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Nigeria probes fake agency with $1M illicit funds
Nigerian authorities have launched an investigation following the discovery of a fake government agency that managed to obtain an official office and open 34 bank accounts, including accounts at the Central Bank, using forged documents to open these accounts. Its allocated budget for 2026 was approximately $950,000, despite no official transfer of funds. It was also found that the agency claimed its purpose was to attract investments, even though no law establishing such an entity exists. Meetings were held with officials and diplomats, and it was revealed that one individual used forged documents to open the accounts, raising suspicions in October 2025. The government confirmed that no funds have been disbursed to the fake agency.
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