Metro News

27-yr-old convicted yahoo boy, one other forfeit three duplexes, N200m found in accounts

Published

3 years ago

August 9, 2021

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Two convicted fraudsters, Tobilola Bakare and Alimi Sikiru have forfeited three duplexes in the Lekki axis of Lagos and N200 million cash to the Federal Government, following their prosecution by the Economic and Financial Crimes Commission.

The forfeited assets include N196, 741, 216.82 and N7, 054, 852.01 in two bank accounts; two vehicles- a Mercedes Benz E500 and a Toyota Hilux 2020 and five-bedroom duplex situated at Ibrahim Eleto Street, Osopa London, Lekki, Lagos; four- bedroom semi-detached duplex situated at Ologolo, Jakande, Lekki, Lagos and another four-bedroom semi-detached duplex in Southern View Estate, Mayor Court, Chevron Alternative Road, Lekki, Lagos.

The two vehicles are valued at N30m while the three duplexes are valued at N230m.

The EFCC spokesman, Wilson Uwujaren, explained in a statement on Monday, that the fraudsters gave up the assets as they could not give satisfactory explanation of the funds and properties linked to them.

“They confessed to involvement in cybercrime. Bakare, 27, an indigene of Ijebu Ode, Ogun State claimed his forte is Business Email Compromise, and that he had hacked into different companies outside the shores of Nigeria,” said the statement titled, ‘Fraudsters lose properties in posh areas of Lagos to FG.’

READ EFCC arraigns man for depositing fake €482,000 in bank

It said the scammers had been successful in their ignoble trade, earning a cumulative sum of $1m from victims, including three foreign airlines through Business Email Compromise fraud.

They laundered the proceeds of crime in acquiring real estate and luxury vehicles.

Uwujaren said, “Life was good but their comeuppance began in September 2020, when operatives of the Commission, in the course of investigating a case of suspicious transactions and money laundering involving one Kehinde Adelakun, a convicted internet fraudster, stumbled on evidence linking Alvine International Resources Ventures, owned by the second defendant, Sikiru.

“The transaction that sets off the alarm bell was an inflow of N5million in two tranches from Alvine International Resources Ventures.”

According to the commission, further probe by the investigators revealed several inflows suspected to be proceeds of unlawful activities in both the Sterling Bank and Polaris accounts of the second defendant.

It added, “The balance in both accounts: N196, 741,216.82 in Sterling Bank and N7, 054,852.01 in Polaris Bank, were swiftly placed on a Post No Debit, to forestall dissipation of the funds pending the conclusion of investigation and determination of the case.

READ Court fixes date for Emefiele’s trial over alleged illegal possession of firearms

“The second defendant, in his statement to the Commission, admitted that most of the funds found in his account were from the first defendant, Bakare, who confessed to being into Business Email Compromise, between 2009 and 2020 and also hacking into the accounts of KLM, Turkish Airlines and British Airways.”

The fraudster were subsequently arraigned before Justice O. A Taiwo of the Lagos State High Court, Ikeja on five-count amended charge bordering on conspiracy and retaining stolen property, an offence contrary to sections 411 and 328 of the Criminal Law of Lagos State.

The two men pleaded guilty to the charges.

Delivering judgment, Justice Taiwo noted that the action of the defendants was “responsible for giving Nigeria a bad image globally, whereby the average Nigerian is looked upon as being untrustworthy and fraudulent”.

She convicted and sentenced Bakare to three years imprisonment on counts 1, 2, 3, 4 and 5, with an option of N3m fine.

READ Tragic: Nine, including children killed as 20ft container falls on commercial bus at Ojuelegba bridge

The Judge also convicted and sentenced Sikiru, to three years imprisonment on counts 1 and 5 with an option of N1m fine.

She then ordered the forfeiture of their property and vehicle

Metro News

Fubara visits scene of tanker explosions, promises support for families of victims

Published

47 mins ago

April 27, 2024

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Siminalayi Fubara, governor of Rivers, says the state government will support he families of victims affected by the multiple tanker explosion.

Fubara spoke on Saturday when he visited the scene of the accident alongside Olatunji Disu, commissioner for police in Rivers, and Maximus Nwafor, commissioner for energy.

On Friday night, tankers laden with petroleum products burst into flames on a section of the East-West road in Eleme, Rivers state, leaving an unspecified number of people killed.

The inferno which had also left travellers stranded for hours, engulfed over 50 vehicles, with some bodies found burnt beyond recognition in cars and in a nearby drainage.

The governor directed security agencies to conduct a thorough assessment of the accident to facilitate the provision of aid to families of victims.

“Yesterday around 7-8pm, we got information about a very serious inferno that was caused by a tanker conveying PMS,” he said.

