National WAVES Newspaper

05/09/2025

Billionaire Real Estate tycoon declared wanted by EFCC

The Economic and Financial Crimes Commission (EFCC) has declared Olasijibomi Ogundele, a businessman and real estate tycoon and Chief Executive Officer of Sujimoto Luxury Construction Limited, wanted for alleged diversion of funds and money laundering.

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04/09/2025

EFCC Arrests Gavice Logistics CEO, Ahamba Tochukwu, For 'N2bn Ponzi Scheme Fraud'

The Chief Executive Officer of Gavice Logistics Limited, Ahamba Tochukwu, has been arrested by the operatives of the Economic and Financial Crimes Commission (EFCC),
for allegedly defrauding several investors in his logistics investment schemes to the tune of N2,000,000,000( Two billion Naira only).

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30/08/2025

When music star, Folarin Falana, popularly known as Falz posted his pre- wedding photos, the face of his his bride to be was not unveiled but NATIONAL WAVES can tell you for free that Falz wife to be is beautiful and very reserved Nnaemeka Stephanie Amagimonyeobu. She was born on June 3, 1996, in Anambra State, Nigeria and grew up in Nnewi, a town known for strong family businesses and industrious communities.

Investigations revealed that Stephanie's family is a well-established, supportive, and moved her to the United Kingdom at an early age so she could continue her education. That move shaped much of her background: she blends the cultural roots of Anambra with years of schooling and life in the U.K. She is 29 years old.

Stephanie studied accounting at the University of Oxford and later completed an MSc in Business and Public Relations. Those qualifications point to a professional profile grounded in finance, strategic communications and corporate relations.

Publicly available facts do not list a single employer or corporate title, but her academic background suggests she is equipped for roles in corporate finance, consulting, public affairs or brand management.

Although Falz did not mention the name of his bride in his post while sharing the pre-wedding pictures, a careful image brightening led to her identification.

The couple had been linked privately for about three years before the public disclosure.
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https://www.nationalwaves-ng.com/unveiling-falzs-bride-stephanie-amagimonyeobu/

28/08/2025

The sacked Business Manager of First Bank of Nigeria, Abdulwahab Sani Shehu,
who allegedly diverted and squandered the sum of N10.5million fixed deposit belonging to 72-year-old Osun resident Sule Fabiyi, has gone into hiding.

This is just as the Central Bank of Nigeria (CBN), absolved the financial institution of any wrongdoing.

CBN in a recommendation it recently gave on a fraud-related N10.5 million dispute involving 72-year-old Osun resident Sule Fabiyi and First Bank of Nigeria, has absolved the financial institution of any blame.

Contrary to the CBN’s recommendation, emerging documents show that First Bank was alerted to the fraudulent N10.5 million transaction in July. Yet, the bank did nothing to help Fabiyi recover his money or apprehend the fraudsters who operated from the bank.

Fabiyi told FIJ that he received the CBN’s recommendation on Monday. His lawyer had been invited to collect a hardcopy of the document from the bank.

“I received the recommendation from CBN on Monday and found it very shocking and unbelievable,” said Fabiyi.

“Just like First Bank had initially claimed, the CBN also claimed that I had a personal business relationship with Abdulwahab Sani Shehu. How is that even possible?

“You know the worst part? It was not stated how and when I would get my N10.5 million back from First Bank.

“The business banker exploited the fact that I am an elderly person who knows nothing about how they perpetrate their shady deals in the banking sector and now my N10.5 million has disappeared.

“A lawyer within First Bank had first falsely claimed I had a personal business relationship with Abdulwahab Sani Shehu, and now, the CBN is making the same claim?

“How am I even sure that the investigation was thoroughly carried out, and that the shocking outcome was arrived at without any inducement and bias?

“Now, the business banker is nowhere to be found and my N10.5 million has disappeared.

“I am not going to relent on this matter. First Bank must cough out my N10.5 million.”

The CBN’s conclusion reads in part:

The investigation revealed a personal business relationship between the complainant (Fabiyi) and the former business manager (Shehu).

When the business deal went bad, the complainant turned to the bank to recover lost funds. The bank is not liable for the loss incurred by the complainant.

The former business manager acted beyond the scope of his official duties to perpetrate this fraudulent activity against the complainant.
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https://www.nationalwaves-ng.com/first-bank-ex-staff-who-stole-72-years-old-customers-n10-5m-goes-into-hiding-as-cbn-exonerates-bank/

26/08/2025

Miden Systems Limited has instituted legal action against Sterling Bank Limited, its Chief Executive Officer, Sterling Financial Holdings Company Plc, and four management staff over alleged conspiracy, fraud, forgery, criminal breach of trust, and misappropriation of funds.

