
News
Ponzi scheme: Court seizes N6.6bn Livingtrust shares, N42.4m linked to Cititrust
The court also ordered the forfeiture of N42,461,096.66 and $26.44, all traced to Cititrust Holdings Plc and its subsidiaries.
The ruling, delivered on Tuesday, April 15, 2025, followed a motion filed by the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission, through its counsel, Ahmad A. Usman.
According to a statement posted on the EFCC’s official X (formerly Twitter) handle on Wednesday, the shares and funds were found to have been acquired with proceeds from fraudulent investment activities.
“The shares were initially purchased from Osun State Government by Cititrust, using some SPVs and later harmonized and transferred to the name of Cititrust Holdings Plc,” the statement read.
The EFCC noted that the commission had published the interim forfeiture order in a national newspaper, in line with the court’s directive, to allow any interested parties to come forward and show cause why the assets should not be permanently forfeited.
“Investigation revealed that Cititrust Holdings Plc and its subsidiaries operated as a Ponzi scheme, defrauding several unsuspecting investors,” the EFCC said in the statement.

“The properties were found to have been purchased with several investors’ funds.”
Cititrust Holdings Plc had opposed the EFCC’s application for final forfeiture through a motion and affidavit. However, the court dismissed Cititrust’s claims and upheld the EFCC’s arguments.
Justice Ogazi, in the ruling, held that the EFCC had provided sufficient evidence linking the assets to fraudulent activities and ordered that the proceeds be paid to identified victims of the scheme.
“The victims be paid what is due to them and the remainder, if any, be forfeited to the Federal Government of Nigeria,” the judge ruled.
The Commission reaffirmed its commitment to ensuring justice for victims of financial crimes, stating: “The EFCC remains resolute in its fight against economic and financial crimes and will continue to pursue justice on behalf of all Nigerians defrauded by criminal investment schemes.”
PUNCH
News
FCT police arrest suspected k!dnappers in viral video wearing military camourflage and brandishing AK-47 rifles
The FCT police command have arrested suspected k!dnappers seen in a viral video openly brandishing AK-47 rifles, ammunition, and walkie-talkies, while dressed in military camouflage.
Confirming their arrest to newsmen, the FCT Commissioner of Police, CP Ahmed Sanusi, said immediately he received the viral video and pictures, he directed a detailed forensic analysis into the origin of the content and ordered the immediate arrest of the suspects.
Sanusi mentioned that following digital forensic analysis and actionable intelligence, he directed operatives of the FCT Police VCRU Sector 5 and personnel from Zuba Division, led by the DPO, CSP Ogu Caleb Ikechukwu, on a coordinated operation at Runji Village, Zuba, on May 25 at about 3:22am, where three suspects featured in the videos were arrested at their hideout.

He gave the names of the suspects as Umar Babangida, 25 years old; Adamu Yeti, 22 years old; and Yahaya Idris, 24 years old, all residents of Rijana, Kaduna State.
The police boss said investigations revealed that the suspects had previously been in possession of the AK-47 rifles, which were obtained from their gang leader identified only as “Esco” from Rijana, Kaduna State who is currently at large.

He mentioned that further investigations also led to the recovery of additional videos and photographs from the suspects’ mobile phones showing them dressed in military camouflage while brandishing AK-47 rifles and carrying walkie-talkies.
The suspects are currently in custody undergoing further investigation, while efforts are ongoing to apprehend Esco the gang leader and other members of the gang who are at large and recover the firearms.
News
Political Rallies: No market closure – Enugu Govt warns
The Enugu State Government has warned against an alleged plan by some market leaders to shut down major markets within the state capital on Saturday to show support during a rally backing reelection of Governor Peter Mbah and President Bola Tinubu.
The government stated that such a move contradicts the Mbah Administration’s determined effort to boost investment, business and productivity in the state, and therefore does not have the government’s blessing.
The government made its position known in a statement issued by the Commissioner for Information and Communication, Dr. Malachy Agbo, on Friday.
It said that people should feel free to go about their businesses, a predisposition it said prompted the decision of Mbah Administration to end illegal Monday sit-at-home effective June 5, 2023.
The statement equally maintained that political association remains an individual right and choice, saying participation in the Saturday rally and subsequent rallies by any group should never truncate businesses or involve any form of compulsion.
“The attention of the Enugu State Government has been drawn to an alleged plan to shut markets in the state capital as a demonstration of solidarity with the Enugu East zonal rally to drum up support for His Excellency, President Bola Ahmed Tinubu, GCFR, and His Excellency, Governor Peter Mbah, ahead of the 2027 general election.

“While the government appreciates the enormous demonstration of goodwill by traders across the state, it frowns, however, at any attempt by any market leader to shut down major markets in the Enugu East Senatorial District on account of the planned rally.
“This is not only contrary to the administration’s vision and drive to grow Enugu State’s economy from $4.4 billion to $30 billion, and also to position the state as the preferred destination for investment, business, tourism and living, but also the decision of the administration to ban illegal sit-at-home effective June 5, 2023.
“Furthermore, the 1999 Constitution (as amended) guarantees freedom of association and assembly. Thus, nothing should be seen to detract from these rights in this or future rallies by any group whatsoever.
“For emphasis, political participation should be voluntary and without any attempt to deny the people access to markets or other public spaces where they earn their daily living.
“Therefore, members of the public, particularly leaderships of various markets in the state should take note, please, as government will not hesitate to impose sanctions on any action to the contrary,” the statement read.
DR. MALACHY AGBO
Commissioner for Information and Communication
Enugu State
05/06/2026
News
Security guard kidnaps employer’s two children, demands ransom
A private security guard has escaped with two kids from his employer in Minna, with the police suspecting abduction.
The security guard, named Sani Abdulrahaman, a Fulani by tribe, on Sunday, reportedly took Umaru and Anas, both six years old, on Sallah picnic without the knowledge of their father, Alhaji Danjuma, a businessman, and failed to bring them back home.
The father of the children raised the alarm asking the public and security agencies to help him locate the fleeing security guard and his children.
Danjuma said someone called him on Sunday evening and said he was in Erena forest in Shiroro Local Government Area with the children.
According to him, the caller asked for undisclosed ransom before his children who were in their custody would be released.
When contacted, Niger State Command Police Public Relations Officer, SP Wasiu Abiodun, confirmed the incident, which he said occurred about one o’clock on Sunday, May 31.

Abiodun explained that the security man pretended that he was taking the children for Sallah celebration in the town, but did not return.
He said the police suspected abduction but disclosed that “investigation has commenced and efforts to locate the children are ongoing.”
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