COURT JAILS TWO FOR N14.8M FRAUD IN MAIDUGURI. (PHOTO). #PRESS RELEASE.

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 Court Jails Two for N14.8m Fraud in Maiduguri Justice B.T Zannah of the Borno State High Court sitting in Maiduguri, on Monday, July 13, 2026 convicted and sentenced two to three years imprisonment. The convicts are: Babagana Bukar and Hauwa Chabri.  The convicts were arraigned on Monday, July 13, 2026 by the Maiduguri Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on a separate one -count charge for the offence of criminal misappropriation to the tune of N14,800,000.00 (Fourteen  Million, Eight Hundred Thousand Naira). The charge against Bukar reads: "That you, Babagana Bukar sometimes in 2025 at Maiduguri, Borno State within the jurisdiction of this honourable court, dishonestly misappropriated and converted to your own use the aggregate sum of N8,800,000.00 (Eight Million, Eight Hundred Thousand Naira)  money belonging to Bunu Gambo Liman, being amount given to you through Babakura Umar and Bello Adamu for the supplies of 100 bags of IRS...
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NIGERIA COMPLETES 30% ACTION PLAN TO EXIT FATF GREY LIST. (PHOTO).

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 Nigeria completes 30% action plan to exit FATF grey list


Nigeria has moved closer to exiting the Financial Action Task Force’s (FATF) grey list.

This connotes that Nigeria has increased monitoring of identified deficiencies in combating money laundering, terrorist financing, and proliferation financing.

According to a statement released by the Nigerian Financial Intelligence Unit (NFIU), “Nigeria has completed 30% of the Action Plan developed as part of the greylisting process.”

This progress report was well-received by the FATF, resulting in the approval of Nigeria’s third Progress Report at the June 2024 FATF Plenary meeting in Singapore.

The FATF further acknowledged Nigeria’s efforts by granting two upgrades in this round. These positive developments suggest Nigeria is on track to exit the grey list in early 2025, as initially targeted.

The statement noted that the NFIU Chief Executive Officer, Ms. Hafsat Abubakar Bakari, participated in the plenary meeting. 

As the current Chair of the Technical Commission of the Intergovernmental Action Group Against Money Laundering in West Africa (GIABA), Ms. Bakari reaffirmed Nigeria’s commitment to fully implementing the Action Plan.  She also provided updates on GIABA’s progress in strengthening its technical capacity to combat financial crimes.

The FATF grey list serves as a monitoring mechanism for countries with strategic deficiencies in their Anti-Money Laundering/Counter-Financing of Terrorism (AML/CFT) regimes.  Inclusion on this list prompts countries to address these deficiencies within a specified timeframe.

The presence of high-level representatives from Nigeria, including the heads of the Economic and Financial Crimes Commission (EFCC) and the Special Control Unit against Money Laundering (SCUML), underlines the government’s commitment to tackling financial crimes and achieving a more robust AML/CFT framework.

Nigeria’s progress report approval and positive feedback from the FATF are encouraging signs.  Continued implementation of the Action Plan is crucial for exiting the grey list by early 2025.  This will demonstrate Nigeria’s dedication to financial transparency and a more secure financial system.

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