The Economic and Financial Crimes Commission has arraigned a man, Isaac Saviour Emmanuel, before the Federal High Court in Warri, Delta State, over an alleged contract fraud involving N157 million and $4,000.
Emmanuel was brought before Justice H.A. Nganjiwa on Wednesday by the Port Harcourt Zonal Directorate of the anti-graft agency on a seven-count charge bordering on alleged fund diversion and contract scam.
According to the prosecution, the defendant reportedly received the money from Nathaniel Russel Okpenyi, Managing Director of Ursyfin Integrated Services Limited, under the pretext of facilitating the award of contracts from some agencies. Part of the funds was said to have been paid into Emmanuel’s bank account between June 2023 and May 2024.
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Investigations by the commission revealed that the suspect allegedly issued what were later discovered to be fake contract award letters to the petitioner after obtaining the money. Emmanuel pleaded not guilty to all charges when they were read in court.
Following his plea, prosecution counsel, M. Abubakar, asked the court to fix a trial date and remand the defendant in custody pending further proceedings. Defence counsel, F.E. Tobuye, however, did not submit a formal bail application.
Justice Nganjiwa ordered that the defendant be remanded in a correctional facility and adjourned the case until May 19, 2026, for the hearing of the bail application.