The engineering, maritime, and consultancy firm, which operates a corporate account with the bank, filed the case before Magistrate Njideka Duru of the Chief Magistrate’s Court in Wuse Zone II, Abuja.

The matter, listed for mention on Monday, was stalled due to the ongoing Nigerian Bar Association (NBA) conference in Enugu and adjourned until September 10.

In a 29-page petition filed through its counsel, Louis Alozie (SAN), Miden accused the defendants of operating a vast fraudulent scheme using its name to open spurious accounts, through which more than $200 million was allegedly siphoned. The company alleged that repeated requests for account statements were ignored, while liens were unilaterally placed on all its accounts, effectively cutting it off from its funds. According to the complaint, the bank withheld foreign currency remittances, speculated with them for months, and later liquidated them at heavily devalued rates.

“In one instance, our principal remitted dollar revenues when the official rate was about N150/$1 and the market rate about N198/$1. Sterling Bank stockpiled over N2 billion in our account after taking its spread. By the time they released it, the naira had collapsed to about N500/$1, rendering the original dollar value almost worthless,” the complaint read.

Miden further alleged that the bank deliberately refused to issue cheque books or grant access to internet banking platforms in order to conceal fraudulent transactions and debit entries.

The company stated that though it had cleared all its loan obligations to Sterling Bank by July 2017, the bank “booked” an unsolicited $30 million loan into its account barely three months later. According to Miden, the bank fabricated an offer letter, purported board resolutions, and forged signatures to give the appearance that the loan was duly accepted. The same day the loan was booked, Sterling’s board allegedly approved and disbursed the facility.

“On the following day, over $1 million was transferred to one ‘AA’, and two days later, more than $29 million was disbursed to the same individual. Miden never applied for this loan, never accepted it, and the signatures used were forged,” the complaint alleged.

The firm also cited another case in which Sterling Bank allegedly booked a $3 million loan to Chasewood Limited. When Chasewood denied ever applying for the facility, the bank allegedly reclassified it under Miden’s account, claiming the two firms were “sister companies.” Miden insists Chasewood is an entirely separate entity.

Miden said it was further alarmed to discover documents suggesting that the bank had purportedly secured a loan facility from Afrexim Bank using forged signatures and identities of persons unknown to its directors. It also alleged that Sterling Bank fraudulently opened additional accounts in its name using a fictitious office address at No. 10 Goba Close, Wuse II, Abuja—an address the company claims it has no link to.

Frustrated by failed attempts to resolve the issues, Miden petitioned the House of Representatives Committee on Public Petitions. The committee, after reviewing the matter, referred it to the Inspector General of Police for investigation. A police investigation report, issued in February 2025, allegedly indicted Sterling Bank and the named defendants.

With the case now before the Chief Magistrate’s Court in Abuja, hearing is set to resume on September 10.
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https://www.nationalwaves-ng.com/miden-systems-drags-sterling-bank-to-court-over-alleged-200m-fraud-forgery-identity-theft/

22/08/2025

News emanating from Abuja, the Federal Capital Territory indicate that Nigeria's anti-graft agency, the Economic and Financial Crimes Commission (EFCC) has declared Abdullahi Bashir Haske, businessman and son-in-law of former Vice President Atiku Abubakar, wanted for alleged criminal conspiracy and money laundering.

The EFCC made the declaration in a notice issued by its spokesperson, Dele Oyewale, on Thursday, August 21, 2025.

The EFCC urged members of the public to provide any information that could lead to Haske’s arrest.

“The public is hereby notified that Abdullahi Bashir Haske, whose photograph appears above, is wanted by the EFCC in an alleged case of criminal conspiracy and money laundering,” the commission announced.

The EFCC said that Haske, 38, was last traced to No. 6 Mosley Road, Ikoyi, and 952/953 Idejo Street, Victoria Island, Lagos.

The commission appealed to the public to reach out to any of its offices nationwide, including those in Ibadan, Uyo, Sokoto, Maiduguri, Benin, Makurdi, Kaduna, Ilorin, Enugu, Kano, Lagos, Gombe, Port Harcourt, and Abuja with useful information.

It stated that information could also be shared via the EFCC’s dedicated telephone line and email address.

Recall that Haske came under the anti-graft Commission’s searchlight and investigation when a whopping $21 million was reportedly traced to his account.

