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Tag: Money laundering

  • Alleged money laundering: EFCC arraigns P&ID director, six firms

    Alleged money laundering: EFCC arraigns P&ID director, six firms

    The Economic and Financial Crimes Commission (EFCC) on Tuesday arraigned a Briton, James Nolan, and six firms for alleged money laundering.

    Nolan, said to be a director of an Irish engineering firm, Process and Industrial Development (P&ID), was named in six separate charges at the Federal High Court in Abuja.

    The prosecution said he is a director in the firms.

    Nolan, Adam Quinn and Neil Murray (two other absent directors) are accused of failing to put in place anti-money laundering measures in the firms.

    The companies are Lurgi Consult Ltd (named in the charge numbered FHC/ABJ/CR/143/20), Kristholm Nigeria Ltd (FHC/ABJ/CR/144/20), Marshpeal Nigeria Ltd (/ABJ/CR/145/20); Babcock Electrical Projects Ltd (FHC/ABI/CR/146/20); LIR Resources Nigeria Ltd (FHC/ABI/CR/147/20), and Ecophoenix Nigeria Ltd (FHC/AB)/CR/148/20).

    Nolan pleaded not guilty to the charges.

    Prosecuting lawyer, Bala Sanga, applied that the defendant be remanded in prison pending trial.

    Nolan’s counsel, Paul Erokoro (SAN), in an oral application, prayed the court to grant his client bail.

    Erokoro relied on the fact that Nolan had been admitted to bail by the court in another case numbered FHC/ABJ/CR/239/2019 before Justice Okon Abang.

    He urged the court to adopt the bail terms, which the Court of Appeal varied on July 7.

    Sanga said he had no problem with the court adopting the terms of the earlier bail.

    He said the prosecution was only interested in having the defendant attend court to stand trial.

    Sanga spoke of a plan to apply for the arrest of Quinn and Murray to ensure their prosecution.

    Justice Ahmed Mohammed granted Nolan bail on the existing terms as varied on appeal.

    The judge adopted the same ball terms for the other five charges.

    He adjourned until October 5 for trial.

    In the case before Justice Abang, Nolan is also being tried on charges of money laundering.

    He is charged with two firms – Goidel Resources Limited and ICIL Limited -in which he is said to be a director, along with Quinn.

    A count in one of the charges on which Nolan was arraigned yesterday reads: “That you, Ecophoenix Ltd, being a designated non-financial institution; Adam Quinn (at large), a director of Ecophoenix Ltd and James Nolan, a director of Ecophoenix Ltd; sometime in September 2013, in Abuja, failed to copy with the requirements of submitting to the Federal Ministry of Industry, Trade and Investment, a declaration of the activities of Ecophoemix Ltd as specified under Section 5(1)(a)(ii) of the Money Laundering (Prohibition) Act, 2011 (as amended) and you, therefore, committed an offence punishable under Section 16(2)(b) of the same Act.”

  • FG accuses Ex-AGF Adoke, Aliyu of laundering $23.3m, N3.077b in amended charge

    FG accuses Ex-AGF Adoke, Aliyu of laundering $23.3m, N3.077b in amended charge

    The Federal Government has accused ex-Attorney General of the Federation (AGF) and Minister of Justice, Bello Adoke and a businessman, Aliyu Abubakar of laundering about $23,352,100.00 and N3, 077,318,800.00 in an amended 14-count charge filed against them.

    The amended charge, marked: FHC/ABJ/93/39/2017 replaced an earlier seven-count charge, with same number, on which Adoke and Aliyu were arraigned before Justice Inyang Ekwo of the Federal High Court, Abuja on June 17 this year.

    Both defendants were re-arraigned on the amended charge before the same judge on Tuesday, to which they pleaded not guilty when all the counts were read to them by an official of the court.

    Justice Ekwo subsequently adjourned till August 11 for the prosecution to open its case by calling its first set of witnesses.

    In the old charge, six counts were directed at Adoke, while only one was directed at Aliyu. But, in the amended one, seven counts are directed at each of the defendants.

