EFCC Arraigns FCMB Sales Agent Director For Defrauding Customer 1,000,000

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The Economic and Financial Crimes Commission, EFCC, Sokoto Zonal Office, has arraigned a banker (FCMB), Ezeagbor Chijioke and two others: Anthony Chidiebere Nneji and Ibenegbu Chukwudi Francis before Justice Muhammad Muhammad of the Sokoto State High Court on four – count charges bordering on conspiracy, forgery and obtaining money by false pretences to the tune of N1,000,000.00 (One Million Naira only).

Trouble for the trio started, when the Commission received intelligence against them for alleged conspiracy to defraud one Olajide Adeshina Muhammad Misbahudeen, to the tune of N1,000,000.00 (One Million Naira only) under the guise of investing same in Central Bank of Nigeria Treasury Bills, which they allegedly forged and issued him a fake Certificate.

EFCC Arraigns FCMB Sales Agent Director For Defrauding Customer 1,000,000
Banker, Two Others In Sokoto Arraigned | www.brandspurng.com

Count one read:

“That you Ezeagbor Chijioke while being the Direct Sales Agent of First City Monument Bank Plc (FCMB), Anthony Chidiebere Nneji and Ibenegbu Chukwudi Francis of the C.S Paper works business centre, on or about the 20th day of February 2020 at Sokoto, within the jurisdiction of this honourable court, with intent to defraud falsely obtained the total sum of N1,000,000.00 (One Million Naira) from one Olajide Adeshina Muhammad Misbahudeen under the guise of investing the money in Central Bank of Nigeria Treasury Bills which you knew to be false and thereby committed an offence contrary to Section 1(1)(a) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under Section 1(3) of the same Act.”

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They pleaded not guilty to the charges when they were read to them.

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In view of their pleas, prosecution counsel, S. H Sa’ad asked for a date for commencement of trial and for the defendants to be remanded in the custody of Correctional Services, Sokoto.

Responding, counsel to the first defendant, Y. Y Gwazawa prayed for a short time to file the bail application of his client. Counsels for the 2nd and 3rd defendants made same prayers.

Justice Muhammad adjourned the case to September 24, 2020, for trial and ordered that the defendants be remanded in a Correctional Center pending the hearing and determination of their bail.

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EFCC Arraigns FCMB Sales Agent Director For Defrauding Customer 1,000,000 - Brand SpurEFCC Arraigns FCMB Sales Agent Director For Defrauding Customer 1,000,000 - Brand Spur

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EFCC Arraigns FCMB Sales Agent Director For Defrauding Customer 1,000,000 - Brand SpurEFCC Arraigns FCMB Sales Agent Director For Defrauding Customer 1,000,000 - Brand Spur

Latest News

Vivocom’s Group Game Changer – Multi-Billion Sand Project Secured

  • Initial contract worth RM3.79 billion for three years
  • Aspires to be a major industry player 'with exponential growth prospects'


KUALA LUMPUR, MALAYSIA - Media OutReach - 26 February 2021 - In a filing to Bursa Malaysia this evening, Vivocom Intl Holdings Berhad ('Vivocom') announced that V Development Group via one of its subsidiaries has secured a 'massive win' worth approximately USD934.7 million or the equivalent of RM3.79 billion.

Rain International Sdn Bhd ('Rain International') is a 97% owned subsidiary under the V Development Group which was recently merged into the Vivocom Group. The Company's proposed acquisition of V Development Group had been recently approved by the relevant authorities.

Rain International is principally involved in the mineral trading and exportation business, supplying sand to its client mainly in Hong Kong and China for reclamation and construction works. The Company had recently signed a contract for the supply of marine sand for a minimum period of three years.

The contract is for the supply of sand to Zhen Hua Engineering Company Ltd-China Communications Construction Company Ltd-CCCC Dredging (Group) Company Ltd. (ZHEC-CCCC-CDC), a Joint Venture contractor appointed to undertake the main reclamation works for the Hong Kong International Airport Three Runway System Project.

