_● EFCC says funds moved through ABICO Plc to BDC account in Providus Bank_
The Economic and Financial Crimes Commission (EFCC) on Monday, June 29, 2026, called its third prosecution witness in the trial of Ifoma Immanuel and his company, Intermediate Investment Holdings Limited, over an alleged $1.5 million fraud.
The witness, Levi Amanda Opice, a Compliance Officer with Guaranty Trust Bank (GTBank), testified before Justice Mojisola Dada of the Lagos State Special Offences Court, Ikeja.
—The Charges—
![](https://www.theconclaveng.com/wp-content/uploads/2026/09/Hartland.png")
Immanuel and his company are facing a two-count charge of obtaining money by false pretence and forgery. They pleaded not guilty when arraigned on March 11, 2026.
The EFCC alleges that Immanuel induced Adebisi Adebutu of R28 Holdings Limited to invest $1.5 million, claiming it would finance projects linked to Chappal Petroleum Development Company Limited, Intermediate Investment Holdings Limited, and Chappal Energies Mauritius Limited.
The Commission said the investment was backed by promises of reimbursement, a $2.25 million development capital fee, and a 22.4 per cent equity stake in Intermediate Investment Holdings Limited.
—Bank Testimony—
Led in evidence by EFCC counsel E. E. Iheanacho, SAN, alongside Babatunde Sonoiki, Opice said ABICO Plc, operated by Adebutu, transferred a total of N305 million in one day to an account belonging to 107 Global Limited at Providus Bank.
According to the witness, the funds moved in four tranches: three transfers of N100 million each, and one of N5 million. He told the court that the Providus Bank account was operated by a Bureau De Change operator who allegedly handed the funds to the defendants.
Opice also said GTBank received an EFCC letter dated May 30, 2025, requesting ABICO Plc’s statement of account and account opening documents. He said the bank responded on October 16, 2025. The reply and account opening package were tendered and admitted as exhibits.
—Earlier Proceedings—
The prosecution also recalled its second witness, Paul Olufemi, a Compliance Officer with Providus Bank, to conclude his testimony. Several banking documents were tendered through him.
Defence counsel objected to their admissibility, arguing there was no proof of payment. Justice Dada overruled the objection and admitted the exhibits, which included the EFCC’s request to Providus Bank, the bank’s response, and attachments.
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The judge adjourned the case to June 30, 2026, for continuation of trial.
[Rewritten story culled from The Shield Online]
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