• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
    • Government
  • Security
  • Features
  • State
  • Event
    • PR Nigeria Award
  • E-Paper
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
    • NAHCON

      Renewed Hope in Hajj Operations: NAHCON Records Milestone Achievements Under Tinubu…

      Mohammed Idris Malagi, Honorable Minister of Information and National Orientation

      FG Reaffirms Non-Interference in ICPC, EFCC Operations

      ICPC Secures Conviction of Rector for Running Unaccredited Degree Programmes

      Engr Abba Babagana Dalori

      Engr Dalori Forfeits Galaxy Hospital, Petrol Station, Properties & Cash

      Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

  • Fact-Check
  • Economy
    • FG, States, LGs Share N2.225trn Revenue for August – FAAC

      Nigeria Customs Aligns with Finance Ministry over 4% FOB Policy Review

      Members Board of Directors of Dangote Refinery

      Dangote Refinery Deploys 4,000 CNG Trucks, Promises 24,000 Jobs as Fuel…

      Renewed Hope in Central Banking

      Book Review: Renewed Hope in Central Banking – A Blueprint for…

      NAHCON

      Renewed Hope in Hajj Operations: NAHCON Records Milestone Achievements Under Tinubu…

  • National
    • Sowore vs DSS: Free Speech or Defamation? By Mohammed Bego Abdullahi

      NAF Air Strikes Kill Scores of Terrorists, Destroy Enclaves in Borno

      FG, States, LGs Share N2.225trn Revenue for August – FAAC

      Tinubu Lifts State of Emergency in Rivers, Reinstates Fubara, Legislators

      Crowned Prince Salman of Saudi Arabia

      Saudi Frees Nigerian Pilgrims Framed by Drug Syndicate

    • Government
      • Court Dismisses Suit Seeking to Bar ICPC from Probing Bauchi Security…

        Kano’s Corruption Storm: A Test of Media Ethics and Public Relations…

        Sowore vs DSS: Free Speech or Defamation? By Mohammed Bego Abdullahi

        FG, States, LGs Share N2.225trn Revenue for August – FAAC

        ICPC Secures Six-Year Jail Term for Sokoto River Basin Director

  • Security
    • NDLEA Logo

      NDLEA Hands Over Intercepted 60 Cartons of Pregabalin to NAFDAC in…

      Police Officer

      Imo Police Raid IPOB/ESN Hideout, Arrest 18 Suspects, Recover Arms

      Troops Raid Illegal Arms Factory in Plateau, Arrest Suspect, Recover Weapons

      NAF Air Strikes Kill Scores of Terrorists, Destroy Enclaves in Borno

      ICPC Secures Six-Year Jail Term for Sokoto River Basin Director

  • Features
    • Kano’s Corruption Storm: A Test of Media Ethics and Public Relations…

      Sowore vs DSS: Free Speech or Defamation? By Mohammed Bego Abdullahi

      A Group of Terrorists/Bandits

      Nigeria Fights Back Against Banditry and Insecurity By Senator Iroegbu

      A Group of Terrorists/Bandits

      Nigeria Fights Back Against Banditry and Insecurity

      Engr. Suleiman Bolakale Kawu Agaka

      Engr. Kawu: A Heroic Homecoming for a Man of the People…

  • State
    • Court Dismisses Suit Seeking to Bar ICPC from Probing Bauchi Security…

      NDLEA Logo

      NDLEA Hands Over Intercepted 60 Cartons of Pregabalin to NAFDAC in…

      Police Officer

      Imo Police Raid IPOB/ESN Hideout, Arrest 18 Suspects, Recover Arms

      Kano’s Corruption Storm: A Test of Media Ethics and Public Relations…

      ICPC Secures Six-Year Jail Term for Sokoto River Basin Director

  • Event
    • Chairman NAHCON Professor Abdullahi Saleh Usman meets with Katsina State Governor Dikko Radda

      NAHCON Boss Meets Katsina Governor, Pushes for Early 2026 Hajj Payments,…

      Flier for the programs that happened for the elderly by members of BUKAA FCT

      BUKAA FCT Appreciates Sponsors after Aerobics, Football Exercises

      Prof. Abubakar Mu’azu

      UNIMAID appoints Prof. Mu’azu as Pioneer Dean, Faculty of Communication

      NIPR President Ike Neliaku

      NIPR Inducts 422 New Members, Urges Commitment to National Unity

      Baze University Management visits TETFUND, Showcases Tech-Driven Growth, National Impact

