The Economic and Financial Crimes Commission (EFCC) has secured the conviction of Ugenyi Kalu, a former banker, for fraud.
The Special Offences Court sitting in Ikeja, Lagos, sentenced Kalu to four years and two months in prison.
The ruling was delivered by trial judge, Justice Rahman Oshodi.
Kalu, who served as the Head of the Lagos Region at the Nigerian Export-Import Bank (NEXIM), was found guilty on four counts of official corruption and gratification. He was convicted of receiving a N4 million bribe from one Obi Ogoh in connection with a loan granted to Sevirg AgroAllied Mills Ltd by NEXIM Bank.
According to a statement posted on the EFCC’s official X handle on Tuesday, Kalu’s actions violated Section 8(1)(a) of the Corrupt Practices and Other Related Offences Act, 2000, which criminalises the receipt of gratification by a public official.
The anti-graft agency arraigned Kalu on a five-count charge, to which he pleaded not guilty, prompting a full trial. During the proceedings, EFCC prosecutor, G.C. Ofulue, presented six witnesses, including two of Kalu’s former colleagues at NEXIM Bank, who testified against him.
Delivering the judgement on February 12, 2025, Justice Oshodi ruled that the prosecution had proven its case beyond reasonable doubt. “The evidence presented in court establishes beyond doubt that the defendant engaged in corrupt practices,” the judge declared.
Kalu was sentenced to four years and two months imprisonment. However, the court ruled that he could alternatively pay a fine of N20.85million.
We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →
Join Our WhatsApp Channel
