Abubakar was arraigned on a two-count charge bordering on retention of proceeds of a criminal activity to the tune of N1,098,976,008 (One Billion, Ninety-Eight Million, Nine Hundred and Seventy-six Thousand and Eight Naira).

Count one reads: “That you Mahmud A. Abubakar, between January 2024 and December 2024, within the jurisdiction of this Honourable Court did retain control of the proceeds of a criminal conduct totalling N795,360,000 (Seven Hundred and Ninety-five million, Three hundred and Sixty Thousand Naira) in your Access Bank with name Mahmud A. Abubakar and number 0057310017, which sum you knew that the same was derived from criminal conduct and thereby committed an offence contrary to Section 17(a) of the Economic and Financial Crimes Commission (Establishment) Act 2004 and punishable under Section 17(b) of the same Act.”

Count two reads: “That you Mahmud A. Abubakar, between January 2024 and December 2024, within the jurisdiction of this Honourable Court did transfer proceeds of a criminal conduct totalling N303,616,008 (Three Hundred and Three Million, Six Hundred and Sixteen Thousand Eight Naira) from your Access Bank with name Mahmud A. Abubakar and number 0057310017, to one Suleiman Umar which sum you knew that the same was derived from criminal conduct and thereby committed an offence contrary to Section 17(a) of the Economic and Financial Crimes Commission (Establishment) Act 2004 and punishable under Section 17(b) of the same Act.”

He pleaded “not guilty,” to the charges, prompting the prosecution counsel, Y.Y. Tarfa, to request a trial date and for the defendant to be remanded in a Correctional Centre, while the defence counsel, A. M. Aliyu, filed a bail application, which was not opposed by the prosecution counsel.

Justice Nwabulu granted the defendant bail with two sureties, both of whom must be Level 15 civil servants, with one required to be a landed property owner in the Federal Capital Territory, FCT.

The judge further ordered that the defendant be remanded in Kuje Correctional Centre, Abuja, pending the fulfilment of the bail conditions and adjourned the matter till September 30, 2026, for commencement of trial.

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Olawale and Adekunle had been identified in separate investigations by the Federal Bureau of Investigation, FBI, in sextortion schemes targeting male minors, particularly those between the ages of 13 and 17, leading to the deaths of two minors.

The schemes involved the use of Child Sexual Abuse Material, CSAM, to extort victims for money through various means, including money remitters, gift cards and cryptocurrency.

The FBI investigations linked the activities of the alleged perpetrators to two separate cases involving American minors, who died by suicide after being subjected to online sexual exploitation and extortion.

In one of the cases, a 13-year-old male victim received a direct message on Instagram from a subject who suggested an exchange of nude photographs.   Investigations by the FBI revealed that the subject subsequently threatened to disseminate the minor’s photographs to his Instagram contacts and demanded money from him.

It was further revealed that communications reportedly continued despite the minor indicating that he intended to take his own life.  The FBI subsequently developed actionable intelligence identifying individuals allegedly involved in the scheme and requested the assistance of the EFCC in identifying, investigating and prosecuting the perpetrators under applicable Nigerian laws.

Following investigations by the Commission, Adekunle was arrested and brought before the Commission.

In a similar vein, the FBI also sought the extradition of Olawale over a seven-count charge, including “sexual exploitation and attempted sexual exploitation of a minor resulting in death, enticement and attempted enticement of a minor to engage in sexual activity, interstate threatening communications, sexual exploitation and attempted sexual exploitation of a minor, and distribution and attempted distribution of child pornography.”

Consequently, the Commission initiated extradition proceedings against Olawale at the Federal High Court, Lagos Judicial Division, in Suit No. FHC/L/CS/353/2024, before Justice A. Lewis-Allagoa, following a request by the FBI.

Although the Judge refused the application during proceedings on June 10, 2024, the ruling was subsequently appealed by the Office of the Attorney-General of the Federation.

On July 7, 2026, the Court of Appeal, Lagos Division, in Appeal No. CA/LAG/CV/721/2024, set aside the judgment of the Federal High Court, thereby paving the way for Olawale’s extradition to the U.S.

