Nigeria's EFCC arraigns CEOs over alleged financial fraud

The Economic and Financial Crimes Commission (EFCC) arraigned Mahwash Benedict Luka, managing director of Bennicle Investment Nigeria Limited, before the Federal Capital Territory High Court in Abuja. Luka faces two counts of issuing N10 million cheques that were dishonoured for insufficient funds. He pleaded not guilty and was granted bail of N10 million with a surety, with the trial set for October 22, 2026.

In a separate case, the EFCC brought Ameh Kelechi Wilfred, chief executive of Panchovilla Enterprises Nigeria Limited, before the Enugu State High Court on three counts of fraud totaling N200 million related to a commercial property lease at Palms Shopping Mall. Wilfred also pleaded not guilty and was granted bail of N1 million, pending remand at the Nigerian Correctional Service and a trial scheduled for October 27, 2026.