N338m Fraud: Supreme Court Orders Re-trial of Ex-Lagos Speaker, Ikuforiji

Hamilton Nwosa
Writer

Ad

$4.5bn: Court Admits More Evidence Against Emefiele

Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, on October 9,2025, admitted more evidence against a former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, in an alleged $4.5bn fraud. Emefiele is standing trial on a 19-count charge bordering on receiving gratification and corrupt demand preferred against him by…

NEITI Warns of Deepening Transparency Crisis, Says Nigeria Lost $3.3bn to Oil theft, Sabotage

By Obinna Uballa Nigeria lost an estimated 13.5 million barrels of crude oil valued at $3.3 billion to theft and pipeline sabotage between 2023 and 2024, the Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed. Executive Secretary of NEITI, Dr. Ogbonnaya Orji, disclosed this on Thursday at the 2025 Association of Energy Correspondents of Nigeria…

Oil Eases over 1.5% after Gaza ceasefire

Summary Israel and Hamas agree to Gaza ceasefire, return of hostages US oil product supplied highest since December 2022, EIA says Stalled peace talks in Ukraine underpin prices Oil prices edged slightly lower on Thursday after Israel and the Palestinian militant group Hamas signed an agreement to cease fire in Gaza. Brent crude futures were…

Ad

A five-man panel of the Supreme Court on Friday, January 12, 2018 ordered the re-trial of a former Speaker of the Lagos State House of Assembly, Adeyemi Ikuforiji, who was charged with an alleged N338m fraud.
The apex court had reserved judgment till today to determine whether or not Ikuforiji should be tried afresh, as ordered by the Court of Appeal.
The panel headed by Justice Mary Peter-Odili unanimously ruled that the case be re-assigned to another judge of the Federal High Court instead of Justice Ibrahim Buba, who had earlier absolved Ikuforiji of the charge.
Justice Buba had, in a ruling in September 2014, held that the Economic and Financial Crimes Commission, EFCC, failed to establish a prima facie case against Ikuforiji and his former aide, Oyebode Atoyebi.
The judge had also dismissed the 56-count charge preferred against the accused by the EFCC.
Dissatisfied with Justice Buba’s ruling, the EFCC appealed to the Court of Appeal, which upturned the ruling.
The appellate court had also ordered both Ikuforiji and Atoyebi to be tried by another judge.
However, in 2016, both Ikuforiji and Atoyebi, with whom he was charged, tried and absolved of the charge by Justice Buba had approached the apex court, where they filed separate appeals against the decision of the Court of Appeal.

Ad

Unlocking Opportunities in the Gulf of Guinea during UNGA80
X whatsapp