RismadarVoice Reporters
October 22, 2026
The Economic and Financial Crimes Commission (EFCC) has presented its first prosecution witness in the trial of Joseph Igbeka, who is facing charges of obtaining money by false pretence and stealing in connection with an alleged $200,000 financial transaction.
The witness, Arnold Mozia, testified on Monday, October 19, before Justice Mojisola Dada of the Lagos State High Court sitting in Ikeja.
Igbeka was arraigned by the EFCC’s Lagos Zonal Directorate 2 on June 17, 2026, on a four-count charge relating to alleged fraudulent transactions involving the complainant.
The defendant pleaded not guilty to the charges.
According to the prosecution, Igbeka allegedly obtained funds from Mozia under the pretence of facilitating financial transactions, including an investment in foreign exchange trading.
One of the charges alleges that the defendant obtained ₦274.14 million, described as the naira equivalent of $180,000, on September 9, 2025.
The commission also accused him of stealing the same amount, allegedly belonging to the complainant.
During the proceedings, Mozia told the court that his dealings with Igbeka began with an earlier transaction involving $20,000 in February 2025.
Led in evidence by prosecution counsel Ebareotu Pereagbe, the witness alleged that Igbeka provided three bank accounts into which he was instructed to transfer a total of ₦29.94 million.
Mozia identified the accounts as belonging to Saint_OTS Limited, Owolabi Temitayo Samuel and Olagoke Hammed.
He testified that he transferred ₦10 million to Saint_OTS Limited through Providus Bank, ₦12 million to Samuel through Access Bank and ₦7.94 million to Hammed through PalmPay.
The witness said the payments were made from his Zenith Bank account in accordance with the defendant’s instructions.
Mozia further alleged that Igbeka approached him in September 2025 regarding an additional $180,000 transaction intended for investment in foreign exchange trading.
According to his testimony, the defendant supplied another set of bank account details for the transfer of ₦274.14 million.
The witness identified the beneficiaries as Saint_OTS Limited, Owolabi Temitayo Samuel and Oluzo Adeglo Bal Limited.
He told the court that he transferred ₦90 million to Saint_OTS Limited, ₦14.14 million to Samuel and ₦170 million to Oluzo Adeglo Bal Limited.
Mozia alleged that despite the transfers, Igbeka failed to return the investment capital, pay the promised profit or fulfil the financial obligations associated with the transactions.
The prosecution maintains that the alleged conduct constitutes offences under the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and the Criminal Law of Lagos State, 2015.
Following the witness’s testimony, Justice Dada adjourned the case until December 8, 2026, for continuation of the trial.
The allegations remain before the court, and Igbeka is presumed innocent unless proven guilty.
