The case was adjourned till July 8, 2025 for continuation of trial.
metro
EFCC arraigns two firms for allegedly defrauding investors of N80m
EFCC arraigns two firms for allegedly defrauding investors of N80m
Two companies identified as FARM360 Limited and MCBHADMOS Trans- Atlantic on a five-count charge bordering on operating collective investment schemes without a licence either by the Central Bank of Nigeria, CBN, or the Securities and Exchange Commission, SEC by the Economic and Financial Crimes Commission, EFCC.
The two companies were arraigned before Justice D.I. Dipeolu of the Federal High Court sitting in Ikoyi , Lagos on Monday.
EFCC alleged that both firms, between 2021 and 2022, collected the sum of N80,000,000.00 ( Eighty Million Naira) from several investors, but defaulted in refunding them or paying back the interests accrued on their investments.
One of the counts reads: ”That you, FARM360 LIMITED and MCBHADMOS TRANS-ATLANTIC TRADE LIMITED, sometime between 2021 and 2022 in Nigeria, within the Judicial Division of this Honourable court, being companies incorporated in Nigeria, failed to obtain a valid licence from the Central Bank of Nigeria to carry on your business of Investment management and you thereby committed an offence contrary to Section 57 of the Banks and Other Financial Institutions Act 2020 and punishable under Sections 57(5) of the same Act.”
A “not guilty” plea was entered for the company.
The prosecution counsel, Abdulhamid .L.Tukur, consequently, called on Nnadikwu Izuchukwu Collins, an investigator with the EFCC, to review the fact of the case.
READ ALSO:
- JAMB: 11 CBT centres, registrants to face sanction over fingerprints
- Osimhen bicycle-kick goal wins Turkish goal award
- Fani-Kayode to Trump: Allow Israel fight its battle, don’t start World War III
Collins stated that the EFCC, on October 21, 2022, received a petition from a group of investors against the defendants, FARM360 and MCBHADMOS RANS-ATLANTIC TRADE LIMITED, alleging that they claimed to be into agricultural business and forex trading, “with mouth-watering promises of returns on investments .”
He also told the court that the group invested the total sum of N93,000,000 with the defendants.
He further stated that: “In the course of investigations, letters of investigation activities were sent to the Securities and Exchange Commission SEC, banks, the Central Bank of Nigeria, CBN, and then Corporate Affairs Commission CAC, respectively.
“Responses were received from the above institutions and were analyzed accordingly. The response from SEC and CBN revealed that the defendants, FARM360 and MCBHADMOS RANS-ATLANTIC TRADE LIMITED, are not licensed to deal in investment and forex trading business in Nigeria.
“The response from Fidelity Bank showed that the sum of N80,000,000.00( Eighty Million Naira) got from the investors were utilised for personal use. The directors of the companies are all at large and efforts are being made to apprehend them.”
The prosecution counsel then sought to tender, in evidence, the bank statement from Fidelity Bank, petition received by the EFCC from the group of investors, letters to the CAC, CBN and SEC and their responses.
Justice Dipeolu admitted and marked them as exhibits.
EFCC arraigns two firms for allegedly defrauding investors of N80m
![]()
metro
Police Nab 49-Year-Old With Pump-Action Rifle, 50 Ammunition Rounds In Anambra
Police Nab 49-Year-Old With Pump-Action Rifle, 50 Ammunition Rounds In Anambra
The Anambra State Police Command has arrested a 49-year-old man, Chima Ogumba, after recovering a pump-action gun and 50 live cartridges from his possession during an intelligence-led operation along Nkpor Road in the Idemili North Local Government Area. The arrest, which took place on Monday, August 17, 2026, was carried out by operatives of the Rapid Response Squad, Awkuzu, following credible intelligence about suspicious movements in the area, and upon searching the suspect, the firearm and ammunition were discovered.
According to the command’s spokesperson, SP Tochukwu Ikenga, the suspect could not provide a satisfactory explanation for why he was carrying the weapons, and he has since been taken into custody as investigations continue. The Commissioner of Police in the state, CP Nnanna Oji Ama, has ordered a comprehensive investigation to uncover the source of the recovered items and to determine whether Ogumba has any links to armed robbery, cultism, or other criminal activities within the state and beyond.
READ ALSO:
- WMotors takes Jetour Africa Expedition to Lagos, Puts SUVs to Off-Road Test
- ‘No Electoral Agreement with ADC’ – Adeleke Rejects Collaboration Claims, Credits God
- Trump Declares Strait of Hormuz ‘New US Territory’ on Truth Social as Iran Vows to Keep Waterway Closed
SP Ikenga further stated that the Command remains committed to proactive policing and sustained tactical operations aimed at identifying and dismantling criminal networks across Anambra State. This latest arrest is part of the police command’s ongoing efforts to curb the proliferation of illegal firearms and curb gun violence in the South-East region, and residents have been urged to remain vigilant and report suspicious activities to law enforcement agencies.
