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Obazee, Banker Recounts Ordeal in Hands of EFCC
Sunny Obazee, an investment banker faced for seven years, humiliation, rejection and prosecution for alleged N855 million fraud at defunct Platinum and Habib Bank (PHB) which he joined as Divisional Director Investment Banking in December 2007.
Obazee was arraigned and tried by the Econonic and Financial Crimes Commission (EFCC) alongside Anayo Nwosu, Olajide Oshodi, Ashok Israni (Indian businessman), Sunny Obazee, Keystone Bank and NULEC Industries Limited on 13 counts of conspiracy, fraudulent diversion, obtaining under false pretences and theft before Justice Kudirat Jose of the Lagos High Court, Igbosere in 2011.
But on December 9, Justice Jose discharged and acquitted Obazee in a judgement that sent Nwosu, Oshodi and Israni to five years in prison each on seven counts; a fine of N20million to the federal government against Keystone Bank and Nulec Industries on three counts, as well as restitution of N395million to the victim of the fraud Chief Chukwudozie of Dozzy Oil and Gas.
For Obazee, the trial years were days of torture, emotional and psychological traumas especially because the fraud he was accused of started at least two years before he joined the bank.
“The mental torture was great. At a point, I had to file a case of breach of human rights against the EFCC because they were harassing and intimidating me with calls and intermittent detention after we had been admitted to bail.
“I have a boy and a girl and both were studying in Canada; all of us, including my wife, were broken down emotionally. In fact, one day in 2015, I put a call to my son and told him we would be going to court the following day and he told me that he was not feeling okay because he kept thinking about my ordeal.
“He said he could not move one of his legs and one arm. He was crying on the phone. He said he did not want to tell me about his situation so as not to compound my problem. I had to call my younger brother, who is a medical doctor in the United States to go and help check on him.
“The second day in court, I sat down weeping profusely and a lady lawyer in the EFCC team had to go and explain my situation to Rotimi Jacobs, the lead lawyer for the agency, who brought the matter to the attention of the court.
“The court magnanimously granted that I be allowed to go and see my boy. Only God helped me not to lose a boy who was close to finishing his university education over a case I knew nothing about. I would have lost Edosa over nothing.
“I was denied of my promotion, sacked and my official car collected. By the virtue of my position, the bank ought to give me two cars and a generator every four years, but before the trouble started, they only gave me one car and a generator. While they sacked me when I was still pursuing the matter, I wrote them on the need to reconcile what I need to get from them or return to them.
“They said they were coming to take the car and the generator and I was not at home the day they came, but they took away the car and said my dogs did not allow them to take the generator, only for them to later write that I am owing them N12 million for the generator.
“In the course of the trial, a friend recommended me to a British firm coming to Nigeria and who needed an investment banker.
“I met the officials and we discussed and I told them that I had an issue with EFCC and that I was sure I would come out unscathed when we departed, they never got across to me again. The EFCC stamped me with an indelible mark,” he told The Nation.
Genesis of the fraud
Israni, the owner of NULEC Industries Limited, had taken some loan from then-BankPHB and his debt rose to N130million around June 2007 and then he decided to raise capital for his company through Private Placement.
Consequently, the bank constituted a team to make a presentation to the authorities to be the Issuing House for the exercise and by then, Obazee had joined BankPHB and was leader of the team by virtue of his position.
A series of events followed the success of the bank in securing the mandate to be the Issuing House for the Private Placement exercise.
Obazee said: “NULEC gave us the mandate to be the Issuing House. I was not in Corporate Finance; the person who headed it was a Senior Manager. Also, the offer for the Private Placement was not underwritten by the bank. If that was the case, I would have been required to sign and the bank would have needed an Approval Memo, as that would mean we were exposing the bank to some risks.
“The document they produced said the transaction should be underwritten by the bank, but that was not done. I was not a signatory to the account and nobody in my division was. The allotment of the shares was done by the bank and I was not involved also. I did not ask anybody to falsify any report. We asked that a Reporting Accountant and a Solicitor be appointed for the transaction.
