RismadarVoice Reporters, April 8, 2026.
The Court of Appeal has affirmed the conviction of Philemon Ibrahim Gora for fraud involving over ₦14 billion.
Gora was prosecuted by the Economic and Financial Crimes Commission (EFCC) on an 11-count charge bordering on obtaining money by false pretence and operating banking business without a licence from the Central Bank of Nigeria (CBN).
The EFCC, through its counsel Samuel Ugwuebulam, established that Gora, as a Ponzi scheme operator, defrauded more than 60,000 Nigerians of the huge sum.
He was convicted alongside his company, Cashflow Abi Network Limited, by the Federal High Court in Abuja, presided over by Justice Ijeoma Ojukwu, on December 10, 2024.
The appellate court, in its judgment, upheld the earlier decision of the trial court, reaffirming Gora’s conviction and the findings against him.
