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Tinubu Applauds EFCC on Record- Breaking Achievements
… Calls for Stronger Synergy among Anti-Graft Stakeholders
President Bola Tinubu has commended the Economic and Financial Crimes Commission, EFCC, for its record-breaking achievements in combating financial crimes, recovering illicit assets and strengthening Nigeria’s international financial standing and called for stronger collaboration among all stakeholders in the anti-corruption corridor.
The President gave the applause in Abuja on Tuesday, October 13, 2026, at the opening ceremony of the 8th EFCC/National Judicial Institute, NJI Workshop for Judges and Justices.
The workshop is themed: “Investigation and Prosecution of Economic and Financial Crimes in a Digital Age.”
Represented by Vice President Kashim Shettima, Tinubu particularly commended the EFCC’s efforts in tackling cryptocurrency fraud and recovering virtual assets, noting that the Commission had demonstrated its determination to stay ahead of evolving criminal methods. “The EFCC’s recent momentum in tackling cryptocurrency fraud and its commendable strides in recovering virtual assets is highly reassuring. These actions signal an agency that is proactive, forward-looking and resolved not to be outpaced by technological innovation,” he said.
In the first 34 months of the current administration of the EFCC, the Commission filed 14,476 cases in court and secured 10, 872 convictions, which represents 75.1 percent conviction-to-filing ratio. The EFCC equally recorded 1,370 convictions from 1,889 filings in the first half of 2026. In addition, the Commission recovered N1.233 trillion, $684,478,457.32, £373, 905.78, and €9,343,803.66 in monetary assets.
The President cited the successful prosecution and subsequent deportation of 192 foreigners arrested for cyberterrorism and cryptocurrency fraud as evidence of the Commission’s commitment to combating technology-driven crimes.
He noted that the increasing sophistication of financial crimes, driven by blockchain technology and artificial intelligence, require continuous capacity building for investigators, prosecutors and judicial officers.
“Because these modern threat typologies are constantly mutating, law enforcement and judicial authorities must engage in continuous capacity building to effectively adapt and respond to these evolving threats. Adapting to the shifting dynamics of financial crime and realigning our investigative and prosecutorial strategies is critical to preventing institutional obsolescence,” he said.
President Tinubu also pledged the Federal Government’s support for judicial capacity development, stressing that an independent, progressive and reform-minded judiciary was indispensable to achieving meaningful progress in the anti-corruption campaign.
He, however, urged the judiciary to strengthen its capacity to adjudicate complex financial crime cases, assuring that his administration would continue to support the sector while respecting judicial independence.
He particularly expressed concern that major anti-corruption prosecutions lost on procedural technicalities could undermine public confidence in the justice system. He urged the EFCC and the judiciary to continue to improve on prosecutorial discipline and close loopholes exploited by individuals seeking to frustrate trials.
He maintained that the fight against corruption should not be regarded as an Executive agenda alone, but as a collective responsibility of all arms of government.
Additionally, the President acknowledged that the EFCC’s asset recovery efforts had provided critical fiscal support for social intervention programmes, including the Nigerian Education Loan Fund, NELFUND and the Nigerian Consumer Credit Corporation, CREDICORP.
In his welcome remarks, Executive Chairman of the EFCC, Mr. Ola Olukoyede said his administration has embarked on operational reforms that now enable the Commission to secure more recoveries and convictions. He also stated that the EFCC is strengthening intelligence-led investigations, forensic capabilities, domestic and international cooperation, while deepening its understanding of emerging financial technologies.
“We do not seek simply to investigate more people; we seek to investigate more intelligently. We do not seek merely to prosecute more cases; we seek to prosecute cases that are properly investigated and capable of meeting the required standard of proof. Where assets are recovered, we seek to ensure that the recovery is lawful, transparent and sustainable,” he said.
The EFCC’s boss underscored institutional bottlenecks and procedural delays as some of the barriers to effective prosecution that paralyze complex financial crime proceedings, adding that frivolous adjournments and constant change of counsel stall the wheels of justice. “When financial crime cases are allowed to drift indefinitely, the integrity of the process erodes. Evidence deteriorates and loses its cogency. Witnesses disappear, relocate, or suffer memory lapses. Public confidence in the judicial system completely evaporates. Justice endlessly delayed is accountability decisively defeated,” he said.
