The Economic and Financial Crimes Commission (EFCC) has arraigned a legal practitioner, Alexander Uchenna Ozougwu, before the Federal High Court in Uyo, Akwa Ibom State, over alleged involvement in a N1.3 billion forex investment fraud. According to a statement by Dele Oyewale, EFCC’s Head of Media & Publicity, the accused was charged with six counts relating to money laundering and obtaining money under false pretenses. The charges stem from claims that Ozougwu operated a bogus foreign exchange investment scheme, misleading investors and diverting funds. The EFCC alleges that between July and September 2024, Ozougwu acquired over N1.3 billion through fraudulent means. One charge specifies that he collected N268,850,000 through an account named Starlight Attorneys, funds suspected to be proceeds of unlawful activities. Another charge highlights a transaction involving N213,000,000 in July 2024, similarly funneled through the same account. When the charges were read, Ozougwu pleaded not guilty. The prosecution, led by Joshua O. Abolarin, requested the defendant’s remand in a correctional facility and a trial date. Meanwhile, the defense counsel, C. M. Onuchukwu, applied for bail on self-recognizance, assuring the court of the defendant’s availability for future proceedings. Presiding Judge, Justice Sergius Onah, granted bail set at N500 million, with two sureties of grade level 12 or higher in the civil service, who must own landed properties within the court’s jurisdiction. Additionally, the defendant was required to submit his international passport and two passport-sized photographs. Details of the Fraudulent Scheme Investigations revealed that Ozougwu posed as a registered Bureau de Change operator, convincing victims to share access to their betting accounts under the pretense of funding them. However, instead of fulfilling his promises, he reportedly diverted over N1.3 billion into personal and betting accounts. The EFCC launched the investigation after receiving complaints from four petitioners who suffered financial losses. The commission’s probe confirmed that the funds were funneled into various betting platforms under a Ponzi-like structure, ultimately leading to the massive fraud. Justice Onah adjourned the case until March 31, 2025, for trial continuation. For more on Nigeria’s latest fraud cases and anti-corruption efforts, visit the EFCC’s official website. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
The Economic and Financial Crimes Commission (EFCC) has officially withdrawn the arrest warrant issued against Ezekiel Onyedikachi, the manager of renowned gospel artist Mercy Chinwo. Justice Alexander Owoeye had initially issued the bench warrant last week based on an ex parte application submitted by the EFCC. However, the commission, represented by its counsel, Bilikisu Buhari, requested the court to revoke the order, leading to the withdrawal of the warrant. While the details of the initial charges remain undisclosed, the latest development brings relief to Onyedikachi and his team. Conclusion: This news highlights the latest updates from the Nigerian legal scene involving prominent figures in the gospel music industry. Stay tuned for more developments on similar stories. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
Kindly Share:
Justice Maryann Anenih of the Federal Capital Territory High Court in Maitama, Abuja, has postponed the arraignment of former Kogi State Governor Yahaya Bello to November 27, 2024, following new 16-count charges filed by the Economic and Financial Crimes Commission (EFCC). Bello, along with Shuabu Oricha and Abdulsalami Hudu, is facing charges related to criminal breach of trust and conspiracy involving N110.4 billion. During the session, EFCC counsel Jamiu Agoro requested a delay to ensure Bello’s presence, noting that the 30-day court-issued summons, starting from October 3, was still valid. Previously, the court ordered a public summons for Bello’s appearance, to be published in a widely read newspaper and displayed at his last known address and around the court premises. Agoro also requested an extension and permission to post a hearing notice at Bello’s last known address, emphasizing that proceeding before the expiration of the summons would be inappropriate. Meanwhile, Bello’s co-defendants, Oricha and Hudu, have received administrative bail from the EFCC. Aliyu Saiki, SAN, representing the 2nd defendant, confirmed the bail and supported the adjournment. ZE Abass, counsel for the 3rd defendant, also agreed. READ ALSO: The EFCC prosecutor mentioned that both sides had agreed to reconvene on November 27, as November 20 was not suitable. Justice Anenih approved the adjournment and the posting of the hearing notice, stating, “I have considered the application for adjournment by the complainant, the issuance of a hearing notice, and the submissions from the 2nd and 3rd defendants. The application is granted.”
