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The trial of suspected internet fraudster Ismaila Mustapha alias Mompha started today while he was admitted to bail.

Mompha inherited BDC coy from his father – EFCC witness

The Economic and Financial Crimes Commission on Friday closed its case in the N32.9 billion money laundering trial of an internet celebrity, Ismaila Mustapha (alias Mompha), before a Federal High Court in Lagos with the testimony of its 10th witness.
The trial of suspected internet fraudster Ismaila Mustapha alias Mompha started today while he was admitted to bail.

EFCC calls 10th witness in trial of internet celebrity Mompha

The prosecution on Friday closed its case in the N32.9 billion money laundering trial of an internet celebrity, Ismaila Mustapha (alias Mompha) before a Federal High Court in Lagos.
Mr. Haruna Momoh, a former managing director of the Pipelines and Product Marketing Company (PPMC), and his wife, Eileen have berated the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and accused it of mischief following its claim that it obtained an interim injunction to seize about N2.9 billion naira belonging to the couple. The ICPC said it traced the cash to bank accounts in Nigeria.

Former PPMC boss used wife to launder $700 million – witness tells court

Mrs Jane Asuquo, an Independent Corrupt Practices and Other Related Offences Commission (ICPC)’s witness, on Wednesday, told a Federal High Court, Abuja, that Haruna Momoh, former Managing Director, Pipelines and Products Marketing Company (PPMC), used his wife, Ochuko, to launder the agency’s 700 million dollars.
Ibrahim Magu

Suspended EFCC chief Ibrahim Magu writes presidential panel, denies all allegations

Suspended acting National Chairman of EFCC, Ibrahim Magu, has denied flurry of allegations against him, especially as published in the media since he was arrested on 16 June and hauled before Justice Ayo Salami panel probing the activities of the anti-graft agency.

Ibrahim Magu failed to account for interest on N550 billion recovered loot – panel

A prior presidential panel, which investigated the suspended acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, indicted him, a report has alleged.

EFCC: More troubles for Ibrahim Magu as new facts on re-looting of recovered funds,...

The suspended acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ibrahim Magu, may be facing fresh cases of alleged re-looting of funds recovered by the commission as well as bribery.

Food security: Group drums support for local rice production

The National Association of Bureau De Change (BDCs), Sokoto state chapter, has appealed to the Federal Government to deepen local rice production to achieve national food security.
The Economic and Financial Crimes Commissions has arraigned Senator Shehu Sani before a Federal High Court in Abuja.

Shehu Sani asked me to give four judges N1 million each – witness

Alhaji Sani Dauda, a prosecution witness, told a Federal High Court Abuja, on Monday, that Sen. Shehu Sani asked him to give N1 million each to four judges to ”help” his case.
The trial of suspected internet fraudster Ismaila Mustapha alias Mompha started today while he was admitted to bail.

Money laundering I never met with Mompha – witness

An Economic and Financial Crimes Commission (EFCC) prosecution witness, Abiodun Audu, in the ongoing trial of internet celebrity, Ismaila Mustapha, also known as Mompha, yesterday denied ever meeting him in the course of filing his company’s tax return.
The Economic and Financial Crimes Commission (EFCC) on Thursday in an FCT High Court in Maitama, re-arraigned a deputy director with the National Emergency Management Agency (NEMA), Emenike Umesi, for alleged misappropriation of N54.3 million.

EFCC arraigns BDC operators for laundering $1.6 million

The Economic and Financial Crimes Commission on Monday arraigned two Bureau de Change operators for allegedly laundering $1.6m, said to be proceeds of smuggling.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

MPC slashes interest rate to 12.5 percent

The Monetary Policy Committee (MPC) of Central Bank of Nigeria has reduced Monetary Policy Rate (MPR), to 12.5 per cent.
The Economic and Financial Crimes Commission, EFCC, Kaduna Zonal Office on Wednesday, May 20, 2020 secured a seven years prison term of one Sadiq Mustapha without option of fine, before Justice Mallong Peter of the Federal High Court, Kaduna for obtaining money by false pretence to the tune of N6,100, 000 (Six Million One Hundred Thousand) and operating illegal bureau de change.

BDC operator bags seven years jail term for fraud

The Economic and Financial Crimes Commission, EFCC, Kaduna Zonal Office on Wednesday, May 20, 2020, secured a seven years prison term of one Sadiq Mustapha without option of fine, before Justice Mallong Peter of the Federal High Court, Kaduna for obtaining money by false pretence to the tune of N6,100, 000 (Six Million One Hundred Thousand) and operating illegal bureau de change.

Lockdown: Bureaux de Change excited to resume

The Association of Bureau De Change Operators of Nigeria (ABCON) on Thursday said it had sensitised its members and put in place key measures and actions for COVID-19 prevention and control in readiness to resume operations.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

CBN resumes dollar sales for SMEs, school fees as naira falls to 450/$ at...

With gradual easing of the COVID-19 lockdown in Nigeria and elsewhere, Central Bank of Nigeria (CBN) says it has resumed provision of foreign exchange to all commercial banks for onward sales to parents wishing to pay schools fees and SMEs wishing to make essential imports needed to revamp economic activities across the country.

Nigeria’s central bank halts forex sales to bureaux de change

The Central Bank of Nigeria (CBN) has suspended sales of foreign exchange to Bureau de Change (BDCs) until the COVID-19 pestilence is over.
An employee shows US dollar banknotes at a foreign currency brokerage office in Khartoum on October 7, 2018. - Sudan slashed the official value of its currency against the US dollar by more than half on October 7, the third devaluation this year in the face of a mounting economic crisis. (Photo by ASHRAF SHAZLY / AFP)

Nigeria’s central bank rolls out new forex regulation

As the battle to save the Naira from a free fall ensues, the Central Bank of Nigeria (CBN) has resumed a weekly rate regulation, with independent money transfer operations ordered to sale at N376/$1 to banks while end-users will get the US Dollar at N380.
President Muhammadu Buhari and the Governor of Nasarawa State, Mr Abdullahi Sule, are meeting right now.

President Buhari receives report on impacts of coronavirus

President Muhammadu Buhari has directed the Presidential committee on the impacts of Covid-19 on Nigeria’s economy to ensure that investments and the business of government continue to run without hitches.
A lawyer walks through the compound at the Federal High Court in Ikoyi district in Lagos, Nigeria, May 8, 2018. REUTERS/Akintunde Akinleye

$2.2 million fraud: Court rules ex-NHIS boss has case to answer

The Federal High Court in Lagos on Friday dismissed the no-case submission filed by a former Executive Secretary, National Health Insurance Scheme, Dr Femi Thomas, in response to the $2.2m fraud charges filed against him by the Economic and Financial Crimes Commission.

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Governor Osagie: We do not stuff dollars in babaringa in Edo

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Governor David Nweze Umahi

Ebonyi governor urges President Buhari to increase Nigerian Army funds

Governor David Umahi of Ebonyi State, Friday, called on President Muhammadu Buhari to increase funding and logistics to the Nigeria Army, rather than contemplating sacking the Service Chiefs.
A security officer wearing a face mask to protect against the coronavirus stands outside the Canadian Embassy in Beijing, China on Aug. 6, 2020. Mark Schiefelbein-AP

Canadian sentenced to death on drug charges in China

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Fifteen passengers and a pilot have been reported dead after an Air India Express flight skidded off the runway at Calicut international airport in Kerala.

Many feared dead as Indian plane crashes

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