The money, handed over in bank drafts, formed part of the funds recovered by the Commission in the course of an investigation into an alleged case of abuse of office, forgery, stealing and diversion involving two former employees of the company.

Investigation revealed that the suspects, Nkechi Gladys Megai, who is currently at large after fleeing to the United Kingdom, and Godson Eze, a former Chief Financial Officer, abused their positions by forging documents, creating fake invoices in the names of the company’s legitimate vendors, and diverting funds through fraudulent transactions carried out over a period of time.

The investigation also revealed that the fraudulent payments ran into several hundreds of millions of naira.

During the handover ceremony, the Acting Zonal Director of the Lagos Zonal Directorate 2 of the EFCC, Assistant Commander of the EFCC, ACE I Bawa Usman Kaltungo, reaffirmed the Commission’s commitment to ensuring that victims of economic and financial crimes obtain justice and, where possible, recover assets fraudulently obtained from them.

Kaltungo also disclosed that “efforts are ongoing to ensure that all persons connected with the fraud, including those who have fled the country, are brought to justice in accordance with the law.”

The company’s legal representatives, while receiving the bank drafts, expressed appreciation to the EFCC for its painstaking investigation, professionalism and commitment to recovering the stolen funds.

They also assured the Commission that the recovered money would go a long way towards mitigating the losses suffered by the company.

The post EFCC Hands Over N108m Recovered Funds to Greenwich Planet Sun King appeared first on Business Today NG.

The Notice of Appeal was filed on Friday, July 10, 2026 by counsel to the EFCC, Wahab Shittu, SAN.

In the appeal contained in Suit No: FCT/HC/CV/1199/2024, the EFCC expressed dissatisfaction with the “whole of the judgment of the High Court of the Federal Capital Territory, sitting at Maitama, Abuja, Coram: Hon. Justice Peter O. Kekemeke, delivered on the 8th day of July, 2026….”

Specifically, the appeal was hinged on 11 grounds and four different orders. The orders the Commission is seeking in the appeal, are orders allowing the appeal, setting aside the whole of the judgment, dismissing Agunloye’s claim before the trial court in entirety and any other order the court may deem fit to make in the circumstances of the appeal.

Justice Kekemeke had declared in his judgment that the EFCC’s publication on Agunloye was false, defamatory and injurious to the former Minister’s reputation and awarded N10 million in damages against the Commission.

Shittu, in the appeal, also filed a stay of execution of the judgment of the trial court.

No date has been fixed for the hearing of the appeal.

The post N10million Damages: EFCC Appeals Judgment Against Agunloye appeared first on Business Today NG.

The trouble began for the auto dealer following a petition from a buyer who claimed he paid Ogbonna the ₦15.4 million in October 2023 to assist him in importing three cars. Upon receiving the substantial sum, the defendant promised to deliver the vehicles on or before Christmas Day, December 25, 2023. However, instead of delivering the cars or returning the money, Ogbonna allegedly converted the funds to his personal use, leaving the buyer stranded.

The court charges detailed how the money was systematically diverted. Count one states that in September 2023, within the jurisdiction of the High Court of Enugu State, Ogbonna fraudulently converted ₦4,000,000 belonging to Mr. Paulson Nwakoby, which was meant for the vehicle purchase. Count two details another ₦4,000,000 fraudulently converted between November 28 and December 10, 2023. These actions violate Section 342 of the Criminal Code Law, Cap 30, Enugu State, and are punishable under Section 353 (1) of the same law.

Appearing in court, the defendant pleaded “not guilty” to all charges read to him. In view of the plea, EFCC counsel and Assistant Commander of the EFCC, ACE II Rotimi Ajobiewe, prayed the court for a definitive trial date and requested that the defendant be remanded in the custody of the Nigerian Correctional Service (NCoS) in Enugu. Justice Ezeugwu subsequently adjourned the matter to July 16, 2026, for the hearing of the bail application and ordered that Ogbonna be remanded at the EFCC’s holding facility in the interim.