“The job of the Reporting Accountant was to verify the viability of NULEC Industries Limited and NULEC would do two or three years projection about its activities and what it wanted to use the funds for. In the course of the trial which lasted seven years, the Reporting Accountant gave evidence that NULEC was viable as of the time the money was given to it. “When we handled the offer, the company was not dead. I personally committed N5.7 million to the Private Placement. However, we all witnessed how the Capital Market crashed in 2009. A company, Dozzy Oil and Gas Limited, owned by one Chief Chukwudozie, committed the sum of N855 million to buy 600 million units of the shares at N5 per share.
“Other things being equal and in accordance with the regulations, if the shares were listed as planned, the company and its owners would have made N3billion from the sale of the shares and about N2 billion as profit. Unfortunately, the Capital Market collapsed.
“By the time the market collapsed, it affected a lot of things, even banks and BankPHB was not left out. Chukwudozie started making a demand for his money and some of my colleagues in the bank were being interrogated and probed by the EFCC.
“I came back from leave in 2011 and I was asked by the management to go to the EFCC office to explain myself. Before this time, some of my colleagues were already being investigated by the agency. It was at the EFCC office that I met Chukwudozie for the first time. I explained to him that the ugly development was as a result of the market collapse and I also invested some funds into the project and that if I did not believe it would work, I would not have done so.
“The next thing was that I was made to write a statement and asked a series of questions. I was now joined with those who had been under investigation for two years over the matter.
“I knew I was not involved in any criminal activity. Though I am from a humble background, my father, who worked in the palace of the Oba of Benin, wrote on the lintel of his house, in Bini Language, that good name is better than gold and silver and he inculcated that in his children.
“We were arraigned in 2011 and re-arraigned on 15-count amended charge in October 4, 2016. They still wanted to amend the charges again this year, but the court refused to entertain that.
“Each time they amended the charges, it was like starting all over again. I just wish the stain the trial put on me is removed. The establishment of the EFCC is laudable, but their activities must follow due process and based on facts.
“My son and daughter came all the way from Canada to be in court on the day of judgement because they know the type of father and parents they have. I am grateful to God that in the end I was vindicated,” he said.
Federal High Court in Abuja, on Tuesday adjourned the $150 million dollars suit filed by Chianugo Peter, a Nigerian, against Google LLC and GoDaddy.com LLC over shutdown of his YouTubeAudio.com domain name until April 22 for hearing.
The case, which was before Justice Obiora Egwuatu, could not proceed due to the absence of the judge in today’s proceedings.
Although Emmanuel Ekpenyong, Peter’s lawyer, and Mark Mordi, who is counsel to Google LLC, were in court, Justice Egwuatu was said to be in another official assignment.
The matter was consequently fixed for April 22 for hearing.
Peter had filed the suit over allegations bordering on the shutdown of his YouTubeAudio.com domain name after eight years of promotional and marketing efforts in breach of the contract.
Peter, through his lawyer, named GoDaddy.Com LLC and Google LLC as the 1st and 2nd defendants in the suit filed on April 14, 2023 and marked: FHC/ABJ/CS/238/2023.
In his earlier originating summons filed by Ekpenyong of the law firm of Fred-Young & Evans LP, the Nigerian sought a $150 million in compensation from Google LLC and GoDaddy.com LLC for the alleged cyberspace contract breach.
The plaintiff alleged that the defendants shut down his domain and business name: YouTubeAudio.com and transferred the rights over the name to Google LLC, an American multinational technology company.
Google LLC, in its initial statement of defence dated Nov. 9, 2023, and filed Nov. 10, 2023, by its lawyer, Mr Mordi, SAN, of the law firm of Aluko & Oyebode, urged the court to dismiss Peter’s suit as being unmeritorious and lacking in merits.
Justice Egwuatu had, in April 2024, gave Chianugo Peter the go-ahead to amend his originating processes after his lawyer moved the application for same and it was not opposed by the defence counsel.
In his amended statement of claim dated April 29, 2024, Peter sought ten reliefs.
He sought a declaration that GoDaddy.com was wrong to shut down the YouTubeAudio.com domain name on Dec. 7, 2022 and that Google was wrong to remove “YTAudio” with its website youtubeaudio.com from its Google PlayStore on Dec. 25, 2023 without adequate compensation to him.
He said this is notwithstanding that YouTubeAudio.com domain and business name is different and distinct from YouTube trademarks.
