EFCC seals off First Group’s office over $200bn scam

The Economic and Financial Crimes Commission (EFCC) yesterday sealed off the office of the First Group company, a real estate firm located on the 7th floor of the Bank of Industry building in the Central Business District, Abuja.

Daily Trust gathered yesterday that the company was implicated in a phony real estate deal in which innocent Nigerians were duped to the tune of $200 billion.

The source said: “Operatives of the EFCC had in May 2016 raided the office as part of investigations into the alleged property fraud. Several implicating documents were discovered, including a list of high profile patrons.”

It was further learnt that investigations into the scam revealed that the company, originally known as TFG Real Estate Limited, operates in Nigeria in the guise of First Group Company, a Dubai-based real estate firm which is not registered in Nigeria.