US BANKS FREEZES NIGERIAN EMBASSY ACCOUNTS

US Banks freeze Nigeria Embassy accounts over suspicious activities- The accounts of the Nigerian Embassy in Washington DC and the Nigerian Mission in New York might have been frozen by the Bank of America and Wells Fargo, two leading financial institutions in the United States of America over alleged money laundering activities. Sources informed African Examiner that the action of the banks was sequel to a suspicious money transfer remitted to the United States from Nigeria. Following the suspicious transactions in favor of the accounts between February and May this year, the two banks requested the mission to explain the source of the funds which the Mission could not immediately avail the financial institutions. Consequently the sanction had adversely impacted on the finances of the Mission which has made it extremely difficult for the Embassy to pay its operational bills and staff salaries. These monies wired from Nigeria were aside from the regular money that normally comes into the embassy accounts to run its operation and other official activities. Our source said the embassy was unable to provide satisfactory explanation for about $3.6 million that was wired into the accounts prompting the banks to freeze the accounts till further notice. African Examiner also learnt that these monies are allegedly wired into the accounts of the embassy by some

EFCC ARREST US BIG BOY OVER NIGERIAN EMBASSY FRAUD

[caption id="attachment_3637" align="alignleft" width="400" caption="EFCC boss,Mrs. Farida Waziri"][/caption]

By Gistmaster.com

A US based Nigerian lawyer accused of pocketing about $1.6 million meant as tax refund to the Nigerian embassy in Washington DC has been arrested. Mr. Femi Babafemi the spokesman of Economic and Financial Crimes Commission told newsmen today that the lawyer, Ephraim Ugwuonye is facing charges over his role in the deal.

Gistmaster.com gathered that the US based big boy was arrested on Saturday 12 February 2011 at the Murtala Muhammed International Airport, Lagos, about one year after the EFCC has been on his trail.

Ugwuonye allegedly defrauded the embassy to the tune of $1.6 million Dollars ,being the amount the IRS refunded to the Nigerians embassy after properties worth $26 million was sold. Ugwuonye was in charge of the four properties when it was sold.