AfriPulse
A Compliance Officer with Guaranty Trust Bank (GTBank), Levi Amanda Opice, on Monday, June 29, 2026, gave evidence in the ongoing trial of Ifoma Immanuel, the principal figure behind Intermediate Investment Holdings Limited, over an alleged $1.5 million fraud case before the Lagos State Special Offences Court, Ikeja.
Immanuel and his company are facing a two-count charge filed by the Economic and Financial Crimes Commission (EFCC), bordering on obtaining money by false pretence and forgery involving the alleged sum of $1.5 million.
The EFCC alleged that Immanuel obtained the funds from Adebisi Adebutu of R28 Holdings Limited after representing that the investment would be used to finance projects connected to Chappal Petroleum Development Company Limited, Intermediate Investment Holdings Limited, and Chappal Energies Mauritius Limited.
The anti-graft agency further claimed that the investment arrangement included assurances that the funds would be refunded, as well as a promise of a $2.25 million development capital fee and a 22.4 per cent equity stake in Intermediate Investment Holdings Limited.
At Monday’s proceedings before Justice Mojisola Dada, Opice, who appeared as the EFCC’s third prosecution witness, narrated how financial records traced a N305 million transfer allegedly connected to the transaction under investigation.
Led in evidence by EFCC counsel, E. E. Iheanacho, SAN, alongside Babatunde Sonoiki, the witness told the court that ABICO Plc transferred N305 million within a single day to the account of 107 Global Limited domiciled with Providus Bank.
According to him, the payment was made through four separate transfers — three tranches of N100 million each and another transfer of N5 million.
Opice informed the court that ABICO Plc, linked to Adebutu, made the transfers to 107 Global Limited, an account operated by a Bureau De Change operator who allegedly facilitated the release of the funds to the defendants.
The GTBank official also disclosed that the bank received a request from the EFCC dated May 30, 2025, seeking the account statement and account-opening documents of ABICO Plc.
He said GTBank responded to the request in a letter dated October 16, 2025, forwarding the requested documents, which were later tendered before the court and admitted as exhibits.
Earlier, the prosecution recalled its second witness, Paul Olufemi, a Compliance Officer with Providus Bank, to complete his testimony.
During Olufemi’s appearance, the EFCC presented additional banking documents, including its request to Providus Bank, the bank’s response, and accompanying records.
Although defence counsel objected to the admission of the documents, arguing that there was no proof of payment, Justice Dada dismissed the objection and admitted the exhibits.
The court subsequently adjourned the matter until June 30, 2026, for continuation of trial.
Source: FirstWeeklyMagazine | Read the Full Story…
