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  • EFCC Boss Reveals How Yahoo Boys Stole N7.2m from Serving Judge Overnight

    The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has revealed how suspected internet fraudsters, popularly known as Yahoo Boys, stole more than N7.2 million from the bank account of a serving judge in a midnight cyberattack.

    Olukoyede shared the incident during the public presentation of two books written by Alaba Omolaye-Ajileye, describing it as a clear example of the growing threat posed by cybercrime in Nigeria.

    Judge lost six years of savings overnight

    According to the EFCC chairman, the judge, who serves in one of the South-South states, was awakened around 1 a.m. by multiple debit alerts showing that fraudsters had emptied her account.

    He said the stolen N7.2 million represented six years of savings the judge had set aside to fund her child’s education.

    Olukoyede disclosed that the judge immediately contacted him after discovering the withdrawals.

    EFCC recovered the stolen money

    The EFCC chairman said the commission quickly launched an investigation and successfully recovered the entire amount before 6 p.m. on the same day.

    He added that the incident happened in a state where a court order had previously restricted the EFCC from investigating certain financial crimes.

    According to Olukoyede, the judge later admitted that becoming a victim of cybercrime changed her perspective on the agency’s work.

    “He added that if an application comes before that judge to stop the EFCC from carrying out its mandate, she will refuse it because she has become a victim,” he said.

    Cybercrime remains a major concern

    Olukoyede used the incident to stress the increasing sophistication of internet fraudsters and the need to strengthen efforts to combat cybercrime across the country.

    He noted that cybercriminals continue to target Nigerians from all walks of life, including public officials and members of the judiciary.

    The EFCC has not disclosed the identity of the judge, the specific South-South state involved or whether any suspects have been arrested in connection with the case.

  • Emefiele Trial: Alleged $6.2m Withdrawal Pushed CBN Dollar Account Into ₦2.86bn Deficit, Witness Tells Court

    The trial of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, took a fresh turn on Friday as a prosecution witness told the Federal Capital Territory High Court that an alleged fraudulent $6.2 million withdrawal from the apex bank pushed one of its special dollar accounts into a negative balance of ₦2.858 billion.

    Witness explains alleged deficit

    The 15th prosecution witness, Jim Osayande Obazee, who served as the Federal Government’s special investigator into the CBN, said the funds were allegedly withdrawn from the bank’s Abuja branch without the required naira cover for dollar transactions.

    According to him, the transaction forced the account used for internal staff and Ministries, Departments and Agencies (MDAs) into a deficit of ₦2,858,150,196.42, a development he said should have immediately triggered an investigation by Emefiele and the bank’s chief accounting officer.

    Obazee made the disclosure while testifying before Justice Hamza Muazu during the ongoing trial being prosecuted by the Economic and Financial Crimes Commission.

    How the funds were allegedly released

    The witness told the court that the $6.23 million, reportedly meant for foreign election observers during the 2023 general election, left the Abuja branch of the CBN on February 3, 2023, without proper documentation identifying the receiving official.

    He added that the transaction should have appeared in the CBN’s 2022 financial statements, signed in May 2025, and should also have been detected by both the bank’s internal auditors and external auditors, Ernst & Young.

    Obazee further claimed that the CBN’s Bank Verification Number (BVN) portal was inactive for more than a month before the withdrawal, making it impossible for the recipient to complete normal identification procedures before collecting the funds.

    “The money won’t leave without the governor’s approval,” the witness told the court, arguing that Emefiele should have detected the discrepancies.

    Investigation and recovered funds

    According to the witness, the investigation began after President Bola Ahmed Tinubu appointed him on July 28, 2023, to probe the CBN and related government entities.

    He said investigators discovered that former President Muhammadu Buhari had authorised the release of funds for election observer logistics through a letter addressed to former Secretary to the Government of the Federation, Boss Mustapha.

    Obazee said another letter from Mustapha introduced one Jibril Abubakar as the person authorised to collect the money, while a separate directive from the CBN’s Director of Banking Supervision instructed the Abuja branch controller to release the funds.

    He also told the court that investigators recovered $856,500 from Bashir Maishanu, who allegedly confessed and returned the money during the investigation.

    The witness added that there was no evidence showing the funds ever reached any foreign election observers.

