Court Jails Banker for Receiving N4m Bribe in Lagos
The Economic and Financial Crimes Commission (EFCC) has secured the conviction of Ugenyi Kalu, a former banker, for fraud.
The Special Offences Court in Ikeja, Lagos, sentenced Kalu to four years and two months in prison for receiving a N4 million bribe. The ruling was delivered by Justice Rahman Oshodi on February 12, 2025.
Kalu, who previously served as the Head of the Lagos Region at the Nigerian Export-Import Bank (NEXIM), was found guilty of official corruption and gratification. He was convicted of accepting the bribe from Obi Ogoh in relation to a loan granted to Sevirg AgroAllied Mills Ltd by NEXIM Bank.
The EFCC charged Kalu with violating Section 8(1)(a) of the Corrupt Practices and Other Related Offences Act, 2000, which prohibits public officials from receiving gratification. Kalu initially pleaded not guilty to the five-count charge, leading to a full trial.
During the proceedings, the prosecution, led by EFCC’s G.C. Ofulue, presented six witnesses, including two of Kalu’s former colleagues at NEXIM Bank, who testified against him.
In his judgement, Justice Oshodi stated that the prosecution had proven the case beyond a reasonable doubt. “The evidence presented in court establishes beyond doubt that the defendant engaged in corrupt practices,” the judge stated.
In addition to his prison sentence, Kalu was given the option to pay a fine of N20.85 million in lieu of imprisonment.
