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N10m fraud : Court grants Lanre Smith N30m bail for defaulting his Old team mates of Island Football Club

A Federal High Court sitting in Lagos on Tuesday granted N30m bail to a businessman, Lanre Smith, accused of N10m fraud.
Justice Ibrahim Kala granted the bail following a motion filed and argued by the defendant’s lawyer, Akin Apara.
Apara who pleaded with the court to admit the defendant to bail on liberal terms stated that Smith was still presumed innocent until otherwise proved.
The judge agreed with the defence’s submission and granted bail to the defendant in the sum of N30m, with two sureties in like sum.
Kala said one of the sureties must be a Grade Level 14 at a government establishment and second, must be a landed property owner within the court’s jurisdiction.
He also ordered that Smith should submit his passport with the court’s deputy chief registrar.
However, after granting the defendant bail, trial commenced and the prosecution counsel, Mike Enejere, called the first witness, Stephen Ogunlola, an operative of Interpol Section of Force CID Annex, Alagbon.
Ogunlola told the court that after the conclusion of investigation, findings emerged and that the nominal complainant and the defendant were old team mates from the defunct Island Football Club.
He said the defendant had approached the complainant for a foreign transaction, and that the complainant availed his Well Fargo Account in the US for the transfer of the forex funds.
The witness said, “That the bone of contention from our investigation was the transaction of $26,000 which the account of the nominal complainant is under investigation by the authority in US.”
Apara, who cross-examined Ogunlola, tendered a statement made by Ogunlola who had also testified as the first prosecution witness before Justice Ayokunle Faji, in the same case involving one Precious Usifo, where he had stated that the “culprit, Usifo Precious, residing in Benin has paid back the money. So, my investigation did not review anything wrong done by Mr Lanre Smith.”
Ogunlola also told the court that the defendant had in his statement of facts, stated that: “He met the nominal complainant, Okwudili Okeke, sometime in March 2014 in a football club in Lekki where they are both members.
“Okwudili Okeke sometime in 2016 approached him to help source for the sum of $40,000 or more. And that he had informed Okeke not to pay dollar equivalent until the dollars had been delivered.
“He approached one Mr. Ahmed Mukhaila who had informed him that the dollars were available for sale in the United States. And that he had informed Mukhaila that he will only accept cash from him so as to be certain that the funds were legitimately his.
“Mukhaila initially paid the sum of $20, 000 to Okwudili Okeke’s Wilok Wells Fargo account in the United States and provided him with the deposit slip showing the cash deposit which he then sent to Okeke,” the witness said.
The witness also told the court that Okeke paid the fair market value for the dollars to Pay Express, a company not operated by him (but the company that was introduced by Ahmed Mukhaila to him). This money was then forwarded to Mukhaila. And Mukhaila thereafter provided him with a deposit slip for $26,000.
According to him, upon seeing the said slip, Okeke noticed that it was not a cash deposit and he immediately called Mukhaila to express his displeasure and instructed that the same be recalled.
“Mukhaila thereafter put him on a conference call with some of his Bureau de Change colleagues who confirmed that the reason for the bankers’ cheque deposit was as a result of the volume of the money and that the bank will not accept cash deposit of the said volume.
“Okeke then insisted that Mukhaila and his colleagues should sign an agreement to the effect that the said money is legitimate and that they will indemnify Smith against any liability as a result of the funds.
“Interpol invited Mukhaila and his colleagues which include Awulu Hassan, Saidi Paki, Huzeni Taeeb, Adigure Chares, Elizabeth Aruoma and Anthony Ojo, who confirmed that they sold the $26,000 in question,” he said.
Smith was arraigned on January 30, 2024, before the court by the police. He is facing charges of alleged conspiracy and fraud preferred against him by the police.
The police prosecutor, Mr Mike Enejere, told the court that the defendant and others at large had sometime in August 2016, conspired among themselves and conducted a financial transaction which involved proceeds of unlawful activity.
However, the defendant, who is the founder of Grocedy Limited, pleaded not guilty to the charges.
The case has been adjourned till March 24, for continuation of trial.
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Breaking : EFCC declares Sujimoto CEO , Olasijibomi Ogundele, wanted over money laundering

The Economic and Financial Crimes Commission has declared a Lagos-based businessman, Olasijibomi Ogundele, wanted over alleged diversion of funds and money laundering.
In a wanted notice signed by its Head of Media and Publicity, Dele Oyewale, and posted on its official X handle on Friday, the Commission appealed to members of the public with credible information about Ogundele’s whereabouts to come forward.
The notice read, “The public is hereby notified that Olasijibomi Ogundele of Sujimoto Luxury Construction Limited, whose photograph appears above, is wanted by the Economic and Financial Crimes Commission in an alleged case of diversion of funds and money laundering.
“Ogundele is a 44-year-old indigene of Ori-Ade Local Government Area of Osun State. His last known address is: G29, Banana Island, Ikoyi, Lagos State.
“Anybody with useful information as to his whereabouts should please contact the Commission in its Ibadan, Uyo, Sokoto, Maiduguri, Benin, Makurdi, Kaduna, Ilorin, Enugu, Kano, Lagos, Gombe, Port Harcourt or Abuja offices, or through 08093322644; its e-mail address: info@efcc.gov.ng, or the nearest Police Station and other security agencies.”
Ogundele, the founder and Chief Executive Officer of Sujimoto Luxury Construction, is known for high-end real estate developments in Lagos, particularly in Ikoyi and Banana Island.
The company has gained prominence in Nigeria’s luxury property market, with projects valued in billions of naira.
Although the EFCC has not disclosed the specific amount allegedly diverted, the declaration signals that Ogundele is under investigation for serious financial crimes.
The wanted notice also highlights the Commission’s increasing focus on high-profile individuals in the private sector who are suspected of laundering illicit funds through real estate and luxury investments.
The EFCC has in the past vowed to curb money laundering and bring to book those suspected of involvement, whether among politicians, the civil service, the private sector, or within Nigeria’s booming property market, which anti-graft agencies have repeatedly identified as a key channel for concealing the proceeds of corruption.
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Insecurity : Tinubu seeks federal lawmakers’ backing, says I have to create state police

