The Economic and Financial Crimes Commission (EFCC), Benin Zonal Directorate, on Tuesday, February 17, 2026, arraigned two suspected fraudsters, Kelvin Usiholo and Osaigbovo Aikoriogie, before the Federal High Court sitting in Benin City.
The defendants were brought before Justice B. O. Quadri on a three-count charge bordering on obtaining the sum of N143 million under false pretence and money laundering. Others listed in the charge, including Eghosa Aikorogie, Junior Igbinovia and Bobby Osaretin, are said to be at large.
According to the EFCC, the case began after Usiholo, acting as a lawful attorney for Eghosa Aikorogie, petitioned the commission through a firm of legal practitioners, alleging that Osaigbovo Aikorogie had defrauded Eghosa in a business transaction involving large sums of money.
However, investigations by the anti-graft agency reportedly revealed that the funds in question were proceeds of fraudulent activities. The EFCC said both the complainant and the suspect were members of a syndicate allegedly involved in defrauding unsuspecting victims, including foreigners.
Following the conclusion of investigations, the commission arraigned the suspects on a three-count charge of money laundering and obtaining by false pretence.
One of the charges states that the defendants and others at large allegedly conspired in 2024 within the court’s jurisdiction to commit money laundering, contrary to provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
Another count alleges that between April and May 2024, the defendants took possession or control of N143 million transferred into a First Bank Plc account operated by them, funds they allegedly knew or ought to have known were proceeds of unlawful acts.
The defendants pleaded not guilty when the charges were read to them. Following the plea, prosecution counsel, Immaculate Elodi, asked the court to fix a date for trial.
Justice Quadri subsequently adjourned the case to February 27, 2026, for the hearing of the defendants’ bail application.
