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EFCC Arraigns Lawyer For Allegedly Defrauding Victims Of N1.3bn In Uyo

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The Uyo Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has arraigned a lawyer, Alexander Ozougwu, before the Federal High Court in Uyo, Akwa Ibom State, for allegedly defrauding his victims of N1.323 billion.

The EFCC’s Head of Media & Publicity, Mr. Dele Oyewale, in a statement released to newsmen in Uyo, noted that Ozougwu allegedly committed an offence punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act 2022.

According to Oyewale, “The Economic and Financial Crimes Commission, EFCC, Uyo Zonal Directorate, on Wednesday, February 12, 2025, arraigned legal practitioner Barrister Alexander Uchenna Ozougwu before Justice Sergius Onah of the Federal High Court sitting in Uyo, Akwa Ibom State, for allegedly defrauding his victims to the tune of N1,323,850,000.00 (One Billion, Three Hundred and Twenty-Three Million, Eight Hundred and Fifty Thousand Naira) through a bogus foreign exchange investment scheme.”

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He was arraigned on a six-count charge bordering on obtaining money by false pretence, in contravention of the provisions of Section 18(2)(d) of the Money Laundering (Prevention and Prohibition) Act 2022.

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One of the charges against him reads: “That you, Alexander Uchenna Ozougwu, sometime in September 2024 in Nigeria, within the jurisdiction of this Honourable Court, did take possession of the total sum of Two Hundred and Sixty-Eight Million, Eight Hundred and Fifty Thousand Naira (N268,850,000) through a bank account with account name—STARLIGHT ATTORNEYS—which you knew formed proceeds of an unlawful act, to wit: obtaining money by false pretence, and thereby committed an offence contrary to Section 18(2)(d) of the Money Laundering (Prevention and Prohibition) Act 2022 and punishable under Section 18(3) of the same Act.”

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Another charge reads: “That you, Alexander Uchenna Ozougwu, sometime in July 2024 in Nigeria, within the jurisdiction of this Honourable Court, did take possession of the total sum of Two Hundred and Thirteen Million Naira (N213,000,000) through a bank account with the account name STARLIGHT ATTORNEYS, which you knew formed proceeds of an unlawful act, to wit: obtaining money by false pretence, and thereby committed an offence contrary to Section 18(2)(d) of the Money Laundering (Prevention and Prohibition) Act 2022 and punishable under Section 18(3) of the same Act.”

The defendant pleaded not guilty to the charges when they were read to him. In response, the prosecution counsel, Joshua O. Abolarin, requested the court to remand the defendant at a correctional center and set a date for trial. However, the defense counsel, C. M. Onuchukwu, informed the court of a bail application filed on self-recognizance and assured that the defendant would be available for trial.

After listening to both counsels, Justice Onah granted bail in the sum of N500,000,000 (Five Hundred Million Naira) with two sureties in like sum. The sureties must be civil servants of grade level 12 and above and must own landed properties within the jurisdiction of the court.

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The court also ordered the defendant to deposit his international passport and two recent passport photographs with the court.

Oyewale disclosed that Ozougwu was arraigned following complaints from four petitioners who alleged that he presented himself as a registered Bureau de Change operator with the Central Bank of Nigeria (CBN). Gaining their trust, he allegedly collected the passwords to their betting accounts, promising to help them fund their accounts but instead diverting the funds.

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Investigations revealed that the defendant was operating a Ponzi scheme under the guise of exchanging dollars for his victims and channeled most of the funds to various betting platforms. A total of N1,323,850,000.00 was discovered to have been diverted from the accounts of the petitioners,” Oyewale stated.

Justice Onah adjourned the case to March 31, 2025, for trial.

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BREAKING: BIZARRE! Millions Lost As Delta Man Sets Own Shop Ablaze

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A yet-to-be-identified man suspected to have taken hard drugs on Tuesday night set his own furniture shop ablaze in the Saniko community, Agbarah-Otor, in Ughelli North Local Government Area of Delta State.

The man, believed to be in his 40s, our source said set the furniture shop containing modern furniture worth millions of naira ablaze, and chased anyone who attempted to intervene with matchett until he was overpowered by the community youths.

Our source who does not want his name in print narrated via the phone: “It actually happened this night. Nobody knows what fell on him to have set his own shop ablaze, but the belief his that he must have taken some hard drugs.

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“The man should be in his 40s. He set the shop ablaze, and when people attention was drawn to it, they rushed there but he chased them with cutlass. He was chasing people with cutlass until the youth mobilised and overpowered him, and as I speak with you, he has been tied down, naked.

“I don’t know his name, and nobody has identified with him as a relation, but the point is, millions have been lost. All the modern furniture in the shops have turned to ashes. The shop is completely burnt down.”

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Contacted on the phone, Delta State Police Command Public Relations Officer, Bright Edafe said the Command was not aware of the incident.

He said: “Inasmuch he set his own shop ablaze, and nobody died, nobody will come to the Police to report it. And since nobody will come to report such an incident to the Police, it’s assumed the Police are not aware.”

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Seven Journalists On Their Way To Colleague’s Marriage, FG Reacts

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The Nigerian government, through the Minister of Information and National Orientation, Mohammed Idris, has expressed deep shock and sorrow over the tragic death of seven journalists who were confirmed killed in a lone road crash in the Gombe South area of Gombe State on Monday.

The incident occurred on Monday evening as the journalists were returning from a wedding ceremony in the Gombe South Senatorial District. They were said to have traveled in solidarity with a colleague from the Nigerian Television Authority, NTA, who was getting married.

According to preliminary information from the Gombe State Sector Commander of the Federal Road Safety Corps, Samson Kaura, the crash was fatal.

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The Minister described the tragedy as a heartbreaking loss to the media community and the nation, noting that the journalists were committed voices who informed the public with courage, integrity, and professionalism.

This is a harrowing moment. Nigeria has lost dedicated voices who informed, educated, and stood for truth. Their passing is a heavy blow to us all,” he said.

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The Minister extended his condolences to the Nigeria Union of Journalists (NUJ), the Gombe State Council, and especially to the families, friends, and colleagues of the deceased. He prayed that God would grant them the strength to bear the painful loss.

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Our thoughts and prayers are with their families and loved ones. May Almighty God grant them comfort and grant the souls of the departed eternal rest,” he added.

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We stand in solidarity with the NUJ and the entire media community at this difficult time. We must continue to work together to improve safety measures for those who serve the nation daily,” he said.

He assured that the Federal Government stands with the bereaved families and the media community during this moment of grief. May the souls of the departed rest in perfect peace.

 

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VIDEO: Chaos As Last-minute Shoppers Overwhelm Lagos Balogun Market

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Large crowds on Tuesday overwhelmed Balogun Market on Lagos Island as residents trooped out in their numbers for last-minute year-end shopping, crippling movement around the commercial hub.

A viral video making the rounds online showed extreme congestion within and around the market, with traders and shoppers barely able to move as they jostled for limited space in one of Lagos’ busiest trading centres.

The footage captured scenes of tightly packed walkways and stalled human traffic, as buyers scrambled to complete end-of-year purchases ranging from clothes and shoes to household items.

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The gridlock is largely being blamed on Nigerians’ long-standing culture of last-minute shopping, often described as “panic buying,” where many delay festive purchases until the final days of the year.

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Balogun Market, known for its wholesale and retail activities, traditionally experiences a spike in patronage toward the end of the year.

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As of the time of reporting, no incidents had been confirmed, though the situation highlights the recurring challenge of overcrowding during peak festive periods in Lagos.

Watch the video below:

 

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