Cybercrime: Convicted 'Young billionaire', forfeits N90m, $2,200, Abuja, Lagos properties – Newstrends
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Cybercrime: Convicted ‘Young billionaire’, forfeits N90m, $2,200, Abuja, Lagos properties

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Chima Hyginus Nkwocha, also known as “Young Billionaire.”

Cybercrime: Convicted ‘Young billionaire’, forfeits N90m, $2,200, Abuja, Lagos properties

The Economic and Financial Crimes Commission (EFCC) has secured the forfeiture of $2,200 in cash, N90,280,934, and several properties located in Abuja and Lagos following the conviction of a cybercrime suspect, Chima Hyginus Nkwocha, also known as “Young Billionaire.”

The Federal High Court in Abuja convicted Nkwocha on charges of impersonation and money laundering, according to an EFCC statement released on Wednesday.

Nkwocha was arraigned before Justice Emeka Nwite of the Federal High Court, Maitama, Abuja, following his arrest in August 2024 at the Lugbe area of Abuja, based on intelligence received by the EFCC’s Advanced Fee Fraud Section.

EFCC Allegations 

  • Nkwocha was accused of impersonating individuals, including Frank Nils, Frank Cobert, Frank Brown, and Chiress Riffatt, using Gmail and Google Voice to defraud Linda Wheeler, an American citizen, for $345,000.
  • He reportedly received the naira equivalent of the funds through Ginux Global Nigeria Ltd’s Zenith Bank account.
  • The EFCC prosecution counsel, Lanre Adeola Olanrewaju, presented evidence including the defendant’s extrajudicial statements admitting to the crime, as well as electronic devices, forensic investigation reports, and other materials.

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Count one of the EFCC’s charges read:  “That you, Chima Hyginus Nkwocha (AKA Frank Nils, Frank Cobert, Frank Brown, and Chiress Riffatt), sometime in 2022 in Abuja, within the jurisdiction of this Honourable Court, did fraudulently impersonate Frank Nils, Frank Cobert, Frank Brown, and Chiress Riffatt on Gmail and Google Voice using the Gmail addresses, [email protected] and [email protected] with intent to defraud, fraudulently obtaining a cumulative sum of Three Hundred and Forty-Five Thousand Dollars ($345,000) from Linda Wheeler, an American, and receiving the naira equivalent through Ginux Global Nigeria Limited with account number 1228782493 domiciled in Zenith Bank, thereby committing an offence contrary to Section 22(2) of the Cyber Crimes (Prohibition, Prevention, Etc.) Act, 2015 and punishable under Section 22(4) of the Act.” 

The EFCC disclosed to the court that items recovered during Nkwocha’s arrest included:

  • A black Mercedes Benz ML 350 with registration number B-2 and chassis number 4JGDA5HB9DA105827
  • Two gold necklaces with pendants, one gold bracelet
  • $2,200 in cash and N90,280,934 in a Ginux Global Nigeria Ltd Zenith Bank account (account number 1228782493), for which Nkwocha was the sole signatory
  • A three-bedroom terrace duplex at Cookies Court 2, 2nd Avenue, Ocean Palm Estate, Ogombo, Sangotedo, Ajah, Lagos
  • A three-bedroom bungalow and two self-contained apartments on Plot B023, Standard Estate, Galadima, Abuja
  • A plot of land measuring 300 square meters at Eko Beach City, Lekki Phase 1, Lagos
  • Two Zenith Bank drafts worth N5,000,000 and N3,000,000, dated September 12, 2024, and October 17, 2024, respectively
  • An iPhone 13 Pro Max, a Samsung Galaxy S21 Ultra, and a Samsung Galaxy S24 Ultra

What Transpired In Court  

  • At the resumed hearing in December, Nkwocha pleaded guilty to the charges. The defence counsel raised no objections to the EFCC’s evidence, admitting all the exhibits.
  • Prosecution counsel Olanrewaju urged the court to convict Nkwocha in line with laws against cybercrime and money laundering.
  • Justice Nwite convicted and sentenced Nkwocha on Tuesday, December 31, 2024, to two years imprisonment with an option of a N2,000,000 fine.
  • The court also ordered the forfeiture of all items and properties to the Federal Government of Nigeria, declaring them proceeds of crime.
  • EFCC quoted the judge as stating that the forfeited items included the black Mercedes Benz ML 350, gold jewelry, $2,200 cash, N90,280,934 in the Zenith Bank account, properties in Lagos and Abuja, Zenith Bank drafts, and electronic devices recovered from Nkwocha.

The conviction underscores Nigeria’s ongoing fight against financial crimes. However, the Federal High Court’s verdict remains subject to appeal by any aggrieved party.

Cybercrime: Convicted ‘Young billionaire’, forfeits N90m, $2,200, Abuja, Lagos properties

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What do you need 130 SAs for? Critics query Rivers council chairman’s extravagance 

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What do you need 130 SAs for? Critics query Rivers council chairman’s extravagance 

Chairman of the Obio-Akpor Local Government Area in Rivers State, Chijioke Ihunwo, has appointed 130 individuals to serve as his special assistants.

