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EFCC Arraigns Three, Firms for Alleged N652.18m Theft in Lagos
EFCC Arraigns Three, Firms for Alleged N652.18m Theft in Lagos
The Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission, EFCC, on Wednesday, August 5, 2026, arraigned the trio.
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Jacob Acheneje Okolo, Yakubu Wisdom Onu Solomon and Issa Aloba Lateef for an alleged N652.18m theft before Justice Olubunmi O. Abike-Fadipe of the Special Offences Court sitting in Ikeja, Lagos.
The defendants, alongside two companies, Upper-Level Energy Resources and Crescent Integrated and General Merchandise Limited, were to be arraigned on July 8, 2026.
However, the arraignment could not proceed as scheduled due to the absence of the fourth defendant, Lateef, proprietor of Crescent Integrated and General Merchandise Limited, and his legal counsel.
Consequently, Justice Abike-Fadipe had adjourned the matter till Wednesday August 5, 2026 for the arraignment of the defendants.
At Wednesday’s proceedings, the defendants were arraigned on an eight-count charge bordering on conspiracy to steal, stealing and money laundering to the tune of N652,182,601:44 (Six Hundred and Fifty-two Million, One Hundred and Eighty-two Thousand, Six Hundred and One Naira, Forty-four Kobo).
One of the counts reads: “Jacob Acheneje Okolo and Upper-Level Energy Resources, sometime between 2022 and 2025, in Lagos, dishonestly stole and converted to your own use the sum of ₦343,765,101.44, property of Petrocam Trading Nigeria Limited, contrary to Sections 280(1)(b) and punishable under Section 287 of the Criminal Law of Lagos State, 2015.”
Another count reads: “That you, Jacob Acheneje Okolo and Upper-Level Energy Resources, sometime between 2022 and 2025, in Lagos, dishonestly stole and converted to your own use the sum of ₦200,932,500.00, property of Petrocam Trading Nigeria Limited, contrary to Sections 280(1)(b) and punishable under Section 287 of the Criminal Law of Lagos State, 2015.”
The defendants pleaded “not guilty” to the charges preferred against them.
Following their pleas, counsel to Okolo( first defendant), Upper-Level Energy Resources( second defendant) and Solomon ( third defendant), C.T.Ahmadu, informed the court that he had filed a motion dated July 8, 2026, praying the court to admit his clients to bail on liberal terms.
He also argued that the defendants were presumed innocent until proven guilty and urged the court to uphold their constitutional rights, particularly as the alleged offences were bailable.
He further submitted that the defendants would present witnesses in their defence at the trial.
Counsel to Lateef( fourth defendant) and Crescent Integrated and General Merchandise Limited (fifth defendant), Kola Gbadamosi, thereafter, made an oral application for the bail of his clients.
In support of his application, he cited relevant judicial authorities, including Alabi v. Federal Republic of Nigeria (2017) and V. Abang v. FRN (2024).
He also informed the court that the fourth defendant would call one witness in his defence.
Responding, the prosecution counsel, I.G. Akhanolu, opposed the bail applications for the first and third defendants, arguing that they had failed to honour the Commission’s invitations and were therefore liable to jump bail.
Akhanolu further submitted that considering the huge amount of money involved in the matter, the court should impose conditions that would ensure the availability of the first and third defendants throughout the trial.
He, however, did not object to the oral bail application made on behalf of the fourth defendant. He also informed the court that the prosecution would call six witnesses to prove its case.
After listening to the submissions of the defence and prosecution, Justice Abike-Fadipe admitted the first defendant to bail in the sum of N200,000,000:00 (Two Hundred Million Naira), with two sureties resident within the jurisdiction of the court.
The court also admitted the third defendant to bail in the sum of N50,000,000:00 (Fifty Million Naira), with two sureties who must own landed property within the jurisdiction of the court.
EFCC
The judge further ordered that the fourth defendant should continue to enjoy the administrative bail earlier granted him by the Commission pending the determination of a written bail application.
Justice Olubunmi- Fadipe directed the defence counsel to the fourth defendant to file a formal written application for his bail within seven days.
Justice Abike-Fadipe adjourned the matter till December 8 and 9, 2026 for the commencement of trial.
Eereporter.com
NAF Activates Immediate Search and Rescue Following Aircraft Accident in Ondo Community
The Nigerian Air Force (NAF) has activated an immediate Search and Rescue operation following an ATR-42 aircraft accident in the Igbokoda area of Ondo State on 5 October 2026.