The post How Enugu Auto Dealer Chukwuebuka Ogbonna Allegedly Pocketed ₦15.4m Meant for Importation appeared first on Business Today NG.

Bodejo faces a 12-count charge bordering on money laundering and operating outside established financial banking frameworks.

During Thursday’s court proceedings, prosecution counsel Wahab Shittu, SAN, introduced the 12-count charge application dated June 24, 2026, and filed on June 25, 2026. He requested that the court allow the defendant to take his plea, a motion that was granted by Justice Ekwo.

According to the charge sheet, the offenses involve significant physical cash transactions that bypassed statutory thresholds. Count one alleges that on January 11, 2022, in Abuja, Bodejo willfully and unlawfully accepted a physical cash payment of $100,000 from Sa’idu Abubakar, a former Accountant-General of Bauchi State who is currently in police custody. This transaction violated Section 1(a) of the Money Laundering (Prohibition) Act, 2011 (as amended), by exceeding the statutory cash transaction limit of ₦5,000,000 without passing through a financial institution.

Similarly, count four of the charge states that on February 7, 2024, Bodejo accepted another physical cash payment of $980,000 from the same former Bauchi State Accountant-General, breaching Section 2(1)(a) of the Money Laundering (Prevention and Prohibition) Act, 2022.

Bodejo pleaded “not guilty” to all 12 counts. Following the plea, the prosecution counsel requested a definitive trial date and asked that the defendant be remanded in a correctional facility.

Conversely, the defense counsel, Ahmed Raji, SAN, urged the court to grant his client bail, referencing a bail application filed on June 30, 2026.

The prosecution strongly opposed the bail application, presenting a 28-paragraph counter-affidavit dated July 6, 2026. Shittu argued that the defendant poses a public risk, noting that the Department of State Services (DSS) maintains a watch on him. He further argued that due to Bodejo’s influential status, he could potentially compromise witnesses and interfere with the progress of the trial.

Justice Ekwo ordered that the defendant be remanded in the EFCC’s holding facility and adjourned the matter until July 20, 2026, for a ruling on the bail application.

The post 2.33m Fraud: Miyetti Allah Leader Bello Bodejo Remanded in EFCC Custody appeared first on Business Today NG.

The charge, marked FHC/ABJ/CR/360/2026 and dated and filed on June 22 by the Commission’s counsel, Ekele Iheanacho, SAN, listed Dikko and Masterpiece Projects & Investment Limited as first and second defendants respectively.

Dikko, who led the Port Harcourt Refining Company for about four years, pleaded not guilty to a 12-count charge filed against him by the Commission on Wednesday, July 8, 2026.

The EFCC accused Dikko of laundering N1,322,839,112.7 (One Billion, Three Hundred and Twenty-Two Million, Eight Hundred and Thirty-nine Thousand, One Hundred and Twelve Naira, Seven Kobo) in proceeds allegedly linked to contractors engaged by the Nigerian National Petroleum Company Limited (NNPCL) for the rehabilitation of the Port Harcourt refinery, through cash property purchases, undisclosed bank retentions, third-party fund concealment and unauthorised currency conversion, in violation of the Money Laundering (Prevention and Prohibition) Act, 2022.

Count one reads in part: “That you AHMED ADAMU DIKKO… did directly make cash payment of the dollar equivalent of the sum of N218,375,000.00 to one Hadeija Bashir for the purchase of Plot 558, Abubakar Umar Street, Katampe Extension, Abuja without passing through a financial Institution and you thereby committed an offence contrary to Sections 2(1)(a), 19(d) of the Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under Section 19(2)(b) of the same Act.”

