News
Alleged N4.29bn Forex Fraud: Defendants’ Absence Stalls Arraignment Of UBA, Four Others
Alleged N4.29bn Forex Fraud: Defendants’ Absence Stalls Arraignment Of UBA, Four Others
The arraignment of United Bank for Africa (UBA) Plc, and four others for an alleged N4.29bn foreign exchange fraud before Justice Rahman Oshodi of the Lagos State Special Offences Court sitting in Ikeja was, on Wednesday, June 3, 2026, stalled due to the absence of the defendants in court.
UBA, alongside Muyiwa Akinyemi, Amangbo Eziashi Stephen, Geeos Global Service Limited and Fedat Global Limited, was to be arraigned by the Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 1, on a four-count charge bordering on foreign exchange infractions, concealment of proceeds of unlawful activities, retention of criminal proceeds, and money laundering to the tune of N4.29bn.
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One of the counts reads:
“That you, United Bank for Africa Plc, Muyiwa Akinyemi, Amangbo Eziashi Stephen, Geeos Global Service Limited and Fedat Global Limited, between 14th September, 2022 through 20th March, 2023 at Lagos, within the jurisdiction of this Honourable Court, conspired to sell Forex above the rates stipulated by the Central Bank of Nigeria and thereby committed an offence.”
Another count reads: “That you, United Bank for Africa Plc, Muyiwa Akinyemi, Amangbo Eziashi Stephen, Geeos Global Service Limited and Fedat Global Limited, sometime in September 2022, at Lagos, within the jurisdiction of this Honourable Court, concealed the aggregate sum of N4,290,112,796.72 (Four Billion, Two Hundred and Ninety Million, One Hundred and Twelve Thousand, Seven Hundred and Ninety-Six Naira, Seventy-Two Kobo) in your United Bank for Africa Account No. NGN09991931102 derived directly from your illegal act.”
When the matter was called for arraignment on Wednesday, the prosecution counsel, T. J. Banjo, announced his appearance. Adewale Kamourudeen appeared for the first, second and third defendants, while I. S. Hassan represented the fourth defendant.
There was no legal representation for the fifth defendant.
Addressing the court, Banjo stated that the matter was scheduled for a report on service of court processes and the arraignment of the defendants. According to him, all the defendants had been duly served with the charge and other court processes, adding that affidavits of service had already been filed before the court.
The prosecutor described the defendants’ absence as another attempt to frustrate the trial. He further submitted that the Commission had made efforts to arrest the second and third defendants after they allegedly jumped the administrative bail earlier granted to them by the EFCC.
Banjo further told the court that he was surprised by the defendants’ absence, despite the fact that they were served with the charge and relevant court processes. In response, counsel to the first, second and third defendants, Kamourudeen, maintained that his clients had not been served with either the information or any court processes relating to the case.
He argued that the defendants only became aware of the charge through media reports.
“The first, second and third defendants have not been served with the information or the hearing notice for today’s proceedings or the previous adjourned date. We got wind of it through newspaper reports. That is why we are here,” he said.
He added that he needed to examine the court’s file to ascertain the nature of the proof of service relied upon by the prosecution.

Court
Responding, Banjo, however, dismissed the defence’s position, informing the court that UBA’s Compliance Officer, Chima Okugbo, received service on behalf of the bank and the two individual defendants, Akinyemi and Stephen. According to him, Okugbo had consistently represented the bank during the investigations and was also the person who accepted service on behalf of the two officials.
When Justice Oshodi asked the defence counsel whether he was willing to accept service on behalf of his clients, he declined, stating that he had no instructions to do so.
Thereafter, Justice Oshodi adjourned the matter till June 16, 2026 for a report on service, arraignment, and further proceedings.