Olukoyede told the gathering that “adjudicating corruption cases requires an elevated standard of integrity, judicial courage, and an unswerving commitment to the rule of law. We continue to hold in the highest esteem those jurists who have consistently held the candle of justice aloft in these challenging times.”
“We do not urge Your lordships to reinvent the wheel, nor do we suggest the manufacturing of evidence to secure convictions. We ask only for rigorous, expeditious adjudication. Before delivering judgment in any corruption matter, I urge you to resolve a few fundamental questions within your own conscience: Will this verdict encourage or deter financial crimes? How will this decision be measured by the verdict of judicial history decades from now? What colour will this judgment add to the enduring tapestry of your legacy?”
He said the goal of anti-corruption efforts was a more cohesive justice system where investigators know exactly what the courts require; prosecutors proactively anticipate evidentiary challenges; forensic specialists translate complex digital data into clear testimonies, and the judiciary understands the sophisticated methods used to perpetrate and conceal financial crime.
On her part, Chief Justice of Nigeria, Justice Kudirat Kekere-Ekun stressed the need for the judiciary to strengthen its capacity to handle emerging forms of financial crimes in the digital age, while upholding the principles of fair hearing, due process and judicial independence. She noted that cryptocurrency transactions, encrypted communications, electronic records and cross-border financial activities had introduced new complexities into criminal proceedings, requiring judges to understand how digital evidence is obtained, preserved, authenticated and evaluated.
She said the seriousness of an allegation must not determine the outcome of a trial, insisting that the prosecution must establish its case through credible and legally admissible evidence. She also emphasised the importance of effective case management under the Administration of Criminal Justice Act, 2015, urging judges to prevent unnecessary delays without compromising the rights of parties.
The Chief Justice said continued judicial education had improved judges’ capacity to handle financial crime cases. She also highlighted Nigeria’s removal from the Financial Action Task Force’s Grey List on October 24, 2025, as an important milestone requiring sustained institutional commitment.
According to her, the judiciary must continue to strengthen its professional standards and competence in adjudicating corruption, money laundering and other financial crimes. She, however, cautioned that institutional cooperation must respect the constitutional independence of the courts, stressing that monitoring and coordination must never extend to influencing judicial decisions.
Chairman, Senate Committee on Anti-Corruption, Senator Emmanuel Udende identified delays in the trial and determination of economic and financial crime cases as a major challenge undermining Nigeria’s anti-corruption efforts. He noted that although investigations and prosecutions were essential, their impact was diminished when cases remained unresolved for years. Such delays, he said, weakened deterrence, undermined public confidence, consumed judicial resources and complicated the recovery of public funds.
He urged judges to strengthen case management, minimise avoidable adjournments and ensure the timely conclusion of proceedings in accordance with the law. He nevertheless emphasised that expeditious trials must not come at the expense of due process, noting that accused persons were equally entitled to fair hearings within a reasonable time.
Udende also called for stronger institutional cooperation and sustained capacity building to address the challenges posed by digital evidence and increasingly sophisticated financial crimes. He urged investigators to present complete and properly organised evidence, prosecutors and defence counsel to discharge their responsibilities diligently, and judges to exercise firm, fair and impartial control over proceedings.
He encouraged the EFCC and NJI to sustain their collaboration and develop practical recommendations for improving the handling of digital evidence, reducing delays and strengthening coordination across the criminal justice system.
Chairman, House Committee on Financial Crimes, Ginger Obinna Onwusibe called for urgent reforms to address the evidence, speed and legislative gaps undermining the investigation and prosecution of financial crimes in Nigeria.
The lawmaker pledged the National Assembly’s support for strengthening the EFCC through adequate funding for forensic laboratories, digital investigation tools and specialised training. He also promised legislative reforms to improve the admissibility of digital evidence, facilitate the management of virtual assets and strengthen the legal framework for combating cybercrime and money laundering.
Onwusibe further advocated improved judicial welfare and independence, stressing that an adequately equipped judiciary was essential to effective justice delivery. He challenged judges to demonstrate firmness in deciding financial crime cases, declaring that the EFCC could arrest suspects and the legislature could enact laws, but only the judiciary could convict offenders. He urged participants to build a justice system capable of responding more swiftly and intelligently to technology-driven criminal activities.
Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, emphasised that effective prosecution of financial crimes must begin with thorough investigations and the proper handling of digital evidence. He said such evidence must be lawfully obtained, carefully preserved, reliably authenticated and clearly linked to the elements of the alleged offence. He warned that prosecutorial success should not be measured merely by arrests or charges filed, but by the integrity of investigations, fairness of proceedings and sustainability of judicial outcomes.
