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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

FCMB staff, ex-worker remanded over alleged $25,000 cyber fraud

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A Federal High Court in Lagos has ordered the remand of a Service Administrator with First City Monument Bank Plc, Gideon Bakpa Aghogho, and a former employee of the bank, Oscar Ebere Chukwuebuka, over an alleged $25,000 cyber fraud.

Justice Friday Ogazi gave the order on Wednesday following the arraignment of the two men by the Economic and Financial Crimes Commission on charges bordering on conspiracy, cybercrime and fraud.

The EFCC alleged that Aghogho, Chukwuebuka and a man identified as Scott, who is still at large, conspired between July 24 and 26, 2026, to gain unauthorised access to the bank’s server and siphon $25,000.

The prosecution counsel, Bilikisu Buhari-Bala, told the court that Aghogho allegedly released his access code to Chukwuebuka, who was said to have approached him to facilitate access to the bank’s system.

According to the prosecutor, the access code, which was linked to the bank’s local Administrative Credential, known as ITSD, was allegedly used to gain access to the FCMB Virtual Centre Platform.
Buhari-Bala further alleged that after the money was siphoned, Aghogho received $2,000, while Chukwuebuka allegedly received $400.

The prosecutor said the alleged offences violated provisions of the Cybercrimes (Prohibition, Prevention, Etc) Act, 2015, as amended in 2024, and the Money Laundering (Prevention and Prohibition) Act, 2022.

When the charges were read to them, Aghogho pleaded not guilty, while Chukwuebuka pleaded guilty.
Following their pleas, Justice Ogazi adjourned the case until August 27, 2026, for a review of the facts relating to the charges against Chukwuebuka.

The judge also ordered that the two defendants be remanded in the custody of the Nigerian Correctional Service pending the next hearing.

Before the arraignment, counsel to the defendants, N. Egah and Livingstone Madu, told the court that their clients were willing to enter into a plea bargain agreement.

The prosecutor, however, said the EFCC was not aware of any plea bargain arrangement involving the defendants.
One of the counts alleged that Aghogho, Chukwuebuka and Scott conspired to provide and use Aghogho’s access code to the FCMB system, thereby enabling unauthorised access to the bank’s Virtual Centre Platform.

Another count accused Aghogho of unlawfully disclosing access credentials, including the bank’s server IP and domain credentials, which allegedly facilitated access to the bank’s database.

The EFCC also alleged that Aghogho retained $2,000 on July 26, 2026, while Chukwuebuka retained $400, knowing or having reasonable grounds to believe that the sums were proceeds of an unlawful act.

The defendants have not been convicted of the allegations.

The case was adjourned until August 27 for further proceedings.

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Police Arrest 10 Suspected Human Parts Dealers in Oyo

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Operatives of the Oyo State Police Command have arrested 10 suspected human parts dealers in Iseyin and Saki areas of the state following months of intelligence gathering and surveillance.

The suspects were arrested by the Command’s Monitoring Unit after operatives had closely monitored their activities, the Police Public Relations Officer, DSP Ayanlade Olayinka, disclosed in a statement made available to journalists on Friday.

According to the statement, the arrests followed “sustained intelligence gathering, discreet surveillance and close monitoring” of the suspects.

Those arrested were Adam Ibrahim, 42; Nasiru Kabiru, 22; Tijani Wasiu, 54; Abiola Nasiru, 45; Amusa Gbadamosi, 57; Raheem Taofeek, 46; Jimoh Muritala, 35; Suleiman Busari, 47; Ganiyu Nurudeen, 36; and Usman Abdullahi, 52.

Police said several suspected human parts and charms were recovered during searches of the suspects’ hideouts.

The exhibits included a suspected human heart, human flesh, pieces of human skull and assorted charms.

The command said the recovered items had been secured for forensic examination as investigations continued.

Olayinka said the suspects had confessed to dealing in human parts for ritual purposes, adding that they were assisting investigators in tracing the source, procurement and intended use of the recovered items.

He said efforts were ongoing to arrest other members of the alleged syndicate.

The Commissioner of Police, Oyo State Command, CP Abimbola Ayodeji Olugbenga, commended the operatives for what he described as a painstaking intelligence-led operation.

The CP reaffirmed the command’s determination to rid the state of criminal elements and protect the sanctity of human life.

He urged residents to remain vigilant and provide credible information to the police to aid crime prevention and detection.

 

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Ex-DSS Officer Arraigned Over Alleged IPOB Membership, Terror Charges

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The Department of State Services has arraigned one of its retired officers, Nwaogu Ihechimere Ezeakolam, before the Federal High Court in Abuja over his alleged involvement with the proscribed Indigenous People of Biafra.

Ezeakolam was docked before Justice Mohammed Umar on a four-count charge bordering on alleged membership of the separatist group, providing support for its activities and using social media to promote its cause.

The charges were instituted by the Director of Public Prosecutions of the Federation, Rotimi Oyedepo (SAN), on behalf of the Federal Government. The prosecution alleged that the offences were committed in Abuja and Abia State between 2025 and 2026.

According to the charge, the retired operative allegedly rendered moral support to IPOB by disseminating information in favour of the group through the internet and his social media platforms. The prosecution said the action contravened provisions of the Terrorism (Prevention and Prohibition) Act, 2022.

The Federal Government also accused him of becoming a member of IPOB despite the group’s proscription by the court. It maintained that the alleged act is punishable under the Terrorism (Prevention and Prohibition) Act.

In another count, the prosecution alleged that Ezeakolam knowingly posted messages on social media designed to persuade members of the public to support IPOB. It further claimed that the posts amounted to aiding and abetting the activities of the proscribed organisation.

The fourth charge accused the defendant of publishing messages online to advance the cause of IPOB, an offence the prosecution said is contrary to the provisions of the Cybercrimes (Prohibition, Prevention, etc.) Act, 2015, as amended.

When the charges were read, Ezeakolam pleaded not guilty to all four counts. Following his plea, prosecuting counsel, Memunat Oladunjoye, urged the court to fix a date for the commencement of trial.

Counsel for the defendant, Godfirst Maduka, informed the court that he intended to file a bail application on behalf of his client. Justice Umar directed that the application should be filed accordingly and fixed October 29 for the commencement of trial.

The judge subsequently ordered that the defendant be remanded in the Kuje Custodial Centre pending the hearing and determination of his bail application.

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