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EFCC Arraigns Three, Firms for Alleged N652.18m Theft in Lagos

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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 Arraigns Gidado Ibrahim

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.
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Nigerian Press Council Seeks Involvement in EFCC’s Anti-Corruption Fight

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Nigerian Press Council

Nigerian Press Council Seeks Involvement in EFCC’s Anti-Corruption Fight

The Nigerian Press Council, NPC has sought collaboration with the Economic and Financial Crimes Commission, EFCC, in the fight against corruption, economic and financial crimes.
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The request was made on Wednesday, August 5, 2026 when NPC’s Executive Secretary, Dr. Dili Ezughah led the top management team of the Council on a courtesy visit to EFCC’s corporate headquarters.

Ezughah who praised the Commission for its productive engagement with the media commended the Commission for its “unwavering commitment to transparency, accountability, integrity and good governance,” noting that such commitment had significantly advanced the country’s fight against corruption.

He described the EFCC as a “strategic national institution” and expressed appreciation for the Commission’s professional engagement with journalists. While highlighting the importance of a free, responsible and ethical press in promoting public accountability he expressed the Council’s intention to build a “mutually beneficial and enduring relationship” with the EFCC.

“The Nigerian Press Council regards the EFCC as a strategic national institution whose unwavering commitment to transparency, accountability, integrity and good governance has significantly strengthened Nigeria’s fight against corruption. We also commend the Commission’s commitment to engaging the media professionally and its recognition of the important role of a free, responsible and ethical press in promoting public accountability. We look forward to building a mutually beneficial and enduring relationship with the Commission,” he stated.

He proposed areas of collaboration between the EFCC and NPC, which include, joint capacity-building for journalists, collaborative public enlightenment campaigns on economic crimes, structured information-sharing channels, and joint research and advocacy to promote media ethics and accountability, adding that collaboration in these areas would deepen public confidence in the anti-corruption fight and enhance responsible journalism.

The NPC boss identified some of the challenges undermining his Council’s effectiveness to include the absence of a permanent headquarters and operational vehicles. These, he said, have adversely affected operational efficiency, stakeholder engagement and training activities in the Council.

Secretary to the EFCC, Muhammad Hammajoda, who stood in for the Commission’s Executive Chairman, Ola Olukoyede, expressed delight with the visit and assured the NPC delegation that its positions would be duly communicated to the Chairman. “I want to assure you that we are delighted with this visit. I have noted all you said and I wish to assure you that your positions will be duly communicated to the Executive Chairman.”

He took note of the important role of the NPC in ensuring professional compliance and ethical media practice in the country. “I wish to appreciate you all for the sacred role you play in upholding press standards and fostering a harmonious relationship between the media and members of the public, as well as in monitoring the activities of the press with the view of ensuring media houses’ compliance with the code of professional and ethical conduct.

“I wish to state here that we hold the press in high esteem as one of our critical stakeholders. Indeed, the Nigerian press has been an indispensable partner in our successes as a Commission and I wish to assure you that we relish the cordial relationship and have been doing our utmost to sustain it,” he said.

While urging the NPC to further roll up its sleeves in the discharge of its duties, he noted that the task before the Council has become more onerous with the unregulated proliferation of the new media.

Nigerian Press Council

Nigerian Press Council

“I wish to emphasize that yours is an onerous task, especially with the unregulated proliferation of the new media. The increasing expansion of the media space can only mean more work, focus and dedication from you.”

He assured the delegation of the readiness of the Commission to collaborate with it in the interest of the anti-graft fight. “We value collaboration, being one of our core values. And will collaborate with you,” he said.
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EFCC Arrests Spiritualist for Alleged Sextortion

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EFCC Arrests Spiritualist for Alleged Sextortion

The Economic and Financial Crimes Commission, EFCC, has arrested one Odigie Moses, a self-acclaimed spiritualist for alleged sextortion to the tune of $1,100 (One Thousand, One Hundred Dollars).
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He was arrested in Ekpoma, Edo State.

The suspect, who misrepresented himself on Zelle, a social media platform as possessing spiritual healing powers, was contacted by his victim, an Indian woman, who was in need of spiritual intervention on some life-threatening challenges. The suspect subsequently deceived her into taking a naked spiritual bath, which he recorded live without her permission, and thereafter blackmailed her to send him money, else he would make the video public.

EFCC

EFCC

Investigation by the EFCC revealed that the victim had to pay the sum of $1,100 to the suspect in order to prevail on him not to release her nudity to the public.