Describing prosecutors as ministers of justice, Fagbemi stressed that their responsibility was to pursue justice through lawful means rather than secure convictions at all costs. He called on investigators, prosecutors, defence counsel and judges to discharge their duties professionally, while ensuring that the pursuit of speed did not undermine fair hearing.
Fagbemi also underscored the importance of recovering and managing proceeds of crime, noting that the Proceeds of Crime (Recovery and Management) Act, 2022, provides mechanisms for tracing, preserving, recovering and managing illicit assets. He stressed that asset recovery must be supported by credible evidence, proper judicial processes and respect for the rights of affected persons.
According to him, improved forensic capacity, information sharing and international assistance were essential to achieving lasting results. He urged institutions to replace rivalry with shared responsibility, insisting that Nigeria’s anti-corruption efforts must remain uncompromising in confronting financial crimes while equally protecting the rights of innocent persons and upholding the rule of law.
He further called for stronger cooperation among the Ministry of Justice, EFCC, judiciary, financial intelligence institutions and other relevant agencies to combat increasingly borderless financial crimes.
The opening ceremony was well-attended by members of the bar and bench, anti-corruption experts across the country and other stakeholders in the fight against corruption. The three-day Workshop will end on Thursday, October 15, 2026.
Remain Good Ambassadors of EFCC, Olukoyede tasks Retirees
The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede, has urged retired officers of the Commission to continue to protect its image and uphold the values of integrity and transparency, despite leaving active service.
Olukoyede gave the charge in Abuja on Friday, November 6, 2026, when members of the Association of Retired Officers of the EFCC paid him a courtesy visit at the Commission’s headquarters.
He commended the retirees for their contributions to building the anti-graft agency, describing their efforts as instrumental to its growth and achievements.
"Permit me to thank you for your contributions to building the EFCC. Your names will be written in gold. Without your legacy and efforts, the EFCC would not exist today," he commended the retirees.
The EFCC Chairman, who assumed office in October 2023, said his administration had prioritised internal reforms and restructuring to strengthen the Commission and safeguard its reputation.
"When I came on board as the Executive Chairman in October 2023, there was a serious need for reorganisation and restructuring for internal cleansing against corrupt practices," he said.
He disclosed that the Commission had dismissed more than 40 staff members for gross misconduct and indiscipline as part of efforts to maintain discipline and accountability within the organisation.
Olukoyede urged the retirees to remain good ambassadors of the EFCC, stressing that their conduct outside the Commission would continue to influence public perception of the institution.
The EFCC Chairman added, "The way you portray yourselves outside is very important. Let us come together and uphold the standard of this Commission. Respect this brand, EFCC. Do not tarnish this image. Let us join hands together to build this brand, EFCC. Let people know you were staff members of integrity and transparency."
He acknowledged the contributions of retired officers to the Commission's achievements, particularly in the areas of convictions and asset recoveries.
"We could not have achieved the convictions and recoveries without your support," he said.
On the welfare of the retirees, the EFCC chairman assured them of the Commission's commitment to sustaining the payment of their severance packages, explaining that his administration had worked to strengthen the existing arrangement.
He further disclosed that the Commission was working towards reintegrating retired officers into its leadership development programmes as resource persons, while plans were underway to establish an EFCC Estate for serving and retired personnel on a subscription basis.
Earlier, the President of the Association, Dr. Ayo Olowonihi, said the visit was the group's second engagement with the Commission, describing it as important for many retired officers.
Olowonihi, who was the Commandant of the EFCC Academy, expressed appreciation to the EFCC leadership for facilitating the payment of their severance packages and allowances.
He also acknowledged the contributions of serving and retired officers to the growth of the Commission, describing its achievements as the collective efforts of personnel who had served the organisation over the years.
The President particularly commended Olukoyede for his support in securing the Association's registration with the Corporate Affairs Commission, CAC, disclosing that the Chairman had been appointed as the Association's branch patron in recognition of his contributions.
He stated, "Our Association is now a registered entity to provide for the welfare of members and support the realisation of the EFCC's mandate. We thank the EFCC Chairman for fast -tracking the registration.
"We cannot discount the truly outstanding contributions of the officers and men who gave their all to laying and building on the undeniably solid foundations of the Commission. We, the retired officers of this great organisation, are particularly grateful to you for maintaining the tradition of providing selfless leadership, not only in your current role as Chairman and Chief Executive but also in your former positions as Chief of Staff and Secretary to the Commission."
