EFCC arraigns 2 for attempting to dupe First Bank €49m

The Economic and Financial Crimes Commission (EFCC) has arraigned Abel Sokari and Nkeiruka Chukwuma before the Special Offences Court sitting in the Ikeja area of Lagos State for allegedly attempting to fraudulently obtain €49 million from First Bank.

Sokari and Chukwuma were arraigned alongside a company, Zakah Global Investment Limited, on a six-count charge bordering on attempted fraud, possession of fraudulent documents, and forgery on Monday, July 7, 2025.

In one of the counts, the EFCC noted that the defendants, on May 19, attempted to fraudulently obtain €49 million from First Bank by falsely claiming Bayan Investment Bank transferred the funds into Zakah Global Investment Limited’s account.

The EFCC added that in April 2024, the defendants possessed a letter purportedly from Steven H. Sado, P.C., Donald Trump’s lead defence counsel, which they knew to be a false representation.

The defendants, however, pleaded not guilty to the charges.

Following their plea, the EFCC counsel, Hanatu Kofarnaisa, requested the court to fix a trial date.

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Kofarnaisa also urged the court to remand the defendants in custody, pending the commencement of trial.

However, the defence counsel, Clement Onwenwnor (SAN) and Laolu Owolabi (SAN), informed the court of their pending bail applications and urged the court to grant bail to the defendants on liberal terms.

The lawyers further undertook to take custody of the defendants, pending the perfection of their bail conditions.

The presiding judge, Justice Mojisola Dada, granted bail to the defendants in the sum of N500,000 each, with one surety each in like sum.

Justice Dada stated that the sureties must be gainfully employed and must show evidence of two years tax payment to the Lagos State Government.

The judge added that the bail conditions must be perfected within one month.

She, therefore, adjourned the case until October 29 for trial.

The Star