Following investigation into an alleged case of stealing and criminal conversion, the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, on Monday, August 17, 2026 recovered 2.3 million litres of Automotive Gas Oil, AGO, valued at N4.485 billion from Mamemo Ibru of Ibafon Oil and Gas.

The recovery followed a petition submitted by Prudent Energy and Services Limited, alleging that petroleum products entrusted to Ibafon Oil and Gas for storage had been unlawfully converted, resulting in a significant shortfall in the company’s stock.

The petitioner also alleged that periodic withdrawals were made from the stored products until the outstanding balance stood at 2,574,031 litres.

However, during a subsequent physical measurement and reconciliation exercise, only 206,761 litres remained in the storage tanks, leaving a deficit of 2,367,270 litres.

Investigation revealed that Ibafon Oil and Gas is involved in the purchase and sale of Automotive Gas Oil (AGO) and also stores its petroleum products at the same depot alongside products belonging to its customers.

It was further revealed that Ibru allegedly used his position as the owner of Ibafon Oil and Gas to truck out petroleum products in excess of the quantity owned by the company, thereby converting the petitioner’s products for his own use.

Following the Commission’s intervention, the suspect handed over the recovered products to the petitioner, Prudent Energy and Services Limited.

A suspect, Haruna Yusuf,  intercepted with multiple undeclared foreign currencies, ,   $73,000( Seventy Three thousand United States Dollars)  £15,957 ( Fifteen Thousand, Nine Hundred and Fifty Seven Pound Sterling) & 827,800 Saudi Riyal  intercepted by the Nigeria Customs Service,  NCS,   at the Mallam Aminu Kano International Airport,  MAKIA. Kano Zonal office is being investigated by the Directorate of the Economic and Financial Crimes Commission (EFCC).

The investigation followed  the handover  of the suspect and the undeclared currencies by the Acting Customs Area Comptroller of the Kano/Jigawa Command,  Deputy Comptroller U. U.  Adamu at the Customs Area Command in Kano.

The intercepted currencies, which exceeded the legally permitted threshold, were discovered during routine primary and secondary screenings of arriving passengers between August 8 and August 12, 2026.

The Acting Zonal Director of the EFCC,  Kano Directorate, Assistant Commander of the EFCC, ACE1 Friday S. Ebelo, received the suspect and the recovered funds on behalf of the Commission.

According to Adamu,  the Customs made two separate interceptions.
On August 8,  2026,  “at approximately 14:20 hours, officers conducting passenger screening at the baggage seat of MAKIA intercepted an unaccompanied Saudi Air luggage  containing 827,800 Saudi Riyals and $53,300. The currencies were found concealed inside a footwear.” Adamu stated.

Similarly, on  August 12, 2026 “at approximately 13:50 hours, officers of the Nigerian Custom Service also flagged a luggage belonging to one Mr. Haruna Yusuf, who arrived at MAKIA on board Ethiopian Airlines flight ET941.

During secondary screening using Non-Intrusive Inspection Technology, $20,000 USD and £15,957  were found concealed inside sportswear shoes”, he said.
Adamu thereafter formally handed over the suspect, Mr. Haruna Yusuf, alongside all recovered exhibits to Ebelo for further investigation and prosecution.   He noted that the handover was in accordance with Section 4(f) of the NCS Act 2023, which empowers the Service to collaborate with other border regulatory agencies.
Adamu further explained that,  “these interceptions demonstrate the readiness and vigilance of our officers in detecting cross-border movement of undeclared foreign currencies above the allowed threshold.  The Command will continue to deploy technology, professional expertise, and intelligence-driven measures, including inter-agency collaboration to strengthen border controls and protect the integrity of Nigeria’s financial systems.”

Receiving the suspect and exhibits on behalf of the Executive Chairman of the EFCC, Mr. Ola Olukoyede, Ebelo expressed profound gratitude to the Customs Service for its  professionalism and cooperation with EFCC officers recently deployed to the airport.

“We must sustain this vigilance at all our entry points to counter the illegal movement of currency. The failure to declare large sums of currency and its equivalent is a violation of the Money Laundering (Prevention and Prohibition) Act, 2022,” he said.
He  urged the public to comply with the law, emphasizing that declaring currency attracts no penalty, only the source of undeclared funds may raise legal concerns.

“Once more, we call on the general public: as much as we are Nigerians and we encourage trade in and out of the country, people must adhere to the laws of the land. You must declare the currency you are carrying. If you declare it, nobody will seize your currency,” he said.

Ebelo reaffirmed the EFCC’s commitment to  thorough investigations and prosecution, stating that the Commission would continue to follow the law diligently.

Both Ebelo and Adamu applauded the longstanding synergy between the EFCC and NCS which has been critical to combating financial crimes and illegal cash movement across Nigeria’s borders.

The National Drug Law Enforcement Agency (NDLEA) has arrested a 48-year-old businessman at the Murtala Muhammed International Airport (MMIA) Ikeja Lagos, while heading to New Delhi, India, with 1.550 kilograms of suspected cocaine.

This is contained in a statement by the Director, Media and Advocacy, NDLEA, Mr Femi Babafemi on Sunday in Abuja.

Babafemi said that the suspect who liquidated all his assets to chase a dream of quick riches in the illicit drug trade, cleverly concealed the suspected illicit drugs in the side walls and railings of his bag.

He also said that the suspect who deals on marbles in Lagos, was arrested at the departure hall of terminal II of the Lagos airport while attempting to board a Qatar Airways flight to New Delhi, India.

“A search of his check-in bag uncovered 1.550 kilograms of suspected cocaine factory-fitted in the walls and railings of his bag.

“In a candid confession that lays bare the desperation that fuels the drug trade, the suspect said he had sold off his marble business and every asset he owned to raise the N23 million he paid for the consignment.

“The suspect said that the money was raised with the expectation of selling it in India for as much as N100 million.

“With his assets gone, and his dream of transiting from a marble trader to a drug kingpin effectively shattered following his arrest, the suspect remains in custody awaiting prosecution and likely time in jail,” he said.

Babafemi said that in another operation, NDLEA operatives acting on credible intelligence raided a warehouse within a residential compound at 20 Hakeem Dosumu street, Ago Palace area of Okota, Lagos.

According to him, a massive stockpile of codeine-based syrup was discovered.

“A total of 3,776 cartons, comprising 377,600 bottles of the controlled substance, valued at over N2.6 billion, was recovered between Aug. 7 and 8.”

He added that yet in another intelligence-led operation, NDLEA operatives on Friday raided the residence of a 55-year-old kingpin at 37 Ogundare street, Ipaja estate, Ipaja area of Lagos.

Babafemi said that the NDLEA operatives recovered 324 kilograms of suspected Colorado, a synthetic strain of cannabis, with a street value of N972 million, a Mercedes-Benz car and a Toyota Corolla car.

He said that the War Against Drug Abuse (WADA) social advocacy activities by NDLEA commands equally continued within the period under review

He quoted the NDLEA Chairman, retired, Brig.-Gen. Buba Marwa as commending the officers, men and women of MMIA and Lagos commands of the agency for the arrests and seizures made within the period under review..

He also praised their counterparts in all the commands across the country for pursuing a fair balance between their drug supply reduction and drug demand reduction efforts.