Over 211 million Pounds, belonging to late Head of State, General Sani Abacha, have been seized from a Jersey bank account, according to latest reports. According to the reports, General Abacha allegedly laundered money through the US into the Channel Islands and the funds had been lodged in accounts held in Jersey by Doraville Properties…
Kenya's President Uhuru Kenyatta has announced that the country's currency is to be replaced with a new generation of banknotes. Kenyans must return their 1,000 shilling ($10; £8) notes to banks by 1 October, in a bid to fight money laundering, counterfeits and corruption. New currency is to be brought in over the coming months with other denominations being phased out gradually.
Justice Mojisola Olatoregun of the Federal High Court, in Lagos, yesterday, sentenced the former managing director of the defunct Integrated Microfinance Bank Limited, Simon Ademola Akinteye, to four years’ imprisonment over a $166.9 million fraud. The court sent the former bank MD behind bars after convicting him of a nine-count charge of compliance, fraud and reckless granting of loans without collateral, brought against him by the Federal Ministry of Justice.
In March 2015, as they prepared to cast their votes in a landmark presidential election, Nigerians found themselves facing a choice between the devil and the deep blue sea: Goodluck Jonathan, the then-incumbent whose administration was corrupt and largely inept; and Muhammadu Buhari, an erstwhile dictator known for his ethnoreligious biases.
The European Commission adopted today a list of 23 third countries with weak rules against money laundering and terrorism financing. I would like first to explain the context and our main objectives. The EU must not be a destination for illicit money. The EU financial system must not serve as a vehicle for money laundering and must not serve as an instrument for financing crime including terrorism.
However, Nigeria made the four notch jump without improving its score of 27 out of a possible 100 as recorded in 2017. Africa’s most populous country is tied with Kenya, Comoros, Guatemala and Mauritania. And it is ranked better than Cameroon put at 152nd. Botswana remains Africa’s most transparent country with a ranking of 34, followed by Namibia, Mauritius and Senegal. The United States slid to 22nd in the world from 18th last year, dropping out of the top 20 countries for the first time since 2011.
The Kenyan leader told a story of a Nigerian Minister involved in corruption and diversion of public funds. Odinga, who did not mention the Minister’s name, was speaking at an event when he told the story about a Nigerian Minister for Works and a Malaysian Minister for Work. According to Odinga, “A Nigerian Minister for works went on a tour to Malaysia and was hosted by his Malaysian counterpart. “At Dinner, the Nigerian minister marvelled at the beauty of the Malaysian Minister’s house and asked ‘how did you do it ?’
The Economic and Financial Crimes Commission on Tuesday said its operatives intercepted gold worth about N211m
The Referees' Association of Ghana (RAG) has handed life-time bans to six more referees in the wake of an investigation into bribery.
The Economic and Financial Crimes Commission (EFCC) yesterday said it had placed Ekiti State Governor, Mr. Ayodele Fayose, on the watch-list.
Nigerian president Muhammadu Buhari has appointed a new head of the country’s domestic spy agency, known as the Department of State Security (DSS).