N1.5bn fraud, EFCC files 17-count charge against Fani-Kayode

The Economic and Financial Crimes Commission, EFCC, has filed a 17-count charge against a former Aviation Minister and Spokesman for the Goodluck Jonathan Campaign Organisation, Mr Femi Fani-Kayode over an alleged 1.5 billion Naira fraud. A former Minister of Finance, Senator Nenadi Usman, a firm – Joint Trust Dimensions Limited – one Danjuman Yusuf and another Olubode Oke, (said to be at large) were also charged alongside Mr Fani-Kayode. The defendants are expected to be arraigned at the Federal High Court sitting in Lagos as soon as the case is assigned to a judge. A copy of the charge showed that while Mr Fani-Kayode was named in all 17 counts, the former Finance Minister was only named in the first four counts of the charge. In the first count, Usman, Fani-Kayode, Yusuf And Jointrust Dimensions Nigeria Limited on or about January 8, 2015, within the jurisdiction of the Court conspired to indirectly retain the sum of 1.5 billion Naira, a sum the EFCC said they reasonably ought to have known formed part of the proceeds of an unlawful act of stealing. “They, therefore, committed an offence contrary to Section 18 (a) of the Money Laundering (Prohibition) (Amendment) Act, 2012. The Offence is punishable under Section 15(3) & 4 of the same Act,” the charge read. The EFCC had listed 17 witnesses to testify against the defendants including representatives of some banks.

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Security Alert; Bart Ransomware Bypasses Corporate Firewalls

A new ransomware variant has emerged that’s similar to widespread threats such as Dridex 220 and Locky Affid=3, but uses a security-evading technique that may allow it to attack organisations protected from other malware, according to computer security researchers. Ransomware has spread quickly in the last few months, as a number of payouts have attracted cyber-criminals to the technique.

Buhari Considers Hadiza Bala Usman As Head Of NPA

Nigerian Ports Authority (NPA) and the Minister of Transportation, Mr. Chibuike Amaechi, has submitted Ms. Hadiza Bala Usman’s name to President Muhammadu Buhari to take over as the new managing director of NPA, says Reporter.Should Buhari approve the recommendation, Ms. Bala Usman, 40, will become the first female chief executive of a top tier federal government agency and of the NPA. She shall take over from Alhaji Habib Abdullahi, who was reinstated by Buhari in August 2015 as the managing director of NPA, after he had been shown the exit by former President Goodluck Jonathan in April 2015.

Yahoo Fails To Reveal Buyer, Suffers £332m Loss In Q2

Yahoo has failed to update investors on the sale of its core internet business as it revealed it suffered a £332 million loss in its second quarter. Instead, CEO Marissa Mayer said that “progress” has been made on its strategic alternatives but failed to define what that subjective term meant. Yahoo saw a rise in revenue to $1.3 billion (£1bn) in the second quarter, with mobile revenue growing from £252 million to $378 million (£287m).

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