Victor Ogiemwonyi expelled from the NSE for fraud, Edo AG’s husband NOT indicted

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By: Faith, Iguodala Okoro, Benin. (Additional reports by Omede, James Samuel)


Mr Victor Ogienmwonyi, owner of Urban Oasis Hotel and former member of the Nigeria Stock Exchange (NSE) has been expelled from the NSE over N4.8bn Shares fraud which he was earlier indicted for in February 2017.

Ogiemwonyi was expelled for life for his role in stock fraud after an investigation panel indicted him.

Urhokpota Reporters had erroneously reported that Mr Alan Omorogbe, husband of the Attorney General of Edo State, Mrs Yinka Omorogbe, who was a business partner with the expelled Ogiemwonyi, was also suspended for fraud.

However further investigation by Urhokpota Reporters reveal that Mr Alan Omorogbe was not indicted for fraud but only invited because he was a member of the company in the past.

In a polite and highly commendable response to Urhokpota Reporters by Mr Alan Omorogbe, the easy going Benin-based international business magnate who also has interests in furniture businesses explained that he was once a member of the company that was being investigated over a decade ago but sold off his shares and as since stayed away.

He explained that he was only invited to give an account of what he knows about the company only because his name was in the earlier documents, stressing that he had absolutely nothing to do with any indictable matter.

“I was invited by SEC, investigated and cleared by them. I was not indicted. You can check pages 26 and 27 of Vanguard newspaper (today) for the release by SEC on the matter”, a highly disappointed Mr Omorogbe explained.

According to our source who pleaded anonymity,  “Mr Omorogbe was suspended along side APC financier and member of the Board of Afrinvest, Mr Victor Ogiemwonyi.” But this report has been found to be untrue, we apologize for the error.

Ogienmwonyi is also Chief Executive Officer of Partnership Investment as well as owner of Urban Oasis Hotel in Benin city.

Victor Ogiemwonyi, expelled from the NSE for fraud.

Ogiemwonyi was allegedly expelled for life from the Nigerian Stock Exchange as a result of the N4.8bn Shares scandal which he was indicted for in February 2017.

Mr Alan Omorogbe, husband of Edo AG

As usual, URHOKPOTA REPORTERS shall dig even deeper into this matter and update you as soon as we have new information.

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