Nigeria's EFCC prosecutes major fraud cases in Maiduguri

On June 3 2026, the Borno State High Court in Maiduguri sentenced Bukar Ahmed Shuwa to ten years imprisonment, with an option of a N200,000 fine, after he pleaded guilty to a N2.95 million crypto‑investment fraud involving the Bitget Wallet Coin scheme. The court noted the victim had been repaid.

In a separate case, the Economic and Financial Crimes Commission (EFCC) arraigned Abubakar Muhammad on June 3‑4 2026 on multiple counts of money‑laundering and criminal misappropriation totaling N650 million, alleged to have been raised through a fake mining‑investment venture. The Federal High Court and Borno State High Court granted him bail of N300 million pending further hearings.