Justice Mojisola Dada of the Special Offences Court in Ikeja, Lagos, has rejected the preliminary objections and bail request submitted by Ufoma Joseph Immanuel in connection with an alleged $1.5 million fraud case on Thursday .
The Economic and Financial Crimes Commission (EFCC) had charged Immanuel and Intermediate Investment Holdings Limited on March 11, 2026, with two counts related to obtaining money under false pretenses and forgery.
The EFCC claims that the defendants persuaded Adebisi Adebutu of R28 Holdings Limited to invest $1.5 million in transactions associated with Chappal Petroleum Development Company Limited, Intermediate Investment Holdings Limited, and Chappal Energies Mauritius Limited based on allegedly false claims.
Additionally, the agency accused Immanuel of forging a document titled: “TERM SHEET,” which was falsely attributed to Sheriff Oluwo and Olaniran Osotuyi to facilitate the purported fraud.
Immanuel has pleaded not guilty to the charges.
After her arraignment, prosecution attorney, Babatunde Sonoiki requested that the court keep Immanuel in custody, while investigations continue.
Sonoiki also accused defense attorney, Oluseun Awonuga (SAN,) of physically assaulting his colleague, Emenike Mgbemele during court proceedings on March 2, 2026.
He alleged that Awonuga attacked Mgbemele on a staircase, while he was trying to serve court documents to the defendant and mentioned that the prosecution planned to present video evidence of the incident.
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Awonuga did not respond to the assault allegation, but urged the court to disregard the prosecution’s counter-affidavit, asserting that the Federal High Court had previously prohibited the EFCC from arresting the defendant.
In response, Sonoiki argued that the ruling cited by the defense, stemmed from a civil case and did not prevent the defendant from being arraigned in a proper criminal court.
He emphasized that civil and criminal proceedings could occur simultaneously, referencing Supreme Court precedents.
Justice Dada ultimately dismissed both the preliminary objections and the bail request made by the defendant.
