The Economic and Financial Crimes Commission (EFCC) announced on Tuesday that it has arraigned an information and communication technology consultant, Umar Abdullahi, on charges of fraud and money laundering amounting to N131.8 million and $200,000.

The arraignment was conducted on Monday in the Federal High Court, Maitama, Abuja, before Justice Emeka Nwite.

Abdullahi has been charged with four counts pertaining to his alleged financial improprieties. These charges include obtaining money under false pretenses, advance fee fraud, and money laundering, with the alleged offenses occurring between June and August 2024.

One of the charges states: “That you, Umar Abdullahi, during the period between July 2024 and August 2024, in Abuja, within the jurisdiction of this Honourable Court, did accept and transact cash payment of $200,000 (Two Hundred Thousand Dollars) for the allotment of shares in Multi Access Controls Limited, exceeding the Ten Million Naira threshold, without the transaction being conducted through a financial institution.”

Another charge asserts: “That you, Umar Abdullahi, in June 2024, in Abuja, within the jurisdiction of this Honourable Court, with the intent to defraud, did receive the sum of N104,980,000.00 (One Hundred and Four Million, Nine Hundred and Eighty Thousand Naira) into Account Number: 2266267081, held with Zenith Bank Plc, from Aura Integrated Energy Resources Limited under the false pretenses that the funds were designated for the procurement of telecommunication equipment and logistics for Nigerian Communications Commission personnel, a claim you knew to be false.”

The EFCC indicates that these offenses violate Section 2 (1) (a) of the Money Laundering (Prevention and Prohibition) Act, 2022, as well as Section 1 (1) (b) of the Advance Fee Fraud and Other Related Offences Act.

Mr. Abdullahi entered a plea of “not guilty” to all charges.

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This case originates from a petition filed by Alhaji Shehu Badamosi with the EFCC’s Ilorin Zonal Directorate. Badamosi alleged that Abdullahi approached him claiming to have secured a contract with the Nigerian Communications Commission and requested financing of N131.8 million and $200,000 for its execution. Following the provision of these funds, Abdullahi reportedly ceased communication, rendering Badamosi’s attempts to recover the funds unsuccessful.

Prosecution counsel Cosmas Ugwu requested that the defendant be remanded in a correctional facility pending trial, citing a prior breach of administrative bail granted by the EFCC. In contrast, the defense counsel, Agbonlahor, requested that the defendant be remanded in EFCC custody.

After considering the arguments presented by both counsels, Justice Nwite ordered that Abdullahi be remanded at Kuje Correctional Centre, Abuja, and adjourned the case until September 8, 2025, for the commencement of the trial.

The Federal High Court in Ikoyi, Lagos, on Thursday, convicted Olufemi Martins Thomas, a former Executive Secretary of the National Health Insurance Scheme (NHIS), and Kabiru Sidi, a Bureau De Change operator, of their involvement in fraud case involving more than $2 million, as reported by Premium Times.

The judge, Ayokunle Faji, found Mr Thomas guilty of transacting beyond the legal threshold without utilising a financial institution, an offence contrary to money laundering regulations. He was subsequently sentenced to a fine of N10 million.

His co-defendant, Mr Sidi, was found guilty of making a false statement to an investigating officer of the Economic and Financial Crimes Commission (EFCC) and was fined N100,000.

EFCC brought amended seven charges of money laundering, among others, against the duo. Six of the counts against Mr Thomas related to money laundering and transferring proceeds of unlawful activities in cash, in contravention of the Money Laundering (Prohibition) Act, 2011 as amended. Mr Sidi faced a single count of making false statements to an EFCC official.

According to the charges, Mr Thomas procured his wife, Mrs Femi Thomas, to disguise the unlawful origin of about $2 million ($2,198,900) on or about 3 July 2015. This was deemed an offence contrary to Section 18 and punishable under Section 15(2)(a) and (3) of the Money Laundering (Prohibition) Act, 2011 (as amended).

Mr Sidi’s charge stated that on or about 15 July 2015, at the EFCC office in Ikoyi, Lagos, he made a false statement to Afeez Mustapha, an investigating officer, claiming he gave over two million United States dollars to Bamidele Ibiteye. This was found to be an offence contrary to Section 39(2)(b) and punishable under Section 39(2)(c) of the Economic and Financial Crimes Commission (Establishment) Act, 2004.

Both defendants had pleaded “not guilty” to the charges, leading to a full trial.

