EFCC

By Uzair Adam Imam  

The Economic and Financial Crimes Commission (EFCC) has apprehended a clergyman in Ilorin, Prophet Adeniyi James, on allegations of defrauding a member of his congregation to the tune of N3.9 million. 

James, who serves as the General Overseer of Christ Apostolic Church (CAC), Freedom City Prophetic and Deliverance Ministry in Ilorin, was taken into custody by the Ilorin zonal command of the EFCC on April 2. 

Dele Oyewale, the head of media and publicity for the EFCC, revealed in a statement issued in Ilorin on Saturday, that the arrest came following a petition lodged by the victim, Oluwole Babarinsa.  

Babarinsa recounted in his petition that during a church programme in 2021, James purportedly had a divine revelation about his (Babarinsa’s) imminent travel abroad. 

According to Babarinsa, James engaged him in a conversation about his preferred destination, to which he responded, ‘Canada’.  

Subsequently, James allegedly informed him of a friend in Lagos who could facilitate his relocation to Canada, albeit at a cost of N1.7 million for processing and an additional N2.5 million for flight tickets and travel documents. 

In his quest to fulfil the purported divine directive, Babarinsa resorted to selling some of his assets and taking out loans, ultimately amassing a total of N3,980,000, which he handed over to the prophet.  

However, despite the substantial sum provided, Babarinsa alleged that James failed to fulfil his promises. 

“The petitioner stated that all efforts and entreaties to the suspect to refund his money yielded no positive result,” Oyewale said, relaying Babarinsa’s frustration with the situation. 

The EFCC spokesperson affirmed that following the arrest, investigations into the matter are ongoing, with plans to arraign the suspect in court upon completion of the inquiry.

By Haruna Chiroma

Binance is widely regarded as the largest cryptocurrency platform globally, facilitating billions of dollars in transactions daily. As of March 3 2024, it had over 179 million registered users across 100 countries and supported over 30 languages. Despite its prominence, this emerging financial institution operates with relatively lax oversight from financial regulatory agencies, unlike traditional financial institutions. This lack of stringent policing renders the platform vulnerable to illicit transactions. 

However, Binance also plays a significant role in fostering economic growth and providing earning opportunities for both digital natives and digital immigrants. Established in 2017, Binance rapidly gained widespread acceptance, particularly among digital natives, spreading rapidly like wildfire. 

Binance has encountered significant resistance from governments worldwide, citing concerns over its lack of transparency and regulatory issues. Numerous countries have completely banned Binance from their cyberspace, prohibiting transactions within their borders. These countries include China, Malaysia, Italy, Vietnam, the Philippines, Thailand, Australia, and several others. Despite all this, Binance is boldly embracing the wave of AI to stay competitive in the cryptocurrency market. 

The company has incorporated an AI token known as “Sleepless AI” into its platform, which is available on the Binance Launchpool. A visit to the Binance website indicates a listing of the top AI crypto tokens according to market capitalisation, with a market cap of over $7 billion and over $1.3 billion in trading volumes. 

Despite being banned from Japan, in 2022, Binance made determined efforts to re-enter the Japanese crypto market by expressing interest in acquiring Sakura, a Japanese crypto company. In another development, Binance sought a crypto license in Germany to facilitate transactions within the country’s crypto market, aiming to expand its presence across Europe. 

However, the crypto giant encountered regulatory hurdles from German financial regulators. In a prompt response, in March 2023, Binance announced the withdrawal of its license application. Following sanctions imposed on Iran, sidelining the country from traditional financial systems, Iran turned to Binance as an alternative gateway to financial institutions. Blockchain data reveals that between 2018 and 2022, Binance facilitated over $8 billion worth of transactions for Iranian firms. 

Banning Binance from a country does not necessarily prevent Binance customers from finding alternative means to conduct transactions within the banned country’s crypto market. The Wall Street Journal, published on August 2, 2022, stated that Binance successfully facilitated over $90 billion in transactions in one month within China’s crypto market. 

In the current digital age, blocking access to Binance is unlikely to be effective. Users can easily bypass restrictions by installing a Virtual Private Network (VPN) with a fleet of thousands of servers across many countries, choosing a server in a country where Binance operates, and accessing the platform with minimal effort. 

In 2021, Binance encountered regulatory challenges in Thailand, with the country’s financial authorities accusing the platform of operating without a license. This led to filing a criminal complaint against Binance with the Thai police. Later, Binance was finally banned from operations in Thailand.