    • PR Nigeria Award
  • E-Paper
Home Anti-Corruption N26.6bn Investment Fraud: Defendant Remanded in Ikoyi Prison
  • Anti-Corruption

N26.6bn Investment Fraud: Defendant Remanded in Ikoyi Prison

By
Wilson Uwujaren
-
March 4, 2022
EFCC
EFCC

N26.6bn Investment Fraud: Defendant Remanded in Ikoyi Prison

Justice Daniel Osiagor of the Federal High Court sitting in Ikoyi, Lagos, on Thursday, March 3, 2022, remanded one Funmi Adenmosun, who is being prosecuted for an alleged N26.6bn investment fraud, in the Nigerian Correctional Services, NCoS, Ikoyi, Lagos, for his inability to perfect his bail conditions.

The Lagos Zonal Command of Economic and Financial Crimes Commission, EFCC, had, on Friday, January 21, 2022, arraigned Adenmosun 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, had asked for a trial date and also prayed the Court to remand the defendant in the NCoS.

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

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

Consequently, Justice Osiagor had 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.

While adjourning the case to March 3, 2022( today), the Judge had further directed that the defendant be remanded in the EFCC custody pending the perfection of his bail conditions.

However, at today’s sitting, Adenmosun, through his counsel, Wale Adesokan, SAN, prayed the court to change his remand in the EFCC custody to Ikoyi Correctional Centre pending the perfection of his bail conditions.

Read Also:

  • Court Dismisses Suit Seeking to Bar ICPC from Probing Bauchi Security Votes
  • NDLEA Hands Over Intercepted 60 Cartons of Pregabalin to NAFDAC in Kano
  • Imo Police Raid IPOB/ESN Hideout, Arrest 18 Suspects, Recover Arms

Justice Osiagor granted his prayer and remanded him in the Ikoyi Correctional Centre.

The prosecution counsel, Sulaiman Sulaiman, told the court that the verification of documents presented by the sureties had not yet been concluded.

He also informed the court that he was ready to commence trial and that one of his witnesses was in court.

Justice Osiagor stopped the EFCC from continuing with the verification of the documents submitted by the sureties on the grounds that it had taken too long.

The Judge, who also observed that the prosecution had imposed conditions that were not in the original order made by the court, ordered the court to carry out the verification exercise.

Thereafter, the prosecution called its first witness, Segun Adesomoju, a Compliance Officer with First City Monument Bank Ltd (FCMB), who told the court that his bank received a letter from the EFCC requesting account details of the defendants.

However, when the prosecution sought to tender some of the account statements, Adesokan objected to their admissibility.

In view of this, Sulaiman urged the court to adjourn the case to enable him “to do what is needed.”

The case was adjourned to Friday, March 3, 2022 for continuation of trial.

….
Uyo Court Convicts Complainant for Misleading EFCC

Justice Agatha A. Okeke of the Federal High Court, Uyo on Thursday, March 3, 2022, convicted and sentenced one Idongesit Samuel Eyibio to two years imprisonment without the option of a fine.

Eyibio was charged to court by the Economic and Financial Crimes Commission, EFCC, on February 6, 2020, for misleading the Commission by concealing vital information through a petition on a matter which a competent court had decided.

The offence contravenes the provisions of Section 39(2)(a) of the EFCC Establishment Act 2004 and punishable under Section 39(2)(b) of the same Act.

Delivering judgment on Thursday, March 3, 2022, Justice Okeke said the prosecution had proven its case against the defendant beyond reasonable doubt, convicted and sentenced him accordingly.

Eyibio’s Journey to prison started in 2019 when he wrote a petition with a fictitious name, alleging a lottery fraud against one Aniete Ekan of Papi Events & Promotion Limited and Akwa Ibom States Government, without disclosing that there was an existing judgment against him, over the same matter.

Though Eyibio concealed the fact of the existing judgment, the Commission examined his allegation and informed him that the matter was civil in nature and unworthy of criminal investigation.

Unsatisfied with the response, the convict went on Brekete Family Radio, Abuja to castigate the EFCC for what he called the refusal of the Commission to investigate his petition.

The charge on which he was convicted reads: “That you Idonsgesit Samuel Eyibio on or about the 24th day of July, 2019 at Uyo within the jurisdiction of the Honourable Court, did make a statement to officers of the Economic and Financial Crimes Commission via a written petition addressed to the office of the said Commission which to your knowledge was intended to mislead the officers of the Commission in investigating the petition and thereby committed an offence contrary to Section 39(2)(a) of the Economic and Financial Crimes Commission Establishment Act 2004 and punishable under Section 39(2)(b) of the same Act”.

