The Economic and Financial Crimes Commission (EFCC) has prosecuted three individuals and two companies over an alleged theft of N652.18 million, while separately securing the conviction of four persons for illegal foreign exchange transactions and unlawful trading of naira notes.
It also recovered N125 million for a victim of an alleged land fraud in Lagos. The cases were handled by the commission’s Lagos Zonal Directorates 1 and 2 between August 5 and 7, 2026.
At the Special Offences Court sitting in Ikeja, Lagos, the EFCC on Wednesday, arraigned Jacob Acheneje Okolo, Yakubu Wisdom Onu Solomon and Issa Aloba Lateef, alongside Upper-Level Energy Resources and Crescent Integrated and General Merchandise Limited, over an alleged N652,182,601.44 theft.
The defendants were arraigned before Olubunmi Abike-Fadipe on an eight-count charge bordering on conspiracy to steal, stealing and money laundering.
According to the EFCC, the alleged offences occurred between 2022 and 2025 in Lagos and involved funds belonging to Petrocam Trading Nigeria Limited.
