Nigerian who diverted UK firm's funds to forfeit N342m, says EFCC - Newstrends
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Nigerian who diverted UK firm’s funds to forfeit N342m, says EFCC

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Chairman of EFCC, Ola Olukoyede

Nigerian who diverted UK firm’s funds to forfeit N342m, says EFCC

A Federal High Court in Abuja has ordered the interim forfeiture of N342,545,933.75 traced to a Nigerian former administrator of the British-based Lineroom Limited, over allegations of fraudulently diverting the company’s £2,000,000.

The order was delivered on September 10, 2024, based on a motion ex parte filed by the Economic and Financial Crimes Commission (EFCC).

The development arose from a petition by the solicitors of the company’s parent company, Ecclestarn Limited, which alleged fraud, forgery, and breach of trust by the former staff against one of its subsidiaries, resulting in fraudulent loan approvals and diversion.

In the motion marked FHC/ABJ/CS/1260/2024, exclusively seen by Nairametrics, EFCC lawyer Ogechi Ujam Esq. sought the court’s interim order to forfeit the sum of N342,545,933.75, reasonably suspected to be proceeds of unlawful activity, to Lineroom Limited through the Federal Government of Nigeria.

She submitted that a preliminary investigation into the petition revealed that the suspect, Ayomide Otubanjo Oluseun, owner of VHC (Nigeria) Limited, fraudulently diverted substantial funds belonging to Lineroom Limited, a company based in the United Kingdom, to the account of VHC (Nigeria) Limited domiciled in a Nigerian bank.

She explained that the suspect fraudulently executed a loan agreement between Lineroom Limited and VHC (Nigeria) Limited and imported a total sum of £2,000,000 in four tranches of £500,000 from Lineroom Limited’s account in the United Kingdom to VHC (Nigeria) Limited’s account in Nigeria.

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She added that the diverted funds are due to be restituted to Lineroom Limited through the Federal Government of Nigeria.

In the affidavit accompanying the motion, dated August 26, 2024, Gidado Abdulkadir, an investigator with the EFCC, stated that Ecclestarn Limited appointed the suspect as the sole administrator of one of its subsidiary companies, Lineroom Limited, to oversee its affairs.

He stated that in November 2017, the suspect, being the sole administrator of Lineroom Limited and with alleged intent to defraud the company, approved the purported loan applications by his company, VHC (Nigeria) Limited, for a loan facility of £2,000,000.

The suspect was accused of fraudulently executing a loan agreement between Lineroom Limited and VHC (Nigeria) Limited and signing on behalf of both companies.

He stated that the suspect, through VHC (Nigeria) Limited, wrote to a Nigerian bank, informing the bank of its intent to bring in a capital investment of £1,000,000 (One Million British Pounds) and also requesting the bank to sell the funds, credit the company’s account with the proceeds, and issue a certificate of capital importation.

“The suspect also attached a board resolution from VHC (Nigeria) Limited to that effect. A copy of the letter to the bank and the board resolution is attached and marked Exhibit EFCC 4A & 4B, respectively,” he stated. 

According to the investigator, the bank approved certificates of capital importation for the £2,000,000. Upon receipt of the funds into the account of VHC (Nigeria) Limited, the suspect used the funds to purchase time deposits and treasury bills in the bank.

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He said that upon maturity of the time deposits, the matured deposits and interest were deposited into the personal account of the suspect, Otubanjo Ayomide Oluseun.

“Upon maturity of the treasury bills, the suspect liquidated the matured treasury bills and invested them in Guaranty Trust Fund Managers Limited to the tune of N149,999,642.38. 

“That the invested funds at Guaranty Trust Fund Managers Limited are worth N155,725,933.75 (One Hundred and Fifty-Five Million, Seven Hundred and Twenty-Five Thousand, Nine Hundred and Thirty-Three Naira, Seventy-Five Kobo),” he stated, adding that the suspect also invested N100,000,000 in another venture. 