Count eight reads: “That you AHMED ADAMU DIKKO, former Managing Director of the Port Harcourt Refining Company Ltd (PHRC) on or about the 26th of June, 2023 in Abuja within the jurisdiction of this Honourable Court disguised the origin of the sum of N328,710,337.50 (Three Hundred and Twenty Eight Million, Seven Hundred and Ten Thousand, Three Hundred and Thirty Seven Naira, Fifty Kobo) paid into the GTBank Account Plc No. 0123201507 operated by Masterpiece Projects & Investment Limited by OMSA Integrated Services Limited from the transactions involving NNPC Limited allocation of Vacuum Gas Oil for export when you knew that the said sum of N328,710,337.50 constituted proceeds of unlawful activity and you thereby committed an offence contrary Section 18(2) (a) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”

Count eleven reads: “That you AHMED ADAMU DIKKO between October, 2022 and May, 2025 did convert the aggregate sum of $77,080 through Ibrahim Isa Yaro which amount did not form part of your known lawful earnings as a former public officer with the Nigerian National Petroleum Company Ltd and you thereby committed an offence contrary to Section 18(2)(b) of the Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under Section 18(3) of the same Act.”

The defendant pleaded not guilty to the charges when they were read to him.

Thereafter, counsel to the defendant, Okechukwu Ajunwa, SAN urged the court to grant the defendant bail pending the determination of the suit. Iheanacho, however, opposed the bail application.

In his ruling on the bail application, Justice Ekwo granted the defendant bail in the sum of N150,000,000 (One Hundred and Fifty Million Naira) with a surety who must be resident within the jurisdiction of the court and with a landed property valued at not less than the bail sum. He ordered that the defendant be remanded in the custody of the EFCC pending when he’s able to meet the bail conditions.

The matter was therefore adjourned to October 12, 13 and 14, 2026 for trial.

The post EFCC Arraigns Former MD Of Port Harcourt Refinery for Alleged N1.32bn Money Laundering appeared first on Business Today NG.

Ayeni was re-arraigned on an amended 18-count charge bordering on alleged criminal breach of trust, misappropriation, and diversion of funds amounting to N15.6 billion following the EFCC`s submission of additional proof of evidence.

At Monday`s proceedings,  prosecution counsel,  Abba Muhammed SAN, informed the court of an amended charge and additional proof of evidence filed on June 22, 2026.

In response,  defence counsel,  Abdul Mohammed SAN confirmed that he was duly served with the charge.

Count three of the charge reads  “That you Tunde Ayeni, whilst being the Chairman, Board of Directors of the defunct Skye Bank Plc (now Polaris Bank Limited) on or about the 18th of September, 2014 at Abuja within the jurisdiction of this Honourable Court and having dominion over depositors’ funds domiciled in the defunct Skye Bank Plc’s Suspense Account, committed criminal breach of trust when you dishonestly misappropriated the sum of Five Hundred and Ten Million Naira (510,000,000) by transferring same to Capital Field Investment Group Limited’s account No:1770125552 domiciled with Skye Bank in violation of the defunct Skye Bank Plc Operational Policy Manual  and thereby committed an offence contrary to Section 311 of the Penal Code and punishable under Section 312 of Same Act.”

Count five also reads, “That you Tunde Ayeni, whilst being the Chairman, Board of Directors of the defunct Skye Bank Plc (now Polaris Bank Limited) on or about the 23rd September, 2014 at Abuja within the jurisdiction of this Honourable Court and having dominion over depositors’ funds domiciled in the defunct Skye Bank Plc’s Suspense Account, committed criminal breach of trust when you dishonestly misappropriated the sum of Six Hundred Million Naira (N600,000,000) by transferring same to Harigold Ventures Limited’s account No:0000834983 domiciled with Sterling Bank in violation of the defunct Skye Bank Plc Operational Policy Manual  and thereby committed an offence contrary to Section 311 of the Penal Code and punishable under Section 312 of Same Act.”

He pleaded not guilty to all the charges when they were read to him.

Ayeni was first arraigned on May 4, 2026 on a 17-count charge.

Justice Onwuegbuzie adjourned the matter till July 6, 2026, for commencement of trial.

The post Alleged N15.6bn Fraud: EFCC re-arraigns Ex-Skye Bank MD appeared first on Business Today NG.

The training focused on strengthening corporate governance, regulatory compliance, and risk management across the company and its subsidiaries.

