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Alleged $1.5m Fraud: Court Dismisses Preliminary Objections, Bail Application Of Intermediate Investment Holdings Boss, in Lagos
Alleged $1.5m Fraud: Court Dismisses Preliminary Objections, Bail Application Of Intermediate Investment Holdings Boss, in Lagos
Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on Thursday, May 7, 2026, dismissed the preliminary objections and bail application filed by the boss of Intermediate Investment Holdings Limited, Ufoma Joseph Immanuel, over an alleged $1.5 million fraud.
The Economic and Financial Crimes Commission, EFCC, on Wednesday, March 11, 2026, arraigned Immanuel, alongside his company, Intermediate Investment Holdings Ltd., on a two-count charge bordering on obtaining by false pretence and forgery to the tune of $1.5m.
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Count one reads: “UFOMA JOSEPH IMMANUEL and INTERMEDIATE INVESTMENT HOLDINGS LIMITED between April 2022 and October 2023 in Lagos, within the jurisdiction of this Honourable Court, with intent to defraud, induced Adebisi Adebut of R28 Holdings Limited to deposit the total sum of S1, 500, 000.00 (One Million, Five Hundred Thousand United States Dollars USD) as investment described as to wit: “Cash and or Capital Cost in Chappal Petroleum Development Company Limited; Business Development Cost in Intermediate Investment Holdings Limited: Capital and or Capital Call in Chappal Energies Mauritius Limited” on the understanding that R28 Holdings Limited will be; (a) reimbursed the investment amount (b) paid a Development Capital fee of $2 250,000.00. (Two Million, Two Hundred and Fifty Thousand Dollars) (c) 22.4% worth of shares in Intermediate Investment Holdings Limited which representation you knew to be false.”
Count two reads: “UFOMA JOSEPH IMMANUEL, sometime between April 2022 and April 2025 in Lagos, within the jurisdiction of this Honourable Court, with intent to defraud, forged a document to wit: TERM SHEET and purporting same to have been executed by Sheriff Oluwo and Olaniran Osotuyi in order to facilitate your obtaining money by inducement from Adebisi Adebutu of R28 Holdings Limited.”
The defendant pleaded “not guilty” to the charges when they were read to him.
Following the defendant’s “not guilty” plea, prosecution counsel, Babatunde Sonoiki, asked the court to fix a date for the commencement of trial and also prayed the court to remand the defendant in the custody of the International Criminal Police Organization, INTERPOL, pending the conclusion of its investigation.
Sonoiki also narrated how the defence counsel, Oluseun Awonuga, SAN, had physically assaulted his colleague, Emenike Mgbemele, at the sitting on March 2, 2026.
According to him, “My lord, the learned silk, physically assaulted my colleague on the staircase on his way to serve the defendant the charge as directed by the court.
“There is a video to that effect and we intend to tender it before the court.”
Though Awonuga did not respond to the allegation made against him by the prosecution counsel, he informed the court of a preliminary objection and a written address dated January 5, 2026, while urging the court to discountenance the counter-affidavit of the prosecution.
The prosecution, in a 21-paragraph counter-affidavit dated February 9, 2026, had urged the court to dismiss the notice of preliminary objections.
According to Awonuga, the Federal High Court, in a ruling, had ordered the EFCC not to arrest the defendant.
“EFCC has flouted the order by arresting the defendant and I hereby urge your lordship to discountenance their counter- affidavit,” he said.
Responding, the prosecution counsel, Sonoiki, said that the ruling was part of the motion that had earlier been withdrawn by the defence and should not be before the court.
“ There is nowhere in the ruling that says the defendants cannot be arraigned in a court of competent jurisdiction. My lord, the ruling was delivered in a civil case; and according to the Supreme Court, a criminal case and civil case can go on at the same time”

Court
“We urge the court to dismiss the application and order accelerated hearing in this case,” Sonoiki had said.
After listening to both parties, Justice Dada had, consequently, adjourned the case till May 7, 2026 ( today) for ruling.
Ruling on the application , Justice Dada held that: “The preliminary objection is baseless and the entire application is lacking in merit; and it is hereby dismissed.”
Also, Justice Dada, in her ruling on the bail application of the defendant, held that “On the basis of considering the antecedent of the defendant for not honouring the invitation of the applicant after he was granted administrative bail, I agree with the complainant that he is a flight risk; therefore, bail is refused.”
Justice Dada adjourned the case till June 24, 26, 29 and 30, 2026 for the commencement of trial.
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ICPC Rebuilds Anti-Graft Wall At NIOMCO As Agency Vows Zero Tolerance For Corruption
ICPC Rebuilds Anti-Graft Wall At NIOMCO As Agency Vows Zero Tolerance For Corruption
In a decisive move to fortify institutional integrity within Nigeria’s solid minerals sector, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) has officially re-constituted the Anti-Corruption and Transparency Unit (ACTU) at the National Iron Ore Mining Company Limited (NIOMCO) in Itakpe, Kogi State.
