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EFCC Arraigns Forex Broker Over Alleged N2bn Investment Scam In Uyo

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Economic and Financial Crimes Commission, EFCC,

 

The Enugu Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has arraigned one Rufus John Isip, a self-acclaimed forex broker before Justice C. S. Onah of the Federal High Court sitting in Uyo, Akwa Ibom State.

Isip was arraigned alongside his company, ITM-IT Resources Limited, on Friday, July 19, 2024, on an-eight-count charge bordering on fraudulent conversion, money laundering and obtaining by false pretence to the tune of N2,022,081,172 (Two Billion, Twenty-two Million, Eighty-One Thousand, One Hundred and Seventy-two Naira).

Count one of the charge reads: “That you, Rufus John Isip while being the Director of ITM-IT Resources Limited and ITM-IT Resources Limited sometime in December 2020 and May 2021 in Uyo, Akwa Ibom State, within the jurisdiction of the Federal High Court of Nigeria, with intent to defraud, obtained the sum of (N431,331,172.00) Four Hundred and Thirty-one Million, Three Hundred and Thirty-one Thousand, One Hundred and Seventy-two kobo from one Michael Okon, the Director of N-Rex Resources Limited under the false pretence that it is an investment in Vandera, an online investment platform, on his behalf, which pretence you knew to be false and thereby committed an offence contrary to Section 1 (1) (a) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under Section 1 (3) of the same Act”.

ALSO READ: BREAKING: EFCC Presents More Witness Against Fayose In Alleged N6.9bn Fraud Trial

In the same vein, count eight of the charge reads: “That you, Rufus John Isip while being the Director of ITM-IT Resources Limited and ITM-IT Resources Limited sometime between December 2020 and May 2021 in Uyo, Akwa Ibom State, within the jurisdiction of the Federal High Court of Nigeria, converted the total sum of (N730,870,000.00) Seven Hundred and Thirty Million, Eight Hundred and Seventy Thousand Naira to crypto currency (Bitcoin) and transferred same into your Binance Wallet knowing that the said money formed part of your unlawful act and you thereby committed an offence contrary to Section 15 (2) (d) of the Money Laundering (Prevention and Prohibition) Act, 2011 and punishable under Section 15 (3) (4) of the same Act”.

He pleaded not guilty when the charges were read to him.

In view of his plea, Khamis Mahmud, counsel to the EFCC prayed the court to remand him in EFCC custody on the grounds that “we are still investigating him on other cases”.

The defence counsel, Samson Ewuje however, did not pose any objection.

Justice Onah adjourned the matter to October 14, 2024 for trial and the defendant was remanded at the Uyo Zonal Directorate of the EFCC.

Isip was arrested based on a petition from one Michael George, alleging that he lured him to invest in his online trading platform called Vandora.io.

According to the petitioner, the defendant told him that it was more profitable to trade on his platform with a minimum trading capital of $100,000.00 (One Hundred Thousand Dollars) and that he would earn more profit if he involved more investors.

The petitioner thereafter invested, reached out to other investors and companies who also invested in the defendant’s phony online trading platform and after 60 days (as agreed) for the investors to start earning their profits, the defendant disappeared into thin air.

Crime

Amotekun Arrests Father, Three Sons for Alleged Kidnapping in Ondo

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Poly Student dies after Amotekun shot him in Ondo

The Ondo State Security Network Agency, codenamed Amotekun, has arrested a 56-year-old man, Iliasu, alongside his three sons over their alleged involvement in a kidnapping operation in Oba-Akoko, Akoko South-West Local Government Area of the state.

The suspects, identified as Usman (33), Wahab (27), and Yakubu (18), were paraded in Akure alongside 24 other suspects arrested for various offences by the state security outfit.

Speaking during the parade, the Commander of Amotekun in Ondo State, Akogun Adetunji Adeleye, disclosed that the victim, Oyebade Samuel, was abducted while travelling to Oba-Akoko after his vehicle developed a mechanical fault along the road.

SEE ALSO: Army Rescues Five Kidnap Victims as Terrorists Flee Kogi Forest Hideouts

According to Adeleye, four armed men emerged from the bush carrying guns, cutlasses, and sticks before attacking and dragging the victim into the forest.

The kidnappers initially demanded a ₦40 million ransom but later reduced it to ₦1.6 million, which the victim’s family paid.

Despite receiving the money, the suspects allegedly refused to release the victim and warned the family against involving security agencies.

Following the suspects’ failure to honour the agreement, the family contacted Amotekun, prompting an intelligence-led operation that traced the kidnappers to a family of four who allegedly disguised themselves as cattle rearers while operating a kidnapping syndicate.

Adeleye said the suspects resisted arrest and attacked Amotekun operatives during the rescue mission but were eventually overpowered.

The victim was rescued with multiple machete and knife injuries sustained during captivity and was immediately taken to the hospital for treatment.

The Amotekun commander further revealed that more than 75 per cent of the ₦1.6 million ransom was recovered, alongside alcoholic drinks, drugs, cigarettes, and other items allegedly linked to the suspects.

He added that one of the suspects, believed to be the gang leader, had been on Amotekun’s watchlist since 2024 over several kidnapping incidents in the Ondo North Senatorial District but had fled the state before recently returning to allegedly mastermind the latest abduction.