    Defence begins cross-examination

    During cross-examination, Emefiele’s lawyer, Matthew Burkaa (SAN), pointed out that criminal charges had already been filed against the former CBN governor in September 2023, before Obazee’s appointment in December of the same year.

    Obazee confirmed that everyone interviewed during the investigation, including Emefiele, denied involvement in the transaction. He also said Emefiele was questioned while in custody at the Kuje Correctional Centre.

    Justice Muazu ruled during proceedings that the witness could not authenticate Emefiele’s signature on documents presented before the court because he is not a forensic document examiner.

    The court adjourned the case until October 20, 2026, for the adoption of final addresses. Defence counsel also informed the court of plans to file a no-case submission on behalf of the former CBN governor.

  • EFCC Arrests Ex-Power Minister Saleh Mamman After 75-Year Corruption Conviction

    The Economic and Financial Crimes Commission (EFCC) has arrested former Minister of Power, Saleh Mamman, days after he was convicted and handed a 75-year prison sentence over corruption-related offences involving about ₦22 billion.

    EFCC Chairman, Ola Olukoyede, confirmed that Mamman was picked up at about 3:30am on Tuesday in Kaduna following a court order directing security agencies to arrest him wherever he is found.

    Arrest Follows Court Conviction

    Mamman’s arrest comes after Justice James Omotosho of the Federal High Court in Abuja convicted him on a 12-count charge bordering on money laundering and diversion of public funds.

    The court ruled that the prosecution successfully proved its case beyond reasonable doubt, leading to multiple prison terms on each count, which are to run consecutively, amounting to a total of 75 years.

    Justice Omotosho also ordered that the sentence takes effect from the date of Mamman’s arrest.

    ₦22 Billion Power Project Fraud Case

    The former minister was prosecuted over alleged fraudulent transactions linked to the diversion of funds meant for major electricity infrastructure projects under the Ministry of Power.

    The affected projects include the Mambilla and Zungeru hydroelectric power schemes, both considered critical to Nigeria’s long-term energy expansion plan.

    The court further ordered the forfeiture of recovered funds and properties linked to the case to the Federal Government, as well as the refund of outstanding diverted amounts.

    EFCC Moves to Enforce Judgment

    Following the ruling, the EFCC intensified efforts to ensure enforcement of the judgment, leading to Mamman’s arrest in Kaduna.

    The commission said the arrest was necessary to ensure compliance with the court’s decision and continuation of the sentencing process.

    The case adds to ongoing anti-corruption prosecutions involving high-profile former public officials accused of mismanagement of public funds.

  • Court Jails Ex-Power Minister Saleh Mamman 75 Years for ₦33.8bn Fraud, Orders Arrest

    A Federal High Court in Abuja has sentenced former Minister of Power, Saleh Mamman, to 75 years in prison after finding him guilty of money laundering and fraud involving ₦33.8 billion.

    The judgment was delivered on Wednesday by Justice James Omotosho, who convicted Mamman on all 12 counts filed against him by the Economic and Financial Crimes Commission (EFCC).

    Court delivers long jail terms on multiple counts

    The court handed the former minister seven years imprisonment on 10 counts, while he also received three years on one count and two years on another.

    Justice Omotosho ruled that the sentences would run consecutively, meaning they will not run at the same time.

    However, the judge allowed an option of a ₦10 million fine on count four, while maintaining that other counts carry no option of fine.

    ₦33.8bn linked to power projects

    Mamman was arraigned in July 2024 on a 12-count charge bordering on conspiracy and money laundering linked to funds meant for the Zungeru and Mambilla hydroelectric power projects.

    The EFCC alleged that the former minister worked with officials and private firms to “indirectly convert” the ₦33.8 billion in question.

    He pleaded not guilty to the charges marked FHC/ABJ/CR/273/2024.

    EFCC presents witnesses, exhibits

    During trial, the anti-graft agency called 17 witnesses and tendered 43 exhibits before closing its case.

    On May 7, 2026, the court convicted Mamman in absentia after holding that the prosecution had proven its case beyond reasonable doubt.

    Arrest warrant issued

    Following the sentencing, Justice Omotosho ordered the forfeiture of foreign currencies recovered from the convict as well as four properties traced to him in Abuja.

    The court also issued a warrant for Mamman’s arrest and directed security agencies to work with Interpol to ensure his capture.

