Crime
Police indict Sterling Bank over money laundry, fraudulent deductions, others
The Nigeria police on Wednesday indicted Money Deposit Bank, Sterling Bank over alleged money laundering, fraudulent deductions and other financial crimes by its staff.
This was contained in a report presented to the House of Representative Committee on Public Petition during the hearing of a petition by Maiden Systems Ltd against Sterling Bank, Central Bank of Nigeria (CBN) and Shell Petroleum in Abuja.
Miden system Ltd had petitioned the Committee on alleged mismanagement, fraudulent debit, and misappropriation of funds from its account domiciled with Sterling bank.
Presenting the report before the committee, the representative of the Inspector General of Police, Kabiru Yahaya and Sunny Amison, both Chief Inspectors of Police said after intensive investigation and arrest made on the matter, the bank was found wanting found wanting.
According to him, after arrest was made and an extensive investigation carried out, noting that the bank could not provide evidence to counter the allegations made against it by Miden System Ltd.
He said “We were saddled with the responsibility to investigate mismanagement, fraudulent debit, and misappropriation of funds from the account of Maiden Systems Limited by Sterling Bank.
“In the course of our investigation, findings emerged about the issue of non-issuance of statement of account, fraudulent debit, and misappropriation of funds. More importantly, Maiden Systems Limited raised the issue of accounts. There are four accounts operated by Sterling Bank Plc for Maiden Systems Limited. Two are U.S. dollar accounts, while two are Nigeria NGN accounts.
“Major remittance is coming to the account of Maiden Systems Limited, to be signed with Sterling Bank, and Shell Petroleum Development Company Limited. Now, we have cutting records from Shell over the period 2017 up to 2020. Shell failed, this is our finding, Shell failed to supply the financial reports for 2021, 2022, 2023, and 2024.
“Now, having regard to the complaint of Miden Systems that it was denied the statement of account, we interfaced with an account officer, who gave us in writing that the company is being furnished with the statement of account. And I asked how, he said electronically, or by short message service, But there is no proof. There’s no proof to debunk that aspect of the allegation.
“Secondly, we discovered from the statement of account generated by the bank, not provided by the petitioner, or its counsel, or any third party. These are accounts and statements of account generated by the bank. Ordinarily, before an investigator, we did not just call for a statement of account to just look at it and dump it.
“We looked at it holistically and saw the grey areas where there were discrepancies or where there are questions to be raised.”
According to CSP Amison, we discovered a Debt Service Repayment Account (DSRA) where money is being used to service the loan.
The loan offer as of 2012 was $30 million. We need to understand it was restructured in 2017, with capital and interest to arrive at US$30 million.
“Having regard to the account, we, a team of detectives, started seeing debits, debits from Miden System account for loan repayment. And we took it upon ourselves to ask the account officer that first came before us to explain the loan repayment but he said it was a mere narration adopted while applying funds to the company’s loan account. We found this very vague and ambiguous.
“We discovered that about US$28.3 million was debited from this company’s account for loan repayment but there’s no explanation.
“Particularly, on the 29th, September 2016, the sum of US$2,413,000 was debited from the company’s account. Account number 00148517716 for loan repayment with reference FT16271UZYO. On 14th, November 2016, the sum of US$1.256 million was equally debited from this same account for loan repayment.
“While on the 16th of January 2017, the sum of US$28,302,140.59 was debited from the company’s account for loan repayment. And like I said, we’ve waited for the bank to provide account officers who have managed this account to throw more light on this. It is not our document.
“It is their own document. The facts are before them. If somebody has managed that account before and is no longer an account officer, they could call them, provide names since they are no longer in the bank.
“One of the account officers specifically wrote that the outstanding balance was about US$27.25 million, while the executive director gave us a figure of over US$30 million. That is to say, nothing has been paid, nothing has been debited to clear the loan.
“We equally discovered what the bank captured in the statement of account, in-branch transfer, account to account. And we asked, what does the bank or the account officers mean by in-branch transfer, account to account?
