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April 5, 2024 EFCC Set to Prosecute Bobrisky on Charges of Money Laundering This Friday
IFMNEWS

EFCC Set to Prosecute Bobrisky on Charges of Money Laundering This Friday

The Economic and Financial Crimes Commission (EFCC) lodged a six-count charge against Idris Olanrewaju Okuneye, famously known as Bobrisky, on Thursday.

Bobrisky is slated to appear before Justice Abimbola Awogboro of the Federal High Court, Lagos, for arraignment on Friday (today).

The charges encompass various alleged offenses, including abuse of the naira and purported money laundering.

As outlined by the EFCC Prosecutor, Senior Advocate of Nigeria Rotimi Oyedepo, along with seven other legal representatives, the accusations detail Bobrisky's actions at social events.

In the first count, Bobrisky is accused of tampering with N400,000 by spraying it while dancing at a gathering at the IMAX Circle Mall, Lekki, Lagos, on March 24, 2024. This contravenes Section 21(1) of the Central Bank Act of 2007.

The subsequent counts detail similar incidents where Bobrisky allegedly tampered with varying amounts of money at different events.

Additionally, Bobrisky is charged with failing to disclose the activities of his company, Bob Express, to the Special Control Unit Against Money Laundering. This is in relation to transactions totaling N127.7 million and N53 million made between September 1, 2021, and April 4, 2024.

These actions are deemed offenses under the Money Laundering (Prevention and Prohibition) Act and are punishable accordingly.

March 18, 2024 Court Orders Binance To Release Data Of Nigerian Users To EFCC
IFMNEWS

Court Orders Binance To Release Data Of Nigerian Users To EFCC

A Federal High Court in Abuja has issued an order directing Binance Holdings Limited to furnish the Economic and Financial Crimes Commission (EFCC) with comprehensive information regarding Nigerian users trading on its platform.

The court's decision stemmed from an ex-parte motion filed by the EFCC, seeking data on Nigerians engaged in trading activities on Binance. The suit, marked FHC/ABJ/CS/259/2024 and dated February 29, was filed in accordance with relevant sections of the Economic and Financial Crimes Establishment Act, 2004, and the Money Laundering (Prevention and Prohibition) Act, 2022 (as amended).

In an affidavit supporting the motion, deposed by EFCC operative Hamma Bello, it was revealed that the commission's Special Investigation Team received intelligence suggesting illicit activities, including money laundering and terrorism financing, being conducted on the Binance cryptocurrency exchange platform. The investigation uncovered users manipulating prices and causing market distortions, leading to the devaluation of the Naira against other currencies.

Despite requests to address these concerns, Binance allegedly failed to take adequate action. The affidavit further disclosed that trading volume from Nigeria on the platform in 2023 alone amounted to $21.6 billion.

Justice Emeka Nwite, in a ruling delivered on February 29, granted the interim order, compelling Binance to provide the EFCC with comprehensive data on Nigerian traders using its platform.

Binance is an online exchange facilitating cryptocurrency trading. Concerns about its operations arose following disclosures made by the Governor of the Central Bank of Nigeria, Olayemi Cardoso, who revealed that over $26 billion had been transacted through Binance without proper oversight in the past year.

Furthermore, the Financial Times reported on February 28 that two executives of Binance were arrested upon their arrival in Nigeria due to a ban on their website. Subsequently, on March 12, 2024, the EFCC requested data on the top 100 users in Nigeria and transaction histories for the past six months from Binance, sparking negotiations between the company and Nigerian authorities.

March 6, 2024 EFCC’s Legal Action Against Naira Marley For Alleged Cyber Crime Hits A Roadblock
IFM Social Media

EFCC’s Legal Action Against Naira Marley For Alleged Cyber Crime Hits A Roadblock

The criminal trial of Nigerian singer Azeez Fashola, popularly known as Naira Marley, faced a delay in proceeding at a Federal High Court in Lagos on Wednesday due to a pending application for fiat before the Chief Judge (CJ) of the court.

Justice Isaac Dipeolu, the trial judge, was informed by the prosecutor, Mrs. Bilikisu Buhari, that an application for fiat, necessary for the former judge to continue presiding over the defendant's trial, was awaiting approval by the CJ. The application was dated December 8, 2023.

Naira Marley is being prosecuted by the Economic and Financial Crimes Commission (EFCC) on charges related to cybercrime, with the charges having been preferred on May 14, 2019. He was initially arraigned on May 20, 2019, before Justice Nicholas Oweiboo, where he pleaded not guilty. Justice Oweibo granted him bail in the sum of two million naira with two sureties in like sum.

Although the trial had commenced, with witnesses still being led in evidence, Justice Oweibo was later transferred out of the Lagos division of the court, leading to the case being transferred to Justice Dipeolu.

During the first appearance before Justice Dipeolu, Buhari represented the prosecution, while Mr. V.C Maduagwu appeared for the defendant. The defense counsel confirmed the prosecutor's statement to the court.

The court adjourned the case until May 30 to await a report on the pending application for fiat, following the disclosure by the prosecutor and defense counsel.

The EFCC alleges that Naira Marley committed the offenses on various dates between November 26, 2018, and December 11, 2018, as well as May 10, 2019. It is alleged that he conspired with others to use different Access Bank ATM cards to defraud victims and used a bank credit card issued to another person to obtain fraudulent financial gains. Additionally, he is accused of possessing counterfeit credit cards belonging to different people with the intent to defraud, which constitutes theft.

These alleged offenses contravene the provisions of Sections 1, 23 (1) (b), 27 (1), and 33(9) of the Cyber Crime (Prohibition) Prevention Act, 2015.

February 13, 2024 Alleged $6bn Fraud: Agunloye Asks Court To Decline Jurisdiction
IFMNEWS

Alleged $6bn Fraud: Agunloye Asks Court To Decline Jurisdiction

Justice Jude Onwuegbuzie of a Federal Capital Territory High Court sitting in Apo, Abuja, has declined to hear the preliminary objection by former Minister of Power, Dr Olu Agunloye, challenging the power of the Economic Financial Crimes Commission (EFCC) to prosecute him on the alleged 6 billion dollars Mambilla Hydroelectric Power Station fraud.

The judge held that the application needed to be ripe for hearing. He subsequently adjourned the matter till February 26, 2024.

In the preliminary objection, Agunloye seeks an order prohibiting the EFCC from further prosecuting the instant charge against him.

He also said the charges' alleged offences were on his activities as a public officer, where he was alleged to have awarded the contract without budgetary provision, approval, or cash backing.

He further said that another of the charges involved alleged disobedience of the directives of the President of the Federal Republic of Nigeria and forgery of a letter dated May 22, 2003

READ ASLO: Ex-Minister Agunloye Remanded In Kuje Prison Over Alleged $6bn Mambilla Hydropower Fraud

Olu Agunloye was arraigned on a seven-count charge bordering on the fraudulent award of a contract and official corruption in January 2024.

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