News
N2.3bn Scam: Popular oil tycoon in EFCC’s nest
A popular Oil tycoon, Shehu Badamasi, has been apprehended by the operatives of the Economic and Financial Crimes Commission (EFCC) over various financial offences.
Badamasi is reported to have duped a Lagos-based businessman of N2.3bn.
Those who reported Badamasi to the EFCC, said they did that because of the no-nonsense attitude of the EFCC Chairman, Ibrahim Magu.
ALSO SEE: EFCC accuses blogger of cyber-stalking Magu, releases suspect on bail
A source said that the EFCC was aware that the suspect is well connected within the security agencies and the corridors of power, adding that the agency will ensure Badamasi faces the full wrath of the law.
“Yes, he has been with us and we are talking to him on all the issues in the petition written by a Lagos-based businessman, who claimed he was defrauded of N2.3 billion and another who lost N100 million to the same suspect,” a source in EFCC has revealed to the Vanguard.
It was learnt that the EFCC had secured a warrant to keep the suspect for 17 days to enable the operatives question him extensively on all the issues raised against him by aggrieved persons.
-
Business5 days agoNigeria: Whither the fruits of 2026 crude oil windfall?
-
Latest5 days agoMakinde declares 2027 presidential bid under PDP–APM alliance
-
Comments and Issues6 days agoPolitical Parties Primaries: Consensus or Coronation?
-
Business4 days agoTrump-Xi summit sparks fresh questions for Nigeria’s economy, tech sector
-
Comments and Issues5 days agoDoes it matter to Africa if Nigel Farage comes to Number 10?
-
Comments and Issues6 days agoIs France Real or Playing Ping Pong With Africa?
-
Business3 days agoNigeria’s foreign debt climbs 22% to $51.86bn under Tinubu administration
-
Comments and Issues5 days agoThe “Onuku” Called Kenneth Okonkwo