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The aircraft was on a routine mission from Benin to Lagos when the accident occurred. Search and Rescue operations, in coordination with relevant authorities and emergency response agencies, are currently ongoing.
The NAF is committed to ensuring the success of the ongoing Search and Rescue efforts. Further details will be communicated in due course.
Helicopters crash
Ehimen Ejodame
Air Commodore
Director of Public Relations and Information
Headquarters, Nigerian Air Force
5 October 2026
Eereporter.com
News
Suspected Terrorists Kills Bus Driver, Abduct 18 Sokoto Health College Students Travelling to Oyo
Suspected Terrorists Kills Bus Driver, Abduct 18 Sokoto Health College Students Travelling to Oyo
Suspected terrorists have abducted about 18 students of Gamji College of Health Technology, Sokoto State, who were travelling to their home towns in Oyo State, SaharaReporters has learnt. The incident reportedly occurred within the past 48 hours along the route to Oyo State, with the driver of the bus allegedly killed at the scene.
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A youth leader from Oke-Ogun, who confirmed the incident to SaharaReporters during an exclusive interview, said the victims were not students of Usmanu Danfodiyo University (UDUS), as earlier reported.
According to him, the students were travelling in a chartered bus from Gamji College of Health Technology in Sokoto to Oke-Ogun, particularly Igboho in Oyo State.
“Sadly, the unfortunate incident is being confirmed by me because I’m from Oke-Ogun too, and our people have confirmed that it truly happened in the past 48 hours.
“But it wasn’t a bus conveying UDUS students. It was a bus taking students from Gamji College of Health Technology, Sokoto, to Oke-Ogun, Igboho to be precise.
“The driver was killed and all the students were kidnapped. They have reached the Mokwa side,” the youth leader said. Other sources familiar with the incident told SaharaReporters that the number of abducted students could be as many as 18.
The sources said the students were travelling in a chartered bus arranged by their school to convey them to their respective home towns in Oyo State. They were reportedly all taken away by the assailants after the driver was killed.
The reported movement of the abducted students towards the Mokwa axis has raised concerns among residents and relatives of the victims, as the area has previously witnessed attacks and abductions along major roads.
The victims were travelling from Ibadan, Oyo State, to orientation camps in Abia and Akwa Ibom when gunmen reportedly attacked their two buses along the Owerri-Onitsha Road in Umunoha, Imo State, on Thursday.
Isiah Akpan, the Managing Director of Uko Akwa Ibom Motors Nigeria Limited, said the abductors had demanded N50 million for each victim, putting the total ransom at N950 million.
Reacting in a post on X, human rights activist and African Action Congress (AAC) presidential candidate, Omoyele Sowore, said the incident reinforced his longstanding position that the NYSC had “outlived its usefulness in its present form.”
Terrorists Attack
“You cannot force young Nigerians to ‘serve their fatherland’ when the same country cannot guarantee their safety while they travel to their places of service,” he wrote.
Sowore called for the immediate suspension of the scheme and its eventual abolition, proposing that corps members should, in the interim, be allowed to serve within their states of origin.
Eereporter.com
Many Feared Dead as Helicopter Crashes in Ondo Community
Many persons are feared dead after a helicopter crashed in Igbokoda, headquarters of Ilaje Local Government Area of Ondo State.
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The incident, which occurred on Monday, October 5, 2026, threw the coastal community into panic, with residents scampering for safety.
Details surrounding the crash remained sketchy as of the time of filing this report.
It was yet unclear how many persons were aboard the helicopter, while the condition of possible survivors could not be immediately ascertained.
Sources in the community told SaharaReporters that efforts were underway to access the crash site and determine the extent of casualties and circumstances that led to the crash.
“Yes, it’s true. A helicopter just crashed now at Igbokoda, Ondo state,” a resident told SaharaReporters.
Ondo State Police Command spokesperson Abayomi Jimoh told SaharaReporters he was unaware of the incident but would make inquiries.
Helicopters crash
Igbokoda is a riverine community and commercial hub of Ilaje, one of the oil-rich areas of Ondo State, where helicopters are frequently used for oil and gas logistics operations.
Nigeria has recorded a series of helicopter crashes in recent years, many involving oil workers and military aircraft, raising fresh concerns over aviation safety and regulatory compliance.
Eereporter.com
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