EFCC arraigns popular church elder and wife for alleged N500m fraud

The Economic and Financial Crimes Commission (EFCC) has brought charges against Mrs. Ugochi Dike, a former senior banker with Polaris Bank, and her husband, Architect Emmanuel Dike, a prominent elder of the Seventh Day Adventist Church. The couple appeared before a federal high court in Port Harcourt.

Mrs. Ugochi Dike is accused of defrauding Clip Nigeria Ltd, a company, of 500 million under the pretense of investing in contract execution with NNPC, SPDC, and other IOCs, with explicit terms of return of investments to Clip Nigeria Ltd. The company, realizing they had been defrauded after a period of no returns, sought a refund of the principal money from Mrs. Ugochi Dike.

Unable to refund the money, Mrs. Dike claimed that her husband, Architect Emmanuel Dike, invested the funds in his Cryptocurrency trading business. The couple faces a 5-count charge, including conspiracy and obtaining money by false pretenses.

The court, with suit number FHC/PH/458C/23 FRN vs UGOCHI EZIAKU DIKE & ORS, granted bail to the accused in the sum of N 1 million each. The conditions include ensuring the surety is a grade level 12 civil servant in Rivers state, presenting a letter of employment and certificate of occupancy, residing within the court’s jurisdiction, and producing passport photographs.

The court set the trial date for January 30, 2024, and remanded the accused persons in the Port Harcourt Correctional Centre until they meet the bail conditions.