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 Lagos State Police Command has uncovered an alleged human trafficking scheme and arrested a woman accused of attempting to traffic three young women from Kaduna State to Ivory Coast for prostitution.
The victims, aged between 18 and 20, were reportedly lured from Kaduna to Lagos with promises of legitimate employment at a restaurant.
However, upon arriving in the Ajegunle area of Lagos on May 23, they allegedly discovered that the job offer was a cover for a plan to send them abroad for prostitution.
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According to information obtained by the News Agency of Nigeria (NAN), one of the victims became suspicious after learning of the suspect’s alleged intentions and immediately objected to the arrangement.
A police source disclosed that the young woman informed the suspect that prostitution was never part of the agreement and that they had travelled to Lagos believing they were coming for genuine employment opportunities.
“She immediately told the suspect that prostitution was not what they had been told they were coming to Lagos for,” the source said.
The source further revealed that the suspect allegedly took the girls to a motor park in preparation for their movement out of the country.
“The suspect allegedly took the girls to a motor park with plans to facilitate their movement out of the country.
“Alarmed by the development, one of the victims approached the police and lodged a complaint.
“Following the report, detectives launched an investigation and subsequently apprehended the suspect,” the source added.
Following the complaint, detectives launched an investigation that led to the arrest of the suspect.
Lagos State Commissioner of Police, Mr. Fatai Tijani, subsequently ordered that the case be transferred from the Tolu Police Division in Ajegunle to the State Criminal Investigation Department (SCID), Yaba, for a thorough investigation.
The case is currently being handled by the Anti-Human Trafficking/Gender Unit of the SCID under the supervision of the Deputy Commissioner of Police in charge of the department, Mr. Dayo Akinbisehin.
Investigators are probing allegations of conspiracy, deception and human trafficking, while efforts are ongoing to rescue other victims reportedly being held by an accomplice and identify additional members of the suspected trafficking network.
The police source also disclosed that the victims were never informed about the alleged plan before leaving Kaduna and that one of them became alarmed only after learning of the intention to transport them abroad for prostitution.
Authorities said investigations have been concluded and the suspect is expected to be charged to court soon.
Former Kaduna State Governor, Nasir El-Rufai, on Monday appeared before the Federal High Court in Kaduna for the continuation of proceedings in his ongoing corruption trial.
El-Rufai arrived at the court around 9:30 a.m. under the escort of officials of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), alongside operatives of the Department of State Services (DSS) and the Nigeria Police Force.
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The former governor is facing allegations of abuse of office, fraud, and financial misconduct allegedly committed during his tenure as Kaduna State governor between 2015 and 2023.
According to the prosecution, funds were allegedly released for projects that were either not executed or were irregularly managed.
The ICPC maintains that its investigation uncovered financial infractions linked to the administration of public funds during El-Rufai’s time in office.
However, El-Rufai has denied all allegations against him, insisting that he is innocent and will clear his name through the judicial process.
At Monday’s hearing, the court was expected to continue considering motions and arguments from both the prosecution and defense teams as the case moves forward.
The trial has attracted significant public attention due to El-Rufai’s prominence in Nigeria’s political landscape and the nature of the allegations against him.
Recall that on April 14, 2026, Justice Rilwan Aikawa granted the former governor bail in the sum of ₦200 million.
The bail conditions required him to provide two sureties, including a serving or retired civil servant on Grade Level 15 and a recognized traditional ruler.
Although El-Rufai’s legal team later sought a variation of the bail conditions, previous requests for bail had been denied by another court over concerns that his influence could interfere with ongoing investigations into the case.
A 45-year-old woman, Mrs. Oluchi Ugbowan, has been arrested by the Edo State Police Command for allegedly orchestrating her own kidnapping in a desperate attempt to extort N50 million from her family.
Police said the suspect, alongside three accomplices, staged an elaborate kidnapping drama, complete with videos showing her bound and allegedly held captive, in a bid to convince relatives that she had fallen into the hands of kidnappers.
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The Edo State Police Command disclosed on Tuesday that the scheme was uncovered following a complaint lodged by Mrs. Ugbowan’s husband, Mr. Tony Ugbowan, who reported that his wife had been kidnapped while on her way to her shop at Ramat Park along Agbor Road in Benin City.
According to police spokesperson ASP Eno Ikedem, the husband told investigators that he had received a call from an unknown individual using a concealed phone number, demanding a ransom of N50 million for his wife’s release.
The report prompted operatives of the Anti-Kidnapping Unit to launch an intensive investigation, combining intelligence gathering and technical tracking to uncover the truth behind the alleged abduction.
The breakthrough came with the arrest of one Israel Ability, 28, at Ramat Park, Agbor Road, Benin City. During the operation, detectives recovered a mobile phone belonging to the supposed victim.
Police said Ability later confessed during interrogation that the kidnapping was staged and that he had been recruited by Mrs. Ugbowan to negotiate ransom payments with her family while pretending she had been abducted.
Further investigations led officers to a hotel in Ukwuani Local Government Area of Delta State, where Mrs. Ugbowan was arrested on June 5, 2026.
During questioning, she allegedly admitted to masterminding the fake kidnapping and subsequently led investigators to the residence of another suspect, Ochukwudem Uwadia, 38, in Delta State.
According to the police, Uwadia’s residence served as the location where the fake kidnapping videos were produced.
The clips reportedly showed Mrs. Ugbowan with her hands and feet tied while emotional appeals for ransom were directed at her family.
Investigators also discovered that Uwadia’s 18-year-old son, Chibuzor Ochukwudem, allegedly participated in the scheme and was seen pointing a firearm at Mrs. Ugbowan’s head in the videos to make the kidnapping appear genuine.
Police said all four suspects connected to the alleged conspiracy have now been arrested.
A search conducted at the premises used for the production of the videos led to the recovery of an automatic pump-action gun allegedly used during the recording of the ransom footage.
The Edo State Police Command said the suspects will face prosecution upon the conclusion of investigations, warning members of the public against engaging in criminal schemes disguised as kidnapping incidents.
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