The EFCC told the court that the suspect was invited to its office, where he volunteered a written statement under caution, “admitting that he signed all the documents for the purported loan facility from Lineroom Limited without authorization from the holding company, Ecclestarn Limited, and further stated that he used the funds as working capital for VHC (Nigeria) Limited and is willing to refund the monies to Lineroom Limited.” 

The EFCC urged the court to hold that it is pertinent for the funds in dispute to be forfeited to the UK company through the Federal Government of Nigeria, as recovery of the sum fraudulently diverted from the company.

Ruling on the motion on September 10, 2024, Justice Emeka Nwite said the application was meritorious and granted it.

He also directed the publication of the interim forfeiture order in any national daily for anyone interested in the funds sought to be forfeited to appear before the court to show cause within 14 days of the publication why the final order of forfeiture of the funds to Lineroom Limited, through the Federal Government of Nigeria, should not be made.

The case was adjourned to November 5, 2024, for a hearing.

 

Nigerian who diverted UK firm’s funds to forfeit N342m, says EFCC

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Man Arrested for Slitting Wife’s Throat During Farm Argument

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Rivers State police spokesperson Grace Iringe-Koko
Rivers State police spokesperson Grace Iringe-Koko

Man Arrested for Slitting Wife’s Throat During Farm Argument

A tragedy occurred in Amaji Village, Umuoyoro Community, Omuma Local Government Area, Rivers State, when a man allegedly slit his wife’s throat during an argument on Thursday, February 19, 2026. The victim, a mother of two, reportedly died from a deep cut inflicted by her husband while they were at their farm, sources said.

According to witnesses, a domestic dispute escalated into violence after the suspect, identified as Mr. Abuchi, reportedly grabbed a kitchen knife and attacked his wife. Her screams attracted nearby villagers, who rushed to the scene, overpowered the suspect, and handed him over to the Rivers State Police Command.

The Police Public Relations Officer (PPRO), CSP Grace Iringe‑Koko, confirmed the arrest of the suspect and said the Commissioner of Police has ordered a detailed investigation to ensure timely justice.

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Yes, I can confirm the incident. The suspect has been arrested and a thorough investigation is ongoing to ensure justice is served,” she stated.

The incident has drawn condemnation from the Centre for Basic Rights and Accountability Campaign (CBRAC), which described the killing as the height of man’s inhumanity to man. The group called on the police to conduct a transparent investigation and ensure that justice is both served and seen to be served.

Prince Wiro, National Coordinator of CBRAC, said, “There is no justification for anyone to take another person’s life. This is a clear case of murder, and the Rivers State Police Command must ensure accountability.”

Residents of Amaji Village remain shocked and grieving, while community leaders urge peaceful resolution of disputes and enhanced measures to prevent domestic violence.

The case highlights the ongoing risks of domestic violence in Nigeria and the critical role of law enforcement and community awareness in protecting vulnerable family members.

Man Arrested for Slitting Wife’s Throat During Farm Argument

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Armed Bandits Kill 30, Kidnap Villagers in Zamfara Attack

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Armed Bandits

Armed Bandits Kill 30, Kidnap Villagers in Zamfara Attack

At least 30 people have been killed and several others abducted following a late-night attack by armed bandits on Dutsin Dan Ajiya village in Anka Local Government Area, Zamfara State. The assault occurred on Thursday, February 19, 2026, when gunmen on motorcycles surrounded the community, blocked all exits, and opened fire on residents, witnesses said.

Eyewitnesses reported that the attackers stormed homes, shot indiscriminately, and kidnapped villagers, leaving many unaccounted for. Bodies were reportedly recovered early Friday morning, while several abducted residents were taken into nearby forests, according to local sources.