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News
NAF, Oyo Deepen Strategic Partnership To Advance Aviation Capability, Security And National Development
NAF, Oyo Deepen Strategic Partnership To Advance Aviation Capability, Security And National Development
The Nigerian Air Force (NAF) and the Oyo State Government have taken significant steps towards strengthening institutional collaboration following a visit by the Executive Governor of Oyo State, His Excellency Engr Seyi Makinde, to the Chief of the Air Staff (CAS), Air Marshal SK Aneke, at Headquarters Nigerian Air Force, Abuja, on Friday, 24 July 2026.
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Discussions focused on a proposed Memorandum of Understanding (MoU) that will facilitate strategic cooperation in the operation and maintenance of the Oyo State Government’s newly acquired Diamond DA-42 aircraft, reinforcing a shared commitment to enhancing aviation capability, security and sustainable development.
Governor Makinde expressed profound appreciation to the Nigerian Air Force for its unwavering support to Oyo State, particularly its vital role during the recent rescue operation involving abducted students in Oriire Local Government Area.
He commended the professionalism and dedication of NAF personnel, noting that the Service’s Intelligence, Surveillance and Reconnaissance (ISR) personnel operated tirelessly, day and night, to provide critical situational awareness that significantly supported the operation.
The Governor further observed that the intelligence and operational insights shared by the Nigerian Air Force have also provided valuable perspectives that will help shape the State’s technology-driven security architecture and future security initiatives.
He also appreciated the Service for supporting the accommodation of the State’s aircraft and expressed the desire to expand collaboration in aviation operations and post-service housing initiatives for the benefit of both institutions.
In his remarks, the Chief of the Air Staff expressed appreciation for the confidence reposed in the Nigerian Air Force, describing the proposed partnership as a reflection of the Service’s professionalism, operational excellence and enduring relationship with the people of Oyo State. Air Marshal Aneke reaffirmed the NAF’s commitment to supporting the State Government in areas of mutual interest, assuring that the necessary frameworks would be explored to facilitate a mutually beneficial collaboration.

NAF, Oyo
He further commended Governor Makinde’s visionary leadership and reaffirmed the Nigerian Air Force’s resolve to continue fostering strategic partnerships that strengthen national security, promote innovation, enhance personnel welfare and accelerate socio-economic development.
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CDS Charges Air-To-Ground Integration Graduands To Strengthen Joint Operational Capability
CDS Charges Air-To-Ground Integration Graduands To Strengthen Joint Operational Capability
The Chief of Defence Staff (CDS), General Olufemi Oluyede, has charged newly qualified Joint Terminal Attack Controllers (JTACs) and Joint Fire Observers (JFOs) to apply their specialised skills in strengthening joint military operations and enhancing operational effectiveness across the Armed Forces of Nigeria.
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Represented by the Director Liaison, Defence Headquarters, Air Vice Marshal Garba Bello, the CDS gave the charge during the graduation ceremony of the Advanced Air-to-Ground Integration Course 4/2026 held at the Nigerian Air Force Base, Makurdi.
He emphasised that effective air-ground integration remains indispensable in today’s complex security environment, as it enhances mission success while reducing the risks of friendly fire and collateral damage.
He also commended the successful evolution of the programme into a fully indigenous training capability delivered by Nigerian instructors, describing it as a major milestone in building sustainable national capacity for joint operations in line with the Chief of the Air Staff’s commitment to strengthening jointness, mission-oriented training and operational excellence.
A total of 53 personnel comprising 16 JTACs and 37 Joint Fire Observers (JFOs) drawn from the Nigerian Army, Nigerian Navy and Nigerian Air Force successfully completed the intensive 16-week programme.
Through rigorous classroom instruction, simulation exercises and practical field training culminating in live Close Air Support missions using A-29 Super Tucano aircraft, the participants acquired the expertise required to coordinate close air support, facilitate effective joint fires integration, and provide accurate targeting information that enhances commanders’ decision-making and the effective employment of joint fires.
The enhanced capability is expected to improve the precision, responsiveness and effectiveness of joint operations against terrorism, insurgency, banditry and other emerging security threats across the country.
Earlier, the Director General, Air Power Centre of Excellence, Air Vice Marshal Patrick Obeya, described the graduation as another significant milestone in institutionalising doctrine-driven air-to-ground integration and developing a specialised cadre capable of strengthening the vital link between air power and surface forces.