Binance finds itself entangled in a legal dispute with US authorities, facing accusations of violating federal money laundering laws by neglecting to report more than 100,000 transactions deemed suspicious. Prosecutors argue that Binance serves as a prime environment for ransomware transactions (a cyberattack method that denies victims access to their computers until a specified ransom is paid via payment systems) and the exchange of payments for child abuse materials. In what appears to be an effort to resolve the matter out of court, Binance has opted for a plea bargain with US authorities. 

Under the terms of that agreement, Binance agreed to pay the US authorities a substantial fine of over $4.3 billion ($1.81 billion for criminal acts and forfeiture of $2.52 billion). Additionally, Binance plead guilty to sponsoring terrorism and involvement in money laundering. As part of the agreement, Binance has committed to operating within the legal framework and implementing monitoring mechanisms, as reported by Reuters on February 24, 2024. 

On February 24, 2013, NPR reported that the US Securities and Exchange Commission and Commodity Futures Trading Commission filed a lawsuit against Binance in court. The lawsuit was based on the absence of regulatory oversight, highlighting Binance’s operation without stringent policing akin to traditional financial institutions, artificially inflating trade volumes, and diversion of customer funds. 

Currently, Binance is engaged in a contentious dispute with the Nigerian government, which has resulted in the government blocking access to the platform. The government reportedly fined Binance a substantial sum of $10 billion, though the circumstances surrounding the fine are controversial. Users can circumvent the block by utilising a VPN, as previously discussed. Therefore, legalising and regulating the platform would be more prudent rather than the Nigerian government potentially losing billions in revenue through the backdoor. 

Given that Binance handles transactions in billions of dollars, I argue that it would be unwise to discard the benefits along with the drawbacks (“throwing a baby with the bath water”). Particularly in light of the high levels of unemployment among youths and the prevailing hardships in the country, many young people have discovered opportunities in the world of Binance. Therefore, rather than outright banning Binance from Nigeria, integrating it into its legal framework may yield better outcomes. 

As a short-term solution, Binance should be permitted to continue its operations in Nigeria under stringent control mechanisms established within the country’s legal framework, with critical oversight from entities such as the Central Bank of Nigeria (CBN), Economic and Financial Crimes Commission (EFCC), and other relevant authorities. 

For a long-term strategy, the CBN and EFCC, in collaboration with the Cybersecurity Department of the Federal University of Technology, Minna, should undertake high-impact research to be sponsored by the CBN and EFCC to develop a robust framework for regulating cryptocurrency operations in Nigeria. This framework should balance Nigeria’s legal system and economic growth objectives. 

Emphasising research and development is a globally recognised best practice for addressing societal challenges instead of relying solely on inter-ministerial committees, which may lack the necessary technical expertise, resources and research skills. 

Haruna Chiroma, Ph.D. Artificial Intelligence, wrote from the University of Hafr Al Batin, Saudi Arabia, via freedonchi@yahoo.com.

By Sabiu Abdullahi 

The Economic and Financial Crimes Commission (EFCC) is set to arraign the immediate-past governor of Anambra State, Willie Obiano, on Wednesday, January 24, before Justice Inyang Ekwo of the Federal High Court, Abuja. 

The charges involve alleged money laundering amounting to N4,008,573,350. 

The move comes following EFCC Chairman Ola Olukoyede’s commitment to revisiting abandoned high-profile cases, particularly those involving former governors and ministers. 

An inside source disclosed that Obiano is accused of transferring significant sums from security votes into different accounts, converting the money into dollars, and receiving it back in cash at various times.

EFCC’s lead counsel, Slyvanus Tahir, SAN, will lead the prosecution. Obiano faces nine counts, including allegations of indirectly transferring funds for purposes unrelated to Anambra State’s security affairs. 

The charges cite specific instances where funds were allegedly transferred to entities with no business relationship with the state government. 

EFCC spokesperson Dele Oyewale confirmed the upcoming arraignment, stating, “Yes, we’re arraigning Obiano tomorrow.” 

Obiano’s arrest in March 2022, immediately after leaving office, stemmed from corruption allegations related to the misappropriation of public funds, including the N5 billion Sure-P and N37 billion security vote. 

The EFCC claimed that part of the funds was diverted to finance political activities in the state.

By Sabiu Abdullahi 

The Economic and Financial Crimes Commission (EFCC) has dusted off long-dormant corruption cases against 13 former governors, with a staggering N772 billion hanging in the balance. 

This comes amidst investigations into an additional N81.6 billion allegedly looted from the Ministry of Humanitarian Affairs and Poverty Alleviation, revealing a renewed determination by the anti-graft agency to tackle high-profile financial crimes. 

Sources within the EFCC confirmed the agency’s renewed focus on these high-profile cases, some dating back over a decade. 

