EFCC secures conviction of banker Ugenyi Kalu for fraud in Lagos, sentencing him to prison or a hefty fine. Kalu was found guilty of receiving a bribe while at NEXIM Bank in 2016.
The Lagos Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) successfully secured the conviction of Ugenyi Kalu, a banker, for fraud before Justice R.A. Oshodi of a Special Offences Court in Ikeja, Lagos.
Kalu was arraigned on five counts of official corruption and gratification. One of the charges stated that, as head of the Lagos Region of NEXIM Bank in November 2016, Kalu received a bribe of N4,000,000 from Obi Ogoh in exchange for facilitating a loan to Ogoh’s company, Sevirg AgroAllied Mills Ltd.
Kalu pleaded “not guilty” to the charges, leading to his trial. During the trial, six witnesses, including two colleagues from NEXIM Bank, testified against him.
On February 12, 2025, Justice Oshodi ruled that the prosecution had proven its case beyond a reasonable doubt, convicting Kalu on four counts. He was sentenced to four years and two months in prison or a fine of N20,850,000.
EFCC