The extradition of Olawale and Adekunle underscores the continued collaboration between the EFCC and the FBI in tackling transnational financial crimes, particularly internet-enabled crimes involving the exploitation of minors and sextortion.

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The development came when the State Coordinator of the NIMC Gombe State, Maryam Sarki Othman paid a courtesy visit to the Gombe Acting Zonal Director of the EFCC , Assistant Commander of the EFCC, ACEI Austine Adache in his office in Gombe State.

Othman said the the visit was aimed at strenthening the existing mutual partnership between her agency and the EFCC, particularly in the areas of identity verification and collaborative efforts to eradicate identity theft in Nigeria.

She assured the EFCC of her agency’s unrelented support in its fight against economic and financial crimes and other acts of corruption.

Responding, Adache commended the NIMC for its support over the years and expressed optimism that the collaboration between the two agencies would be taken a notch higher.u in

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The recovery followed a petition submitted by Prudent Energy and Services Limited, alleging that petroleum products entrusted to Ibafon Oil and Gas for storage had been unlawfully converted, resulting in a significant shortfall in the company’s stock.

The petitioner also alleged that periodic withdrawals were made from the stored products until the outstanding balance stood at 2,574,031 litres.

However, during a subsequent physical measurement and reconciliation exercise, only 206,761 litres remained in the storage tanks, leaving a deficit of 2,367,270 litres.

Investigation revealed that Ibafon Oil and Gas is involved in the purchase and sale of Automotive Gas Oil (AGO) and also stores its petroleum products at the same depot alongside products belonging to its customers.

It was further revealed that Ibru allegedly used his position as the owner of Ibafon Oil and Gas to truck out petroleum products in excess of the quantity owned by the company, thereby converting the petitioner’s products for his own use.

Following the Commission’s intervention, the suspect handed over the recovered products to the petitioner, Prudent Energy and Services Limited.

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The investigation commenced after  the handover  of the suspect and the undeclared currencies by the Acting Customs Area Comptroller of the Kano/Jigawa Command,  Deputy Comptroller U. U.  Adamu at the Customs Area Command in Kano.
The intercepted currencies, which exceeded the legally permitted threshold, were discovered during routine primary and secondary screenings of arriving passengers between August 8 and August 12, 2026.

The Acting Zonal Director of the EFCC,  Kano Directorate, Assistant Commander of the EFCC, ACE1 Friday S. Ebelo, received the suspect and the recovered funds on behalf of the Commission.
According to Adamu,  the Customs made two separate interceptions.
On August 8,  2026,  “at approximately 14:20 hours, officers conducting passenger screening at the baggage seat of MAKIA intercepted an unaccompanied Saudi Air luggage  containing 827,800 Saudi Riyals and $53,300  The currencies were found concealed inside a footwear.” Adamu stated.
Similarly, on  August 12, 2026 “at approximately 13:50 hours, officers of the Nigerian Custom Service also flagged a luggage belonging to one Mr. Haruna Yusuf, who arrived at MAKIA on board Ethiopian Airlines flight ET941. During secondary screening using Non-Intrusive Inspection Technology, $20,000 USD and £15,957  were found concealed inside sportswear shoes”, he said.
Adamu thereafter formally handed over the suspect, Mr. Haruna Yusuf, alongside all recovered exhibits to Ebelo for further investigation and prosecution.   He noted that the handover was in accordance with Section 4(f) of the NCS Act 2023, which empowers the Service to collaborate with other border regulatory agencies.
Adamu further explained that,  “these interceptions demonstrate the readiness and vigilance of our officers in detecting cross-border movement of undeclared foreign currencies above the allowed threshold.  The Command will continue to deploy technology, professional expertise, and intelligence-driven measures, including inter-agency collaboration to strengthen border controls and protect the integrity of Nigeria’s financial systems.”

