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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KENYA AND UGANDA TO HELP MEDIATE IN ETHIOPIA'S QUEST FOR RED SEA PORT. (PHOTO)

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 Kenya and Uganda to help mediate in Ethiopia's quest for Red Sea port


Kenya's President William Ruto said on Saturday he and the Ugandan President Yoweri Museveni would help mediate a dispute between Ethiopia and Somalia, which was threatening the stability of the region, Reuters reported.


Landlocked Ethiopia, which has thousands of troops in Somalia to fight al Qaeda-linked insurgents, has fallen out with the Mogadishu government over its plans to build a port in the breakaway region of Somaliland, in exchange for possible recognition of its sovereignty.


Somaliland has struggled to gain international recognition despite governing itself and enjoying comparative peace and stability since declaring independence in 1991.


The spat has drawn Somalia closer to Egypt, which has quarrelled with Ethiopia for years over Addis Ababa's construction of a vast hydro dam on the Nile River, and Eritrea, another of Ethiopia's foes.


Somaliland recognition


Somaliland has struggled to gain international recognition despite governing itself and enjoying comparative peace and stability since declaring independence in 1991.


"Because the security of Somalia... contributes significantly to the stability of our region, and the environment for investors and business people and entrepreneurs to thrive," he told a news conference.


Several attempts to resolve the feud failed to make a breakthrough.


Ethiopia's government and foreign affairs spokespeople did not immediately respond to requests for comment. Somalia's foreign minister could not immediately be reached by Reuters.

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