Category Archives: News

Turkey, Pakistan, Lebanon Host the Highest Number of Refugees

The global refugee population continues to climb. In 2016 there were 17.2 million refugees, an increase of 7 percent over 2015, according to UNHCR, the UN agency for refugees. For the third straight year, Turkey hosted the most refugees, at 2.9 million, followed by Pakistan, with 1.4 million, and Lebanon with 1 million people. Turkey and Germany are the only Group of 20 nations among the top 10 host countries. More than half of the world’s refugees originated from Syria, Afghanistan and South Sudan. In South Sudan, a growing humanitarian crisis led to an increase of 64 percent during the second half of the year to 1.4 million people.

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Stakeholders Seminar on Whistleblowing and Legal Protection in Nigeria

Whistleblowing or the commitment of officials and employees to make public interest disclosures about alleged wrongdoing within their organisations, is crucially important to ensuring accountability and integrity in the public sector. The process will not work adequately unless there is a sound legislative framework to facilitate and protect public interest disclosures and adequate protection for witnesses.

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As part of its objectives which is creating awareness on fraud and other related matters, Center for Counter Fraud Awareness on Friday 26th May, 2017 visited King of Kings Secondary School, Lugbe, Abuja to sensitize them on crime and other related matters.

The program which started at about 12:30pm had in attendance teachers and students of the school and the awareness team of CCFA headed by Lynda Nzenwa
The presentation was divided in two parts, namely, introduction of CCFA as a non-profit organization to the students and a lecture on crime and its consequences. The students were made to understand crime, its types and categories, punishment melted out on criminals, effects of criminal acts on them as individuals and on the society.

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PREMIUM TIMES Centre partners CCFA to check fraud, corruption in Nigeria

Premium Times…

In a bid to enhance effective public service journalism and anti-graft reporting, the Premium Times Centre for Investigative Journalism (PTCIJ) has signed a partnership agreement with the Centre for Counter Fraud Awareness (CCFA).

CCFA is a Nigerian non-governmental organisation based in Abuja, which promotes awareness in fraud and fraud-related matters such as corruption, money laundering, human and drug trafficking, abuse of office as well as cyber crimes.

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“Spread knowledge on fraud and fraud related matters. Provide awareness through media, training, and workshops. And serve as a centre for collation of information related to fraud and fraud related matters.” These are some of the objectives of CCFA – Centre for Counter Fraud Awareness. CCFA is a non-profit organisation committed to protecting people and businesses by educating the public on fraud and fraud related issues including human trafficking and all forms of economic and financial crimes.

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Three million Nigerians lost N18 billion to MMM

Premium Times

The Nigerian Deposit Insurance Corporation, NDIC, has said that an ‎estimated three million Nigerians lost N18 billion in the MavrodiMundial Movement, MMM, ponzi scheme.

While speaking at the NDIC day at the ongoing 38th KadunaInternational Trade Fair on Thursday,the Managing Director of thecorporation, Umaru Ibrahim, decried the development.

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Money from Nigeria laundered in UK ‘should go to helping starving children’

Save the Children say £950m is needed by those affected by Boko Haram, with tens of thousands of children at risk of death in areas held by the group

Money looted from Nigeria in corrupt practices and laundered through the UK should be used to help save the lives of thousands of children at risk of starvation in the conflict-hit north-east of the country, a leading aid organisation says.

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Banking fraud is costing the Nigerian economy dearly

The World Post
Pervasive electronic banking fraud is affecting Nigeria’s banking system and costing the Nigerian economy dearly. It is also holding back the adoption of cashless technologies and has become an obstacle to financial inclusion in Africa’s second largest economy.

Recent data shows that last year electronic fraud in the banking sector accounts for about 16% of total fraud in the industry.

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Stopping Boko Haram by Curtailing Illicit Finance

Global Financial Integrity
Boko Haram developed from social unrest, poverty, and a strong disillusionment with the corruption of the Nigerian government. Today, the same factors make Boko Haram lethal.
Nigeria’s rampant corruption has left the nation unequipped to deal with security concerns, especially along porous borders through which Boko Haram receives immense support. A look at one of their videos reveals an immense amount of weaponry that is not only costly but very difficult to obtain.

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What SMBs and Enterprises Need to Know About Encrypted Hacks

Hackers now use HTTPS encryption to cover their tracks; billions of dollars worth of security technologies rendered useless against such cloaked attacks.

In the ever daunting crusade to secure the Internet, it’s often two steps forward, one step back. Each time the good guys achieve a notable advance, the bad guys uncannily find flaws in the maneuver and strike swiftly to take advantage.

