Business

How Enugu Auto Dealer Chukwuebuka Ogbonna Allegedly Pocketed ₦15.4m Meant for Importation

Published

3 months ago

July 9, 2026

The Enugu Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has arraigned Chukwuebuka Anacletus Ogbonna before Justice Vincent C. Ezeugwu of the Enugu State High Court, sitting in Independence Layout, Enugu. Ogbonna, who operates under the name and style of Monpere’s Autos, faces a four-count charge bordering on stealing by conversion to the tune of ₦15,400,000.

The trouble began for the auto dealer following a petition from a buyer who claimed he paid Ogbonna the ₦15.4 million in October 2023 to assist him in importing three cars. Upon receiving the substantial sum, the defendant promised to deliver the vehicles on or before Christmas Day, December 25, 2023. However, instead of delivering the cars or returning the money, Ogbonna allegedly converted the funds to his personal use, leaving the buyer stranded.

The court charges detailed how the money was systematically diverted. Count one states that in September 2023, within the jurisdiction of the High Court of Enugu State, Ogbonna fraudulently converted ₦4,000,000 belonging to Mr. Paulson Nwakoby, which was meant for the vehicle purchase. Count two details another ₦4,000,000 fraudulently converted between November 28 and December 10, 2023. These actions violate Section 342 of the Criminal Code Law, Cap 30, Enugu State, and are punishable under Section 353 (1) of the same law.

Appearing in court, the defendant pleaded “not guilty” to all charges read to him. In view of the plea, EFCC counsel and Assistant Commander of the EFCC, ACE II Rotimi Ajobiewe, prayed the court for a definitive trial date and requested that the defendant be remanded in the custody of the Nigerian Correctional Service (NCoS) in Enugu. Justice Ezeugwu subsequently adjourned the matter to July 16, 2026, for the hearing of the bail application and ordered that Ogbonna be remanded at the EFCC’s holding facility in the interim.

The post How Enugu Auto Dealer Chukwuebuka Ogbonna Allegedly Pocketed ₦15.4m Meant for Importation appeared first on Business Today NG.

Related Topics:15.4m allegedly Auto Chukwuebuka Dealer Enugu importation Meant Ogbonna Pocketed

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Business

The Extra Mile: PenCom marks 2026 Customer Service Week

Published

4 hours ago

October 6, 2026

PlateauReports

BY NKECHI NAECHE-ESEZOBOR—The National Pension Commission (PenCom) has joined in the celebration of Customer Service Week, aimed at celebrating retirees and workers in the country.

According to PenCom, day one of the week kicked off on a high note as staff celebrated their colleagues, customers and the commitment to going “the extra mile” in delivering exceptional customer experience.

From engaging conversations and interactive sessions to team spirit, smiles and celebrations, the opening day set the tone for a week focused on putting the customer at the heart of the Commission’s work.

This year, the Commission is reminded that great customer service is not just about meeting expectations; it is about exceeding them, creating value and making every interaction count.

The highlight of the event was the cutting of the cake by the Director-General of PenCom, Ms. Omolola Bridget Oloworaran, and her management team.

The post The Extra Mile: PenCom marks 2026 Customer Service Week appeared first on Business Today NG.

Business

Zenith, Fidson, NEM top stock pick this week

Published

12 hours ago

October 5, 2026

PlateauReports

Nigerian stocks slightly depreciated last week, sliding by 0.5 per cent as sell pressure on bank equities weighed on the main stock index.

All but the insurance index dropped out of the five sector indexes tracked by the Nigerian Exchange.

“Investor positioning ahead of Q3:2026 earnings should provide additional support, particularly as expectations build around the Tier-1 banks’ results,” analysts at Meristem Securities said in a note to investors ahead of the week.

“The ongoing impact of Nigeria’s FTSE Russell reclassification should also keep trading activity elevated and sustain interest in eligible large-cap stocks,” they added.

The release of companies’ Q3 earnings reports is expected to begin soon.

PREMIUM TIMES has assembled some stocks with sound fundamentals, adopting rigorous approaches to save you the risk of picking equities at random for investment.

The pick, a product of an analytical market watch, offers a guide to entering the market and taking strategic positions, with the expectation that selected stocks will record reasonable price appreciation with the passage of time.

This is not a buy, sell or hold recommendation but a stock investment guide. You may need to involve your financial advisor before taking investment decisions.

READ ALSO: DN Tyre & Rubber, Greif Nigeria delisted from Nigerian Exchange

Zenith Bank

Zenith tops this week’s list for its strong fundamentals and for trading below its intrinsic value. The net profit ratio (NPR) of the lender is 21.8, while the price-to-earnings (PE) ratio is 5.3x. Its 14-day relative strength index (RSI) is 68.

Fidson Healthcare

Fidson appears on the pick on the basis of its attractive fundamentals. The NPR of the pharmaceutical company is 7.8, while the PE ratio is 18.8x. The 14-day RSI is 51.2.

NEM Insurance

NEM makes the selection for its strong fundamentals and for trading below its intrinsic value. The insurer’s NPR is 15.7, while the PE ratio is 5.6x. Its 14-day RSI is 43.2.