COURT GRANTS FEMALE EXECUTIVE ₦200M BAIL IN ALLEGED $600,000 MONEY LAUNDERING CASE

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By; Sunmola Ganiyat

The Enugu Zonal Directorate of the Economic and Financial Crimes Commission has arraigned the Group Managing Director of Brass Engineering and Construction Nigeria Limited, Egwuche Chinyere Gladys, over an alleged $600,000 money laundering offence.

Gladys and her company were arraigned before Justice F. O. Giwa-Ogunbanjo of the Federal High Court, Enugu, on a 12-count charge bordering on alleged violations of the Money Laundering (Prevention and Prohibition) Act, 2022.

According to the EFCC, the defendant allegedly received cash payments of $50,000 on 12 occasions between March 13 and April 11, 2023, amounting to a total of $600,000, without routing the transactions through a financial institution as required by law.

The anti-graft agency said the funds were part payment for a 180220TPH Granite Stone Crushing Line sold by Brass Engineering and Construction Nigeria Limited to Patan Nigeria Limited and Reinforce Global Resources Limited under a joint venture arrangement.

One of the charges alleged that the cash transaction exceeded the statutory threshold and was conducted outside the formal banking system, contrary to provisions of the Money Laundering Act.

Gladys pleaded not guilty to all the charges.

Following her plea, EFCC counsel, Rotimi Enitan Ajobiewe, requested a trial date and urged the court to remand the defendant in the custody of the Nigerian Correctional Service pending trial.

However, defence counsel, Roy O. U. Nwaeze (SAN), urged the court to consider a pending bail application on behalf of his client.

In his ruling, Justice Giwa-Ogunbanjo granted the defendant bail in the sum of ₦200 million with two sureties in like amount.

The court directed that each surety must own landed property within the court’s jurisdiction and ordered Gladys to surrender her international passport to the court registrar.

The judge also instructed the EFCC to verify the addresses of the sureties within seven days.

The matter was subsequently adjourned until November 11, 2026, for the commencement of trial.