The Economic and Financial Crimes Commission (EFCC) has prosecuted Ntai Bagshaw and Terraworks Limited for allegedly defrauding Muyiwa Makinde of N70 million.
Justice I.O. Ijelu of the Lagos High Court presided over the arraignment on May 8, 2025.
According to the charges, Bagshaw and his company deceived Makinde into paying for a nonexistent duplex in Ogudu GRA in December 2021. The EFCC accused them of knowingly making false claims to secure the funds.
During the court session, prosecutors detailed how the defendants dishonestly converted the money for personal use. However, Bagshaw pleaded not guilty when the charges were read aloud. The prosecution promptly requested a trial date and sought his remand in custody.
Consequently, Justice Ijelu adjourned the case to May 13 for a bail hearing and trial commencement. Meanwhile, the court ordered Bagshaw’s temporary detention at a correctional facility.
This case underscores EFCC’s ongoing efforts to combat financial crimes across Nigeria. The agency reaffirmed its commitment to prosecuting fraud cases and protecting citizens from exploitation.
For further updates on this case and other EFCC activities, follow @officialEFCC on X (formerly Twitter). The commission encourages the public to report suspicious financial transactions through its verified channels.
Authorities continue investigating similar fraud schemes nationwide, urging vigilance in property transactions. Justice Ijelu’s court will reconvene next week to determine the defendant’s bail status and proceed with the trial.
The EFCC maintains that this prosecution serves as a deterrent to potential fraudsters targeting innocent Nigerians. Legal experts anticipate a swift trial given the documented evidence presented by investigators.
As the case unfolds, stakeholders await justice for the victim and stricter enforcement against white-collar crimes. The commission remains steadfast in its pursuit of accountability within Nigeria’s financial sector.
This development highlights the judiciary’s role in addressing economic crimes while safeguarding public trust. Observers note the case’s potential to strengthen anti-fraud measures in real estate transactions nationwide.
With corruption cases rising, the EFCC continues collaborating with other agencies to curb illicit financial activities. The upcoming court proceedings will test the effectiveness of Nigeria’s legal framework against sophisticated fraud schemes.
Citizens are advised to verify property deals through official channels to avoid falling victim to scams. The commission reiterates its zero-tolerance policy toward financial crimes as this high-profile case progresses.
Post Views: 4
