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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Economy
US President Trump Lists 25 Achievements of First 20 Months in Office
US President Trump Lists 25 Achievements of First 20 Months in Office
President Donald Trump has listed 25 achievements he said his administration had recorded since returning to office in January 2025.
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Trump made the claims in a post on his Truth Social platform on Friday, where he highlighted his administration’s policies on immigration, taxes, trade, crime, defence, energy, education and foreign affairs.
Among the achievements listed by the US president were what he described as the “most secure border in history”, the signing of the Laken Riley Act and what he called the largest drop in the US murder rate in history.
Below is the full list:
Achieved the most secure border in history – ZERO illegal aliens admitted to the United States in the past 16 months.
Signed the Laken Riley Act to get dangerous criminal aliens off our streets.
Achieved the largest drop in the murder rate EVER recorded, to the lowest level in 125 years-since 1900.
Signed the largest tax cuts in American History – the Great Big Beautiful Bill-including No Tax on Tips, No Tax on Overtime, and No Tax on Social Security for our great seniors.
Secured commitments for $19.2 trillion dollars of new investment in the United States.
Imposed historic tariffs to bring back American Manufacturing – including 50% tariffs on foreign copper, aluminum, and steel, and 25% tariffs on foreign automobiles.
The stock market has set 80 all-time record highs since the election.
More Americans are working today than at any time in the history of our country.
Made the largest-ever investment in the United States Armed Forces- $1 trillion dollars this year, and hopefully $1.5 trillion next year.
Captured and brought to justice the outlaw dictator of Venezuela, Nicolas Maduro, through Operation Absolute Resolve.
Obliterated Iran’s nuclear enrichment capacity with Operation Midnight Hammer and Operation Epic Fury to ensure Iran will NEVER have a nuclear weapon.
Conducted numerous successful military strikes to smash the drug cartels operating in our hemisphere-brought the flow of deadly fentanyl across our border down by a record 60%.
Secured Most Favoured Nation agreements to reduce the cost of many prescription drugs by price differences of 300, 400, 500, and 600 percent.
Terminated the Green New Scam, declared a National Energy Emergency, and began to Drill, Baby, Drill.
Ended the insane Electric Vehicle Mandate and other crippling regulations on American Automobiles.
American Exports have soared to the highest level in American history-we are on track to export an unprecedented $2.5 TRILLION dollars in goods this year alone.
17 Abolished all discriminatory “Diversity, Equity, Inclusion” (DEI) policies throughout the federal government and private sector.
Banned MEN from playing in women’s sports.
Banned transgender ideology and critical race theory in our schools.

Trump
Launched Trump Accounts – tax free investment accounts for every American child, starting with $1,000 for every newborn child.
Settled 8 raging wars with historic peace deals in our first 12 months- including the War in Gaza.
Got all living hostages returned to their families, both living and dead.
Halted all refugee admissions to the United States, including from Somalia and other dangerous places.
Deployed National Guard to restore Law and Order to Washington, D.C., Memphis, and New Orleans.
Made English the Official Language of the United States.
The list comes as the Trump administration continues to promote its record ahead of the 2026 US midterm elections.
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Akwa Ibom
Governor Umo Eno Reveals Economic Gains of Convention Centre, Ibom Hotel, Shopping City Projects
Governor Umo Eno Reveals Economic Gains of Convention Centre, Ibom Hotel, Shopping City Projects
Akwa Ibom State Governor, Pastor Umo Eno, has expressed delight over the economic impact and employment opportunities created by the ongoing International Convention Centre, Ibom International Hotel and ARISE Shopping City projects in Uyo.
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Governor Eno said the projects, beyond their infrastructural significance, have engaged more than 2,000 people daily over the past year, thereby contributing to economic activities and enhancing peace and security in the State.
The Governor spoke on Thursday, September 17, 2026, while addressing members of the Government House Press Corps shortly after inspecting the ongoing construction works at the three project sites in Uyo.
He expressed satisfaction with the pace of work, describing the projects as a manifestation of visions conceived by previous administrations.
“I am happy that there is visible progress and we thank God for what we see on ground. The International Hotel and the International Conference Centre were envisaged 16 years ago and I am happy that we are realizing that vision,” he said.
Governor Eno said the projects would also support the State’s tourism development and youth empowerment objectives under his administration’s ARISE Agenda.
According to him, the facilities, when completed, would boost tourism, attract visitors and investors, create employment opportunities for youths and showcase Akwa Ibom’s tourism potential to the international community.
“The International Convention Centre can take 5,000 people, and there are partitions that would help you segment your meetings. There are twelve breakout rooms, restaurant and other facilities” he said.
The Governor reiterated his administration’s commitment to providing modern tourism facilities that would complement Akwa Ibom’s growing profile as a tourism destination.
“What we are seeing here is part of development. If this is a state capital, and we want tourists to visit, we must have the facilities to accommodate them by developing those facilities to international standards,” he added.
Governor Eno commended the contractors handling the projects for maintaining the pace of work and expressed hope that the facilities would be completed and commissioned on schedule for the benefit of the people.

Umo Eno
The Governor was accompanied on the inspection tour by the Secretary to the State Government, Prince Enobong Uwah; Executive Assistant/Chief Delivery Advisor, Mr Aniefiok Johnson; Commissioner for Works, Prof. Eno Ibanga; Commissioner for Information, Hon. Aniekan Umanah; other members of the State Executive Council and government officials.
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News
NPF Repatriates Chinese Fugitive Wanted Over Smuggling of Endangered African Rosewood
NPF Repatriates Chinese Fugitive Wanted Over Smuggling of Endangered African Rosewood
The Nigeria Police Force, through INTERPOL National Central Bureau (NCB), Abuja, has repatriated a Chinese fugitive, Zhang Shijie, to Guangzhou, People’s Republic of China, following his arrest in Nigeria in connection with alleged large-scale smuggling of endangered African Rosewood.
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Zhang, who was wanted by the Yangpu Sub-Bureau of the Anti-Smuggling Bureau of Haikou Customs District, was the subject of an arrest warrant issued on 7th January, 2021 over his alleged involvement in the smuggling of approximately 1,400 tonnes of Pterocarpus erinaceus, commonly known as African Rosewood, an endangered tree species indigenous to West Africa. The consignment was valued at about 15.7 million Chinese Yuan.
The alleged offences were committed between November 2020 and January 2021, after which Zhang remained outside China. Intelligence subsequently established his presence in Nigeria, where he was residing in Ogun State with a Chinese passport which expired since 11th November, 2023.
Following sustained intelligence gathering, surveillance and coordinated investigative efforts, operatives of INTERPOL NCB Abuja arrested the fugitive on 10 September 2026 in the Ogere area of Ogun State, after which he was repatriated to Guangzhou, China, on 16th September 2026 in furtherance of bilateral police cooperation.
The Inspector-General of Police, IGP Olatunji Rilwan Disu, psc(+), NPM, reiterates the commitment of the Nigeria Police Force to strengthening international police cooperation and maximising INTERPOL tools and capabilities in tracking fugitives, combating transnational organised crime and preventing Nigeria from being used as a safe haven by persons wanted for criminal offences in other jurisdictions.

Chinese
The Nigeria Police Force remains committed to working with INTERPOL and international law-enforcement partners to strengthen cross-border security, disrupt transnational criminal networks and ensure that fugitives are brought within the reach of justice.
CSP Ani Iniedu, Anipr
Force Public Relations Officer
Force Headquarters, Abuja
17th September, 2026
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