EFCC ARRAIGNS ONE FOR N700M FRAUD IN LAGOS . (PHOTO).#PRESS RELEASE

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 EFCC Arraigns One for  N700m Fraud in Lagos  The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, on Friday, September 4, 2026, arraigned Osaretin Osagiede before Justice Olukayode Ogunjobi of the Lagos State High Court sitting in Ikeja,  over an alleged N700 million fraud. Osagiede is standing trial on a three-count charge bordering on unauthorised access to computer material and receiving stolen property to the tune of N700 million.  Count one reads: “That you Osaretin Osagiede and Zacharia Lorshe (at large), between March, 2025 and January 2026, in Lagos, within the jurisdiction of this Honourable Court, intentionally caused the Ravenpay user accounts' two-factor authentication (2FA) method to be bypassed, with the intent to secure unauthorised access to the bank's data and committed an offence contrary to Section 387 of the Criminal Law of Lagos State 2011. Another counts reads: “That you Osaretin Osagiede and Zacharia Lorshe...
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80,812 PRISON POPULATION, 64% AWAITING TRIAL INMATES - CORRECTIONAL SERVICE. (PHOTO).

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 80,812 Prison Population, 64% Awaiting Trial Inmates - Correctional Service

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‎Awaiting trial inmates now account for 64 percent of Nigeria’s custodial population, as the Nigeria Correctional Service seeks ₦198.85 billion for its 2026 operations. 


Controller-General of the Service, Sylvester Nwakuche, made this known while presenting the agency’s 2025 budget performance and 2026 estimates before the House of Representatives Committee on Reformatory Institutions in Abuja, highlighting congestion across correctional facilities and the need for more infrastructure. 


According to him, as of February 9, 2026, the total inmate population stood at 80,812. Of this figure, 51,955 are awaiting trial inmates, 24,913 are convicted inmates, while 3,850 fall under other detention categories.

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‎The Committee's Chairman, Chinedu Ogah, called for urgent reforms increased funding, and presidential assent to the Correctional Service Trust Fund Bill, describing the agency as central to national security but poorly funded.


He noted that many correctional facilities were built over a century ago and have deteriorated significantly, contributing to recurring security breaches and operational strain.

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