A Must Read: How Anayo Nwosu Duped His Customer 855 Million Naira

Anayo Nwosu

By Jeff Ozigbo

Life has taught me that you cannot predict how people you trust can turn out to be. You cannot guarantee someone’s loyalty.

No matter how good you are to people, does not mean that they will reciprocate the good gesture. No matter how much they mean to you, does not mean that they will value you the same way. Sometimes the people you love most turn out to be the ones that will betray you. The person you would take a bullet for would be the one standing behind the trigger against you.

This is the story of Mr. ANAYO NWOSU, a staff of BANK PHB (now KEYSTONE BANK). In 2008, Chief Daniel Chukwudozie, out of his magnanimity, decided to strengthen Mr. Anayo Nwosu’s job in the bank by making him his account officer. Chief Chukwudozie trusted him with his money, but instead of paying him back with good deeds, Mr. ANAYO NWOSU connived with others to dupe him of the sum of 855 Million Naira.

Mr. ANAYO NWOSU and co were perfidious enough to convert Chief Chukwudozie’s money into their personal investments.

EFCC investigated the matter, found criminality and charges the matter to court. Despite hiring three Senior Advocates of Nigeria (SANs) to represent them in court, Mr. ANAYO NWOSU and co were found guilty by Justice Kudirat Jose of Lagos State High Court , Igbosere, and sentenced to five years in jail. They were also ordered them to restitute the stolen money to the victim.

Now, due to the COVID-19 pandemic ravaging the world, the Executive Governor of Lagos State, Mr. Babajide Sanwo-Olu, decided to decongest the prisons by granting pardon to some inmates. Mr. ANAYO NWOSU, rightfully or wrongfully, happened to be one of the beneficiaries of the prison decongestion exercise. Instead of going to thank God for his new found freedom and showing remorse for his fraudulent activities, he decided to embark on cheap image laundering activities.

I want to remind you my dear Mr. ANAYO NWOSU that the mere fact that you benefitted from the Governor’s pardon does not wipe away the fact that you were charged, tried, found guilty and convicted by a competent court of law before the pardon came. Image laundering CANNOT take away these facts of history from you. Real repentance and restitution is exactly what you need.


See the original court judgement in the case against Mr ANAYO NWOSU and Co

As at the time of this report, all attempts to reach out to mr Anayo Nwosu to hear his own account of the story via phone proved abortive as his mobile line was not reachable.

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  1. The writer of this piece seems to be on a mission to character assassination which he would be liable.
    This case is a celebrated case in the banking industry and capital market in Nigeria.
    I have been following this matter since August 2012 when EFCC charged Bank PHB, two of its officers namely Anayo Nwosu and Olajide Oshodi, Nulec Industries Plc and its executive chairman, Mr. Ashok Israni to court.
    Someone took a decision to buy shares issued by Bank PHB and a staff namely Anayo Nwosu, sold the shares to him. Anayo did not convert any sale proceeds to any investment as the buyer who bought in many names was issued 100% of his share certificates.

    The investigations and court show that Chief Daniel Chukwudozie, the owner of Dozzy Oil & Gas Ltd used 16 fictious names to buy Nulec Industries Plc shares offered via Private Placement.
    Anayo Nwosu was the marketer that introduced Mr. Chukwudozie to the offer in 2008.
    I know that three years after the offer exactly in 2011 when the capital markets collapsed, Chief Chukwudozie petitioned EFCC to help it recover his investment. The court records show that many people including Bank PHB staff and directors but the same Nulec shares.
    Is Chukwudozie the only person that invested in Nulec shares? If not for the fact that he is a rich man, how could he turn EFCC to a recovery ally.
    I am sure that the decision of the Lagos State court will be quashed in appeal as it is manifestly perverse.
    I advise this blog to scrutinize the article it publishes to avoid legal suits.

  2. Dear author, unfortunately I could not read the “how” in this write up. This is more of an attack on Anayo’s person and character. If he was actually guilty as you claim, his employers would not have promoted him and CBN wouldn’t have confirmed his promotion too. Perhaps, dozzy may have settled your conscience handsomely to publish this. Better be very careful. You had better mind your choice of words or face the tune of the music you are about to play.

  3. This write up is a pure hatchet job.Yes,there was a transaction.Yes ,there was a trial.Yes,there a conviction.But most importantly,there was a pardon.The bare facts without emotions are simple.No doubt Dozzy oil and Anayo’s relationship predates the transaction.Anayo’s employer was selling shares for a company via private placement.Anayo simply did what he was paid to do;sell those shares.There is no crime in selling to those you know.Dozzy willingly and consciously bought the shares.Dozzy simply wanted to take advantage of a sleazy market when then allowed listing the shares,at a price two or three times the value of the private placement price.In other words,Dozzy wanted to take advantage of the system;Dozzy wanted a kill.To ensure he got his fill,Dozzy bought in 16 different names which he later consolidated.Dozzy were duly allotted the shares he bought and certificates were issued in respect of the allotted shares.The big snag in the whole story was policy change.Out of the blues the policy became ‘list at the same price the private placement was sold’.The intended ‘kill’ died.Dozzy wanted out.Dozzy in his frenzy frustrated the conversion of the selling company from a private to a public company.This is a vital requirement before the shares can be listed.Dozzy did a petition to EFCC.The rest is history.
    The facts and records are public knowledge.Anayo was not convicted for any crime or for conspiring to commit any crime.Anayo was convicted for doing the job he was employed and paid to do.The court said he was the ‘eyes and legs’ of his employer and hence must partake in the commissions and ommissions of his employer.Another fact is that it was found that Anayo did not benefit from even one kobo out of the hundreds of millions of naira involved in the transaction.One does not commit crime for others to benefit.In other words,Dozzy did not even show appreciation for all Anayo did to him.It is actually the height of professionalism to close a deal this large without benefiting one kobo,both off record and on record.
    The final part is that Anayo has been PARDONED.Yes.Pardoned by the governor of Lagos state.He is clean and without blemish.He is back to work.You cant be a criminal and work in the banking system.Anayo’s employer also found him worthy to be promoted.
    Dozzy is wallowing in needless vengeance.He is also misdirecting the vengeance.The system put paid to his carefully laid plans for a kill.Dozxy didnt commit a crime by doing so.Dozzy simply wanted to exploit the system.And the system failed him.He found in Anayo a scapegoat.

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