The Securities and Exchange Commission (SEC) has revealed that it is currently investigating 79 suspected Ponzi schemes operating illegally across Nigeria, as part of its intensified crackdown on fraudulent investment operations. This disclosure was made over the weekend by the Director-General of the Commission, Lamido Yuguda, during a media briefing in Abuja. Yuguda expressed deep
Abuja, July 11, 2025 — The Nigeria Police Force, in collaboration with the International Criminal Police Organization (INTERPOL) National Central Bureau (NCB) in Abuja, has successfully arrested and repatriated a Chinese fugitive wanted for a multi-million Yuan tax fraud in China. The suspect, identified as a Chinese national, had been on the radar of international
July 11, 2025 The Central Bank of Nigeria (CBN) has raised concern over the alarming rise in financial fraud across the country, revealing a 45% increase in fraudulent activities within the first half of 2025. Even more troubling, the apex bank disclosed that 70% of the total financial losses were perpetrated through digital platforms. This
Kaduna, July 9, 2025 — Justice Amina Bello of the Kaduna State High Court has convicted and sentenced one Zeal Abraham to two years imprisonment for impersonation and internet fraud involving $200. The conviction followed a one-count charge brought against him by the Economic and Financial Crimes Commission (EFCC), Kaduna Zonal Directorate. Abraham, who operated
The Economic and Financial Crimes Commission (EFCC) has arraigned the founder of the popular online gaming platform, Bigibet, Mr. Adepoju Abiodun, before a Federal High Court in Lagos over his alleged involvement in a massive ₦855 million fraud. The arraignment, which took place earlier this week, marks a significant step in the Commission’s ongoing clampdown
July 7, 2025 The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 1, on Monday, July 7, 2025, arraigned two individuals, Abel Egerton Sokari and Nkiruka Chukwuma, alongside a company, Zakah Global Investment Limited, before Justice Mojisola Dada of the Special Offences Court, Ikeja, Lagos. The defendants were brought before the court on a
Lagos, Nigeria – July 2025 — A Lagos State High Court sitting in Ikeja has sentenced one John Oluwaseun to two years in prison for engaging in internet fraud amounting to $2,000. The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate, secured the conviction after prosecuting Oluwaseun on a one-count charge of impersonation and
Abuja – June 30, 2025 The Economic and Financial Crimes Commission (EFCC) has confirmed the arrest of 74 suspected internet fraudsters in a major operation conducted in Nyanya, a suburb of the Federal Capital Territory (FCT), Abuja. According to a statement released by the Commission, the suspects were apprehended in the early hours of Monday,
Washington D.C., USA – June 27, 2025 — A 33-year-old Nigerian national, Edikan Adiakpan, has been arrested in the United States for his alleged involvement in a large-scale business email compromise (BEC) and money laundering conspiracy targeting several organisations across the country. According to U.S. law enforcement authorities, Adiakpan was part of an elaborate cyber
Abuja, Nigeria — June 2025 The Economic and Financial Crimes Commission (EFCC) has filed a formal objection to an application by former Kogi State Governor, Yahaya Adoza Bello, seeking the court’s permission to travel abroad for medical treatment. Bello, who is currently facing trial over alleged involvement in the misappropriation of ₦80.2 billion belonging to
