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Ex-staff Of First Marina Trust Defrauded Clients N1.3bn

Published

4 years ago

October 18, 2022

A Federal High Court in Lagos on Monday heard that two former employees of First Marina Trust Ltd. cloned the emails of several customers and defrauded them to the tune of over N1.3 billion.

Mr Anthony Onyeoghane, a witness for the Economic and Financial Crimes Commission (EFCC) which is prosecuting the case, gave evidence at the resumed trial of two former staff of First Marina Trust Ltd., Adeyemi Oluwaseun and Suleiman Yusuf.

The EFCC charged them on four counts bordering on conspiracy to commit identity theft, impersonation, and cybercrime.

They were first arraigned in June 2018 before Justice Chuka Obiozor and pleaded not guilty to the charge.

The court granted them bail.

However, Obiozor was transferred from the Lagos Division of the Federal High Court, and the case was re-assigned to Justice Tijani Ringim.

Following the re-assignment of the case, the defendants were on May 12, re-arraigned before Ringim

They, again, pleaded not guilty to the charge, and Ringim allowed them to continue on their earlier bail.

When the trial resumed on Monday, prosecution counsel, Mr Nnaemeka Omenwa, called the witness for examination-in-chief.

The witness told the court that he worked as a Chief Risk Officer at First Marina Trust Ltd., a financial institution regulated by the Central Bank of Nigeria.

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He identified the defendants as his former colleagues who served as marketing operators and relationship managers, respectively.

The witness told the court that he had chaired a committee set up to investigate a case of internal fraud within the company and orchestrated by the defendants, from May 3, 2016.

He told the court that both defendants connived to create email addresses of customers in a bid to defraud them.

According to him, the defendants conspired to change the email address of a customer named Chinedu Ohamuo, whose email address is chimexohanuo@yahoo.com.

The witness said that the defendants changed same as chimexohamuo1@yahoo.com.

He said that following a change of the email, the second defendant, acting as a customer of the company, wrote an email to himself in his official email address, instructing N15 million should be liquidated from the customer’s investment account.

He said that the second defendant also instructed that the funds should be transferred to one Olufemi Ajala, his childhood friend.

The witness said that the second defendant printed out the email address as required by the company’s policy, wrote on it “email received”, dated and signed it with his signature.

“He then took the said email to the first defendant who, upon verification, uploaded the request to the electronic payment system known as GAPS.

“The sum of N15 million was, therefore, transferred from the unsuspecting customer’s account to Olufemi Ajala. They used the same tactics in 19 other transactions.

“The defendants transfered from unsuspecting customers’ investment accounts, the sum of over N1.3 billion .

The witness testified that the only difference between the 19 other transactions and the one to Olufemi Ajala was that Olufemi Ajala was removed from the “equation” and replaced with a bureau de change.

“On May 16, 2016, a customer known as White App Resources Ltd., also saw his investment account defrauded by the defendants to the tune of N186.2 million, using computer system.

“On May 17, 2016, the same cyber fraud was committed by the defendants on the same customer, and the sum of N237.2 million was stolen. On May 27, 2016, the sum of N500.2 million was also stolen,” he said.

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The witness told the court that the same fraud happened on June 9, 2016, June 22, 2016, and Sept.8, 2016, during which various sums of money were transferred.

He told the court that the first defendant confessed to the investigative committee, that he provided the accounts of the bureau de change into which the monies were transferred.

According to the witness, while on the run on Sept. 19, 2016, the second defendant sent an email to the managing director of the company, confessing to the crime and promising to use his “last blood” in making sure that he refunded the money.

The witness told the court that the proper procedure for liquidating a company’s account was by a hand-written letter or email, requesting same.

“The said letter or email is sent to the relationship manager of that particular customer, who is to confirm the letter or email by calling the customer to verify,” he said.

According to the witness, upon verification, the officer is to write “email or letter confirmed”, then signs and hands it over to the treasury operation staff, who in turn verifies same before uploading it in the electronic payment system.

