Banker jailed for fraud in Lagos

A banker, Ugenyi Kalu, has been convicted and sentenced to four years and two months imprisonment over fraud.

The Economic and Financial Crimes Commission (EFCC) secured the conviction and sentencing before Justice R.A. Oshodi of a Special Offences Court, sitting in Ikeja, Lagos.

The convict, a banker, was arraigned on a five-count charge, bordering on official corruption and gratification.

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One of the counts reads: “That you, Ugenyi Kalu sometime in November 2016 in Lagos within the Lagos Judicial Division being the head of Lagos Region of NEXIM Bank, received monetary benefit for yourself in the sum of N4,000,000 from one Obi Ogoh on account of the loan availed to his company Sevirg AgroAllied Mills Ltd by NEXIM Bank, thereby committed an offence bordering on official corruption contrary to Section 8(1)(a) of the Corrupt Practices and Other Related Offences Act, 2000 and punishable under Section 8(1)(b)ii of the same Law.”

He pleaded “not guilty” to all the charges, prompting his trial.

In the course of the trial, prosecution counsel, G.C. Ofulue called six witnesses who testified to his crime, two of whom were his co-workers in Nexim Bank.

Delivering judgement on February 12, 2025, Justice Oshodi held that the prosecution proved its case beyond every reasonable doubt, and found him guilty as charged.

He was convicted on four of the charges and sentenced to four years and two months imprisonment with an option to pay N20,850,000 fine.

The Star