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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DANGOTE INCREASES PETROL PRICE TO N1,275 PER LITRE. (PHOTO).

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 Dangote increases petrol price to N1,275 per litre


The Dangote Refinery has increased its petrol price, raising its ex-depot price of Premium Motor Spirit by N75 per litre, while also suspending product sales following a disruption in its Proforma Invoice process.


Price data from Petroleumprice.ng and confirmation from a Dangote refinery official on Wednesday showed that the petrol loading price rose from N1,200 per litre to N1,275 per litre, while coastal supply prices increased to N1,215 per litre.


The change followed operational adjustments and has started affecting the downstream petroleum market.


The official confirmed the development, saying


“Yes, the increase of PMS to N1,275 per litre is true. Coastal price is N1,215.”


According to another source, the refinery stopped its Proforma Invoice entry process at about 4pm on Tuesday, April 28, disrupting normal supply scheduling across its loading system.

The source mentioned that the suspension led to an immediate halt in both petrol and Automotive Gas Oil sales.


The suspension and price increase have drawn reactions from traders and marketers, many of whom are preparing for higher depot costs and a possible rise in pump prices nationwide.

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