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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KENYA-US RARE EARTHS DEAL CHALLENGED IN COURT OVER SECRECY. (PHOTO).

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 Kenya-US rare earths deal challenged in court over secrecy


A multi-billion-dollar rare earth minerals deal between Kenya and the United States was challenged in a Kenyan court on Monday, accused of lacking transparency.


The deal involves minerals critical to high-tech and low-carbon industries in the coastal forest of Mrima Hill, which is believed to hold deposits worth about $62.4 billion, including large reserves of niobium, a metal used to strengthen steel.


The Centre for Litigation Trust, a legal advocacy organisation, is suing the Kenyan government in a bid to halt the deal with the United States to mine the area, after media reports that it was nearing completion.


In court papers seen by AFP, the group calls for full transparency and public consultation around the deal, arguing that any such agreement requires approval by parliament.


'Shrouded in secrecy'


"The specific contract and framework details are shrouded in secrecy, remain opaque and vague to the public," the submission reads.


"Kenyans had no knowledge of the state of affairs pertaining the preliminary agreement."


On Monday, the High Court directed the respondents to be served with the application and to file their responses within 14 days.


President Donald Trump has made securing critical minerals a key pillar of Washington's Africa policy, with Kenya emerging as a priority target.

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