Speaking during the session, Ibinabo Mary Amachree,Head, SCUML, Lagos, highlighted the importance of compliance at board level, emphasizing directors’ personal and corporate liabilities under the Money Laundering (Prevention and Prohibition) Act (MLPPA) 2022 and the Terrorism Financing Prevention and Prohibition Act (TFPPA) 2022.

She also spoke on critical areas including board responsibilities in AML/CFT compliance, fundamentals of money laundering, terrorism financing risks, legal and regulatory frameworks, preventive compliance measures, and governance oversight duties.

Participants were also educated on Know Your Customer (KYC) procedures, customer due diligence (CDD), suspicious transaction reporting, targeted financial sanctions screening, record keeping, and independent audit requirements.

Interactive case-study sessions exposed participants to sector-specific risks across subsidiaries of the group, including Tirex Petroleum & Energy, Still Earth Construction, and Still Earth Capital Finance. Discussions focused on issues such as over-invoicing, shell companies, offshore payments, contract splitting, structuring, fake guest records, politically exposed persons (PEPs), and rapid movement of funds.

Commenting on the training, Kingsley Inyama, Head, Credit Risk described the programme as timely and essential in helping participants understand the dynamics of anti-money laundering and terrorism financing compliance.

According to him, financial institutions and businesses must go beyond merely monitoring inflows into accounts and pay closer attention to the source and legitimacy of funds.

He said: “The essence of the training is to understand when anti-money laundering violations or terrorism financing may be taking place. In business, especially in the international sector, it is important to know the source of funds and how money moves through the financial system.

“Everybody wants to see money coming into accounts, but the critical question is: where is the money coming from? If someone claims to be selling vehicles or household items, does the volume of funds correspond with the business activity?

“This training is important because learning in compliance is continuous. Every time you undergo training like this, new issues emerge, new questions arise, and you gain a better understanding that helps you perform your job more effectively.”

Kingsley further noted that one of his major takeaways from the programme was the importance of identifying both legal and beneficial owners in business transactions.

“For the kind of work I do, we deal with transactions involving corporate entities and individuals. The training has helped me understand that whenever you see a legal owner, it is important to probe further to identify the beneficial owner and ensure proper due diligence.

“The penalties for failing to carry out due diligence can include fines, sanctions, and even imprisonment. That is why compliance is extremely important,” he added.

The training ended with discussions on proposed board resolutions, including the adoption of a zero-tolerance policy on money laundering and terrorism financing, establishment of compliance committees, annual training mandates, and approval for independent audits.

The annual compliance programme was attended by staff and management of Still Earth Holdings’ and her subsidiaries ( Still Earth Capital Finance, Tirex Petroleum & Energy, and Still Earth Construction.)

The post Still Earth Holdings Boosts Governance Structure Through EFCC-SCUML Compliance Training appeared first on Business Today NG.

Mamman was arrested in the early hours of Tuesday, May 19, 2026 following weeks of intensive surveillance and intelligence gathering by operatives of the Commission.

Addressing journalists on the arrest, Executive Chairman of the EFCC, Ola Olukoyede, disclosed that the former minister went underground after he was convicted by the Federal High Court sitting in Abuja on corruption charges.

“On May 7, 2026, Justice James Omotosho found Mamman guilty on all 12 counts bordering on diversion of funds meant for the Zungeru and Mambilla hydroelectric power projects. The court convicted him in absentia after agreeing with the Commission that the prosecution had proved its case beyond reasonable doubt,” he said.

“For us, getting the convict to serve his jail terms is extremely important in view of the seriousness with which we are tackling corrupt practices. It is this resolve that made us deploy intelligence to tracking and arresting the convict. We will process his transmission to the Correctional Centre accordingly”, he said.

Justice Omotosho had, in his judgment, held that the EFCC successfully established that Mamman and his associates diverted not less than N22 billion meant for the execution of critical power projects. The court further held that the defence failed to present credible evidence capable of discrediting the prosecution’s case.

