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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.
Hard Times Await Illegal Miners as Olukoyede Bags MINILS’ Fellowship Award
The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede, has vowed to intensify his crackdown on illegal mining by going after the financiers, mineral buyers, compromised public officials and other collaborators who profit from the illicit exploitation of Nigeria’s mineral resources.
Olukoyede made this disclosure in Ilorin, Kwara State on Tuesday, November 3, 2026, while delivering a Keynote address at a joint conference on Illegal Mining, Corruption and Climate Implications organised by the Michael Imoudu National Institute for Labour Studies MINILS, Ilorin, in partnership with the Human and Environmental Development Agenda, HEDA. Beyond the address, the EFCC’s boss was honoured with the Fellowship of the Institute
Speaking on the theme, “Uprooting the Roots of Resource Theft: A Zero-Tolerance Approach to Mining Corruption and Increasing Insecurity in Nigeria,” the anti graft czar observed that despite Nigeria’s abundant mineral resources, including gold, lithium, tin, lead, zinc and other valuable minerals, the country was yet to maximise their economic benefits due to corruption, illegal exploitation and insecurity. He stressed that mineral wealth could only become a national blessing when properly managed and protected from criminal exploitation.
He explained that illegal mining was not merely the handiwork of individuals operating mining pits but involved sophisticated networks of local and international financiers, buyers, compromised officials, transporters and beneficiaries of illicit proceeds. He therefore advocated an enforcement strategy that goes beyond arresting miners to identifying and dismantling the financial networks behind the criminal enterprise. “A serious enforcement strategy must move from the pit to the purse,” he declared, adding that the EFCC would continue to follow the money, investigate financiers and facilitators, trace illicit proceeds and prosecute offenders based on evidence.
Giving an account of the Commission’s efforts, Olukoyede disclosed that between October 2023 and July 2026, the EFCC recorded 52 illegal-mining cases within its specialised enforcement portfolio, resulting in investigations, prosecutions and convictions. He also revealed that the Commission secured the forfeiture of 102 tonnes of solid minerals. He emphasised that illegal mining was not just an economic crime but could fuel extortion, smuggling, violence and other forms of criminality, thereby worsening insecurity in affected communities.
The EFCC Chairman further called for stronger collaboration among mining regulators, law enforcement agencies, financial intelligence institutions, customs authorities, revenue agencies and host communities. He maintained that effective information sharing, joint intelligence and coordinated operations were essential to identifying the financiers and ultimate beneficiaries of illegal mining. He also urged organised labour, traditional institutions, civil society and the media to support efforts aimed at promoting transparency, decent work and accountability in the extractive sector.
Earlier, the Director-General of MINILS and Chief Host, Comrade Issa Aremu commended the EFCC under Olukoyede’s leadership for its efforts in curbing illegal activities and promoting accountability in the country. He also underscored the importance of the conference in advancing labour education and addressing contemporary challenges confronting workers and the environment.
In his remarks, the Chairman of HEDA Resource Centre, Mr. Olanrewaju Suraju, described illegal mining, corruption and climate degradation as interconnected challenges requiring collective action. He stressed that organised labour must be central to Nigeria’s transition to clean energy to ensure that workers are not left behind. He explained that the three-day engagement was designed to equip labour leaders with advocacy, skills development and collective bargaining tools, while promoting a joint action plan for monitoring suspicious mining activities and a Green Accountability Campaign.
The high point of the event was the conferment of a Fellowship Award on the EFCC Chairman by MINILS in recognition of his contributions to the fight against corruption and related economic crimes.
EFCC Tasks Students on Transparency, Integrity in Kano
The Economic and Financial Crimes Commission (EFCC) has called on students across the country to actively participate in the fight against corruption by supporting and amplifying the efforts of anti-corruption agencies in promoting transparency, accountability and integrity in the country.
The call was made by the Executive Chairman of the Commission, Mr. Ola Olukoyede, who was ably represented by the Acting Zonal Director of the EFCC, Kano Zonal Directorate, Assistant Commander of the EFCC, ACE I Friday S. Ebelo, on Monday, November 2, 2026, during the 2026 National Association of Finance Students (NAFS) Conference held at Bayero University, Kano (BUK).
In a paper presentation titled "The Role of the EFCC in Combating Financial Crimes and Promoting Financial Integrity in Nigeria, Olukoyede highlighted the Commission's mandate, strategies for preventing financial crimes, the deployment of technology in combating economic and financial crimes, the promotion of financial integrity, and the importance of public enlightenment.
He emphasized that students have a significant role to play in strengthening the fight against corruption, noting that the younger generation must remain vibrant and actively involved in supporting the activities of the Commission.