Among the ex-governors under scrutiny are prominent figures like Kayode Fayemi of Ekiti State, Ayo Fayose (also of Ekiti), Bello Matawalle (current Minister of State for Defence), and Chimaroke Nnamani of Enugu State. 

These cases involve a web of alleged financial misdeeds, including money laundering, fund diversion, and misappropriation of public funds. 

A senior EFCC official, who spoke on condition of anonymity, said, “I want to assure you that, as far as the commission is concerned, nobody is above the law. What the EFCC Chairman, Ola Olukoyede, has done since assuming office is that he has reviewed all the high-profile cases he inherited.”

The EFCC’s renewed drive extends beyond ex-governors. The agency is also investigating a separate $2.2 billion scandal involving individuals like former National Security Adviser Sambo Dasuki, the late media mogul Raymond Dokpesi, and ex-governor Attahiru Bafarawa. 

These individuals are accused of diverting and misappropriating funds meant for arms procurement during the fight against terrorism, raising concerns about national security and accountability. 

This aggressive anti-corruption push appears to be a marked shift under the new EFCC chairman, Abdulrasheed Bawa. Since taking office in 2021, Bawa has pledged to tackle corruption head-on, regardless of the individuals involved. 

The reopening of these high-profile cases is a potent signal of his intent, promising a potentially seismic shift in the fight against graft. 

Whether the EFCC can successfully navigate the legal complexities of these cases and secure convictions remains to be seen. 

However, the agency’s renewed focus on tackling high-level corruption offers a glimmer of hope for Nigerians yearning for accountability and a more transparent governance system. 

The coming months are likely to be pivotal, with close scrutiny on the progress of these investigations and the ultimate fate of the ex-governors and other individuals implicated in these multi-billion-naira scandals.

By Abdurrahman Muhammad

An Islamic human rights organisation, the Muslim Rights Concern (MURIC), has called on men of the Department of State Services (DSS) to set the former boss of the Economic and Financial Crimes Commission (EFCC), AbdulRasheed Bawa, free or charge him to court. 

Making the call on Thursday, 17th August, 2023, was the Executive Director of the Muslim Rights Concern (MURIC), Professor Ishaq Akintola. 

The full statement reads:

“Abdul Rasheed Bawa, former chairman of the Economic and Financial Crimes Commission (EFCC), has been in detention since 14th June 2023 without any explanation whatsoever. 

“This is contrary to the letter and spirit of Section 36 of the 1999 Constitution of the Federal Republic of Nigeria, which guarantees fair hearing in compliance with the judicial principle of audi alterem partem (i.e. hear from both sides to a case before taking a decision). Nigerians are yet to hear from the former EFCC boss. Neither have they heard from his lawyers.

“There should be no detention without trial in a democracy. It stands in contradistinction to Section 41 of the 1999 Constitution of the Federal Republic of Nigeria, which says inter alia, ‘Every citizen of Nigeria is entitled to move freely throughout Nigeria and to reside in any part thereof…’.

“Article 7(b) of the African Charter on Human and Peoples’ Rights also stipulates the right to be presumed innocent until proven guilty by a competent court or tribunal. To that extent, therefore, it must be assumed that Bawa is innocent.

“MURIC demands that he should be set free or brought to court where his charges will be read to him. He should also be allowed to see his lawyer, his personal doctor and key members of his family.

“If Godwin Emefiele, who traumatised all Nigerians for months, could be arraigned in court twice since his arrest, we wonder what special crime Bawa committed to have warranted his indefinite detention. Could it be because the former CBN governor has access to a bottomless pit of foreign and local currencies and he could therefore engage the best lawyers in the land while Bawa, a young aspiring Nigerian, cannot afford lawyers’ huge fees?

“MURIC, therefore, demands the enforcement of Allah-given fundamental human rights of AbdulRasheed Bawa. He should be set free or arraigned before a court of competent jurisdiction where he can be granted bail. 

“Our vision of Nigeria is that of a land where every man or woman is free from institutional, societal and individual coercion, a land where tyranny, oppression, injustice as well as political and socio-economic marginalisation become history.”

By Muhammadu Sabiu
 
Operatives of the Economic and Financial Crimes Commission (EFCC) in Ilorin have apprehended 13 Chinese nationals for illegal mining activities in Kwara State.
 
The EFCC revealed this via a statement on its social media handles on Friday evening.
 
According to the anti-graft body, “the offence is contrary to and punishable under Section 1(8) (b) of the Miscellaneous Offences Act Cap M17, 1983.”
 
