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N162m Fraud: Medical Report Stalls Sentencing of Convicted Fake BDC Operators

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The slated sentencing of two convicted Bureau De Change (BDC) operators, Uju Peace Izuogu and Richard Owegie, by a Federal High Court, Lagos, has been stalled, due to the failure of the convicts’ counsel to furnish the court with the medical report of one of the convict.

The court presided by Justice Ayokunle Faji, had on November 27, 2020, convicted the two fake BDC operators alongside their company, Reoworld Enterprises Limited, of N162 million fraud brought against them by the Police Special Fraud Unit (PSFU) Ikoyi-Lagos.

Justice Faji had adjourned till last Friday, for further allocutus and sentencing, following an appeal made by Mr. E. E. Okoli, who had begged the court for a short adjournment, to enable him produce a medical report of his client, Uju Peace Izuogu, who he said is having heart-related challenges.

However, at the resumed of the matter of Friday, Uju’s counsel, failed to produce the medical report as promised on the excuses that the officials of Nigerian Correctional Services (NCoS) demanded for a court order before they can issue medical report of the convict.

In a swift response to Okoli’s submission, the prosecutor, Mr. Emmanuel Jackson, a Chief Superintendent of Police (CSP) described the adjournment request as a ploy to waste court’s precious time by the convict’s counsel. Adding that the counsel failed to raise his client’s health issue in his final written address, wondered why he is begging the court to take cognisance of such at the day slated for the sentencing of the convicts.

CSP Jackson, while cited plethora of authorities, said since the business of the day was for further allocutus and sentencing, the court should discountenance the adjournment request and go ahead with the sentence of the convicts.

Meanwhile, Justice Ayokunle Faji, has stated that whether or not the convict’s medical report is produced, the court will pronounce its sentences on December 11, 2020.

The two convicted fake BDC operators were charged before the court alongside their company, Reoworld Enterprises Limited on a three count-charge of conspiracy, obtaining by false pretence and fraud of N162 million, by the Police Special Fraud Unit (PSFU) Ikoyi, Lagos.

Justice Faji, had on November 27, 2020, pronounced the fake BDC operators guilty of all the three counts charge levelled against them by the PSFU. after finding them guilty of the allegations.

In pronouncing the convicts guilty as charged, Justice Fajj held that: “I’m satisfied that the prosecution has proved the case of the three count charge against the defendants, beyond every reasonable doubts. The defendants are hereby guilty as charged”.

Justice Faji, after convicting the defendants, had adjourned till last Friday, December 4, for further allocutus and sentencing, sequel the demand made by Mr. Okoli, who had begged the court to consider the state of health of his client, Uju Peace Izuogu, in sentencing them.

To ascertain Okoli’s claim, the presiding judge, had ordered him to furnish the court with a medical report. However, when the matter resumed of Friday, Okoli could not still produce the medical report.

The convicts were accused of defrauding a lawyer, Nwosu Maduabuchi and others of the sum of N162 million, under the pretence that they will assist him in sending it to his clients in China, Dubai and Turkey, for the payment of goods he ordered for.

They were accused of using their unregistered company, Reoworld Enterprises Limited, to carry out the fraudulent acts between January and May 2016.

The offences according to the prosecutor, CSP Jackson, were contrary to and punishable under sections 8(a) and 1(3), and 1(a) and 1(3) of the Advance Fee Fraud and other Fraud Related Offences Act No. 14 of 2014.

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Senator Gbenga Daniel Celebrates Aare Adetola EmmanuelKing at 50

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Senator Gbenga Daniel Celebrates Aare Adetola EmmanuelKing at 50

The distinguished Senator representing Ogun East Senatorial District and Chairman of the Senate Committee on Navy, His Excellency, Otunba Engr. Gbenga Daniel, has extended warm congratulations to Aare Adetola EmmanuelKing, Chairman/CEO of Adron Group, on the occasion of his 50th birthday.

In a heartfelt message, Senator Daniel praised Aare Adetola EmmanuelKing for his outstanding dedication and immense contributions to the Nigerian housing sector. He described the celebrant as a shining example in the business community, whose passion and commitment have left an indelible mark on the real estate industry across Nigeria.

“You are indeed a source of inspiration to your generation and a shining example within the business environment. There is no doubt that you had written your name in an indelible ink across Nigeria and most especially among the real estate developers,” he wrote.

Senator Daniel also acknowledged Aare Adetola EmmanuelKing’s conferment as the ‘Otun-Asiwaju of Remo Christians’ by the Ogun State branch of the Christian Association of Nigeria (CAN), as a reflection of his God-fearing nature, philanthropic spirit, and commitment to humanity.

The senator offered prayers for good health, greater accomplishments, and many more remarkable years ahead for the business mogul.

