The Nation Newspaper

Tag: EFCC

  • Bank claims ownership of Ikoyi flat where N13bn was discovered

    Bank claims ownership of Ikoyi flat where N13bn was discovered

    Union Bank of Nigeria Plc has claimed ownership of Flat 7B in Osborne Towers, Ikoyi, where huge cash was found earlier this year.

    The money which has been forfeited to the Federal Government on June 6, included 43,449,947 (about N13 billion), N23, 218,000 and £27,800 (about N10.6 million).

    In its pending application, the bank is praying the Federal High Court in Lagos to vacate an interim order forfeiting the flat to the federal government.

    The Economic and Financial Crimes Commission (EFCC) had accused a former Director-General of the National Intelligence Agency (NIA), Ayodele Oke, of fraudulently converting the agency’s funds.

    It alleged that Oke’s wife, Folasade, used part of the funds to buy the flat.

    The court, on November 9, ordered the flat’s temporary forfeiture to the federal government.

    Justice Saliu Saidu ruled that it would bepermanently forfeited if no one turned up to justify ownership within 14 days.

    Union Bank’s lawyer, Chief Ajibola Aribisala (SAN), said on Thursday he filed an application seeking to vacate the interim forfeiture order.

    In a supporting affidavit, the bank said the flat was part of 16, Osborne Road, Ikoyi, belonging to the former National Chairman of the Peoples Democratic Party (PDP), Alhaji Adamu Mu’azu.

    It said the property was covered by a Certificate of Occupancy dated September 27, 2009 and registered as 97/97/2009 in the Lands Registry Office, Alausa, Ikeja, Lagos.

    According to the bank, Alhaji Mu’azu mortgaged the property to it by virtue of Tripartite Deed of Legal Mortgage dated November 1, 2011.

    Union Bank said the property was a security for a loan granted to Tripple A Properties & Investment Limited.

    The bank further claimed that the property’s original titled deed had been vested in it (the bank).

    Besides, it said the loan was yet to be liquidated despite its tenor expiring.

    The bank claimed it sold the property to Chobe Ventures Limited to liquidate the loan.

    EFCC, in its counter affidavit, argued that the bank lacks the locus standi to challenge the forfeiture.

  • Court orders EFCC to freeze firms’ accounts

    Court orders EFCC to freeze firms’ accounts

    The Federal High Court in Lagos on Thursday ordered the freezing of 23 bank accounts belonging to companies who are being investigated for alleged fraud.

    Justice Chuka Obiozor made the order based on an application filed by the Economic and Financial Crimes Commission (EFCC).

    EFCC’s lawyer, Mr. Murtala Usman, said accounts are in eight banks.

    Wale Adekunle, Tosin Affinnih, Edward Williams and Olayinka Loveth are the respondents.

    The affected companies are – Atlantic Finaplux Limited, Manhattan Corporate Essential Limited, Jodaf Investment Limited, Frenolen International Limited, Medlams Global Services, Tankarawa Bureau De Change, Self Reliance Advancement Programs and Desmie Medical Services.

    Others are – Calculus and Company, Mass Investment Fund, Limited, Domareen Global Services Limited, Mayiwa Williams Samuel, Sodipo Oludare, Soyode Akinlanwon, and Buchi and Seyi Obiefuna.

    The EFCC sought an order empowering its Executive Chairman or any other officer to instruct the banks’ managing directors to freeze the accounts pending the conclusion of investigation.

    After granting the application, the judge ordered the EFCC to publish the order in two national newspapers for anyone who may have interest in the accounts to show cause as to why the order should not made absolute.

    According to EFCC investigator, Boniface Uzoechi, on July 6, the Commission received a petition from S. D. Ijie and Associates on behalf of Equitorial Energy Limited alleging fraud and stealing to the tune of N175.3 million.

    The deponent said the complainant alleged that sometime in January, his account officer in Skye Bank Plc, Adekunle (the first respondent), approached him with Affinnih (the second respondent) claiming that they had a customer who could sell dollars to the complainant.

    EFCC said the complainant alleged that N175.3 million was transferred to various accounts, and that the dollar equivalent was allegedly not remitted.

    Justice Obiozor adjourned the matter till December 15.

     

     

  • Maina was not on government payroll- Adeosun

    Maina was not on government payroll- Adeosun

    …Maina’s lawyer insists on out of court settlement

     

    The Minister of Finance, Kemi Adeosun and the Accountant General of the Federation (AoGF), Ahmed Idris said Maina was not on the payroll of the Federal Government.

