EFCC Arraigns 2 For Attempting To Defraud Bank Of €49m

The Economic and Financial Crimes Commission (EFCC) has arraigned two suspected fraudsters, Abel Sokari and Nkiruka Chukwuma, before the Lagos State Special Offences Court in Ikeja’ Lagos for allegedly attempting to obtain €49,000,000 under false pretences from First Bank.

The EFCC docked Sokari and Chukwuma alongside their company, Zakah Global Investment Limited, before Justice Mojisola Dada on a six-count charge of attempted fraud, possession of fraudulent documents and forgery.

The anti-graft agency told the court that the defendants committed the offences in Lagos on or around May 19, 2025.

The prosecutor, Hanatu Kofarnaisa, also informed the judge that the defendants attempted to fraudulently obtain €49,000,000 from First Bank of Nigeria by falsely claiming that Bayan Investment Bank and Hedge Fund Statutory Trust had transferred the said amount into account number 2046430791, which belongs to Zakah Global Investment Limited at First Bank.

Kofarnaisa further claimed that in April 2024, in Lagos, one of the defendants was found in possession of a document containing false pretenses, specifically, a letter purportedly from the law office of Steven H. Sado, P.C., who was the lead defence attorney for U.S. President Donald Trump, which he allegedly knew to be false.

The defendants, however, pleaded not guilty to the charge.

Following their pleas, the prosecution counsel, Kofarnaisa, urged the court to fix a trial date and remand the defendants in the custody of the Nigerian Correctional Services pending the determination of the case.

However, the defence counsel, Clement Onwenwnor (SAN) and Laolu Owolabi (SAN), urged the court to refuse the EFCC’s requests because they have filed separate bail applications on behalf of their clients.

They urged the court to grant the defendants bail on liberal terms, arguing that the offences were bailable, adding that the suspects were ready for trial.

The two senior lawyers also volunteered to take custody of the defendants pending when their bail conditions would be finalised.

In her ruling, Justice Dada admitted the two defendants to bail in the sum of N500,000, with one surety in a similar sum each.

The judge also temporarily released the defendants to their respective counsels pending the perfection of conditions, which she ruled must be met within one month.

The judge subsequently adjourned the matter to October 28 for the commencement of trial.