The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) has arraigned four individuals before the Federal High Court in Ikoyi, Lagos, over an alleged money laundering scheme involving a total of $5,296,691.
The defendants, Bamidele Ayodele Emmanuel, Abdullah Oriyomi, Garuba Fathiat Funmilayo and Gbenro Victor Ademola, appeared before Justice F. N. Ogazi on separate two-count charges bordering on money laundering, contrary to the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
One of the charges against Bamidele Ayodele Emmanuel alleged that he retained $826,691 in his Wema Bank account between January 1 and January 31, 2025, despite allegedly knowing, or having reasonable grounds to suspect, that the funds were proceeds of unlawful activities.
The charge reads:
“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 (Eight Hundred and Twenty-Six Thousand, Six Hundred and Ninety-One United States Dollars) 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.”
All four defendants pleaded guilty when the charges were read to them.
Following the guilty pleas, prosecution counsel Bilkisu Buhari presented the facts of the case, telling the court that investigations revealed the defendants voluntarily handed over their personal information to one Afeez Animashaun, who allegedly approached them at Mushin Market, where they carried out their businesses.
According to the prosecution, the personal details supplied by the defendants were used to register several companies, including College Compass Eduguide Nigeria Limited, Hortifresh Solutions Nigeria Limited, Eduboost Innovation Nigeria Limited and Fixit Hardware and Tools Nigeria Limited.
Buhari further informed the court that corporate bank accounts were opened in the names of the companies and received millions of dollars within January 2025.
She argued that the defendants’ actions concealed the identities of the real operators of the companies and enabled suspicious funds to pass through the Nigerian financial system.
The prosecution urged the court to convict the defendants based on their guilty pleas and impose appropriate penalties.
After hearing the submissions, Justice Ogazi ordered that the defendants be remanded in a correctional facility and adjourned the matter until August 4, 2026, for judgment.
