EFCC arraigns fake presidential aide accused of defrauding victims of over N25m through false cryptocurrency licence claims

The Economic and Financial Crimes Commission has arraigned one Igoin Tokoni Peter before the Federal High Court in Abuja over an alleged N25 million fraud involving impersonation and false claims linked to cryptocurrency licensing.

Also read: EFCC arraigns three over N42m contract fraud

The defendant was arraigned before Justice Obiora Egwuatu on a four-count charge bordering on impersonation and obtaining money under false pretences.

According to the EFCC, Peter allegedly posed as a Special Adviser to the President on ICT Development and Digital Innovation and used the false identity to obtain funds from companies seeking cryptocurrency exchange operational licences.

The anti-graft agency disclosed the development in a statement posted on its official X handle on Tuesday.

EFCC arraigns fake presidential aide after investigators alleged that the defendant fraudulently collected funds through accounts linked to Smartz Skyward Energy Limited.

One of the charges stated that Peter allegedly obtained N25,941,787 from Dontown Assets Limited between August 30, 2024, and October 30, 2025, under the pretext of facilitating a cryptocurrency exchange operational licence.

The commission alleged that the defendant falsely claimed to be a presidential aide responsible for ICT development and digital innovation.

Another charge accused Peter of obtaining N19,806,500 from Jeriod Limited between September 5, 2024, and October 10, 2025, using the same alleged false representation.

According to the EFCC, the offences contravene provisions of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.

The defendant pleaded not guilty to all four charges when they were read in court.

Following the plea, prosecution counsel, Christopher Mshelia, requested a trial date and urged the court to remand the defendant in Kuje Correctional Centre pending trial.

Justice Egwuatu granted the defendant bail in the sum of N400 million with two sureties in like sum.

The court ruled that both sureties must reside in Abuja, while one must be a property owner who would provide relevant property documents, identification and passport photographs.

The second surety, according to the court, must be a civil servant on Grade Level 15 and must also provide official identification and passport photographs.

Pending fulfilment of the bail conditions, the defendant was remanded in Kuje Correctional Centre.