A former banker, Ugenyi Kalu, has been sentenced to four years in prison for official corruption by Justice R.A. Oshodi of the Special Offences Court sitting in Ikeja, Lagos.
The conviction was secured by the Lagos Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) following a trial that exposed Kalu’s involvement in corrupt practices during his tenure as the head of the Lagos Region of NEXIM Bank.
Kalu was arraigned on a five-count charge bordering on official corruption and gratification. One of the counts revealed that he received a monetary benefit of N4,000,000 (Four Million Naira) from Obi Ogoh, a beneficiary of a loan granted to Sevirg AgroAllied Mills by NEXIM Bank.
The charge stated: “That you, Ugenyi Kalu, sometime in November 2016 in Lagos within the Lagos Judicial Division, being the head of Lagos Region of NEXIM Bank, received monetary benefit for yourself in the sum of N4,000,000 (Four Million Naira) from one Obi Ogoh on account of the loan availed to his company Sevirg AgroAllied Mills Ltd by NEXIM Bank. Thereby committed an offence bordering on official corruption contrary to Section 8(1)(a) of the Corrupt Practices and Other Related Offences Act, 2000 and punishable under Section 8(1)(b)ii of the same Law.”
Kalu pleaded not guilty to all charges, prompting a full trial. During the proceedings, the prosecution counsel, G.C. Ofulue, presented six witnesses, including two of Kalu’s former colleagues at NEXIM Bank, who testified against him.
In his judgment, Oshodi held that the prosecution had proven its case beyond reasonable doubt. Kalu was convicted on four of the five charges and sentenced to four years and two months imprisonment.
Alternatively, he was given the option to pay a fine of N20,850,000 (Twenty Million, Eight Hundred Fifty Thousand Naira).
The EFCC has reaffirmed its commitment to pursuing justice in financial crimes and ensuring that perpetrators face the full weight of the law.
