N2.3bn Scam: Popular Oil Tycoon In EFCC’s Nest


Get real time updates directly on you device, subscribe now.

A popular Oil tycoon, Shehu Badamasi, has been apprehended by the operatives of the Economic and Financial Crimes Commission (EFCC) over various financial offences.

Badamasi is reported to have duped a Lagos-based businessman of N2.3bn.

Those who reported Badamasi to the EFCC, said they did that because of the no-nonsense attitude of the EFCC Chairman, Ibrahim Magu

A source said that the EFCC was aware that the suspect is well connected within the security agencies and the corridors of power, adding that the agency will ensure Badamasi faces the full wrath of the law.

“Yes, he has been with us and we are talking to him on all the issues in the petition written by a Lagos-based businessman, who claimed he was defrauded of N2.3 billion and another who lost N100 million to the same suspect,” a source in EFCC has revealed to the Vanguard.

It was learnt that the EFCC had secured a warrant to keep the suspect for 17 days to enable the operatives question him extensively on all the issues raised against him by aggrieved persons.


Leave a Reply

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.