EFCC
EFCC Arraigns Three Over Alleged ₦10bn Fidelity Bank Fraud in Lagos
The Economic and Financial Crimes Commission (EFCC) has arraigned three men and another suspect currently at large before the Lagos State High Court sitting in Ikeja over an alleged ₦10 billion fraud involving Fidelity Bank Plc.
The defendants, identified as Ibeh Emmanuel, Chidiebere Ihekoronye, Akubuo Chimuanya, and Austen Peaks Aniekan, who is currently at large, were brought before Justice Olubusola A. Okunuga on Wednesday on a five-count charge bordering on conspiracy, obtaining by false pretence, possession of fraudulent documents, and forgery.
According to the EFCC, the defendants allegedly conspired to fraudulently obtain ₦10 billion from Fidelity Bank Plc through forged documents and false representations.
One of the charges alleged that on or about April 16, 2026, the defendants, with intent to defraud, conspired among themselves to obtain the sum of ₦10 billion from Fidelity Bank Plc by falsely claiming that Maton Engineering Limited, which maintains account number 4011468821 with the bank, had issued an irrevocable standing order directing the reservation, blocking, and transfer of the funds in favour of Prospera Finance Limited, domiciled with Wema Bank Plc.
The anti-graft agency stated that the representation was false and that the defendants were fully aware of its falsity at the time it was made.
The commission further alleged that the defendants attempted to obtain the said amount based on the same purported instruction and false representation.
According to the charge, the alleged offences contravene Sections 1(1)(a), 8(a), and 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
The EFCC also accused Emmanuel of being in possession of a document purportedly issued by Fidelity Bank Plc confirming the existence of blocked funds amounting to ₦10 billion in favour of Prospera Finance Limited, which he allegedly knew to be false.
In addition, the defendants were accused of forging a document titled, “Confirmation of Ten Billion Naira (₦10,000,000,000.00) Blocked Funds in Favour of Prospera Finance Limited,” purportedly emanating from Fidelity Bank Plc.
The commission alleged that the document was knowingly fabricated without lawful authority, contrary to Section 365(1) of the Criminal Law of Lagos State, 2015.
When the charges were read to them, the defendants pleaded not guilty.
Following their plea, prosecution counsel, A.A. Usman, urged the court to fix a date for trial and requested that the defendants be remanded in a correctional facility pending the determination of their bail applications.
Justice Okunuga subsequently ordered that the defendants be remanded at the Ikoyi Correctional Centre and adjourned the matter until June 18, 2026, for the hearing of their bail applications and the commencement of trial.
The EFCC stated that investigations into the alleged fraud are ongoing, while efforts are being intensified to apprehend the fourth defendant, Aniekan, who remains at large.
EFCC
Alleged $1.3m, N746.7m Fraud: Court Dismisses Sadiya Farouq’s Application to Set Aside Warrant of Arrest
Justice Jude Onwuegbuzie of the Federal Capital Territory High Court, sitting in Apo, Abuja, on Monday, June 15, 2026, dismissed an application filed by counsel to a former Minister of Humanitarian Affairs, Sadiya Umar Farouq, seeking to set aside the bench warrant and warrant of arrest issued against her.
Farouq, alongside two others — Bashir Nura Alkali and Sani Nafiu Mohammed — is to face prosecution by the Economic and Financial Crimes Commission (EFCC) over alleged criminal conspiracy, abuse of office, and diversion of public funds amounting to $1.3 million and N746.7 million.
Delivering his ruling on Monday, the judge held that the defendant had willfully failed to appear in court without a valid reason, maintaining that the law empowers the court to issue a bench warrant once it is established that a defendant is absent without justification.
“The defendant, who is fully aware that this is a criminal proceeding, has willfully failed to appear in court without a valid reason, and the law empowers the court, when it has been ascertained that the defendant is absent without a valid reason, to issue a bench warrant of arrest. There is nothing in the exhibit explaining why the defendant, who has mere arthritis and heart disease, cannot appear before the court. Is it that there are no medical facilities in Nigeria? I am convinced that the 1st defendant is trying to hide behind her fingers by raising bogus excuses. It is important that the applicant be reminded that this is a criminal matter and not a civil one, and there is an approach to its proceedings. By all legal considerations, I am of the opinion that there is no merit in this application. I so hold,” he said.
