The anti-graft agency confirmed the development in a post shared on its official X handle on Thursday, May 14, 2026.
Justice Mojisola Dada of the Lagos State Special Offences Court sitting in Ikeja, Lagos, on Thursday, May 14, 2026, convicted and sentenced a businessman, Kingsley Obasi, to seven years imprisonment over a $247,390 fraud case, in a ruling that also affected his firm, Great King Parkson Industrial Company.
Obasi was arraigned alongside his company by the Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 1, on February 22, 2023, on a one-count charge bordering on stealing, contrary to Section 287(9)(b) of the Criminal Law of Lagos State, 2011.
The anti-graft agency confirmed the development in a post shared on its official X handle on Thursday, May 14, 2026.
Delivering judgment, the court found the defendant guilty of the charge and sentenced him to seven years imprisonment for his role in the fraudulent transaction involving $247,390.
