News
US indicts Air Peace CEO, Onyema, in fresh charges
Allen Onyema, chairman of Air Peace, has been charged ‘in a superseding indictment with obstruction of justice for submitting false documents to the government in an effort to end an investigation that resulted in earlier charges of bank fraud and money laundering.’
This was contained in a statement released on Saturday by the Justice Department.
Ejiroghene Eghagha, the airline’s Chief of Administration and Finance, was also charged for participating in the obstruction scheme, as well as in the earlier bank fraud counts, the statement posted on Justice.gov claimed.
“After allegedly using his airline company as a cover to commit fraud on the United States’ banking system, Onyema, along with his co-defendant, allegedly committed additional crimes of fraud in a failed attempt to derail the government’s investigation of his conduct,” said U.S. Attorney Ryan K. Buchanan, according to the statement.
Onyema has consistently denied the report and insisted on his innocence.
But the statement was quick to add that the indictments only contain charges as the defendants are presumed innocent of the charges and it will be the government’s burden to prove the defendants’ guilt beyond a reasonable doubt at trial.
“The diligence of our federal investigative partners revealed the defendants’ alleged obstruction scheme, making it possible for the defendants to be held accountable for their aggravated conduct of attempting to impede a federal investigation.
“These cases represent the continued commitment of the Drug Enforcement Administration to identify and hold accountable those who engaged in fraud and money laundering,” said Robert J. Murphy, Special Agent in Charge of the DEA Atlanta Division.
“Allegedly, Onyema and his accomplices fraudulently used the U.S. banking system in an effort to hide the source of their ill-gotten money,” said Assistant Special Agent in Charge Lisa Fontanette, Internal Revenue Service – Criminal Investigation Atlanta Field Office.”
According to the charges, the superseding indictment “is indicative of the dedication IRS-CI special agents and our law enforcement partners have, as part of the Organized Crime Drug Enforcement Task Forces, to neutralize threats to the United States from criminal organizations.”
“The charges announced today demonstrate the criticality of diligence and truth in criminal justice proceedings,” said Steven N. Schrank, Acting Special Agent in Charge, Homeland Security Investigations Atlanta that covers Georgia and Alabama. “HSI and our partners are committed to pursuing those who seek to exploit our nation’s financial system and any efforts to cover up illegal activity.”
According to U.S. Attorney Buchanan, the superseding indictment, and other information presented in court: Onyema, a Nigerian citizen and businessman, is the CEO and Chairman of Air Peace, a Nigerian airline founded in 2013.
It stated that between 2010 and 2018, Onyema travelled frequently to Atlanta, where he opened several personal and business bank accounts.
According to Buchanan, more than $44.9 million was allegedly transferred into his Atlanta-based accounts from foreign sources.
Beginning in approximately May 2016, Onyema, together with Eghagha, allegedly used a series of export letters of credit to cause banks to transfer more than $20 million into Atlanta-based bank accounts controlled by Onyema. The letters of credit were purportedly to fund the purchase of five separate Boeing 737 passenger planes by Air Peace and were supported by documents such as purchase agreements, bills of sale, and appraisals. The documents purported to show that Air Peace was purchasing the aircraft from Springfield Aviation Company LLC, a business registered in Georgia.
Recall that the American and a former staff of Springfield Aviation Company, who was accused to have played a key role in an alleged bank fraud case against Onyema, has stated that there was no loss suffered by any bank.
In a statement issued by A.O. Alegeh & Co Legal Practitioners & Notaries Public, a law firm and Counsel to Allen Onyema, Ejiro Eghagha and Air Peace Limited stated that the position of the court has cleared its clients.
FirstBank, West Africa’s premier financial institution and the leading financial inclusion service provider, has announced its strategic sponsorship of the second edition of ChessMasters, Africa’s largest school chess tournament. The announcement was made at the official press conference of the tournament held on 16 March 2026 at Eko Hotels and Suites, Lagos.
ChessMasters is an annual chess tournament designed to equip the next generation with critical thinking, problem-solving, and leadership skills. The competition targets children in primary school aged between 6 and 11 years old. Organised by Eko Hotels and Suites & KEY Academy , ChessMasters was created to provide thousands of children across Nigeria with opportunities to develop modern educational skills, bringing schools together on a national stage.