He will be charged to court as soon as investigations are concluded.
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Umahi Replies Donald Duke, Says “Lagos-Calabar Coastal Highway Advances Across States”

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Umahi

Umahi Replies Donald Duke, Says “Lagos-Calabar Coastal Highway Advances Across States”

The Honourable Minister of Works, Senator Engr. David Umahi, CON, has clarified opinion arising from the opinion expressed by former Cross River State Governor, Donald Duke, that the Lagos-Calabar Coastal Highway would may not go beyond Epe, explaining that construction has already progressed beyond the area and is advancing steadily across several states.
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Speaking during an inspection of Section 4B of the Lagos-Calabar Coastal Highway in Ondo State on Wednesday, August 5, 2026, the Minister explained that the Renewed Hope flagship infrastructure project of President Bola Ahmed Tinubu is making steady progress, creating thousands of jobs, improving security and opening new opportunities for commerce, agriculture and education.

Recalling Donald Duke’s opinion on the project, Umahi pointed out that the facts on the ground have now answered every doubt. “So the Lagos-Calabar Coastal Highway is already on sail. And then so we have sail past Lagos that my brother Donald Duke talked about.”

The Minister explained that construction is progressing simultaneously across several state, “We are also on sail at Ogun, 28KM, on sail at Ondo, 52KM, all by two. We are already on sail in Calabar, 27km, and the Akwa Ibom, the first section of Akwa Ibom is about 47km. Those jobs are over 60 percent done. And we are on sail in the longest section of this Lagos-Calabar, that is at Akwa Ibom, 180km by two.”

Umahi emphasised that the coastal highway is not just about connecting communities but about transforming lives through employment, improved security and economic prosperity. “Roads are source of employment. We’ve counted over one thousand people within this section employed by HITECH. It is creating a lot of direct and indirect jobs. It is also solving the problem of insecurity. Because anywhere we are working, we have a lot of security people working along the corridor. We have the local people that are also helping, and they have their vigilante, they have their local security, and so it is helping. It is opening a lot of corridor for commerce, for agriculture, for education.”

The Minister maintained that constructive criticism remains welcome, provided it is accompanied by practical alternatives. “So if you want to criticize us, I’ve said it, criticize us constructively and offer alternatives.”

Umahi further explained that President Bola Ahmed Tinubu remains fully committed to delivering the Lagos-Calabar Coastal Highway, expressing confidence that the project will be completed. “According to the words of President Bola Tinubu, he said this project will be done. With God on his side, it will be done.”

The Minister urged the people of the Niger Delta to support and defend the transformational project, describing it as one that will reshape the economic future of the region. “It is up to Niger Delta people to open their mouth and defend these projects. Of course, they should defend the project. They should defend the president. They must have to vote for the president to complete this project.”

Umahi maintained that opposition to the coastal highway does not reflect the interests of the Niger Delta people. “Those who are attacking the coastal highway, they don’t have love for the Niger Delta people.”

The Minister described the Lagos-Calabar Coastal Highway as one of the most transparent and economically prudent infrastructure projects ever undertaken in the country. “And this project is the most prudent project I’ve ever seen. When the Deutsche Bank people came to finance the first section, they said that the construction was in perfection. They said the design was in perfection, but the procurement, the cost was undervalued. And that’s why when they put it in the market, it was oversubscribed by 100m US dollars. And that is our bragging right as Minister of Works.”

Responding to concerns that the highway alignment was altered to benefit private estates, Umahi clarified that the route was changed solely on engineering and economic considerations.

He explained that the original proposal along the coastline encountered soil deposits as deep as 50 metres, making construction technically difficult and prohibitively expensive. He further noted that the original alignment would also have required bridges across three large ocean channels measuring about 3.5 kilometres each, significantly increasing the project’s cost.

He pointed out that the revised alignment followed President Tinubu’s directive to ensure that the project remained achievable without compromising quality. “This is because the president wants Ministry of Works as much as possible to see how we minimize large ocean, body waters and then rivers. So we have to navigate it in compliance to the directive of the president that this must be realized.”

Umahi

Umahi

The Minister commended HITECH Construction Company for its professionalism, quality of work and peaceful relationship with host communities, describing the company as a dependable partner in the successful delivery of the project. “We commend very highly the doggedness of HITEC the partnership of HITEC, the good spirit, the good work, and the community friendliness. It doesn’t matter what anybody with envy and jealousy say, you are our partners.”

Looking ahead, Umahi expressed confidence that President Tinubu’s infrastructure agenda will leave a lasting legacy for generations of Nigerians. “And under President Bola Tinubu, this country shall be rebuilt. Every of this road that he’s constructing, for the next hundred years, maintenance free, we will not reconstruct it.”

Francis Nwaze, FIPMD
Senior Special Assistant to the Honourable Minister of Works (Media)
August 6, 2026
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