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However, the Nigerian government is also investigating claims that Innoson Motors is guilty of fraud. [1] Innoson Motors began its case against GT Bank in 2011. Recently, the Nigerian Supreme Court ruled in favor of Innoson Motors claim against GT Bank, and the company says that it is due to take over GT Bank in lieu of receiving its money. [2]
At the request of former Nigerian President Olusegun Obasanjo, the Economic and Financial Crimes Commission was created by the Nigerian Parliament in 2002. [13] In February 2004, Amaka Anajemba, Emmanuel Nwude, Emmanuel Ofolue, Nzeribe Okoli, and Obum Osakwe (Christian Anajemba was deceased at this point), were all arrested and charged in the Abuja High Court with 86 counts of "fraudulently ...
Scattered Canary is a Nigerian fraud ring. During the COVID-19 lockdowns in 2020, the group used business email compromise and, according to the United States Secret Service, "hundreds if not thousands" of money mules to defraud U.S. state unemployment agencies. [1]
One of the two executives from Binance, the world's largest cryptocurrency exchange, detained in Nigeria appeared in an Abuja court on Thursday to face tax evasion and money laundering charges.
He is facing a 20-count fraud charge. "There must be an end to detention without trial. Without any further ado, I hereby order that the applicants be released on bail to his counsel," the judge said.
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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.
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