Featured Nigeria

Where FATF crypto compliance gets interesting: Africa

Africa isn’t included on the virtual asset regulatory map just yet. But crypto businesses seeing strong growth across the 54-country continent are working hard on know-your-customer (KYC) rules to meet the exacting standards set out by the Financial Action Task Force (FATF). A broad range of entities operating in Africa,… Read More

The U.S. is a haven for money laundering. That might be about to change.

The phrase “shell company” conjures images of offshore havens such as Panama or the British Virgin Islands, but one of the world’s leading enablers of financial secrecy is actually the United States. In every state, more personal details and proof of identity are required to get a library card… Read More

Cybercrime: Nigeria Police, Interpol Arrest Three Suspects In Edo

Operatives of the Nigeria Police Cybercrime Unit and the INTERPOL National Central Bureau (NCB), Abuja, have arrested three suspects over advance fee fraud, money laundering and romance scam. The Force Public Relations Officer (FPRO), Mr Frank Mba, disclosed this in a statement on Sunday in Abuja. He said the suspects… Read More
13th July 2020
Nigerian President Muhammadu Buhari on Friday ordered the immediate suspension of the Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, and instituted an investigation against him for his alleged involvement in various cases of financial irregularities. A statement issued from the president’s office stated that Magu was… Read More
9th July 2020
The United States government has gained custody of a Nigerian man who could have been behind the multi-million cyberattack on Bank of Valletta in February 2019. The FBI’s criminal complaint says that Ramoni Igbalode Abbas aka “Hushpuppi”, who amassed 2.4 million followers on Instagram flaunting luxury cars, designer clothing,… Read More
6th July 2020
Almost two decades after the collapse of Enron Corp., a former unit of the energy-trading giant is sparring with U.S. and Nigerian authorities over the proceeds of the sale of a luxury yacht. The dispute pivots on the Galactica Star — a 213-foot vessel once worth more than $80 million. Read More
6th July 2020
A Nigerian social-media celebrity was extradited to the U.S. from Dubai to face fraud charges. Ramon Olorunwa Abbas was flown to Chicago on July 2 and appeared in court the following day, the U.S. Department of Justice said in a statement. Abbas, widely known as “Hushpuppi,” has 2.4 million followers… Read More
30th June 2020
AP – Victor Stemberger wasn’t about to ignore the emails inviting him into a multimillion-dollar business opportunity, so he pitched himself as perfect for the job. In a way he was — but for all the wrong reasons. The 76-year-old Virginia man, whose family says he has cognitive issues,… Read More
29th June 2020
A Nigerian influencer who attracted millions of followers by posting selfies from private jets and photographs of his collections of luxury cars, shoes and watches has been arrested amid claims of a £350 million cyberscam. Officers from the FBI and Interpol seized more than £30 million in cash when they… Read More
11th June 2020
Imran Aliyu Abdulhameed, son of Aliyu Abdulhameed, the embattled Managing Director, Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) was jailed by the government of Ras AL Khaimah, the United Arab Emirates for laundering money, in case number 2018/4796, SaharaReporters can exclusively confirm. Imran was jailed in August 2018… Read More
9th June 2020
Nigeria has tracked down and grounded the luxury private jet purchased by its former oil minister, Dan Etete, with some of the alleged proceeds of the nororious $1.3 billion Malabu OPL245 oil deal. Asset recovery lawyers acting for the Nigerian government swooped last week after the Bombardier 6000 jet, tail… Read More
1st June 2020
OCCRP—A British Virgin Islands-based firm allegedly paid more than US$390,000 in bribes to land a natural gas processing plant construction contract in 2009, Nigeria’s attorney general said in a statement obtained by OCCRP and its Nigerian member center, the Premium Times. In 2012, Process and Industrial Developments (P&ID), an… Read More
25th May 2020
Royal Dutch Shell Plc and Eni SpA won dismissal of a $1 billion U.K. lawsuit brought against them over allegations they knew about bribes in a Nigerian oil deal. A London judge ruled Friday that England has no jurisdiction to try the case as it involves the same… Read More