This paper understands that the suspects, who include a female and 12 males, were detained on Wednesday, July 12, 2023, at the Government Reserved Area, G.R.A. Ilorin, after obtaining reliable information about their unlawful activities, which included illegal mining and failure to pay royalties to the Federal Government as required by law.
 
The EFFC’s statement further reads, “Prior to their arrest, discrete investigations on the activities of illegal mining operators in Kwara State revealed that the operators have different illegal mining sites in almost all the 16 Local Government Areas of the state.”

–News Desk

Following Tuesday, June 14, 2023, suspension of Mr. Abdulrasheed Bawa, as Executive Chairman of the Economic and Financial Crimes Commission by the Federal Government, Mr. Abdulkarim Chukkol has stepped in as Acting Chairman of the Commission.

Until this new role, he was the Director of Operations of the Commission.

A pioneer staff of the Commission and an illustrious member of the EFCC Cadet Course One, Mr. Chukkol is a consummate and vastly experienced investigator with speciality in cybercrime and money laundering.

His Command appointments in the Commission include spells as Head of the Advance Fee Fraud and Cybercrime Sections of the Lagos and Abuja Zonal Commands between 2011 -2016, pioneer Commander of the Uyo Zonal Command in 2017 and Commander of Port Harcourt Zonal Command in 2020.

Chukkol has participated in several special operations with international law enforcement organizations and maintains close relationships with Law enforcement agencies such as the FBI, UK National Crime Agency, United States Postal Inspection Service (USPIS), United States Secret Service, Australian Federal Police, Dutch Police, German Police, South African Police etc.

The acting EFCC Boss has worked closely with other Governments to develop law and infrastructure for carrying out law enforcement actions. He is Nigeria’s Contact person at the International Mass Marketing Fraud Working Group representing key Government regulatory, law enforcement, prosecution, immigration and customs, financial intelligence, and consumer protection agencies as well as trade and competition bureaus dealing with mass marketing-related issues from Spain, Nigeria, Belgium, Europol, Canada, United Kingdom and the United States.

He has attended several courses, seminars and workshops on Public Corruption, Advance Fee Fraud and other economic and financial crimes both locally and internationally, including the Oxford University, United Kingdom, in 2022.

His work and initiatives over the years have earned him several awards and commendations both locally and internationally, including “the Most Outstanding Award in Operations” by the EFCC and the “Outstanding Performance Award” by the United States Department of Justice, among others.

The acting EFCC Chairman holds a bachelor’s degree in Agricultural Economics from the University of Maiduguri (2000) and Post Graduate Certificate in Criminal Justice Education from the University of Virginia, United States as well as Graduate Diploma in Cybersecurity and Spectrum Management from the United States Telecommunication Training Institute, Washington DC, United States.

He is also an alumnus of the FBI National Academy, Quantico; European Center of Security Studies, Germany and a Fellow of the War College, Nigeria.

By Ahmad Deedat Zakari

The Economic Financial Crimes Commission, EFCC, has cried out over a siege on their office by the Department of State Services, DSS

In a press statement released by the Commission on Monday, they alleged that the DSS denied their operatives and members of staff access to their office at No.15 Awolowo Road, Ikoyi.

They said the DSS barricaded the entrance of their facility with armoured personnel carriers.

The Commission described the development as strange, stating that the Commission and DSS had cohabited in that facility for 20 years without issues.

The EFCC also made it known that the development has disrupted their activities and has wider implications on the fight against corruption.

“By denying operatives access to their offices, the Commission’s operations at its largest hub with over 500 personnel, hundreds of exhibits, and many suspects in detention have been disrupted.
Cases scheduled for court hearing today have been aborted, while many suspects who had been invited for questioning are left unattended.
Even more alarming is that suspects in detention are left without care with grave implications for their rights as inmates.
All of these have wilder implications for the nation’s fight against economic and financial crimes,” part of the statement reads

As at the time of writing this report, the DSS is yet to give reasons for the siege.

By Aisar Fagge
 
A conglomeration of about 107 Anti-Corruption crusade groups led by Crime and Corruption Monitors, has impressed on the incoming administration of President-elect, Bola Ahmed Tinubu to ensure the Economic and Financial Crimes Commission (EFCC) is cleaned of entrenched corrupt leadership symbolized by its current Chairman Abdulrasheed Bawa.

This follows a protest by the Anti-Corruption crusade Conglomerate, which was terminated at the Youths Sports Complex, Lagos.

The groups pointed out that EFCC is an important government agency in Nigeria, established primarily to rid the society of corruption and not conceived as an agency for settling scores for political godfathers.

