Page 11 - Special Control Unit News Today : Breaking News, Live Updates & Top Stories | Vimarsana

•Asks NGOs, CSOs to respect financial transaction rules The Economic and Financial Crimes Commission (EFCC) has warned Nigerians against what it described as any investment that promises returns that looks too good to be true. “Though risk-taking is considered by some as the oxygen that drives investment decisions, the commission warns the public against taking unmitigated risk in desperation to earn a windfall. “Investment in Bitcoin, for instance, is a high risk activity as the terrain is largely unregulated, and prone to fraud,” the anti-graft agency said. EFCC spokesman, Wilson Uw...

By Adedayo Akinwale The Economic and Financial Crimes Commission (EFCC) has made compulsory membership of the Real Estate Developers Association (REDAN) for all real estate players as part of effort to check fraudulent activities in the housing sector. The Director of Special Control Unit against Money Laundering (SCUML), a unit operationally domiciled in EFCC, Mr. Brown Isei, stated this Friday in Abuja at the unveiling of REDAN seals to distinguish its members from fraudsters. Isei, who was represented by Mr. Enu Mathew said the new requirements would allow easy prosecution, conviction and ...

P&ID Director Docked For Flouting SCUML Regulations P&ID Director Docked For Flouting SCUML Regulations The Economic and Financial Crimes Commission, Abuja zone on Monday, arraigned a Commercial Director of the Process and Industrial Development, (P&ID) Limited, Mohammed Kuchazi before Justice F.O. Giwa, of the Federal High Court, Abuja. Kuchazi and his company Kore Holdings Limited are being prosecuted on an eight-count charge bothering on failure to comply with the regulations of the Special Control Unit against Money Laundering, SCUML, as stipulated by the Money Laundering Prohibition Act....

Share The Economic and Financial Crimes Commission (EFCC) on Monday arraigned a Commercial Director of the Process and Industrial Development (P&ID) Limited, Mohammed Kuchazi before a Federal High Court in Abuja for allegedly flouting regulations of the Special Control Unit against Money Laundering (SCUML). Kuchazi and his company, Kore Holdings Limited are were arraigned on an eight-count charge bothering on failure to comply with SCUML regulations as stipulated by the Money Laundering Prohibition Act. Count one of the charges reads: “That you Kore Holdings Limited, being a Designated Non-...

EFCC arraigns P&ID Director over money laundering P&ID, a British Virgin Island firm, had obtained an $8.9billion judgment from a U.K court against Nigeria over a failed gas processing contract that the Federal Government described as fraudulent. The Economic and Financial Crimes Commission (EFCC), on Monday, arraigned a Commercial Director of the Process and Industrial Development (P&ID) Limited, Mohammed Kuchazi, for money laundering, among other offences. A statement by the EFCC said Mr Kuchazi was arraigned alongside his company, Kore Holdings Limited, before Folashade Ogunbanjo-Giwa of ...