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EFCC Docks Man for Alleged N26.6bn Investment Fraud in Lagos

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By Gom Mirian, Abuja

The Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, on Friday, January 21, 2022, arraigned one Funmi Adenmosun before Justice Daniel Osiagor of the Federal High Court sitting in Ikoyi, Lagos on a 10-count charge bordering on  conspiracy and money laundering to the tune of N26, 600, 000,000( Twenty-six Billion Six Hundred Million Naira).

He was arraigned alongside two companies, Home Trust Savings and Loan Limited, and Rare Properties and Development Limited.

One of the counts reads: “That you, Funmi Adenmosun and Home Trust Savings and Loan Limited, and Rare Properties and Development Limited, sometime in 2007 in Lagos, within the jurisdiction of this Honourable Court,  conspired among yourselves to convert  the total sum of N26, 600,000.

000( Twenty-six Million, Six Hundred Million Naira), which sum you reasonably ought to have known form part of proceeds of fraudulent conversion of proceeds of private placement raised from the public in the name of Investment & Allied Assurance Plc and you thereby committed an offence contrary to Section 18(a) of the Money Laundering Prohibition Act 2011 as amended, and punishable under Section 15(2) of the same Act.”

Another count reads: “That you, Funmi Adenmosun and Home Trust Savings and Loan Limited,on or about the 8th day of November 2007 in Lagos, within the jurisdiction of this Honourable Court, indirectly transferred the sum of N450,000,000.00( Four Hundred and Fifty Million Naira) to Rare Properties and Development Limited , which sum you reasonably ought to have known form part of the proceeds of fraudulent conversion of the funds raised from the subscribers to the private placement   conducted in the name of Investment & Allied Assurance Plc and you thereby committed an offence contrary to Section 15(2) (b) of the Money Laundering Prohibition Act, 2011 as amended, and punishable under Section 15(2) of the same Act.”

He pleaded not guilty to the charge when it was read to him.

In view of his plea, the prosecution counsel, Rotimi Oyedepo, asked for a trial date and also prayed the Court to remand the defendant in a Correctional Centre.

However, counsel to the defendant, Wale Adesokan, SAN, informed the court that a bail application dated January 13, 2022 had been filed and served on the prosecution.

He urged the Court to admit the defendant to bail, assuring that “he will always attend to his case.”

 Justice Osiagor granted the defendant bail in the sum of N250m, with two sureties.

One of the sureties must be a Grade Level 15 officer either in the Federal or State Ministry, while the other must be a blood relation of the defendant.

The Judge further directed that the defendant be remanded in the EFCC custody pending the perfection of his bail terms.

The case was adjourned till March 3 and 4, 2022 for hearing.

In a related development, the Lagos Zonal Command of the Commission, on Friday, January 21, 2022 , secured the conviction and sentencing of one Raji Olasunkanmi to one year imprisonment for possession of fraudulent documents used to perpetrate internet fraud before Justice Mojisola Dada of  the Special Offences Court sitting in Ikeja, Lagos.

 Operatives of the Commission, acting on the intelligence, had arrested him along with some other suspected internet fraudsters on August 13, 2021 around the Iju-Ishaga area of Lagos.

 Following further investigation, he was brought to court and charged with one-count amended charge bordering on possession of fraudulent documents.

 He pleaded “guilty” to the amended charge.

 The prosecuting counsel, Ebareotu Pereagbe, thereafter, informed the Court of a plea bargain agreement between the prosecution and the defence, which was also before the Court.

 “We urge the Court to adopt the same,” he said, as he went on to review the facts of the case.

 According to him, an iPhone 8 was found on the defendant, which upon analysis indicated that the defendant was engaged in internet fraud.

 “Upon interrogation, he admitted that he had benefitted the sum of $1,300 from his victims,” Pereagbe added.

 Subsequently, he tendered as exhibits the defendant’s statement to the EFCC, the documents printed out of his device, and a manager’s cheque of N280, 000 issued by the defendant as part of the plea bargain.

 The documents were admitted by the Court as Exhibit P to P3.

 Thereafter, defence counsel, Pentecost Chukwunalu, prayed the Court to temper justice with mercy.

 Consequently, Justice Dada pronounced him guilty as charged and sentenced him to one year in prison.

 He was, however, given an option of N1million fine.

 The items recovered from him were ordered forfeited to the Federal Government.

 Upon release from prison, he is to sign a written undertaking not to be involved in crime.

CRIME

Delta Police Arrest School Bus Driver over Minor’s Kidnapping, Assault

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A 28-year-old school bus driver, Onome Ughagha, has been arrested by operatives of the Delta State Police Command for allegedly kidnapping and sexually assaulting a 14-year-old female student in Sapele.

The suspect allegedly demanded and collected ₦503,000 in ransom from the student’s father before abandoning her along Oton Road, Sapele.

The command’s Police Public Relations Officer, Bright Edafe, disclosed this in a statement in Warri on Sunday.

According to Edafe, the incident was reported at the Sapele Area Command on October 20, 2026, by the victim’s father, who alleged that the suspect abducted his daughter while she was preparing to leave for school.

