fraud

Louisa Olaniyi Business Network > Blog > fraud

April 16, 2025
Admin User
finance, EFCC, fraud, Investment, Ponzi Scheme

CryptoBank Exchange (CBEX): The Rise, Collapse, and Consequences of Nigeria’s Latest Ponzi Scheme

In April 2025, Nigeria was shaken by the collapse of another large-scale financial scam—CryptoBank Exchange (CBEX)—an online investment platform that allegedly defrauded thousands of investors of approximately ₦1.3 trillion or...

April 8, 2025
Admin User
Financial crime, CRIME, EFCC, fraud

EFCC Arrests Internet Fraudster for Buying Bank Account Details to Defraud Victims of Millions

Operatives of the Economic and Financial Crimes Commission have arrested one Olawole Sunday, a suspected internet fraudster, accused of purchasing bank account details from individuals to perpetrate financial crimes....

Lagos Police Debunk False Report on Boko Haram Arrests, Assure Public of Safety

March 21, 2025
Admin User
CRIME, fraud

Bank Staff, Others Arrested Over Alleged N277.8 Million Fraud

Authorities have apprehended four suspects in connection with a case of conspiracy and theft involving the sum of £138,924 (equivalent to N277,848,000). The suspects include Shuaib Oluwatobiloba Olaleye (27),...

May 7, 2024
louisa_7x6y2m
fraud

EFCC grills six senior NSCDC officers over N6bn fraud

The Economic and Financial Crimes Commission has arrested six senior officers of the Nigeria Security and Civil Defence Corps over alleged N6bn fraud. The senior officers are currently being...

February 4, 2024
louisa_7x6y2m
fraud

EFCC RECOVERS N30BN FROM HUMANITARIAN MINISTRY’S LOOTED FUNDS

The Economic and Financial Crimes Commission has recovered over N30bn from the N37,170, 855,753.44 allegedly laundered in the Ministry of Humanitarian Affairs under the former minister, Sadiya Umar-Farouk. Sources...