EFCC
Lagos Court Jails Two for ₦36.5m Theft
Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, on Tuesday, January 27, 2026, convicted and sentenced Obiesie Elyon Chukwugene and Afolabi Adebayo Olumuyiwa to one year imprisonment each for stealing ₦36,570,000 (Thirty-Six Million, Five Hundred and Seventy Thousand Naira).
The convicts were initially arraigned alongside a firm, D Velvetbox Agro Farm Limited, by the Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 2, on November 21, 2024, on a 15-count charge bordering on stealing.
Count one of the charge reads: “That you, Obiesie Elyon Chukwugene, being the Managing Director of D Velvetbox Agro Farm Limited, a company incorporated in Nigeria, on or about May 27, 2023, in Lagos, within the jurisdiction of this Honourable Court, dishonestly converted to your own use the sum of ₦5,000,000 belonging to Judith Okoli, by falsely representing to her that the money was for investment in poultry farming, whereas you used the money to settle debts owed to other investors.”
Count two reads: “That you, Afolabi Adebayo Olumuyiwa, trading under the name and style of Triple J Farm, a registered business name in Nigeria, on or about March 31, 2023, in Lagos, within the jurisdiction of this Honourable Court, dishonestly converted to your own use the sum of ₦5,000,000 belonging to Judith Okoli, by falsely representing to her that the money was for investment in poultry farming, whereas you used the money to settle debts owed to other investors.”

The defendants initially pleaded not guilty to all the counts, prompting the prosecution to open its case.
During the trial, prosecution counsel, A. M. Dambuwa, called two witnesses and tendered several documents, which were admitted in evidence by the court.
However, during the proceedings, the defendants were re-arraigned on an amended two-count charge, to which they pleaded guilty.
Delivering judgment on Wednesday, Justice Oshodi held that the prosecution proved its case beyond reasonable doubt and found the defendants guilty as charged.
“I find the defendants guilty on the amended information and convict them accordingly. This is the judgment of the court,” the judge ruled.
The court consequently sentenced both convicts to one year imprisonment each, without an option of fine, with effect from November 21, 2024, the date they were remanded in custody.
The court also convicted D Velvetbox Agro Farm Limited, imposing a ₦1,000,000 fine, to be paid through the first convict, Chukwugene, who is the company’s Managing Director.
Justice Oshodi further ordered a joint restitution of ₦5,000,000 to be paid by both convicts within five months.
Additionally, the court ordered that the Toyota Camry recovered from the first convict be forfeited to the petitioner, Judith Okoli, and released to her or any person duly authorised by her.
The court held that the convicts fraudulently collected a total of ₦36,570,000 from the petitioner under the guise of poultry farming investment, but diverted the funds to settle personal debts owed to other investors.
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.


EFCC
₦2.7bn Fraud: Court Jails Former Banker for 39 Years
Justice O. O. Abike-Fadipe of the Special Offences Court sitting in Ikeja, Lagos, on Tuesday, October 27, 2026, sentenced a former banker, Christopher Jackson Edeh, to a total of 39 years’ imprisonment for his involvement in a ₦2.7 billion fraud prosecuted by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC).
Edeh, who was arraigned on February 28, 2024, faced nine counts bordering on fraudulent false accounting and unauthorised access to a computer system.
The charges alleged that he altered the bank account details of several customers and government-related entities, including the Kano State Government Power Intervention Fund, NNPC Trading Limited, Stallion Vision Ltd, the Lagos State Government Blue Line, the State Contributory Pension Account and Chukwuemeka Odumegwu Ojukwu University, with intent to defraud.
During the trial, prosecuting counsel, Z. B. Atiku, called three witnesses and tendered several documents in evidence to establish the case against the defendant. The defence, in turn, called one witness.
In her judgment, Justice Abike-Fadipe held that the prosecution had proved its case beyond reasonable doubt and consequently convicted Edeh on all nine counts.
The court sentenced him to five years’ imprisonment without an option of fine on each of counts one to seven, bordering on fraudulent false accounting, and two years’ imprisonment without an option of fine on each of counts eight and nine, relating to unauthorised access to a computer system with intent to facilitate the commission of crimes.
The court ordered that all the sentences run concurrently.
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