The Economic and Financial Crimes Commission (EFCC) has taken two people and a company to court over an alleged €49 million fraud.

Abel Egerton Sokari and Nkiruka Chukwuma, along with their company Zakah Global Investment Limited, were arraigned on Monday, July 7, 2025. The case was heard by Justice Mojisola Dada at the Special Offences Court in Ikeja, Lagos.

According to EFCC, they tried to get €49 million from First Bank using fake documents. They claimed that Bayan Investment Bank and Hedge Fund Statutory Trust had transferred the money into Zakah Global Investment’s account to trick the bank.

Part of the charge reads:

“That you, Abel Egerton Sokari, Nkiruka Chukwuma, Zakah Global Investment Limited… attempted to obtain Forty-Nine Million Euros (€49,000,000.00) from First Bank of Nigeria by falsely representing that Bayan Investment Bank and Hedge Fund Statutory Trust had transferred the money.”

They were also accused of having fake legal documents, including one allegedly from the law office of Steven H. Sado, who is linked to former U.S. President Donald Trump’s defence team.

Both pleaded not guilty. Their lawyers asked for bail under lenient conditions. Justice Dada granted them bail at N500,000 each, with one surety. They were released temporarily to their lawyers and given one month to perfect their bail. The trial will continue on October 29, 2025.

For more stories like this visit naijabeats.com