He was said, in sundry media reports, to have told the EFCC during preliminary investigations, that the money belonged to the Group Chief Executive Officer, GCEO, of the Nigerian National Petroleum Company Limited, NNPCL, Engineer Bashir Bayo Ojulari.
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https://www.nationalwaves-ng.com/atikus-son-in-law-declared-wanted-by-efcc-for-money-laundering/

22/08/2025

Ghanaian dancehall music star, Charles Nii Armah, popularly known as Shatta Wale, has spent his first night in the custody of the Economic and Organised Crime Office (EOCO) over a tax investigation.

The singer has also been granted bail under strict conditions.

His media manager, Samuel Atuobi Baah, also called Sammy Flex, confirmed in a video update that the artist’s legal team and management are working to meet the bail requirements for his release by Thursday, August 21, 2025.

“Before proceeding with the case, EOCO has set a bail of ten million Ghana cedis (GH₵ 10 million) with two sureties. I assure you, the dancehall king’s management and legal team are working tirelessly to resolve this,” he explained.

Flex further clarified that, contrary to reports, the case relates specifically to taxes on Shatta Wale’s Lamborghini and his business operations.

Shatta Wale was taken into custody on Wednesday, August 20, 2025, as part of EOCO’s probe into tax compliance regarding his yellow Lamborghini.

According to his team, “Mr. Mensah presented himself voluntarily at the EOCO offices this afternoon along with his lawyer Cephas Biyuo, to assist with investigations.”

NATIONAL WAVES had reported that singer’s yellow Lamborghini, was seized by the Anti-graft agency because US authorities allegedly linked it to a fraud network run by another Ghanaian, Nana Kwabena Amuah.

Amuah is currently serving a seven-year jail sentence in the US after defrauding dozens of organisations through vendor impersonation scams.

The $150,000 wonder-on-wheel is expected to be returned to the US to help compensate Amuah’s victims. Wale has denied any connection to Amuah, describing himself as a “third-party owner” and claiming he did not know who shipped the vehicle to Ghana.
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https://www.nationalwaves-ng.com/shatta-wale-spends-first-night-in-anti-graft-agencys-cell-granted-gh₵10m-bail/

22/08/2025

The Apetu of Ipetumodu, Oba Joseph Oloyede, has pleaded for leniency before a United States court after admitting his role in a $4.2 million COVID-19 relief fraud.

In a sentencing memorandum filed on Tuesday, August 19, 2025, before Judge Christopher Boyko of the Northern District of Ohio, the monarch’s legal team argued that the unprecedented disruption of the coronavirus pandemic influenced his decision to commit the offence.

“COVID-19 affected all of us differently. Conduct that we would never expect from ourselves or others sometimes manifested itself as we encountered a completely different society,” his counsel said. They maintained that while the pandemic was not an excuse, it was a major factor, particularly for the 62-year-old royal, who battled health challenges during the outbreak.

Oba Oloyede, who migrated to the United States in the late 1990s, was arrested by the Federal Bureau of Investigation (FBI) in May 2024 after vanishing from Nigeria two months earlier. His absence raised concerns in Ipetumodu, Osun State, especially after he missed major cultural festivals, including Odun Egungun and Odun Edi.

Prosecutors accused him of orchestrating a scheme in which six companies under his control filed fraudulent applications for U.S. federal relief funds under the Paycheck Protection Programme (PPP) and the Economic Injury Disaster Loan (EIDL) scheme.

Court documents revealed that portions of the illicit proceeds were laundered through personal and corporate accounts. Investigators seized a Medina County property in Ohio and confiscated over $96,000 from one of his company’s bank accounts.

Before returning to Nigeria in 2019 to ascend the throne of Ipetumodu, Oba Oloyede had built what many described as a respectable career in the United States as a banker and adjunct professor. His lawyers told the court that his involvement in the fraud was a stark deviation from his record of service, responsibility, and community leadership. They added that he had demonstrated remorse and taken full responsibility for his actions.

The monarch, a father of six and foster parent to several others, was granted bail after surrendering both his Nigerian and U.S. passports. He has remained under strict court supervision since then.

He is scheduled to be sentenced on August 26, 2025, with possible penalties ranging from a lengthy prison term to forfeiture of assets, depending on the judge’s ruling.
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https://www.nationalwaves-ng.com/oba-joseph-oloyede-pleads-for-leniency-as-us-court-set-to-convict-him-for-4-2m-fraud/