EFCC arraigns two men for N2.8 billion money laundering
The Economic and Financial Crimes Commission (EFCC) has arraigned two men, Akeem Adekunle and Kayode Olusola-Ayodeji, in the Ikeja Special Offences Court over alleged N2.8 billion money laundering.
The defendants were on Monday arraigned on a three-count charge bordering on the laundering of funds and conspiracy to launder funds obtained through unlawful activity.
The duo, however, pleaded not guilty to the charge.
Following their not-guilty plea, the EFCC counsel, Suleiman Suleiman, prayed to the court for a trial date and to remand the defendants to correctional facilities.
Counsel to the first defendant, Grace Adenubi, however, prayed for a standdown of the case so that she could file a bail application, which the court ignored.
The second defence counsel, Catherine Nwagbara, had no formal bail application before the court.
Ms Nwagbara also prayed for a short date to file a bail application for her client.
The commission told the court that the defendants, with another still at large, conspired to commit a felony.
EFCC said the duo transferred property derived from an illegal act to the tune of N2.8 billion from the unlawful activity of one Afolabi Sunday, with the aim of disguising the illegal origin of the same.
The prosecution submitted that the first defendant engaged Esther Titilayo to open a bank account purportedly to advance the interests of Mr Sunday (commonly known as ‘Asiwaju Something’) in the commission of unlawful activities, namely theft.
The EFCC counsel alleged that the second defendant engaged one Joseph Adegboye to open a bank account to promote Mr Sunday by carrying out unlawful activity, including stealing.
According to him, the defendants committed the offences in Lagos between June and October 4, 2023.
The prosecutor said the alleged offences contravened sections 7 and 8 of the Advance Fee Fraud and Other Fraud Related Offence Act, 2006.
Justice Ismail Ijelu, thereafter, ordered that the defendants be remanded at a correctional facility pending a bail application hearing.
Mr Ijelu, however, adjourned the case until May 6 for the commencement of trial.
(NAN)
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