The Benin Zonal Directorate of the Economic and Financial Crimes Commission on Tuesday February 17, 2026, arraigned two suspected fraudsters, Kelvin Usiholo and Osaigbovo Aikoriogie before Justice B. O. Quadri of the Federal High Court sitting in Benin City.
The duo and others now at large were arraigned on a three -count charge of obtaining the sum of N143 million under false pretence.
Kelvin Usiholo, acting as a lawful attorney for Eghosa Aikorogie had through a firm of legal practitioners petitioned the Commission alleging that Osaigbovo Aikorogie defrauded Eghosa Aikorogie of large sums of money in a business transaction.
However, during investigation by the Commission, it was discovered that the source of the fund was fraudulent and that both the complainant and the suspect were part of a syndicate who specialise in defrauding innocent people including foreigners of their hard earned money.
Upon conclusion of investigations, both were arraigned on a three count charge of money laundering and obtaining by false pretence.
Count one of the charges reads:
“That you KELVIN USIHOLO, OSAIGBOVO AIKORIOGIE, EGHOSA AIKOROGHIE (AT LARGE), JUNIOR IGBINOVIA (AT LARGE), BOBBY OSARETIN (AT LARGE) AND OTHERS (AT LARGE) sometime in 2024 within the jurisdiction of this Honourable court did conspire among yourselves to commit an offence to wit Money Laundering and thereby committed an offence contrary to Section 21(a) of the Money Laundering (Prevention and Prohibition) Act 2022 and punishable under section 18(3) of the same Act.”
Count two reads:
“That you KELVIN USIHOLO, OSAGBOVO AIKORIOGIE AND OTHERS (AT LARGE) sometime between April and May 2024 within the jurisdiction of this Honourable court did indirectly take possession or control of the aggregate sum of N143,000,000: 00 (One Hundred and Forty-three Million Naira) transferred into Account No: 3088191477 domiciled in First Bank Plc operated by you which funds you knew or reasonably ought to have known forms part of proceeds of unlawful acts and thereby committed an offence contrary to Section 18(2) (d) of the Money Laundering (Prevention and Prohibition) Act, 2022 (as Amended) and punishable under Section 18(3) of the same Act.”
The defendants pleaded not guilty to the charge when it was read to them prompting the prosecution counsel, Immaculate Elodi to pray the court to fix a date for trial.
Justice Quadri adjourned the matter to February 27 for hearing of the bail application.