EFCC Arraigns Terraworks CEO, Ntai Bagshaw over N70m Fraud in Lagos

Court

By TONY ADAMS

The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, Awolowo Road, Ikoyi, Lagos, on Thursday, May 8, 2025 arraigned one Ntai Bagshaw and his company, Terraworks Limited before Justice I. O. Ijelu of the Lagos State High Court, sitting in Ikeja, Lagos for fraud.

They are being prosecuted on a two-count charge, bordering on obtaining money under false pretence and stealing.

Count one reads: “That you Ntai Bagshow and Terraworks Limited sometime in December 2021 at Lagos within the Ikeja Judicial Division with intent to defraud obtained from Muyiwa Makinde the sum of N70,000,000.00 (Seventy Million Naira) under the false pretense that the money is for the payment of a detached Duplex in Renat Axis, located at Ogudu GRA, Lagos State which pretence you knew to be false”.

Count two reads: “That you Ntai Bagshow and Terraworks Limited sometime in December 2021 at Lagos within the jurisdiction of this Honourable Court dishonestly converted to your own use the sum of N70,000,000.00 (Seventy Million Naira) being payment for Detached Duplex located at Ogudu GRA, Lagos State.”

He pleaded “not guilty” to the charges when they were read to him, following which prosecution counsel, F. T. Giwa asked the court for trial date and prayed that the defendant be remanded in a correctional center.

Justice Ijelu adjourned the matter till May 13, 2025 for the hearing of the bail application and commencement of trial. He ordered that the defendant be remanded in a correctional facility.