“I got the information through the MD of Indorama and immediately alerted the security agencies. From what we are seeing this morning, it was not a very pleasant case.

“We recorded, from what I am seeing, a huge number of vehicles being destroyed and souls lost.

READ EFCC arraigns man for depositing fake €482,000 in bank

“I have already asked the security agencies to give us a full brief. So that we can come into the situation fully by seeing how much we can support the families of the bereaved and see how we can cushion the effect of the losses.”

The governor also lamented the deteriorating condition of the Eleme section of the East-West road.

“We all know the situation of this road; it is unfortunate. Most of our people when plying this road do so with caution,” he added.

Metro News

Many feared dead in multiple petrol tanker explosions in Rivers

Published

4 hours ago

April 27, 2024

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An unspecified number of people have been killed after tankers laden with petroleum products burst into flames on a section of the east-west road in Eleme, Rivers state.

The incident, which left travellers stranded for hours, occurred on Friday night.

Some of the victims of the multiple explosions were said to have been trapped in their vehicles as the blasts raged.

The cause of the explosions are not clear at the time of reporting. However, eyewitnesses have pointed to “dangerous driving and negligence”.

The Nation quoted Segun Owolabi, an eyewitness, as saying that one tanker collided with a vehicle before bursting into flames, leading to a domino effect.

“I saw four dead bodies burnt. Some may have been in the bushes because many ran away. I saw a whole stretch of vehicles burnt down, trailers burnt down,” Owolabi said.

“There seems to be a truck carrying substances and it was as if it had collided with another vehicle that may have ignited the fire. Over 20 vehicles burnt down and several people trapped.

READ Uzor Kalu drags EFCC to court over freezed N7.1bn family bank account

“There may be more bodies. Oh my God this is a tragedy. A stretch of vehicles burnt.”

Another eyewitness said he heard a loud explosion from a petrochemical complex in the area.

“I heard a very loud sound about 20 minutes ago, and people were shouting,” he said.

“The sound came from the petrochemical company area. So when I came out I saw thick smoke with fire from a distance.”

The inferno reportedly raged for hours before it was put out by firefighters.

Metro News

EFCC arrests 34 suspected currency speculators for ‘FX fraud’

Published

5 hours ago

April 27, 2024

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The Economic and Financial Crimes Commission (EFCC) says 34 suspected currency speculators have been arrested for foreign exchange (FX) fraud.

The EFCC, in a statement on Friday, said the arrest was carried out by its operatives attached to its task force on currency mutilation, dollarisation of the economy, and FX malpractice.

The anti-graft agency said the suspects were arrested in Wuse Zone 4, Abuja, on April 26, in a sting operation following credible intelligence about illegal sales of dollars.

“Operatives of the Economic and Financial Crimes Commission, EFCC, attached to the Taskforce on Currency mutilation, Dollarization of the Economy and Forex Malpractice, have arrested 34 suspected currency speculators for alleged foreign exchange fraud,” the EFCC said.

“The suspects are: Usman Mohammed, Abdullahi Nasir, Abubakar Saleh, Mohammed Kabir Ibrahim, Abubakar Ghadafi, Muktar Usman, Umar Abubakar Abba, Yakubu Sani, Aminu Abubakar, Muhammed Suleman Abara, Yusuf Tahir, Usman Lawal, Usman Lawal.”

READ Uzor Kalu drags EFCC to court over freezed N7.1bn family bank account

The agency also arrested Usman Umar, Amina Garba Rola, Muhammed Aliyu, Murtala Haruna, Sani Mohammed, Umar Farouk, Muhammed Sagiuru, Aminu Salisu, Lawal Bello, and Munzali Hashim.

Other include: Jamilu Suleiman, Mustapha Umar, Mubarak Tanimu, Adamu Garba, Mohammed Usman, Bello Musa, Saleh Mohammed Naseer, Zaharadeen Yau, Musa Umaru Adamu, Usman Machido, and Abdulaziz Abubakar Abba.

The EFCC said the arrest occurred following its ongoing efforts to clean up and stabilise the FX market, adding that the suspects will soon be arraigned in court upon conclusion of investigations.

On February 24, the Central Bank of Nigeria (CBN) and the office of the national security adviser (ONSA) sealed a partnership to investigate and penalise those involved in illicit activities within the foreign exchange market.

The decision was on the backdrop of the unending depreciation of the naira and its accompanying negative impact on inflation and economic instability.

Following the partnership, which also involved the EFCC, the commission froze over 300 accounts linked to illicit FX trading.

READ EFCC set to arraign pastor nabbed for alleged N1.3bn fraud

The EFCC had, on January 24, launched a probe on 52 companies over forex transactions.