The case has been adjourned until Feb. 14, 2023, for the continuation of trial.

The EFCC alleges that the defendants obtained sums of money from unsuspecting customers of the company by altering their email addresses.

The EFCC said that the offences contravene the provisions of Sections 13, 22(4), 27(a) and 27(2) of the Cyber Crimes (Prohibition, Prevention) Act, 2015.

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Grand Chief Imam Denies Involvement in Prayer Event for Oyo APC Governorship Candidate

Published

8 hours ago

June 17, 2026

Trends Admin

Killings of teachers, citizens barbaric, satanic — Grand Chief Imam of Oyo Land

Grand Chief Imam of Oyo Land, Sheikh Al-Imam Barrister Bilal Husayn Akinola Akeugberu

Grand Chief Imam Denies Involvement in Prayer Event for Oyo APC Governorship Candidate

OYO – The Grand Chief Imam of Oyo Land, Sheikh Al-Imam Barrister Bilal Husayn Akinola Akeugberu, has distanced himself from a recent prayer gathering reportedly organised in Oyo Town in honour of the All Progressives Congress (APC) governorship candidate in Oyo State, Senator Sharafadeen Abiodun Alli.

In a statement issued on Wednesday by his Director of Media and Publicity, Mallam Ibrahim Agunbiade, the Islamic leader said he was neither informed, invited nor represented at the event where his name was allegedly associated with the gathering.

The statement noted that while the Grand Chief Imam appreciated Senator Alli’s thanksgiving visit to Oyo Town and acknowledged his expression of gratitude to Allah and the people of Oyo State following his emergence as the APC flag bearer, such engagements should be conducted with proper consultation and respect for established religious leadership.

According to the statement, other recognised Islamic leaders in Oyo Land were also reportedly unaware of the prayer programme.

“The Grand Chief Imam of Oyo Land, Sheikh Bilal Akinola Akeugberu, was neither informed, invited, nor represented at any prayer gathering where his name was reportedly associated with the event,” the statement said.

The office of the cleric stressed that Islam places significant importance on accountability, consultation and respect for legitimate leadership, warning against the use of the names of religious leaders and institutions without prior communication and approval.

It further expressed concern that the incident was not an isolated case, alleging that there had been previous instances in which announcements and representations involving Islamic institutions were made without the knowledge of the recognised leadership.

The statement warned that such actions could create confusion and misrepresentation within the Muslim community.

Consequently, the office cautioned individuals and organisations against impersonating or falsely presenting themselves as representatives of the Grand Chief Imam without official authorisation.

“The Office therefore cautions individuals and organisations against impersonating, misrepresenting, or presenting themselves as representatives of the Grand Chief Imam when no official mandate has been given,” the statement added.

Despite the controversy, the Grand Chief Imam reaffirmed his commitment to promoting unity, peaceful coexistence and collaboration with political leaders, religious organisations and community stakeholders for the development of Oyo State and Nigeria.

The statement also called for greater respect for traditional and religious institutions in Oyo Land, noting that such structures have played vital roles in maintaining peace, harmony and social stability in the ancient town.

Grand Chief Imam Denies Involvement in Prayer Event for Oyo APC Governorship Candidate

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Iyabo Obasanjo Secures PDP Senate Ticket After Party Switch

Published

10 hours ago

June 17, 2026

Trends Admin

Iyabo Obasanjo Secures PDP Senate Ticket After Party Switch

Former Nigerian senator, Iyabo Obasanjo, has reportedly secured the Peoples Democratic Party (PDP) senatorial ticket for Ogun Central shortly after rejoining the party, marking a major political comeback ahead of the 2027 general elections.

Reports from party sources in Ogun State indicate that the former lawmaker emerged as the PDP candidate following her return to the opposition party after a brief period in the All Progressives Congress (APC).

Her return to the PDP came days after she resigned from the ruling APC, citing alleged internal party disagreements, lack of inclusion, and what she described as disrespect within the party structure.

