Author: Staff Editor
The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 1, Ikoyi, on Thursday, July 2, 2026, re-arraigned Ajayi Edward Olushola and his company, Hola Jay Nigeria Limited. The Commission also arraigned Hannah Nwaguzor Ify and her company, Mozann Global Merchant Limited, before Justice Fadipe of the Lagos State High Court, Ikeja, over an alleged ₦1.07 billion fraud. The first and second defendants were re-arraigned on an amended four-count charge bordering on obtaining money by false pretence and stealing funds amounting to ₦1.07 billion. Ajayi Edward Olushola and Hola Jay Nigeria Limited had previously been arraigned before the court, with…
The 15th Prosecution Witness (PW15), Jim Osayande Obazee, in the trial of former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Friday, July 3, 2026, told Justice Hamza Muazu of the Federal Capital Territory (FCT) High Court, Abuja, that the alleged fraudulent withdrawal of $6.23 million earmarked for a foreign election observer mission for the 2023 general election pushed the CBN’s special dollar account for internal staff and Ministries, Departments and Agencies (MDAs) into a negative balance of ₦2,858,150,196.42. The Economic and Financial Crimes Commission (EFCC) is prosecuting Emefiele before Justice Muazu on an amended 20-count charge…
The second prosecution witness (PW2), Akeem Lasisi, in the trial of Ojobo Joshua and Aliyu Hashim before Justice J. O. Onwuegbuzie of the Federal Capital Territory (FCT) High Court, Apo, Abuja, on Wednesday, July 1, 2026, narrated how his team arrested the defendants, who allegedly impersonated officers of the Economic and Financial Crimes Commission (EFCC). Joshua, the first defendant, allegedly claimed to be the Personal Assistant to the Commission’s Executive Chairman, Ola Olukoyede, in a bid to defraud former Managing Director of the Nigerian Ports Authority (NPA), Mohammed Bello Koko, of $700,000. The EFCC is prosecuting Joshua and Hashim on…
The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 1, Ikoyi, on Monday, June 29, 2026, arraigned Abdulkarim Muhammad Arome and his company, Cresco Oil and Gas Limited, before Justice O. A. Okunuga of the Lagos State High Court sitting in Ikeja over an alleged ₦336,993,863.35 (Three Hundred and Thirty-Six Million, Nine Hundred and Ninety-Three Thousand, Eight Hundred and Sixty-Three Naira, Thirty-Five Kobo) fraud involving Lotus Bank. The defendants were arraigned on an amended three-count charge bordering on conspiracy, stealing and retention of proceeds of criminal conduct. According to the charges, the offences are contrary to Sections 409 and…
A Federal High Court sitting in Lagos, presided over by Justice Deinde Dipeolu, has encouraged the parties in a high-stakes ₦98.5 billion patent infringement suit involving Enterprise Logistics Speciale Limited, the Central Bank of Nigeria (CBN), Nigeria Inter-Bank Settlement System Plc (NIBSS), and Avanage Nigeria Limited to explore an amicable settlement before proceeding with the trial. Justice Dipeolu declined to commence hearing on Tuesday after observing that the 1st, 3rd, and 4th defendants were not represented by counsel. The plaintiffs, Enterprise Logistics Speciale Limited and its Managing Director, Samuel Kolajo, are seeking about ₦98.5 billion in damages over the alleged…
Justice Peter Lifu of the Federal High Court, Maitama, Abuja, on Wednesday, July 1, 2026, adjourned the trial of former Benue State Governor Gabriel Suswam until July 16, 2026, for the adoption of final written addresses, as the 11-year-old case enters its final stage. Suswam, alongside his former Commissioner for Finance, Omadachi Okolobia, is facing prosecution by the Economic and Financial Crimes Commission (EFCC) on an amended 11-count charge bordering on alleged theft, criminal breach of trust, illegal award of contracts, and money laundering involving ₦3.1 billion, being proceeds from the sale of the Benue State Government’s shares in Benue…
The Economic and Financial Crimes Commission (EFCC) on Monday, June 29, 2026, presented its third prosecution witness (PW3), Levi Amanda Opice, a Compliance Officer with Guaranty Trust Bank (GTBank), in the ongoing trial of Ifoma Immanuel before Justice Mojisola Dada of the Lagos State Special Offences Court, Ikeja, over an alleged $1.5 million fraud. Immanuel is standing trial alongside his company, Intermediate Investment Holdings Limited, on a two-count charge bordering on obtaining money by false pretence and forgery involving the sum of $1.5 million. According to the EFCC, investigations revealed that the defendant allegedly induced Adebisi Adebutu of R28 Holdings…
Residents in parts of Lagos State have been thrown into darkness after severe flooding disrupted operations at key electricity transmission facilities. The Transmission Company of Nigeria (TCN) on Wednesday declared a force majeure at the Oworonshoki 132/33kV and Lekki 330/132kV transmission substations following persistent rainfall that caused extensive flooding across parts of the state. In a statement issued by its General Manager of Public Affairs, Ndidi Mbah, the company disclosed that the Oworonshoki 132/33kV Transmission Substation has been completely shut down after floodwaters submerged critical equipment, affecting two power transformers. According to TCN, the affected transformers—TR1 (60MVA) and TR3 (30MVA)—tripped…
The Economic and Financial Crimes Commission (EFCC) has recovered over ₦38.66 billion in cash and assets as part of an ongoing investigation into the alleged diversion of funds earmarked for the rehabilitation and turnaround maintenance of Nigeria’s state-owned refineries, with several former and serving officials of the Nigerian National Petroleum Company Limited (NNPCL) and contractors now facing possible criminal prosecution. The anti-graft agency has so far recovered ₦9.4 billion, $21.2 million—equivalent to about ₦29.26 billion at the Central Bank of Nigeria’s official exchange rate of ₦1,380 to the dollar—as well as several landed properties allegedly traced to individuals under investigation.…
A decades-long marriage has descended into a bitter legal battle before the High Court of Lagos State, with Nnedimma Onyegbula, a Nigerian lawyer now based in the United States, accusing her husband, Sonny Onyegbula, an employee of MTN Nigeria, of subjecting her to years of physical violence, emotional abuse, infidelity, financial manipulation and intimidation. She also insists that she was the principal financier of the family throughout the marriage. The allegations are contained in the Petitioner’s Reply to the Respondent’s Answer to the Petition filed before the court in Suit No. LD/26404WD/2026, in which Mrs. Onyegbula responded point-by-point to her…