The Economic and Financial Crimes Commission (EFCC) yesterday arraigned six men and a company at the Federal High Court in Lagos for alleged N148.3 million fraud.
Alimi Haruna, Momouda Mohammed, Shittu Muideen, Akpojaro Amos, Joga Yusuf, Duru Patrick and Ashmina Oil and Gas Ltd were arraigned before Justice Babs Kuewumi.
They were charged with conspiracy, money laundering, unlawfully retaining of proceeds of illicit act, obtaining huge amount of money without going through financial institution and obtaining under false pretence.
Prosecuting counsel Mr. Ekene Iheanacho said the alleged offence contravenes sections 18, 15(2)(d) and 1(a) and punishable under sections 15(3) and 16(2) of the Money Laundering Prohibition Act 2011.
The defendants allegedly committed the offence last May in Lagos.
The prosecutor said they conspired to disguise the origin of the money, which were proceeds of unlawful activities.
Haruna, his company, Ashmina Oil and Gas, and Okey Onyejiaka and Dublin Energy Ltd allegedly retained the sum in their United Bank for Africa (UBA) and First City Monument Bank (FCMB) accounts knowing that the money was proceeds of unlawful activity.
EFCC told the court that Haruna made cash payment of N68.1 million to Dublin Energy without going through a financial institution.
The defendants pleaded not guilty.
Justice Kuewumi adjourned till November 5 for hearing of their bail applications.
He ordered that they be remanded in prison until then.