ALLEGED N8.7B FRAUD: MALAMI’S BANKERS FILED SUSPICIOUS REPORTS ON HIS TRANSACTIONS-WITNESS. (PHOTO). #PRESS RELEASE.

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Alleged N8.7b Fraud: Malami’s Bankers Filed Suspicious Reports on his Transactions-Witness The Fourth Prosecution Witness, PW4, in the trial of the former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, on Wednesday, May 13, 2026, told Justice Joyce Abdulmalik of the Federal High Court, Maitama, Abuja, that Zenith Bank Plc, where the former AGF had account, filed Suspicious Transaction Report, STR, in respect of his transactions. The Economic and Financial Crimes Commission, EFCC, is prosecuting Malami alongside his wife, Hajia Bashir Asabe, and his son, Abubakar Abdulaziz Malami, on amended 16-count charge, bordering on conspiracy, procuring, disguising, concealing and laundering proceeds of unlawful activities to the tune of N8,713,923,759.49 (Eight Billion, Seven Hundred and Thirteen Million, Nine Hundred and Twenty-Three Thousand, Seven Hundred and Fifty-Nine Naira, Forty-Nine Kobo), contrary to the provisions of the Money Laundering (Prevention and Pro...
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META CUTS 600 EMPLOYEES FROM AI DIVISION. (PHOTO).

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 Meta cuts 600 employees from AI division

Meta is set to lay off approximately 600 employees within its artificial intelligence division as part of efforts to streamline operations and operate more efficiently. The reduction was outlined in a memo from Chief AI Officer Alexandr Wang, who joined the company in June amid Meta’s $14.3 billion investment in Scale AI. The layoffs will affect staff across AI infrastructure units, the Fundamental Artificial Intelligence Research division, and other product-related roles.

The move comes as Meta continues heavy investments in AI to compete with rivals such as OpenAI and Google, committing billions to infrastructure and talent acquisition. Recently, the company announced a $27 billion partnership with Blue Owl Capital to fund its Hyperion data center in rural Louisiana, a project CEO Mark Zuckerberg described as covering a footprint comparable to a large portion of Manhattan.


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