“We have come up with the recommendation that, since the bank has failed to provide evidence for itself to debunk the allegation raised by Median Systems , evidence as used so far from their own statement of account corroborates the offences alleged. Financial mismanagement, Fraudulent debit, misappropriation of funds and more importantly, when funds are being moved that way, if you go deeper, money laundering. We could not even go deeply towards the petitioner raising their petition.
Responding, the Chairman of the Committee, Mike Etaba assured both parties that the report will be studied by the Committee and justice served.
“At the committee level, we will look at the Police report and I assure us that justice will prevail,” Etaba assured.
The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has disclosed how suspected internet fraudsters, popularly known as Yahoo boys, stole more than ₦7.2 million from the bank account of a serving judge in a midnight cyberattack.
Olukoyede made the revelation during the public presentation of two books authored by retired High Court judge, Justice Alaba Omolaye-Ajileye.
According to the EFCC chairman, the judge contacted him around 1 a.m. after receiving multiple debit alerts from her bank account. She told him that about ₦7.2 million—money she had saved over six years for her child’s education—had been fraudulently withdrawn.
He said the commission immediately swung into action and, despite legal restrictions limiting certain investigative activities in the state where the incident occurred, successfully recovered the entire sum before the close of business that same day.
Olukoyede said the incident underscores the increasing threat of cybercrime in Nigeria and warned that many people only appreciate its devastating impact after becoming victims.
He called for stronger collaboration among security agencies, the judiciary and the public to combat internet-related crimes more effectively.
The EFCC boss also urged the National Assembly and legal experts to review existing laws to accommodate the use of artificial intelligence in criminal investigations, noting that current legal provisions make it difficult for AI-generated evidence to be admitted in court.
Also speaking at the event, former Attorney-General of the Federation and Minister of Justice, Kanu Agabi (SAN), urged anti-corruption agencies to intensify efforts to recover stolen public funds traced to foreign countries.
By Okey Maduforo Awka
Prosecution witness of the Economic and Financial Crimes Commission ( EFCC) has cleared former Minister of Labor and Employment Senator Chris Ngige of allegations of ground to the tune of N80 Million.
Ngige was charged on 5 counts of conferring UNDUE advantage to 5 companies said to belong to his Associates and 3 counts of receiving monetary gifts of N38m ,and N42m through his Sen Chris Ngige Foundation Scholarship scheme and Sen Chris Ngige Campaign Organisation respectively.
Recall that on the strength of this matter the former Anambra state Governor was last year remanded at kuje Correction Center for three days and later granted bail.
Sen Ngige pleaded not guilty to the charges and pleads his innocence. Political observers believes the Minister is being witch hunted.
The EFCC prosecution witness at a Federal capital territory Court presided by Justice Marian Hassan again told the court that there was no undue influence,nor interference by the former Minister of Labour & Employment, Senator Dr Chris Ngige during the 12 months period that the NSITF Procurement was domiciled in the Federal Ministry of Labour and Employment between 2021and 2022.
The Procurement activities in the Parastatal’s Tenders board PTB and the Ministerial Tenders Board MTB performed their activities with due process and no hindrance.
The witness; Dr Maduka Onwusoro,now a Permanent Secretary said he served as Director of Procurement in the Labour Ministry 2019 up to 2023,with his Deputy Ms Joyce Akponor who was later deployed to NSITF on their request to man the needs of the various Departments ,collate bids and forward for PTB and MTB awards between 2021 and 2022.
Under Cross Examination by Lead defence Counsel PIN Ikwueto SAN the witness took a look at an Exhibit tendered by the Prosecution, he then affirmed that the approval annotation made on the document were his and affirmed that all the companies recommended and approval by the MTB in the document were done on merit and that there was no UNDUE interference or influence by anyone.
The Ex -Minister was being accused of conferring undue advantage Messrs Zitacom Ltd,Shale Atlantic ,and Olde English Consolidated ltd were on the list with many other companies.
The witness said as overall supervisor of Procurement activities no pressure was brought on him in connection with the 3 companies.
