LAGOS, July 17, 2025 — Olajumoke Odudimu, Company Secretary of Velex Advisory Nigeria, has offered an insightful overview of Nigeria’s Anti-Money Laundering (AML) policies, spotlighting their role in deterring monetary crimes and safeguarding the country’s financial system from illicit funds. Speaking on the subject, Odudimu explained that AML policies in Nigeria are a comprehensive set
The Special Control Unit Against Money Laundering (SCUML), under the Federal Ministry of Industry, Trade and Investment, has sealed a hotel in Kaduna State for allegedly breaching the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022. The enforcement action, which took place on Friday, July 11, 2025, followed weeks of surveillance and compliance
A key witness in the ongoing EFCC prosecution has alleged that former Aviation Minister Hadi Sirika awarded lucrative contracts to a company linked to his daughter and son‑in‑law, bypassing open bidding and favouring family interests. Retired Ministry of Aviation procurement director Musa Odiniyan testified that Al Buraq Global Investment Limited — operated by Sirika’s daughter Fatima
Abuja, July 1, 2025 — The House of Representatives Ad‑hoc Committee overseeing Rivers State budget under emergency rule has demanded a detailed breakdown of the proposed ₦1.48 trillion 2025 budget submitted by the state’s Sole Administrator, Vice Admiral Ibok‑Ete Ibas (retd). During a budget defence session held on Monday at the National Assembly complex in Abuja, Chairman and
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
ABUJA, Nigeria – June 2025 The Nigerian Senate has issued a renewed 10-day ultimatum to the Nigerian National Petroleum Company Limited (NNPC Ltd) to provide detailed explanations and documents regarding the alleged non-remittance of ₦210 trillion in revenue. This comes after the Senate Committee on Public Accounts firmly rejected NNPC’s request for a two-month extension
Abuja, Nigeria – June 14, 2025 The Economic and Financial Crimes Commission (EFCC) has arraigned the Managing Director of SunTrust Bank Nigeria Limited, alongside the bank’s Executive Director, before a Federal High Court in Abuja over allegations of money laundering involving the sum of $12 million. The defendants were arraigned on multiple counts bordering on