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In his oral submissions during the final hearing on 29 May, the prosecution counsel, Ekele Iheanacho, a Senior Advocate of Nigeria (SAN), argued that the prosecution had established a prima facie case against the defendants, which had been upheld by the Court of Appeal after an initial no-case submission by the defence was overruled.

“This is a case of money laundering, where the issue of concealment of transaction is paramount and that is why the law requires such transactions to go through financial institutions so that there will be a trial,” Mr Iheanacho said.

Despite the convictions on specific counts, Justice Faji discharged Dr. Thomas on counts one, two, three, four, and seven of the charge.

The Federal High Court in Abuja, on Tuesday, has again rejected a fresh bail application by Jesam Michael, CEO of the cryptocurrency trading platform Afriq Arbitrage System (AAS), in an alleged investment fraud case against him, involving $844,416.36, $10,000, and N590 million, as reported by Nairametrics

Justice Obiora Egwatu had fixed Tuesday for ruling after taking fresh arguments from EFCC counsel Geraldine Ofulue and Michael’s lawyer, Kanu Agabi SAN, at previous proceedings.

This is the third bail application to be filed by Michael against the Economic and Financial Crimes Commission (EFCC) and rejected.

Nairametrics previously reported that on June 10, 2025, the court remanded Jesam Michael at the Correctional Centre over the alleged investment fraud case, following the EFCC’s charges.

The remand order was granted after Michael’s bail was again denied, following the reading of a seven-count charge before Justice Obiora Egwatu of the Federal High Court, Abuja, at the time.

Legal Dispute
The EFCC accused Michael and his company of engaging in specialized financial services, including investment management, without a valid license.

According to the EFCC, between September 2022 and June 2023, Michael and his company, while not being a bank or an authorized entity to take deposits, invited the public—through advertisements—to deposit funds with Afriq Arbitrage System Limited.

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This, the Commission stated, contravenes Section 44(1) of the Banks and Other Financial Institutions Act, 2020, and is punishable under the same Act.

The judge, in a previous ruling, observed that about 50,000 victims were affected by the alleged fraud and emphasized the need for a speedy trial while the suspect remains in custody.

The matter was then adjourned for trial.

Trial proceedings had commenced when the defendant’s lawyer, Kanu Agabi SAN, filed another bail application for his client.

At the previous court session, Agabi had asked the court to grant his client fresh bail on grounds of “ill-health,” arguing that bail is at the discretion of the court.

But EFCC counsel Ofulue adopted her counter-affidavit in opposition to the bail application.

She urged the court to dismiss the application as an abuse of court process, noting that a ruling on bail had already been given.

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She stressed that the defendant had not provided any assurance to the court regarding the safety of people’s investments.

She added that since the Correctional Centre had directed Michael to be examined at the University of Abuja Teaching Hospital, it proves they are addressing his medical needs.

Court Ruling
Ruling on the bail application, Justice Egwatu held that Michael’s request for bail on health grounds was “lacking in merit.”

The judge agreed with the EFCC that the management of the Kuje Correctional Centre, where he is currently remanded till the end of the trial, had the capacity to take care of him.

The judge highlighted that the ailment of the defendant was not the type that could pose a health risk to other inmates.

The judge subsequently refused the bail application and adjourned the matter till July 25 for continuation of the trial.

According to Nairametrics, Justice Emeka Nwite, a vacation judge at the time, had on May 9, 2025, refused an earlier bail application by Jesam Michael.

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Justice Nwite denied the bail motion filed by Michael’s legal team, emphasizing that a charge had already been filed against him.

The judge directed that Michael’s arraignment must take place before any bail application can be considered.

The Abuja Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on Monday, July 21, 2025, has arraigned one Philip Ifejimalu Eze and a company allegedly linked to him, Orimiri Oil and Gas, over alleged N63,000,000 fraud in Abuja.

The defendants were arraigned before Justice A.H. Musa of the Fedr FCT High Court Apo-Abuja on a one count charge, according to a statement by the EFCC.

The EFCC alleges that the development contravened Advance Fee Fraud.

EFCC Case
According to the EFCC, the defendant allegedly had intent to defraud one Chief Amech Nduka of Amatex Oil and Gas to deliver 45,000 liters of Automatic Gas Oil valued at N63,000,000, through inducement.

The Commission seeks punishment for the alleged contravention.

