EFCC ARRAIGNS FOUR OVER ALLEGED $5.29M MONEY LAUNDERING IN LAGOS

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By Aishat Momoh. O.

The Economic and Financial Crimes Commission (EFCC) has arraigned four persons before the Federal High Court in Ikoyi, Lagos, over an alleged $5.29 million money laundering scheme.

The defendants Bamidele Ayodele Emmanuel, Abdullah Oriyomi, Garuba Fathiat Funmilayo and Gbenro Victor Ademola — were separately arraigned before Justice F. N. Ogazi on two-count charges bordering on money laundering, contrary to the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.

According to a statement shared by the anti-graft agency on its X handle on Thursday, the defendants pleaded guilty to the charges after they were read in court.

One of the charges alleged that Emmanuel retained $826,691 in his Wema Bank account between January 1 and 31, 2025, despite allegedly knowing that the funds were proceeds of unlawful activities.

The charge read in part: “That you, Bamidele Ayodele Emmanuel, between 1 and 31st January, 2025, in Lagos and within the jurisdiction of this Honourable Court, directly retained the sum of $826,691 in your account, No. 0126008755 domiciled in Wema Bank, which you reasonably ought to have known forms part of the proceeds of an unlawful act, and you thereby committed an offence contrary to and punishable under Section 18 of the Money Laundering (Prevention and Prohibition) Act, 2022.”

Following the defendants’ guilty pleas, prosecution counsel, Bilkisu Buhari, reviewed the facts of the case before the court.

She told the court that investigations revealed that the defendants admitted providing their personal information to one Afeez Animashaun, who allegedly approached them at Mushin Market, Lagos, where they conducted their businesses.

According to the prosecution, the defendants’ identities were subsequently used to incorporate several companies, including College Compass Eduguide Nigeria Limited, Hortifresh Solutions Nigeria Limited, Eduboost Innovation Nigeria Limited and Fixit Hardware and Tools Nigeria Limited.

The EFCC alleged that corporate bank accounts were opened in the names of the companies and used to receive millions of dollars within January 2025.

The prosecution further told the court that the defendants’ actions concealed the identities of the actual operators of the companies and facilitated the movement of suspicious funds through Nigeria’s financial system.

Buhari urged the court to convict the defendants and impose appropriate penalties in line with the provisions of the law.

Justice Ogazi ordered that the defendants be remanded in a correctional facility and adjourned the matter until August 4, 2026, for judgment.