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Corruption in Nigeria is a constant phenomenon. In 2012, Nigeria was estimated to have lost over $400 billion to corruption since its independence. [2] [3] Nigerian politicians find themselves in a strong position of power and wealth due to their connections with the oil and gas industries in Nigeria.
The EFCC was established in 2003, partially in response to pressure from the Financial Action Task Force on Money Laundering (FATF), [2] which named Nigeria as one of 23 countries non-cooperative in the international community's efforts to fight money laundering. [1] The agency has its head office in Abuja, Nigeria. The EFCC was also set up to ...
He noted that some of them were already being prosecuted for money laundering, and said the ICPC was scrutinising the file to see whether there are cases they could pursue. [ 23 ] In August 2009 the ICPC started investigations into an alleged N90 billion fraud leveled against managers of Pension Fund for retirees in the health sector. [ 24 ]
ABUJA (Reuters) -A Nigerian court on Wednesday ordered the release of Binance executive Tigran Gambaryan after the government dropped money laundering charges against him to allow him to get ...
Sambo Dasuki, the National Security Adviser who allegedly masterminded the $2 billion arms deal. The $2 billion arms deal, or Dasukigate, [1] is an arms procurement deal in Nigeria that resulted in the embezzlement of $2 billion through the office of the National Security Adviser under the leadership of Colonel Sambo Dasuki, the former National Security Adviser. [2]
The court ruled that the government should disclose the "exact amount of money stolen by General Sani Abacha from Nigeria and the total amount of Abacha loot recovered and all agreements signed on ...
It was reported that within the first two months of the Whistle-blowing policy in Nigeria, that Nigeria's Federal Government recovered over $178 million that was stolen from the government. By June 5, 2017, the Federal Ministry of Finance received a total of 2,150 tips from the public. 128 tips came through the website of the ministry, 1,192 ...
The activities that constitute illegal corruption differ depending on the country or jurisdiction. For instance, some political funding practices that are legal in one place may be illegal in another. In some cases, government officials have broad or ill-defined powers, which make it difficult to distinguish between legal and illegal actions.