A Special Offences Court in Ikeja, Lagos, presided over by Justice R.A. Oshodi, has found a former regional head of NEXIM Bank in Lagos, Ugenyi Kalu, guilty of fraud
This was disclosed by the Lagos Zonal Directorate of the Economic and Financial Crimes Commission (EFCC), on Tuesday, February 18, 2025.
Kalu faced a five-count charge relating to official corruption and gratification, specifically for receiving a bribe of N4 million in November 2016, from Obi Ogoh in connection with a loan granted to Ogoh’s company, Sevirg AgroAllied Mills Limited.
The convict was arraigned on a five-count charge, bordering on official corruption and gratification, thereby committed an offence contrary to Section 8 (1)(a) of the Corrupt Practices and Other Related Offences Act, 2000 and punishable under Section 8 (1)(b)ii of the same law.
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Despite pleading not guilty, the prosecution presented compelling evidence, including testimonies from six witnesses, two of whom were Kalu’s colleagues at NEXIM Bank.
On February 12, 2025, Justice Oshodi ruled that the prosecution had established its case beyond reasonable doubt, resulting in Kalu’s conviction on four charges.
He was sentenced to four years and two months in prison or the option to pay a fine of N20, 850, 000.