    The two said records on the two payment platforms used by the government for its workers have been scrutinised and Maina was found to have been paid last in February 2013.

    “We used two platforms for salaries and no trace of payment to Maina. His last payment was in February 2013.

    “We don’t have his biodata on our payroll anymore and made no payment to him. He is also not a staff on Finance Ministry,” Adeosun said

    The Comptroller General (CG) of the Nigerian Immigration Service ( NIS ), Mohammed Babandede said since Maina was stopped at Murtala Mohammed International Airport (MMIA) in September 2013, he has not been seen again using Nigerian ports.

    He also disclosed that Maina has dual citizenship with three passports, valid standard Nigerian passport that expires in 2018, United States’ (US) that expires in 2022 and an official passport that has expired.

    He said Maina was placed on NIS stop list which was why he was stopped in 2013 but that in December 2015, the EFCC directed he be removed from stop list.

    “According to official documents he has not been travelling since 2013,” he said.

    Acting Economic and Financial Crimes Commission (EFCC) chairman, Idris Magu denied the letter vacating the stop order, saying he has never seen it in his life, just as he has never met Maina before.

    He said the source of the letter will be investigated because he assumed office in November 2015 while the stop order vacation letter was written in December same year.

    He told the Committee that investigation of pension began in 2010 but that his Commission had no collaboration with the Maina’s team, except for a biometric exercise.

    “He did not hand over a single recovered asset to EFCC, and if there is no asset he handed over to, how could there be assets to share?

    He said: “I challenge him or anyone to prove that we shared recovered assets. Those claiming such should come forward to prove it.

    “All recovered assets at EFCC are products of our independent investigations and they were Police pension and HoCSF.

    “From Police pension eight people and associated companies were investigation while HoSC has five and associated companies investigated.

    “All assets recovered from HoCSF on interim forfeiture have been handed over while some are used as offices.

    “It is only the asset of one Yusuf that has been convicted that’s been permanently forfeited and they are 32 in number.

    “All proceeds on the forfeited assets as rents are duly documented

    “Maina’s assets that we recovered were seven in Kaduna, five in Abuja- two in Kado, two in Life camp and a sprawling one in Jabi”.

    He said EFCC is investigating four companies used by Maina with six bank accounts that have N2.7b from 2008 to 2013.

    According to him, one of Maina’s son account that has
    N1.5b turnover within a year was also uncovered.

    He said Maina used cash converted to forex exchange for transactions most of the time, adding that he paid $2m cash for the Jabi house.

    He said having declared Maina wanted, the Interpol has been alerted for his arrest.

    The Director General ( DG ) of the Department of State Services (DSS), Mamman Daura said he was notified of the Dubai meeting between Maina and the AGF with the National Security Adviser’s (NSA) , Babagana Monguno in attendance.

    He however heaped the blame of the Maina saga on lack of interagency collaboration and information sharing.

    However, when Chairman of the Committee was set to round up the hearing, Maina’s lawyer, Sani Katu protested that he has been denied fair hearing.

    “We must be heard, that is what they did to us in the Senate, they boxed us into a corner, we must be heard,” he shouted.

    Madaki said no one would be denied to speak, saying the Committee would not allow rented crowd to disrupt it’s activities.

    Katu then reiterated the fact that Miana was reinstated by the Court judgement that vacated his arrest order, that the status quo should remain.

    He insisted that Maina is still on the payroll of the government going by the court pronouncement and should be be paid his emoluments.

    He said Maina should not have been dismissed from service going by the pronouncement of the court

    He also said out of court settlement was reached by the two parties where it was agreed that Maina would be reinstated while he will drop the N2.1b claim he asked for in the suit.

    He said:”The Court reinstated him which means he should revert to his status and his emoluments paid to him

    “There is a judgment from the Federal High Court that sets aside the Warrant of Arrest, that sets aside the warrant of arrest which led to his query and subsequent dismissal.

    “So our position that having set aside all those queries and dismissal, it means Mr. Abdulrasheed Maina should revert back to his earlier status and what is that earlier status?

    “The status is that, before he was dismissed, he was a civil servant and being a civil servant, the question can as well be raised if he is entitled to salary and the answer is yes, that as a federal civil servant, he entitled to his salary.

    “At one point, efforts were made to calculate his salaries from March 2013 till date, perhaps if not for what has happened now, they would have paid him salary in October.

    “So, we are talking on the premise of the dictates of the law and the law is made up facts and the facts are contained in the judgement of the Federal High Court,” he said.

