The Economic and Financial Crimes Commission (EFCC) has arrested a former Chief Financial Officer (CFO) of NNPC Limited (NNPCL), Umar Isa, over an alleged $7.2 billion fraud connected to the rehabilitation of the Kaduna, Warri and Port Harcourt refineries. Also in the custody of the EFCC is a former Managing Director of Warri Refinery, Jimoh Olasunkanmi. As CFO, Isa was …

A Nigerian, Kingsley Utulu, has been sentenced to five years and three months in prison for his role in a large-scale hacking and identity theft scheme that defrauded the U.S. tax authorities and private individuals of over $2.5 million. The sentencing, announced on Saturday by the U.S. Attorney for the Southern District of New York, Jay Clayton, and the Assistant …

Fraudsters have stolen N329m by using static images to register for Bank Verification Numbers. This is according to a new report by the Nigeria Inter-Bank Settlement System, which outlines emerging fraud trends in Nigeria’s financial sector. According to the report obtained by Sunday PUNCH, some unscrupulous BVN enrollment agents facilitated the scheme by registering still images of individuals, both Nigerians …

The Kano State Public Complaints and Anti-Corruption Commission (PCACC)has launched an investigation into a large-scale land scam valued at N20 billion across various parts of the state. At least 15 suspects have been apprehended, including the Registrar of the Kano State High Court, three lawyers, and four officials from the Ministry of Lands. The commission’s chairman, Muhuyi RiminGado, disclosed this …

The Ogun State Police Command has arrested a 25-year-old man, Bukola Olabode, who allegedly defrauded Point of Sale operators (PoS) and residents of Ihunbo in the Ipokia Local Government Area while impersonating a police officer. According to PUNCH Metro on Thursday, residents apprehended the suspect on Tuesday, and subsequently handed over to officers of the Nigerian Security and Civil Defence …

To commemorate the upcoming International Anti-Fraud Awareness Week, PalmPay, a financial institution in Nigeria, is launching a series of community-focused initiatives to educate the public on fraud prevention and digital security. The highlight of this initiative is a community walk themed “United Against Fraud: Building a Safer Future”, set to take place across Lagos on 22 November 2024. A statement …

The Federal Bureau of Investigation (FBI), has urged the Economic and Financial Crimes Commission (EFCC), to help with the arrest of two Nigerian fugitives wanted over healthcare fraud in the United States. Babatunde Shodiya and Yinka Jamiu were on 25 September indicted by a grand jury at the U.S. District Court of Minnesota over a scheme that saw healthcare providers …

New York’s scandal-plagued mayor Eric Adams was federally charged Thursday with crimes including wire fraud, soliciting illegal foreign campaign donations and bribery conspiracy, a stunning indictment unsealed amid calls for him to resign. The grand jury indictment follows a sweeping probe into the mayor’s campaign and his close associates on whether he conspired with Turkish government officials to receive illegal …

Fraud cases involving computer, mobile, and Point-of-Sale (PoS) systems accounted for the majority of fraudulent activities recorded in Nigeria during the second quarter of 2024. This was revealed in the latest fraud report by the Financial Institutions Training Centre (FITC), which detailed a total of 11,532 cases during the period under review. “Computer/web fraud, mobile fraud, and PoS-related fraud were …

Operatives of the Nigeria Police Force have arrested a crypto billionaire, Linus Williams, popularly known as BLord. Blord was arrested in Abuja on Tuesday following allegations of cryptocurrency fraud, terrorism funding, and aiding internet fraud among others against his companies. Speaking in an interview with our correspondent, the Force spokesperson, Muyiwa Adejobi, said he was arrested due to complaints against …