The EFCC N1.23 trillion recovery announced by the Economic and Financial Crimes Commission is drawing attention not only because of the size of the figure, but because of what happens to the money and assets after they are recovered. EFCC Chairman Ola Olukoyede said the commission recovered N1.233 trillion, $684.48 million, £373,905.78 and €9.34 million…
INTERPOL Operation Jackal IV has delivered 58 arrests and identified 263 suspects across 22 countries in an eight-month crackdown targeting West African organised crime groups, including Black Axe. The operation ran from November 2025 to June 2026 and focused on cyber-enabled financial crime, money laundering and the people helping criminal networks move and hide their…
Nigeria’s fuel subsidy reform is now being tied to one of the country’s biggest long-term challenges: access to education. The Federal Government says the removal of the petrol subsidy generated an estimated ₦15.8 trillion in savings between June 2023 and December 2025. But the government has stressed that this money was not sitting in one…
The Economic and Financial Crimes Commission has recovered $60 million from Nestoil Limited and paid the money to a consortium of creditor banks, but the bigger story is what the recovery says about Nigeria’s growing problem with large corporate debts. The payment is the first stage of a structured repayment plan agreed between Nestoil and…
A Federal High Court in Abuja has ordered the final forfeiture of 48 properties linked to former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), after ruling that the Economic and Financial Crimes Commission (EFCC) established reasonable suspicion that the assets were acquired through proceeds of unlawful activities. The ruling was delivered…