Chianugo Peter wants the court to declare that he is entitled to compensation from the defendants for the loss of the YouTubeAudio.com brand and goodwill which has accrued on the brand and domain name for eight years of promotional and marketing works from July 2, 2015 to Dec. 7, 2022.
He sought an order directing the defendants to pay the sum of $50 million to him for promotional and marketing works on the YouTube Audio business name and YouTube Audio.com domain name for eight years from July 2, 2015 to Dec. 7, 2022.
He sought a $100 million in damages for loss of anticipated profits associated with the brand equity and goodwill of YouTube Audio and YouTube Audio.com domain name.
Peter also sought from the defendants, the sum of 50 million naira to enable him to carry out fresh registrations of its new name and secure an alternative domain name to host its application to attract users.
The Nigerian sought an order directing the defendants to pay the sum of 10 million naira to him for prosecution of the suit.
Alternatively, Peter prayed the court for an order for GoDaddy.com to reinstate and hoist the YouTubeAudio.com domain name which was shut down on Dec. 7, 2022 and for Goggle to also reinstate YouTubeAudio.com on its Google PlayStore platform which was unilaterally removed on Dec. 25, 2023.
Chianugo Peter submitted that he acquired rights over YouTubeAudio.com domain name from Go Daddy.com LLC who conducted a search before confirming that he could make use of the name.
The plaintiff averred that he promoted the domain and business name from 2014 to 2022 and even wrote to Google to introduce YouTubeAudio’s services and to partner with it in 2014 and 2021 but received no response from it on both occasions.
He said in February 2021, he applied for and YouTubeAudio.com was registered on Google Adsense platform for displaying advertisement on the website.
Besides, Peter said in August 2021, the domain and business name was registered on Google Playstore.
According to him, the plaintiff consistently paid GoDaddy.com LLC for registration and use of the domain name from 2015 to 2022.
But Google LLC, in its amended statement of defence and counterclaim dated and filed May 31, 2024, averred that its registration of the YOUTUBE trademarks at the Trademarks Registry gives it the exclusive night to the use of the said trademarks.
It submitted that it has incurred expenses in the sum of 24,040 64 dollars in dealing with Peter’s “deliberate infringement of the counterclaimant’s YOUTUBE trademarks.”
The company, therefore, sought a declaration that Peter’s registration and use of the YouTubeAudio business name with BN 2395035 at the CAC is an infringement of its YOUTUBE registered trademarks.
It prayed the court for an order directing Peter to pay the company the total sum of $24,040.64 being the expenses incurred in dealing with his infringement of the YOUTUBE registered trademarks.
It equally sought an order directing the plaintiff to pay the company the cost of defending the suit.
In his amended reply to Google’s amended statement of defence dated 12th July 2024, Peter responded that it is not in doubt that Google LLC owns YouTube trademarks, however, YouTubeAudio is distinct and different from YouTube trademarks.
Chianugo Peter submitted that Google LLC, being a foremost search engine in the world, knew that he had earlier written to it, that he was making use of the YouTubeAudio domain name for the past eight years without any objection or caveat by either GoDaddy.com or Google.
“Hence, Google LLC is estopped from claiming any right over the YouTubeAudio domain name,” he said.
GoDaddy.com LLC had neither filed any process nor represented in court.
LG Electronics has announced the launch of a nationwide campaign aimed at celebrating decades of customer loyalty and technological heritage by searching for the oldest still-functioning LG television sets across the country.
The initiative, themed “The Oldest LG TV”, seeks to honour long-time customers whose LG screens have stood the test of time, while introducing them to the future of home entertainment through LG’s advanced AI QNED TVs.
For generations, LG televisions have been more than an electronic device in Nigerian homes, they have been silent witnesses to family milestones, cultural moments and shared memories.
This campaign bridges nostalgia with innovation, acknowledging the emotional connection Nigerians have built with the brand while showcasing LG’s leadership in AI-powered display technology.
The campaign features a storytelling -driven narrative that highlights community, heritage and the evolution of viewing experiences. Participants are invited to share the stories behind their long-serving LG TVs, transforming everyday screens into symbols of trust, resilience and innovation.
In creative twist, the campaign also introduces LG’s AI-enabled televisions as responsive companions that understand viewer preferences, recommend content and enhance picture quality in real time. This shift from nostalgia to futuristic interactivity underscores LG’s continued commitment to delivering smarter, more personalized entertainment solutions.
