Benue Court Sentences Company MD to 48 Years for N500 Million Investment Fraud

A Federal High Court in Makurdi has sentenced Agene Johnson Godwin, Managing Director of Builderstech Solution Ltd, to 48 years imprisonment for defrauding more than 5,000 Nigerians of over N500 million.

The Economic and Financial Crimes Commission (EFCC) prosecuted the case. In a ruling delivered by Justice M.S. Abubakar, Godwin was convicted on an amended eight-count charge and given the sentence without an option of a fine.

The judgment is seen as a significant victory in the fight against investment fraud, serving as a strong deterrent to individuals and entities seeking to exploit citizens through deceptive schemes.

This case follows other major crackdowns on investment scams. In May 2025, the EFCC announced it had recovered a portion of an estimated N1.3 trillion allegedly stolen through the digital platform Crypto Bridge Exchange (CBEX). EFCC Chairman Ola Olukoyede confirmed the recovery and arrests, noting the challenges of tracing and converting stolen cryptocurrency back to fiat currency.

The collapse of CBEX had previously wiped out the savings of thousands of Nigerians, predominantly youths, who had invested in what they believed was a legitimate opportunity.