Reported by: Ijeoma G | Edited by: Ruth .J
The Lagos Zonal Directorate 1 of the has secured the conviction of and his company, , over a fraud involving ₦822,422,260.
On Friday, July 10, 2026, Justice R. A. Oshodi of the Lagos State Special Offences Court sitting in Ikeja, Lagos, convicted and sentenced Minnis Uchenna Howard after he pleaded guilty to an amended one-count charge of dishonestly converting ₦822,422,260 belonging to to his own use. The prosecution was conducted by the Economic and Financial Crimes Commission (EFCC).
According to the EFCC, Howard and his company were initially arraigned on November 30, 2023, on a two-count charge bordering on obtaining by false pretence and stealing, to which they pleaded not guilty. During the trial, the prosecution, led by M. K. Bashir, presented four witnesses and tendered several documentary exhibits, while the defence called two witnesses.
The commission stated that the defendants were re-arraigned on July 3, 2026, on an amended one-count information accusing them of dishonestly converting funds paid by Krystal Lubes Limited for the purchase of 900,000 litres of SN900 Base Oil and 500,000 litres of SN500 Base Oil.
Following their guilty plea to the amended charge, the prosecution urged the court to convict the defendants based on the plea and the evidence already presented during the trial.
In his judgment, Justice Oshodi sentenced Howard to two years and four months imprisonment, while Howard Minnis Asset Management Limited was ordered to pay a ₦10 million fine.
The court also directed the defendants to make full restitution of ₦822,422,260 to Krystal Lubes Limited within one year, in accordance with a nomination agreement executed by the defendants, their guarantor and the petitioner.
Additionally, Justice Oshodi ordered that the ₦45 million recovered during the EFCC's investigation be released to the victim, Krystal Lubes Limited, within seven days.
The EFCC said Howard was convicted for dishonestly converting to his own use the ₦822,422,260 entrusted to him for the procurement of petroleum base oil products, an offence contrary to the Criminal Law of Lagos State.
📩 Stone Reporters News | 🌍 stonereportersnews.com
✉️ info@stonereportersnews.com | 📘 Facebook: Stone Reporters News | 🐦 X (Twitter): @StoneReportNew | 📸 Instagram: @stonereportersnews
Add comment
Comments