    Mohammed Ahmed, who appeared for the convict, told the court he was unaware of Mamman’s whereabouts, saying repeated calls to him did not go through.

    The judge ordered that the sentence would commence from the day Mamman is arrested.

  • EFCC Declares Ex-Minister Sadiya Umar Farouq Wanted Over Alleged Fraud

    The Economic and Financial Crimes Commission (EFCC) has declared former Minister of Humanitarian Affairs and Social Development, Sadiya Umar Farouq, wanted over alleged abuse of office and diversion of public funds.

    The anti-graft agency announced the development in a notice published on its official website on Saturday.

    EFCC Releases Details

    According to the notice, Farouq, aged 52, is from Zamfara State and her last known address is listed as EN008, Okpo River, off Agulu Street, Maitama, Abuja.

    The EFCC called on members of the public with useful information about her whereabouts to contact any of the commission’s offices nationwide.

    Phone numbers for reporting information leading to her arrest were also included in the notice released by the agency.

    Court Reportedly Issued Arrest Warrant

    Reports indicated that a Federal Capital Territory High Court sitting in Apo, Abuja, had earlier issued an arrest warrant against the former minister on April 16, 2026.

    The warrant was reportedly connected to ongoing investigations into alleged financial misconduct and abuse of office during her time in government.

    Former Buhari Minister Under Scrutiny

    Sadiya Umar Farouq was appointed Minister of Humanitarian Affairs and Social Development by late former President Muhammadu Buhari in July 2019.

    She was one of the youngest members of Buhari’s cabinet during the administration and oversaw several federal social intervention programmes while in office.

    The EFCC’s latest action is expected to intensify public attention on ongoing anti-corruption investigations involving former government officials.

  • Court Convicts Ex-Power Minister Mamman Over ₦33.8bn Fraud — EFCC Secures Guilty Verdict

    The Federal High Court in Abuja has convicted former Minister of Power, Saleh Mamman, on 12 counts of fraud and money laundering involving about ₦33.8 billion.

    Justice James Omotosho delivered the judgment on Thursday, ruling that the Economic and Financial Crimes Commission (EFCC) proved its case beyond reasonable doubt.

    Court finds overwhelming evidence

    The court held that Mamman was guilty on all counts in the charge marked FHC/ABJ/CR/273/2024.

    Justice Omotosho said the prosecution presented strong and credible evidence, while the defence failed to counter the allegations.

    “The evidence of the prosecution is overwhelming as against the scanty and almost absent defence of the defendant,” the judge stated.

    Funds diverted through BDCs

    The court found that the former minister illegally diverted public funds meant for critical power projects.

    According to the judgment, part of the funds was routed through Bureau de Change operators and converted into foreign currency.

    Mamman was also found to have made a cash payment of $655,700, equivalent to about ₦200 million, for a property in Abuja without using a financial institution.

    Projects affected by fraud

    The diverted funds were linked to the Mambilla and Zungeru Hydroelectric Power Plant projects.

    Justice Omotosho said the defendant breached public trust and failed to prioritise national development.

    He noted that instead of leaving a legacy in the power sector, the former minister “was living large at the expense of ordinary citizens.”

    Absence stalls sentencing

    Mamman was not present in court when the judgment was delivered.

    The court subsequently deferred sentencing and considered an application by the EFCC for a warrant of arrest.

    His counsel told the court that the defendant’s whereabouts were unknown, claiming he was ill.

    However, the judge referenced reports suggesting Mamman had recently been active in political activities.

    EFCC details case

    The anti-graft agency had presented 17 witnesses and tendered 43 exhibits during the trial.

    Mamman was arrested in 2021, months after leaving office under former President Muhammadu Buhari.

    The EFCC accused him of conspiring with ministry officials to divert funds earmarked for major hydroelectric power projects.

  • Court Orders Interim Forfeiture of Nine Abuja Properties Linked to Timipre Sylva

    The Federal High Court in Abuja has ordered the interim forfeiture of nine properties linked to former Minister of State for Petroleum Resources, Timipre Sylva, to the Federal Government.

    Justice Obiora Egwuatu granted the order following an ex-parte application filed by the Economic and Financial Crimes Commission (EFCC).

    Court grants EFCC application

    The ruling, delivered on April 24 but sighted on Wednesday, directed that the properties be temporarily forfeited pending further proceedings.