Also speaking, the Commandant, Air Warfare and Doctrine Centre (AWDC), Air Vice Marshal Garba Ibrahim Jibia, noted that the graduates are now equipped with the knowledge, procedures and interoperability required to coordinate joint fires in accordance with established operational doctrine.

CDS Charges Air-To-Ground Integration Graduands
The ceremony featured a live air-to-ground targeting demonstration, a video presentation of field exercises, and the presentation of awards and certificates to outstanding graduands, reinforcing the Armed Forces of Nigeria’s commitment to developing a highly professional, mission-ready and interoperable force capable of addressing contemporary security challenges.
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News
Arsenal Moves For Vinicius Jr As Real Madrid Push For Diomand
Arsenal Moves For Vinicius Jr As Real Madrid Push For Diomand
Arsenal are exploring a potential deal for Real Madrid winger Vinicius Junior, while the Spanish giants are reportedly advancing their efforts to sign RB Leipzig forward Yan Diomande.
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Sky Sports News on Saturday reported that there has been no club-to-club contact between Arsenal and Real Madrid over Vinicius, but the Premier League club’s interest is genuine.
The Brazilian is one of several forwards Arsenal are exploring, with Julian Alvarez, Diomande and Bradley Barcola also among their options.
Vinicius, 26, has entered the final year of his contract with Real Madrid. If an agreement cannot be reached on a new deal, the Spanish club could be open to selling him rather than risk losing the Brazil international for free next summer.
The situation has also been linked to Real Madrid’s interest in Diomande.
Sky Sports, Talk Sports and other reports said the Spanish club had an £85.4m bid rejected by RB Leipzig for the 19-year-old Ivorian winger, while Liverpool and Arsenal have also shown interest.
A report carried by Yahoo Sports said the developments could provide a boost to Arsenal’s hopes of signing Vinicius, with the Brazilian potentially open to a move if Real Madrid complete a deal for Diomande as his replacement.
Real Madrid’s pursuit of Diomande has reportedly intensified, with talkSPORT reporting that the club is advancing its efforts to sign the winger after its initial bid was rejected.
The report said Diomande had initially preferred a move to Paris Saint-Germain, but the lack of a completed agreement between PSG and Leipzig had left room for Madrid to pursue the deal.
Sky Sports’ Peter Smith described a potential move for Vinicius as a “jaw-dropping addition” for Arsenal.
“It’s well known Arsenal are aiming to strengthen their left-wing options this summer – but a deal for Brazil ace Vinicius Junior would be a jaw-dropping addition,” Smith said.
Vinicius was runner-up in the 2024 Ballon d’Or voting and is regarded as one of Real Madrid’s leading attacking players.
He has also been named one of the club’s captains for the new season, according to Brazilian outlet ge, which reported that he would wear the armband in the absence of Federico Valverde.
The report also noted that Vinicius’ relationship with new Real Madrid manager Jose Mourinho had been in focus.
“However, it is understood the player and head coach have been in touch since an incident last season which saw Vinicius Jr abused by Mourinho’s Benfica midfielder Gianluca Prestianni and that the pair were ready to start this new campaign together with a clean slate.
“But with Arsenal’s interest being reported, there is now the possibility Vinicius Jnr will be kicking off the 2026/27 season in the Premier League,” the report said.
Arsenal have been looking to strengthen their left-wing options this summer.
The club sold Leandro Trossard to Besiktas for £17m and signed Christos Tzolis from Club Brugge for £34m, while Gabriel Martinelli scored one Premier League goal last season.

Arsenal Moves For Vinicius Jr
Arsenal’s interest in Vinicius remains exploratory, with no club-to-club contact reported, while Diomande is being pursued by Real Madrid and has also attracted interest from Arsenal and Liverpool.
A move for Diomande could therefore have implications for the transfer market around Vinicius, although no deal has been agreed for either player.
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