The Economic and Financial Crimes Commission has presented two witnesses in the trial of Ifoma Immanuel, who is facing allegations of obtaining $1.5 million by false pretence and forgery.

The witnesses, Babatunde Adebayo and Paul Olufemi, testified for the prosecution on Tuesday, June 23, and Wednesday, June 24, 2026, before Justice Mojisola Dada of the Lagos State Special Offences Court in Ikeja.

Immanuel is standing trial alongside his company, Intermediate Investment Holdings Limited.

The EFCC alleged that the defendant persuaded Adebisi Adebutu of R28 Holdings Limited to invest $1.5 million in projects said to be connected to Chappal Petroleum Development Company Limited, Intermediate Investment Holdings Limited and Chappal Energies Mauritius Limited.

According to the anti-graft agency, the investment arrangement included assurances that the funds would be repaid, alongside a development capital fee of $2.25 million and a 22.4 per cent equity interest in Intermediate Investment Holdings Limited.

After concluding its investigation, the EFCC’s Lagos Zonal Directorate 1 arraigned Immanuel and the company on March 11, 2026, on a two-count charge involving alleged false pretence and forgery.

At the resumed hearing on Tuesday, prosecution witness Adebayo, who testified under examination by the prosecution counsel, Babatunde Sonoiki, told the court that he facilitated the transfer of $500,000 to accounts nominated by Immanuel in the United States and Mauritius.

Adebayo, a financial adviser, said Immanuel approached him in 2022 for financial support, claiming he had secured an investor interested in financing a business venture.

The matter continues before Justice Dada.