    The court held that the assets are suspected to be proceeds of unlawful activities and should remain under government control until a final decision is reached.

    14-day window for objections

    Justice Egwuatu also ordered the publication of the interim forfeiture in national newspapers.

    He directed that any interested party must appear before the court within 14 days to show cause why the properties should not be permanently forfeited to the Federal Government.

    The matter was adjourned to May 25 for a report of compliance.

    Properties spread across Abuja

    The affected assets are located in high-value areas of Abuja, including Maitama, Wuse, Garki, Mpape and Dakibiyu.

    They include multiple blocks of flats, terrace buildings, duplexes, and a commercial property currently occupied by the National Information Technology Development Agency (NITDA).

    EFCC cites unlawful proceeds

    The anti-graft agency filed the suit marked FHC/ABJ/CS/607/2026 under provisions of the Advance Fee Fraud and Other Related Offences Act, 2006.

    EFCC counsel, Oluwaleke Atolagbe, told the court that the properties are reasonably suspected to have been acquired through unlawful means.

  • Court Remands Ex-Skye Bank Chairman Tunde Ayeni Over Alleged N8bn Fraud

    A High Court of the Federal Capital Territory sitting in Apo has remanded former Skye Bank chairman, Tunde Ayeni, in prison custody over an alleged N8 billion fraud case filed by the Economic and Financial Crimes Commission.

    The court ordered his remand on Monday after he was arraigned on a 17-count charge bordering on money laundering.

    Court orders remand after arraignment

    Trial judge Jude Onwuegbuzie gave the order after Ayeni pleaded not guilty to all charges brought against him.

    Following the plea, EFCC counsel, Ekele Iheanacho, asked the court to fix a date for trial and requested that the defendant be remanded in custody pending proceedings.

    The court granted the request, ordering Ayeni to be held in prison custody.

    Defence pushes for bail hearing

    Counsel to the defendant, Ahmed Raji (SAN), informed the court that a bail application had already been filed and served on the prosecution.

    He appealed for a short adjournment to allow the court hear the bail application, adding that the defence only received the charge sheet on April 23, 2026, during a public holiday.

    Raji also urged the court to release Ayeni to his legal team, assuring that he would be available for trial.

    Court fixes date for bail application

    Justice Onwuegbuzie adjourned the case to May 13 for the hearing of the bail application.

    The judge, however, declined the request for immediate release, insisting that the defendant remain in custody pending the next hearing.

    EFCC probes wider fraud allegations

    Ayeni’s arraignment follows his arrest by the EFCC in Abuja on April 24 over alleged financial crimes.

    Investigators are probing claims that he was involved in the diversion of funds estimated at N36.5 billion and $30 million, reportedly obtained from Polaris Bank through companies linked to him.

    The case adds to a growing list of high-profile financial crime prosecutions currently before Nigerian courts.

  • EFCC Probed Pastor Jerry Eze for Six Months, Found No Fraud — Olukoyede Reveals

    The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has disclosed that the agency investigated Streams of Joy International founder, Pastor Jerry Eze, for six months over suspected money laundering. He said the probe was triggered by intelligence reports linked to large foreign currency inflows.

    Olukoyede made the revelation while speaking on the commission’s investigative processes.

    Probe Triggered by Heavy Foreign Currency Inflows

    According to the EFCC boss, the investigation began after officials flagged a domiciliary account receiving multiple inflows in dollars and pounds from different countries. He said the pattern raised initial suspicion.

    “We saw an account where dollars and pounds were coming in from Colombia, America, Sri Lanka and even Togo,” he said, explaining that the volume of transactions prompted further scrutiny.

    EFCC Conducted Detailed Six-Month Investigation

    Olukoyede said the commission carried out a thorough review of financial records linked to the pastor over a six-month period. He noted that the probe was intelligence-driven and followed standard procedures.

    The EFCC, he explained, relies on petitions and data analysis to initiate such investigations.

    Pastor Invited, Cleared After Review

    He disclosed that Pastor Jerry Eze was later invited for questioning after preliminary findings were compiled. However, after reviewing the evidence and hearing his explanation, the commission found no case against him.

    “I didn’t call you here to explain. We had already done our work. I called you to commend you,” Olukoyede said.

