his state Governor, Udom Emmanuel.

    The charge sheet, signed by EFCC Counsel, Mr Rotimi Oyedepo, did not list Emmanuel as a defendant.

    The EFCC indicated that he is “currently constitutionally immuned against criminal prosecution”.

    It did, however, mention four other defendants.

    They are: Nsikan Nkan, described as Commissioner for Finance, Akwa Ibom State; Mfon Udomah, described as the Accountant-General of Akwa Ibom State; Uwemedimo Nwoko, described as the Akwa Ibom State Attorney-General and Commissioner for Justice; and Margaret Ukpe, all of whom are said to be at large.

    The commission alleged that Usoro, in connivance with the others mentioned, conspired to commit the offence “sometime in 2015 within the jurisdiction of this honourable court”.

    The anti-graft agency claimed that the N1.4bn belonged to the Akwa Ibom State Government.

    According to Oyedepo, the offences were contrary to Section 18 (a) of the Money Laundering (Prohibition) Act, 2011 and punishable under Section 15(3) of the same Act.

     

  • Alleged N1.4bn fraud: NBA President has a case to answer – EFCC

    The Economic and Financial Crimes Commission (EFCC) says the President of the Nigeria Bar Association (NBA), Paul Usoro (SAN), has a case to answer over alleged N1.4 billion fraud.

    This was disclosed by EFCC’s Acting Spokesman, Mr Tony Orilade in Abuja on Friday.

    Orilade said that: “indeed, the EFCC had invited Usoro in June this year, to explain his role regarding the inflow of N300 million from the Akwa Ibom State Government’s Account into the account of Paul Usoro Chambers, PUC.”

    “Usoro was also questioned on the aggregate inflow of N1, 110,000,000 from the state government’s account into the bank account of PUC.

    “From the foregoing and in line with the mandate of the commission, the SAN, definitely has questions to answer before a competent court of jurisdiction on allegation of money laundering.

    “No amount of intimidation and or razzmatazz can stop the commission from carrying out legitimate assignment of investigation and prosecution of financial impropriety.

    “Under interrogation, Usoro had claimed that the various sums of money received from the Akwa Ibom State Government, under the administration of Governor Udom Emmanuel were payments for “legal fees” to him.

    “The payment was also to other eminent members of the Inner Bar and a host of other members of the Outer Bar that I had engaged to work with me in respect of the Election Petition matter involving the governor,” he said.

    Usoro was further quoted to have stated that the payments were “independent transactions and that the Akwa Ibom government’s payments on the account were in respect of my Firm’s professional services to it, while the payments to the senior counsel were made by me for and on behalf of Governor Emmanuel Udom at his request.

    “While we do not intend to engage the learned silk on the pages of newspapers, on media landscape, the EFCC wishes to state that it does have regard for the Rule of Law and in this regard, the said “client-lawyer privilege”.

    “But it should be stated that what is at stake, is the legitimacy of the source of the money used for the various payments.

    “It is worth reiterating that while the EFCC has “Special Powers” to investigate suspicious financial transactions, Section 18 (d) of the EFCC Establishment Act 2004, empowers the commission to investigate and prosecute any person, who engages in the concealment or disguise of the true nature, source, location, disposition, movement, rights, with respect to or ownership of property knowing such property is derived from any offence referred under this Act commits an offence.

    “From all intent and purposes, payment of over N1.4 billion to Usoro from the accounts of Akwa Ibom government for unofficial transaction, is nothing short of criminal diversion of public funds,” he said.

  • EFCC charges NBA president with N1.4bn fraud

    EFCC charges NBA president with N1.4bn fraud

    The Economic and Financial Crimes Commission (EFCC) has charged the President of the Nigerian Bar Association, Mr Paul Usoro (SAN), with an alleged fraud of N1.4bn.

    Usoro was charged before the Federal High Court in Lagos.

    The charge sheet, marked FHC/418c/18, was filed before Justice Muslim Hassan.

    The judge has fixed December 10, 2018 for the arraignment of the NBA President.