Olowonihi appealed to the Commission to provide an office for the Association and establish a dedicated retirees' welfare desk to address the concerns of former officers and strengthen their relationship with the Commission.
He also called for the recognition of retired officers' professional expertise and experience, particularly through opportunities to contribute to the Commission's training programmes.
"We appeal for a befitting office for the Association and a special retirees' welfare desk to serve as the eyes and ears of the Commission for retirees. We seek recognition of our training and expertise, given our wealth of knowledge and years of experience. A strong retiree Association is a strong and valuable asset to the Commission," he said.
EFCC Secures Final Forfeiture of $163,592 in US Law Firm Fraud
The Economic and Financial Crimes Commission, EFCC has secured the final forfeiture of $163,592 fraudulently obtained by one Akpasi Michael Oziegbe through an alleged impersonation and international fraud scheme involving a United States-based law firm.
The forfeiture order was granted on Friday, November 6, 2026, by Justice M. S. Liman of the Federal High Court, Abuja, following an application by the EFCC. Prosecution counsel, Ekele Iheanacho, SAN, led the EFCC legal team to secure the forfeiture order.
Deciding on the non-conviction order, the court held that Oziegbe failed to establish ownership of the said funds. Justice Liman held that the accused illegally procured the services of the law firm to secure the settlement sum from a company he was not an employee.
The money, which was traced to the domiciliary account of Micoz Bluelink Enterprise, operated by Oziegbe, was fraudulently obtained from the United States-based company, Applied Industrial Technologies, through the impersonation of one Edward Campbell.
Investigations by the EFCC had revealed that Oziegbe impersonated Campbell, a former employee of the company who had sustained an accident while on duty, to deceive the Law Firm of Steven J. Mandel & Co. into facilitating the fraudulent release of settlement funds.
According to information obtained from the United States Federal Bureau of Investigation (FBI), the law firm received a request for legal representation on June 27, 2022, from an individual identifying himself as Edward Campbell.
The impersonator claimed that he was seeking to enforce a settlement agreement reached with his former employer, Applied Industrial Technologies, over an accident arising from his employment. He further alleged that the company had failed to pay the agreed settlement.
Following the request, the law firm was informed that a cheque of $165,157 had been issued by Applied Industrial Technologies on behalf of Campbell.
He subsequently instructed the law firm to deduct its legal fees and transfer the balance to the bank account details he supplied.
Acting on the instructions, the law firm transferred $163,592 to the designated account on July 20, 2022. The money was subsequently credited to the domiciliary account of Micoz Bluelink Enterprise with United Bank for Africa (UBA) Plc.
However, on July 21, 2022, JP Morgan Chase Bank notified the law firm that the cheque was altered and fictitious. The law firm thereafter contacted Applied Industrial Technologies and discovered that the transaction was fraudulent.
The law firm promptly reported the incident to the United States secret service, Federal Bureau of Investigation, FBI.
Further investigations revealed that UBA had flagged the inflow as suspicious and initiated a reconfirmation process through its correspondent bank, Citi Bank. The bank subsequently received a communication confirming the fraudulent nature of the transaction, alongside a refund request from JP Morgan Chase Bank on grounds of unjust enrichment.
UBA consequently placed a lien on the funds, prompting Oziegbe to petition the EFCC over alleged misconduct by some officials of the bank.
The EFCC's investigation, however, established that the funds originated from the alleged fraudulent transaction involving the American law firm and were not legitimate proceeds of any supply transaction, as claimed by Oziegbe.
The Commission also established that Oziegbe failed to provide relevant documents to substantiate his claim that the money represented payment for materials supplied to the United States.
The EFCC's Extractive Industry Fraud Section (EIFS) commenced investigations following a petition received in May 2024 from GAIA & Montgomery Legal on behalf of Oziegbe, alleging conspiracy, forgery and obtaining money under false pretences against some UBA officials.
In the course of the investigation, the Commission obtained information and supporting documents from the FBI, which provided details of the fraudulent transaction and the circumstances surrounding the transfer.
The Commission had earlier secured an order freezing the account on September 9, 2024, in Suit No. FHC/ABJ/CS/1297/2024, to prevent the dissipation of the funds pending the conclusion of investigations.
