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Mayfresh MD, Catholic Sisters In EFCC Net Over Share Fraud

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The Economic and Financial Crimes Commission (EFCC) has taken into custody the Managing Director of Mayfresh Mortgage Bank, Mark Egbegolu, and questioned two Catholic Sisters of Jesus the Saviour (SJS) over allegations of illegal share removal and document falsification at the Corporate Affairs Commission (CAC).

Investigations revealed that Reverend Sisters Annette Ezekwem and Gertrude Okafor were invited for questioning on Wednesday, August 13, and granted bail to Reverend Father Emmanuel Edeh the following day.

Egbegolu, who was arrested on Friday, August 8, is still being held by the EFCC.

READ MORE: Lagos Police Nab Educational Consultancy Staff Over Fake Visa Fraud

Sources familiar with the case said the arrests are connected to claims that shares belonging to the late Chief Steven Edeh, Arc. John Paul, and Mrs. Maria Edeh-Omego were unlawfully erased from CAC records, with the alleged involvement of some CAC personnel.

The matter originated from a petition submitted on May 2, 2025, by the affected shareholders through their legal counsel, Mr. Olu Omotayo.

The petition alleged that the accused persons tampered with shareholding records in breach of Section 175(3) of the Companies and Allied Matters Act (CAMA) 2020, which regulates share transfers in Nigeria.

It stressed that such acts undermine investor confidence and national economic growth.

The petitioners maintained that “even a company’s resolution cannot strip shareholders of their ownership, as shares remain the personal property of an individual until lawfully transferred.”

They further urged the EFCC to treat the matter purely as a criminal case involving the alleged removal of ownership records, and not as a civil dispute over the bank’s internal administration.

An earlier petition, dated November 5, 2024, had been sent to the National Security Adviser, who subsequently referred it to the EFCC.

The complainants alleged that when they met with investigators in February 2025, the commission diverted its focus to bank management issues rather than the alleged forgery.

They claimed this delay and lack of direct action caused emotional strain that contributed to the death of 75-year-old Chief Edeh in March 2025.

Confirming the development, EFCC spokesperson and Deputy Commander, Dele Oyewale, said in a phone interview:

“Yes, the commission arrested them, and an investigation is going on.”

The EFCC is continuing its inquiry and may make additional arrests as it works to unravel the alleged manipulation of Mayfresh Mortgage Bank’s shareholding records.

Crime

Court Pushes Malami, Son’s Terrorism Financing Trial to April 15

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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.

SEE ALSO: Malami Speaks Out On Court Ruling, Urges Nigerians To Stay Calm

“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.

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Crime

How Routine FRSC Patrol Exposed Wanted Driver, Recovered Stolen Sienna

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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.

SEE ALSO: Fatigue, Over Speeding Led To Road Accident Which Claimed 21 Kano Athletes – FRSC

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.

 

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Crime

Election Scandal in Abuja: Woman Busted With 20 Voter Cards in Kabusa

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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.

SEE ALSO: Chaos At Nyanya Polling Unit As PDP, ADC Accuse APC of ₦1,000 Vote Buying

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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