Wilson Uwujaren
Head, Media & Publicity
4 March, 2022

VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • efcc
  • FUNMI ADENMOSUN
  • HOME TRUST SAVINGS AND LOAN LIMITED
  • Idongesit Samuel Eyibio
Previous articleELECTORAL ACT 2022: X-Raying the Novel Provisions You Should Know, By Kaigama Mustapha
Next articleN66m Diversion: Court Fixes March 17 for Judgment in Ex-Air Chief Dikko Umar’s Case
Wilson Uwujaren
Wilson Uwujaren
Xing

RELATED ARTICLESMORE FROM AUTHOR

NAF Air Strikes Kill Scores of Terrorists, Destroy Enclaves in Borno

Tinubu Lifts State of Emergency in Rivers, Reinstates Fubara, Legislators

President Bola Ahmed Tinubu and Minister of Women Affairs Imaan Sulaiman-Ibrahim presenting a cheque to women

Renewed Hope Agenda: Group Passes Vote Of Confidence On Tinubu’s Minister, Imaan Sulaiman-Ibrahim

Omoyele Sowore and President Bola Ahmed Tinubu

Finally, DSS Files Charge Against Sowore, Twitter, and Facebook over Anti-Tinubu Post

NAHCON

Renewed Hope in Hajj Operations: NAHCON Records Milestone Achievements Under Tinubu Administration

Professor Isa Ali Ibrahim Pantami and Nafisa Abdullah Aminu

Global Winner Nafisa Visits Professor Isa Pantami

Omoyele Sowore, Bayo Ononuga and Adeola Ajayi

Sowore’s Provocation, Onanuga’s Plea and the DSS Overreach

Police Nab ‘Obi of Lagos,’ Foil ₦1.5 Billion New Palace Fraud

FACT-CHECK: Did Governor Uba Sani describe El-Rufai as “Godsent” who assisted him with various needs, including property acquisitions and even against Peter Obi?

The Arrest of Ansaru Kingpins Mahmud Muhammad Usman aka Abu Bara’a, and Mahmud al-Nigeri aka Mallam Mamuda

DSS Secures 15-Year Jail Term for Ansaru Leader Over Illegal Mining

Mrs Diiarau Didi Esther Walson-Jack OON mni, SEC 30, 2008, the new Head of the Civil Service of the Federation

Personnel Audit to End Guesswork in Civil Service Reforms – Walson-Jack

Nigerian Army Rescues Abducted Major in Delta State

Recent Posts

  • Court Dismisses Suit Seeking to Bar ICPC from Probing Bauchi Security Votes
  • NDLEA Hands Over Intercepted 60 Cartons of Pregabalin to NAFDAC in Kano
  • Imo Police Raid IPOB/ESN Hideout, Arrest 18 Suspects, Recover Arms
  • Kano’s Corruption Storm: A Test of Media Ethics and Public Relations By Umar Babangida
  • Troops Raid Illegal Arms Factory in Plateau, Arrest Suspect, Recover Weapons
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Court Dismisses Suit Seeking to Bar ICPC from Probing Bauchi Security VotesNDLEA Hands Over Intercepted 60 Cartons of Pregabalin to NAFDAC in KanoImo Police Raid IPOB/ESN Hideout, Arrest 18 Suspects, Recover ArmsKano’s Corruption Storm: A Test of Media Ethics and Public Relations By Umar BabangidaTroops Raid Illegal Arms Factory in Plateau, Arrest Suspect, Recover WeaponsSowore vs DSS: Free Speech or Defamation? By Mohammed Bego AbdullahiNAF Air Strikes Kill Scores of Terrorists, Destroy Enclaves in BornoFG, States, LGs Share N2.225trn Revenue for August – FAACICPC Secures Six-Year Jail Term for Sokoto River Basin DirectorNAHCON Boss Meets Katsina Governor, Pushes for Early 2026 Hajj Payments, Promises Easier ExerciseKaduna Police Arrest Two Suspects Over Illegal Possession of FirearmsTinubu Lifts State of Emergency in Rivers, Reinstates Fubara, LegislatorsBadaru Joins Global Leaders at Beijing Forum on Peace, SecuritySaudi Frees Nigerian Pilgrims Framed by Drug SyndicateTroops Ambush Bandits in Plateau, Neutralise One 
X whatsapp