It subsequently obtained an interim forfeiture order on August 15, 2025, directing the forfeiture of the $163,592 and inviting interested parties to show cause why the money should not be finally forfeited to the Law Firm of Steven J. Mandel & Co. through the Federal Government of Nigeria.
The EFCC had earlier declared Oziegbe wanted in connection with the fraud.
Court Jails 10 for Illegal Dealing in Petroleum Products in Warri
Justice H.A.Nganjiwa of the Federal High Court sitting in Warri, Delta State on Friday November 6, 2026 convicted and sentenced ten persons to jail for illegal dealing in petroleum products.
The convicts are James Terry, Gift Ezewu Godfrey, Obidi Peter Obi, Anthony Onyebuchi Edekobi, Victor Ataria Sule. Others are Jubril Abubakar, Auwal Aliyu, Nnaemeka Nwobodo, Victor Edem and Sunday Ndem Eyere.
They were arraigned on one count -charge of criminal conspiracy and illegal dealing in petroleum products by the Benin Zonal Directorate of the Economic and Financial Crimes Commission.
The charge against Victor Edem Udo reads: That you Victor Edem Udo (m) on or about the 8th day of August 2026 at Koko, Warri North Local government Area of Delta State within the jurisdiction of this honourable court did deal in petroleum products (Automotive Gas Oil) AGO which is not of the quality expected of the product and thereby committed an offence contrary to and punishable under Section 1(18)(a)(ii) of the Miscellaneous Offence Act Cap M17 Laws of the Federation of Nigeria (Revised Edition) 2004.
Upon arraignment, all the defendants pleaded guilty to their charge, prompting the prosecution counsel, Francis Jirbo to pray the court to sentence and convict them accordingly.
Justice Nganjiwa convicted and sentenced James Terry and Gift Ezewu Godfrey to two years imprisonment or a fine of Three Hundred Thousand Naira (N300,000). Obidi Peter Obi, Victor Ataria Sule, Jubril Abubakar, Auwal Aliyu, Nnaemeka Nwobodo, Victor Edem were sentenced to three years imprisonment each or a fine of Three Hundred Thousand Naira (N300,000)each. Sunday Ndem Eyere bagged three years imprisonment or a fine of Four Hundred Thousand Naira (N400,000) while Anthony Onyebuchi Edekobi bagged three years imprisonment or a fine of Three Hundred and Fifty Thousand Naira (N350,000).
The convicts’ road to the Correctional Centre began following their arrest based on intelligence from the Office of the National Security Adviser of their suspicious activities in Koko, Delta State. They were thereafter prosecuted and convicted.
Olukoyede Bags Icon of Anti-corruption Award
The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede, has been honoured with the National Honorary Award as Nigeria`s Icon of anti-corruption, financial integrity, economic development and youth empowerment.
The honour was bestowed on him in Abuja on Tuesday, November 3 2026, at the National Youth Day organized by the Patriotic Nigeria Youth Forum in a programme themed “Reimaging the Nigerian Youth: Leadership, Innovation and a Greater Nation”.
The Convener and National Coordinator of the Forum, Comrade Olamide Odumosu, stated that the programme was organized as a call to action, a moment of reflection and a renewed commitment to building the Nigeria of our dreams, as a nation that invests in its young people invests in its future.
“ We cannot continue to celebrate the potential of our youths without creating the opportunities that will enable them to fulfil that potential, because young people are not only the leaders of tomorrow, they are leaders, innovators, entrepreneurs and nation`s builders of today” he said
The programme, according to him, was intended to provide a platform for meaningful conversations in leadership development, innovation, networking and renewed commitment to nation-building among Nigerian youths and for which the EFCC Chairman was recognized for his steadfast leadership in promoting integrity, protecting young people from crime, and advancing initiatives aimed at empowering Nigerian youths.
In a keynote address on "Nigerian Youth and the Fight Against Economic and Financial Crimes: Building a Culture of Integrity for National Development" Olukoyede, represented by the Head of Enlightenment and Reorientation Unit, Assistant Commander of the EFCC, ACE 11 Aisha Mohammed stated that the Nigerian youth "is the most potent demographic force in our nation with over 70% of the population under the age of 35, making it Nigerian`s greatest asset, adding that if the energy of that demography is not channeled into integrity and productivity, it becomes our greatest liability."
