- Former Regional Head Of NEXIM Bank Faces Jail Time in Lagos for N4 Million Fraud, Ugenyi Kalu a former bank head was found guilty.
- The banker received a N4 million bribe for a loan.
- Justice Oshodi sentenced Kalu with a prison option.
Ugenyi Kalu, a banker, has been convicted by Justice R.A. Oshodi of a Special Offences Court in Ikeja, Lagos, for fraud.
The Lagos Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, arraigned the convict on a five-count charge, which bordered on official corruption and gratification.
According to the EFCC, Kalu, while serving as the head of the Lagos Region of NEXIM Bank in November 2016, received N4,000,000 from Obi Ogoh in connection with a loan availed to Ogoh’s company, Sevirg AgroAllied Mills Ltd, by NEXIM Bank.
This action was deemed an offence bordering on official corruption, contravening 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. Despite pleading not guilty, the prosecution presented evidence from six witnesses, including two of Kalu’s co-workers from Nexim Bank.
Justice Oshodi, delivering the judgment on February 12, 2025, stated that the prosecution had proven its case beyond a reasonable doubt, leading to Kalu’s conviction on four of the charges. Kalu was sentenced to four years and two months imprisonment or given the option to pay a fine of N20,850,000.
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