ALLEGED $1.5M FRAUD: WITNESS TELLS COURT FUNDS CAME INTO DEFENDANT’S ACCOUNT IN MULTIPLE TRANCHES. (PHOTO). #PRESS RELEASE

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 Alleged $1.5m Fraud:   Witness Tells Court Funds Came into Defendant’s Account in Multiple Tranches The Economic and Financial Crimes Commission (EFCC) on Monday, June 29, 2026, presented its third prosecution witness (PW3), Levi Amanda Opice, a Compliance Officer with Guaranty Trust Bank (GTBank), in the ongoing trial of Ifoma Immanuel before Justice Mojisola Dada of the Lagos State Special Offences Court, Ikeja, over an alleged $1.5 million fraud. Immanuel is standing trial alongside his company, Intermediate Investment Holdings Limited, on a two-count charge bordering on obtaining money by false pretence and forgery involving the sum of $1.5 million. According to the EFCC, investigations revealed that the defendant allegedly induced Adebisi Adebutu of R28 Holdings Limited to invest $1.5 million by claiming that the funds would be used to finance projects linked to Chappal Petroleum Development Company Limited, Intermediate Investment Holdings Limited, and Chappal Ener...
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N585M SCANDAL: PERM SEC ENITAN ASSUMES LEADERSHIP AFTER BETTA EDU’S SUSPENSION. (PHOTO).

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N585m Scandal: Perm Sec Enitan assumes leadership after Betta Edu’s suspension


In the aftermath of the suspension of the Minister of Humanitarian Affairs and Poverty Alleviation, Dr. Betta Edu, the Permanent Secretary of the ministry, Abel Olumuyiwa Enitan, has taken charge in accordance with President Bola Ahmed Tinubu’s directive.


This comes amidst the unfolding scandal involving the alleged payment of public funds into private accounts.


Abel Olumuyiwa Enitan assumed the role of overseeing the Ministry of Humanitarian Affairs and Poverty Alleviation following a letter from the office of the Secretary to the Government of the Federation (SGF), delivered Monday night. The swift transition of responsibility aligns with President Tinubu’s directive, as conveyed by his Special Adviser, Ajuri Ngelale, urging the suspended Minister to “hand over to the Permanent Secretary.”


President Tinubu’s directive also emphasized Dr. Betta Edu’s obligation to cooperate fully with investigating authorities during their inquiry into the alleged financial irregularities.


Additionally, a panel headed by the Coordinating Minister of the Economy and Minister of Finance has been tasked with conducting a comprehensive diagnostic on the financial architecture and framework of the social investment programs. This initiative aims to reform relevant institutions and programs to eliminate institutional frailties and restore public confidence.


The development has triggered diverse reactions, with stakeholders expressing their views on the unfolding scandal and the subsequent actions taken by the government. Civil society organizations and political commentators are closely monitoring the situation, emphasizing the need for transparency and accountability in handling public funds.

 

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