“In the last 12 months alone, over 75% of convictions for internet-related fraud recorded by the Commission involved persons between the ages of 18 and 35. We see undergraduates who should be coding for innovation, coding for fraud. We see young ladies used as account mules. We see youths creating fake investment apps, fake vendor platforms, and engaging in sextortion and romance scams. This is not the Nigerian youth we are proud of. But I am not here to condemn, rather I am here to call you to action, because the same youth population that is vulnerable to crime is also the most powerful weapon against corruption” he said
Furthermore, he stressed that youths must lead and own the fight as the future of Nigeria is in their hands, encouraging them to be equipped with financial intelligence so as not to fall victim to scams and get rich quick syndrome.
“Second, you own the digital space, economic and financial crimes today are cyber-enabled. Who understands that space better than you? Your ability to detect, report, and reject online fraud is critical to national security. At the EFCC, we have moved beyond enforcement to prevention. We believe building integrity is cheaper and more sustainable than prosecuting crime. Our strategy rests on four pillars, and we need you on all four, re-orientation of values, financial literacy and responsibility, consequences and accountability, partnership and reward. My charge to you is that the EFCC cannot do it alone, so decide to be the example, decide to be informed and decide to be a whistleblower, not a spectator”, he said.
Also speaking, Minister of Youth Development, represented by Ngozi Icheke Ofurum stated that national development was not built in Aso Rock but built in the daily decisions of 220 million Nigerians.
“Let me use this opportunity to challenge the Nigerian youths to rise above ethnic differences, use their talents and energy to promote peace and development. Let’s build a Nigeria where everyone has equal chances to thrive. Let us rise with courage and innovation to lift this country to greater heights, because our main assets remain our youths. Not only as leaders of tomorrow but active partners in nation building” he said.
PenCom Seeks EFCC’s Support in Tackling Pension Fraud
The National Pension Commission, PenCom has sought the collaboration of the Economic and Financial Crimes Commission, EFCC to deal with fraudulent activities in the nation’s pension industry, especially the challenge of unremitted pension funds by some employers.
Director General of PenCom, Omolola Oloworaran made the demand in Abuja on Thursday, October 5, 2026 when she led a delegation from her office to the headquarters of the EFCC.
The DG raised concerns over the disturbing trend where many employers fail to remit the mandatory pension contributions of their employees to their retirement savings accounts as required by Pension Reform Act 2004. She said most disturbing is the fact that many employers do not only fail to remit the supposed 10 percent as employers, they also deduct the required 8 percent contribution of the employees and yet, fail to remit to their retirement savings account.
Commending the EFCC for its stride in fighting corruption, Oloworaran expressed confidence in the ability of the Commission to help deal with the situation and bring the recalcitrant employers to justice.
“Employees are stealing from Nigerians. And we need a way to recover this monies from them. We are looking for a more effective way to manage this situation. We believe you can help us. We think that the EFCC is better placed to manage this issue,” she said,
Also, Ahmed Lawan, acting director in the compliance and enforcement department at PenCom said the major concern is where the employers deduct the pension funds and refuse to remit, thereby denying them of their retirement benefits. He said the situation has contributed to causing untold hardship for many retirees.
“We need an effective and efficient way to handle this. We need a framework of collaboration between PenCom and EFCC to address this menace,” he said.
Reacting, the Executive Chairman of the EFCC, Mr. Ola Olukoyode described the development as fraudulent while assuring of his commitment to ensuring that the alleged crime is investigated and the perpetrators brought to justice.
Represented by his Chief of Staff, Commander of the EFCC, CE Michael Nzekwe, the EFCC Chairman said he will give the report an accelerated action and rid the pension industry of such life-threatening fraudulent practices against Nigerians.
“That’s fraud. We have had to deal with such issues before now. We will deal with this one also. We will look deeply into it; and I can assure whatever needs to be done would be done to ensure all the outstanding monies are recovered,” he stated.
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Alleged $700,000 Fraud: First defendant Told me He Was PA to the EFCC Chairman - Witness
The Second prosecution Witness, PW2, in the trial of Ojoba Joshua and Aliyu Haskim, who are facing prosecution for allegedly impersonating the Personal Assistant to the Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede, on Thursday, November 5, 2026 told Justice Jude Onwuegbuzie of the Federal Capital Territory, High Court, Apo, Abuja, that the first defendant, Joshua, told him that he was the Personal Assistant to the Executive Chairman of EFCC in the presence of the second defendant.