    While adjourning the hearing indefinitely (sine die), Madaki warned that it was the duty of the House to prevent impunity in government.

  • DisCos, EFCC, others collaborate to fight corruption

    DisCos, EFCC, others collaborate to fight corruption

    The Association of Nigerian Electricity Distributors (ANED), the Economic and Financial Crimes Commission (EFCC), the police and other security agencies, are collaborating to rid the power sector of corrupt officials.

    ANED’s Executive Director, Research and Development, Mr Sunday Oduntan, said the issue had reached an advanced stage, as many workers have been investigated for bribery, stealing, extortion of innocent consumers among other untoward practices, by a highly constituted team set up by the association.

    He said workers that were involved in criminal activities were sacked by their respective DisCos, after they were found guilty.

    Oduntan said: ‘’ Some workers  of the Ibadan Electricity Distribution Company(IBEDC) and other power distribution companies, who are found guilty of grievious offences such as stealing of electricity facilities or money, have been handed over to EFFC for investigation. Also, they have been forced out of the system by their employers. Many of such people would follow suit very soon. The exercise is taking place across the country, as part of efforts to sanitise the sector. We at ANED frown at such practices and have vowed to put a stop to them, hence our decision to set up a team of people that are investigating criminal issues involving workers of the DisCos. The anti-graft agency is complementing our investigation by making the investigation more effective and stronger.”

    According to him, ANED, which is the umbrella body of all the 11 distribution companies is on top of the game, as it gets hints on where such illegal activities are taking place and promptly follow it up, with a view to ensuring justice.

    “If any member of the consuming public is extorted by any of the officials of the DisCos, we would get necessary information on the officials involved, we would report him or her to the DisCo that has employed her. The DisCo in return would carry out its own due diligence on the issue in order to find out whether the allegation levelled on such person(s) are founded or not. We work as a team, as we do not leave any area untouched in our investigation,” he added.

    ANED,  Oduntan said, has visited Abuja, Plateau and other parts of the country, with a view to monitoring the activities of the officials and get reports on their conduct for necessary action.

    He said the issue of sanitising the sector must start in the house first, before it is moved to institutions outside that are aiding corruption, by conniving with workers.

    He said, based on this, the 11 DisCos agreed to rid themselves of unscrupulous workers.

    On debts, Oduntan said the debts owed the power firms by the Ministries, Departments and Agencies (MDAs) are huge, adding that failure of the MDAs to pay back their debts that have accumulated over the years, is a problem in the sector.

    He explained that the inability of the firms to meet their obligations to customers, by supplying them electricity regularly, meters, and other equipment, was a result of the debts.

    The DisCos, he said, were lacking funds to operate, stressing that the issue is telling on their performance.He said this is in addition to the  fact that  power generation is decreasing in the country.

    He said, if the power generation companies (GenCos) produce  enough electricity for the use of the DisCos, the DisCos still need to get funds to procure modern facilities for operation.

    The DisCos need money to replace obsolete equipment with new ones, in order to record optimal level he said.

  • Saraki blames EFCC, others for FG’s inability to retrieve looted funds

    Saraki blames EFCC, others for FG’s inability to retrieve looted funds

    Senate President, Bukola Saraki, on Tuesday blamed the Economic and Financial Crimes Commission (EFCC) and other anti-graft agencies for Nigeria’s inability to convince other countries to return looted funds back to the country.

    Saraki, who spoke at a one day strategic retreat on tackling the progress of Anti-corruption Bills in National Assembly, noted that many recovered assets were cornered by officials of anti-corruption agencies in the country.

    The Senate President, who was represented at the event by the Deputy Senate Leader, Senator Bala Ibn Na’Allah, said “Nigeria is finding it difficult to convince other nations to return funds looted from our treasury because of other nations’ exasperation over the management of returned assets.”

    He said: “Only recently, Mr. President inaugurated a committee to audit all assets recovered by various government agencies.

    “The National Assembly has been strident about the opacity shrouding the management of recovered funds, which in many cases get reported by the agencies that investigated and recovered them.

    “An ad-hoc committee of the Senate, which is investigating some administrative infraction in the executive has discovered that many properties recovered from fugitive from the law, have not been accounted for by the investigating agency.  This gives global community great concern about the commitment of Nigeria to the anti-corruption drive.”

    The Chairman of Senate committee on Anti-Corruption, Senator Chukwuka Utazi, in his opening remarks stated that Nigeria’s struggle against entrenched corruption is a global concern.