To participate, simply visit https://lgsearchcampaign.vercel.app/ upload a photo or video of your old LG TV and share the story behind it – how long you’ve had it and the memories it holds.
The winner walks away with a brand-new LG AI QNED TV, effectively trading legacy for luxury.
At its core, this campaign reminds us that technology is not only about pixels and processors, but about people. It’s about the laughter in the living rooms, the silence during tense match moments and the comfort of family routines.
By celebrating the oldest TVs still standing strong, LG is celebrating the people who kept the on, families who trusted the brand through changing times and evolving technologies. In doing so, LG isn’t just upgrading television, it’s upgrading memories into the future.
According to Mr. Choongbae Seok, General Manager, Media Entertainment Solutions, LG Electronics Nigeria, “The journey from our classic CRT Televisions to today’s AI QNED technology reflects how far both our customers and our innovation have come. Those early sets were built to last, and many are still functioning today, a testament to durability and consumer trust. This initiative allows us to honour that legacy while introducing a new era of intelligent viewing, where the screen does more than show content; it adapts, learns and enhances every moment”.
LG Display 2026 TV Models at InnoFest
LG Electronics (LG), a leader in AI-powered solutions for the home, outlined plans to accelerate growth in emerging markets at LG InnoFest 2026 MEA. The event, held in Abu Dhabi, provided a forum to share LG’s strategic direction and market outlook with regional partners. At the exhibition, LG displayed its premium 2026 AI TV lineup focusing heavily on advanced processing power, smarter picture and sound technologies. The flagship OLED evo G6 and 100-inch Micro RGB evo TVs are powered by the new Alpha 11 AI processor Gen 3 enabling faster and more intelligent performance. The OLED evo W6 Wallpaper TV, an ultra-slim television designed to sit flush against the wall like artwork uses true wireless connectivity, reducing cable clutter and creating a cleaner, minimal setup.
African leaders used the AU Summit in Addis Ababa over the weekend to sharpen the continent’s technology agenda, with Ethiopia positioning artificial intelligence (AI), digital infrastructure and connectivity as pillars of Africa’s economic future.
Opening the 39th African Union Summit, Ethiopian prime minister Abiy Ahmed outlined an ambitious vision to place Africa at the forefront of the global AI race, anchored by Ethiopia’s plan to launch what he described as Africa’s first AI-focused university.
“In 2020, Ethiopia established Africa’s first Artificial Intelligence Institute. Building on this foundation, we are preparing to launch an AI university anchored in the philosophy of Medemer, purposeful collaboration, to unite human values with machine intelligence and position Africa as a global leader in the age of intelligence,” Abiy told delegates. “
He framed AI not as a standalone sector, but as a cross-cutting enabler for governance, industry and social development. “Every river we manage, every city we design, and every digital platform we deploy must generate resilience, opportunity and dignity,” Abiy said. He further linked digital transformation to Agenda 2063’s long-term prosperity goals.
Beyond AI, the high-powered AU summit discussions highlighted digital identity, cross-border connectivity and telecom expansion as critical building blocks for an integrated African market. Ethiopia’s Digital Ethiopia 2030 roadmap, including its Faida digital ID ecosystem, was cited as a model for secure, interconnected public services.
Abiy pointed to aviation and telecom infrastructure as key accelerators for economic development across the continent. “Through Ethiopian Airlines, we connect people and markets. Ethio Telecom is expanding partnerships across Africa to bridge the digital divide,” he said.
The Ethiopian leader added that large-scale infrastructure projects are designed to anchor Africa deeper into global value chains.
The broader summit tech agenda also touched on regulatory harmonisation, digital trade and data governance, with leaders emphasizing that continental cooperation is essential to avoid fragmented digital markets.
UN Secretary-General António Guterres underscored the need for inclusive innovation, telling delegates that Africa’s digital rise must be “people-centered and opportunity-driven,” while African Union Commission Chair Mahmoud Ali Youssouf stressed coordinated policy frameworks to accelerate adoption.
“AI capability, digital infrastructure and unified regulation are no longer optional ambitions, but strategic imperatives shaping the continent’s competitiveness in the intelligence era,” he said.
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