President Bola Ahmed Tinubu yesterday expressed his administration’s readiness to work with the National Assembly leadership to dismantle political and bureaucratic bottlenecks stalling the operationalisation of state police.
Speaking at the State House, Abuja, during a meeting with members of the Northeast Governors Forum led by Borno State Governor Prof Zulum, the President said the time had come for a clear, collective path towards community-based policing that reflects the peculiar needs of different regions.
“I have been looking at the security situation more carefully. I have seen the Civilian JTF react to the security challenges, finding so many creative ways to protect neighbourhoods and communities around you, and that provoked my thinking about state police again.
“Politics apart, we can discuss with the National Assembly leadership to really look at a critical path to that again, see how we can eliminate or douse political alliances from state police that will be indigenous to the community and provide the additional safety buffer and effectiveness in the area. We have to look at it collectively together.”
The President stressed that while political concerns will always surface around the issue, they must not be allowed to derail urgent security reforms.
He said his government was committed to ensuring that the proposed structure would be insulated from partisanship and designed purely to strengthen safety across communities.
Tinubu also vowed not to allow partisan politics or early campaign distractions to shift his focus from national priorities.
“In the political environment we are being drawn into early political activities from our rival political parties but whichever way it is, I am not detracted. I am solidly focused, laser focused on what is ahead,” he told the governors.
He said the gains already being recorded in the Northeast – including improved security, resettlement of displaced persons, rising school enrolment, and new housing projects – were proof that collaborative governance works.
The president urged the governors to sustain their commitment to development and security while assuring them of continued federal support.
“In the short run of two years, we can beat our chest, the economy has turned round. Many of you are already sending back displaced citizens, the housing programme you embarked upon in Borno and collectively seen how displaced people are returning to their normal residences and having a roof over their head,” the President noted.
Tinubu further highlighted agricultural mechanisation as a priority, disclosing plans to establish training and maintenance centres in all zones of the country to drive food sovereignty.
He also commended Yobe State for producing outstanding students despite the region’s challenges, describing it as a sign of resilience and progress.
The president concluded thanked the governors for their dedication, saying the combined efforts of federal and state governments were laying the foundation for a safer and more prosperous Nigeria.
Zulum, who spoke for the governors, urged the president to prioritise the completion of 17 strategic roads across the region and resume oil exploration in the Kolmani and Lake Chad Basins.
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SWITZERLAND PLEDGES SUPPORT FOR NIGERIA’S BID FOR IMO CATEGORY ‘C’ SEAT, Says Oyetola

Nigeria’s quest to secure a Category ‘C’ seat on the International Maritime Organization (IMO) Council for the 2026/2027 biennium received a major boost today as the Government of Switzerland formally pledged its support.
The Honourable Minister of Marine and Blue Economy, H.E. Adegboyega Oyetola, CON, received the letter of endorsement during a courtesy visit by the Swiss Ambassador to Nigeria, H.E. Patrick Felix Egloff, at the Ministry’s headquarters in Abuja.
Expressing his delight, Oyetola described the Swiss government’s backing as “a significant milestone in Nigeria’s campaign and a strong testament to the Federal Government’s commitment to upholding international maritime standards.”
According to the Minister, Nigeria’s election into the IMO Council would further strengthen global efforts towards building “a more robust, safe, and sustainable maritime industry.”
Highlighting Nigeria’s maritime potential, Oyetola disclosed that the country boasts 200 nautical miles of Exclusive Economic Zone and an extended continental shelf of 16,300km, positioning it as a strategic maritime nation.
“With these vast endowments, Nigeria, by any standard, is a maritime nation. That’s why the Ministry, in collaboration with the World Bank, AU-IBAR, the Kingdom of Norway, and other stakeholders, has developed a comprehensive National Policy on Marine and Blue Economy capable of standing the test of time,” he stated.
Oyetola further revealed that the Federal Government is adopting a Public-Private Partnership (PPP) model to drive rapid investments in the maritime sector. These include inland waterways development, supply of boats, dredging, and navigation infrastructure.
On maritime security, the Minister emphasized the success of the Deep Blue Project, Nigeria’s state-of-the-art surveillance initiative:
“For the past three years, there has been zero piracy in our waters, and we’re committed to sustaining this achievement. We’re also working with other Gulf of Guinea countries to extend safety and security beyond our national waters.”
In his remarks, Ambassador Egloff noted that Switzerland’s decision to endorse Nigeria followed an earlier request from the Ministry in April 2025.
“I’m very glad to convey this letter of support. Switzerland is very happy to stand with Nigeria. You’re a strong candidate, and we appreciate your commitment to multilateralism and the maritime sector. Nigeria plays a very important role globally,” he affirmed.
With Switzerland’s endorsement, Nigeria’s campaign for the IMO Category ‘C’ Council seat gains further international momentum ahead of the elections slated for October/November 2025.
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