Reacting to the ruling, counsel to the prosecution, Rotimi Jacobs, SAN, commended the judge for what he described as a well-considered ruling. He further reminded the court of the undertaking by defence counsel, A.A. Ibrahim, SAN, to produce the first defendant, urging the court to enforce the undertaking.
“My Lord, for a senior counsel to make an undertaking which is reflected in Your Lordship’s ruling, we crave that Your Lordship give effect to that undertaking by A.A. Ibrahim, SAN, to produce the defendant. If you look at the so-called medical report attached, it only requested a period of six to eight weeks, within which the defendant would not be arrested, and the eight weeks expired on June 9, 2026. I plead with Your Lordship that the court should not take the undertaking for granted. On our part, we have decided to give effect to the arrest of the first defendant, and we also ask counsel to the first defendant to cooperate and produce his client at the next adjournment to avoid coercive measures,” he said.
Responding, A.M. Lawal, who stood in for A.A. Ibrahim, SAN, urged the judge to allow Ibrahim to be present in court to respond to the EFCC’s application regarding the undertaking.
Justice Onwuegbuzie granted the request, stating that Ibrahim should be allowed to appear in court to defend himself on the issue of the undertaking.
The matter was adjourned to July 2, 2026, for arraignment.
EFCC
Ishaku’s Alleged N27bn Fraud: How I Disbursed Local Government Funds on Orders of Ex-Governor’s Appointees — Witness
The trial of a former governor of Taraba State, Darius Dickson Ishaku, and a former Permanent Secretary in the Bureau for Local Government and Chieftaincy Affairs in the state, Bello Yero, continued on Monday, June 15, 2026, before Justice S.C. Oriji of the Federal Capital Territory High Court, Maitama, Abuja, with the Third Prosecution Witness, PW3, Taiwo Johns, informing the court that money from local governments in the state was paid into his private account on the instruction of Yero and other officials of the Bureau for Local Government and Chieftaincy Affairs for disbursement.
He further informed the court that he usually withdrew the money in cash.
Ishaku, the first defendant, is being prosecuted by the Economic and Financial Crimes Commission (EFCC), alongside Yero, on a 15-count charge bordering on criminal breach of trust, conspiracy, and conversion of public funds amounting to N27 billion.
Speaking on how the EFCC invited him and traced the alleged funds to the account of his company, P3 International Account, the witness stated that he had used the company account to manage his farming business before joining the civil service as an Assistant Cashier in the state’s Bureau for Local Government and Chieftaincy Affairs.
He further disclosed that John Columba, former Chief Cashier; Babangida Hassan, former Director of Finance; and former Permanent Secretary, Bello Yero, instructed him, in the course of his duties, to provide his account details and await instructions on how to disburse any funds paid into the account.
“They asked me to submit my account number so that some money could be sent to me and instructed me to await further directions on what to do with the money. A few days later, some money was sent to the account by the local government. When the money entered my account, I reported to my chief cashier, John Columba, before reporting to Babangida Hassan, who in turn reported to Bello Yero before I was directed on where to pay the money,” he said.
When asked by prosecution counsel, Rotimi Jacobs, SAN, how he disbursed the funds, the witness stated:
“Sometimes, when money comes into the account, I withdraw it or leave it in the bank and wait for further instruction. At times, I am given an account number into which the money should be paid, while on some occasions, Lawal, P.A. to His Excellency, comes and I hand the money over to him.”
He further testified that:
“Sometimes the instruction is given by the Permanent Secretary, Alhaji Yero, the second defendant; the Director of Finance, Babangida Hassan; and sometimes by the cashier of the local government who lodges the money into my account, after which I report to my immediate boss.”
He also informed the court that he was often given account numbers for the disbursement of funds. He disclosed that N3 million from funds received from a local government on November 20, 2017, was paid to the Second Prosecution Witness, PW2, Prince Onwuzuruike, alongside an additional N2,250,000, bringing the total amount paid to N5,250,000 in one day, based on instructions.
He further disclosed that he received N7,750,000 on February 6, 2018, and was instructed to transfer N6,250,000 to Onwuzuruike.
According to him, on April 11, 2018, Columba, the Chief Cashier of the local government, paid sums of N5 million, N1.7 million, and N1.8 million into his account, respectively, and that a cash withdrawal was made on April 16, 2018, based on the instruction of the Director of Finance, Babangida Hassan.