The judge condemned the diversion of public funds earmarked for the Zungeru and Mambilla hydroelectric projects, describing the act as a gross abuse of public trust. He also noted that the convict deployed proxy companies and associates to siphon and benefit from funds meant for critical national infrastructure.

Mamman, who served as Minister of Power between 2019 and 2021 under the administration of former President Muhammadu Buhari, supervised Nigeria’s power sector and major hydroelectric projects, including the Mambilla and Zungeru power projects.
Following his conviction, the court ordered that he be arrested and produced before it on May 13, 2026, for sentencing. However, the convict failed to appear in court on the scheduled date, prompting the court to proceed with sentencing in his absence.

Justice Omotosho subsequently sentenced Mamman to seven years imprisonment each on Counts 1, 2, 3, 6, 7, 8, 9, 10, 11 and 12 without an option of fine. He was also sentenced to three years imprisonment on Count 4 with an option of N10 million fine and two years imprisonment on Count 5 without an option of fine.
The court further ordered that the sentences run consecutively, bringing the total jail term to 75 years.
Apart from the conviction, Mamman is also facing another corruption trial before the Federal Capital Territory High Court, Abuja, over alleged N31 billion fraud.

On May 11, 2026, Justice Maryanne Anenih issued a bench warrant for his arrest following his failure to appear for proceedings in the matter involving him and seven others

The post N33.8bn Power Fraud: EFCC Arrests Fleeing Ex-Power Minister, Saleh Mamman in Kaduna appeared first on Business Today NG.

The suspects were arrested on Friday, May 8, 2026, after arriving from Dubai via Ethiopian Airline ET941. While they initially declared $130,000 and $180,000 respectively at the currency declaration desk, a subsequent physical examination by Customs officers revealed an additional undeclared $120,000 on the first suspect (bringing his total to $250,000) and an additional $31,600 on the second suspect (bringing his total to $211,600). The undeclared amounts contravene Sections 3 and 4 of the Money Laundering (Prevention and Prohibition) Act 2022.

Upon handover by the Acting Customs Area Controller, Deputy Comptroller UU Adamu, the Zonal Director of the EFCC Kano Directorate, Assistant Commander of the EFCC, ACE1 Friday S. Ebelo, assured the Nigeria Customs Service of the Commission’s commitment to a full-scale investigation.

“The EFCC will conduct a thorough and uncompromising investigation into this matter. We will prosecute the case with the utmost diligence to ensure that violators of our anti-money laundering laws face the full weight of justice,” he said.

He further expressed deep appreciation to the NCS for the long-standing and consistent cooperation of the Service with the EFCC over the years, noting that such inter-agency collaboration remains critical in combating the illegal movement of cash and financial crimes.

Similarly, in his earlier remarks, Adamu expressed his deep appreciation to the EFCC’s for its unwavering support to the Nigeria Customs Service.

‘’Let me express appreciation for the continuous collaboration with the EFCC Kano Zonal Directorate for their support in realizing our goal while combating the illegal movement of cash”, he said.

Following the formal takeover, the two suspects, along with the recovered undeclared currency and other relevant exhibits, were transported to the office of the Kano Zonal Directorate of the EFCC, where they are currently being held for further investigation and potential prosecution.

The post EFCC Probes Two Suspects Intercepted with Undeclared $461,600 at Kano Airport appeared first on Business Today NG.

The aircraft, with model number 800XP, serial number 258553 and registration number 5N-AMK, was forfeited following an application by the EFCC.

Ruling on the application, Justice Nwite held that no sufficient cause was shown by Valiente Jet Limited, a company owned by Abdulsalam Mustapha Kachallah, an interested party, why the aircraft should not be finally forfeited to the Federal Government.

“The interested party has not demonstrated with evidence the lawful origin of the funds used to purchase the aircraft,” the judge held, stressing that the disguised manner through which the aircraft was acquired using the name of a Bureau De Change operator who denied knowledge of the nature of the transaction further lent credence to the unlawfulness of the entire transaction.

