THREE DE-AD, FOUR COACHES AFFECTED AS WARRI-ITAKPE TRAIN DERAILS. (PHOTOS).

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 Three de-ad, four coaches affected as Warri-Itakpe train derails The Nigerian Railway Corporation (NRC) has confirmed the d3ath of three persons following the derailment of the Warri-Itakpe train in Agbor, Delta State. The Corporation added that four coaches left the rail track during the incident which occurred on Monday, June 8, 2026. The Managing Director of NRC, Dr. Kayode Opeifa, said in a statement that the emergency response team and other relevant authorities are currently managing the situation and providing necessary assistance. “The Nigerian Railway Corporation (NRC) has confirmed a serious train accident involving the Warri–Itakpe Train Service (WITS) corridor at Agbor, Delta State,” the statement read. “Rescue and emergency response operations were immediately activated. All passengers on board have now been accounted for. “Sadly, three fatalities have been confirmed at this time. Opeifa, while stating that relevant authorities will continue to assess the full circums...
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HOW MULTI-CHOICE NIGERIA WAS DEFRAUDED OF N7. 9B.(PHOTO).

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How Multichoice Nigeria was defrauded of N7.9 billion


Multichoice Nigeria Limited, a company offering satellite television services across Africa, fell victim to a fraudulent foreign currency exchange transaction, resulting in a loss of N7.9 billion.


The failed foreign currency exchange deal implicated Akintunde Giwa, who works as a currency exchange broker; JNFX Limited, a company specializing in currency exchange services; Ashay Mervyn, a representative of JNFX; and Frontier Financial Technologies Limited.


Mr. Giwa is a currency exchange broker who helps individuals exchange Nigerian Naira for US dollars, earning a commission for his services. According to court documents, Mr. Mervyn is a director at Frontier Financial Technologies Limited, a Nigerian company.


The matter came before Stuart Isaacs, serving in the capacity of Deputy Judge at the High Court in the Business and Property Courts of England and Wales. The ruling was transmitted digitally to the legal representatives of the parties and subsequently filed at the National Archives on 2 April.


According to court records, Multichoice Nigeria Limited transferred N7.9 billion to Mr. Giwa, a currency exchange broker. Mr. Giwa then passed the funds to JNFX Limited, a currency exchange firm, as part of the MultiChoice contracts. The records reveal that the Naira payments were first deposited into accounts held by Mr. Giwa’s companies, before being transferred to accounts specified by JNFX via Mr. Mervyn in exchange for dollars. These dollars were then supposed to be deposited into an account at Standard Chartered Bank in London under the name of MultiChoice Africa, a separate entity within the MultiChoice group of companies.


Nevertheless, the company did not receive any payments in dollars, totaling $16.2 million, as disclosed by Mr. Giwa.


Credit: Premium Times

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