16 results
- 17 Mar 2022
Senate Amends Money Laundering Act, Banks to Report Deposits to EFCC
The Senate has passed a bill to amend the Money Laundering Act 2011, which makes it mandatory for Deposit Money Banks and other financial institutions to report to the Special Control Unit Against…
- 21 Apr 2025
EFCC Clarifies SCUML Certificate Misuse amid CBEX Ponzi Scheme Scandal
Economic and Financial Crimes Commission, EFCC, has dismissed the claims that the defunct digital asset trading platform, CBEX, was registered with its Special Control Unit against Money Laundering,…
- 7 Mar 2018
Senate Okays Money Laundering Bill, Grants NFIU's Autonomy
The Senate yesterday passed a legislation meant to help authorities tackle money laundering and funding for terrorism by allowing its financial intelligence unit to operate free of state control.…
- E-Financial18 Aug 2026
Banks, Others Report 42,082 Transactions to NFIU
Financial institutions in Nigeria filed 42,082 suspicious transactions reports to the Nigerian Financial Intelligence Unit (NFIU) in 2025, as financial institutions stepped up compliance with anti-money laundering regulations amid tighter regulatory oversight.
- 25 May 2021
Insider Connections Facilitate most Banking Frauds – EFCC
Bawa Usman, zonal head of the Economic and Financial Crimes Commission (EFCC), in Sokoto, has said that insider connections facilitate most financial frauds in the banking industry. Bawa, whose zone…
- 17 May 2026
Lagos Sanctions 15 Money Lending Firms for Operational Violations
Lagos State Government has sanctioned 15 money lending firms over violations of operational guidelines and practices considered harmful to residents. Ibrahim Layode, commissioner for Home Affairs,…
- 15 Feb 2023
CITN Partners EFCC to Contain Tax Fraud
Chartered Institute of Taxation of Nigeria, CITN, has teamed up with the Economic and Financial Crimes Commission (EFCC) to intensify fight against tax fraud and other tax crimes. The move became…
- 30 Mar 2022
FCMB Manager Docked Over Alleged N1.2n Fraud
Mr. Tope Munis, branch manager with First City Monument Bank (FCMB), Ikeja branch, has been docked by a Lagos State High Court for allegedly aiding N1.2billion fraud against Star Orient Nigeria…
- 6 Feb 2022
Binance Restores 79 Crypto Accounts’ Operation after Probe
Binance, cryptocurrency exchange by volume, has restored the operation of 79 out of the 281 Nigerian personal accounts under probe for regulatory breaches. The company had restricted the accounts to…
- 7 Jan 2013
CBN Seeks More KYC from DNFBPs
Central Bank of Nigeria (CBN) has introduced additional Know Your Customer (KYC) requirement for all designated non-financial businesses and professions (DNFBPs) with effect from February 1. This…
- 28 Feb 2025
EFCC Uncovers Use of Cryptocurrency in Illegal Arms Importation into Nigeria
Economic and Financial Crimes Commission (EFCC) has revealed that cryptocurrency is being utilized as a means of payment for the importation of illegal arms into Nigeria. Ola Olukoyede, chairman,…
- 22 Nov 2019
US Accuses Onyema, Air Peace Boss of $20m Fraud
United States Attorney's Office for the Northern District of Georgia, said it has charged Allen Ifechukwu Athan Onyema, chairman, CEO, and founder of Air Peace, with bank fraud and money laundering…
- 25 Jul 2017
Diezani Lavishes $144m on Yacht, Artworks- US
Mrs. Diezani Alison-Madueke, former minister of Petroleum Resources, allegedly laundered about $144m, using part of the funds to purchase a yacht, landed properties, furniture and artworks, according…
- 17 Jul 2026
FG Moves to Crack Down on Crypto Fraud with Virtual Assets Executive Order
President Bola Tinubu has signed the Presidential Executive Order on Virtual Assets Coordination, 2026, introducing a coordinated framework to regulate Nigeria’s fast-growing virtual assets sector,…
- 17 Jul 2026
Tinubu Moves to Protect Nigerians From Crypto Scams With New Executive Order
President Bola Tinubu has signed the Presidential Executive Order on Virtual Assets Coordination, 2026, to strengthen regulation of Nigeria's virtual assets sector through improved collaboration…
- 11 Dec 2013
US Fines Julius Berger N5.1Bn For Bribing Nigerian Officials
The United States Justice Department and the Federal Bureau of Investigation (FBI) have confirmed that construction giant Julius Berger’s foreign affiliate Bilfinger SE, has agreed to pay N5.1…