    Some of the counts against Adoke read:

    *That you Mohammed Bella Adoke sometime in September 2013 in Abuja, made a cash payment of the sum of $2,267,400.00 to one Rislanudeen Muhammed, and you thereby committed an offence contrary to the combined effect 01 section 16 (1) (d) and 01 section 1(3) of the Money Laundering Prohibition Act 2011 (as amended) and punishable under section 16 (2)(b) of the same Act.

    *That you Mohammed Bello Adoke sometime in September 2013 in Abuja, did cause to be made a structured cash payment in 13 tranches of a sum of money totaling N50.000, 000.00 into your Unity Bank Plc Account No. 0020153263, which sums you knew s part of an unlawful act, to wit: the payment of an amount exceeding stated threshold amounts outs1de a financial Institution. Intending to conceal the origins of the said funds, contrary to section 15 (2 )(a) of the Money Laundering Prohibition Act 2011 as amended and punishable under semen 15 (3) o! the same Act.

    *That you Mohammed Bella Adoke sometime n September 2013 in Abuja did cause to be made a structured cash payment in 22 tranches of a sum of money totaling N80.000, 000.00 into your Unity Bank Plc Account No. 0020153263 which sums you knew is part of an unlawful act, to wit: the payment of an amount exceeding stated threshold amounts outside financial Institution, intending to conceal the origin o! The said funds, contrary to section 15(2 )(a) of the Money Laundering Prohibition Act 2011 as amended and punishable under section 15(3) of the same Act.

    Some of the counts against Aliyu read:

    *That you Aliyu Abubakar sometime between September 2013 to October 2013 in Abuja, disguised the origins of the total sum of $12.084.700.00 when you reasonably ought to have known that the funds formed part of an unlawful activity to wit: acceptance of an amount exceeding stated threshold amounts outside a financial institution, intending to conceal the origins of the said funds, and you thereby committed an offence contrary to section (15(2)(d) of the Money Laundering Prohibition Act 2011 (as amended) and punishable under section 15(3) of the same Act.

    *That you Aliyu Abubakar, sometime in September 2013 in Abuja, accepted a cash payment of the sum of $4,000,000.00 from Farsman Holdings Limited, through Abdulhakeem Uthman Mustapha, and you thereby committed an offence contrary to the combined effect of section 16(1)(d) and of section 1(a) of the Money Laundering Prohibition Act 2011 (as amended) and punishable under section 16(2)(b) of the same Act.

    *That you Aliyu Abubakar, sometime In October 2013, in Abuja, within the jurisdiction of this Honourable Court, accepted a cash payment of the sum of $3,000,000.00 from Farsman Holdings Limited. through Abdulhakeem Uthrnan Mustapha, and you thereby committed an offence contrary to the combined effect of section 16(1)(d) and of section 1(a) of the Money Laundering Prohibition Act 2011 (as amended) and punishable under section 16(2)(b) of the same Act.

  • N17.6bn money laundering: Court orders Diezani to appear for arraignment

    N17.6bn money laundering: Court orders Diezani to appear for arraignment

    The Federal High Court in Abuja on Friday ordered a former Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, to appear for arraignment on money laundering charges preferred against her by the Economic and Financial Crimes Commission.

    Justice Ijeoma Ojukwu gave the order in a ruling on an ex parte application shortly after it was moved by EFCC’s lawyer, Faruk Abdullah.

    The judge ordered the defendant who was alleged to have fled to the United Kingdom shortly after leaving office in 2015, to appear in court to answer to the 13 counts of money laundering involving $39.7m (N14.29bn at N360 to $1) and N3.32bn said to be proceeds of unlawful activities.

    Justice Ojukwu, in her ruling, ordered that the summons she issued on Friday should be published on the website of the EFCC and a national daily in a conspicuous manner.

    The judge adjourned the case till October 28 for the defendant’s arraignment.

