EFCC ARRAIGNS ONE FOR N700M FRAUD IN LAGOS . (PHOTO).#PRESS RELEASE

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 EFCC Arraigns One for  N700m Fraud in Lagos  The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, on Friday, September 4, 2026, arraigned Osaretin Osagiede before Justice Olukayode Ogunjobi of the Lagos State High Court sitting in Ikeja,  over an alleged N700 million fraud. Osagiede is standing trial on a three-count charge bordering on unauthorised access to computer material and receiving stolen property to the tune of N700 million.  Count one reads: “That you Osaretin Osagiede and Zacharia Lorshe (at large), between March, 2025 and January 2026, in Lagos, within the jurisdiction of this Honourable Court, intentionally caused the Ravenpay user accounts' two-factor authentication (2FA) method to be bypassed, with the intent to secure unauthorised access to the bank's data and committed an offence contrary to Section 387 of the Criminal Law of Lagos State 2011. Another counts reads: “That you Osaretin Osagiede and Zacharia Lorshe...
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EFCC ARRESTS THREE FOR SUSPECTED NAIRA MUTILATION IN MAIDUGURI . (PHOTO). #PRESS RELEASE.

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 EFCC Arrests Three for Suspected Naira Mutilation in Maiduguri 


 


The Maiduguri Zonal Directorate of the Economic and Financial Crimes Commission, EFCC,  have arrested three individuals over alleged Naira mutilation.


 


The suspects are: Adam Muhammad, Muhammad Muhammad and Bashir Musa.


 


Adam, Muhammad and Musa were arrested following a viral video circulated on social media platforms where they were seen cleaning mucus from their nose using N500 Naira note.


 


Following the release of the video, the Commission traced the trio and arrested them in the Maiduguri metropolis area.


 


The suspects are currently under investigation at the Maiduguri detention facility while investigation is ongoing.


 


The suspects will be charged to court upon conclusion of investigations.

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