    In the charge sheet, sighted on Wednesda, the EFCC claimed that Usoro converted and laundered the money in connivance with the governor of his state, Governor Udom Emmanuel of Akwa Ibom State.

    Emmanuel was however not listed as a defendant in the charge, as the EFCC indicated that he is “currently constitutionally immuned against criminal prosecution”.

    Also mentioned in the body of the charges were one Nsikan Nkan, described as Commissioner for Finance, Akwa Ibom State; one Mfon Udomah, described as the Accountant General of Akwa Ibom State; one Uwemedimo Nwoko, described as the Akwa Ibom State Attorney General and Commissioner for Justice; and Margaret Ukpe, all of whom were said to be at large.

    The EFCC claimed that Usoro in connivance with the others mentioned conspired among themselves to commit the offence sometime in 2015 “within the jurisdiction of this honourable court”.

    The anti-graft agency claimed that the N1.4bn allegedly converted and laundered by the defendants belonged to the Akwa Ibom State Government.

    Counsel for the EFCC, Rotimi Oyedepo, who signed the charge sheet, said in the charge sheet that the offence allegedly committed by the NBA President was contrary to Section 18 (a) of the Money Laundering (Prohibition) Act, 2011.

    He added that the SAN is liable to be punished under Section 15(3) of the same Act.

     

  • Police arraign Pastor for alleged N1.5m monthly contribution fraud

    Michael Udom, a 52-year-old pastor at Pinnacle of Praise Church, Lagos, on Tuesday appeared before an Ikeja Magistrates’ Court for allegedly defrauding his church members of N1.5 million on the pretext of coordinating a monthly contribution.

    Udom, whose lives on No. 76 Ikorodu Rd., Fadeyi, Lagos, is charged with three counts of conspiracy, fraud and stealing.

    The prosecution alleged the accused obtained a sum of N1.5 million from one Sylvia Nnamdi and Alfred Olugbenga, under the pretences of being a pastor and coordinator of one Ajor Thrift Association, a representation he knew to be false.

    Police Sgt. Michael Unah told the court that the accused committed the offences with other two still at large sometimes in May at Fadeyi in Lagos.

    He said the accused, who portrayed himself as a pastor and the coordinator of the Ajor Thrift Association to the complainants, convinced them to join the contribution but converted the sum of N1.5 million to his own personal use.

    Unah said that the accused refused to give the complainants the money when it was their turn to collect.

    The accused, however, pleaded not guilty to the charge.

    The Chief Magistrate, Mr A. A. Fashola, admitted the accused to bail in the sum of N200,000 with two sureties in like sum.

    Fashola ordered that the sureties must be gainfully employed with an evidence of three years tax payment to the Lagos State Government and have their addresses verified by the court.

    He also ordered that the sureties must be blood relations of the accused and also reside within the court’s jurisdiction.

    The offences contravened Sections 287, 314 and 411 of the Criminal Law of Lagos State 2015, (Revised).

    Section 314 prescribes a 15-year jail term for false pretenses while section 287 provides seven years for stealing.

    The Magistrate adjourned the case until Jan. 22 for mention.

     

  • DSS parades fake Aisha Buhari over N150m fraud

    DSS parades fake Aisha Buhari over N150m fraud

    The Department of State Services (DSS) yesterday paraded a woman, Amina Mohammed, for impersonating Hajia Aisha Buhari, wife of the President Muhammadu Buhari, to defraud unsuspecting Nigerians.

    Addressing newsmen, DSS spokesperson, Peter Afunanya, said that Amina had disguised as Aisha Buhari to defraud a Lagos-based business mogul of N150 million.

    There was, however, mild drama during the parade at the headquarters of the DSS, when Amina, also known as Justina Oluoha and Amina Villa, who initially refused to appear before newsmen, shouted that she was not alone in the cartel. Shouting and weeping, she alleged that Aisha Buhari’s sisters and a former Secretary to the Government of the Federation (SGF), among others are accomplices.

    Afunanya said: “The importance of this conference is to unveil the identity of a suspect that had an unauthorized access to the Aso Rock Presidential Villa and used the Office of the First Lady to engage in a fraudulent act. The woman, who is being paraded, has adopted various aliases and used the same false identities to defraud several unsuspecting persons before she was discovered.

