Senate summons Zainab Ahmed, Emefiele, others over rising financial crimes

Senate summons Zainab Ahmed, Emefiele, others over rising financial crimes

- The Ministry of Finance, CBN and the EFCC have been summoned to appear before the Senate for briefing

- The Senate has raised concerns over the alarming rate of financial crimes, especially tax evasion in the country

- This trend is drastically affecting the nation's revenue and as such, its economic strength

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The Senate has expressed deep concern over issues bordering on anti-graft, national finance, financial crimes, banking, insurance and other money-related institutions.

In a bid to avert more tax evasion and thus stop revenue loss, the top legislative body has summoned the Ministry of Finance and the Central Bank of Nigeria (CBN) to appear before it for briefing, Premium Times reports.

Other organisations whose representatives are to submit reports in the red chamber are the Economic and Financial Crimes Commission (EFCC) and the and Independent Corrupt Practices Commission (ICPC).

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Senate summons Zainab Ahmed, Emefiele, others over rising financial crimes

Finance minister and the CBN governor
Source: UGC

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Others invited are the Nigerian Export-Import Bank (NEXIM); Nigerian National Petroleum Corporation (NNPC).

Meanwhile, reported that the Port Harcourt zonal office of the Economic and Financial Crimes Commission on Tuesday, June 30, arraigned one Onwuzuruike Ikenna Kingsley over alleged internet fraud.

Kingsley also known as Jeff Sikora paraded himself a self-styled president/ chief executive officer of United States-based Prime Trust Credit Union Bank.

The anti-graft agency arraigned him at the Federal High Court sitting in Port Harcourt, Rivers state on an eight-count charge bordering on conspiracy, impersonation, forgery, etc, to the tune of eight million, five hundred and two thousand dollars ($8,502,000.00), about N3,285,257,820 (N3.2bn).

The offence, according to the commission, contravenes Section 1 (1) (a) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under Section 1 (3) of the same Act.

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Also, the EFCC has disclosed that six internet fraudsters also known as Yahoo Boys had been sentenced to various prison terms by Nigerian courts.

Five of the convicts were jailed for fraudulent impersonation by Justice Patricia Ajoku of the Federal High Court, Ibadan.

According to the EFCC, among them, Olawale Ayorinde Abdulaliyu was sentenced to three months imprisonment; Josiah Olafuyi to four months, Abdul-Salam Abubakar and Blessing Opeyemi Omoyajowo got six months each, while, Bolaji John Alegbe was sentenced to seven months jail term.

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Source: Legit

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