Alleged $1.5m Fraud: Court Remands Bizman In Interpol Custody

Justice Mojisola Dada of the Special Offences Court in Ikeja has remanded a businessman, Ufoma Immanuel, accused of $1.5 million oil fraud, in the custody of the International Police (INTERPOL).

Justice Dada gave the order after Immanuel pleaded not guilty to a two-count charge of obtaining money under false pretences and forgery brought against him by the Economic and Financial Crimes Commission (EFCC).

The defendant, who was docked alongside his company, Intermediate Investment Holdings Limited, was accused of obtaining $1.5 million from Adebisi Adebutu of R28 Holdings Ltd, between April 2022 and October 2023.

The anti-graft agency had further alleged that the money was purportedly for an investment in a petroleum project with promises of repayment, development fees, and share allocation in Intermediate Investment Holdings Ltd.

The EFCC also accused the defendant of forging a “Term Sheet” document, supposedly signed by Sherrif Oluwo and Olaniran Osotuyi, to facilitate the scam.

The EFCC counsel, Babatunde Sonoiki, maintained that the offences violate Section 1(1)(a) and 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and Section 363 of the Lagos State Criminal Laws, 2015.

Sonoiki had earlier urged the judge to fix a trial date and asked the court to remand the defendant with Interpol until investigations are complete.

He informed the court that after Interpol’s investigation, the defendant will be remanded at the appropriate correctional facility.

Sonoiki also drew the court’s attention to an incident that occurred on March 2, 2926, during the last hearing, in which the defence counsel, Oluseun Awonuga (SAN), allegedly assaulted his colleague, Emenike Mgbemele, on the court premises while serving the defendant with court papers.

“My lord, the learned silk, physically assaulted my colleague on his way to serve the defendant, which is very sad, especially for a senior advocate. We have a video of the incident and intend to present it in court,” Sonoiki stated.

Awonuga did not respond to the assault allegation but raised a preliminary objection and submitted a written address dated 5 January, urging the court to dismiss the prosecution’s counter-affidavit.

He argued that a Federal High Court ruling states the EFCC should not arrest the defendant and claimed the EFCC ignored that order.

In response, Sonoiki noted that the ruling pertained to a motion that had earlier been withdrawn and shouldn’t be before the court now.

His 21-paragraph counter-affidavit, dated February 9, 2026, asked the court to dismiss the preliminary objections, emphasising that the case was a civil matter and that criminal proceedings could proceed simultaneously, citing Supreme Court rulings.

“We urge the court to dismiss this application and proceed with an accelerated hearing,” Sonoiki submitted.

After listening to the lawyers, Justice Dada adjourned the case to May 7 for ruling.

She also ordered that the defendant remain with Interpol until investigations are complete, after which he will be remanded at a correctional facility pending bail.