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EFCC arraigns Ponzi scheme operator for laundering N10bn

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EFCC arrests Edo Accountant General, others days to Obaseki’s handover
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The Economic and Financial Crimes Commission (EFCC) has arraigned one Adonu Kingsley Ifeanyi before a Federal High Court in Lagos for an alleged N10.013, 237, 842 billion money laundering scheme.

The scheme was linked to a fraudulent Ponzi operation.

Ifeanyi, operating under the guise of S. Mobile Netzone Limited, appeared before Justice Chukwujekwu Aneke on a five-count charge in suit number FHC/L/280c/2025.

EFCC’s prosecution counsel, Suleiman I. Suleiman, informed the court that Ifeanyi, claiming partnership with MTN Nigeria, committed the offenses between June 4, 2021, and July 22, 2022.

He alleged that Ifeanyi knowingly took possession of funds believed to be proceeds of unlawful activity and laundered them through accounts belonging to S. Mobile Netzone Limited and Setbiz Datalink Concept Limited.

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EFCC alleged that between June 4, 2021, and July 23, 2021, Ifeanyi took possession of N1,076,337,842 (One Billion, Seventy Six Million, Three Hundred and Thirty Seven Thousand, Eight Hundred and Forty Two Naira) through a bank account with the account name ‘S. Mobile Netzone Limited’.

The Commission also stated that the defendant, between June 2 and July 14, 2021, also took possession of N656,400,000 through the same account.

He faced further accusations of taking possession of N6,791,500,000 between January 15, 2021, and April 14, 2022, through S. Mobile Netzone Limited’s account.

The anti-graft agency also told the court that Ifeanyi took possession of N959,000,000 between March 23 and July 26, 2022, via the same account.

EFCC said the defendant took possession of N530,000,000 between March 15 and March 31, 2022, through an account in the name Setbiz Datalink Concept Limited.

According to the prosecutor, the offenses contravened Section 15(2)(d) of the Money Laundering (Prohibition) Act, 2011 (as amended), and are punishable under Section 15(3) of the same Act.

One of the counts reads: ”That you ADONU KINGSLEY IFEANYI between 4″ June, 2021 and 23 July, 2021, in Lagos within the jurisdiction of this Honourable Court did take possession of the total sum of N1,076,337,842 (One Billion, Seventy Six Million, Three Hundred and Thirty Seven Thousand, Eight Hundred and Forty Two Naira) through a bank account with account name ‘S.Mobile Netzone Limited’ domiciled in Fidelity Bank Plc., which sum you knew forms part of the proceeds of your unlawful activity to wit: stealing and you thereby committed an offence contrary to Section 15 (2) (d) of the Money Laundering Prohibition Act, 2011 as amended and punishable under Section 15 (3) of the same Act.”

When the charges were read to Ifeanyi, he pleaded not guilty.

Following his plea, the prosecution asked the court to fix a trial date and requested that the defendant be remanded in the custody of the correctional center, pending the commencement of the trial.

In response, defense counsel Chibuike Opara did not oppose the trial date but urged the court to remand his client at the EFCC detention facility until his bail application could be filed and determined.

However, Suleiman opposed the request, insisting that once a defendant is arraigned, the appropriate place of custody is the correctional center.

In his ruling, Justice Aneke ordered that Ifeanyi be remanded at the Ikoyi Correctional Center and adjourned the case to July 4, 2025, for hearing of the bail application.

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Southeast Governors will support Tinubu in 2027 — Uzodimma

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President Bola Ahmed Tinubu
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In appreciation of his developmental initiatives in the five South-East states, the governors have resolved to fully support the re-election of President Bola Ahmed Tinubu.

Although the governors belong to three separate political parties, their resolve is based on the fact that no President since 1999 has addressed the welfare of Ndigbo more than Tinubu.

Imo State Governor, Senator Hope Uzodimma, announced this in Owerri at a meeting with traditional rulers and members of the State Elders Council.

He said contrary to the grandstanding of some enemies of Ndigbo, the people are fully aware that Tinubu serves their best interests and would therefore repay his magnanimity in 2027.

Uzodimma, who is both Chairman of the South-East Governors Forum and the Progressive Governors Forum, cautioned politicians against the use of Igbo platforms to canvass propaganda that has no factual basis.

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“The Igbos are too discerning and too results-driven to trade tangible infrastructure for political speeches. The South-East will stand with the Tinubu administration that has favoured them,” Uzodimma declared.

Uzodimma said the governors had reviewed the performance of the Tinubu administration as it affects the development of the South-East and unanimously agreed that the region would continue to identify with the President and the Renewed Hope Agenda because of the tangible dividends already delivered.

The Governor said the South-East could no longer be swayed by political rhetoric when the evidence of federal intervention across the zone was visible.

“We, the five governors of the South-East, have reviewed all options and decided that we will work with President Bola Tinubu because we want to be part of Project Nigeria,” Uzodimma said.

He added that the governors would soon pay a joint courtesy visit to President Tinubu to further strengthen their partnership with the Federal Government.Geographic Reference

According to him, the decision was informed by the administration’s record of addressing long-standing developmental concerns in the South-East, including the establishment of the South-East Development Commission (SEDC), a demand that had remained unmet since the end of the civil war.

The Governor noted that President Tinubu signed the South-East Development Commission Act into law on 24 July 2024, inaugurated its governing board in February 2025 and ensured that the commission commenced operations with funding.