The EFCC, is prosecuting Joshua and Haskim on an amended four-count charge, bordering on impersonation, conspiracy and obtaining by false pretence the sum of $700,000, (Seven Hundred Thousand United States Dollars)
Joshua, the first defendant who allegedly paraded himself as the Personal Assistant to Olukoyede, had conspired with Hashim, the second defendant to obtain the sum of $700,000.00 (Seven Hundred Thousand United States Dollars) from a former Managing Director, Nigerian Port Authority, NPA, Muhammed Bello Koko.
Both defendants hid under the false identity of EFCC operatives and approached Koko, claiming that his tenure as the M.D of NPA was being investigated by the EFCC, and further claimed that the EFCC Chairman and the Director of Operations requested $1m to stop the investigation. They finally agreed to collect $700,000.00 from Koko
At Thursday’s proceedings, the witness, Tanko Abubakar, an investigating Officer of the EFCC while being cross- examined by counsel to the first defendant, Obinna Nwosu, told the court that he encountered the first defendant in the course of his investigation where he introduced himself as the PA to the Executive Chairman of EFCC.
When asked to provide evidence, he stated that there are video clips which showed where the second defendant testified in his statement that the first defendant allegedly told him he was the PA to the Executive Chairman of EFCC.
“My lord, there are video clips to show when the second defendant said in his statement that he is the PA to the EFCC chairman. He said this when we were driving in the car.” He said.
He was also asked to show the court the particular place in the video evidence where it was recorded that the first defendant disclosed that to him.
Reacting, the judge stated that playing the entire video clips will consume the time of the court, he directed that the prosecution go back and take a look at the video, identify places where the statement was made and provide them at the next adjourned date.
Counsel to the prosecution, Elizabeth Alabi drew the attention of the court to her affidavit asking the court to grant her leave to call her next witness virtually, as the witness will not be available physically to testify due to the fact that he is out of the country.
Justice Onwuegbuzie granted her request and adjourned the matter to November 9 , 16, 19,23,30, 2026 for continuation of trial.
EFCC Grills Ex-Banker for Alleged Criminal Diversion of Customer’s N515m
Operatives of the Enugu Zonal Directorate of the Economic and Financial Crimes Commission, EFCC have commenced investigations into the activities of one Obinna Nwaobi, a former Head of Operations of a new generation bank for allegedly authorising the criminal diversion of the sum of N515, 000, 000. 00 (Five Hundred and Fifteen Million Naira) from the Debt Service Reserve Account, DSRA belonging to a customer, DAHUA Paper Company, without authorization.
The Commission had received a petition dated June 22, 2026 from the bank against Nwaobi, alleging that the said sum left their customer’s account in three tranches of N200, 000, 000. 00 (Two Hundred Million Naira), N150, 000, 000. 00 (One Hundred and Fifty Million Naira) and N165, 000, 000. 00 (One Hundred and Sixty-five Million Naira), respectively, on July 17, 2024.
According to the petitioner, the said account from which the money was moved, was reactivated in June 2024 and upon reactivation, the account was not placed on Post No Debit, PND as required, which led to the fraudulent withdrawals from the account. “These transactions were processed from our Okpara Avenue, Enugu Branch, using forged documents and authorised by Obinna Nwaobi (Head of Operations)”, the petitioner alleged.
Preliminary investigations revealed that the said account is a Bank of Industry loan repayment account which is not accessible to customers as it is meant for repayment of loan. Withdrawals or transfers to third parties are not allowed on loan repayment accounts without the approval of the Account Officer, the Regional Manager and the Credit Monitoring Team.
However, transactions that took place on the account were made illegally with forged documents and allegedly authorised by the suspect who happened to be the Head of Operations at that time.
The suspect is currently standing trial for another case of unauthorised withdrawal of $510, 000. 00 (Five Hundred and Ten Thousand United States Dollar) before a Federal High Court in Enugu. He was arraigned on Thursday, November 13, 2025 on a nine-count charge bordering on forgery and criminal diversion of $510, 000, also belonging to a customer of the same bank.
The bank had alerted the Commission, through a petition, alleging that the sum of $510, 000 belonging to its customer, Lantern Gate Nigeria Limited was moved to six different accounts on the authorisation of the suspect (the Head of Operation at that time), without the approval of the customer.
The suspect will be charged to court as soon as investigations are concluded.