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The formal inauguration, which took place recently, saw a robust gathering of company and ICPC officials, underscoring a renewed collective commitment to ethical governance and fiscal probity.
Representing the ICPC, Ag. Resident Anti-Corruption Commissioner for Kogi State, Mr. Akaakahol Elijah, speaking through the Chief Legal Officer of the Kogi office, Ms. Imaobong Effanga, lauded NIOMCO’s proactive embrace of the anti-corruption framework. He described the exercise as a clear testament to the company’s willingness to serve as a vanguard in the national crusade against malfeasance.
“The establishment of this Unit is a Federal Government initiative designed not only to expose and deter corrupt practices but also to entrench a culture of transparency across the public service,” Ms. Effanga stated. She further noted that the ICPC’s sustained campaign has already yielded significant recoveries of misappropriated public funds and bolstered the resilience of institutions historically susceptible to graft.
In a stern admonition to the newly appointed members, he charged them to wield their mandate with fairness and professionalism: “Let me congratulate each of you deemed worthy of this sacred trust. However, I implore you not to use this position as a tool for witch-hunting. Instead, work in harmony with the company’s management to promote discipline, accountability, and a shared sense of purpose.
Also addressing the gathering, the Ag. Sole Administrator of NIOMCO, Engr. Loto Isinmidun Festus expressed profound satisfaction with the ICPC’s intervention. He reaffirmed that his administration maintains an unyielding stance against all shades of corruption—including abuse of due process, embezzlement, contract inflation, extortion, and staff victimisation.
“Under my watch, this company operates a zero-tolerance policy. Those found wanting in character have in the past faced appropriate sanctions, and this new unit will serve as both a shield and a sentinel for our operations,” Engr. Festus declared. He urged the ACTU members to maintain a keen oversight of administrative and general activities, ensuring that every transaction mirrors the highest standards of propriety.

NIOMCO, ICPC
Responding on behalf of the re-constituted body, the newly appointed ACTU Chairman, Engr. Philip O. Omeiza assured the ICPC and the company’s management of the Unit’s unwavering dedication. He pledged that his team would spare no effort in entrenching a transparent, accountable, and corruption-free work environment, and reaffirmed their readiness to collaborate fully with all stakeholders to safeguard the company’s resources and reputation.
The event concluded with a symbolic handover of instruments of office, marking the dawn of a new era of accountability at NIOMCO; a development widely seen as a critical step in Nigeria’s ongoing fight to cleanse its public institutions of corrupt practices.
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Governor Eno Unveils Cutting-Edge Medical City, Employs 2,844 Health Workers in Healthcare Expansion Drive
Governor Eno Unveils Cutting-Edge Medical City, Employs 2,844 Health Workers in Healthcare Expansion Drive
Governor Eno unveils cutting-edge medical city,..Minister of Health Pledges Federal Support to Akwa Ibom’s Medical drive
Akwa Ibom State Governor, Pastor Umo Eno, has unveiled a breathtaking Medical City project designed to transform healthcare delivery, reduce medical tourism, and position the state as a leading destination for specialized healthcare services in Nigeria and beyond.
The unveiling ceremony, performed by the Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, was graced by healthcare professionals, industry stakeholders, and development partners, and showcased what has been described as one of the most ambitious healthcare infrastructure projects in the country.
Unveiling the Medical City, Governor Umo Eno described the project as one of the most audacious investments ever undertaken by his administration.
Referencing Habakkuk 2:2, the Governor said the vision was conceived not only for the benefit of Akwa Ibom people but also for Nigerians and Africans seeking access to quality healthcare services.
Governor Eno expressed appreciation to President Bola Ahmed Tinubu for creating an enabling environment and providing support to sub-national governments through ongoing reforms.
He noted that the Medical City aligns with the healthcare objectives of his administration’s ARISE Agenda as well as the Federal Government’s Renewed Hope Agenda.
The Governor disclosed that the project occupies approximately 100 hectares of land, with various sections designated for different medical specialties and healthcare-related services.
According to him, the facility is designed to drastically reduce medical tourism by providing technologically advanced, patient-centred healthcare services comparable to global standards.
“This project is not just a construction project; it is an investment in the future health and prosperity of our people,” the Governor said.
He added that the Medical City is expected to become financially self-sustaining in the long term while creating employment opportunities and stimulating economic growth.
Governor Eno also revealed that the state has employed 2,844 healthcare professionals since March 2025 as part of efforts to strengthen healthcare service delivery across Akwa Ibom.
He urged residents to take advantage of the state’s health insurance programmes, emphasizing that universal health coverage remains critical to achieving sustainable healthcare outcomes.
The Governor further announced that Akwa Ibom would receive a brand-new Aircraft terminal in July, a development expected to complement the state’s growing profile as a destination for investment and specialized healthcare services.
In his keynote address, the Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, congratulated Governor Eno and the people of Akwa Ibom State for their vision and commitment to healthcare transformation.