Party insiders say her emergence as the PDP senatorial flagbearer reflects ongoing realignments within the opposition party in Ogun State, as political actors position themselves ahead of the next election cycle.

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Iyabo Obasanjo, daughter of former President Olusegun Obasanjo, previously served as senator representing Ogun Central between 2007 and 2011, during which she was active in legislative debates and governance issues at the national level.

Her return to frontline politics has been described by supporters as a strategic comeback, with expectations that she will leverage her experience as a former federal lawmaker and former state commissioner for health.

The development is expected to intensify political competition in Ogun Central Senatorial District, where parties are already strengthening structures ahead of the 2027 elections.

The PDP is yet to officially release a comprehensive list of its confirmed candidates for the forthcoming general elections, but internal party sources suggest more nominations will be finalised and announced in the coming weeks as preparations continue nationwide.

Iyabo Obasanjo Secures PDP Senate Ticket After Party Switch

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P-Square Feud: Peter Okoye’s Absence Delays Jude Okoye’s N1.3bn Fraud Trial

Published

11 hours ago

June 17, 2026

Trends Admin

Jude and Paul Okoye of P-Square

P-Square Feud: Peter Okoye’s Absence Delays Jude Okoye’s N1.3bn Fraud Trial

The N1.3 billion fraud trial involving former P-Square manager Jude Okoye suffered a setback on Wednesday after his younger brother and key prosecution witness, Peter Okoye, failed to appear before the Federal High Court in Ikoyi, Lagos, for cross-examination.

Jude Okoye and his company, Northside Music Limited, are facing a seven-count charge filed by the Economic and Financial Crimes Commission (EFCC) over allegations involving N1.38 billion, $1 million and £34,537.59. Both defendants have pleaded not guilty to the charges.

At the resumed hearing before Justice Alexander Owoeye, EFCC counsel G.C. Akaogu informed the court that Peter Okoye, popularly known as Mr P, could not attend the proceedings because his flight from Abuja to Lagos had been rescheduled.

According to Akaogu, the development was communicated to the defence team before the commencement of the hearing.

However, defence counsel, Clement Onwuewunor (SAN), disputed the explanation, telling the court that information available to the defence suggested that Peter was already in Lagos and had not travelled as claimed by the prosecution.

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The senior advocate further lamented that he had cancelled other professional engagements outside Lagos in preparation for the hearing, only to be informed of the witness’s absence.

Following submissions from both parties, Justice Owoeye adjourned the matter until September 21, 2026, for the continuation of trial and Peter Okoye’s cross-examination.

The high-profile case stems from a petition filed by Peter Okoye against his elder brother, accusing him of financial misconduct and the alleged diversion of revenues generated from the former P-Square music catalogue.

Peter had earlier testified that concerns about the management of the group’s finances emerged after the brothers reunited following their initial split. According to him, investigations into the operations of companies linked to the group’s business affairs prompted him to report the matter to the anti-graft agency.

During his testimony, Peter alleged that certain royalty payments and music revenues were channelled through entities that were unknown to him, leading to questions about the handling of earnings generated by the duo’s music business.

The trial has attracted significant public attention due to revelations made during earlier proceedings. Under cross-examination, Peter reportedly admitted that he was a co-signatory to the bank account of Northside Entertainment Limited, a development that defence lawyers argued contradicted suggestions that Jude had sole control over the company’s finances.

The defence has continued to challenge aspects of Peter’s testimony, relying on financial documents and corporate records presented before the court.

Despite the allegations, Jude Okoye has consistently denied any wrongdoing and has maintained his innocence since the commencement of the trial.

The court is expected to hear further evidence when proceedings resume in September, with Peter Okoye anticipated to return to the witness box for continued cross-examination.

The case remains one of the most closely watched legal disputes in Nigeria’s entertainment industry, given its connection to the long-running P-Square feud and the involvement of two of Africa’s most successful music stars.