A compliance officer with Guaranty Trust Bank (GTBank), Levi Amanda Opice, on Monday, June 29, 2026, testified before the Lagos State Special Offences Court in Ikeja in the ongoing trial of businessman Ifoma Immanuel over an alleged $1.5 million investment fraud.
Immanuel and his company, Intermediate Investment Holdings Limited, are facing a two-count charge bordering on obtaining money by false pretence and forgery.
The Economic and Financial Crimes Commission (EFCC), which is prosecuting the case, alleged that the defendant persuaded businessman Adebisi Adebutu and his company, R28 Holdings Limited, to invest $1.5 million in projects allegedly linked to Chappal Petroleum Development Company Limited, Intermediate Investment Holdings Limited and Chappal Energies Mauritius Limited.
According to the anti-graft agency, the investment was presented as a secured transaction with assurances that the funds would be repaid alongside a development capital fee of $2.25 million and a 22.4 per cent equity stake in Intermediate Investment Holdings Limited.
At the resumed hearing before Justice Mojisola Dada, the prosecution presented Opice as its third witness. Led in evidence by the prosecution counsel, E.E. Iheanacho (SAN), and Babatunde Sonoiki, the witness told the court that ABICO Plc transferred N305 million in one day to the account of 107 Global Limited domiciled in Providus Bank.
He stated that the money was paid in four separate tranches, comprising three transfers of N100 million each and an additional N5 million.
The witness explained that the transfers originated from ABICO Plc, which is operated by Adebutu, and were made into an account belonging to a Bureau De Change operator identified as 107 Global Limited. According to him, the operator subsequently released the funds to the defendants.
Opice also informed the court that GTBank received a letter from the EFCC dated May 30, 2025, requesting account opening documents and statements relating to ABICO Plc.
He said the bank responded to the request and submitted the required documents, including account opening records and statements of account. The documents, dated October 16, 2025, were tendered before the court and admitted as exhibits.
Earlier in the proceedings, the prosecution recalled its second witness, Paul Olufemi, a compliance officer with Providus Bank, to conclude his testimony.
Several banking documents were tendered through the witness, including correspondence between the EFCC and Providus Bank. Although defence counsel objected to the admissibility of the documents on the grounds that proof of payment was not established, Justice Dada dismissed the objection and admitted the exhibits.
Immanuel and his company were arraigned before the court on March 11, 2026, where they pleaded not guilty to the charges.
Justice Dada subsequently adjourned the matter until June 30, 2026, for the continuation of trial.



























