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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NIGERIA SEEKS TIMELINE FOR AU AUDIT IMPLEMENTATION; WARNS AGAINST EXPANSION WITHOUT ACCOUNTABILITY. (PHOTO).

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 Nigeria Seeks Timeline For AU Audit Implementation; Warns Against Expansion Without Accountability


Nigeria has taken a firm stance at the African Union Executive Council in Addis Ababa, calling for stricter accountability and urgent institutional reform.


Nigeria's Foreign Affairs Minister Yusuf Tuggar made the recommendation while speaking on the report of the Permanent Representatives' Committee at the 48th Ordinary Session of the Executive Council of the African Union in Addis Ababa. 


Yusuf Tuggar, in a statement expressed concern over discrepancies in financial records and violations of procurement rules across AU organs. 


Yusuf Tuggar warned that increasing staff without improving measurable output only weakens efficiency.


Tuggar pushed for a clear timeline to implement all outstanding audit recommendations without exception.


On the humanitarian front, he called for greater attention to internally displaced persons in the Sahel and Lake Chad regions.


The Minister also cautioned against third-country migration deals that externalize processing, warning such agreements risk undermining the African Charter on Human Rights.


Nigeria reaffirmed its commitment to a stronger, more accountable African Union, and backed coordinated continental partnerships with India and Türkiye under the Banjul Formula.

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