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ECOWAS region loses $268b to illicit financial flows in 10 years – GFI

Ghana Business News

The Economic Community of West African States (ECOWAS) loses some $268 billion to illicit financial flows (IFFs) within a 10 year period from 2004 to 2014, computation of figures published by the Global Financial Integrity (GFI) shows.

The region with a population of about 335 million people, which is about one-third of the population of sub-Saharan Africa, has an estimated GDP of around $345 billion. The loss is therefore, approximately a colossal 78 per cent.

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Shipping crimes drop in Nigeria, others


There is apparently a positive outlook in the fight against piracy in the Gulf of Guinea and other hot spots across the globe, as reports confirmed relative peace being enjoyed in some maritime crime prone routes including Nigeria.

The Guradian reported recently that the nation’s fight against piracy is yielding positive results. This has been further lent credence by new data released by the United Kingdom Maritime Intelligence and Operations Company, Dryad Maritime, which also showed that there has been a drastic reduction in the number of attacks in the Nigerian territorial waters.

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Nigeria’s GDP may hit $1.45trn by 2030 on reduced corruption – PwC


The latest report by PricewaterhouseCoopers (PwC) on the Nigeria’s future has projected that country’s Gross Domestic Product (GDP) may hit $1.45 trillion by 2030 if corruption is reduced and effective policies are implemented.

At biennial growth rates of five and seven per cent till 2030, the report estimates that Nigeria’s GDP could be $530 billion higher if corruption is reduced to levels comparable to Malaysia, while arguing that national policies should be guided not only by improvements in GDP but also a broader measure of development through the Human Development Index (HDI).

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Nigeria Corruption Rank 1996-2016 | Data | Chart | Calendar | Forecast

Trading Economics
Nigeria is the 136 least corrupt nation out of 175 countries, according to the 2015 Corruption Perceptions Index reported by Transparency International. Corruption Rank in Nigeria averaged 118.30 from 1996 until 2015, reaching an all time high of 152 in 2005 and a record low of 52 in 1997. Corruption Rank in Nigeria is reported by the Transparency International.

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Banks recorded N18bn fraud cases in 2015 — NDIC

Business News
By BusinessNews Staff on June 30, 2016
The banking sector recorded 12,279 fraud cases involving the sum of N18.02bn in the 2015 financial period, the Nigeria Deposit Insurance Corporation disclosed on Tuesday.

The corporation, in its 2015 annual report and statement of account for the banking sector, stated that the 12,279 reported cases for 2015 represented an increase of 15.71 per cent over the 10,612 recorded in 2014.

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How Nigerian girls are forced into prostitution in Russia

Made for Minds
Criminals appear to be taking advantage of Russia’s student visa system to force girls into prostitution. DW’s Emma Burrows has been investigating how Nigerians come for university and disappear into the sex trade.

Two years ago a woman came to Blessing’s hometown in the south of Nigeria and told the young woman there was work for her in Russia. She told Blessing she would have a job in a supermarket, and that it would take the her just five or six months to earn the money to reimburse the costs of the visa and the journey to Russia. After paying back the $40,000, Blessing could keep all the money she made, the woman said.

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Trafficking of Nigerian women into prostitution in Europe ‘at crisis level’


UN says 80% of the Nigerian women who came to Italy by boat in the first half of 2016 will be trafficked into prostitution
The trafficking of Nigerian women from Libya to Italy by boat is reaching “crisis” levels, with traffickers using migrant reception centres as holding pens for women who are then collected and forced into prostitution across Europe, the UN’s International Organisation for Migration (IOM) warns.

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Offshore finance: more than $12tn siphoned out of emerging countries

Analysis shows $1.3tn of assets from Russia sitting offshore, as David Cameron prepares to host anti-corruption summit
More than $12tn (£8tn) has been siphoned out of Russia, China and other emerging economies into the secretive world of offshore finance, new research has revealed, as David Cameron prepares to host world leaders for an anti-corruption summit.

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Panama Papers reveal scale of offshore firms’ African operations

Offshore companies connected to 44 of Africa’s 54 countries appear in the Panama Papers leak, according to new research.

More than 1,400 companies in the files of the offshore law firm Mossack Fonseca have names that indicate mining or resource extraction interests – raising fresh concerns about how tax havens can be used to exploit the natural wealth of the world’s poorest continent.

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Super-rich may quit London homes under new anti-corruption rules

Estate agent predicts some billionaire clients will sell property if no longer able to keep identity secret via offshore firms

Super-rich international investors in London property are likely to sell off some of their mansions and penthouses after the introduction of anti-corruption rules cracking down on offshore secrecy, a leading estate agent has said.

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