Crime
Court Rejects Bid By Briton, Indians To Prevent Arrest, Extradition In Ecobank Fraud
A Federal High Court in Lagos has rejected attempts by three foreign nationals to overturn a bench warrant issued for their arrest and extradition on charges related to a $42.48 million fraud.
The defendants—Indian nationals Prem Garg and Devashish Garg, and Briton Marcus Wade, chairman of Wilben Trade Limited—are accused of defrauding Ecobank Plc.
The allegations stem from a petition filed by Ecobank on October 7, 2022, with the Department of Public Prosecutions (DPP), claiming the trio, along with their companies Wilben Trade Limited in Dubai and Agrico Agbe Limited, secured a $42.48 million loan under false pretenses.
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The loan, granted in 2015, was intended for the importation of rice, but according to the charges brought by the Office of the Attorney-General of the Federation (AGF), the defendants allegedly failed to deliver on their commitments, prompting legal action.
The case, marked FHC/L/562C/2022, includes multiple counts of fraud against the defendants, who have yet to appear in court despite the bank’s efforts to recover the funds.
The charge reads, “That you, Prem Garg, Devashish Garg both of Iand ndian nationality, Agrico Agbe Limited (a company registered in Nigeria), Wilben Trade Limited, Dubai (a company registered in the United Arab Emirates, Dubai), Marcus Wade (Chairman of Wilben Trade Ltd, Dubai) of British nationality, sometime in the month of May and September, 2015 at Ecobank Plc, Lagos within the Jurisdiction of this honourable court conspired between yourselves to commit an offence thereby committed an offence punishable under Section 422 of the Criminal Code Act, Cap C38 Laws of the Federation of Nigeria, 2004.
“That you, Prem Garg, Devashish Garg both of Indian nationality, Agrico Agbe Limited (a company registered in Nigeria), Wilben Trade Limited, Dubai (a company registered in the United Arab Emirates, Dubai), Marcus Wade (Chairman of Wilben Trade Ltd, Dubai) of British nationality, sometime in the month of May and September, 2015 at Eco Bank Plc. Lagos thin the Jurisdiction of this Honourable Court conspired between yourselves to commit an offence to wit: Cheating in that you caused Ecobank Plc to deliver monies to the tune of $42,485,900 which was intended by contract for the purchase and import into Nigeria India Parboiled rice but never utilised the sum of money for the contract and thereby committed an offence punishable under Section 421 of the Criminal Code Act, Cap, C38 Laws of the Federation of Nigeria, 2004.”
Despite the charges pending against them, the defendants did not show up in court to enter their pleas prompting the Office of the Attorney-General of the Federation (AGF) to seek a bench warrant and extradition order.
In response, the AGF’s lawyer, Pius Akutah, filed an application for these orders, which was granted by presiding judge Akintayo Aluko in November 2023.
However, the defendants, represented by lawyers Dele Belgore and Dada Awosika, subsequently filed motions to overturn the arrest and extradition orders.
This move was contested by the AGF’s counsel, Kehinde Bode-Ayeni, who argued against quashing the orders.
Bode-Ayeni assumed responsibility for the case after Pius Akutah, who is now the Executive Secretary and CEO of the Nigerian Shippers’ Council, transitioned from the role.
In a ruling delivered on Monday, Judge Akintayo Aluko stated that proceedings before a magistrate court in Delhi, India, cannot serve as a “stay” in the ongoing criminal proceedings in Nigeria. He emphasized that the case is not solely a criminal matter but a proceeding under the jurisdiction of a Nigerian court as established by the Nigerian Constitution.
Additionally, Judge Aluko clarified that an order for maintaining the status quo issued by another court does not override the criminal charges pending in his court.
Judge Akintayo Aluko ruled that the applications filed by the defendants “lack merit” and subsequently dismissed both motions. The judge then adjourned the case to October 24 for further proceedings.
Meanwhile, on August 7, a statement circulated online claiming that the Central Bank of Nigeria (CBN) was investigating Ecobank over allegations of abusive proceedings and communications involving Wilben Trade Limited and Marcus Wade.
However, the CBN has denied any investigation into Ecobank.