    EFCC Warns of Ongoing Monitoring

    Despite clearing the cleric, the EFCC chairman emphasised that financial activities across sectors, including religious institutions, remain under scrutiny. He warned that some individuals have used similar platforms for fraudulent activities.

    He reiterated the commission’s commitment to monitoring suspicious transactions and enforcing financial laws.

    Case Highlights EFCC’s Intelligence-Led Approach

    The disclosure offers insight into how the anti-graft agency tracks and investigates financial flows, particularly involving foreign transactions. It also underscores the broader focus on transparency and accountability in Nigeria’s financial system.

  • EFCC Raises Alarm Over Cybercrime Surge, Says 6 in 10 Nigerian Students Involved in Fraud

    The Economic and Financial Crimes Commission (EFCC) has raised fresh concerns over the growing involvement of Nigerian university students in cybercrime, with its Chairman, Olanipekun Olukoyede, warning that the trend has reached alarming levels across campuses.

    Olukoyede said investigations by the commission suggest that as many as six out of every 10 students in Nigerian universities are engaged in internet fraud, commonly referred to as “Yahoo Yahoo”. He described the situation as deeply troubling for the country’s education system and future workforce.

    EFCC Boss Speaks at Pro-Chancellors Conference in Kano

    The EFCC chairman made the disclosure at the 8th Biennial Conference of the Committee of Pro-Chancellors of State-Owned Universities in Nigeria, held in Kano. The event focused on “Unlocking the Potentials of Artificial Intelligence: University Governance, Internationalization and Rankings”.

    He told participants that findings from recent field operations and investigations show a widening pattern of cybercrime involvement among undergraduates. According to him, many of those arrested in recent operations were still students at various institutions.

    Olukoyede said the development reflects a broader breakdown in discipline and oversight within parts of the higher education system.

    “Disturbing Situation” as Students Allegedly Compromise System

    Describing the trend as a “sad development,” the EFCC boss said some students involved in cybercrime have gone as far as compromising academic structures. He alleged that in some cases, lecturers were placed on payrolls by fraud networks operating within campuses.

    He also pointed to a major operation in Lagos where 792 suspects linked to a transnational cybercrime syndicate were arrested. According to him, a significant number of those arrested were university students.

    Olukoyede said the operation, supported by artificial intelligence tools, exposed the scale and sophistication of cybercrime networks operating within and outside Nigeria.

    Rise of “Yahoo Plus” and Deepening Concerns

    The EFCC chairman also warned about the growing trend of “Yahoo Plus,” where internet fraud is allegedly combined with fetish practices. He said the development highlights the evolving nature of cybercrime and its increasing complexity among young people.

    He urged university authorities and governing councils to take urgent action to address the situation, including tighter institutional controls and stronger collaboration with law enforcement agencies.

    Call for AI-Driven Governance in Universities

    Olukoyede called on pro-chancellors to adopt artificial intelligence-driven systems to improve transparency, accountability, and financial management in universities. He noted that many institutions still rely on manual processes, making them vulnerable to fraud.

    He listed areas where AI could be deployed, including payroll management, procurement monitoring, fraud detection, and academic integrity systems. According to him, such tools can help identify suspicious transactions and irregular payments in real time.

    “A university that lacks financial accountability cannot credibly train future professionals. The integrity of our universities is a matter of national security,” he said.

    Technology, Security and Institutional Weaknesses

    The EFCC chairman stressed that while artificial intelligence can improve governance, it must work alongside human oversight and comply with existing laws such as data protection and procurement regulations. He also called for stronger investment in digital infrastructure, including broadband and cloud systems, to support modern governance tools.

    Olukoyede added that the EFCC has already deployed AI in areas such as digital forensics and financial tracking during investigations. However, he emphasised the need for broader capacity building in cybersecurity, machine learning, and digital governance across institutions.

    Rising Cybercrime Trend Sparks Fresh National Concern

    The EFCC warning adds to growing concerns about youth involvement in cybercrime and its impact on Nigeria’s education system and global reputation. While enforcement actions continue, officials say stronger institutional reforms and technology-driven oversight may be necessary to address the scale of the challenge.

    Authorities are expected to deepen collaboration between universities, regulatory bodies, and anti-corruption agencies as pressure mounts to curb the rising trend of internet fraud among students.