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Alleged $1.5m Fraud: EFCC Presents Two Witnesses Against Defendant In Lagos
Alleged $1.5m Fraud: EFCC Presents Two Witnesses Against Defendant In Lagos
The Economic and Financial Crimes Commission, EFCC, on Tuesday, 23 and Wednesday, 24 June, 2026 presented two prosecution witnesses, PW1, Babatunde Adebayo, and PW2, Paul Olufemi, in the trial of Ifoma Immanuel, who is facing charges an alleged $1.5 million fraud before Justice Mojisola Dada of the Lagos State Special Offences Court sitting in Ikeja.
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Investigations revealed that the defendant allegedly induced Adebisi Adebutu of R28 Holdings Limited to invest $1.5 million under the guise of financing projects linked to Chappal Petroleum Development Company Limited, Intermediate Investment Holdings Limited, and Chappal Energies Mauritius Limited.
According to investigations , the investment was accompanied by assurances of reimbursement, a development capital fee of $2.25 million, and a 22.4 per cent equity stake in Intermediate Investment Holdings Limited.
Following the conclusion of investigations, the EFCC’s Lagos Zonal Directorate 1 arraigned Immanuel and his company, Intermediate Investment Holdings Limited, on March 11, 2026, on a two-count charge bordering on obtaining by false pretence and forgery involving $1.5 million.
The defendants pleaded not guilty to the charges.
At the resumed hearing on Tuesday, June 23, 2026, PW1, led in evidence by prosecution counsel, Babatunde Sonoiki, told the court how he facilitated the transfer of $500,000 into accounts nominated by the defendant in the United States and Mauritius.
Adebayo, a financial adviser, testified that in 2022, Immanuel approached him seeking financial assistance, claiming that he had secured an investor interested in funding a business venture.
“The defendant informed me that he had an investor willing to invest in a business. At that time, the exchange rate was about N600 to one US dollar,” he told the court.
He further stated that the defendant later sent payment instructions via WhatsApp, including details relating to a total sum of $500,000.
According to him, Immanuel provided his personal bank account details in Jersey Island, where $400,000 was to be credited, and directed him to confirm from Sheriff Oluwo and Chikezie Evuluchkwu where the remaining $100,000 should be sent.
“He forwarded his personal bank details in Jersey Island, where the sum of $400,000 was to be credited. He also directed me to confirm from Sheriff Oluwo and Chikezie Evuluchkwu where the balance of $100,000 should be sent,” he said.
Adebayo added that although the defendant initially requested that the funds be transferred into his personal account, he declined and insisted on a corporate account.
“We requested a corporate account, and the defendant nominated Intermediate Investment Holdings Limited. All proof of payment was sent to Ifoma Immanuel. He gave instructions regarding the $400,000 transfer and directed me to contact Sheriff Oluwo and Chikezie Evuluchkwu concerning the balance of $100,000,” he testified.
The prosecution also called PW2, Paul Olufemi, a compliance officer with Providus Bank, who testified on Wednesday, June 24, 2026.
Olufemi, led in evidence by another prosecuting counsel E. E. Iheanacho, SAN, told the court that he had worked in the bank’s compliance department for about four years and regularly interfaced with law enforcement agencies, including the EFCC.
He stated that Providus Bank received a letter from the EFCC on May 30, 2025, requesting account-opening documents and statements of accounts relating to the first defendant.
“We received the request and, after scrutinising it, retrieved and printed the account-opening documents and statements of account from our records. We also attached a certificate of identification duly certified by the bank,” he said.
The witness identified the EFCC request letter, the bank’s covering letter, the certificate of identification, account-opening documents, and statements of account, and sought to tender them as exhibits.
Counsel to the first defendant, Awah Kalu, SAN, raised no objection to the documents being admitted in evidence.
However, counsel to the second defendant, C. E. Wilson Okereke, objected to the admissibility of some of the documents, arguing that they were photocopies that had not been duly certified by the EFCC.