The charge reads “That you, Philip Ifejimalu Eze while being the Managing Director of Orimiri Oil and Gas sometime in 2024 in Abuja, within the jurisdiction of this Honourable Court, with intent to defraud, induced one Chief Amech Nduka of Amatex Oil and Gas to deliver 45,000 liters of Automatic Gas Oil valued at N63,000,000 (Sixty Three Million Naira only) which payment was made via a bank cheque of Mainstreet Bank Plc which you knew had already been liquidated as same was rejected at Zenith Bank Plc when presented for payment which pretense you knew to be false and you thereby committed an offence contrary to Section 1(a) of the Advanced Fee Fraud and Other Related Offences Act, 2006 and punishable under Section 1(3) of the same Act”

What transpired in court

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At the resumed court session, the defendant and the company were arraigned before the judge.
He pleaded not guilty when the charge was read by the registrar.

This prompted prosecution counsel, Mariya Ujudud Shariff to request for a date to commence trial.
But the defendants legal team urged the court to grant his client bail on liberal terms.

Ruling on the bail application, Justice Musa granted the suspect bail with two sureties, one of whom must be a civil servant not below Grade Level 12.

” The surety must bring a letter of introduction from his place of work to be verified by the Court Registrar while the other must have a house within the jurisdiction of the court and depose to an affidavit and sign a N2, 000,000 (Two Million Naira) bail bond,” the judge ruled, according to the EFCC.

The judge then adjourned the matter till November 11, 2025, for commencement of trial.

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A Federal High Court sitting in Kaduna has granted an interim order, restraining the Economic and Financial Crimes Commission, EFCC, from arresting or harassing a Dubai-based Nigerian businessman, Rabiu Auwalu-Tijjani.

According to DAILY NIGERIAN, EFCC had declared Mr Tijjani, an indigene of Kano state, wanted over $1,931,700.12 money laundering allegations.

The declaration was disclosed in a notice signed by Dele Oyewale, EFCC’s spokesman on July 11.

Mr Oyewale had said the suspect was alleged to have committed conspiracy and obtained money under false pretences, in contravention of relevant laws.

In a swift reaction, Mr Tijjani refuted the EFCC’s claim and threatened to take legal action against the anti-graft agency.

Saddened by the EFCC’s public declaration to arrest him, the international gold merchant filed an ex parte motion, through his counsel, Muhammad Zakariyya-Dikko, Esq. on July 16 to restrain the anti-graft agency from arresting him.

The two respondents are EFCC and Mr. Ifeanyi Ezeokoli.

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The order, granted on Monday by Justice H. Buhari, was in response to an ex parte motion seeking protection of Mr Tijjani’s fundamental rights to liberty and freedom of movement as enshrined in Sections 35 and 46 of the 1999 Constitution.

Justice Buhari, having reviewed the application, granted an interim order restraining the EFCC from inviting, arresting, detaining, harassing, or prosecuting Mr Tijjani, pending the hearing and determination of the substantive motion.

The matter was adjourned to September 18 for hearing.

Background of the case

According to a sworn affidavit filed by Mr Tijjani’s legal representative, the crisis began after the EFCC had published Mr Tijjani’s name and photograph on its official website on July 11, 2025, declaring him wanted for alleged conspiracy, obtaining money by false pretence, and money laundering to the tune of $1,931,700.

Mr Tijjani, a renowned international gold merchant and the first Nigerian to be licensed to establish a gold refinery in Nigeria, denied all allegations, describing the EFCC’s move as malicious and damaging to his reputation and business interests, especially his refinery project in Abuja.

The affidavit revealed that Mr Tijjani had entered into a business transaction with one Ifeanyi Ezeokoli in January 2022, involving the exchange of $76 million in Dubai for the naira equivalent in Nigeria.

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Following the transaction, Mr Tijjani said he refunded an overpayment of ₦26 million to Mr Ezeokoli after reconciling figures.

However, he later discovered that he himself had overpaid Mr Ezeokoli by over $2 million due to double entries.

The embattled businessman initially reported the matter to the State Security Services, SSS, after several attempts to ensure reconciliation of accounts with Ifeanyi failed.

Upon this, both parties agreed to an independent audit, which allegedly revealed fictitious addresses for the companies linked to the overpaid funds.

The audit reportedly took six months due to the volume of documents involved.

The affidavit said Mr Ezeokoli became uncooperative during the investigation and instead filed a petition at the EFCC Kaduna Zonal Office, which Mr Tijjani alleges was done to cover up fraudulent dealings and to escape SSS scrutiny.

Despite submitting documents to EFCC Kaduna through a representative and not receiving any further invitation or query, Mr Tijjani was shocked to find himself declared wanted by the anti-graft agency.