The Federal High Court in Abuja has adjourned the alleged terrorism financing and illegal firearms possession case involving former Attorney-General of the Federation, Abubakar Malami, and his son, Abdulaziz Malami, until April 15 and 16.
Justice Joyce Abdulmalik granted the adjournment on Tuesday after the prosecution requested more time to prepare for the trial.
During the court session, lead prosecuting counsel, Akinlolu Kehinde (SAN), informed the court that he had only recently been assigned to handle the case and needed additional time to consult with witnesses.
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“I got the instruction to take over the prosecution of the case on Monday and so I need time to interface with the witnesses,” Kehinde told the court while asking for a new hearing date.
Counsel for the defendants, Shuaibu Arua (SAN), did not oppose the request for adjournment.
Following the application, Justice Abdulmalik granted the request and fixed April 15 and 16 for the continuation of the trial.
The Department of State Services (DSS) had earlier arraigned the former justice minister and his son on a five-count charge bordering on alleged terrorism financing and unlawful possession of firearms.
According to the charge marked FHC/ABJ/CR/63/2026, Malami was accused of allegedly aiding terrorism financing by failing to prosecute suspected financiers whose case files were reportedly forwarded to him while he served as Attorney-General of the Federation and Minister of Justice.
The defendants were also accused of illegally storing firearms and ammunition at their residence located in Gesse Phase II Area of Birnin Kebbi Local Government Area of Kebbi State without lawful authority.
Items allegedly recovered include a Sturm Magnum 17-0101 firearm, 16 Redstar AAA 5’20 live cartridges, and 27 expended Redstar AAA 5’20 cartridges.
The alleged offences are said to violate provisions of the Terrorism (Prevention and Prohibition) Act, 2022, as well as the Firearms Act, 2004.
The trial is expected to continue in April when the court begins full hearing of the case.
A routine patrol by the Federal Road Safety Corps (FRSC) has led to the recovery of a stolen vehicle in Lagos and the exposure of a wanted driver, highlighting the importance of proper vehicle documentation and cooperation with authorities.
The incident occurred at the RS2.1114 Isolo Unit Command, where officers stopped an ash-coloured Toyota Sienna bearing registration number LSD438GK for a Vehicle Licence Violation (VLV) on Saturday, February 28, 2026, at about 5:11 p.m.
While the driver initially failed to present valid documents, further checks revealed the vehicle had been reported stolen and the driver was already declared wanted.
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The suspect was subsequently handed over in handcuffs to the Nigeria Police Force, Ajao Division, for further action.
The FRSC credited the recovery to the National Vehicle Identification Scheme (NVIS), a digital framework that strengthens vehicle verification and tracking.
The scheme has reportedly helped identify, trace, and recover numerous stolen vehicles nationwide, while curbing criminal syndicates involved in vehicle theft and identity manipulation.
In a statement, Assistant Corps Marshal Olusegun Ogungbemide stressed that enforcement is not only about traffic compliance but also crime prevention and public safety, urging motorists to always carry valid documentation and cooperate with patrol officers.
Corps Marshal Shehu Mohammed commended the Isolo team for their vigilance, affirming the FRSC’s commitment to leveraging technology, intelligence, and strategic partnerships to protect lives and property on Nigerian roads.
A major election scandal unfolded on Saturday in the Federal Capital Territory (FCT) as security agents apprehended a young woman in the Kabusa area for allegedly possessing 20 voter cards during the ongoing area council elections.
The woman, dressed in a black shirt and red trousers with a white scarf, was intercepted at Polling Unit 001 in Kabusa Primary School.
She was immediately escorted into a police van by security personnel, raising concerns about the integrity of the election process.
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Meanwhile, the Minister of the FCT, Nyesom Wike, was on the ground monitoring the elections.
He visited several polling units, including the Karu Chief’s Palace, to interact with adhoc staff of the Independent National Electoral Commission (INEC) and assess voter turnout.
Wike reportedly inquired about the progress of the voting and the challenges faced by election officials.
This incident comes amid reports of low voter turnout and other electoral irregularities in parts of Abuja, underscoring ongoing concerns about electoral security and transparency in the FCT area council elections.
Authorities have assured that investigations are ongoing, and the suspect may face legal action pending further verification of her actions.
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