According to him, one of the most effective ways to unite against corruption is for students to support, promote and amplify the work of institutions such as the EFCC.
"At the primary and secondary school levels, we have the Integrity Club serving as a rallying point for students. At the tertiary institution level, we have the Zero Tolerance Club. They are all platforms for engagement against corrupt practices," he stated.
The EFCC’s boss further encouraged students to take responsibility for identifying, reporting and exposing corrupt practices within their respective communities, stressing that the fight against corruption required collective responsibility and sustained public participation.
The conference also provided an opportunity to examine existing gaps in the fight against corruption, with discussions focusing on practical recommendations and strategies for addressing the challenges more effectively.
As part of the engagement, interactions were made with pupils from BUK Staff Model Secondary School and ADDY Basic Secondary School, Rimin Gata, Kano, who were among the invited schools at the Conference. The engagement provided an opportunity to sensitize the younger participants on the importance of integrity, honesty and the need to reject corrupt practices from an early age.
Earlier, the Acting Zonal Director was warmly received by the Vice-Chancellor of Bayero University, Kano, who was heavily represented by the Deputy Vice-Chancellor (Academic), Professor Ahmad Muhammad Sauni, alongside members of the University's management team.
The EFCC's engagement at the conference underscores the importance of youth participation, institutional collaboration and sustained public enlightenment in building a society where integrity, accountability and transparency are upheld.
Alleged N238.35m Fraud: EFCC Arraigns Man in Lagos
The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) on Monday, November 2, 2026, arraigned Adeseun Adeniyi Olukunle before Justice A. O. Okunuga of the Lagos State High Court sitting in Ikeja, Lagos, for an alleged N238.35 million fraud.
Olukunle was arraigned on a 10-count charge bordering on obtaining money under false pretence, stealing and retention of stolen property.
The alleged offences are contrary to Sections 280 and 287 of the Criminal Law of Lagos State, 2011 and Section 328 of the same law,
One of the counts reads: “That you, Adeseun Adeniyi Olukunle, Chanaiyah International Limited and Omotosho Abraham Aremu (at large), sometime in 2025 in Lagos, within the jurisdiction, converted the sum of N11,000,000.00 (Eleven Million Naira) to the use of Faniran Olusoji John, property of Temitope Bolarinde Samuel, aka Boteam Nigeria Limited.”
Another counts reads: "That you, Adeseun Adeniyi Olukunle, Chanaiyah International Limited and Omotosho Abraham Aremu ( at large), sometime in 2025, in Lagos, within the jurisdiction converted the sum of N19, 000,000.00 (Nineteen Million Naira) to the use of Omotayo Faniran property of Temitope Bolarinde Samuel a. k. a. Bó team Nigeria Limited ".
He pleaded not guilty to the charges when they were read to him.
Following his plea, prosecuting counsel, Bilikisu Buhari, urged the court to fix a trial date and remand the defendant in a Correctional centre pending trial.
She informed the court that the second defendant, Chanaiyah International Limited, was controlled by Omotosho Abraham Aremu, who is currently at large. She consequently urged the court to enter a plea of not guilty on behalf of the company, a request that was granted.
However, defence counsel, Yusuf T. Nurudeen, informed the court that he had a bail application on behalf of his client and urged the court to grant the defendant bail on liberal terms.
In his ruling, Justice Okunuga granted Olukunle bail in the sum of N300 million, with two sureties in like sum.
The judge directed that one of the sureties must own landed property within the jurisdiction of the court, subject to verification by the court Registrar. The sureties were also required to provide evidence of tax payment.
The case was adjourned to January 18, 19 and 20, 2027, for the commencement of trial.
EFCC Uncovers Chinese-Operated Illegal Oil Refinery in Ogun
The Economic and Financial Crimes Commission, EFCC, has uncovered an illegal oil refinery operated by Chinese in the Ogere area of Ogun State.
The operation, conducted on Saturday, October 31, 2026, by operatives of the Lagos Zonal Directorate 2 of the EFCC, followed credible intelligence and surveillance by the Commission on the activities of the illegal sludge oil refiners.
The refinery was found deserted when EFCC operatives stormed the premises, following the Commission's earlier clampdown on four illegal lithium processing plants in the area.
However, waste products from the refining process were discovered at the location.
During the raid, underground tanks believed to have been used for heating and processing the sludge oil were also discovered.
Two of the underground tanks inspected contained substances suspected to be Automotive Gas Oil (AGO), otherwise known as diesel.
Preliminary investigations revealed that the operators sourced sludge oil, also known as black sludge, from Warri, Delta State, and Port Harcourt, Rivers State, and transported it to the illegal facility in Ogere for processing.