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He argued that he was never invited in writing, nor was he contacted by the EFCC before the public notice, which he said violated his fundamental rights.

He further claimed that the viral EFCC publication caused widespread embarrassment, with family, friends, and global business associates questioning his integrity, and his foreign investors reconsidering their involvement in the refinery project.

Half of the current 36 state governors -18 – are being investigated by the Economic and Financial Crimes Commission (EFCC), according to the anti-graft agency’s Chairman, Ola Olukoyede, as reported by The Nation.

Those found wanting will face the law at the end of their tenure, he said.

Olukoyede spoke during a sensitization programme for movie producers, musicians and bureau de change operators, in Lagos on Friday.

The programme was meant to educate the participants on the ills of naira mutilation and abuse.

“As I am talking to you, I am investigating about 18 governors who are still serving. When they leave (office), we will go to the next level,” he said.

He, however, did not name the governors being probed or give further details of the investigation.

Speaking on naira abuse and mutilation, he recalled the case of a former governor who was arrested in the United Kingdom for spraying pounds at his own (ex-governor’s) birthday party.

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The manager of the hotel hosting the birthday party, Olukoyede said, had called in the authorities after seeing the ex-governor spraying £50 and £10 bills.

The suspect, he added, was already under EFCC’s investigation while in office, but fled the country just before the expiration of his tenure, to avoid arrest.

“This governor was investigated while he was in office. Immediately he finished his tenure, the following day, he took off to England to avoid arrest by EFCC,” the EFCC chair said.

“Coincidentally, that week happened to be his birthday. He organised a birthday party in the hotel where he was staying.

“While the party was going on, he started spraying pounds — £50 bills and £10 bills.

“So the manager of the hotel was called. He came down and saw the former governor spraying pounds.

“He had never seen such a thing in his life, so he had to call 911.

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“When the Metropolitan Police came, he asked that they should help arrest the former governor.

“The ex-governor was arrested and they wanted to put him in an ambulance.

“The people — his friends, colleagues and two governors — who went to London to celebrate with him had to intervene.

“They said the ex-governor was not a mad man, because the hotel manager thought he was mad.”

Olukoyede sought the cooperation of critical stakeholders from the entertainment industry, media, legal profession and bureau de change operators as well as security agencies with the EFCC in the fight against naira abuse in the country.

“The Naira is a symbol of our sovereignty. How we treat it reflects how much we respect ourselves as a people,” he said.

He particularly condemned the rampant spraying, stamping and mutilation of the Naira at social functions.

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He said previous efforts to stamp out the practice have not achieved the desired result.

His words: “Over the past year, the EFCC, in collaboration with the Central Bank of Nigeria (CBN), has intensified enforcement and public awareness campaigns to combat Naira abuse.

“These efforts include the establishment of a Task Force on Dollarisation and Naira Abuse, as well as the prosecution of offenders, including public figures and celebrities.”

He did not agree with those who called money spraying at parties a cultural practice.

He said: “As a salary earner myself, it is unimaginable for me to throw my hard-earned income into the air.

“An offence is an offence, and ignorance of the law is no excuse.

“Being a criminal offence under the CBN Act and the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, Naira abuse imposes a heavy financial burden on the Central Bank, which expends substantial resources replacing defaced or mutilated notes.”

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He urged musicians and other entertainers to help in educating their fans on the proper handling of the national currency.

“In every performance, let one of your opening lines be a reminder to your fans that spraying or stamping on the Naira is a crime.

“We must all rise to defend the integrity of our currency,” Olukoyede said.

He said much of the stolen public funds recovered by the agency was being made available to support social investment initiatives of the Federal Government.

Specifically, N100 billion recovered proceeds of crime have been committed to the National Education Loan Fund (NELFund) and the Consumer Credit Scheme (Credicorp).

Recovered assets have also been deployed to fund the skill acquisition centre and liaison office for the NDDC in Bayelsa State while a confiscated property in Kaduna State has been converted to the Federal University of Applied Sciences, Kachia.

Another speaker at the session was the Director General of the National Orientation Agency (NOA), Mallam Lanre Isa-Onilu, who described naira abuse as not only unlawful but unethical.

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“As citizens, we must embody civic responsibility and national cohesion. Our actions must align with the National Values Charter.

“Values must be our guide in everything we do,” he said.

He added: “The Naira is not confetti. It is not an accessory for prestige. It is a national asset that demands respect.

“When you honour the Naira, you honour Nigeria.”