Reported by: Ijeoma G | Edited by: Gabriel Osa
A Federal High Court sitting in Ikoyi, Lagos, on Tuesday ordered the remand of a citizen of the Republic of Niger, identified as Isiaka Ibrahim, at the Ikoyi Correctional Centre following his arraignment on allegations of defrauding two individuals of N351.5 million in a case that has drawn attention to ongoing fraud and economic crime prosecutions in Nigeria’s commercial capital.
Presided over by Justice Ibrahim Ahmad Kala, the court’s decision came after the defendant was arraigned on a three‑count charge bordering on conspiracy and obtaining money by false pretence, offences filed by operatives of the Force Criminal Investigation Department (Force CID), Annex, Alagbon, Lagos, under charge number FHC/L/1112c/2025.
During proceedings, the prosecution, led by Morufu Animashaun, told the court that Ibrahim and others still at large allegedly carried out the fraud between February and August 2024 at various locations within Lagos, including addresses at 30 Adegbola Street, Alakuko‑Alagbado, and 22B Fola Jinadu Street, Gbagada Estate, Phase 1.
According to the prosecution’s account, Ibrahim fraudulently induced one Kofoworola Osho to part with N101.5 million under the false pretext that he would provide her with the CFA franc equivalent of her funds — a representation the state says he knew to be untrue. In a separate transaction, he is accused of obtaining N250 million from Adelabu Mutiu in August 2024 by falsely claiming he would invest the money in foreign exchange trading on the victim’s behalf.
The charges, the prosecutor argued, were contrary to Sections 8(a) and 1(1)(a) of the Advance Fee Fraud and Other Fraud‑Related Offences Act, 2006, and are punishable under Section 1(3) of the same law.
Upon being read the charges, the defendant pleaded not guilty to all counts. In response, the defence counsel, Olanrewaju Ajanaku, informed the court that a bail application had already been filed and duly served on the prosecution, arguing that the offences were bailable and stressing Ibrahim’s constitutional right to be presumed innocent until proven guilty.
However, the prosecution opposed bail, telling the court that Ibrahim — a foreign national — posed a flight risk due to his alleged lack of a fixed residential address in Lagos or elsewhere in Nigeria.
After hearing submissions from both sides, Justice Kala adjourned the case to February 9, 2026, for both the commencement of trial and the hearing of the pending bail application, and ordered that Ibrahim be remanded in custody at the Ikoyi Correctional Centre pending further proceedings.
The case highlights ongoing efforts by Nigerian law enforcement and judicial authorities to tackle fraud and financial crimes, particularly those involving foreign nationals or cross‑border transactions. In recent years, Lagos courts have handled a rising number of high‑value fraud cases, many involving allegations of advance fee schemes, cyber fraud and other economic crimes that have significant financial and social implications.
Advocates for stronger anti‑fraud measures have pointed to the importance of efficient prosecution and judicial processes in deterring complex financial crimes that can undermine investor confidence and economic stability. Meanwhile, legal practitioners emphasise the need for balance between rigorous enforcement and protection of defendants’ constitutional rights, especially in cases involving allegations that carry heavy penalties and potential immigration consequences.
The Federal High Court’s handling of the Ibrahim case reflects ongoing judicial scrutiny of economic crime allegations, as authorities continue to reinforce legal frameworks to address fraud and financial misconduct. Pending the next hearing in February, the matter remains a focal point for discussions about legal accountability, cross‑border crime, and the judiciary’s role in upholding the rule of law in Nigeria’s commercial hub.
📩 Stone Reporters News | 🌍 stonereportersnews.com
✉️ info@stonereportersnews.com | 📘 Facebook: Stone Reporters | 🐦 X (Twitter): @StoneReportNew | 📸 Instagram: @stonereportersnews
Add comment
Comments