The convener of the conglomerate, Idowu Bello who read the statement in Lagos warned that “If a government agency expected to fight crime is found going about its business in a manner that mimics witch-hunt and selective justice while also being unable to deal with the corruption going on within its own workforce, the nation is headed for real time crises, conflict of confidence.”

He noted that despite government’s claim of making the fight against corruption and related practices a top priority, EFCC, the agency charged with the execution of the war, is in questions over mounting allegations of monumental corrupt practices.

“Allegations that about 80 per cent of cases under EFCC investigation are not taken to court. EFCC offices now literally serve as courtrooms.

“Last week, Zamfara state governor, Bello Matawalle, alleged that Bawa demanded the sum of $2million from him as bribe to stop a purported probe against him.   

“Even before Abdulrasheed Bawa was presented as substantive EFCC Chairman, he has been arrested and detained by the anti-graft agency in 2019 for selling at least 244 trucks worth between N20-30 million each to his proxies at N100,000 per unit.

“He is also accused of recently expanding a large amount of money to the tune of $300,000 for hotels and other activities, which is far and beyond his income as civil servant, during a visit to Mecca with his family on a lesser Hajj.

“There are also allegations of connivance with the Attorney General of the Federation,  Abubakar Malami in auctioning of sea vessels holding crude oil seized by the Federal Government, violating Section 31(2) and (4) of the EFCC Act 2004.”

According to him, Malami and Bawa also allegedly authorized the sale of vessels by companies under EFCC prosecution for similar offence of illegal bunkering.

“Bawa and Malami were fingered in the discontinuation of a N25billion criminal charge against Senator Danjuma Goje without any justification after over seven years of diligent investigation and prosecution.

“Equally, the incident of Abel Isah, an EFCC cadet in Sokoto who was allegedly beaten to death by superior officers for refusing to sign off on incomplete exhibits is still fresh in the minds of Nigerians,” the statement read.

The Crusaders however, demanded the immediate sack of Bawa as EFCC Chairman and to be subjected to wholistic probe the way his predecessor Ibrahim Magu was treated.

“Like every other agency of government everywhere, there are global standards of practice  for officials who had been accused of gross misconduct to step aside while investigations were conducted to ascertain the veracity of the allegations.

“As pointed out earlier several eminent eminent Nigerians have claimed to possess evidence of corrupt practices, breach of public trust and abuse of office against the EFCC and its Chairman, Abdulrasheed Bawa.

“It is based on the above observations that the Crime and Corruption Monitors and 107 Anti Corruption Crusade Groups deem it necessary to demand that Abdulrasheed Bawa excuses himself from office and surrender for investigation.

“We demand that if Bawa remains adamant,  he be forced out and subjected to comprehensive probe  the way his predecessor Ibrahim Magu was made to do.

“Since it is obvious by now that the Buhari administration which brought Abdulrasheed Bawa is not disposed to initiating action, we call on the incoming President Bola Ahmed Tinubu to make it first priority to cleanse the EFCC of corrupt leaders.

“Corruption is one of the most serious social and security challenges facing Nigeria today which is the more reason why Tinubu should see it as an existential matter that needs to be addressed and tackled robustly and defeated once for all.

“No nation can aspire to greatness or seek to remain secure and safe when corruption and other corrupt practices are allowed to find their way into all its vital institutions including the agency saddled with the responsibility of fighting it.

They added that, for this reason, corruption must be confronted  with the entire will and resolve of the incoming administration beginning with thorough cleansing of the EFCC by first getting Bawa out and subjecting him to probe before extending action to cover other organs and tiers of government in Nigeria without exception.

“Failure to do so will indubitably mean that every effort made the anti-graft agency is headed by suspicious leaders will defeat all development endeavours of the incoming administration and render its task the more difficult and futile.

“We remind the President-elect that National challenges such as the corruption we are faced with should not be treated with levity and condescension. Neither should action be limited to targeted individuals or tiers of government. On the contrary, corruption is a cross-national issue that affect every one of us regardless of where we live or come from,” the statement read.

By Uzair Adam Imam

The Chairman of the Economic and Financial Crimes Commission (EFCC), Abdurrashid Bawa, and Governor Bello Matawalle of Zamfara state continue to trade words over corruption allegations.

The anti-graft agency chairman challenged Matawalle to expose him if he has any fraud record against him.

Bawa has thrown this challenge against Matawalle in an interview with the BBC Hausa Service on Thursday.

He added that even though no human being was 100 percent clean, he would love it if Matawalle could expose him.

The Daily Reality reported that Matawalle was currently under investigation over alleged N70 billion fraud.

The EFCC chairman stated that it was intriguing that Matawalle would want to take on the role of a supervisor, who tells the EFCC whom to investigate.