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The attack comes just two days after the Zamfara State Government unveiled new security hardware, including drones and armoured vehicles, as part of ongoing efforts to combat banditry and rural violence. Despite these measures, the fresh raid highlights the persistent insecurity in Zamfara State, where bandit attacks, kidnappings, and property destruction have become recurring threats.

This incident follows a similar deadly raid in Arewa Local Government Area of Kebbi State, where at least 33 people were reportedly killed, underscoring the escalating insecurity across northwest Nigeria.

Attempts to obtain an official statement from the Zamfara State Police Command were unsuccessful as of press time. Security experts and residents are calling for urgent government and military intervention to protect vulnerable communities and prevent further bloodshed.

The latest attack is a grim reminder of the challenges facing rural communities in northwest Nigeria, where armed bandits continue to operate with impunity, threatening public safety, livelihoods, and social stability.

Armed Bandits Kill 30, Kidnap Villagers in Zamfara Attack

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Tinubu Summons Aiyedatiwa Over APC Congress Violence, Monarch’s Murder

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Ondo State Governor, Lucky Orimisan Aiyedatiwa
Ondo State Governor, Lucky Orimisan Aiyedatiwa

Tinubu Summons Aiyedatiwa Over APC Congress Violence, Monarch’s Murder

President Bola Tinubu has summoned Ondo State Governor Lucky Aiyedatiwa to Abuja following deadly violence during the All Progressives Congress (APC) ward congresses in Ondo State, which reportedly claimed four lives in Idanre and Akure North local government areas.

The President was said to be deeply disturbed by the killings, which occurred during what was expected to be a routine APC ward congress, especially in a state firmly controlled by the ruling party.

A senior government source in Akure disclosed that Governor Aiyedatiwa travelled to Abuja on Thursday after receiving the summons, following a series of security reports submitted to the Presidency detailing the violence that erupted during the APC congresses in Ondo State.

According to the source, the governor had earlier lined up activities to mark his one-year anniversary in office, but was forced to scale down the programme due to the presidential invitation.

The governor reportedly left Akure shortly after inaugurating the Igoba and Alagbaka Extension roads, without waiting for the commissioning of the 100,000-litre water supply project at the Federal University of Technology Akure Teaching Hospital (FUTATH) complex. His deputy, Dr. Olayide Adelami, represented him at other anniversary events.

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The source revealed that the summons was issued late Wednesday night, following the President’s review of multiple intelligence briefings.

President Tinubu is said to be very angry over the Ondo killings and wants a clear explanation of what went wrong, particularly as the violence occurred within the APC, where there is no strong opposition,” the source said.

While it could not be independently confirmed if the governor met with the President, Aiyedatiwa was said to have returned to Akure later on Thursday, having been in Abuja ahead of a meeting expected on Friday.


Security Tension Deepens as Traditional Ruler Is Killed

Meanwhile, the security crisis in Ondo State worsened following the killing of the traditional ruler of Agamo Town, Oba Kehinde Jacob Faledun, who was murdered by suspected gunmen inside his palace on February 18, 2026, at about 7:10 p.m.

The killing triggered widespread fear and condemnation, prompting a swift response from security agencies.

The Ondo State Commissioner of Police, Adebowale Lawal, led a high-powered security delegation—including the Nigerian Army, the Nigeria Security and Civil Defence Corps (NSCDC), and the Department of State Services (DSS)—to the community.

Lawal assured residents that the police and military would track down the killers, stressing that justice would be served.

Preliminary investigations revealed that about six masked gunmen allegedly stormed the monarch’s residence, forcibly abducted him, and attacked him violently, leading to his death.

The Commissioner confirmed the deployment of additional security personnel, including tactical teams and operational assets, to Agamo and neighbouring communities, urging residents to provide credible intelligence to aid investigations.

He reassured the people of Ondo State that security agencies would continue to work together to restore peace, maintain stability, and protect lives and property.

Tinubu Summons Aiyedatiwa Over APC Congress Violence, Monarch’s Murder

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