Earlier during his appearance last Thursday the same witness was emphatic that two other Companies Messrs Cezimo Ltd and Jeff & Xris Ltd also passed through due process and got their contracts on merit because there were pre- qualified and gave lowest bids.
Thereafter the defence sought to tender through the Bar some documents which were approvals and directives given to the then Secretary to the Government of the Federation( SGF )and the former Minister, Ngige by the former President Muhammadu Buhari but the Prosecution opposed and pointed out that the certification of the documents by the Federal Ministry of Labour Human Resources Department were not properly done in accordance with a past Supreme Court ruling on certification of documents.
This prompted the defence team to withdraw the application to tender them ,to enable them do the needful.
Thereafter the Judge adjourned the matter to October 14 2026 for further hearing.
The Enugu State Police Command says it has recorded major operational successes in its ongoing border security operations under the Inspector-General of Police’s “Handshake Patrol” initiative.
The operations, carried out at different border locations across the state, led to the foiling of an attempted armed robbery, the neutralisation of one suspected armed robber, the arrest of four other suspects, and the recovery of two firearms, suspected illicit drugs and other incriminating exhibits.
According to the Command, operatives attached to the Amechi-Idodo Division, working with members of the Neighbourhood Watch, foiled an armed robbery attempt along the Enugu–Abakaliki Road at about 6:15 a.m. on June 28, 2026.
The police said the gang had blocked a section of the highway to rob commuters but was confronted by security operatives in a gun battle. The gang, which was already on the Command’s watchlist for a series of armed robberies along the border route, was forced to flee.
Its alleged leader, Ifesinachi Kenneth, sustained gunshot injuries during the exchange of fire and was arrested. Information obtained from him reportedly led to the arrest of another suspect, Izuchukwu Nwanga, who allegedly kept the gang’s proceeds of crime. Kenneth was taken to hospital but was later confirmed dead.
In a separate operation at about 5:30 p.m. the same day, operatives from the Umumba Division, acting on credible intelligence, raided a suspected criminal hideout at Umumba Ndiagu in Ezeagu Local Government Area, near the Anambra State border.
The operation led to the arrest of two suspects, identified as Uwah Ifesinachi Sunday, 23, and Chinonso Okafor Paul, 25. Police recovered a locally fabricated pistol, a knife, a pair of scissors and quantities of substances suspected to be Indian hemp.
Also on June 28, at about 10:00 a.m., operatives of the Command’s Distress Response Squad (DRS), during a stop-and-search operation along the Enugu–Onitsha Expressway at Ugwuoba in Oji River Local Government Area, intercepted a commercial tricycle carrying passengers.
A search led to the recovery of a locally made cut-to-size gun allegedly belonging to 21-year-old Ifediri Nwobu. Police said the suspect attempted to escape by jumping into a nearby river but was successfully apprehended.
The Command said investigations are ongoing to arrest other fleeing suspects, while all those arrested will be charged in court upon the conclusion of investigations.
The Commissioner of Police, CP Mamman Bitrus Giwa, commended the professionalism and bravery of the operatives and members of the Neighbourhood Watch, reaffirming the Command’s commitment to strengthening border security and combating violent crime through intelligence-led policing. He also urged residents to remain vigilant and continue supporting security agencies with credible information.
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has explained the circumstances surrounding the public arrest of former Minister of Science, Innovation and Technology, Chief Uche Nnaji, at the Nnamdi Azikiwe International Airport, Abuja, saying the action followed his repeated failure to honour invitations and a valid court order.
The explanation appears to validate earlier media reports that Nnaji was arrested at the airport, following initial denials from some quarters.
In a statement issued on Thursday, ICPC spokesperson John Odey said the commission obtained a court warrant authorising Nnaji’s arrest after he allegedly ignored several invitations for questioning over allegations of certificate forgery.
According to the commission, Nnaji was arrested on Wednesday, July 1, 2026, upon his arrival at the Abuja airport with the assistance of the Department of State Services (DSS) and was subsequently taken to the ICPC headquarters for interrogation.
