Tag: efcc

On Saturday, the Economic and Financial Crimes Commission (EFCC) seized the international passport of former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, as investigations into the recovery of Abacha loot intensify.

The seizure forms part of the ongoing probe into the movement of $490 million Abacha loot, earlier secured through Mutual Legal Assistance (MLAT).

Malami is now barred from travelling out of Nigeria for one month, following strict bail conditions tied to his temporary release.

It was gathered that the condition for his release at 1:00 a.m. on Saturday was that he report daily for interaction at the EFCC headquarters in Abuja.

The former AGF is expected to provide detailed clarifications to the EFCC regarding the movement and location of the said funds in the coming month.

According to The Nation, a fact sheet disclosed that Malami has multiple issues requiring clarification with the commission over the next 30 days.

It stated, “We have asked him to explain the whereabouts of $490 million Abacha loot secured through Mutual Legal Assistance (MLAT).

“We won’t join issues with him on his braggadoci,o but we will release our findings to the public after painstaking investigation.”

The Economic and Financial Crimes Commission (EFCC) has opened an investigation into a viral video showing an unidentified man spraying bundles of naira notes inside a church in Warri, Delta State.

The EFCC spokesperson, Dele Oyewale, confirmed the development, stating that the commission was already reviewing the footage and noting, “The matter is under investigation,” according to PUNCH.

The video, which has sparked widespread outrage on social media, shows the man spraying various denominations, including N200, N50, and N20 notes, on a dark-coloured cow brought into the church during what appeared to be a thanksgiving ceremony.

A woman beside him held a large pile of cash while he continued spraying.

The atmosphere in the church took on the tone of a social party, with hip-hop music blasting as the church’s pastor sang in Urhobo.

A hype man repeatedly hailed the man as a “young billionaire,” urging congregants to recognise him as he threw money amid loud cheers.

The footage has drawn heavy criticism online. A user identified as Fortis wrote, “This is very offensive to watch. More worrisome is the fact that children are even in this congregation. This is indeed disgraceful.”

Another user, @BishopBoye, commented, “They didn’t do 1/10 of what these people are doing before Jesus flogged them at the temple. 2,000 years later, just look at this.”

Similarly, Ituma Sunny said, “Please don’t call this a church. There is no real church that will tolerate this nonsense.”

Asiegbu Odenigbo added, “Yahoo boy doing thanksgiving in a yahoo church for the yahoo pastor.”

John Vianney Dominic described the act as “Baal worship,” warning that “those who attended need deliverance.”

Another user, Prince Ade-Chameleon, alleged, “It will interest you to know that these aren’t yahoo boys but kidnappers.”

However, when contacted, the Delta State Police Public Relations Officer, SP Bright Edefa, did not answer calls to his mobile phone.

Naira abuse has remained a persistent issue in Nigeria, particularly at social and religious events where spraying money is viewed as a display of wealth.

The practice contravenes Section 21 of the Central Bank of Nigeria Act, which prohibits the tampering and mishandling of the nation’s currency.

The EFCC has intensified its clampdown on currency mutilation, making several arrests and securing convictions in recent years.

The agency has insisted that the abuse of the naira undermines its dignity, encourages illicit financial conduct, and contributes to economic disorder.

The Enugu Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) on Thursday, November 13, 2025, arraigned Obinna Nwaobi, a former Head of Operations at Access Bank Nigeria Plc, before Justice F. O. Giwa-Ogunbanjo of the Federal High Court sitting in Independence Layout, Enugu State.

He was arraigned on a nine-count charge bordering on forgery and criminal division of 510, 000. 00 USD (Five Hundred and Ten Thousand United States Dollars), belonging to a customer of the bank.

Count seven of the charge reads: “That you, Obinna Nwaobi while being (Head of Operations) of Access Bank Nigeria Plc, Enugu branch on or about the 8th day of August, 2024 in Enugu State, within the jurisdiction of the Federal High Court of Nigeria, induced Access Bank Nigeria Plc to transfer a total sum of Five Hundred and Ten Thousand United States Dollars ($510, 000. 00) from LANTERN GATE NIGERIA LIMITED Access Bank Account number 0761770127 under the false pretence that Lantern Gate Nigeria Limited gave her consent and mandate for the said transfer which petence you knew to be false and you thereby committed an offence contrary to Section 1 (b) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under Section 1 (3) of the same Act”.

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

According to the petitioner, the sum of $510, 000. 00 belonging to its customer, Lantern Gate Nigeria Limited was moved to six different accounts on the authorization of Obinna Nwaobi, its Head of Operation as at that time, without the approval of the customer.