A Lagos State Special Offences Court sitting in Ikeja has adjourned judgment in the N960m, investment fraud case involving Edu Hub Consults Limited and its Managing Director, Mma Anyanso, to November 21, 2025.

Justice Mojisola Dada on Wednesday fixed the date after she was informed of a plea bargain entered by the defendant.

Anyanso is standing trial on an amended charge of stealing and obtaining money under false pretence. The Economic and Financial Crimes Commission accused him and his company of diverting investors’ funds meant for legitimate business purposes to personal use.

The amended charge, dated August 21 2025,and filed on September 29, 2025, alleged that between July 18 and September 14, 2020, Edu Hub Consults Limited dishonestly converted N960 m, belonging to investors under the guise of a profitable investment scheme.

The alleged offences contravene Section 278(1)(b)(ii) of the Criminal Law of Lagos State, 2011.

The EFCC further claimed that the defendants used part of the funds to acquire luxury properties, including an apartment at Eko Atlantic City, Lagos.

An EFCC operative, Chinedu Peters, attached to the Commission’s Cybercrime Section, testified that the agency received credible intelligence in 2020 about suspicious investment activities operating from Eko Atlantic City, Victoria Island.

Acting on this information, investigators visited the location and arrested several suspects, including Anyanso.

Peters told the court that the defendant voluntarily admitted being the Managing Director of Edu Hub Consults Limited and, The Map Online Limited, both of which collected money from members of the public under the pretext of investment opportunities.

He added that a letter sent to the Securities and Exchange Commission confirmed that neither company was licensed to receive or manage investment funds from the public.

Investigations, according to him, revealed that Edu Hub Consults Limited and, The Map Online Limited received various sums from over 2,300 investors, promising high returns based on the investment category.

The EFCC operative said the scheme collapsed after a few months of payouts, and the funds were diverted for personal use, including purchasing properties in Lagos and Abuja.

Peters also testified that while on administrative bail, the defendant made partial restitution to about 945 investors but still owed approximately N1.2 bn.

He added that Anyanso later wrote to the EFCC expressing willingness to enter into a plea bargain, in a letter dated September 29, 2025.

The prosecution urged the court to convict the defendant, insisting that the evidence established deliberate fraudulent conduct.

However, defence counsel, Dr. Suleiman Usman (SAN), pleaded for leniency, arguing that the defendant acted in good faith and had cooperated with investigators.

“The defendant believed the business was genuine,” Usman said.

“He has made substantial efforts to refund investors and surrendered properties to offset the outstanding balance.”

He urged the court to temper justice with mercy and consider a non-custodial sentence.

After listening to both counsel, Justice Dada adjourned the case until November 21, 2025, for judgment.

Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, on Wednesday, convicted and sentenced one Samuel Asiegbu to three years’ imprisonment without an option of fine for his role in an N8.56bn fraud carried out at Wema Bank Nigeria Plc.

Asiegbu was arraigned alongside Hamza Zakaria, Nurudeen Ibrahim, and Alhaji Sulaiman (now at large) on four counts bordering on conspiracy, stealing, and unauthorised access to a computer system, preferred against him by the Economic and Financial Crimes Commission.

The defendants were first arraigned on June 23, 2025, and had initially pleaded not guilty.

However, Asiegbu later changed his plea to guilty, leading to his conviction and sentencing, while the trial continues for the other defendants.

The EFCC told the court that Asiegbu, Hamza Zakaria, Nurudeen Ibrahim, Alhaji Sulaiman (at large), and others at large, sometime in January 2025, conspired amongst themselves without authorisation and accessed the computer systems of Wema Bank Nigeria Plc to steal money.

The prosecution counsel also told the court that the convicts, Hamza Zakaria, Nurudeen Ibrahim, Alhaji Sulaiman (at large), and others at large, sometime in January 2025, had unauthorised access to the Wema Bank computer and server with the intent to facilitate the stealing of an aggregate sum of N8,568,090,500 from accounts domiciled at Wema Bank Nigeria Plc.