    Due to Diezani’s absence, the judge had repeatedly adjourned the case, which was filed on November 11, 2018.

    On November 12, 2019, the judge gave EFCC till March 10, 2020 to have the ex-minister extradited from the United Kingdom to Nigeria to face trial or the charges against her would be struck out.

    The judge had said she would no longer allow the case to continue to clog her docket if no progress was being made.

    At the March 10, 2020 proceedings, the judge noted that from her records, EFCC had not taken any step in respect of the case to either serve the ex-minister or apply for the issuance of an arrest warrant against her since the case was filed in November 2018.

    She, however, backtracked on the threat to strike out the case after EFCC’s lawyer gave her an assurance that he would file an application for the court to issue criminal summons against the former minister.

    Abdullah said he did not find it necessary to apply for an arrest warrant against the former minister since a similar order of arrest had been issued against her by the late Justice Valentine Ashi of the High Court of the Federal Capital Territory in Abuja.

    He said the arrest warrant and the gratification charges filed before the late judge as well as the money laundering charges pending before Justice Ojukwu were filed as part of the extradition request sent to the UK authorities.

    Abdullah informed the judge that Diezani rebuffed attempts by Nigerian authorities to serve documents in connection with the case on her in the UK.

    He added, “We have submitted our extradition request to the UK authorities and we have done everything we needed to do.”

    He then informed the judge that he would file an application for criminal summons against Alison-Madueke as hinted by the judge.

  • Court fixes date for resumption of Mompha’s ‘N33bn laundering’ trial

    Court fixes date for resumption of Mompha’s ‘N33bn laundering’ trial

    A Federal High Court in Lagos on Wednesday fixed January 15, 2020 to resume the alleged N33bn money laundering trial of a suspected internet fraudster Ismaila Mustapha, alias Mompha.

    The new date was fixed at the instance of the defendant’s counsel, Mr Ademola Adefolaju who stood in for Mr. Gboyega Oyewole (SAN).

    Mompha was arraigned by the Economic and Financial Crimes Commission (EFCC) on November 25, 2019, following his arrest on October 19 at the Nnamdi Azikiwe International Airport, Abuja.

    He and his co-defendant, Ismalob Global Investments Ltd, pleaded not guilty to a 14 count-charge bordering on the offence and are out on bail.

    In the charge, the EFCC alleged that Mompha procured Ismalob Global Investment, owned by him, to retain the aggregate sum of N18.05billion between 2015 and 2019.

    He was also alleged to have aidedcompany to retain N14.9 billion between 2015 and 2017, while not complying with the Central Bank of Nigeria (CBN) and Federal Ministry of Trades and Investment financial transactions requirement.

    In another instance, the EFCC accused Mompha and his firm of unlawfully negotiating a Foreign Exchange transaction with total sum of N630, 125, 900 million, for some individuals.

    The offences, according to the commission, contravened Sections 18(c) and 15(2)(d) of the Money Laundering Prohibition Act, 2011 and punishable under Section 15 (3) of the same Act.

  • EFCC re-arraigns Atiku’s son-in-law, Abdullahi Babalele

    EFCC re-arraigns Atiku’s son-in-law, Abdullahi Babalele

    The Economic and Financial Crimes Commission (EFCC) Lagos Zonal office on Thursday re-arraigned one Abdullahi Babalele before Justice Chukwujekwu Aneke of the Federal High Court sitting in Ikoyi, Lagos on a two-count charge bordering on money laundering to the tune of $140,000.00.

    Babalele, a son-in-law to a former Vice President and Peoples Democratic Party( PDP) candidate in the 2019 presidential election, Atiku Abubakar, allegedly persuaded one Bashir Mohammed, a Bureau De Change( BDC) operator, to make a cash payment of the sum of $140,000 without going through any financial institution, an offence contrary to Section 18(c) of the Money Laundering (Prohibition) Act, 2011 as amended and punishable under Section 16(2)(b) of the same Act.