This show of wasteful spending has not gone down well with the people as shown in their comments on social media, newstrends reports.

This is coming after the Supreme Court granted financial autonomy to all 774 local governments in Nigeria.

The Supreme Court judgement was generally applauded because many felt state governors were annexing local government funds, thus making it difficult to implement developmental projects in such rural areas.

Ihunwo announced the appointments on some of his social media platforms, indicating that they would take immediate effect.

Most people wondered what the chairman intended to do with such a large number of special advisers.

Nsikan Udo said, “Just employ the whole local government indigenes! Pay all of us salary. After all, na our money… make we just share the full allocation!”

A Facebook user, Jude Ojei, as saying, “What do you need 130 personal assistants for? I know it is for political patronage, but I think it’s too much because you have other political appointees. This is my personal opinion, though.”

In his reaction, Chidiebere Dike, wrote, “I love you, Chijioke, and I want you to succeed, but at this point, you are losing it.

“What does a local government chairman need 130 special assistants for, plus the others you appointed initially, plus your vice and councillors? What is all this nonsense?”

ChimaOgba stated, “What the people ordered. This one is mini-Wike waiting in the wings to pounce on Rivers people.”

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How I plotted Fayose’s impeachment with Obasanjo – Ex-presidential aide

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Babafemi Ojudu and Ayodele Fayose

How I plotted Fayose’s impeachment with Obasanjo – Ex-presidential aide

Former Special Adviser on Political Matters to ex-President Muhammadu Buhari, Babafemi Ojudu, has disclosed his role in the impeachment of former Ekiti State Governor, Ayodele Fayose.

Speaking on Edmund Obilo’s podcast State Affairs, published on Thursday, Ojudu revealed that he actively plotted and scripted Fayose’s impeachment with the backing of former President Olusegun Obasanjo.

While recounting the events, Ojudu shed light on the political strategies and maneuvers employed to unseat Fayose, offering a glimpse into the behind-the-scenes activities that shaped Ekiti State’s political history.

According to Ojudu: “I plotted and scripted the impeachment of Fayose in Ekiti. I used Obasanjo and when he realized it, he fought back against me.

“I had an agreement and signed that Fayose should be impeached but make sure his deputy is not. I took all the lawmakers to Lagos where I kept them in hotels and was feeding and taking them around.

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“I was not a senator, I was a journalist who had money and my friends gave me money. They were not happy with him, I saw that weak link and I exploited it.

“Obasanjo was angry and gave the deputy governor soldiers to return to Ekiti and proclaim herself as governor. When she got there, I called people to resist her and they had no alternative but to declare an emergency.

“Fayose sued me for libel and Falana was my lawyer, I went to court and presented my facts, by the time we finished, Justice Daramola told Fayose ‘you have no honour and integrity.’”

Fayose became the second governor of Ekiti on May 29, 2003, after defeating the incumbent governor, Niyi Adebayo, in the governorship election.

He was impeached on October 16, 2006.

 

How I plotted Fayose’s impeachment with Obasanjo – Ex-presidential aide

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Tax reform: Tinubu has agreed to amend controversial clauses, says Gov Sule

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Governor Abdullahi Sule

Tax reform: Tinubu has agreed to amend controversial clauses, says Gov Sule

Governor Abdullahi Sule of Nasarawa on Wednesday said President Bola Tinubu has agreed to amend contentious clauses in the proposed tax reform bills before their passage by the National Assembly.

Newstrends reports that the four bills which were transmitted to both chambers of the legislature by the President in September had generated controversy following stiff opposition in some quarters.

The bills are the Nigeria Tax Bill 2024, the Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill.

The critics of the bills included the Northern Governors Forum, Traditional Rulers Council, National Economic Council, Northern Elders Forum, among others.

Despite the opposition, the four bills scaled second reading in the Senate.

But speaking during an interview on Channels TV current affairs Politics Today on Wednesday, Mr Sule said the issues have been resolved between the governors and Mr Tinubu.

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According to him, the President said all recommendations should be forwarded to the National Assembly.

Mr Sule said: “We have achieved our goal, that is the reason I talked differently today, because all we wanted to achieve has been achieved.

“We actually wanted the bill to be discussed further. We didn’t want this bill to be passed with all the content of what it is.

“Look at the way the house of representatives is handling it, I want to commend the house, particularly the speaker.

“I give credit to Mr. President; when the governors met with him, he told us that we don’t have to withdraw this bill [Tax Reform Bill].

“We can actually address all the concerns you have and all the amendments, and then we can pass the bill.

“For me, from that day, my issues with the bills have been resolved.

“What I didn’t want is a situation where we have bills with concern, especially for people like us, and then that bill is passed.

“But look at how the house of reps is handling, it has not even passed the second reading, they are taking inputs and making considerations from everybody.

“And this is a concurrent bill; it doesn’t matter if the Senate has passed the bill; if the House of Reps doesn’t pass it, it has no effect.”

Tax reform: Tinubu has agreed to amend controversial clauses, says Gov Sule

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