EFCC ARRAIGNS INTERMEDIATE INVESTMENT HOLDINGS BOSS, UFOMA IMMANUEL FOR ALLEGED $1.5M INVESTMENT FRAUD IN LAGOS. (PHOTO). #PRESS RELEASE.

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 EFCC Arraigns Intermediate Investment Holdings Boss, Ufoma Immanuel for Alleged $1.5m Investment Fraud in Lagos The Economic and Financial Crimes Commission, EFCC, on Wednesday, March 11, 2026, arraigned one Ufoma Joseph Immanuel for an alleged $1.5m fraud before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos.  Immanuel, alongside his company, Intermediate Investment Holdings Ltd., was arraigned on a two-count charge bordering on obtaining by false pretence and forgery. Count one reads: “UFOMA JOSEPH IMMANUEL and INTERMEDIATE INVESTMENT HOLDINGS LIMITED between April 2022 and October 2023 in Lagos,  within the jurisdiction of this Honourable Court, with intent to defraud, induced Adebisi Adebut of R28 Holdings Limited to deposit the total sum of S1, 500, 000.00 (One Million, five Hundred Thousand United States Dollars USD) as investment described as to wit: "Cash and or Capital Cost in Chappal Petroleum Development Company Limited; Business D...
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IBEDC INCREASES BAND A ELECTRICITY TARRIFF BY N2. 70.(PHOTO).

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 IBEDC Increases Band A Electricity Tariff By N2.70


Ibadan Electricity Distribution Company Plc ( IBEDC) has announced an upward review of the electricity tariff for Band A customers with immediate effect.


The new tariff, Effective immediately, will be adjusted from N206.80/kWh to N209.50/kWh, according to IBEDC.


The company in a notice on Wednesday, disclosed that the review has been duly approved by the Nigerian Electricity Regulatory Commission (NERC) as captured in the multi-year tariff supplementary order.


The management of IBEDC stressed that the adjustment is necessitated by several key economic indices, including fluctuations in the exchange rate, the current inflation rate, available generation capacity, and the cost of gas.


These factors, according to the Disco, have significantly impacted operational costs, and the new tariff will mitigate these financial pressures while continuing to deliver high-quality electricity services.


In the notice signed by the Acting Managing Director of IBEDC, Francis Agoha, the company noted that “this adjustment affects only Band A customers.


It added that the tariffs for Bands B, C, D, and E remain unchanged.


Agoha further stated that the company remains committed to providing reliable and efficient electricity services to all its customers across different bands.


“We understand that any change in tariffs can be a concern for our customers, and we assure you that this adjustment is necessary to maintain and improve the quality of our services. Our goal is to ensure that you receive the best possible value for your money,” he concluded.

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