Receiving the suspect and exhibits on behalf of the Executive Chairman of the EFCC, Mr. Ola Olukoyede,  Ebelo  expressed profound gratitude to the Customs Service for its  professionalism and cooperation with EFCC officers recently deployed to the airport.
“We must sustain this vigilance at all our entry points to counter the illegal movement of currency. The failure to declare large sums of currency and its equivalent is a violation of the Money Laundering (Prevention and Prohibition) Act, 2022,” he said.
He  urged the public to comply with the law, emphasizing that declaring currency attracts no penalty, only the source of undeclared funds may raise legal concerns.
“Once more, we call on the general public: as much as we are Nigerians and we encourage trade in and out of the country, people must adhere to the laws of the land. You must declare the currency you are carrying. If you declare it, nobody will seize your currency,” he said.
Ebelo reaffirmed the EFCC’s commitment to  thorough investigations and prosecution, stating that the Commission would continue to follow the law diligently
Both Ebelo and Adamu applauded the longstanding synergy between  the EFCC and NCS which has been critical to combating financial crimes and illegal cash movement across Nigeria’s borders.

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Count one reads: “That you Mahwash Benedict Luka while being the Managing Director of Bennicle Investment Limited on 29th day of November 2023 at Abuja within the jurisdiction of this Honourable court did issue a First City Monument Bank Plc Cheque with Cheque no 0024633617with the face value of N10,000,000 to First Bank Nigeria Plc, which when presented was dishonored due to insufficient funds and thereby committed an offence contrary to Section 1(1) of the Dishonored Cheques Act and punishable under Section 1(i) (ii) of the same Act.”

Count two reads: “That you Mahwash Benedict Luka while being the Managing Director of Bennicle Investment Limited on 29th day of August 2016 at Abuja within the jurisdiction of this Honorable court did issue Sterling Bank Plc Cheque with Cheque no 60911474 with the face value of N10,000,000.00 to First Bank Nigeria Limited, which when presented was dishonored due to insufficient funds and thereby committed an offence contrary to Section 1(1) of the Dishonored Cheques Act and punishable under Section 1(i) (i) of the same Act.”

The 1st defendant Mahwash Benedict Luka on behalf of himself and Bennicle Investment Nigeria Limited pleaded not guilty to the two counts preferred against them.

The matter was subsequently adjourned for hearing of the bail application

At the resumed sitting, on Friday, counsel to the defendants, I. Ashom, moved the bail application filed on behalf of the 1st defendant but informed the court that no separate bail application had been filed for the 2nd defendant. He, however, urged the court to exercise its discretion and grant bail to both defendants, noting that the 1st defendant is the Managing Director of the 2nd defendant company.

Justice Fashola granted bail to both defendants in the sum of N10 million (Ten Million Naira) with one surety who must be a person of reputable character with a verifiable address.
The matter was thereafter adjourned till October 22, 2026, for commencement of trial.

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The money, handed over in bank drafts, formed part of the funds recovered by the Commission in the course of an investigation into an alleged case of abuse of office, forgery, stealing and diversion involving two former employees of the company.

Investigation revealed that the suspects, Nkechi Gladys Megai, who is currently at large after fleeing to the United Kingdom, and Godson Eze, a former Chief Financial Officer, abused their positions by forging documents, creating fake invoices in the names of the company’s legitimate vendors, and diverting funds through fraudulent transactions carried out over a period of time.

The investigation also revealed that the fraudulent payments ran into several hundreds of millions of naira.

During the handover ceremony, the Acting Zonal Director of the Lagos Zonal Directorate 2 of the EFCC, Assistant Commander of the EFCC, ACE I Bawa Usman Kaltungo, reaffirmed the Commission’s commitment to ensuring that victims of economic and financial crimes obtain justice and, where possible, recover assets fraudulently obtained from them.

Kaltungo also disclosed that “efforts are ongoing to ensure that all persons connected with the fraud, including those who have fled the country, are brought to justice in accordance with the law.”

The company’s legal representatives, while receiving the bank drafts, expressed appreciation to the EFCC for its painstaking investigation, professionalism and commitment to recovering the stolen funds.

They also assured the Commission that the recovered money would go a long way towards mitigating the losses suffered by the company.

The post EFCC Hands Over N108m Recovered Funds to Greenwich Planet Sun King appeared first on Business Today NG.

The Notice of Appeal was filed on Friday, July 10, 2026 by counsel to the EFCC, Wahab Shittu, SAN.

In the appeal contained in Suit No: FCT/HC/CV/1199/2024, the EFCC expressed dissatisfaction with the “whole of the judgment of the High Court of the Federal Capital Territory, sitting at Maitama, Abuja, Coram: Hon. Justice Peter O. Kekemeke, delivered on the 8th day of July, 2026….”