    One of the counts reads: “That you, Abdullahi Babalele, on or about the 20th day of February, 2019 in Nigeria, within the jurisdiction of this Honourable Court, procured Basir Mohammed to make a cash payment of the sum of $140,000.00 (One Hundred and Forty Thousand United States

    Dollars) without going through a financial institution, which sum exceeded the amount authorized by the Law and you thereby committed an offence contrary to Section 18(C) of the Money Laundering (Prohibition) Act, 2011 as amended and punishable under Section 16(2)(b) of the same Act.”

    The defendant pleaded not guilty to the charge preferred against him.

    In view of his plea, the prosecution counsel, Rotimi Oyedepo, informed the court of the existing bail earlier granted the defendant and applied for the commencement of the trial.

    “My Lord, one of our witnesses is present in court,” Oyedepo said.

    Counsel to the defendant, Mike Ozekhome, SAN, informed the court about an application before the court for the release of the international passport of the defendant.

    The defendant’s counsel also told the court that he had attached some medical reports showing that the defendant is ill and that “he will need to undergo treatment abroad.“ My Lord, the health issues are life- threatening.”

    Ozekhome, therefore, urged the court to grant the application and allow the defendant to travel abroad for three weeks.

    Oyedepo opposed the application and urged the court to go through the medical report.

    He pointed out that “there is no existing appointment made to see any doctors abroad.

    “The report shows that the defendant has no issue of trauma, diabetes, high blood pressure or otherwise.”.

    He, therefore, urged the court to refuse the application, saying there is no material evidence before the court to show that the defendant is in distress.

    Justice Aneke adjourned the case to October 11,2019 for ruling.

  • #RevolutionNow protest: FG charges Sowore with money laundering, treasonable felony

    The Federal Government on Friday charged the convener of #RevolutionNow protest, Omoyele Sowore, with treasonable felony and money laundering.

    Sowore, promoter of an online media platform – Sahara Reporters, who was also presidential candidate of African Action Congress (AAC) in the last presidential election, is charged along with Olawale Bakare, also known as Mandate, in a seven-count charge filed by the office of the Attornery General of the Federation.

    Sowore is currently being detained by the Department of State Services (DSS) upon an order of the Federal High Court, Abuja given on August 8, 2019, permitting the DSS to detain him for 45 days in the first instance, following the security agency’s claim that he was involved in acts of terrorism and plotted to topple the government; allegations he has since denied.

    The charge filed yesterday was signed on behalf of the Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), by Aminu Alilu, a Chief State Counsel in the Department of Public Prosecutions of the Federal Ministry of Justice.

    The two defendants are, in the charge, accused of committing conspiracy to commit treasonable felony in breach of section 516 of the Criminal Code Act by allegedly staging “a revolution campaign on September 5, 2019 aimed at removing the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria.”

    They are also alleged to have actually committed the offence of reasonable felony in breach of Section, 4(1)(c) of the Criminal Code Act, by using the platform of Coalition for Revolution, in August 2019 in Abuja, Lagos and other parts of Nigeria, to stagedthe #RevolutionNow protest allegedly aimed at removing the President.

    Sowore was, in the charge, accused of involvement in cybercrime offences in violation of section 24(1)(b) of the Cybercrimes (Prohibition, Prevention) Act, by “knowingly” sending “messages by means of press interview granted on Arise Television network, “which you knew to be false, for the purpose of causing insult, enmity, hatred and ill-will on the person of the President of the Federal Republic of Nigeria.”

    The state aso accused Sowore of money laundering offences in breach of section 15(1) of the Money Laundering (Prohibition) Act, 2011 by allegedly transferring by means of swift wire various sums of money from his United Bank of Africa Plc account with number 3002246104 into Sahara Reporters Media Foundation’s account with Guaranty Trust Bank in order to conceal the origin of the funds.

    He was alleged to have allegedly transfered $19,975 on April 2, 2019; $20,475 on May 21, 2019, $16,975 on June 27, 2019, and another $16,975 on July 16, 2019.