“The suspect subsequently contacted him (the father), demanded ₦503,000 and threatened to kill the minor if the ransom was not paid,” the statement added.

The police said the girl was abandoned along Oton Road after the ransom was paid and later reunited with her family in a traumatised condition, with indications that she had been sexually assaulted.

Following the report, operatives of the Sapele Area Command commenced an investigation, while the victim was taken to a medical facility for examination and treatment.

The school principal and vice-principal were also invited for questioning as the police intensified efforts to apprehend the suspect, who had reportedly abandoned the school bus and fled.

Edafe said the operatives, acting on credible intelligence, traced Ughagha to his hideout in the Ajimele area of Sapele, where he was arrested on October 23, 2026.

The suspect reportedly confessed to his involvement in the crime during preliminary interrogation.

The police spokesman added that arrangements were being made to transfer him to the State Criminal Investigation Department in Asaba for further investigation.

Meanwhile, the state Commissioner of Police, Samuel Erale, condemned the incident and reiterated the command’s commitment to protecting children from all forms of violence and exploitation.

The commissioner assured that “investigations will be thorough and that anyone found culpable will be brought to justice”.

He also urged school authorities, parents and transport operators to “exercise greater vigilance in safeguarding children”, stressing that the safety of every child entrusted to their care must remain paramount.

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CRIME

Enugu CP Orders investigation into Man’s Death During Police Operation

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From Sylvia Udegbunam Enugu 

The Commissioner of Police, Enugu State Command, CP Mamman Bitrus Giwa, has ordered a thorough investigation into the circumstances surrounding the death of Nnaji Izuchukwu (male) during an intelligence-led operation by operatives of the Anti-Cultism Section of the Violent Crime Response Unit (VCRU).

 

In a statement by the Police Public Relations Oficer, Enugu State command, Daniel Ndukwe said that the CP has directed the Assistant Commissioner of Police in charge of the State Intelligence Department (SID) to establish the facts of the incident and determine whether the operation and use of firearms complied with established operational standards and extant laws.

Preliminary findings indicate that operatives, acting on credible intelligence, raided Bull Hotel, Asata, Enugu, where Nworie Chidera Kelvin, a.k.a. “Akidi,” an alleged notorious drug peddler and Vikings Confraternity member, was lodged with associates. Akidi is reportedly linked to multiple cases involving unlawful firearm possession and cultism, including one in which he was charged in absentia. 

He was also suspected of keeping the gang’s firearms and other criminal tools. The operation led to the arrest of Akidi and nine other suspects, comprising males and females aged 17–28. Quantities of dried weeds suspected to be “loud” cannabis, a weighing scale suspected to be used for measuring illicit drugs, and ₦43,400 in various denominations were recovered.

During the operation, Nnaji and another suspect jumped through a window in an attempt to escape. While pursuing them, an operative was confronted by both suspects, who allegedly attempted to disarm him. In the ensuing struggle, the firearm discharged, leaving Nnaji with gunshot injuries, while the other suspect escaped. Nnaji was rushed to hospital, where he was later confirmed dead. His remains have been deposited in a mortuary for preservation and autopsy.

CP Giwa has urged the deceased’s family, associates and other concerned persons to remain calm, assuring them that the circumstances surrounding the incident will be thoroughly investigated and that any officer found culpable will face appropriate disciplinary action. He reiterated that professionalism, ethical conduct and strict adherence to operational standards, particularly those governing the use of firearms, must never be compromised in any police operation.

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CRIME

Police Officer Shoots Female Colleague to Death, Kills Self in Kogi

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From Joseph Amedu, Lokoja 

Kogi State Police Command has confirmed a tragic incident that claimed the lives of two police officers in Ajaokuta Local Government Area after a male officer allegedly shot his female colleague, before turning gun to shoot himself.

A statement issued by the Police Public Relations Officer, Aliu Afusat, an Assistant Superintendent of Police(ASP), on Sunday, said the Command was investigating the fatal shooting at ASCO Camp, Ajaokuta, on October 23, in which two serving police officers died.

According to the statement, “the incident was reported at 11:04 p.

m., and the Divisional Police Officer, Ajaokuta, led a team of police officcers to the scene.

“Preliminary findings indicate that Corporal Amos Yusuf, who was on night duty, shot Woman Corporal Grace Onimisi and thereafter shot himself. Both officers were taken to separate medical facilities, where they were confirmed dead by medical personnel. Their remains have been deposited at the mortuary of ASCO Hospital.

“An AK-47 rifle and four expended cartridges were recovered at the scene as exhibits.

“The case has been transferred to the State Criminal Investigation Department (SCID) for in-depth investigation. The circumstances and motive remain subjects of investigation, and the Command will not speculate on matters yet to be established.

“The Commissioner of Police, CP Naziru Bello Kankarofi, psc, mni, extends his condolences to the families, colleagues and loved ones of the deceased officers over this tragic incident. The Command will provide verified updates as appropriate” the statement said.

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