    “Amina Mohammed, also known as Justina Oluoha and Amina Villa, had on November 22, 2017, paraded herself as the First Lady of Kogi State.

    “She used the false identity to evade protocol and scrutiny thus gaining unauthorized access into the Villa, and particularly the residence of the First Lady and wife of the president, Hajia Aisha Buhari. She took advantage of the fact that personalities such as first ladies, ministers and certain categories of officials are not taken through rigorous protocol and security checks at the Villa posts.

    “What may even surprise you is that Amina, whose phone number is registered with the name, Amina Villa, had on the said date invited (names withheld) into the Villa wherein she made him believe the invitation was at the instance of the First Lady.

    “Investigation has revealed that the First Lady was away on lesser hajj and not in the Villa during the period. The businessman had complained that he was fleeced of over N150 million in respect of a Court of Appeal property in Lagos, which Amina had promised to help him buy through the First Lady.

    “The property was said to have been part of those under the Presidential Implementation Committee on Lease of Federal Government Properties. Investigation has shown that this unholy enterprise is not to the knowledge of the First Lady. What Amina simply did was to use the First Lady’s name and office as bait to lure and defraud her victims.

    “Members of the public are advised to be wary of individuals or groups that drop names and offices of high government officials to defraud them.”

    Narrating her own side of the story, she said: “The DSS did not arrest me, I came here on their invitation. I am not a fraudster; the sisters of the First Lady are involved in this business. I cannot accept this allegation.

    “The former SGF, is involved in this fraud. Aisha’s sister is involved. I did not dupe him because he usually gave bribe to buy Federal Government property. The directors in the ministry have been involved in getting bribe before bidding is concluded.

    “He knows the process and taking him into Villa was not an attempt to defraud him but because Aisha’s sister was involved. I cannot allow anybody to put me to shame to the whole world.”

    Asked if she has entered the Villa, she replied: “Ask the First Lady’s sisters, ex-SGF is involved. Leave me alone.”

  • Fraud: EFCC secures court order for bank to forfeit unclaimed N1.7 billion to FG

    The Economic and Financial Crimes Commission (EFCC) has secured a court order for final forfeiture of N1.7 billion traced to a new generation bank with no known depositor to the Federal Government.

    The court order followed the absence of refutal of the fact presented before it by the anti-graft agency in its application dated September 11, 2018.

    The EFCC in suit no FHC/L/ CS/1349/2018 had approached a Federal High Court sitting in Lagos to seek the final order of forfeiture of the sums of N1, 260, 000, 000.00, $327, 132.35, 167.85 euro and 157.00 euro suspected to be proceeds of unlawful activities to the Federal Government.

    EFCC had joined the bank and an electronic company as respondents in the suit.

    Granting the order, the presiding judge, Justice (Prof) Chuka Austine Obiozor noted that Section 44 (2) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) made it permissible for property to be forfeited in a non-conviction based forfeiture process in accordance with the law.

    According to Justice Obiozor, “the key point to underscore here is that the commission has a duty to demonstrate prima facie proof before the court to discharge the onus of proof on it. Thereafter, the evidential burden of asserting the contrary, namely that the properties concerned are not proceeds of unlawful activity shifts to the respondent.

    “Now, I have carefully appraised the affidavit in support of the motion for the final forfeiture, which is not controverted.

    I note that the position of the law is that absence of refutal of the facts therein by the respondents, tantamount to admission on their parts of the depositions.”

    He also pointed out that the respondents neither filed any response nor participated in the proceedings in spite of proof service of the originating motion on notice and hearing notice.

    Although the presiding judge said that he was unmindful of the principle that the fact that an action was not opposed would not justify the court’s misapplication of the law, expressed satisfaction that the anti-graft agency succeeded in establishing a prima facie case in keeping with established principles.