He concluded by affirming his highest regards and admiration for the celebrant

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From Loss to Land: CBEX Victim Gifted Plot in Ibeju Lekki by Swedish Follower

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From Loss to Land: CBEX Victim Gifted Plot in Ibeju Lekki by Swedish Follower

CBEX Crash Sparks Outrage, Tears and Unexpected Kindness: Swedish Fan Gifts Nigerian Investor a Plot of Land

 

The dramatic crash of the CBEX investment platform has triggered a wave of public outrage and heartbreak across Nigeria and beyond, with scores of users lamenting the loss of millions in life savings, business capital, and retirement funds.

The Economic and Financial Crimes Commission (EFCC), along with the Internet Fraud Unit, has reportedly launched a probe into the circumstances surrounding the platform’s sudden collapse. The investigation comes amid mounting pressure from angry investors demanding justice and restitution.

As thousands take to social media to share their personal experiences and financial devastation, one story has stood out—not for its tragedy, but for the unexpected act of generosity that followed.

In a recent Facebook post, Nigerian digital creator Ivan Eagle shared that a Swedish follower, deeply moved by his emotional account of the CBEX fallout—originally reported by Legit.ng—gifted him a full plot of land in Lagos.

“A follower in Sweden just gifted me a FULL plot of land in Lagos after reading my CBEX story on Legit.ng,” Ivan wrote.

He revealed that the property is a 600-square-meter plot in Ibeju Lekki, one of Lagos State’s fastest-growing residential hubs, where land prices under reputable developers like PWAN reportedly start at ₦30 million.

“For those of you who live in Lagos, you all know how Lagos is gradually evolving into Ibeju Lekki, and how residential regions covered by reputable real estate firms in the area have been SOLD OUT,” Ivan added.

A Silver Lining Amid a Financial Storm

The CBEX collapse has left a bitter taste in the mouths of thousands of investors, many of whom believed they were participating in a credible digital asset investment scheme. Online forums and Telegram groups have since been flooded with screenshots of losses, emotional breakdowns, and desperate calls for recovery.

However, Ivan Eagle’s story has become a rare glimmer of hope, showcasing the unexpected humanity that sometimes arises in the aftermath of financial tragedy.

As investigations deepen, questions remain over CBEX’s regulatory compliance, investor protections, and whether its operators will face legal consequences. For now, the EFCC remains silent on the details but has urged victims to submit official complaints through its designated reporting channels.

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Prof Lawan Bala Buratai Appointed Vice Chancellor of Nigerian Army University Biu

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Prof Lawan Bala Buratai Appointed Vice Chancellor of Nigerian Army University Biu After Rigorous Selection

 

In a significant leadership transition at one of Nigeria’s foremost military-civilian academic institutions, Professor Lawan Bala Buratai has been appointed as the new Vice Chancellor of the Nigerian Army University Biu (NAUB).

Prof Lawan Bala Buratai Appointed Vice Chancellor of Nigerian Army University Biu

The appointment was announced following an intensive and merit-based selection process conducted by the Governing Council of NAUB at the Armed Forces Officers Mess and Suites, Asokoro, Abuja. The Council, under the chairmanship of Dr. Awwal Moriki, concluded its deliberations and formally presented the letter of appointment to Prof Buratai in a brief but momentous ceremony.

 

Dr. Moriki, while congratulating the new helmsman, described the selection as the culmination of a transparent and rigorous process aimed at identifying a visionary academic leader who embodies the university’s core values of excellence, discipline, and innovation.

With this appointment, Prof Buratai succeeds Professor Kyari Mohammed, whose single five-year tenure is widely credited with laying a strong foundation for the university’s academic and structural growth.

 

The Nigerian Army University Biu (NAUB) was established in 2018 as a unique public institution owned by the Nigerian Army and designed to serve both military personnel and civilians. Located in Biu, Borno State, the university was conceived as a strategic response to the security and developmental challenges facing Nigeria and the wider Sahel region.

NAUB is focused on entrepreneurship, innovation, defense studies, and technology-driven research. It offers undergraduate and postgraduate programs in diverse fields ranging from engineering and environmental sciences to social sciences, computing, and military history.

 

What sets NAUB apart is its civil-military partnership model, which aims to foster mutual understanding and collaboration between Nigeria’s armed forces and the general populace. The university plays a key role in developing indigenous solutions to security challenges while also contributing to national capacity building and economic resilience through education.

 

With increasing national and international recognition, NAUB continues to attract scholars and partnerships across Africa and beyond, committed to transforming it into a world-class institution in security and development research.

 

Professor Lawan Buratai, a respected scholar and administrator, is expected to lead the university into its next chapter—deepening academic standards, expanding infrastructure, and strengthening NAUB’s role in national transformation.

His appointment signals a continuity of vision with a renewed focus on excellence, innovation, and service to the nation.

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