NEXIM Bank Staff Jailed 4 Years Over N4m Bribe To Grant Loan To Allied Company 

MICHAEL AKINOLA 

The Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, Lagos State, has secured the conviction and sentencing of NEXIM Bank Staff, Ugenyi Kalu, to four years imprisonment over N4m bribe to secure loan for an allied company. 

P.M.EXPRESS reports that it was the judgment of Justice R.A. Oshodi of the  Special Offences Court, sitting in Ikeja, Lagos, who found Ugenyi Kalu guilty for fraud and sentenced him accordingly.

The convict, a banker, was arraigned on a five-count charge, bordering on official corruption and gratification.

One of the counts reads: “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.”

He pleaded “not guilty” to all the charges, prompting his trial.

In the course of the trial, the prosecution counsel, G.C. Ofulue, called six witnesses who testified to his crime, two of whom were his co-workers in Nexim Bank.

Delivering judgement on 12th February, 2025, Justice Oshodi held that the prosecution proved its case beyond every reasonable doubt, and found him guilty as charged.

He was convicted on four of the charges and sentenced to four years and two months imprisonment or to pay N20,850,000 (Twenty Million, Eight Hundred Fifty Thousand Naira) fine.

However, he was remanded in custody at the correctional center pending when he will fulfill the option of the fine or serve his prison term.