The court had earlier granted an interim forfeiture order on November 13, 2025 and directed the Commission to publish the order in a national newspaper for interested parties to show cause why the aircraft should not be permanently forfeited.

Following the publication, a company, Valiente Limited whose owner is Alhaji Abdulsalam Mustapha Kachallah filed affidavits to show cause. The application for final forfeiture was supported by an affidavit deposed to by Aminu Abdullahi, an investigator with the EFCC.

According to the investigator, the Commission received intelligence bordering on conspiracy, obtaining money by false pretence and money laundering involving Kachallah.

Investigation revealed that sometime in 2021, the Nigerian National Petroleum Company Limited, NNPCL, awarded contracts under the Maiduguri Emergency Power Project valued at $114,148,155 (One Hundred and Fourteen Million, One Hundred Forty Eight Thousand, One Hundred and Fifty Five Dollars) and ₦23,172,969,904, (Twenty Three Billion, One Hundred and Seventy Two Million, Nine Hundred and Sixty Nine Thousand. Nine Hundred and Four Naira) .

Kachallah, who was then Chairman of the Borno State Rural Electrification Board and a member of the project’s steering committee, used his position and relationship with officials of the NNPCL to engage in illicit dealings connected to the project.

Investigation showed that Kachallah entered into unlawful agreements with China Machinery Engineering Company, CMEC, through companies in which he had substantial interest, and sold privileged bidding information relating to the project in exchange for financial inducements.

The investigation further showed that CMEC was subsequently awarded three contracts under the project valued at $52,120,172 (Fifty Two Million One Hundred and Twenty Thousand, One Hundred and Seventy Two Dollars) and ₦20,213,956,953 (Twenty Billion, Two Hundred and Thirteen Million, Nine Hundred and Fifty Six Thousand, Nine Hundred and Fifty Three Naira).

Part of the contract funds was routed through Afuwa Integrated Services Limited, a Bureau De Change operator, under the false claim that the company was subcontracted by CMEC.

CMEC transferred the sum of $2,070,000 (Two Million, Seventy Thousand Dollars) into the Stanbic IBTC Bank account of Afuwa Integrated Services Limited on Kachallah’s instruction.

Investigation further revealed that forged invoices were prepared in the name of Afuwa Integrated Services Limited to falsely portray that legitimate services had been rendered to CMEC.

The funds were thereafter transferred to a Brazilian account for the purchase of the aircraft from a Brazilian company.

Kachallah fraudulently used Afuwa Integrated Services Limited to acquire the aircraft before forging documents to transfer ownership to Valiente Jet Limited, a company linked to him. Although Kachallah opposed the application, claiming that payments made into CMEC through the bank account of Afunwa Integrated Services was based on contract his company entered into with CMEC to facilitate the award of contract to the latter on the MEPP as well to provide consultancy services to the latter.

The matter was argued by parties on April 30, 2026. The EFCC which was represented by Iheanacho Ekele SAN, and O.S. Ujam, further argued that the action of Kachalla violated the provisions of Sections 8, 10, and 53 of the ICPC Act as well as the Money Laundering and Prohibition Act and that the evidence showed that Kachallah was a public officer appointed by the Borno State Government.

Kachallah was represented by M.E. Oru, SAN, and maintained that Kachalla was different from his companies that entered into the agreements and that some of the exhibits attached to the EFCC’s affidavit were not admissible. The submission was quickly rebutted by Iheanacho who cited several judicial authorities to show that in cases of fraud or illegality, the law allows the veil of incorporation to be lifted to show persons behind the companies. He relied on the case of Oyebanji vs State.

He also stated that the documents attached to the affidavit need not be further certified by the authorities of Aondoakaa vs Obot & Anor, Musa vs Jika.

In a well considered judgment and being satisfied with the evidence placed before it, Justice Nwite granted the final forfeiture of the aircraft to the Federal Government of Nigeria.

The post Maiduguri Power Project Fraud: EFCC Secures Final Forfeiture of Private Jet Linked to NNPCL Contract Scam appeared first on Business Today NG.