He praised the Governor’s passion for improving the wellbeing of citizens and described the Medical City as a practical demonstration of the healthcare reforms being championed by President Tinubu.
“You have shown remarkable vision, commitment and passion for your people. What we are witnessing here reflects the aspirations of the Federal Government’s healthcare reform agenda,” the Minister said.
Prof. Pate assured the state government of the Federal Government’s commitment to supporting the successful completion and operation of the project.
He also pledged to facilitate engagement with Nigerian healthcare professionals in the diaspora who may be willing to contribute their expertise toward the development of the Medical City and the country’s healthcare sector.
The Minister urged the state government to consider making health insurance mandatory to ensure wider coverage and improved access to healthcare services for residents.
He commended Governor Eno’s leadership and prayed for continued strength and wisdom to deliver on the vision for the people of Akwa Ibom State.
Providing an overview of the project, the Commissioner for Health, Dr. Emmanuel Ekem John and the Project Manager, Dr. Teinye Isokariari described the facility as more than a hospital, calling it “a journey” toward healthcare excellence.
According to Dr Isokariari, the Medical City will comprise a 10-storey complex housing 62 medical specialties and equipped with cutting-edge technology capable of delivering world-class healthcare services.
He disclosed that 100 Akwa Ibom indigenes would be sent abroad for specialized training six months before the completion of the facility to enable them operate the sophisticated equipment to be installed in the centre.

Healthcare
Dr. Isokarari further revealed that the structure is supported by 356 foundation piles to ensure maximum stability and durability, assuring stakeholders that the project would meet global standards.
“We are committed to ensuring that this dream becomes a reality,” he stated.
The Secretary-General of the Nigerian Cancer Society, Prof. Adamu, expressed delight over the project, describing it as a bold initiative that would significantly improve cancer treatment and healthcare delivery across Nigeria.
He assured the state government that cancer patients nationwide would benefit immensely from the facility upon completion.
Also speaking, the National President of the Nigerian Medical Association (NMA), Prof. Ernest, commended Governor Umo Eno’s remarkable investments in the health sector, noting that his achievements have become a model for other governors across the country.
He particularly praised the Governor for introducing retention allowances for healthcare workers, describing the initiative as a pioneering step toward addressing workforce challenges within the sector.
In his remarks, the Commissioner for Housing, Dr. Henry Archibong, thanked the Governor for the opportunity to serve the state and contribute to the realization of the landmark project.
He commended Governor Eno’s deliberate commitment to improving the welfare and quality of life of Akwa Ibom people through impactful development initiatives.
The Medical City marks another milestone in Akwa Ibom’s healthcare development journey and reinforces the state’s ambition to become a regional hub for medical excellence, innovation, and specialized healthcare delivery.
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Nigerian Police Arrest Four, Kill One Linked To Benin Market Kidnap
Nigerian Police Arrest Four, Kill One Linked To Benin Market Kidnap
The Edo State Police Command has arrested four suspects and killed one in connection with the kidnapping incident at the Vegetable Market in Benin on June 14, 2026.
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In an update contained in a statement on Tuesday by the state Police Public Relations Officer, Eno Ikoedem, she said that three suspects were arrested on June 20 in addition to the one earlier nabbed, bringing the arrest to four while one was killed.
The statement read, “The Edo State Police Command wishes to update the general public on its breakthrough into the investigation of the kidnapping incident which occurred at the Vegetable Market off Airport Road in Benin City on June 14, 2026.
“Following the directive of the Commissioner of Police, Edo State Command, Monday Agbonika, and acting on credible intelligence, operatives of the Intelligence Response Team (IRT), Edo, launched a coordinated operation which led to the arrest of one Marvelous Isaac, male, 32 years, on 18/6/2026 in a gun duel while another suspect identified simply as Precious (surname unknown) was neutralised in the process.
“Items recovered from the suspects included one Lexus RX 350 SUV with registration number EKP 848 AE, red in colour, which was confessed to have been used in the kidnapping operation; one pump-action shotgun; two live cartridges; a cash sum of ₦2,050,000; and one motorcycle.
“The operatives on 20/6/2026 further arrested additional members of the organised crime syndicate, namely Gift Raphael, female, 27 years; who further led to the arrest of wisdom Michael, male; and Rufus Michael, male, during separate operations conducted within Benin City and parts of Delta State.
“All suspects have made confessional statements linking them to the incident and other criminal operations within the state.”
He assured residents of Edo State that the police would not stop until all criminal elements were brought to justice.
The command also urged members of the public to continue supporting the police with timely and credible information, while remaining vigilant and security conscious at all times.

Police
The PUNCH reported that a woman who went shopping on June 14 at the popular Vegetable Market off Airport Road in Benin City was reportedly abducted.
The woman was at the market with her husband and children when gunmen reportedly arrived at the scene and whisked her away.
In a video circulating online, a woman who claimed to have witnessed the incident described it as a kidnapping, saying, “Today, for the first time, I witnessed someone being kidnapped.”
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