    Listed as exhibits to be relied upon by the prosection are Sowore’s written statement, transcripts of his statement, video recordings, audio recordings, statements of bank accounts, media publication and “any other exhibits the prosecution may later supply in its additional proof of evidence.”

    The prosecution also listed six specific witnesses to be called.

    They are Paul Clement, Moses Amadi, Cyril Odawn, Paul Okafor, UBA employee, GTB employee and “any other witness or witnesses to be supplied later in the additional proof of evidence.”

    The DSS arrested Sowore in Lagos on August 2, 2019, following his call for revolution in a protest he organised to take place in some major cities on August 5, 2019.

  • Alleged money laundering: EFCC re-arraigns Fayose, gets leave to travel abroad for treatment

    The Economic and Financial Crimes Commission (EFCC) on Tuesday re-arraigned former Ekiti State Governor Ayo Fayose for alleged money laundering.
    His trial will, in effect, start de novo (afresh) before Justice Chukwujekwu Aneke of the Federal High Court in Lagos.
    The court granted Fayose’s application for permission to travel to South Africa for medical treatment.
    The re-arraignment followed the re-assignment of the case to Justice Aneke after the EFCC said it no longer had confidence in Justice Mojisola Olatoregun, who was previously adjudicating on it.
    The case was re-assigned after 13 witnesses testified for the prosecution.
    Fayose was arraigned last October 22 on an 11-count charge of receiving and keeping N1.2billion and $5million allegedly stolen from the Office of National Security Adviser (ONSA).
    He was charged with his company, Spotless Limited.
    He pleaded not guilty to the same charge and was allowed to remain on the bail granted him by Justice Olatoregun.
    The prosecution opened its case last November 19, but the Chief Judge, Justice Adamu Abdu-Kafarati, transferred the case following EFCC’s petition against Justice Olatoregun.
    former Minister of State for Defence Senator Musiliu Obanikoro testified for the prosecution, stating that he collected N2.2billion from ONSA for Fayose.
    Tuesday, prosecuting counsel Adebisi Adeniyi, who stood in for Rotimi Jacobs (SAN), did not oppose an application by defence counsel Ola Olanipekun (SAN) that Fayose be allowed to remain on bail.
    Olanipekun also moved a motion seeking leave for Fayose to travel to South Africa for medical examination during the court’s long vacation scheduled to begin on Friday.
    The prosecution also did not oppose the application.
    Justice Aneke ruled: “I hereby grant the first defendant’s application for the temporary release of his international passport to enable him undertake a medical trip abroad.
    “The first defendant shall return the international passport to the court on or before September 16.”
    EFCC alleged that Fayose and an aide Abiodun Agbele took possession of N1.219billion from ONSA to fund his governorship campaign, knowing fund is proceed of “stealing”.
    The commission said he received $5million from ONSA without going through a financial institution, contrary to the Money Laundering Act.
    The prosecution said he placed N300million “proceed of stealing” in his fixed deposit account.
    It was also alleged that he deposited N317million in the account of Spotless Investment Limited, a company he and his family own.
    EFCC said Fayose lodged N305,760,000 in his account when he ought to know the money formed part of proceeds of an unlawful act.
    It added that the former governor procured De-Privateer Limited and Agbele to retain N719,490,000.00 in their accounts.
    EFCC said he acquired a property on Plot 1504, Yedsema Street, Maitama, Abuja from Rabi Kundili with illicit N270million.
    Fayose allegedly used N1,151,711,573 to acquire chalets 3 and 4, 6 and 9 on Plot 100 Tiamiyu Savage Street, Victoria Island, Lagos in the name of JJ Technical Service.
    EFCC said he used N200million to acquire a property on 44, Osun Crescent, Maitama, Abuja in the name of his elder sister, Moji Oladeji.
    It was further alleged that he used N270million to illegally acquire a property on Plot 1504 Yedseram Street, Maitama, Abuja in the name of Spotless Investment.
    Fayose allegedly procured Still Earth Limited to retain N132.5million in its account for his benefit, EFCC said.
    Fayose pleaded not guilty to all the counts.
    Justice Aneke adjourned until September 16 to 19 and October 21 to 25 for trial.

