Ola Olukoyede, the Chairman of the Economic and Financial Crimes Commission (EFCC), has revealed that the anti-graft agency has discovered another worse scheme other than crypto trading platform Binance and its system.

He said the agency has frozen about 300 accounts to ensure the safety of the foreign exchange market.

The scheme, popularly called the “P to P” peer- peer financial trading scheme, has reportedly operated outside the official banking and financial corridors and there was a looming disaster that could further crashed the Naira value that has continued to gain.

“There are people in this country doing worse than Binance,” he said, adding that over $15bn passed through one of the platforms in the last one year, outside the financial regulations.

Meanwhile, police authorities in Kenya have reportedly arrested Nadeem Anjarwalla, an executive of cryptocurrency platform Binance, who fled Nigeria some weeks ago.

Anjarwalla had escaped from custody in Nigeria following the Federal Government’s crackdown on the cryptocurrency platform in a bid to strengthen the naira.

While the Nigerian authorities later traced Anjarwalla to the East African nation, multiple reports say the Binance executive is now in the custody of the Kenyan police.

According to the reports, government sources in Kenya confirmed that the Binance chief is now in the custody of the country’s police.

Former governor of Kogi State, Yahaya Bello, has opened up on his failure to appear before a federal high court in Abuja, says it’s due to fear of arrest by the Economic and Financial Crimes Commission (EFCC).

Recall that the EFCC sought to arraign Bello on 19 counts bordering on alleged money laundering, breach of trust and misappropriation of funds to the tune of N80.2 billion.

Although the arraignment was initially scheduled for April 18, Bello was absent from court on the day.

At the resumed court session on Tuesday, Adeola Adedipe, a member of Bello’s legal team, said his client would have appeared in court but was worried about being taken into custody.

“The defendant wants to come to court but he is afraid that there is an order of arrest hanging on his head,” Adedipe said.

He asked the court to revoke the warrant of arrest issued on April 17 against the former governor.

Adedipe argued that the charge had not been served on his client as required by law at the time the warrant of arrest was made.

“As at the time the warrant was issued, the order for substituted service had not been made. That order was just made this morning,” he said.

“A warrant of arrest should not be hanging on his neck when we leave this court,” counsel to the defendant added.

However, Kemi Pinheiro, EFCC’s lawyer, argued that for the arrest warrant to be vacated, the former governor must be arraigned and take his plea.

Earlier, Emeka Nwite, presiding judge, made an order directing that the defendant should be served the charges by substituted means through his lawyers.

The court has fixed May 10 to rule on the application to vacate the warrant of arrest.

The Economic and Financial Crimes Commission has arrested former Minister of Aviation, Hadi Sirika, over an ongoing N8,069,176,864.00 money laundering probe.

The indicted former Minister of Aviation arrived at the Federal Capital Territory Command of the EFCC at about 1:00 pm on Tuesday, The PUNCH is reporting.

Our correspondent, who was at the Wuse office of the EFCC, observed the embattled former minister’s arrival at the anti-graft agency’s Abuja office.

Following his arrival at the command, Sirika is currently meeting with EFCC investigators to answer questions on alleged fraudulent contracts awarded by him to a company known as Engirios Nigeria Limited, owned by his younger sibling, Abubakar Sirika.

Impeccable anti-graft sources who spoke on the condition of anonymity, because they were not authorized to speak, confirmed the development to our correspondent on Tuesday.

“Yes, that was Hadi Sirika who was taken into our FCT custody. He is currently meeting with EFCC investigators over the alleged N8,069,176,864.00 aviation ministry contract fraud,” a source revealed.

Another source noted, “The N8,069,176,864.00 aviation ministry contract fraud was carried out in connivance with his younger brother, Abubakar Sirika, through the latter’s company.”

In February, It was exclusively reported that the EFCC was investigating the activities of the Aviation Ministry under former Minister Sirika for conspiracy, abuse of office, diversion of public funds, and contract inflation.

A credible source who spoke with our correspondent on Tuesday revealed that the anti-graft commission is investigating the activities of the Aviation Ministry for conspiracy, abuse of office, diversion of public funds, and contract inflation.

Others are criminal breaches of trust and money laundering amounting to N8,069,176,864.00 during Sirika’s tenure in office.

The sum is said to be for four aviation contracts from the former minister to a company known as Engirios Nigeria Limited, owned by his younger sibling, Abubakar Sirika.

Apart from being listed as the company’s Managing Director and Chief Executive Officer, Abubakar is said to be the sole signatory to the company’s two accounts, domiciled in Zenith and Union Banksy.

It was further revealed that the ex-minister’s younger brother, Abubakar Sirika, has been arrested and detained by the commission in connection with N3,212,258,930.18 paid to his company, Engirios Nigerian Limited’s, bank account by the former minister.

It was noted that there is no trace of work done on any of the contract items to date.

The source said Abubakar Sirika, who was arrested on Sunday, February 4, has since been assisting the commission in its probe of the Aviation Ministry’s financial expenditures during Mr Sirika’s tenure.

The EFCC investigator said, “We’re investigating an N8,069,176,864.00 money laundering case linked to former Aviation Minister Hadi Sirika.

“Hadi awarded contracts to his brother Abubakar, knowing that the latter is a civil servant, a deputy director on Level 16 in the Federal Ministry of Water Resources, where he has been working since 2000 till date.

“The first of the contracts from the former minister to Engirios Nigeria Limited was on August 18, 2022, for the construction of the Terminal Building in Katsina Airport, at a cost of N1,345,586,500.00. The second was awarded on November 3, 2022, for the establishment of the Fire Truck Maintenance and Refurbishment Center in Katsina Airport, valued at N3, 811,497,685.00.

“The third contract was on February 3, 2023, for the procurement and installation of lifts, air conditioners, and a power generator’s house in Aviation House, Abuja, at the cost of N615,195,275.000, while the fourth was awarded on May 5, 2023, for the procurement of Magnus aircraft and a simulator for the Nigerian College of Aviation Technology, Zaria, at the cost of N2, 296,897,404.00.

“Out of the total contract sum, the ex-minister paid out N3,212,258,930.18 to his younger brother’s Engirios Nigerian Limited, who, upon receipt of the payment, transferred it to different companies and individuals. There is no trace of work done on any of the contract items to date.

“Abubakar Sirika is currently in our custody at the Headquarters, and he is providing us with more useful information on the financial activities of the Aviation Ministry under the supervision of his older brother, Hadi Sirika.”