He also highlighted the rehabilitation and commencement of commercial operations on the Port Harcourt-Aba rail line, describing it as the first practical step towards reconnecting the South-East to the national rail network.

Uzodimma further praised the President’s approval of a $3 billion reconstruction of the Eastern Rail Corridor stretching from Port Harcourt through the South-East to Maiduguri, saying the project would significantly boost commerce and regional integration.

On road infrastructure, the governor commended the Federal Government for executing the Phase 2A and 2B access roads to the Second Niger Bridge, including the dual carriageway linking Umunya, Ogbunike, Ogidi, Nkpor and Asaba, with seven bridges along the corridor.

He also referenced the approval of the 108-kilometre Otuocha-Anam-Ibaji Road and the 150-kilometre Oba-Nnewi-Uga-Ihube/Okigwe Junction Road, projects he said would strengthen economic connectivity between Anambra, Imo, Abia and other parts of the country.

Uzodimma argued that beyond projects specific to the South-East, the region had equally benefited from national policies of the Tinubu administration, including increased allocations to states, student loan programmes, improved security efforts and fiscal reforms aimed at reducing the cost of doing business.Public Policy

“The South-East has decided. Our people judge governments by performance and not by political sentiments. The evidence is on the ground,” he said.

Turning to state matters, Uzodimma urged the Imo State Elders Council and traditional rulers to remain committed to the implementation of the state’s Charter of Equity, insisting that the law remained the foundation for lasting peace, justice and political stability in Imo.

He recalled that upon assuming office in 2020, he inherited a deeply divided state and initiated reforms aimed at restoring order, rebuilding trust and ensuring inclusiveness in governance.

According to him, the enactment of the Charter of Equity by the Imo State House of Assembly was designed to institutionalise fairness in the rotation of political power and guarantee that every part of the state had a sense of belonging.

“The Charter of Equity is real, and I need your mandate to implement it because that is what will bring lasting peace to Imo State,” he said.

The governor maintained that the next governor of Imo State must emerge in line with the Charter of Equity and possess the character, integrity and commitment required to preserve the gains recorded by his administration.

He stressed that whoever succeeds him must be God-fearing, fair-minded and committed to sustaining the principles of equity, justice and good governance rather than reversing the progress already achieved.

Uzodimma warned against attempts to undermine the Charter of Equity for personal political interests, declaring that he would personally defend the law to safeguard the future stability of the state.

“I will take the fight personally to protect the Charter of Equity. I will stop at nothing,” he declared.

The governor also advocated greater investment in skills acquisition and vocational education, saying equipping young people with practical skills remained one of the most effective ways of tackling unemployment, reducing crime and driving sustainable economic growth in Imo State.

He urged traditional rulers to continue supporting government initiatives aimed at maintaining peace, promoting development and ensuring that the state remained on the path of stability and inclusive progress.

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Gunmen kill vigilante commander, three women in Rivers

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SIT-AT-HOME: Five feared killed as gunmen  attack two Anambra communities
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Gunmen suspected to be cultists shot and killed the zonal commander of a local security outfit codenamed OSPAC in Omoku, the headquarters of Ogba/Egbema/Ndoni Local Government Area of Rivers State, identified as Ozomela Stephen Nwaocha, on Tuesday evening.

Also killed were three women, including the commander’s sister, who were with him during the attack.

OSPAC is the acronym for the Ogba/Egbema/Ndoni Local Government Area Security Planning and Advisory Committee.

The assailants reportedly attacked the vigilante commander while he was relaxing outside his compound with the women along Oba Road in Omoku.

It was gathered that the killing may have been a reprisal following a violent clash linked to a community dispute.

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A source told our correspondent that a youth meeting had been disrupted earlier on Tuesday after armed security personnel and OSPAC members allegedly stormed the venue and opened fire, leaving two youths with gunshot injuries.

Videos of the aftermath of the attack circulating on social media and seen by our correspondent on Wednesday showed multiple casualties, including the three women. (Punch)

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Deputy Speaker Kalu breaks silence on N780m Budget controversy, says Fund not meant for Churches alone

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Deputy Speaker Benjamin Kalu
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Deputy Speaker House of Representatives, Benjamin Kalu has said that the N780m (seven hundred and eighty million naira) featured in the 2026 Federal budget was not solely earmarked for procurement of church musical instruments in his Bende Federal constituency, as being circulated in news.

Kalu was reacting to the social media reports which alleged that one billion naira had been set aside to purchase church musical instruments in the Deputy Speaker’s constituency in Bende.

A statement issued on Wednesday by Levinus Nwabuhiogu, the Chief Press Secretary to the Deputy Speaker, said that the actual amount involved in the budget proposal was N780 million after Vat and other tax deductions.

He said that more than 130 churches in Bende were to receive between N5m and N6m each as support for first phase youth re-orientation and social support programmes delivered evangelistically through faith-based organizations in Bende federal constituency of Abia State.

The Deputy Speaker noted that the equipment of churches was to expand existing youth engagement platforms focused on character reform, discourage narcotics use, sexual offense and violent crimes among the youths.

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“The funds are intended to support the purchase of evangelical instruments and public address systems to promote campaigns against vices like the spread of narcotics, sexual offences, violent crimes while instilling discipline, values, peace, and character development among young people in the communities”, the statement said.

Kalu, who said that the N780 million fund is yet to be released because the 2026 budget had not been implemented, noted that selected churches would be credited when procurement processes are concluded.

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