UPDATED: EFCC reveals new investment, air ticket discount scams, traces N18bn proceeds

UPDATED: EFCC reveals new investment, air ticket discount scams, traces N18bn proceeds

EFCC disclosed that over N18 billion had been fraudulently taken from victims by nine companies offering diverse investment arrangements.

EFCC Accuses Banks of Aiding N18.7bn Investment, Airline Discount Scams

By Modupe Gbadeyanka One new generation bank and six financial technology (fintech) and microfinance banks have been accused of aiding fraudsters in defrauding Nigerians through fraudulent schemes. This allegation was made by the Economic and Financial Crimes Commission (EFCC) while addressing the media in Abuja on Thursday. The Director of Public Affairs of the EFCC, […]

EFCC indicts 9 fintech and investment firms in ₦18bn scam

EFCC links 9 fintech and investment-related companies to a ₦18 billion investment scam Over 200,000 Nigerians are reportedly affected Three local accomplices arrested; foreign masterminds remain at large Some banks and fintechs allegedly allowed fraudsters to move funds without proper checks, including crypto transactions The Economic and Financial Crimes Commission (EFCC) has indicted nine fintech and investment-related companies in connection …

EFCC Probes Banks, Fintechs Over N18.7bn Investment, Airline Fraud

By Daniel Adaji The Economic and Financial Crimes Commission (EFCC) has launched a probe into the role of banks and fintech companies in two large-scale fraudulent schemes that drained N18.739 billion from thousands of Nigerians, raising fresh concerns about weak oversight within the country’s financial system. The Commission raised the alarm in Abuja on Thursday, accusing one new-generation bank and six fintech and microfinance banks of neglige…

EFCC tackles banks in N18.7 billion fraudulent investment, airline discount schemes

Economic and Financial Crimes Commission (EFCC)  has raised the alarm about negligence and compromise of banks and Fintechs in two major fraudulent schemes that have cost victims a total sum of N18, 739, 999, 027.35k( Eighteen Billion, Seven Hundred and Thirty Nine Million,  Nine Hundred and Ninety Nine Thousand,  Twenty The post EFCC tackles banks in N18.7 billion fraudulent investment, airline discount schemes  appeared first on National Accor…

EFCC Tackles Banks, Fintechs Over Nigerians' Loss Of N18.7billion In Fraudulent Investments

The Economic and Financial Crimes Commission (EFCC) has raised the alarm over negligence and compromise by some banks and financial technology companies in two large-scale fraudulent schemes that have cost Nigerians a total of N18,739,999,027.35.