He further testified that he received a credit of N4,767,386.41 on April 26, 2018, and on the same date, transferred N4,780,000 and N3,220,000 to Prince Onwuzuruike. He added that there were further cash deposits of N5,650,000 and N4,500,000 on April 27, 2018, with instructions to transfer N4,780,000 and N3,370,000 to Onwuzuruike.
Justice Oriji adjourned the matter until July 7, 2026, for continuation of trial.
EFCC
Olukoyede Cautions Nigerians Against Vote Buying, Money Politics
Ahead of the 2027 general elections, the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has called on Nigerians from all walks of life to work collaboratively toward ensuring peaceful, credible, and transparent elections, warning that vote buying and other forms of financial inducement remain major threats to democratic governance.
Olukoyede made the call in Ilorin, Kwara State, on Wednesday, June 10, 2026, while delivering the inaugural lecture of the High-Level Guest Speakers’ Series organised by the Centre for Peace and Strategic Studies (CPSS), University of Ilorin. The lecture was themed: “Mobilising Critical Stakeholders for Setting the Agenda for Peaceful and Credible 2027 Elections in Nigeria.”
The EFCC Chairman stressed that the Commission remained firmly committed to combating the monetisation of the electoral process, describing vote buying, vote selling, and other forms of financial influence as practices that undermine democracy and good governance.
He pointed out that political leaders who secure office through financial inducement are more likely to focus on recovering their investments rather than serving the public interest.
“The EFCC is opposed to the commercialisation of votes not only because it is a financial crime, but also because it weakens the foundation of good governance by compromising the political recruitment process. Leaders who pay their way into public office are unlikely to prioritise the public good and accountability. Rather, recouping their investments becomes the overarching objective, to the detriment of the common good,” he said.
He disclosed that the EFCC had recorded several arrests, prosecutions, and convictions of electoral offenders in recent years, including politicians, electoral officials, and citizens involved in vote-buying schemes. He assured Nigerians that the Commission would intensify efforts ahead of the 2027 general elections, stressing that vote buying remains a financial crime that would be prosecuted without fear or favour.
On electoral corruption, the EFCC boss stated that it had become increasingly sophisticated, with perpetrators now deploying covert methods, coded communications, and off-site arrangements to influence voters.
“Vote buying manifests not just through financial inducement of voters but also through material and commodity offers. Investigations indicate that some of these criminal activities are no longer being carried out in the open. They are not even being done on election days. Codes are being used covertly. Linkages are being established with voters outside the electoral framework, all in a bid to influence them to follow fraudulent routes. We are aware of all these antics and are prepared to safeguard the integrity of our elections,” he said.
The anti-graft czar identified stronger collaboration among stakeholders, enforcement of electoral laws, issue-based campaigns, media responsibility, impartial security operations, and effective conflict-resolution mechanisms as critical ingredients for credible elections.
He urged political parties to build consensus around decency in campaigns and collectively reject vote buying, noting that inflammatory rhetoric and divisive politics had contributed to electoral violence in previous election cycles.
Olukoyede also challenged the media to play a more proactive role in exposing electoral corruption, particularly vote-buying networks, while urging security agencies to maintain professionalism and neutrality throughout the electoral process. He maintained that proactive and coordinated security arrangements would significantly reduce electoral risks and enhance public confidence in the democratic process.
Earlier, the Director of CPSS, G. A. Animasawun, said the lecture series was conceived to provide a strategic platform for stakeholders to identify and address threats to Nigeria’s democratic process ahead of the 2027 elections. He noted that the Centre was determined to move beyond academic discourse by fostering practical solutions capable of strengthening electoral integrity, peace, and national security.
In his welcome address, the Vice-Chancellor of the University, Wahab Olasupo Egbewole, SAN, described electoral corruption as a major national security threat and called for stronger institutional collaboration to prevent electoral malpractice.
He commended the EFCC under Olukoyede’s leadership for adopting a preventive approach to electoral corruption and proposed a strategic partnership between the Commission and the CPSS to deepen research, training, and policy development on the nexus between electoral corruption and national security.
The event drew participants from the electoral management body, security agencies, civil society organisations, academia, the media, and other key stakeholders committed to strengthening Nigeria’s democratic institutions ahead of the 2027 general elections.
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