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...

ANCELOTTI BACKTRACKS ON REJECTING FIFA CLUB WORLD CUP PARTICIPATION. (PHOTO).


 Ancelotti backtracks on rejecting FIFA Club World Cup participation


In a turn of events, Real Madrid manager Carlo Ancelotti has backtracked on his earlier comments dismissing the club’s participation in the upcoming FIFA Club World Cup.

“In my interview with Il Giornale, my words about the FIFA Club World Cup have not been interpreted in the way I intended,” Ancelotti stated in a clarification statement on Monday.

“Nothing could be further from my interest than rejecting the possibility of playing a tournament that I think can be a great opportunity to continue fighting for great titles with Real Madrid,” he added.

Ancelotti’s remarks come in stark contrast to his reported comments to the Italian newspaper, where he was quoted to have said that Real Madrid would reject the invitation to participate in the prestigious club competition.

“Real Madrid will NOT go to the FIFA World Club, we will reject the invitation like other clubs,” the Italian tactician had told Il Giornale, citing dissatisfaction with the tournament’s prize money as the reason behind the club’s stance.

“Just one single Real Madrid match is worth €20m, and they want to give us that money for the whole competition… no way. Negative,” Ancelotti had said.

The FIFA Club World Cup is an annual international club football competition organized by FIFA, featuring the champions from each of the six continental confederations (UEFA, CONMEBOL, CONCACAF, AFC, CAF, and OFC), along with the host nation’s domestic league champions.

The tournament follows a straight knockout format over two weeks, with the European and South American champions entering at the semi-final stage.

Real Madrid holds the record for most titles in the competition, having won it five times. Spanish clubs have been the most successful overall, with eight titles, while English clubs have claimed four victories. The current champions are Manchester City, who defeated Fluminense 4-0 in the 2023 final.

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