The Economic and Financial Crimes Commission (EFCC) on Monday arraigned a businessman, Oguibe Nwachukwu, and his company, Wifamapp Royalty Global Limited, before the Lagos State Special Offences Court in Ikeja over an alleged N511,378,221.
The EFCC docked Nwachukwu and the company before Justice Rahman Oshodi on a 13-count charge of money laundering, retention of proceeds from criminal conduct, and theft.
The anti-graft agency’s lawyer, Ahmed Usman, told the judge that the defendants dishonestly converted $36,000, which was the property of Travelstar Web Logistics Limited and entrusted to his care as its accountant, to their own use.
Usman also claimed that the defendants, between August 2017 and September 2017, disguised and concealed the true origin of an aggregate sum of N7,280,500 from the Travelstar Web Logistics Limited account to the Wifamapp Royalty Global Limited’s STANBIC IBTC account number 0022152478 and then to his personal Guarantee Trust Bank account, which he used for online business, particularly cryptocurrency investment.
The lawyer also informed the court that the first defendant had a document containing false pretences, namely a letter purportedly from the law office of Steven H. Sado, P.C., the lead defence attorney for U.S. President Donald Trump, which you knew to be false.
He maintained that the offences violated Section 280(1)(b), Section 287 and 332(1) of the Criminal Laws of Lagos State 2015, which are punishable under Section 332 of the Criminal Laws of Lagos State 2015.
The defendants pleaded not guilty to all charges when read to them.
Based on their pleas, defence counsel Usman urged the court to set a trial date and requested that the court remand the defendants into EFCC custody due to their ill health.
However, the prosecution counsel, Uzozie, told the judge that his client would prefer to be detained.
Justice Oshodi, in a short ruling, ordered that the defendants be remanded in a maximum-security correctional facility and adjourned the case to October 17, 2025, for the commencement of the trial.
Bosun Tijani, Alake, NITDA boss, to headline pre-event virtual forum ahead of FIN Web Conference & AI Expo 2025 at Silicon Valley
The Minister of Communications and Digital Economy, Dr Bosun Tijani; the Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi; Lagos State Commissioner for Innovation, Science & Technology, Olatunbosun Alake, and other dignitaries will lead the discussants as the Foreign Investment Network (FIN) hosts a high-impact Pre-Event Virtual Forum in the build-up to the FIN Web Conference & AI Expo 2025.
It is instructive to note that the FIN Web Conference & AI Expo will take place on November 16–18, 2025, at the Computer History Museum, Silicon Valley, Northern California, United States.
The event’s theme is “Igniting the Future—AI Innovations Shaping a Sustainable Digital Economy, Connecting to Africa,” and the pre-virtual forum will take place on Friday, October 10, 2025, between 5pm and 6pm GMT.
The FIN’s Director, International Communications, Mr Ayo Ayeni, disclosed this in a statement made available to journalists on Monday.
According to Ayeni, the session will spotlight the intersection of AI, investment, sustainability, and Africa’s digital future, convening global tech leaders, investors, innovators, and policymakers for one power hour of insight and action.
Other speakers at the event include Eric Schmidt (former CEO of Google), Sabeer Bhatia ( co-founder of Hotmail), Mark Minevich (global AI strategist and venture advisor), and Mehdi Paryavi (Chairman of IDCA, data-centre standards leader), who was hosted by Dalith Steiger (Co-Founder of SwissCognitive).
The event’s Host and moderator, Dalith Steiger (SwissCognitive), is a foremost global AI convener and industry voice. She is expected to shape the executive dialogues on AI adoption and impact.
The Chairman of FIN, Dr Olayinka Fayomi, will deliver the opening remarks with a topic titled: “Championing Africa–Silicon Valley investment bridges and digital economy”. In contrast, Mark Minevich, a Global AI Strategist & Venture Advisor, will deliver the keynote address with a topic titled: “Sovereign AI for Inclusive Growth: A Practical 12-Month Roadmap for Africa’s Digital Economy.”
Other keynote speakers are Eric Schmidt, Former CEO of Google, and Mehdi Paryavi, Chairman of IDCA. They will discuss “Building AI-Ready Data Centres: Standards, Sustainability, and Sovereign Digital Infrastructure.”
Distinguished global thought leaders at the event include Sabeer Bhatia, Co-Founder of Hotmail and serial tech investor enabling new digital frontiers; Prabhav Sharma, AI/industry transformation leader bridging enterprise scale and public value; Wayne Ronhaar, Digital infrastructure and sustainability strategist for AI-ready operations; and Tim Kline, Enterprise innovation and emerging-tech commercialisation specialist.
Others are Gaurav Dhar — CEO, Marshal Fintech Partners; MENA Fintech Association board member, open-finance advocate; Dr Nizar Ben Neji — Former Minister of Communication Technologies, Tunisia, cybersecurity & digital policy expert; Paula Ingabire — Minister of ICT & Innovation, Rwanda, driving Rwanda’s digital economy and innovation agenda.; William Kabogo Gitau — Cabinet Secretary, Ministry of Information, Communications & the Digital Economy, Kenya; leading Kenya’s national digital transformation; Enzo Di Taranto, President Xzen Technologies INC; Samuel Nartey George — Minister for Communication, Digital Technology & Innovations, Ghana; advancing Ghana’s connectivity, policy, and tech ecosystem; Sid Ali Zerrouki (TBC) — Minister of Post & Telecommunications, Algeria; championing national connectivity and digital information.
Speaking on the event’s uniqueness, the organisers said, “Africa must do what is necessary at the AI table, and it is essential to elevate Africa’s leadership in shaping sustainable digital economies.
FIN further disclosed that global connectivity would ensure direct access to Silicon Valley investors, policymakers, and innovators. It will also encourage stakeholders to showcase experts in AI, fintech, cybersecurity, sustainability, and infrastructure.
The FIN Web Conference & AI Expo 2025 is a premier convening of world leaders, investors, and innovators to shape the digital economy through AI, investment, and sustainability dialogues with a strong Africa–Silicon Valley bridge. Attendance is free with prior registration: https://finwebconference.com/virtual-pre-event-registration/
