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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PVAC SECURES BILLIONS IN EURO AND DOLLAR GUARANTEES TO BOOST HEALTHCARE INVESTMENT . (PHOTO).

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PVAC Secures Billions In Euro And Dollar Guarantees To Boost Healthcare Investment 


The Presidential Initiative on Unlocking Healthcare Value Chain (PVAC) has secured billions of dollars and euros in guarantor financing to support investors seeking to establish bankable industries in Nigeria’s healthcare manufacturing sub-sector.


The PVAC National Coordinator, Dr. Abdu Mukhtar said the initiative, under the leadership of the Coordinating Minister of Health and Social Welfare, Prof. Muhammad Ali Pate and at the direction of President Bola Tinubu, has arranged guarantor financing from the European Investment Bank (EIB) worth €1 billion for education and healthcare manufacturing, and another US$1 billion from AFREXIMBANK.


Dr. Mukhtar noted that PVAC currently has about 85 different projects in its pipeline, disclosing that several key projects expected to materialize this year, as a result of the President’s intervention, including the commissioning of a test kits manufacturing company in Port Harcourt, the localization of family planning products in Anambra State which is described as a “game changer” and federal government support for a major pharmaceutical company in Kano State, which is set to produce millions of tablets for Nigeria and West Africa.

 

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