Further investigation revealed that the illegal operators subjected the sludge oil to intense heat, allowing lighter petroleum components to pass through a series of chambers and filters in a process believed to produce Automotive Gas Oil (AGO) for sale in the Nigerian market.
Security personnel at the facility told EFCC operatives that the Chinese operators never disclosed their identities nor the name of the company behind the facility.
Consequently, operatives of the Lagos Zonal Directorate 2 of the EFCC have since taken over the premises as investigations continue to establish the identities of the operators, the ownership of the facility and the full extent of the suspected illegal activities and economic sabotage.
Couple Bags 14 Years for N67m Fraud in Lagos
Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos State on Monday, November 2, 2026 convicted and sentenced a couple, Harry Uyanwanne and Oluwakemi Odia (a.k.a Kristein Uyanwanne) to a fourteen year imprisonment each for N67,659,592 (Sixty-Seven Million, Six Hundred and Fifty-Nine Thousand, Five Hundred and Ninety-Two Naira) fraud.
The judge also ordered a full restitution of the said sum, Sixty-Seven Million, Six Hundred and Fifty-Nine Thousand, Five Hundred and Ninety-Two Naira to the petitioner, Olusola Odemuyiwa.
One of the counts reads : "Kemi Odia and Harry Uyanwanne (a.k.a Ben Ololorma) sometime in 2010 at Lagos within the jurisdiction of this Honorable court by false pretence and intent to defraud sold the property known as N0 19 Murtala Mohammed Way, Ebute Meta, Oyingbo Lagos to one Harry Dyawanne for the sum of Sixteen Million Naira N16.000,0O0.00) on the false pretence representation that you were authorized to sell the property by the Bonalde Beneficiaries of the Estate of Late Dr Moshood Babatunde Odemuyiwa which representation you knew was false".
The convicts were jailed on a three-count charge bordering on conspiracy, stealing and obtaining money by false pretence brought against them by the Economic and Financial Crimes Commission, EFCC, Lagos Zonal Directorate 1. They were however discharged of the fourth count charge bordering on forgery.
At their arraignment, they pleaded not guilty, and the prosecution counsel, Fadeke Giwa commenced trial, she called three witnesses and tendered several documents while defence called only one witness.
Delivering his judgment, Justice Dada held that the prosecution proved its case beyond reasonable doubt and therefore found both defendants guilty.
On count one, Justice Dada convicted and sentenced the duo to three years imprisonment, on count two- stealing to one year, on count three- obtaining money by false pretence to 10 years(without option of fine) while on count four, forgery, they were discharged.
The judge also ordered that the first defendant’s sentence be suspended until apprehended.
It would be recalled that the prosecution had alleged that sometime in 2010, the duo conspired and dishonestly stole the property of Beneficiaries of the Estate of late Dr. Moshood Babatunde Odemuyiwa contrary to Section 285(1) of the Criminal Law of Lagos State, Nigeria, 2011.
Also, the defendants with false intent to defraud, allegedly sold the property known as Plot 19, Muritala Mohammed Way, Ebute Meta, Oyingbo Lagos to one Harry Uyanwanne( the convict) for the sum of Sixteen Million Naira on the false presentation that the first defendant was authorised to sell the property by the bonafide beneficiaries of the Estate of late Dr. Moshood Odemuyiwa, which representation he knew was false.
Olukoyede Tasks Youths on Responsible Leadership, Accountability
The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede, has warned youths against internet fraud, Ponzi schemes, betting and other get-rich-quick practices, urging them to embrace integrity, financial discipline and legitimate means of earning a living.
He gave the warning in his goodwill message on Saturday, October 31, 2026, while speaking at an event organised by the Great Achievers Initiative for Youth and Community Development in Abuja. The event was themed, “Raising Responsible Leaders, Building Sustainable Nations”.
Olukoyede, who was represented at the event by the Head of the Commission’s Enlightenment and Reorientation Unit, Assistant Commander of EFCC, ACE II Aisha Mohammed, said responsible leadership was fundamental to the fight against economic and financial crimes, noting that leadership failure and corruption were closely linked.
He said no nation could achieve sustainable development on the foundation of corruption, fraud and financial indiscipline.
“No nation can build a sustainable future on the quicksand of corruption, fraud, and financial indiscipline.
"Sustainable nations are not built by natural resources alone, they are built by responsible people, leaders who understand that public trust is not for private gain, that integrity is not negotiable, and that accountability is not optional," he said.
