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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RELIEF FOR RETIREES AS OGUN APPROVES ADDITIONAL PENSION BENEFIT. (PHOTOS). #PRESS RELEASE.

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 Relief for Retirees as Ogun Approves Additional Pension Benefit


The Ogun State Government has approved an Additional Pension Benefit (APB) for retirees under the Contributory Pension Scheme, reaffirming its commitment to the welfare, dignity and retirement security of public servants. The decision followed strategic engagements involving labour unions, Pension Fund Administrators and pension managers, and was chaired by the Commissioner for Finance and Chief Economic Adviser, Hon. Dapo Okubadejo.


Approved by Governor Dapo Abiodun, the APB is designed to bridge identified gaps in the CPS and serve as a one-off retirement benefit, similar in spirit to gratuity under the old Defined Benefit Scheme. The initiative will run for ten years as a compensatory measure for retirees affected by delayed remittance of pension contributions by previous administrations and is scheduled to take effect from July 2025, subject to regulatory approvals.


Labour unions, including the Nigeria Labour Congress and the Trade Union Congress of Nigeria, described the reform as bold, innovative and worker-friendly, noting that it directly addresses long-standing concerns over pension adequacy. They pledged full support for the initiative, which they said reflects the administration’s strong commitment to workers’ welfare, confidence in public service and long-term financial security in Ogun State.

More photos below. 



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