The Lagos Zonal Directorate of the {Economic} and {Financial} Crimes Fee, EFCC, has secured the conviction and sentencing of 1 Ugenyi Kalu, earlier than Justice R.A. Oshodi of a Particular Offences Courtroom, sitting in Ikeja, Lagos for fraud.
The convict, a banker, was arraigned on a five-count cost, bordering on official corruption and gratification.
In an announcement launched right now, February 18, the EFCC mentioned one of many counts reads.
“That you simply, Ugenyi Kalu someday in November 2016 in Lagos inside the Lagos Judicial Division being the pinnacle of the Lagos Area of NEXIM {Bank}, acquired a financial profit for your self within the sum of N4,000,000 (4 Million Naira) from one Obi Ogoh in account of the mortgage availed to his firm Sevirg AgroAllied Mills Ltd by NEXIM {Bank}. Thereby dedicated an offence bordering on official corruption opposite to Part 8(1)(a) of the Corrupt Practices and Different Associated Offences Act, 2000 and punishable beneath Part 8(1)(b)ii of the identical Legislation.”
He pleaded “not responsible” to all the fees, prompting his trial. In the midst of the trial, prosecution counsel, G.C. Ofulue referred to as six witnesses who testified to his crime, two of whom have been his co-workers in Nexim {Bank}.
Delivering judgement on February 12, 2025, Justice Oshodi held that the prosecution proved its case past each cheap doubt, and located him responsible as charged. He was convicted on 4 of the fees and sentenced to 4 years and two months imprisonment or to pay N20,850,000 (Twenty Million, Eight Hundred Fifty Thousand Naira) nice.