EFCC Goes After Bola Tinubu For Corruption, Writes CCB For Ex-Lagos Governor’s Asset Documents | GOVERNMEND

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The EFCC has requested Bola Tinubu’s asset declaration documents from the Code of Conduct Bureau, Peoples Gazette can report, in a politically-charged inquiry that could see the former Lagos governor and ruling party chieftain arrested and prosecuted before 2023.


The anti-graft office in November 2020 asked the asset fraud investigation office to supply details of Mr. Tinubu’s asset documents as part of an ongoing probe of the politician, according to a copy of the request obtained by the Gazette. The request, dated November 6, was a follow-up to previous demands made with respect to Mr. Tinubu’s asset filings.


In the letter, the EFCC referred to its previous letter of September 4, 2020, and CCB’s response of October 9, 2020, asking the bureau to supply “outstanding requested information of Bola Ahmed Adekunle Tinubu.” It was not immediately clear whether or not the CCB has obliged the EFCC’s request for additional information ever since, or the nature and scope of information provided if applicable.

Credit: PressExpress

BF Borgers, an accounting firm owned by former US President Donald Trump, has been accused by the Securities and Exchange Commission (SEC) of engaging in widespread fraud and operating a “sham audit mill.” The SEC alleges that BF Borgers committed “deliberate and systemic failures,” including the fabrication of audit papers and false assurances to clients regarding compliance with accounting standards.

This fraudulent activity, described as “massive,” occurred between January 2021 and June 2023, impacting over 1,500 SEC filings and more than 500 public companies. As a consequence, the SEC has permanently barred BF Borgers from practicing as accountants before the agency and imposed a severe penalty, including a collective fine of $14 million against the firm and its owner, Benjamin Borgers.

In a statement, Gurbir Grewal, director of the SEC’s enforcement division, declared that Borgers and his “sham audit mill” have been permanently shut down. The SEC has notified public companies that engaged BF Borgers to seek new accounting firms.

Trump Media & Technology Group, chaired and majority-owned by Donald Trump, was among BF Borgers’ clients. While Trump Media may be the most high-profile client, BF Borgers served around 350 clients subject to SEC rules during the mentioned period. However, the SEC review only examined BF Borgers’ work for public companies, excluding its services to Trump Media when it was private.

Trump Media, despite its significant valuation on Wall Street exceeding $9 billion, generates limited revenue. Its social media platform, Truth Social, faces challenges, with a notable decline in average daily active US users on iOS and Android in April. Despite this, Donald Trump remains a prominent user on Truth Social.

In response to the SEC’s actions, a spokesperson for Trump Media expressed readiness to collaborate with new auditing partners in compliance with the SEC’s order. BF Borgers did not provide a comment on the allegations.

In summary, BF Borgers, owned by Donald Trump, faces severe consequences following accusations of fraud by the SEC. The firm’s practices, characterized as a “sham audit mill,” have led to permanent suspension and hefty fines. Trump Media, among BF Borgers’ clients, is navigating challenges despite its substantial valuation, particularly with its Truth Social platform experiencing a decline in user engagement.

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