EFCC
Court Orders Young Alhaji Foundation Promoter to Open Defence in Alleged ₦950m Fraud
The Special Offences Court sitting in Ikeja, Lagos, has dismissed the no-case submissions filed by Alhaji Usman Abubakar and Young Alhaji Foundation, holding that the Economic and Financial Crimes Commission (EFCC) established a prima facie case requiring the defendants to enter their defence in the alleged ₦950 million foreign exchange fraud.
Justice Mojisola Dada ruled that the prosecution had adduced sufficient evidence linking the defendants to the alleged offences and that they had a case to answer.
Abubakar and Young Alhaji Foundation are standing trial on a five-count charge bordering on obtaining money by false pretence and stealing the sum of ₦950 million belonging to Ano Farms Limited.
Opposing the no-case submissions, EFCC counsel, Bilkisu Buhari-Bala, urged the court to dismiss the applications, arguing that the prosecution had established all the essential ingredients of the offences through the testimony of five witnesses and several documentary exhibits.
Buhari-Bala told the court that the EFCC received a petition dated September 23, 2022, from Prag Attorneys and Consultants on behalf of Ano Farms Limited, alleging that the defendants fraudulently obtained ₦950 million from the company under the pretext of facilitating a foreign exchange transaction.
According to her, Ano Farms Limited required foreign exchange to import agricultural commodities and was introduced to one Dr. Abu Omer Fawzi, a Lebanese national, for the purchase of $1.25 million at an agreed exchange rate of ₦760 to one dollar.
She said Dr. Fawzi instructed Ano Farms Limited to transfer the naira equivalent of ₦950 million into the First Bank account of Young Alhaji Foundation. Although the transfer was successfully made, the agreed foreign exchange was never delivered.
Buhari-Bala further submitted that WhatsApp conversations tendered in evidence confirmed communications between Ano Farms Limited and Dr. Fawzi regarding the transaction, while bank records admitted before the court established that the ₦950 million was credited to the account of Young Alhaji Foundation despite the defendants’ denial.
The prosecutor argued that rather than provide the agreed foreign exchange, the defendants attempted to withdraw the funds even after the account had been placed under a court-ordered restriction.
She also contended that the defendants gave inconsistent explanations regarding the ownership and source of the ₦950 million. While denying knowledge of the transfer, the first defendant simultaneously claimed entitlement to the funds as part payment of an alleged debt owed to him.
According to Buhari-Bala, the contradictory explanations, coupled with the oral and documentary evidence presented by the prosecution, clearly established a prima facie case and warranted the defendants being called upon to open their defence.
Justice Dada agreed with the prosecution’s submissions and dismissed the no-case applications filed by both defendants.
The court consequently ordered Alhaji Usman Abubakar and Young Alhaji Foundation to enter their defence.
The case originated from a September 2022 transaction in which Ano Farms Limited transferred ₦950 million into the account of Young Alhaji Foundation in expectation of receiving $1.25 million for the importation of agricultural commodities.
Earlier in the trial, the prosecution’s first witness, Mr. Adeniyi Oyewole, Managing Director of Ano Farms Limited, testified that despite making the payment, the promised foreign exchange was never supplied.
He further told the court that when efforts were made to recall the funds, the recipient claimed the payment related to the purchase of property—an assertion Oyewole immediately denied.
Oyewole also testified that Abubakar later claimed the money represented part payment of a $12 million debt allegedly owed to him by another party, despite initially disclaiming knowledge of the transaction.
Following unsuccessful efforts to recover the funds, Ano Farms Limited petitioned the EFCC, culminating in an investigation and the filing of criminal charges against the defendants.
The matter has now entered the defence stage, with the defendants expected to present evidence in response to the prosecution’s case.
EFCC
EFCC Counsel Misquoted in ALGON Lawyer’s Fraud Allegation Judgment
The Economic and Financial Crimes Commission (EFCC) views with grave concern the misrepresentation of the reaction of its counsel, Larry Peters Aso, to the judgment delivered by Justice Suleiman Belgore of the Federal Capital Territory (FCT) High Court in a fundamental rights enforcement suit filed by legal practitioner Dr Ted Iseghoi-Edwards.
The judge reportedly cleared Iseghoi-Edwards of alleged fraud relating to services rendered to the nation’s 774 local government councils. He also disagreed with the EFCC’s position regarding its investigation report on the London-Paris Club refunds.
Reacting to the judgment, Aso thanked the judge for his industry in attending to the matter and stated that the EFCC would apply for a Certified True Copy (CTC) of the judgment “and study it to know the necessary steps to take.”
He did not make any statement about an EFCC report from 2024 concerning allegations that Iseghoi-Edwards “fraudulently obtained the judgments, because he instituted proceedings against the Federal Government in the United States.”
Additionally, claims that Aso said the report was prepared under pressure from higher authorities “after Iseghoi-Edwards assigned his promissory notes to third parties in the United States, where they threatened to sue the Federal Government” are entirely mischievous and amount to deliberate character assassination.
This framing was intended to insinuate that extraneous influences affected the matter, which was not the case.
The record of proceedings from Tuesday, October 20, 2026, when the judgment was delivered, can be accessed to verify Aso’s reaction.
The Commission urges the media to be more objective in reporting court proceedings in the interest of justice.
EFCC
FBI Commends Olukoyede, EFCC for Support in Tackling Sextortion, Cybercrime
The Federal Bureau of Investigation (FBI) has commended the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, and the Commission for their efforts and vital role in Operation Artemis, a joint international effort to disrupt financially motivated sextortion networks targeting minors.
The commendation was conveyed in a letter signed by FBI Director Kash Patel, who praised the Commission for its collaboration with the Bureau in the arrest and extradition of suspects facing federal charges in the United States.
In the letter addressed to Olukoyede, Patel acknowledged the Commission’s contribution to the operation, stating that “the Economic and Financial Crimes Commission, EFCC, has played a vital role in Operation Artemis, a joint effort focused on disrupting financially motivated sextortion rings targeting juveniles.”
He said that, under Olukoyede’s leadership, the EFCC designated personnel to support the investigations and facilitate the transfer of suspects from Nigeria to face prosecution in the United States.
Specifically, the FBI Director commended the EFCC for apprehending Adebola Festus Adekunle and Mudashiru Afeez Olawale, who were indicted in the United States in 2023 over allegations relating to the sexual exploitation and extortion of minors.
The two suspects were extradited to the United States in August 2026, with the EFCC facilitating the process following investigations and extradition proceedings. They are facing federal charges relating to sexual exploitation in cases involving the deaths of minors.
Patel noted that the successful outcome of the cases would not have been possible without the EFCC’s assistance and commitment to international law enforcement cooperation.
“The successful outcome of these cases would not have been possible without your assistance and dedication to international law enforcement collaboration,” he said.
The FBI Director further expressed appreciation to Olukoyede and the Commission for their commitment to justice and continued cooperation, while expressing optimism about strengthening the partnership between both agencies.
“Please accept my sincere appreciation for your commitment to justice and steadfast cooperation. I look forward to the continued partnership with the EFCC,” he stated in the letter.
The extradition of Adekunle and Olawale followed FBI investigations into separate sextortion schemes targeting male minors in the United States. The investigations linked the alleged activities to two teenage victims who died by suicide after being subjected to online sexual exploitation and extortion.
EFCC
EFCC Photo News
The Japanese Ambassador-Designate to Nigeria, His Excellency, Hideo Suzuki Paid a Courtesy Visit to the Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede in his office today, October 28, 2026. He was accompanied on the visit by First Secretary, Security, Yuji Murakami and Senior Information Analyst, Dogara Ankut.


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