Deposit money banks in Nigeria have reported a sharp rise in fraud cases and the amount of money lost in the second quarter of 2023, Q2’23. The latest report also shows that the number of insider involvement rose astronomically. The total amount involved in the fraud cases during the period rose to N9.75 billion, up by a whopping 276.98 per …

A chartered accountant, Omafume Ayinuola, and her mother, Lydia Ehrievuyere, were, on Wednesday, arraigned by the police before the Federal High Court in Lagos for allegedly laundering N1,072,254,411 and  $975,102.58. The daughter and mother were arraigned alongside their company, Patridia Resources Limited, before Justice Nicholas Oweibo, by the Force Criminal Investigation Department Annex, Alagbon, Ikoyi, Lagos. They are facing 15 …

A chief magistrate’s court on Tuesday ordered that a former Commissioner for Works and Infrastructure, Idris Wada-Saleh, be remanded in Kano State Public Complaints and Anti Corruption Commission(PCACC) Custody over alleged N1 billion fraud. The defendant, a commissioner to former Governor Abdullahi Ganduje, is charged with giving false information and cheating. Chief Magistrate Tijjani Sale-Minjibir ordered the defendant’s remand in …

The Economic and Financial Crimes Commission (EFCC), yesterday, arraigned one Wilson Daphey (aka Jefrey Guiseppe) before Justice Mobolaji Olajuwon of a Federal High Court sitting in Abuja on a nine-count charge bordering on obtaining money under pretense and money laundering. Daphey allegedly manipulated and obtained the sum of £120,150 from one Ms Petra Goschenhofer with the assistance of Evans Nnamdi …

The Kaduna Zonal Command of the Economic and Financial Crimes Commission (EFCC) has secured the conviction of a woman identified as Oluwayemisi Samuel, and her son, Joshua, before the Kaduna State High Court on separate count charges, each bordering on false information. In a statement on Wednesday, EFCC said that Oluwayemisi and Joshua squandered N5.6 million on sports betting and …

A 28-year-old man, Ekene Itodo, who allegedly obtained N1.2 million from three people under false pretences of securing jobs for them, on Thursday appeared at an Ejigbo Magistrate’s Court, Lagos State. According to the News Agency of Nigeria, Itodo is standing trial on five counts bordering on conspiracy, fraud and breach of peace. He, however, pleaded not guilty. The prosecutor, Assistant …