EFCC ARRAIGNS MAN FOR ALLEGED ₦55M FRAUD IN LAGOS. (PHOTO). #PRESS RELEASE.

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 EFCC Arraigns Man  for  Alleged ₦55m Fraud in Lagos The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, on Wednesday, December 3, 2025 arraigned one Gabriel Celestine Nwawuzor, before Justice Daniel Osiagor of the Federal High Court in Ikoyi, Lagos for ₦55m fraud. Nwawuzor was arraigned alongside Moonlink Pharmaceuticals Limited, on a 3-count charge bordering on fraud and money laundering to the tune of N55,000,000 (Fifty Five Million Naira) One of the counts reads: "That you Gabriel Celestine Nwawuzor and Moonlink Pharmaceuticals Limited sometime in April, 2021, in Lagos, within the jurisdiction of this Honorable Court procured the account number 2170235882 domiciled in Zenith Bank to retain the sum of N55, 000, 000.00 ( Fifty Five Million Naira) which sum you knew forms part of the proceeds of your unlawful act and you thereby committed an offence contrary to Sections 21(a), 18(2)(d) of the of Money Laundering (Prevention and Prohibitio...
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SENATE GIVES EXECUTIVE TWO WEEKS TO PRESENT BUDGET PERFORMANCE REPORT. (PHOTO).

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 Senate gives executive two weeks to present budget performance report


The Senate has issued a two-week ultimatum to the executive to submit a comprehensive, documented progress report on the implementation of the 2024 budget, as well as projections for the 2025 budget, before it will entertain the Medium-Term Expenditure Framework (MTEF).


Chairman of the Senate Committee on Finance, Sen. Sani Musa, gave the declaration during a meeting with President Bola Tinubu’s economic team, led by Minister of finance and Coordinating Minister of the economy, Wale Edun, at the National Assembly.


Senator Musa noted that the legislature requires detailed performance data to properly assess the assumptions and projections in the proposed MTEF and Fiscal Strategy Paper.


“We cannot proceed with the MTEF without first understanding how the 2024 budget has performed so far. We give you till October 23 to revert and provide a documented report before we look at the 2026 MTEF”.

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