He further contended that the Certificate of Incorporation of 107 Global Ventures, being a public document, ought to have been properly certified before being tendered.

EFCC
In response, prosecution counsel Iheanacho, SAN, argued that the documents originated from Providus Bank, which had custody of them, and that the witness, being a bank official, was competent to tender them. He further submitted that the documents were original bank records accompanied by the bank’s certification and covering letter.
Following the objections, the prosecution opted to withdraw the disputed documents to regularise their status.
Justice Dada subsequently granted the application, striking out the EFCC request letter and the Providus Bank response letter from the list of exhibits.
The matter was adjourned until June 29, 2026, for the continuation of trial.
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Obi: Government Doing Everything To Ensure I Do Not Contest In 2027
Obi: Government Doing Everything To Ensure I Do Not Contest In 2027
Presidential candidate of the Nigeria Democratic Congress, Peter Obi, has alleged that forces within the Federal Government are working to prevent him from appearing on the ballot for the 2027 presidential election.
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Speaking on Friday as a guest speaker at a leadership programme organised by NextGen Mentorship and Leadership Initiative at Madonna University, Okija, Obi claimed efforts were underway to stop his participation in the next election, Daily Post reports.
“If you know what they are doing to ensure that I’m not on the ballot in 2027, you will be surprised. Nigerian government is doing everything to ensure that I do not contest in this election, but I’m not looking at the obstacles but at the destination.
“I’m rather focussed at the fruitfulness of the destination and that is what keeps me going,” he said.
Obi also challenged all prospective presidential contenders, including President Bola Tinubu, to a public debate on their plans for the country.
“I challenge any of those contesting to a debate to say what they want to do for this country, including President Bola Tinubu. I’m not saying it to make you happy but to change Nigeria and make it work,” he said.
The former Anambra State governor told the students that he was not driven by personal ambition but by a desire to see the country improve.
Get your PVC
“I’m not desperate to be Nigerian President but desperate to see Nigeria work. Go and obtain your PVC. If you don’t vote, you are hurting your future. When you have your PVC, do not vote for me because I’m an Igbo man. I’m not contesting election because I’m an igbo man, but vote for me because I’m the most qualified.”
Obi also spoke about insecurity across the country, saying: “I will fight to make Nigeria better and end the criminality in Nigeria. There is insecurity in the entire country and everyone is involved, so I want to build a country that works.”
The NDC figure further argued that Nigeria’s challenges stem from a lack of commitment among leaders and what he described as reactionary forces determined to hinder progress.
Reacting to a Federal High Court judgment in Lokoja, Kogi State, which set aside an earlier ruling directing the Independent National Electoral Commission (INEC) to register the NDC as a political party, Obi said the setback would not deter him.
“They can not stop me. They will fail. Let me assure you it is not the end of the road. We are committed to this democracy and those who want to kill this democracy are trying to hurt the society.

Peter Obi
“The reactionary elements in Nigeria, those who are bent on holding Nigeria down do not want it to work but I can assure you it would work. I have confidence that I will pull through because the will of the people must prevail,” he declared.
He added: “No where is safe in Nigeria today, yet the people who should help salvage the country are bent on hurting our democracy. My message to all those who mean well for Nigeria and not just my supporters is for us to remain peaceful and continue to resist this tragedy being imposed on Nigeria.”
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NAF Boost Maintenance Efficiency And Workplace Safety Through Specialised NDT And HSE Training
NAF Boost Maintenance Efficiency And Workplace Safety Through Specialised NDT And HSE Training
The Nigerian Air Force (NAF) has continued to strengthen its technical capacity and operational readiness through targeted human capital development, with personnel of NAF Base, Port Harcourt, successfully completing specialised training in Non-Destructive Testing (NDT) Level 1 and Health, Safety and Environment (HSE) Levels 1–3. Facilitated by Bevelog Nigeria Limited under its annual Free Skills Development Initiative (FSDI), the training equipped participants with industry-relevant technical and safety competencies to enhance maintenance efficiency and strengthen workplace safety culture.
