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

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.
Crime & Court
Court Strikes Out Falana, Falz’s N1bn Defamation Suit Against Verydarkblackman

A Lagos High Court sitting in Ikeja on Tuesday struck out the defamation suit filed against controversial blogger Martins Otse, popularly known as Verydarkblackman (VDM).
The suit was instituted by renowned human rights lawyer and Senior Advocate of Nigeria, Femi Falana, and his son, rapper and activist Folarin Falana, widely known as Falz.
The case stemmed from comments and a video published by VDM on 24 September 2024 via his various social media platforms.
In separate suits, the Falanas sought N500 million each in damages, accusing the blogger of defaming them by alleging in the video that they had received N10 million from social media personality Idris Okuneye, a.k.a. Bobrisky, to pervert the course of justice.
The claimants contended that the defendant knowingly published unverified and false information with the intention of tarnishing their reputation. They further argued that the defamatory content remained accessible online, thereby causing continuous reputational damage.
During Tuesday’s proceedings, neither the claimants nor the defendant was present in court.
Counsel representing the defendant, Niyi Alagbe, standing in for Marvin Omorogbe, informed the court that an application for a stay of proceedings had earlier been filed before Justice Fimisola Azeez.
Responding, the Falanas’ counsel, Omotayo Olatunbosun, confirmed receipt of the said application around 4:15 p.m. on Monday, but urged the court to hear the preliminary objection, which he noted was already ripe for hearing. He argued that the new application was merely a ploy to delay the proceedings.
Justice Matthias Dawodu, in his ruling, stated that the application was not part of the case file before him and questioned why he was being asked to continue hearing the matter when the substantive suit was before another judge.
He concluded that proceeding with the current suit would amount to an academic exercise, and accordingly, struck it out.
“Consequently, this suit is hereby struck out,” the judge ruled.
Crime & Court
Edo Tragedy: DSS Arrests Two Over Uromi Mass Killing

Operatives of the Department of State Services (DSS) have arrested two principal suspects allegedly involved in the killing of 16 travellers in Uromi, Esan North-East Local Government Area of Edo State last week.
The Chief Press Secretary to the Governor, Friday Ituah, disclosed this in a statement on Tuesday, confirming that the suspects were apprehended in Uromi town following credible intelligence.
According to Ituah, operatives from various security agencies are actively hunting for other key suspects linked to the tragic incident. He further revealed that the two arrested suspects have been transferred to Abuja for further interrogation and prosecution by the relevant authorities.
Meanwhile, on Monday, the Edo State Governor, Senator Monday Okpebholo, paid a condolence visit to Kano State, where he revealed that 14 suspects had already been arrested in connection with the killings and were also to be moved to Abuja for further questioning.
During his visit, Governor Okpebholo expressed deep sorrow over the incident and assured the victims’ families that justice would be served. He reiterated his administration’s commitment to ensuring that those responsible for the heinous act would be brought to book.
Also, the governor pledged that adequate compensation would be provided to the bereaved families as part of efforts to mitigate their suffering.
Crime & Court
EFCC Re-Arrests Crypto Fraud Kingpin, Friday Audu, Outside Court Premises

The Economic and Financial Crimes Commission (EFCC) has rearrested Friday Audu, the alleged mastermind of a massive cryptocurrency investment fraud and romance scam, just moments after he was granted bail by a Federal High Court in Ikoyi, Lagos.
In a dramatic turn of events, EFCC operatives intercepted Audu as he stepped out of the court premises on Thursday. The anti-graft officers swiftly bundled him into a waiting white van and whisked him away, while his co-defendants were led off by correctional officers.
Audu, alongside two Chinese nationals, Huang Haoyu and An Hongxu, as well as their company, Genting International Ltd, is facing a 12-count charge bordering on cybercrime. The trio was arraigned before Justice Daniel Osiagor on Monday, March 17, and returned to court on March 20 for their bail hearing.
Despite being granted bail, Audu’s troubles deepened as EFCC officials moved in swiftly. The court had granted him bail in the sum of N50 million, with two sureties—one being a serving director in Nigeria, and the other a Lagos-based property owner willing to surrender title documents to the court. Until these conditions are met, Audu was to remain in correctional custody.
However, his alleged accomplice, Huang Haoyu, was not as fortunate. The court denied his bail application, ruling that his residence status in Nigeria was unclear and that he posed a flight risk. The third defendant, An Hongxu, did not apply for bail and was remanded in custody.
Justice Osiagor adjourned the trial to May 2, 2025.
How It All Started
The EFCC’s case against Audu and his co-defendants stems from a December 2024 sting operation that led to the arrest of 193 foreigners and several Nigerians linked to a sophisticated cyber-fraud network.
According to the prosecution, Audu allegedly spearheaded the recruitment of young Nigerians into the syndicate, which engaged in cyber fraud, cryptocurrency scams, and illicit financial dealings. The EFCC further alleged that the group conspired with one Dualiang Pan (still at large) to access computer systems designed to destabilize Nigeria’s economic and social structure.
The defendants were accused of using young Nigerians to impersonate foreign nationals in online scams, defrauding unsuspecting victims of millions of dollars. Investigators also linked them to a staggering ₦3.4 billion fraud, with proceeds traced to the Union Bank account of Genting International Ltd.
Other fraudulent transactions flagged in the case include:
- The illegal retention of $1.2 million in a crypto wallet by one Chukwuemeka Okeke.
- A similar retention of $1.3 million by Alhassan Garba and Ifesinachi Jacobs.
- Suspicious transfers of ₦106 million and ₦913 million to an account controlled by Dualiang Pan.
- Unofficial foreign exchange dealings worth over ₦2 billion, allegedly conducted outside the Central Bank of Nigeria’s approved system.
The EFCC maintained that these activities violated multiple provisions of the Cybercrime (Prohibition) Act 2015, the Money Laundering Act 2021, and the Foreign Exchange Monitoring Act 2004.
Battle for Bail
During Thursday’s proceedings, EFCC prosecutor Bilikisu Buhari-Bala opposed bail for the defendants, arguing that they were flight risks and key players in an extensive cybercrime syndicate. She pressed for an accelerated trial instead.
Defense counsels, however, pleaded for leniency. Senior Advocate of Nigeria (SAN) Emeka Okpoko, representing the first defendant, urged the court to grant his client bail on “liberal terms.” Similarly, Clement Onwuenwunor (SAN), who represented Audu, pushed for his client’s release under favorable conditions.
Despite the court’s decision to grant Audu bail, his freedom was short-lived as EFCC officials quickly stepped in to rearrest him, a move that hints at fresh charges or an ongoing investigation.
With the case now set for trial on May 2, all eyes remain on the EFCC and the fate of the alleged crypto fraud syndicate.
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