According to the prosecution counsel, the offences committed contravened Sections 409 and 386 of the Criminal Law of Lagos State, 2011.

In his judgment, Justice Oshodi sentenced Asiegbu to 10 months and eight days’ imprisonment on count three and 1 year and 8 months on count four, both without an option of fine.

The judge held that the sentences are to run concurrently, bringing his total jail term to three years.

The court also struck out counts one and two.

Consequently, Justice Oshodi adjourned the case to November 14, 2025, for further trial of the remaining defendants.

Suspended Deputy Commissioner of Police, Abba Kyari, on Wednesday told the Federal High Court in Abuja that several properties linked to him by the National Drug Law Enforcement Agency belonged to his late father and were jointly owned by his 30 siblings.

Kyari, who opened his defence before Justice James Omotosho, said his late father left behind more than 20 houses in Maiduguri, Borno State.

He added that some of the properties were sold to fund his father’s medical bills before his death.

He maintained that he could not have declared the properties in his assets form since he had not received his portion.

Under cross-examination by NDLEA counsel, Sunday Joseph, Kyari said,

“My Lord, I cannot put my interest about the property in the form because the 20 houses belong to my father and not me. If I get my percentage of share, I can put it, but until when I get my own percentage. All the properties left behind by my father belong to all his children and we are about 30 in number.”

Kyari is facing 23 counts filed against hum by the NDLEA, which alleged that he and two co-defendants, Mohammed Kyari and Ali Kyari, failed to fully declare their assets, disguised ownership of properties and converted funds contrary to the law.

The charges, marked FHC/ABJ/CR/408/2022, allegedly contravene Section 35(3)(a) of the NDLEA Act and Section 15(3)(a) of the Money Laundering (Prohibition) Act, 2011. The prosecution has so far called 10 witnesses and tendered 20 exhibits before closing its case.

The defendants had filed a no-case submission, but the court dismissed it on October 28, ruling that a prima facie case had been established.

Justice Omotosho noted that the ruling did not imply guilt but allowed the defendants to enter their defence, stressing that they remain presumed innocent until proven otherwise.

Meanwhile, Kyari argued that the NDLEA failed to prove ownership of the properties tied to him, citing Section 128 of the Evidence Act, which he said requires certified true copies of title documents to prove transactions over state lands.

“About four of the properties were sold then,” he noted.

Kyari, who holds a BSc in Geography and joined the Nigeria Police Force on May 1, 2000, said he was conversant with the asset-declaration process.

Asked whether he declared his interest in the inherited properties, he responded that he could not since the assets were collectively owned.

“I cannot include my father’s properties in my asset-declaration form because they belong to the entire family, not me. If I get my percentage share, I can declare it, but not before then,” he said.

He added that proceeds from some sales were distributed among relatives in need.

Kyari also admitted that he initially declined to complete the asset-declaration form when invited by NDLEA operatives, insisting that his lawyers must be present.

“Yes, I said I would not make a statement until my lawyers were around,” he said, adding that one officer informed him that refusal to fill the form was a criminal offence.

Kyari further testified that the millions of naira traced to his bank accounts came from operational funds released by the police and some governors for security operations.

He said that as former Commander of the Anti-Robbery Squad and later head of the Intelligence Response Team, he supervised over 1,000 operations, with funds often routed through his account for disbursement.

When asked why funds channelled through the Central Bank of Nigeria were sent to his relatives, Kyari said the money was used to repay loans he obtained from them to fund urgent operations due to bureaucratic delays in official releases.

Justice Omotosho noted that whether family properties should be declared would be addressed in the parties’ final written addresses.

The NDLEA tendered several bank documents, which Kyari confirmed bore his name. The prosecution then sought an adjournment to obtain additional documents for further cross-examination.

Justice Omotosho adjourned the matter until November 12 for continuation of the hearing.

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