Peter Igoin
The Economic and Financial Crimes Commission (EFCC) has arraigned a man identified as Igoin Tokoni Peter before the Federal High Court in Abuja over an alleged fraud involving more than ₦25 million.
According to the anti-graft agency, the defendant allegedly impersonated a Special Adviser to the President on ICT Development and Digital Innovation in order to deceive unsuspecting victims and obtain money under false pretenses.
The EFCC disclosed that Peter was brought before Justice Obiora Egwuatu on a four-count charge bordering on impersonation and obtaining money through fraudulent means. The details of the case were made public in a statement shared on the commission’s official social media platform.
Investigations revealed that between August 2024 and October 2025, the suspect allegedly collected over ₦25 million from Dontown Assets Limited through the Zenith Bank account of Smartz Skyward Energy Limited. He reportedly claimed the funds were meant to facilitate the acquisition of a cryptocurrency exchange operational license.
The commission further alleged that the defendant obtained another ₦19 million from Jeriod Limited within the same period under similar claims. Prosecutors maintained that the representations made by the accused were false and intended to defraud the victims.
The offences are said to violate provisions of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
During the court proceedings, Peter pleaded not guilty to all charges filed against him. Following his plea, prosecution counsel Christopher Mshelia asked the court to fix a trial date and order the defendant’s remand at the Kuje Correctional Centre pending the commencement of trial.
Justice Egwuatu, however, granted the defendant bail in the sum of ₦400 million with two sureties in like sum. The court stated that one of the sureties must be an Abuja-based property owner, while the second must be a civil servant not below Grade Level 15.
Both sureties are also expected to provide valid means of identification and passport photographs as part of the bail requirements.
Pending the fulfillment of the bail conditions, the defendant will remain in custody at the Kuje Correctional Centre.
The court subsequently adjourned the matter until July 16, 2026, for the commencement of trial.
The case highlights growing concerns surrounding fraudulent activities linked to Nigeria’s expanding digital and cryptocurrency sectors. It also reflects the EFCC’s continued crackdown on impersonation, cyber-related fraud, and financial crimes targeting investors and businesses.
Observers within the technology and financial sectors are expected to monitor the case closely, especially as it relates to investor confidence and regulatory credibility in Nigeria’s emerging digital economy.
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