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N67.5m Fraud : EFCC, Police launch manhunt for Paul Demudia Eigbefoh

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A suspected fraudster trading under the business name “Capital Plus Investment Services Ltd”, owned by Paul Demudia Eigbefoh is on the run after allegedly defrauding a leading oil and gas company in the country to the tune of N67.5million last week.

The affected firm has petitioned the Economic and Financial Crimes Commission (EFCC) for recovery of N67.5 million alleged to have been fraudulently obtained by the fleeing Paul Demudia Eigbefoh, also known as Paul Smith.

The firm in a petition dated July 24 2023 by its counsel, Bala Omar Yakubu and Co, and addressed to the EFCC Lagos Command, alleged that Paul Demudia Eigbefoh and Capital Plus Investment Services Limited, obtained the sum of N67.5 million, under false pretence.

It disclosed that Paul Demudia Eigbefoh who held himself out as the alter-ego of Capital Plus approached the conglomerate to offer it financial services to augment its working capital.

The petition read in part, “Our company which deals in petroleum down section of the economy and has retail outlets in some Southwest States and the Federal Capital Territory.

The firm had applied for a loan facility but was asked to pay N67.5million to enjoy the facility. No sooner had the said money paid to the suspected fraudster, Paul Demudia Eigbefoh that he bolted away from his known office and house addresses and also switched-off his phone since last week.

“As part of the condition for the said disbursement, the said Paul Demudia Eigbefoh insisted that the company make an equity contribution to the sum of N60,000,000 million, notwithstanding that he had asked for an initial collateral of our client’s movable assets.”

It added that the persistence of Paul Demudia Eigbefoh that the equity contribution be paid in order to facilitate the said disbursement led to the payment of the amount, noting that it paid the sum of N7,500,000 on July 14, 2023 as processing fee charges and N60 million as equity contribution into the company’s account.

It stated further that the money were paid into Fidelity Bank Plc account number 5600141150 belonging to Capital Plus Investment Services Limited, alleging that shortly after the last tranche of N60 million was received by Capital Plus Investment Services Limited, it shut down all means of communications with it.

It similarly disclosed that its officials had to visit the company’s address at Block 69, Kusenla Road, Ikate Lekki in Lagos State but found the place deserted, stating that on detecting this it notified its bankers, who in turn got in touch with the recipient beneficiary bank, Fidelity Bank Plc to notify it of the said fraud.

“It was discovered by Fidelity Bank that as soon as the said sum was received, the said company moved it in tranches to other beneficiaries of the said fraud in other Banks.

The company has therefore urged the EFCC commander to help use his good office in treating the case as a matter of urgency.

All efforts by reporters to reach Paul Demudia Eigbefoh through his house and office addresses were futile, just as his widely known phone contact 08060510537 was switched-off, since Friday.

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Crime & Court

Ibadan Stampede: Principal, Agidigbo FM Boss, Ooni’s Ex-Wife Remanded

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A Chief Magistrate Court sitting in Iyaganku, Ibadan, has ordered the remand of three individuals in connection with last week’s tragic stampede at Bashorun Islamic High School, which claimed the lives of 35 children and left many others injured.

 

The accused include Abdullahi Fasasi, the school’s principal; Alhaji Oriyomi Hamzat, proprietor of Agidigbo FM; and Naomi Silekunola, estranged wife of the Ooni of Ife. The trio was arraigned by the Oyo State Police Command on Tuesday, before Chief Magistrate Olabisi Ogunkanmi.

 

The court proceedings, held under heightened security, drew a large crowd of family members and concerned citizens. According to the police prosecutor, the defendants face four counts, including charges under Section 324 of the Criminal Code, Cap. 38, Vol. II, Laws of Oyo State, 2000.

 

After hearing the charges, Chief Magistrate Ogunkanmi ruled that the accused be remanded at the Agodi Correctional Center, pending further directives from the state prosecutor.

 

Southern Governors Pay Condolence Visit

 

In a related development, Southern governors, led by the Chairman of the Southern Governors’ Forum (SGF) and Ogun State Governor, Dapo Abiodun, paid a condolence visit to Oyo State Governor, Seyi Makinde.

 

Addressing reporters after the visit, Governor Abiodun described the stampede as a tragic turn of events from a well-intentioned initiative. He urged non-governmental organizations to collaborate with government agencies to ensure better planning for charity programs.

 

“I am here on behalf of myself, my family, the people of Ogun State, and the Southern Governors’ Forum to commiserate with Governor Makinde and the people of Oyo State on the unfortunate incident of December 18, 2024,” Abiodun said.

 

“The entire Southern governors are deeply pained by this tragedy. In Ogun State, we believe anything that affects Oyo State affects us as well. Our prayer is that such an incident never happens again. We will continue to hold the bereaved families and the people of Oyo State in our prayers.”

 

The Southern Governors’ Forum also expressed solidarity with the affected families, praying for the repose of the departed souls and quick recovery for those injured.

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Human Rights Lawyer, Dele Farotimi, Granted ₦30m Bail

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A Magistrate Court sitting in Ado Ekiti, the Ekiti State capital, has granted human rights lawyer and activist, Dele Farotimi, bail to the tune of ₦30 million. The court also mandated Farotimi to provide three sureties with landed properties within its jurisdiction.

As part of the bail conditions, the court ordered Farotimi to refrain from granting media interviews and to submit his international passport to the authorities. The case has been adjourned to February 13, 2025, for further proceedings.

Farotimi, who had been remanded at a correctional center in Ado Ekiti, arrived at the court premises on Friday at approximately 9:45 a.m. He was conveyed in a prison van accompanied by a police escort. Upon arrival, the embattled lawyer raised his hands in appreciation of a cheering crowd that had gathered outside the court to show their solidarity.

The human rights advocate is facing prosecution for allegedly defaming a Senior Advocate of Nigeria (SAN), Afe Babalola. His arrest has ignited widespread public outcry, with many Nigerians and civil society groups condemning the action and demanding his immediate release.

Farotimi’s detention and subsequent arraignment have fueled debates about the boundaries of free speech and defamation laws in Nigeria, with critics arguing that the case may stifle dissenting voices in the country.

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Anambra: Police Arrest Man with Gun Hidden in Rice Bag

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Police operatives have apprehended a 25-year-old man, Enediong Bassey, in possession of a pump-action gun concealed in a bag of rice at Nkwelle-Ezunaka.

The suspect, a native of Ikono Local Government Area in Akwa Ibom State, was arrested on November 22, 2024, at 6:38 pm following credible intelligence.

This was disclosed in a statement issued on Tuesday by the Police Public Relations Officer, Anambra State Command, SP Tochukwu Ikenga.

The statement revealed that officers attached to the 3-3 Divisional Headquarters, led by CSP Emeka Obi, acted swiftly to intercept Bassey.

During interrogation, he admitted to being a member of a local vigilante group but confessed to plans of absconding with the weapon to join a criminal gang involved in armed robbery and other illicit activities.

“Given the above and following other complaints and unprofessional conduct by some security outfits and vigilante members, the Commissioner of Police, CP Nnaghe Obono Itam, in line with the principles of community policing, reiterates the calls for profiling of security operatives assisting the police and other security agencies on anti-crime operations to improve safety in the state,” the statement read.

In light of the situation, the Commissioner of Police has directed the immediate transfer of the suspect to the command’s anti-robbery squad for a thorough investigation.

The Anambra State Police Command reassured residents of its commitment to ensuring the safety and security of lives and property, urging vigilance and collaboration with law enforcement.

 

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