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EFCC Arraigns Woman for Fake N179m Investment Scheme

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Ikogwe Mercy Nkechi EFCC

By Modupe Gbadeyanka

A woman known as Ms Nkechi Mercy Ikogwe has been arraigned before Justice E.A Obile of the Federal High Court sitting in Port Harcourt, Rivers State.

The suspect was brought before the judge on Monday, July 20, 2020, alongside Elites Finance Investment Limited and Efinc Global Investment Limited by the Economic and Financial Crimes Commission (EFCC) over an alleged fake investment scheme worth N179 million.

They were accused of conspiring and obtaining money by false Pretence contrary to Section 1(1) (a) of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14, 2006 and punishable under Section 1 (3) of the same Act.

Ms Ikogwe ran into trouble when the commission received a report about the defendant and two others, accusing them of inducing their victims into participating in a fraudulent investment scheme with a fake promise of 15 per cent return on investment.

Over N15 million was allegedly paid by the unsuspecting ‘investors’ into the defendant’s accounts, Nkechi Mercy Ikogwe with account numbers 2087478165 domiciled in Zenith Bank and Miss Joy Okari Ibiala 2099253758 domiciled in UBA.

Further investigation revealed that the defendant spent a total sum of N139.7 million collected from subscribers to play sport betting and also paid a tithe of N1 million to a leading Pentecostal church in Port Harcourt.

After the three-count charges were read to the suspects, the defendants pleaded “not guilty”.

“That you Nkechi Mercy Ikogwe, Elites Finance Investment Limited and Efinc Global Investment Limited sometime in 2019 in Port Harcourt, Rivers State within the jurisdiction of this honourable court with intent to defraud, obtained the sum of 179,326,386.62 by inducing unsuspecting members of the public to invest with your companies: Elites Finance Investment Limited and Efinc Global Investment Limited, assuring them under a false pretence of making 15 per cent interest on all investment made, a representation you knew to be false, and thereby committed an offence contrary to Section 1(1) (a) of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14, 2006  and punishable under Section 1 (3) of the same Act,” one of the counts read.

In view of the plea by the defendants, prosecuting counsel, K. W Chukwuma-Eneh prayed the court to fix a date for commencement of trial.

But counsel to the defendants, G. N Godwins moved an oral application for the bail of the defendants which was opposed by the prosecution on the ground that the application must be in writing and properly addressed to the court.

Justice Obile ordered that the first defendant be remanded in prosecution’s custody and adjourned the matter till October 19, 2020, for determination of the bail application.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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VDR, ECDIS Data Retrieved as NSIB Probes Maersk Vessel Collision at Bonny Anchorage

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Maersk Vessel Collision

By Adedapo Adesanya

The Nigerian Safety Investigation Bureau (NSIB) has commenced a forensic investigation into the collision between the container vessel MV Maersk Valparaiso and the oil tanker MT Lady Martina at Bonny Anchorage in Rivers State, following the download of Voyage Data Recorder (VDR) and Electronic Chart Display and Information System (ECDIS) data from the vessel for navigational analysis.

The bureau’s Director of Public Affairs and Family Assistance, Mrs Funke Adebayo Arowojobe, explained that in line with the International Maritime Organisation (IMO) Casualty Investigation Code and international obligations, NSIB had formally notified the Transport Safety Investigation Bureau (TSIB) of Singapore as a substantially interested State.

The incident, which occurred on May 20, 2026, has been classified by the bureau as a Very Serious Marine Casualty (VSMC).

She also said that NSIB activated its marine occurrence response protocols immediately after receiving notification of the incident, noting that the investigation Go-Team was deployed to Onne and Bonny on May 22 to commence evidence preservation and preliminary investigative activities.

The bureau disclosed that investigators boarded both vessels and conducted interviews with their masters and key crew members, while operational records and navigational data linked to the incident were secured.

Also, the director stressed that the bureau had commenced collaborative engagement with relevant local and international stakeholders as part of the investigation process, assuring the public and maritime stakeholders that the investigation would be conducted with professionalism, independence and thoroughness, stressing that the objective was to determine the causal and contributory factors of the occurrence and enhance maritime safety.

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Family Confirms Abduction of Adelabu’s Sister in Ibadan

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adelabu's sister

By Aduragbemi Omiyale

The abduction of the younger sister of the immediate past Minister of Power, Mr Adebayo Adelabu, has been confirmed by the family.

The former Minister’s sibling, Mrs Olaide Busayo Adegoke John-Paul, was kidnapped on Wednesday morning in Ibadan along with her twin sons.

She was picked up by the suspected gunmen in her red Hyundai Sonata on a street in the ancient city, causing apprehension in the area.

In a statement issued by the family today, the 43-year-old woman was forcefully taken when driving her children, identified as Peter and Paul, to school.

The family said the incident was immediately reported to relevant security and law enforcement agencies, which have since commenced investigations and rescue efforts.

It was stated that she recently retired after a career spanning the Central Bank of Nigeria and First Bank Pension Custodian and had relocated to Ibadan with her children while preparing to join her husband in the United States.

The statement said security agencies had swung into action and were working to secure the safe release of the victims and apprehend those responsible for the abduction.

Members of the public have been urged to provide any useful information that could lead to the rescue of the kidnapped victims.

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Dangote Refinery Has Sufficient Jet Fuel for Global Markets—CEO David Bird

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david bird dangote refinery

By Adedapo Adesanya

The chief executive of Dangote Refinery, Mr David Bird, has said the 650,000-barrel-per-day plant has a surplus of jet fuel to serve the global markets, amid continued disruptions caused by tensions in the Middle East.

“We’re very grateful ​to be seen as a reliable, high-quality and dependable ⁠supplier able to land our product competitively all over the ​world,” Mr Bird said at the S&P Global Energy Middle East ​Petroleum and Gas Conference in London, as per Reuters.

Jet fuel has been one of the fuels most acutely affected by the Iran war and closure of the Strait of ​Hormuz, where over 20 per cent of the world’s crude and Liquified Natural Gas (LNG).

The development has led to market opportunities for refiners based outside the Gulf region, such ​as Dangote, to supply global markets.

Mr Bird said the refinery is ‌currently ⁠running flat out at nameplate capacity and is planning what the executive described as a “ruthless replication” project to double capacity.

“We will bring 700,000 barrels per day of fully complex refining capacity on stream by ​the end of ​2028,” Mr Bird ⁠said.

He added that long-lead items have been purchased and the company is in the process of ​awarding construction contracts.

The group could then lift refining ​capacity ⁠to 2.1 million barrels per day with another refinery planned in East Africa, helping it to become a significant player in crude and refined products ⁠flows, ​Mr Bird said.

He also said the Dangote Refinery, which commenced operations in 2024, has helped Nigeria’s domestic market, with the country having gone from fuel scarcity ​to absolute fuel abundance since the $20 billion refinery came online.

Last month, Mr Bird revealed that the refinery was the world’s largest exporter of jet fuel in April, with S&P Global Commodities at Sea data showing that the refinery recorded a surge in aviation fuel exports after the escalation of conflict in the Middle East altered established shipping and supply patterns across key markets.

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