Six arraigned for N148 million fraud

Economic and Financial Crimes Commission (EFCC)
Economic and Financial Crimes Commission (EFCC)

A federal High Court in Lagos has ordered that 6 men be remanded in the custody of the Economic and Financial Crimes Commission (EFCC) after standing trial for N148m fraud.

The EFCC charged the six men alongside a company on Tuesday before a Federal High Court in Lagos over alleged N148 million fraud.

They were, however, remanded in EFCC custody pending their bail applications.

The accused are identified as; Alimi Haruna, Momouda Mohammed, Shittu Muideen, Akpojaro Amos, Joga Yusuf, Duru Patrick, and Ashmina Oil and Gas Ltd.

The suspects are all standing trial before Justice Babs Kuewumi on charges of conspiracy, money laundering, unlawful retaining of crime proceeds, obtaining huge amount of money without going through financial institution and obtaining money under false pretences.

They defendants all pleaded not guilty to the charges.

After entering their pleas, the prosecuting counsel, Mr. Ekene Iheanacho, asked the court for a trial date and urged the court to remand the accused in prison.

Responding, the three lawyers for the defence counsel, Messers Musa Hussain, O.K. Salawu and A.I. Unegbu informed the court of the pending respective bail applications for the accused.

Iheanacho however told the court that the prosecution was still within time to respond to the bail applications.

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In his ruling, Justice Kuewumi, adjourned the case until Nov.5 for hearing of the bail applications and remanded the accused in the EFCC custody pending bails.

According to the counsel for the prosecution, the accused committed the offences sometime in May 2017 in Lagos State.

He said the accused conspired to disguise the origin of the sum of N148.3 million which were proceeds of unlawful activities.

He told the court that the first accused and his company retained the said sum in their accounts knowing same to be proceeds of unlawful activities.

According to the prosecution, the accused made cash payment of N68 million to Dublin Energy Ltd without going through any financial institution, contrary to the Money Laundering Act.

The offences contravened the provisions of Sections 1 (a), 15 (2) (d), 16 (2) and 18 of the Money Laundering (Prohibition) Act 2011 as amended by Act No. 1 of 2012.

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