    “In the final analysis and for the reasons adduced above, by order under the hand of this court the sums of money, to wit: N1, 260, 000, 000.00, $327, 132.35, 167.85 euro; and 157.90 euro found by the commission in the custody of the respondent, being sums reasonably suspected to be proceeds of unlawful activities captured in account numbers 5133316817, 2100000477, 2100000446, 2100000484, 2100000491, 2100000453, 2100000460, 5100000499 and 5100005002 be and are here by forfeited to the Government of the Federation of Nigeria,” he ruled.

  • JUST IN: EFCC quizzes ex-Abia gov, Theodore Orji over alleged N27bn fraud

    JUST IN: EFCC quizzes ex-Abia gov, Theodore Orji over alleged N27bn fraud

    The immediate past Governor of Abia State, Senator Theodore Orji, is currently being interrogated by the Economic and Financial Crimes Commission (EFCC).

    It was learnt that Orji, who was governor from 2007 to 2015, arrived at the EFCC office in Abuja, along with his lawyer, in a cream long-sleeve Niger Delta outfit popularly referred to as ‘senator.’

    Orji, who represents Abia-Central senatorial district at the National Assembly, was invited over allegations that he mismanaged about N27bn.

    According to a report by The Punch, the invitation was sequel to a series of petitions written against the former governor shortly after he left office in 2015.

    The EFCC was said to have commenced investigation soon after, but was waiting for enough evidence before inviting him.

    Among the allegations levelled against the former governor was that he diverted billions of naira disbursed to Abia State by the Central Bank of Nigeria for Small and Medium Enterprise.

    The lawmaker was also alleged to have diverted money from the Ecological Fund account, which should have been used in tackling erosion and other disasters peculiar to the state.

    The ex-governor allegedly diverted money from the Abia State Oil Producing Development Area Commission, an agency of government set up for the development of the oil producing areas in Abia State

    Orji allegedly used the funds to buy properties in Abia, Port Harcourt and Abuja, some of which the EFCC is planning to seize.

    It was learnt that officials from the Office of the Attorney-General of the Federation, the Central Bank of Nigeria, commercial banks and other agencies had been invited by the EFCC to make statements on the governor’s case.

    As of the time of filing this report, he was still said to be at the Commission making statements.

  • Alleged N2.2bn fraud: Fayose’s trial begins today

    Hearing will today (Monday) commence in the trial of the immediate past Ekiti State Governor, Mr Ayodele Fayose, who was charged with an alleged N2.2bn fraud by the Economic and Financial Crimes Commission.

    The EFCC arraigned Fayose, alongside a firm, Spotless Limited, on October 22, 2018 before the Federal High Court in Lagos, six days after he bowed out of office as governor.

    The 11 counts pressed against him bordered on criminal breach of trust, theft and money laundering.

    But Fayose and Spotless Limited pleaded not guilty to the charges.

    Following an application by his lawyer, Chief Kanu Agabi (SAN), a former Attorney General of the Federation, Justice Mojisola Olatoregun admitted Fayose to bail in the sum of N50m.

    She adjourned till November 19, 2018 for commencement of trial, stressing that the case would be heard on a day-to-day basis in line with the provisions of the Administration of Criminal Justice Act, 2015.

    In the charges, the EFCC alleged that on June 17, 2014 Fayose “took possession of the sum of N1, 219, 000,000 to fund your 2014 gubernatorial campaign in Ekiti State, which you reasonably ought to have known formed part of the proceeds of an unlawful act, to wit: criminal breach of trust/stealing.”

    He was also accused to have, the same day, “received a cash payment of $5,000,000 from Senator Musiliu Obanikoro, the then Minister of State for Defence, which sum exceeded the amount authorised by law.”

    In another count, Fayose was accused of “taking control of an aggregate sum of N317,000,000,” which he allegedly deposited into the bank account of Spotless Limited, “a company controlled by you and your family.”

    He was also accused of “using an aggregate sum of N1,151,711,573 to acquire chalets 3 and 4, and 5 and 9 of the property situate at Plot 100 Tiamiyu Savage Street, Victoria Island, Lagos in the name of JJ Technical Service.”

     

  • Electronic fraud in banking hits N6.1trn by 2021 – CBN

    Mr Sunday Salam-Alada, Director, Consumer Protection Department, Central Bank of Nigeria (CBN) has said electronic fraud losses in the banking system are projected to reach N6.1 trillion by 2021.

