EFCC kicks off N458m fraud trial, presents bank official as first witness in Court
Abdullateef Fowewe
The Economic and Financial Crimes Commission (EFCC) has begun its case against Ibrahim Habib Ibrahim on Tuesday, presenting Emmanuel Adeyemi, Head of Fraud Prevention and Investigation at Unity Bank, as the first prosecution witness (PW1) before Justice Alexander Owoeye at the Federal High Court in Ikoyi, Lagos.
Ibrahim according to a statement EFCC on Tuesday faces a two-count charge of money laundering involving N458,396,967.50, to which he pleaded not guilty.
Prosecution counsel S.I. Suleiman opened the trial by calling Adeyemi to the stand.
Adeyemi detailed how Unity Bank’s database was compromised on December 24 and 25, 2021, leading to fraudulent transfers of about N458 million from nine customer accounts to various banks.
“The bank’s database was compromised on December 24 and 25, 2021, thereby resulting in the fraudulent transfer of about N458 million,” he testified.
He added that bank management petitioned the EFCC for help in investigating the fraud.
The witness confirmed the petition’s authenticity, signed by Chief Audit Executive Olusegun Famoriyo and then-Executive Director Ebenezer Kolawole (now Managing Director).
“Famoriyo is currently in Canada on holiday, while Kolawole is away from Lagos on an official assignment,” Adeyemi noted.
Suleiman tendered the petition and documents, which the court admitted. Justice Owoeye adjourned the matter to May 20, 2026, for continuation.
