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| EFCC puts record 40 in jail, warns money launderers |
The Economic and Financial Crimes Commission, EFCC recorded 40 convictions in January 2019, a sign of ‘bigger harvests to come’, according to Acting Chairman Ibrahim Magu.
In 2018, the commission recorded 312 convictions, the highest in a year since it was founded 16 years ago.
Magu hinted recently that the commission wants to surpass the 2018 mark as it is poised to effectively coordinate the country’s efforts in the global fight against money laundering and terrorism financing.
“Those who stole our commonwealth should know that there is no hiding place for them. A searchlight is being beamed on them. It is in their interest to surrender because the game is up,” Magu told his staff in Lagos.
Half of the convictions in January happened in Lagos, according to a statement by spokesman, Tony Orilade.
According to the details published, Abuja office got nine convictions, Port Harcourt six, Kaduna three, Kano two while Benin, Ibadan and Gombe had one conviction each.
During the month, the former officials of the Independent National Electoral Commission, INEC were sentenced to 91 years in jail and made to forfeit their properties to the Federal Government.
The duo were found guilty of laundering N264.8 million in the build up to the 2015 general election- a sum which was believed to be their share of the $115 million- illicitly dispensed by the former Minister of Petroleum Resources Diezani Alison-Madueke.
Also in the month, Ibrahim Suleiman who defrauded the former First Inland Bank, now part of FCMB Plc of N400.7 million was sentenced to 32 years imprisonment.
Suleiman diverted the money from First Inland Bank to his account account from where he transferred various sums to different accounts.
Adewale Dalmeida, a staff of Dangote Cement Group was sentenced to a five year jail term for the diversion of nine trucks that were loaded with 800 bags of cement each, valued at N120 million which belong to his employer.
Efe Egube, a former bank manager in the defunct Oceanic Bank got seven year jail term from a Lagos High Court, presided over by Justice Atinuke Ipaye, after he was found guilty of obtaining N50.049 million under false pretence.
He was arraigned alongside his company, Ocean Energy Trading and Services Limited, sometime in 2014 on a 19-count charge.
Also jailed during the month was a young man, who pleaded guilty for collecting money for products not delivered by an online store, “Beat Classic Stores,” created to sell shoes and bags. He was sentenced to six months in jail.
Given the new trends in internet fraud, the enhanced counter- fraud strategies of the Commission in this direction have also been yielding good dividends, Orilade said.
In 2018, the commission recorded 312 convictions, the highest in a year since it was founded 16 years ago.
Magu hinted recently that the commission wants to surpass the 2018 mark as it is poised to effectively coordinate the country’s efforts in the global fight against money laundering and terrorism financing.
“Those who stole our commonwealth should know that there is no hiding place for them. A searchlight is being beamed on them. It is in their interest to surrender because the game is up,” Magu told his staff in Lagos.
Half of the convictions in January happened in Lagos, according to a statement by spokesman, Tony Orilade.
According to the details published, Abuja office got nine convictions, Port Harcourt six, Kaduna three, Kano two while Benin, Ibadan and Gombe had one conviction each.
During the month, the former officials of the Independent National Electoral Commission, INEC were sentenced to 91 years in jail and made to forfeit their properties to the Federal Government.
The duo were found guilty of laundering N264.8 million in the build up to the 2015 general election- a sum which was believed to be their share of the $115 million- illicitly dispensed by the former Minister of Petroleum Resources Diezani Alison-Madueke.
Also in the month, Ibrahim Suleiman who defrauded the former First Inland Bank, now part of FCMB Plc of N400.7 million was sentenced to 32 years imprisonment.
Suleiman diverted the money from First Inland Bank to his account account from where he transferred various sums to different accounts.
Adewale Dalmeida, a staff of Dangote Cement Group was sentenced to a five year jail term for the diversion of nine trucks that were loaded with 800 bags of cement each, valued at N120 million which belong to his employer.
Efe Egube, a former bank manager in the defunct Oceanic Bank got seven year jail term from a Lagos High Court, presided over by Justice Atinuke Ipaye, after he was found guilty of obtaining N50.049 million under false pretence.
He was arraigned alongside his company, Ocean Energy Trading and Services Limited, sometime in 2014 on a 19-count charge.
Also jailed during the month was a young man, who pleaded guilty for collecting money for products not delivered by an online store, “Beat Classic Stores,” created to sell shoes and bags. He was sentenced to six months in jail.
Given the new trends in internet fraud, the enhanced counter- fraud strategies of the Commission in this direction have also been yielding good dividends, Orilade said.
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