Nigerian Authorities Investigate Fraudulent Bank Accounts and Loans

The Economic and Financial Crimes Commission (EFCC) has initiated investigations into alleged fraud involving bank accounts, with one case involving a man accused of bypassing two-factor authentication (2FA) on multiple accounts. The EFCC is also probing a hotelier who claims to have been defrauded by banks following the issuance of a £450,000 loan during the pandemic. Additionally, SFU has launched an investigation into a multi-billion-dollar fraud in the oil sector, and US authorities are arresting an ex-immigration officer and his accomplice for alleged immigration fraud.