The anti-graft agency also disclosed that it had secured a 14-day remand order to keep the former minister in custody while investigations continue, adding that the detention could be extended if necessary.
Odey said the commission had earlier sent formal invitations to Nnaji through a letter dated May 15, 2026, referenced ICPC/HC/CSTF/GUN/GBT/T.1/VOL.V16, which were delivered to his known addresses in Abuja and Enugu as well as via email. However, he allegedly failed to appear for the scheduled investigative interviews.
Following his refusal to honour the invitations, the ICPC approached the Federal High Court, Abuja Division, in Suit No. FHC/ABJ/CS/1160/2026, where it obtained an order on June 11, 2026, authorising his arrest to facilitate investigation.
The commission said the investigation centres on allegations that Nnaji submitted forged academic credentials, including a degree certificate purportedly issued by the University of Nigeria, Nsukka and a National Youth Service Corps discharge certificate during his 2023 ministerial screening.
“The Commission assures the public that the matter will be pursued diligently in accordance with the law,” the statement said.
A student of Osun State University (UNIOSUN), identified simply as Ademola, has alleged that she was assaulted when soldiers from the Army Depot in Osogbo reportedly invaded student hostels.
Speaking in a video shared by OsunDefenderNG, Ademola recounted that the incident occurred while she was alone in her room preparing a meal.
According to her, she initially noticed soldiers around the hostel but assumed the situation had calmed down before they allegedly returned.
The development follows Monday night’s reported invasion of student hostels by soldiers from the Army Depot, Osogbo. During the incident, several students were allegedly assaulted, while more than 60 mobile phones and other electronic devices were reportedly taken away.
There were also allegations that some female students were stripped naked and forced to dance unclothed by some of the soldiers, who were said to have participated in the Army Depot’s passing-out parade held last Saturday.
Recounting her experience, Ademola said she was cooking in her room when the soldiers returned to the area.
“They started shining their torch into my room and asked who was inside. They told me to open the door, and I did. One of them asked how many people were in the room, and I told him there were two, explaining that my roommate was not around,” she said.
Fighting back tears, the student alleged that one of the soldiers became physically aggressive.
“He pinned me against my bathroom door, told me I would like it and warned me not to shout. I begged him and struggled to free myself. I managed to get to the door and told him to leave, but he asked if I really wanted him to go,” she alleged.
Ademola further claimed that another soldier entered the room and attempted to calm her while encouraging her not to resist.
“His colleague came in and told me to calm down, saying I would enjoy it and shouldn’t shout. When they started moving towards me, I screamed loudly. After I shouted, they both left, and I quickly forced the door shut,” she said.
She added that shortly afterward, a fellow hostel resident knocked on her door to check on her after hearing the commotion.
In response to the allegations, the Army Depot, Osogbo, on Tuesday announced that it had launched an investigation into the alleged misconduct following a complaint by the National Association of Nigerian Students (NANS), Southwest Zone D.
The Army said the investigation is aimed at establishing the facts surrounding the incident and assured the public that any personnel found culpable would be held accountable in accordance with the law.
-
Sports5 days agoMorocco Fans In Netherlands Arrested By Police While Celebrating World Cup Victory
-
Opinion5 days agoOPEN LETTER TO GOV NWIFURU: Time to Stop the Forceful Takeover of People’s Lands in Abakaliki (Part 1)
-
Politics5 days agoGovernor disowns Commissioner as crisis deepens over APC Candidates list
-
Politics4 days ago2027: PDP, APC, NDC Collapse Structures Into APGA NASS Candidate In Anambra
-
News3 days agoFormer Minister Uche Nnaji Reportedly Arrested at Enugu Airport Over Alleged Certificate Forgery
-
News4 days agoCourt grants Sowore fresh N200m bail
-
Crime3 days agoPastor, two members kidnapped at gunpoint, Benue church cries out
-
Crime3 days agoUNIOSUN Student Alleges Assault During Soldiers’ Raid on Hostel