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 SUSPENDS 15% IMPORT TAX ON PETROL AND DIESEL. (PHOTO).

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 FG Suspends 15% Import Tax On Petrol And Diesel


After massive public pressure and sustained resistance from Nigerians, the Federal Government has finally backed down and suspended the proposed 15 percent import duty on petrol and diesel.


The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) confirmed the suspension in a new statement, assuring citizens that the tax is no longer being considered. The agency also cautioned against panic buying or hoarding, stressing that Nigeria currently has adequate supplies of petrol, diesel, and LPG from both local refineries and imports.


This decision marks a major victory for Nigerians who stood firm against a policy that would have worsened fuel prices, increased transport costs, and pushed living conditions further into hardship.

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