The EFCC chairman said the Commission had observed that the root of most financial crimes was a failure of values, adding that, "We arrest Yahoo boys who want quick wealth without work, we investigate corrupt officials who divert resources meant for communities, and we prosecute those who see leadership as an opportunity for enrichment, not service. This is why this theme resonates deeply with us."
He said the EFCC's mandate went beyond arresting and prosecuting offenders to include public enlightenment and value reorientation, particularly among young Nigerians.According to him, the Commission, through its Public Affairs Department, has continued to establish Integrity Clubs in primary and secondary schools and Zero Tolerance Clubs in tertiary institutions to instil integrity and discourage financial crimes among students.
Olukoyede identified financial responsibility as another critical component of raising responsible leaders, urging youths to embrace legitimate earnings, savings, budgeting and delayed gratification.He warned that the country could not achieve sustainable development if its young population continued to embrace Ponzi schemes, betting and the get-rich-quick syndrome.
The EFCC boss also stressed the need for deterrence, urging young Nigerians to understand that criminal activities such as internet fraud, money laundering and forgery carried consequences that could jeopardise their future opportunities.“A criminal record for internet fraud, money laundering, or forgery will close doors to global opportunities forever. No responsible future is built with a compromised past,” he said.
He reminded the youths that leadership was not restricted to holding public offices, noting that they were already exercising leadership in their homes, schools, social media spaces and communities.“The youth are not just the leaders of tomorrow; they are the leaders of today,” he said.
Olukoyede consequently urged them to prioritise integrity, diligence and service to humanity over popularity, internet fraud and selfish interests.
“I therefore charge you today: Be the responsible leader Nigeria is waiting for. Choose integrity over popularity. Choose diligence over Yahoo-Yahoo. Choose service over selfishness. A sustainable nation is simply a collection of responsible citizens doing the right thing daily,” he said.
EFCC Counsel Misquoted in ALGON’s Lawyer Fraud Allegation Judgment
The Economic and Financial Crimes Commission, EFCC, view with grave concern the misrepresentation of the reaction of its counsel, Larry Peters Aso to the judgment of Justice Suleiman Belgore of the Federal Capital Territory, FCT, High Court in the fundamental rights enforcement suit filed by a legal practitioner, Dr Ted Iseghoi-Edwards.
The judge reportedly cleared Iseghoi-Edwards of alleged fraud relating to services rendered to the nation’s 774 local government councils. He also disagreed with the EFCC regarding its investigation report on the London-Paris Club refunds.
Reacting to the judgment, Aso thanked the judge for his industry in attending to the matter and stated that the EFCC would apply for the Certified True Copy of the judgment “and study it to know the necessary steps to take”.
He never said anything about any EFCC 2024 report on an allegation that Iseghoi-Edwards “fraudulently obtained the judgments, because he instituted proceedings against the Federal government in the United States”.
Additionally, claims that Aso said the report was prepared under pressure from higher authorities “after Iseghohi-Edwards assigned his promissory notes to third parties in the United States, where they threatened to sue the Federal Government”, is totally mischievous and deliberate character assassination.
This framing was intended to insinuate extraneous influences on the matter which never existed. Record of proceedings of the court on Tuesday, October 20, 2026 when the judgment was delivered can be accessed for confirmation of his reaction.
The Commission enjoins the media to be more objective in reporting court proceedings in the interest of justice.
EFCC Calls on Nigerian Students in the Fight Against Corruption
The Executive Chairman of the EFCC, Ola Olukoyede, has called on Nigerian students to actively participate in the fight against corruption, urging them to support and amplify the efforts of anti-corruption agencies in promoting transparency, accountability and integrity.
Olukoyede spoke through the Ag. Zonal Director of the EFCC, Kano Zonal Directorate, ACE I Friday S. Ebelo, on Monday, November 2, 2026, during the 2026 National Association of Finance Students (NAFS) Conference at Bayero University, Kano (BUK).
In the paper titled: "The Role of the EFCC in Combating Financial Crimes and Promoting Financial Integrity in Nigeria," Olukoyede highlighted the Commission's mandate, strategies for preventing financial crimes, the use of technology in combating economic and financial crimes, the promotion of financial integrity and the importance of public enlightenment.
He emphasised that students have a significant role to play in strengthening the fight against corruption, noting that the younger generation must be vibrant and actively involved in supporting the activities of the commission.
The EFCC's engagement at the conference underscores the importance of youth participation, institutional collaboration and sustained public enlightenment in building a society where integrity, accountability and transparency are upheld.