Speaking at the press conference, Olayinka Ijabiyi, Acting Group Head, Marketing & Corporate Communications at FirstBank, said, “Our sponsorship of ChessMasters 2026 reflects our commitment to building talents and communities, driving inclusion, and deepening engagement through our First@Sports initiative, a platform that celebrates talent and promotes social impact through sports. With over a century of supporting legacy sports in Nigeria, we are proud of our enduring partnerships – 105 years with the Georgian Cup, 65 years with the Lagos Amateur Golf Championship and 35 years with the Dala Hard Court Tennis Championship.”
Ijabiyi further highlighted how the sponsorship aligns with FirstBank’s sustainability pillars of Education, Health, and Welfare. “We recognise the potential of chess to help school-age children challenge themselves, think critically, and compete at the highest level, hence we see the tournament as a launchpad for a pan-African movement leveraging chess as a tool for education, empowerment, and leadership development. We are utilising this platform as another avenue to promote social impact and drive positive change in the community.”
Caline Chagoury Moudabar, Director and Co- Founder of ChessMasters and her partner Damilola Okonkwo of Key Academy, expressed appreciation for FirstBank’s support, noting that the partnership will help scale the impact of ChessMasters and inspire more schools to participate. “We are happy to welcome FirstBank on board. This collaboration will boost chess development in Nigeria and promote critical thinking among young minds. With support from partners like FirstBank, we are opening the doors of participation to more children and more schools in this year’s edition.”
Prince Adeyinka Adewole, Vice President of the Nigeria Chess Federation, commended the initiative, emphasising its role in nurturing future chess talents. “Chess connects people, ideas, and opportunities. It teaches children to be analytical, patient, and manage their time and resources effectively. Chess also improves concentration and has been particularly beneficial for children with autism.”
The second edition of ChessMasters will be held on Saturday, 2 May 2026 at Eko Hotels and Suites, Lagos. The competition is open to 150 schools across Lagos, with over 700 students expected to participate and vie for a total prize pool of N10 million.
FirstBank’s involvement in the 2026 edition of the tournament reinforces the potential of ChessMasters to become a launchpad for African children, leveraging chess as a tool for education, empowerment, and leadership development.
Zenith Bank Plc has announced the appointment of Mr. Kennedy Onuwa Okwudili as an Executive Director of the bank effective May 1, 2026. The appointment, which is consistent with the bank’s tradition and succession strategy of grooming leaders from within, will further strengthen the bank’s Executive Management.
Mr. Okwudili graduated with a Bachelor of Science (Honours) in Accounting in 1998 from the University of Maiduguri, Nigeria, with a Second Class Upper division. He obtained a Masters of Business Administration (MBA) from the Ahmadu Bello University, Zaria, Nigeria in 2008 and a Masters of Science in Accounting from Veritas University, Abuja, Nigeria in 2021.
Mr. Okwudili has over twenty-five years of cognate banking experience spanning credit and marketing, treasury, compliance as well as operations and had at different times worked in various zones and departments of the bank.
He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), 2013, a Fellow of the Chartered Institute of Bankers of Nigeria (CIBN), 2024 and an Associate of the Chartered Institute of Taxation of Nigeria (CITN), 2016.
He has attended several Executive Education Programmes both within and outside the country, including: Senior Leadership Development Programme at the Lagos Business School, Corporate Directorship Programme at the Harvard Business School and Oxford Advanced Management and Leadership Programme at the University of Oxford, SAID Business School.
He is currently the President of Catholic Bankers Association of Nigeria (CBAN) and a member of the Noble Order of the Knights of St. John International (KSJI).
FirstBank’s MREIF mortgage loan product is an opportunity waiting for Nigerians to grab, as FirstBank, Ministry of Finance Incorporated (MOFI) partner to bridge housing deficit and empower citizens with credit to own their own homes of choice in any 36 states of the federation including Federal Capital Territory (FCT).
This laudable initiative considers the importance of shelter to Nigerian citizens especially low and middle income earners that have to save for years before they can build for themselves. It aims at delivering homes to those who would apply without stress, putting smiles on the faces of Nigerians now, and during retirement.
Through MREIF, FirstBank will provide eligible customers with access to loans of up to N100 million with a repayment period of up to 20 years, at an attractive interest rate of 9.75% per annum. This is less than the usual interest rate on regular loans which sit at about 27% or more today. The repayment duration of 20 years makes the loan attractive for customers without stress.
The mortgage facility is available to salary account holders, business owners, and diaspora customers.
Interested customers are required to visit the Bank’s website: https://www.firstbanknigeria.com/personal/loans/mreif-home-loan/ where they can find detailed information and begin their journey toward homeownership
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