Specifically, the appeal was hinged on 11 grounds and four different orders. The orders the Commission is seeking in the appeal, are orders allowing the appeal, setting aside the whole of the judgment, dismissing Agunloye’s claim before the trial court in entirety and any other order the court may deem fit to make in the circumstances of the appeal.

Justice Kekemeke had declared in his judgment that the EFCC’s publication on Agunloye was false, defamatory and injurious to the former Minister’s reputation and awarded N10 million in damages against the Commission.

Shittu, in the appeal, also filed a stay of execution of the judgment of the trial court.

No date has been fixed for the hearing of the appeal.

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The trouble began for the auto dealer following a petition from a buyer who claimed he paid Ogbonna the ₦15.4 million in October 2023 to assist him in importing three cars. Upon receiving the substantial sum, the defendant promised to deliver the vehicles on or before Christmas Day, December 25, 2023. However, instead of delivering the cars or returning the money, Ogbonna allegedly converted the funds to his personal use, leaving the buyer stranded.

The court charges detailed how the money was systematically diverted. Count one states that in September 2023, within the jurisdiction of the High Court of Enugu State, Ogbonna fraudulently converted ₦4,000,000 belonging to Mr. Paulson Nwakoby, which was meant for the vehicle purchase. Count two details another ₦4,000,000 fraudulently converted between November 28 and December 10, 2023. These actions violate Section 342 of the Criminal Code Law, Cap 30, Enugu State, and are punishable under Section 353 (1) of the same law.

Appearing in court, the defendant pleaded “not guilty” to all charges read to him. In view of the plea, EFCC counsel and Assistant Commander of the EFCC, ACE II Rotimi Ajobiewe, prayed the court for a definitive trial date and requested that the defendant be remanded in the custody of the Nigerian Correctional Service (NCoS) in Enugu. Justice Ezeugwu subsequently adjourned the matter to July 16, 2026, for the hearing of the bail application and ordered that Ogbonna be remanded at the EFCC’s holding facility in the interim.

The post How Enugu Auto Dealer Chukwuebuka Ogbonna Allegedly Pocketed ₦15.4m Meant for Importation appeared first on Business Today NG.

Bodejo faces a 12-count charge bordering on money laundering and operating outside established financial banking frameworks.

During Thursday’s court proceedings, prosecution counsel Wahab Shittu, SAN, introduced the 12-count charge application dated June 24, 2026, and filed on June 25, 2026. He requested that the court allow the defendant to take his plea, a motion that was granted by Justice Ekwo.

According to the charge sheet, the offenses involve significant physical cash transactions that bypassed statutory thresholds. Count one alleges that on January 11, 2022, in Abuja, Bodejo willfully and unlawfully accepted a physical cash payment of $100,000 from Sa’idu Abubakar, a former Accountant-General of Bauchi State who is currently in police custody. This transaction violated Section 1(a) of the Money Laundering (Prohibition) Act, 2011 (as amended), by exceeding the statutory cash transaction limit of ₦5,000,000 without passing through a financial institution.

Similarly, count four of the charge states that on February 7, 2024, Bodejo accepted another physical cash payment of $980,000 from the same former Bauchi State Accountant-General, breaching Section 2(1)(a) of the Money Laundering (Prevention and Prohibition) Act, 2022.

Bodejo pleaded “not guilty” to all 12 counts. Following the plea, the prosecution counsel requested a definitive trial date and asked that the defendant be remanded in a correctional facility.

Conversely, the defense counsel, Ahmed Raji, SAN, urged the court to grant his client bail, referencing a bail application filed on June 30, 2026.

The prosecution strongly opposed the bail application, presenting a 28-paragraph counter-affidavit dated July 6, 2026. Shittu argued that the defendant poses a public risk, noting that the Department of State Services (DSS) maintains a watch on him. He further argued that due to Bodejo’s influential status, he could potentially compromise witnesses and interfere with the progress of the trial.

Justice Ekwo ordered that the defendant be remanded in the EFCC’s holding facility and adjourned the matter until July 20, 2026, for a ruling on the bail application.

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