Edo Court Jails Man for Fraud
The Benin Zonal Directorate of the EFCC on Wednesday, November 4, 2026, secured the conviction of Samuel Akove Adavize before Justice E.G. Adekambi of Edo State High Court, sitting in Benin City. Samuel was arraigned on a two-count charge of impersonation, Obtaining by false pretence and possession of fraudulent documents. Justice Adekambi convicted and sentenced the defendant to two years imprisonment. Aside the prison sentence, the court ordered the forfeiture of Four Hundred Thousand Naira (N400,000) being proceeds of crime and iPhone 12 being instrument of crime, recovered from the convict to the Federal Government of Nigeria. The court further ordered that his Opay account and Sparkle MFB account be permanent closed.
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EFCC, Australian Federal Police Sign MoU to Strengthen Fight Against Cybercrime
The Economic and Financial Crimes Commission, EFCC, and the Australian Federal Police, AFP, have signed a Memorandum of Understanding, MoU, to strengthen collaboration in tackling cybercrime and other transnational financial crimes.The agreement was signed on Wednesday, November 4, 2026, at the EFCC Headquarters, Jabi, Abuja.
Speaking at the ceremony, the Australian High Commissioner to Nigeria, Leilani Bin-Juda, commended the EFCC Chairman, Ola Olukoyede, and officers of the Commission for the cordial relationship and cooperation with the Australian Federal Police over the years.
“Chairman, I want to say a big thank you to you, your leadership, your agency and your amazing officers who have worked closely with the Australian Federal Police,” she said.
She noted that Nigeria and Australia have sustained cooperation on several issues, through exchange of technology, intelligence and professional advice, adding that the partnership had contributed positively to the bilateral relationship between both countries.According to her, cybercrime remains a global concern requiring concerted efforts, noting that Nigeria plays a significant leadership role in the region.
“This is an area of interest and importance, not only to Australia and Nigeria but also globally. Cyber matters are affecting many countries, and Nigeria is one of those leading countries in the region. Other African countries look to Nigeria for leadership in this aspect. I commend you for your efforts,” she said.
Also speaking, the Assistant Commissioner of the Australian Federal Police, Sandra Booth, described the MoU as an important step towards deepening the existing relationship between both institutions.
She disclosed that the partnership between the EFCC and AFP dated back to 2004 and had produced significant results in several areas, including sensitive investigations, cyber-enabled crimes, business email compromise investigations, financial investigations and scams.
“We are very grateful for this relationship that we have with you. I look forward to the new MoU providing new opportunities for us to work together, open new horizons, strengthen our relationship and promote professional development between our organisations,” she said.
Both expressed confidence that the agreement would provide a clearer framework for sustained cooperation, mutual support and the continued exchange of expertise between the two agencies.
“We are very excited about today. It takes us to what we believe is the next step in our relationship. Relationships go through evolution, and I am very proud to be able to sign this document with you, Chairman, which articulates what the future looks like,” she said.
In his remarks, EFCC Chairman, Ola Olukoyede, thanked the Australian Government and the Australian Federal Police for finding Nigeria and the Commission worthy of the partnership.
He said the Commission had always remained open to international collaboration, particularly in the investigation and prosecution of financial crimes, given the increasingly transnational nature of economic and financial crimes.
“We have discovered that financial crimes take a transnational dimension. What affects Nigeria inevitably affects Australia. That is why countries have to come together because criminals always work together,” he said.
Olukoyede stressed that the interconnected nature of criminal networks made cooperation among law enforcement agencies across jurisdictions imperative.
“There is a network of criminals, and for us to fight this network, we must also network as countries that are serious about the fight against such crimes. That is why we are always open to this kind of collaboration,” he said.
He explained that the MoU was intended to formalise the longstanding relationship between the two agencies and establish a framework for more structured cooperation.
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According to him, the framework would cover training and manpower development, mutual support, as well as the exchange of information and intelligence, subject to the domestic laws of both countries.
“We are always willing to do that. It is a bilateral relationship that benefits both countries, irrespective of where the perpetrators are,” he said.
The ceremony also featured the presentation of awards by the Australian Federal Police to four outstanding officers of the Commission in recognition of their exceptional investigative skills, professionalism and dedication demonstrated during a complex and lengthy investigation.
The award recipients were Assistant Commander of the EFCC II, Abba Sambo Usman; Assistant Commander of the EFCC II, Olufemi Olukinni; Assistant Commander of the EFCC II, Omewa Pius Nnaemeka; and Inspector of the EFCC I, Owolabi Jude Oyarekhua.
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