The Financial and Monetary Crimes Fee (EFCC) arraigned Victor Ekpong Thompson earlier than the Federal Excessive Courtroom in Uyo for allegedly defrauding a number of People of $525,276 via a pretend funding scheme.
The anti-graft company disclosed the event in an announcement shared on its official X account on Monday.
In accordance with the EFCC, Thompson was introduced earlier than Justice Maureen Adaobi on eight counts bordering on acquiring cash by false pretence, linked to purported investments in mineral assets and a deep-sea port enterprise.
What the EFCC is saying
In its assertion, the EFCC mentioned Thompson allegedly obtained funds from victims, together with Tammy Jensen, Peter Jensen, Kenneth Blad, and others, between April and December 2024.
The fee mentioned the defendant introduced himself as an funding facilitator, persuading the victims to commit funds to mining and deep-sea port initiatives that had been later discovered to be fictitious.
“The Financial and Monetary Crimes Fee, EFCC, Uyo Zonal Directorate on Thursday January 29, 2026, arraigned Victor Ekpong Thompson earlier than Justice Maureen Adaobi of the Federal Excessive Courtroom sitting in Uyo for allegedly defrauding some People the sum of $525. 276 (5 Hundred And Twenty 5 Thousand, Two Hundred And Seventy Six United States {Dollars}),” the assertion learn partially.
Particulars of the costs and courtroom proceedings
One of many costs alleged that Thompson fraudulently obtained $213,350 from the victims below the guise of joint investments.
The EFCC mentioned the offence is opposite to Part 1(1)(b) of the Advance Price Fraud and Different Associated Offences Act, 2006.
- The fee mentioned Thompson pleaded not responsible when the costs had been learn in courtroom.
- Following his plea, the prosecution requested a trial date and requested the courtroom to remand the defendant pending the dedication of the case.
- The defence, nonetheless, made an oral bail utility, which the prosecution opposed.
Justice Adaobi adjourned the matter to March 19, 2026. The date was set for ruling on the bail utility and graduation of the trial.
The courtroom ordered that the defendant be remanded on the EFCC detention facility in Uyo.
Why it issues
The arraignment comes amid a sample of funding scams in Nigeria, with a number of instances over time involving Nigerians defrauding each native and overseas victims. This case highlights how some schemes goal worldwide traders below the guise of reliable enterprise alternatives.
Its sudden collapse blocked traders from accessing their funds, inflicting losses exceeding N2.4 billion and exposing important gaps in Nigeria’s regulatory framework for digital investments.
What it is best to know
The EFCC has sustained its crackdown on monetary crimes throughout Nigeria, specializing in corruption, contract fraud, and illicit monetary flows.
- In current instances, the fee arraigned BFI Group Company and 6 people earlier than the FCT Excessive Courtroom in Jabi, Abuja, over an alleged try and defraud the Central Bank of Nigeria (CBN) of €100 million utilizing a pretend Certificates of Capital Importation.
- The EFCC additionally recovered N1.234 billion from Sujimoto Luxurious Development Restricted over its failure to ship 22 sensible faculty initiatives in Enugu State.
- In a separate case, the fee arraigned Alhaji Mohammed Danjuma over an alleged N2.2 billion fraud linked to the Multi-Sectoral Disaster Restoration Mission (MCRP).
Past contract-related instances, the EFCC mentioned it uncovered a N162 billion cryptocurrency-related fraud involving a business bank, six fintech companies, and several other microfinance banks. The fee cited lapses in customer due diligence and anti-money laundering compliance throughout the 2024/2025 monetary yr.