Police Nab 49-Year-Old With Pump-Action Rifle, 50 Ammunition Rounds In Anambra
![]()
metro
Zamfara: Troops rescue seven women, children from terrorists
Zamfara: Troops rescue seven women, children from terrorists
Troops of the Joint Task Force North West, Operation FANSAN YAMMA, have foiled separate terrorist abduction attempts in Zamfara State, rescuing civilians and neutralising an improvised explosive device (IED) planted along a major road.
The operations, conducted on August 17, 2026, occurred at different locations in the state as security forces intensified efforts to protect civilians, secure major roads and disrupt the activities of terrorist groups in Zamfara.
The Media Information Officer of the Joint Task Force North West, Operation FANSAN YAMMA, Lieutenant Colonel Aliyu Danja, disclosed the development in a statement issued on August 17.
Danja said troops of Sector 2 responded to an abduction incident along the Gurusu–Anka Road after receiving information about the attack.
According to him, the troops pursued the terrorists, forcing them to abandon their captives and flee into the surrounding area.
The military officer said the operation resulted in the rescue of seven victims comprising four women and three children.
He added that all seven victims were rescued unharmed.
The rescue came amid continuing security concerns along major roads in Zamfara, where armed groups have repeatedly targeted motorists and passengers.
READ ALSO:
- ‘No Electoral Agreement with ADC’ – Adeleke Rejects Collaboration Claims, Credits God
- Palliative Care, Not Abandonment: Doctor Clears the Air on Ogogo’s Stage-Four Cancer Treatment
- Lagos Pensioners Give Sanwo-Olu 19-Day Ultimatum: Implement Wage Award or Face ‘Mother of All Protests’
In a separate operation around Magazu Village in Tsafe Local Government Area, troops responded to information that terrorists were attempting to abduct motorists.
The troops moved swiftly to the area and engaged the attackers, forcing them to abandon their victims and escape into nearby bushes.
Danja said some of the rescued victims sustained gunshot wounds during the incident and were immediately evacuated to a medical facility for treatment.
The Magazu axis has previously witnessed similar incidents, making the area a major security concern for residents and road users.
Earlier reports indicated that troops of Operation FANSAN YAMMA had rescued 33 passengers abducted by terrorists around the Magazu area after engaging the attackers and forcing them to abandon their victims.
Meanwhile, troops also responded to the discovery of a terrorist-planted IED along the Gurusu–Gwashi Road in Bukkuyum Local Government Area.
The military said the area was immediately secured while an Explosive Ordnance Disposal team was deployed to handle the explosive device.
The team successfully neutralised the IED, preventing potential casualties among soldiers, motorists and other road users.
The discovery highlights the continuing security threat posed by explosive devices along some roads in Zamfara State, particularly routes used by civilians and security personnel.
The latest operations formed part of ongoing efforts by Operation FANSAN YAMMA to maintain security across its Joint Operations Area and prevent terrorists from freely operating in vulnerable communities and along major transportation routes.
Danja said the successful interventions demonstrated the vigilance and responsiveness of troops in protecting civilians, securing communities and keeping major routes safe from terrorist activities.
He said the Theatre Command would continue to maintain pressure on terrorist elements across the Joint Operations Area and deny them the freedom to threaten innocent citizens.
The command also urged members of the public to remain vigilant and provide security agencies with timely and credible information about suspicious movements and activities.
The latest operations underscore the importance of intelligence-led military action in tackling kidnapping and terrorism in Zamfara, particularly along routes that have repeatedly come under attack.
Zamfara: Troops rescue seven women, children from terrorists
![]()
metro
Palliative Care, Not Abandonment: Doctor Clears the Air on Ogogo’s Stage-Four Cancer Treatment
-
Sports2 days agoArsenal thrash Man City 3-0 to win Community Shield
-
metro2 days agoPolice to prosecute Kogi man for allegedly setting wife ablaze
-
metro2 days agoCustoms Names Importers of 399 Pump-Action Rifles, Hands Over Weapons to NSA Office
-
metro2 days agoNDLEA arrests businessman with cocaine, seizes N3.6bn drugs in Lagos
-
metro17 hours agoPalliative Care, Not Abandonment: Doctor Clears the Air on Ogogo’s Stage-Four Cancer Treatment
-
metro2 days agoOsun Woman Found Dead With Severed Wrist Inside Church
-
International2 days agoIran’s Army Chief Offers $30,000 Reward for Capturing or Killing US Troops
-
Sports2 days agoWAFCON 2026: Cameroon beat Malawi 3-0 to claim first-ever continental crown
