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Court Convicts Man, Company Over $80,000, N953 Million Fraud

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Justice Modupe Nicole-Clay of the Lagos State High Court, Ikeja, on Wednesday, January 21, 2026, found Victor Ogiemwonyi and his company, Partnership Securities Limited, guilty of stealing N953,535,861.57 (Nine Hundred and Fifty-Three Million, Five Hundred and Thirty-Five Thousand, Eight Hundred and Sixty-One Naira, Fifty-Seven Kobo) and $80,000 (Eighty Thousand United States Dollars).

The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 1, had arraigned the defendants on two counts of stealing, contrary to Section 285(1), (9)(b) and (c) of the Criminal Law of Lagos State, 2011.

The case stemmed from a petition filed in October 2016 by Mr. Arnold Onyekwere Ekpe through his lawyer, Margaret Onyema. Ekpe alleged that he instructed the defendants to sell 96,077,872 units of his Ecobank Transnational Incorporated (ETI) shares, which were sold for N1,296,885,311.02.

According to the petition, the defendants only remitted N300 million to Ekpe and allegedly diverted the remaining proceeds for personal use. Following investigation, they were charged with stealing both the naira and dollar portions of the proceeds.

At trial, the prosecution, led by Ola Sesan, called five witnesses and tendered 67 exhibits, all admitted by the court. The defence presented three witnesses, including Ogiemwonyi himself.

Count One:
“Victor Ogiemwonyi and Partnership Securities Limited, between June 2016 and September 2016 in Lagos, dishonestly stole N953,535,861.57, being part of the proceeds from the sale of 96,077,872 Ecobank Transnational Incorporated shares, property of Mr. Arnold Onyekwere Ekpe.”

Count Two:
“Victor Ogiemwonyi and Partnership Securities Limited, between June 2016 and July 2016 in Lagos, dishonestly stole $80,000, forming part of the accrued dividends on 96,077,872 Ecobank Transnational Incorporated shares, property of Mr. Arnold Onyekwere Ekpe.”

Delivering judgment, Justice Nicole-Clay found both Ogiemwonyi, Chairman of Partnership Securities Limited, and the company guilty on all counts. The court imposed fines of N10 million on Ogiemwonyi and N20 million on the company, in addition to ordering full restitution of the stolen funds in both naira and dollars to the petitioner.

This judgment underscores the judiciary’s commitment to tackling corporate fraud and ensuring that victims are fully compensated.

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Governor Yusuf Approves New Appointments, Promotions

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Kano State Governor, Abba Kabir Yusuf, has approved a new round of appointments and promotions with immediate effect, as part of efforts to strengthen governance and enhance institutional performance in the state.

The development was announced in a statement released on Monday by the governor’s spokesperson, Sunusi Bature Dawakin Tofa.

According to the statement, Abubakar Ibrahim Matawalle has been appointed as the Acting Director-General of the Kano State Pilgrims Welfare Board. Matawalle, a retired permanent secretary, previously served in a similar role and also held office as the board’s executive secretary. He was described as a seasoned administrator who rose through the civil service ranks from Assistant Secretary to Permanent Secretary before retiring in 2014, after eight years in the position. The statement noted his strong track record in the effective management of Hajj operations.

Governor Yusuf also approved the promotion of Yusuf Mukhtar to the rank of Permanent Secretary.

In another appointment, Barrister Rahama Malam Alhaji was named Provost of the Kano State Anti-Corruption Institute. She was praised as an accomplished legal practitioner with over seven years’ experience spanning litigation, corporate law, electricity law, regulatory compliance and dispute resolution. The statement highlighted her professional background across both public and private sectors, including her time at the Kano Electricity Distribution Company and her role as Head of the School of Law at Maryam Abacha American University of Nigeria. She holds a Master of Laws degree in International Law and was credited with pioneering initiatives such as the establishment of a Law Clinic and a Student Bar Association.

The governor further approved the promotion of veteran Kannywood actress Aina’u Ade from Special Assistant to Senior Special Assistant on Kannywood Affairs, citing her impressive performance and dedication in her previous assignment.

The statement said the latest appointments and promotions reflect the administration’s resolve to reinforce governance structures and ensure the efficient management of public institutions. Governor Yusuf urged the beneficiaries to justify the confidence reposed in them through diligence, transparency and unwavering commitment to the Kano First Agenda.

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NIMR Warns Public Over Fake LinkedIn Account Impersonating DG

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The Nigerian Institute of Medical Research (NIMR) has issued a public alert over a fraudulent LinkedIn account impersonating its Director-General, Professor John Oladapo Obafunwa, urging Nigerians to disregard and report any communication linked to the fake profile.

In a statement released on Saturday by the Institute’s Media Consultant, Mr Sam Eferaro, NIMR disclosed that the impostor account has been sending misleading messages to unsuspecting individuals, falsely offering procurement opportunities, contracts and other business-related engagements.

According to the statement, the attention of the Institute was drawn to the existence of the fake LinkedIn profile posing as the Director-General, adding that all messages emanating from the account are entirely fraudulent.

NIMR cautioned members of the public against engaging with any messages purportedly sent by Professor Obafunwa through LinkedIn or other unofficial platforms, particularly those soliciting business dealings or financial commitments.

The Institute further emphasised that all legitimate interactions with vendors, contractors, partners and the public are conducted strictly through recognised and official institutional channels, in line with established public service procedures.

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PFN Condemn Calls for INEC Chair’s Removal Over Alleged Genocide Remarks

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The Pentecostal Fellowship of Nigeria (PFN) has dismissed calls by the Supreme Council for Shari’ah in Nigeria demanding the removal of the Chairman of the Independent National Electoral Commission (INEC), Prof. Joash Amupitan, over comments he allegedly made concerning genocide.

In a statement issued on Sunday and signed by its National Secretary, Bishop David Bakare, the PFN described the demand as unfounded and unjustifiable, stressing that Prof. Amupitan, like every Nigerian, is constitutionally entitled to express opinions on matters of national interest, regardless of his public office.

The Fellowship maintained that the remarks attributed to the INEC chairman had no link to his official duties, noting that they were unrelated to elections or electoral processes, which fall within the scope of his professional responsibilities.

“We strongly oppose such calls because Prof. Amupitan, as a citizen of Nigeria, has the right to speak on issues he perceives as affecting the nation, irrespective of his appointment or position,” the statement said.

PFN further condemned suggestions that the INEC chairman should be removed on the basis of personal views expressed outside his official mandate, warning that such actions could set a dangerous precedent where public officials are penalised for holding or expressing independent opinions.

The organisation also cautioned against interpreting national discourse through religious perspectives, arguing that such an approach risks deepening societal divisions and threatening peaceful coexistence.

“We must guard against profiling individuals or judging them based on religious considerations. Prof. Amupitan has the right to express his views, and this should not come at the expense of his office,” the statement added.

The Fellowship urged stakeholders to exercise restraint and mutual respect in addressing sensitive national issues, emphasising that unity, fairness, and peaceful engagement must remain central to public discourse.

PFN reaffirmed its commitment to justice and national cohesion, calling on Nigerians to uphold democratic values in responding to differing opinions on matters affecting the country.

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