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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FG ISSUES WARNING OVER ILLEGAL DEVELOPMENT ON LAGOS SHORELINE. (PHOTO).

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 FG Issues Warning Over Illegal Developments on Lagos Shoreline


The Federal Government has warned developers along the Lagos shoreline to regularize their projects or face demolition and revocation. The warning was issued by the Minister of Housing and Urban Development, Ahmed Dangiwa, following his inspection of the Lagos Lagoon Estates and other shoreline areas on Thursday.


Accompanied by senior officials, Dangiwa expressed concerns over unauthorized land reclamation and construction taking place without proper government approval. He emphasized that such developments violate regulations and promised collaboration with the Lagos State Government to address the issue.


During his inspection, which included a boat trip with officials from the Nigeria Inland Waterways Authority, Dangiwa observed illegal filling of parts of the shoreline with sand and unapproved building activities.


Developers have been given a one-month deadline to regularize their projects, or they will face demolition. The Minister highlighted that the Federal Government is focusing on ensuring all shoreline properties are properly documented and regulated under the Land (Title Vesting) Act of 1975, with the Nigeria Inland Waterways Authority overseeing dredging permits.


Dangiwa also visited several other federal housing projects in Lagos, and announced a Stakeholder Engagement session scheduled for December 13, 2024, to discuss the future of shoreline development in the region.

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