A banker, Ugenyi Kalu, was convicted by Justice R.A. Oshodi of a Special Offences Court in Ikeja, Lagos, on February 12, 2025, for his involvement in a fraudulent scheme.
The convict, who was the head of the Lagos Region of NEXIM Bank, was charged with official corruption and gratification by the Lagos Zonal Directorate of the Economic and Financial Crimes Commission (EFCC).
Kalu was arraigned on a five-count charge related to receiving illegal monetary benefits.
One of the counts stated that in November 2016, Kalu received a sum of N4,000,000 from Obi Ogoh, a beneficiary of a loan extended to Ogoh’s company, Sevirg AgroAllied Mills Ltd, by NEXIM Bank. This act violated the Corrupt Practices and Other Related Offences Act, 2000.
Despite pleading “not guilty” to the charges, the prosecution, led by G.C. Ofulue, presented compelling evidence against Kalu, calling six witnesses, including two co-workers from NEXIM Bank.
Their testimonies strengthened the case against the banker, proving his involvement in the crime.
Justice Oshodi, in his ruling, affirmed that the prosecution had proven its case beyond a reasonable doubt, convicting Kalu on four of the five charges.
He was sentenced to four years and two months in prison or a fine of N20,850,000 (Twenty Million, Eight Hundred Fifty Thousand Naira).
The case highlights the ongoing efforts of the EFCC to clamp down on corruption in the banking sector and the judiciary’s commitment to holding public office holders accountable for their actions.
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