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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S. A: MORE LUXURY VEHICLES TO BE SEIZED AS SIU EXPOSES TEMBISA HOSPITAL LOOTERS’ TACTICS. (PHOTO).

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 More Luxury Vehicles to Be Seized as SIU Exposes Tembisa Hospital Looters’ Tactics


The Special Investigating Unit (SIU) has uncovered a sophisticated scheme used by a syndicate involved in the R2.3 billion Tembisa Hospital procurement scandal. Investigators revealed that luxury vehicles were bought and intentionally left at dealerships, allowing members to use them whenever needed while keeping them hidden from authorities.


SIU Head, Advocate Andy Mothibi, explained that this method helped suspects conceal assets while still enjoying their benefits. “The modus operandi these people use is that they would purchase vehicles and leave them at dealerships to use as and when needed. Our investigators were able to uncover this,” he said.


The SIU has traced several assets and funds linked to the case, including money stored in trust and bank accounts. Some members of the syndicate are reportedly cooperating with investigators, helping to locate additional hidden assets.


So far, the total value of assets identified from the main syndicate is about R596 million, with another R283 million still being traced. A secondary group, referred to as the “X syndicate,” is also under investigation for similar activities.


The SIU confirmed that operations to seize properties, vehicles, and other assets are ongoing, with a total recovery target of R900 million. Advocate Mothibi said the unit is determined to trace and preserve every hidden asset to ensure that those involved are held accountable.


He emphasized that the SIU’s work will continue until all stolen public funds are recovered and justice is served.

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