Director Mr William Chan Ching-Kee said: "As the appointed agent for the ZHECC-CCCC-CDC Joint Venture, we are looking forward to the exportation of sand from Malaysia to our client in Hong Kong to commence without any further delay."

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Dato Seri Chia is optimistic that the contract would be extended for another two to three years and could potentially generate revenue of up to RM6 billion.

"The sand business is a major boost because it gives us tremendous visibility. The potential revenue is huge, recurring and highly scalable," its jubilant CEO, Dato Seri Chia Kok Teong exclaimed.

"The potential for explosive growth in the sand business is real and tangible, and bodes well for the Group in the next few years."

"We are starting with 3 years but the contract can easily be increased to 5 years and beyond, with higher tonnage shipped every 6 months. The exportation of sand will increase sharply over time," he added.

Besides the reclamation works for the Hong Kong International Airport, the rapid pace of construction and reclamation works in China and Singapore also requires heavy demand for sand, which is a considerable boon to Malaysia.

"The market for sand export is extremely humongous and will fuel the Group's rapid growth for the next several years. The RM3.79 billion Win is the first of many more to come."

"I have in fact urged my team to secure up to RM10 billion worth of sand contracts by the end of 2021. This is part of our overall transformation strategy to become a multi billions conglomerate," declared Dato Seri Chia.

"It is our core strategy to strengthen and diversify the Group's revenues generation capabilities and capacities and not be too narrowly focussed."

"Presently, we are already in negotiations for another RM2 to RM3 billion sand contract. Once finalised, we will make the relevant announcement as per Bursa Malaysia's requirements," Dato Seri Chia elaborated.

The sand would be procured from an approved permit holder to export sand overseas, and sourced from concession areas in Sandakan and Sungai Beluran in Sabah and throughout Malaysia.

"Even with this massive sand contract already secured, we will not be complacent. I have earlier promised to transform Vivocom into a behemoth Conglomerate and I will work non-stop to deliver on the promise," Dato Seri assured.

Since Dato Seri Chia's entry into Vivocom in January 2020 when its price was at 15 cents, the share has climbed sharply and last closed at RM1.06 on Thursday, 25th February 2021.

"I am very optimistic that Vivocom shares will continue to grow strongly and be worth a lot more than presently over time. I'm proud to say that we are no longer a penny stock," he reflected.

"My team is totally committed to building Vivocom into a reputable and profitable public company, one with solid fundamentals, sustainable profits and healthy cashflows."

"As a priority, we will work towards getting the Group elevated to the Main Board of Bursa Malaysia and be a dividends-paying company soonest possible," quipped Dato Seri.

To show his commitment, Dato Seri Chia has undertaken a voluntary self--imposed moratorium (or SIM) in that he will not dispose his personal stakes in Vivocom for the next 3 years. This will ensure the company's long-term price stability and sustainability.

"We want a stable and strong share price so that the Company can use its shares with its high liquidity as a currency for M&A activities to fund and fast-track expansion and growth," he explained.

"A strong share with high liquidity is a most valuable and prized asset. We will use it to buy Companies with game-changing and disruptive strategies. To look for the Next Big Thing."

"The enormous followings in the Company are what is driving in tremendous liquidity and momentum giving our share price added impetus," Dato Seri proudly asserts.

"We aspire to emulate Berkshire Hathaway strategy started over 40 years ago by Mr Warren Buffet. Mr Masayoshi Son built SoftBank Group of Japan along the same philosophy and Alphabet in US adopted similar strategies."

"These three companies are presently amongst the most valuable and admired companies in the world. I have the same dream for Vivocom. I am determined to leave behind an enduring legacy for all our valued shareholders," concluded Dato Seri Chia.

EFCC Arraigns FCMB Sales Agent Director For Defrauding Customer 1,000,000 - Brand Spur
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