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The Economic and Financial Crimes Commission has secured the conviction of a former banker, Ugenyi Kalu, who was sentenced to four years and two months’ imprisonment for fraud by Justice R.A. Oshodi of the Special Offences Court sitting in Ikeja, Lagos.
A statement released on Tuesday by the EFCC via Facebook noted that Kalu, who previously served as the Head of the Lagos Region at NEXIM Bank, was arraigned by the EFCC’s Lagos Zonal Directorate on a five-count charge bordering on official corruption and gratification.
One of the charges stated:
“That you, Ugenyi Kalu, sometime in November 2016, in Lagos within the Lagos Judicial Division, being the Head of the Lagos Region of NEXIM Bank, received a monetary benefit for yourself in the sum of N4,000,000 (Four Million Naira) from one Obi Ogoh on account of the loan availed to his company, Sevirg Agro-Allied Mills Ltd, by NEXIM Bank, thereby committing an offence bordering on official corruption, contrary to Section 8(1)(a) of the Corrupt Practices and Other Related Offences Act, 2000, and punishable under Section 8(1)(b)ii of the same law.”
The banker pleaded “not guilty” to all charges, prompting a trial in which the prosecution, led by EFCC counsel G.C. Ofulue, called six witnesses, including two of Kalu’s former colleagues at NEXIM Bank, to testify against him.
Delivering judgment on 12 February 2025, Justice Oshodi ruled that the prosecution had proven its case beyond reasonable doubt and found Kalu guilty on four of the five charges.
He was sentenced to four years and two months in prison or given the option to pay a fine of N20,850,000.
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