Benue Court Sentences Builderstech MD To 48 Years For Defrauding Over 5,000 Nigerians Of N500Million
Benue Court Sentences Builderstech MD To 48 Years For Defrauding Over 5,000 Nigerians Of N500Million
The court’s judgment marks a decisive victory against investment fraud in Nigeria, sending a stern warning to individuals and companies that exploit unsuspecting Nigerians for financial gain.
A Federal High Court in Makurdi has sentenced Agene Johnson Godwin, Managing Director of Builderstech Solution Ltd, to 48 years imprisonment without an option of fine for defrauding over 5,000 Nigerians of more than N500 million.
The Economic and Financial Crimes Commission (EFCC) disclosed the development in a post on X, saying, “Makurdi Court Jails, Agene Johnson Godwin, 48 Years Over Investment Scam. Justice M.S. Abubakar of the Federal High Court, Makurdi has sentenced the Managing Director, Builderstech Solution Ltd, Agene Johnson Godwin to 48 years imprisonment without option of fine for defrauding over 5,000 unsuspecting victims to the tune of over N500,000,000 (Five Hundred Million Naira). Johnson was convicted on an amended 8 count charge brought against him by the EFCC.”
The court’s judgment marks a decisive victory against investment fraud in Nigeria, sending a stern warning to individuals and companies that exploit unsuspecting Nigerians for financial gain.
In a similar incident, in May 2025, the EFCC announced the recovery of a portion of an estimated N1.3 trillion allegedly stolen from Nigerians through the digital investment platform, Crypto Bridge Exchange (CBEX).
This was announced by the chairman of the anti-graft agency, Mr Ola Olukoyede in an interview with TVC.
The EFCC Chairman added that the agency’s operatives had also arrested some suspects in connection with the fraud.
“We have gone far with CBEX. We have been able to recover a reasonable amount of money,” he said.
He explained further that stolen money was in cryptocurrency and the EFCC had been able to trace and recover part of it.
He also acknowledged that the agency experienced difficulties while converting the funds back to dollars in cash.
SaharaReporters earlier reported how CBEX crashed, wiping out the life savings of thousands of Nigerians, particularly young people, who believed they were investing in a legitimate platform.