  • N6.9bn Laundering: Fayose’s re-arraignment stalled again

    The planned re-arraignment of the immediate past Governor of Ekiti State, Ayodele Fayose has been stalled again due to the absence of prosecuting counsel.

    Fayose was supposed to be re-arraigned today at the Federal High Court in Lagos, but the arraignment has been stalled.

    The former governor is being prosecuted by the Economic and Financial Crimes Commission, EFCC, over alleged N6.9 billion laundering.

    Details later…

  • DNFIs safe havens for money laundering – Magu

    Acting Chairman of Economic and Financial Crimes Commission (EFCC), Mr Ibrahim Magu, has described Designated Non-Financial Institutions (DNFIs) as safe havens for money-laundering activities.

    The commission’s spokesman, Mr Tony Orilade, said in a statement in Abuja on Friday, that Magu stated this at a workshop to sensitise Non-Profit Organisations (NPOs).

    The workshop, organised by EFCC in collaboration with Space for Change, had “Effective Implementation and Regulations of AML/CFT within the NPO Sector” as theme.

    Magu was represented by Director, Special Control against Money Laundering Unit of the commission, Mr Francis Usani.

    According to him, as a result of lack of adequate supervision and regulation of NPOs and by extension DNFIs, criminals have now turned their focus on the DNFIs sector to perpetrate money-laundering and terrorism financing.

    He said that the vulnerability of DFNIs in developed and developing economies to the scourge of money laundering and terrorism financing had encouraged the perpetuation of the vice.

    “Money-laundering and terrorism-financing will continue to thrive, especially with criminals continuously discovering new methods of exploiting the vulnerability of DFNIs and the legal systems.

    “The DNFIs have been identified as the most vulnerable sector in money-laundering and terrorism-financing because criminals no longer use the conventional financial systems like banks, to launder their ill-gotten wealth” he said.

    The acting chairman urged non-profit organisations to be conscious of their obligations and responsibilities under the Nigerian AML/CFT regime and develop a culture of compliance with its measures.

    Executive Director, Space for Change, Mrs Victoria Ohaeri, posited that non-profit organisations believed that compliance to money-laundering/terrorism-financing was important to their work, and “to the entire sector and for the betterment of the country.”

    “Civil Society Organisations are a major ally of the government in the fight against money-laundering and terrorism-financing.

    “We are willing to cooperate, comply, engage and at the same time we are also concerned about the space which we operate, in ensuring that due compliance is done without adding additional burden in the work we do.”

  • EFCC warns bankers against money laundering, terrorist financing

    Mr Ibrahim Magu, Acting Chairman, Economic and Financial Crimes Commission (EFCC), has cautioned bank officials in the country against aiding money laundering and terrorist financing.

    Magu gave the warning in a statement by EFFC Spokesman, Mr Tony Orilade on Tuesday in Abuja.

    Orilade quoted Magu as giving the warning at an interactive session with Chief Compliance Officers of banks in Maiduguri, the Borno capital.

    The EFFC chairman urged bankers to ensure strict compliance with the Money Laundering Act.

    According to him, bankers must endeavour to report to the anti-graft agency, cash movements that fall above the allowed threshold.

    “Nobody should carry cash above the threshold of above N 10 million for corporate organisations and N5 million for individuals

    “Anything above the threshold must be routed through financial institutions,” he said.

    He further said that the issue of money laundering, terrorist financing and leakage of information would be eliminated by the commission with the help of bankers across the country.

    Magu said the EFCC would soon commence the profiling of Non-governmental Oragnisations (NGOs) in the North-East with a view to monitoring their financial activities.

    “We must profile all the NGOs in the North-East, I don’t know why an NGO will open more than 40 bank accounts.

    “We are going to ask your various banks to give us statements of accounts for each and every NGO,” he said.