Nigeria High Court sitting in Lagos State has convicted and ordered the deportation of 12 Philippines or Filipinos after the Federal High Court found them guilty of engaging in the act of cyber-terrorism with intent to cause disruption to Nigeria economy, and another court in Lagos State has ordered the closure of a collective investment scheme firm, CJC Markets Limited, overt the firm failure to register with the Securities and Exchange Commission, SEC.

Details of the reports as presented by the Public Relations Unit of the Economic and Financial Crimes Commission, EFCC reads verbatim below:

Court Jails 12 Filipinos for Cyber-terrorism, Internet Fraud  in Lagos

Justice Yellin Bogoro of the Federal High Court sitting in Ikoyi, Lagos, on Friday, May 23, 2025, convicted and sentenced twelve Filipinos to one year imprisonment each for cyber-terrorism and internet fraud.

The convicts are: Anjeanette Topacio, Gladys Joy Mag-Iba, Jean Calago, Shairah Mae Reyes, Roseann Gonzales, Lari Jane Tayag, Mary Grace De La Cruz, Krystel Aquilesca, Jonilyn Agulto, Paizza Camara, Vivian Pionella and Jonalyn Mendoza

They were arraigned on Friday by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC,  on separate charges of possession of fraudulent documents.

One of the counts reads: “That you, Anjeanette Topacio, sometime in December 2024, in Lagos, within the jurisdiction of this Honorable Court, willfully caused to be accessed, computer systems organized to seriously destabilize and destroy the fundamental economic and social structure of Nigeria when you procured/employed Nigerian youths for identity theft and to hold themselves out as persons of foreign nationality, with the intent to gain a financial advantage for yourselves and you thereby committed an offence contrary to and punishable under Section 18 of the Cybercrimes (Prohibition, Prevention, Etc) Act, 2015 (As amended 2024) and Section 2(3)(d) of the Terrorism (Prevention, Prohibition) Act, 2022.”

Another charge reads: “That you, Shairah May Reyes, sometime in December 2024, in Lagos within the jurisdiction of this Honorable court, had in your possession a document containing false pretense, printed from your Telegram, wherein you posed to be a lady, living in the UK , which representation you knew to be false, thereby committed an offence, contrary to Section 6 (8c) of the Advance Fee Fraud and other Fraud Related Offences Act, 2006 and punishable under section 1(3) of the same Act.”

They all pleaded “guilty” to the charges when they were read to them.

In view of their pleas, the prosecution counsel, N.K Ukoha and H.U Kofarnaisa, respectively requested that the court convict the defendants as charged, in accordance with the plea bargain they had entered into with the Commission.

Justice Bogoro convicted and sentenced the defendants to one year imprisonment each, with a fine of ₦1,000,000.00, ( One Million Naira).

The judge also ordered the Comptroller-General of the Nigeria Immigration Service NIS, Mrs Kemi Nanna Nandap, to ensure that the convicts are repatriated to their country of origin within seven days upon completion of their sentences.

The devices recovered from the defendants were also ordered forfeited to the Federal Government of Nigeria.

Court Winds Up Illegal Capital Market Firm in Lagos

Justice C.J Aneke of the Federal  High Court sitting in Ikoyi , Lagos, on Thursday, May 22, 2025, ordered the winding up of a fraudulent collective investment scheme firm, CJC Markets Limited, over failure to register with the Securities and Exchange Commission, SEC.

  He gave the order, following the arraignment of the company  by the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission, EFCC,  on a one-count charge bordering on investment fraud on Thursday, May 22, 2025.

A petitioner alleged that CJC Markets Limited, sometime in January, collected the sum of ₦30 million, ( Thirty Million Naira) from one Wamyil Mangna, with a promise of a 30% Return on Investment, ROI.

Investigation revealed that CJC Markets Limited is not registered with the Central Bank of Nigeria, CBN, or the Security and Exchange  Commission, SEC, to carry out capital market operations or collect investments.

The count reads: That you, CJC Markets Limited, being a company incorporated in Nigeria, Aihua Chen (at large) and Okungbeni Dickson (at large), being the Directors respectively, sometime in 2021 in Nigeria, within the Judicial Division of this Honourable court, while carrying on your scheme of Collective Investment, failed to register with the Securities and Exchange Commission, and thereby committed an offence contrary to Section 54(1) of the Investment and Securities Act 2007 and punishable under Section 54(6) of the same Act.”

A guilty plea was entered for the Company.

In view of this,  prosecution counsel, Abdulhamid L Tukur, called on Christian Chukwu, an operative of the EFCC, to  review the facts of the case.

Chukwu, in his testimony, told the court that the  Commission received a petition from Matthew Burkaa and Co Legal Practitioners on behalf of the petitioner, Mangna.

He also told the court that the Commission, during investigations, subsequently wrote letters to the United Bank of Africa, UBA, the CBN and SEC, and that they all responded.

He added that the finance officer of the company, Mr Kolawole Josiah, volunteered his  statement, regarding the involvement of the company in the capital market.

Thereafter, he identified the petition received, the letters written by the Commission to the SEC, CBN and UBA as well as the statement from the Finance Officer of the company .

Tukur then sought to tender, in evidence, the documents, which were all admitted and marked as exhibits by the court. The prosecution, thereafter, prayed the court to convict and sentence the company accordingly.

Counsel to the defendant, Adeniyi Komolafe, asked the court to wind up the said company.

Justice Aneke convicted CJC Markets Limited as charged and ordered that it be wound up and delisted from the Corporate Affairs Commission, CAC.

The company was wound up for running a fraudulent collective investment scheme firm, CJC Markets Limited, without registering with the Securities and Exchange Commission, SEC.