Abuja Publisher arraigned in Lagos over alleged N170m fraud

By Akin Kuponiyi

The Managing Director of Abuja-based newspaper Parliament Communication Network Limited, Mr. Gowon Usman Egbunu, and his company were on Wednesday arraigned before the Federal High Court, Ikoyi, Lagos, over an alleged N170 million fraud.

Egbunu and the company were brought before the court on a six-count amended charge filed by police prosecuting counsel, Chukwu Agwu, bordering on alleged obtaining by false pretences, fraudulent diversion of funds, money laundering, forgery and uttering of forged documents.

According to the prosecution, the defendants allegedly obtained N170 million from KingNazzy Global Limited in 2021 under the pretext of providing three hectares of land for development in the Federal Capital Territory (FCT), Abuja.

The complainant company was represented by its Managing Director, Kamar Adeyemi.

During the arraignment, Egbunu and his company pleaded not guilty to the six counts. The court also entered a not guilty plea on behalf of the company.

Counsel to the defendants informed the court that an application for bail had already been filed, noting that his client had spent 88 days in police detention at the Special Fraud Unit (SFU), Milverton Road, Ikoyi, Lagos.

However, the prosecuting counsel opposed the bail request, arguing that the defendant had previously jumped police bail for two years and was only re-arrested after investigators tracked him through his phone.

After hearing submissions from both parties, the presiding judge, Justice Musa Kakaki, ordered that the defendant be remanded at the Ikoyi Correctional Centre pending the determination of the bail application.

Justice Kakaki subsequently adjourned the matter to March 19, 2026, for hearing of the defendant’s bail application.

One of the amended charges alleged that Egbunu, as Managing Director of Parliament Communication Network Limited, conspired with others still at large in Lagos and Abuja in 2021 to fraudulently obtain not less than N170 million through various bank accounts, contrary to Section 8(a) and (c) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.