Adeleye reiterated that the security outfit discourages the payment of ransom, assuring that all recovered money would be returned to the victim’s family.

“There is no hiding place for criminals in Ondo State, whether in the forests or within our communities. We remain committed to protecting lives and property,” he said.

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Crime

Police Nab 21-Year-Old With Suspected Human Hand, Guns in Lagos

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Operatives of the Lagos State Police Command have arrested a 21-year-old man, Samson Onilewaji, after allegedly discovering a suspected human hand, firearms and other items believed to be linked to criminal activities during a routine stop-and-search operation along the Lekki-Epe Expressway.

The arrest was confirmed on Friday by the command’s spokesperson, CSP Abimbola Adebisi, who disclosed that the suspect was travelling in an unregistered commercial shuttle bus alongside five other passengers when police officers intercepted the vehicle for inspection.

ALSO READ: BREAKING: Tinubu Sends State Police Bill to Senate as Nigeria Moves to Overhaul Security System

According to Adebisi, a thorough search of the vehicle and its occupants led to the recovery of a suspected human right hand, two locally made pistols, one live cartridge, two axes, a Point of Sale (POS) terminal and five ATM cards from the suspect.

She further revealed that preliminary investigations showed the suspect allegedly confessed to recently robbing three people of their valuables, including the POS machine and ATM cards recovered from him.

The police spokesperson said investigators are working to determine the identity of the owner of the suspected human hand, how it came into the suspect’s possession and what it was allegedly intended to be used for.

She added that efforts are ongoing to track down other suspected members of the criminal network believed to be connected to the suspect.

Adebisi stated that the suspect would be arraigned in court after investigations are concluded.

She also quoted the Commissioner of Police in Lagos State, CP Tijani Olaiwola Fatai, as reassuring residents of the command’s commitment to tackling violent crimes and ensuring the safety of lives and property across the state.

The police commissioner urged members of the public to remain vigilant and continue providing useful and timely information that could assist security agencies in preventing crime and bringing criminals to justice.

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Crime

Shock in Abia as NDLEA Arrests Two Grandfathers for Selling Drugs to Secondary Students

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The National Drug Law Enforcement Agency (NDLEA) has arrested two elderly men aged 84 and 75 for allegedly supplying illicit drugs to secondary school students in Umuahia, Abia State, in a shocking case that has stirred public concern.

The suspects, identified as Godfrey Orji (84) and Godwin Obulunbiya Obiora (75), were arrested in separate intelligence-led operations by NDLEA operatives over their alleged involvement in drug distribution within school communities.

Drugs hidden in patent medicine shop

According to the NDLEA Director of Media and Advocacy, Femi Babafemi, Obiora was arrested on June 19, 2026, after credible intelligence linked him to selling illicit substances to students from his patent medicine store located at 4 Club Road, Umuahia.

SEE MORE: ‘They Beat Me Like a Criminal’— Ex-BBN Housemate Opens Up On NDLEA Nightclub Raid Ordeal

A search of the premises reportedly led to the recovery of 4.64 kilograms of opioids, including tramadol and diazepam.
Babafemi stated: “Pa Obiora was arrested by NDLEA operatives following credible intelligence that he was selling illicit substances to young students and others in his patent medicine store.”

Arrest at school exposes second suspect

In a separate operation, Godfrey Orji, a pensioner, was apprehended after he was allegedly caught supplying drugs to students of Saint Silas Secondary School, Old Umuahia.

Security guards at the school reportedly intercepted him and handed him over to the police, who later transferred him to the NDLEA.

One of the teenage students, a 15-year-old SS2 pupil, allegedly confessed during interrogation that the suspect regularly supplied him with drugs, which he also sold to other students.

Students moved to rehabilitation

The NDLEA confirmed that while the two suspects will face prosecution, the affected students have been placed under counselling and rehabilitation programmes as part of efforts to curb drug abuse in schools.

Nationwide crackdown continues

The Abia arrests come amid ongoing nationwide operations by the NDLEA, which also recorded major drug seizures across the country In Lagos, operatives intercepted 9.5kg of ADB-Chminaca, a synthetic cannabinoid concealed in a shipment from China.

Another raid uncovered 300 grams of cannabis (“Loud”) hidden in handbags at a logistics facility.

A drug dealer’s home in Ajah was raided, with codeine syrup and cannabis recovered.
In Kogi State, a suspect was arrested with 1.030kg of methamphetamine hidden in custard containers.

In Oyo State, operatives recovered 1,416kg of skunk during a major raid.

In Edo State, large cannabis farms were destroyed, with over 4,000kg of cannabis recovered or eradicated.

NDLEA vows stronger enforcement

NDLEA Chairman and Chief Executive, Brig. Gen. Mohamed Buba Marwa (retd.), commended operatives across multiple states for their coordinated operations and urged them to sustain the momentum.

He reaffirmed the agency’s commitment to both enforcement and public sensitisation under its War Against Drug Abuse (WADA) campaign.

The NDLEA says it will continue its nationwide crackdown on drug trafficking networks, especially those targeting vulnerable young people in school environments, as investigations and prosecutions continue in the Abia case.

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