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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SENATE HAS WARNED MDAs TO IMMEDIATELY COMPLY WITH FINANCIAL REGULATIONS, FOLLOWING THE RELEASE OF THE AUDITOR GENERAL'S REPORT THAT REVEALED MASSIVE FINANCIAL MISMANAGEMENT. (PHOTO).

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 The Senate has warned Ministries, Departments, and Agencies (MDAs) to immediately comply with financial regulations, following the release of the Auditor General’s report that revealed massive financial mismanagement.


 The Senate  also  made it known  that it will impose sanctions on any MDA found  failing to address the findings in the report.


 Senator Garba Madoki,who is  the Chairman of the Senate Committee on Legislative Compliance, stated this at a workshop on legislative oversight organized by the National Institute for Legislative and Democratic Studies (NILDS) in partnership with the Konrad Adenauer Stiftung (KAS). 


Senator Madoki expressed concern over the frequent failure of MDA heads to appear before the Senate when summoned, stressing that the Senate would no longer tolerate such behavior.

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