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The specialised programme reinforces the Nigerian Air Force’s commitment to sustaining a highly skilled and mission-ready workforce by enhancing personnel competence in preventive maintenance, technical inspection and workplace safety.
The Non-Destructive Testing (NDT) training equips personnel with practical skills to support preventive maintenance and improve aircraft serviceability, while the Health, Safety and Environment (HSE) component strengthens workplace safety, risk management and accident prevention across the Service.
Together, these competencies enhance operational efficiency and reinforce the Nigerian Air Force’s commitment to maintaining the highest standards of professionalism and safety.
The Chief of the Air Staff, Air Marshal Sunday Kelvin Aneke, appreciates the invaluable contributions of corporate organisations such as Bevelog Nigeria Limited in advancing capacity development through meaningful civil-military partnerships.

NAF
According to him, “such collaborations complement the Service’s efforts to build a highly skilled and mission-ready workforce while contributing to enhanced national security and sustainable national development”.
The NAF remains committed to fostering strategic partnerships that promote innovation, professional excellence and institutional capacity in support of its constitutional mandate to defend Nigeria and its people.
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ICPC Boss: Corruption Must Be Prevented Through Education, Not Prosecution Alone
ICPC Boss: Corruption Must Be Prevented Through Education, Not Prosecution Alone
The Independent Corrupt Practices and Other Related Offences Commission has said corruption can be more effectively tackled through preventive education rather than relying solely on prosecution after offences have been committed.
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The ICPC Chairman, Dr Musa Adamu-Aliyu (SAN), stated this at the closing of a two-day workshop on integrating the teaching of anti-corruption into Nigerian universities and the Nigerian Law School on Friday in Kano.
The workshop, themed “Institutionalizing Anti-Corruption in Nigerian Legal Training,” was organised by the ICPC in collaboration with the Nigerian Law School.
Adamu-Aliyu said corruption is often addressed after the damage has already been done, stressing that the fight against the menace should begin with the formation of character and ethical values among future legal practitioners.
“Corruption is rarely defeated in the courtroom after the damage has been done. It is prevented much earlier through the formation of character and values in young professionals,” he said.
According to him, many individuals prosecuted for corruption are educated professionals, making it imperative to strengthen integrity and ethical consciousness among law students before they enter legal practice.
He said the legal profession has a critical role to play in restoring public confidence in the justice system by producing lawyers who are competent, ethical, and committed to justice.
Adamu-Aliyu noted that legal education curricula should produce graduates with both intellectual capacity and moral conscience, urging lecturers to reflect anti-corruption values in both teaching and institutional practices.
The ICPC chairman pledged the commission’s continued support for the initiative, expressing optimism that the proposed framework would produce a new generation of lawyers committed to integrity, accountability, and the rule of law.
Earlier, Prof. Garba Sa’ad of Bayero University, Kano, presented a paper titled “Curriculum Development and Review: Emerging Challenges and the Way Forward.”
He described curriculum development as a continuous process that must respond to changing societal realities, recommending that anti-corruption education be introduced either as a standalone course or integrated into existing law courses such as Criminal Law and the Law of Evidence.

ICPC
Also, Dr Nte Bisong, Deputy Director and Head of the Open and Distance Learning Division of the National Universities Commission, presented a paper titled “The Core Curriculum and Minimum Academic Standards (CCMAS).”
Bisong said incorporating anti-corruption content into the CCMAS for law programmes would produce lawyers who are intellectually proficient, ethically grounded, and committed to the anti-corruption crusade.
NAN reports that the workshop brought together legal educators, curriculum experts, and institutional stakeholders to advance the landmark initiative aimed at embedding anti-corruption values into Nigeria’s legal education framework.
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