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EFCC Arraigns Man, Company for Alleged N12.5b Fraud in Lagos
The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC), Ikoyi, Lagos on Monday, November 2, 2026, arraigned one Adonu Kingsley Ifeanyi and his company, 'S Mobile Netzone Limited, before Justice J. Bogoro of the Federal High Court, Ikoyi, Lagos, for their alleged involvement in N12,556,837,842.00 (Twelve Billion, Five Hundred and Fifty-Six Million, Eight Hundred and Thirty-Seven Thousand, Eight Hundred and Forty-Two Naira) fraud.
The defendants were arraigned on a five-count charge bordering on obtaining by false pretence contrary to Section 15(2) (d) of the Money Laundering Prohibition Act, 2011 as amended and punishable under Section 15(3) of the same Act and Stealing, contrary to Section 15(2) (d) of the Money Laundering Prohibition Act, 2011 as amended.
Count one reads: “That you Adonu Kingsley Ifeanyi between 4th June,2021 and 31st October,2022,in Lagos within the jurisdiction of this Honourable court did take possession of the total sum of N1,248,237,842(One Billion,Two Hundred and Forty Eight Million, Two Hundred and Thirty Seven Thousand, Eight Hundred and Forty Two Naira) through a bank account with account name “S. Mobile Netzone Limited "which sum you knew forms part of the proceeds of your unlawful activity to wit: obtaining by false pretence.
Another count reads: "That you Adonu Kingsley Ifeanyi between 15th January,2020 and 14th April 2022,in Lagos within the Jurisdiction of this Honourable court did take possession of the total sum of N6,791,500,000.00(Six Billion, Seven Hundred and Ninety One Million, Five Hundred Thousand) through a bank account with account name “S. Mobile Netzone Limited” which sum you knew formed part of the proceed of your unlawful activity to wit: stealing and you thereby committed an offence contrary to Section 15(2) (d) of the Money Laundering Prohibition Act, 2011 as amended and Punishable under Section 15(3) of the same Act.”
The defendants pleaded ‘not guilty’ when the charges were read to them.
In view of their pleas, prosecution counsel, Suleiman. I. Suleiman urged the court to fix a date for trial.
Justice Bogoro granted the prosecution's application and granted the defendant bail on the same terms and conditions given by Justice C.J Aneke on July 8, 2025.
The case was subsequently adjourned till February 11, 2026, for the commencement of trial.
Court Jails Applewood Estate Suspect for Gift Card Fraud in Lagos
Justice Dipeolu of the Federal High Court, sitting in Ikoyi, Lagos, on October 30, 2026, convicted and sentenced one Hassan Usman Olamilekan for offences bordering on money laundering.
Olamilekan was convicted following his arraignment by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) on a one-count charge of money laundering, contrary to Section 18(2)(a) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.
The count reads:
"That you, Hassan Usman Olamilekan, sometime in 2026 in Lagos within the jurisdiction of this Honourable Court indirectly disguised the origin of the sum of $800 (Eight Hundred United States Dollars) in gift cards, which sum forms part of the proceeds of your unlawful activity, and you thereby committed an offence contrary to Section 18(2)(a) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022".
The defendant pleaded guilty to the charge.
Following his plea, the facts of the case were reviewed by an EFCC operative, Ebuka Abanga. The court subsequently found him guilty and convicted him accordingly.
Justice Dipeolu sentenced to a fine of N200,000 and ordered him to remit the sum of N1,000,000 (One Million Naira) to the Federal Government of Nigeria. He is to remain in the Correctional centre pending the payment of the fine and restitution.
The court also ordered the forfeiture of an iPhone 11 Pro and a Poco C71 mobile phone, being items recovered in connection with the offence.
Investigation revealed that Olamilekan, 18, who claimed to hail from the Republic of Benin but was born in Nigeria, was involved in lottery scams and operated several social media platforms, including Facebook, Instagram, TikTok, Zangi and iMessage.
He reportedly met his victim, one Gary Brewer, a United States citizen, through the Zangi application, where he impersonated a white American woman identified as Julie Leach.
Olamilekan told the victim that he had won a lottery prize of $250,000,000 and needed money to activate the winnings before he could claim the prize. He subsequently persuaded the victim to send him gift cards through the Zangi application.
The defendant admitted selling the gift cards through the Cardsonic application, converting them to Naira and transferring the proceeds to his grandmother’s OPay account. He confessed to benefiting from a total of $800 from the fraudulent scheme.
Olamilekan was among the 21 suspected internet fraudsters arrested by operatives of the Lagos Zonal Directorate 1 of the EFCC during a sting operation at Applewood Estate, Orchid Road, Lekki, Lagos State, on October 26, 2026.
Visa fraud is a crime with a receipt— and that receipt is JAIL, BAN or DEPORTATION.
#EndVisaFraud