    Salam-Alada disclosed this at the ongoing workshop for Business Editors and Finance Correspondents, organised by Nigeria Deposit Insurance Corporation (NDIC) in Benin.

    According to him, the volume and value of e-transactions is projected to continue to increase nationally and globally.

    Salam-Alada, represented by Mr Ibrahim Hassan, Director, Research, Policy, International Relations Department (RPIRD) NDIC, said it was due to broader ecosystem scope, evolution of channels, adaptability to disruptive innovations and modes payment.
    He said other reasons included increased inclusion and evolving technologies.

    The director also said that the CBN, through its Consumer Protection Department (CPD), had resolved over 13,715 complaints.

    Salam-Alada added that this resulted in the refund of about N72.2 billion to customers by the commercial banks based on 25,043 cases of fraud in 2017.

    He said the amount represented a 28 per cent increase if compared to 19,531 cases recorded in 2016.

    Salam-Alada said there was a 24 per cent reduction in actual fraud loss value in 2017 with N1.63 billion as against the to 2016 figures.

    According to him, the statistics provided by the CBN shows there is a significant increase in the year-on-year volume and value of transactions across all payment channels in Nigeria.

    Consequently, 1.4 billion transactions with a value of N97.4 trillion were processed in 2017 as against 869 million transactions with a value of N69.1 trillion recorded in 2016.

    He said the increase of 59.7 per cent and 40.9 per cent were recorded in the volume and value of transactions in 2017.

    The director hinted that the CBN would soon issue a framework on consumer protection.

    Salam-Alada said the CPD conducted a mapping exercise of financial literacy activities in the country.

    He added that it was one of the achievements of the department.

    He said the achievements also included the biannual consumer protection compliance exams and review of the guide to banks’ charges.

  • EFCC re-arraigns Ladoja over alleged N4.7bn fraud

    The Economic and Financial Crimes Commission (EFCC) on Monday re-arraigned former Oyo State Governor Rashidi Ladoja over alleged N4.7 billion fraud.

    The re-arraignment followed an amendment of the charge by the EFCC.

    Ladoja was charged with converting N4.7 billion from the state treasury to his personal use.

    He was re-arraigned along with his former Commissioner for Finance Waheed Akanbi, on 11 counts of money laundering and unlawful conversion of public funds.

    They however, pleaded not guilty to the charges.

    In the amended charge, EFCC added that Ladoja allegedly “compelled” a broker to sell the state’s shares.

    The prosecution alleged that the former governor did not remit the N1.9 billion realised from the sale of the shares.

    The commission told the court that the money allegedly went to Ladoja, his family and friends and was not refunded.

    EFCC had closed its case before the amendment, but rather than open their defence, the accused opted to file no-case submissions.

    Moving the no-case submissions on Monday, Ladoja’s lawyer, Mr Bolaji Onilenla, said EFCC did not establish a prima facie case against his client.

    During trial, a prosecution’s witness, Mr Abubakar Madaki, an EFCC Investigator, had testified that the shares, worth N6.6billion, were sold without the state executive council’s resolution.

    According to the investigator, Ladoja engaged Fountain Securities as a portfolio manager to sell the shares at a discounted rate, adding that the shares were acquired by McLace Securities.

    However, Ladoja’s counsel had faulted Madaki’s evidence, arguing that there were no complaints by the state that the shares were sold illegally.

    “We urge the court to hold that there was no prima-facie case against the first defendant and we urge the court to discharge and acquit him accordingly,” Onilenla said.

    Counsel for Akanbi, Mr Adeyinka Olumide-Fusika (SAN), said what the prosecution witnesses testimonies were not sufficient to ask the accused to enter a defence.

    “We urge the court to uphold the no-case submission of the second defendant,” he said.

    But the prosecutor, Mr Olabisi Oluwafemi, urged the court to order the accused to open their defence.

    He said the evidence given by the prosecution witnesses had raised several questions for which the accused persons should be called upon to answer.

    Justice Mohammed Idris adjourned until November 12 for continuation of hearing.