    The Enugu North lawmaker expressed dissatisfaction with the suspension of Nigeria from the Egmont Group of Financial Intelligence Units especially at a time Nigeria has made anti-corruption a cardinal policy of government.

    Utazi noted that there is no doubt that the suspension greatly impedes the fight against corruption in Nigeria.

  • Belgore, Suleiman, re-arraigned for money laundering

    Belgore, Suleiman, re-arraigned for money laundering

    The Economic and Financial Crimes Commission (EFCC) on Tuesday re-arraigned a Senior Advocate of Nigeria (SAN), Mr. Dele Belgore and the former Minister of National Planning, Prof. Abubakar Suleiman, for alleged money laundering.

    The anti-graft agency also closed its case.

    The defendants told Justice Rilwan Aikawa of the Federal High Court in Lagos of their intention to file no case submissions on the matter.

    In effect, they intend not to call any witness to defend themselves because they believe the prosecution did not present a strong case against them.

    The judge, however, can dismiss the submissions and direct them to open their defence.

    Former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, is also named in the charge.

    EFCC said she is “at large.”

    In the nine-count amended charge, EFCC accused Mrs. Alison-Madueke, Belgore and Suleiman of making cash payment of N10million to a Resident Electoral Commissioner (REC), Dr. Emmanuel Onucheyo.

    The Commission said they also paid N10million to a Commissioner of Police, Garba Saliu.

    EFCC also alleged that the defendants “directly took possession of the sum N450million,” adding that they “reasonably ought to have known [that the money] forms part of the proceeds of unlawful act.”

    They pleaded not guilty to the second amended charge.

    READ ALSO: EFCC recovers N738b in two years

    Prosecuting counsel, Rotimi Oyedepo, said he had no more witnesses to call.

    Two witnesses testified in the trial which began on February 8.

    EFCC also tended several documents, including those showing how the N450m allegedly received from Mrs. Alison-Madueke was “shared.”

    Also tended is a receipt which they allegedly signed to acknowledge receiving the money.

    Defence counsel, Mr. Ebun Shofunde (SAN) and Olatunji Ayanlaja (SAN), indicated that they would file no-case submissions on their clients’ behalf.

    .

  • Falana to AGF: substantiate allegation of property sale by EFCC to me

    Falana to AGF: substantiate allegation of property sale by EFCC to me

    LAGOS lawyer Femi Falana, SAN has challenged the Attorney-General of the Federation, Mr. Abubakar Malami, SAN, to substantiate his allegation that the Economic and Financial Crimes Commission (EFCC) allocated or sold a property to him.

    Falana, in a statement yesterday, said the allegation that the EFCC sold  the property at No 42, Gana Street, Maitama District, Abuja or any property to him “is a figment” of Malami’s “fecund imagination for mischief”.

    The human rights activist said “instead of engaging in a cheap campaign of blackmail”, Malami should have taken steps to tell the court what he knew about the property or recover the alleged N1 billion property for the Federal Government.

    The statement reads: “When the news of the scandalous recall, reinstatement, promotion, deployment and payment of the arrears of salaries and allowances of a fugitive from the law, Mr. Abdulrasheed Maina, broke out last month, I joined other well-meaning Nigerians in calling on President Muhammadu Buhari to sanction the members of his administration, who had exposed the nation to ridicule.

    “Shortly thereafter, the President ordered Mr. Maina’s removal from the public service and directed that an inquiry be conducted into the matter. Aggrieved by my intervention in the shameful episode, the fugitive and his cohorts have attempted, albeit unsuccessfully,  to link me with  the criminal diversion of one of the properties purportedly  recovered by the Presidential Task Force on Pension Reform.

    “According to The Nation newspaper of November 24, 2017, Mr. Maina’s official new legal adviser and Attorney-General of the Federation, Mr. Abubakar Malami,  SAN ‘mentioned a property at 42, Gana Street, Maitama District, Abuja, which he claimed is worth N1 billion. He said it was allocated to a Lagos lawyer’.

    “Even though Mr. Malami did not mention my name, The Nation newspaper had reported that Mr. Maina had linked me with the property. Hence, I have decided to join issues with Mr. Malami over his false claim that the EFCC had sold the property in question to me.”

    The human rights lawyer added: “Contrary to Mr. Malami’s claim, I never bought any property from the Economic and Financial Crimes Commission (EFCC). If Mr. Malami had conducted a search on the property in question, he would have found that it was one of the assets used to  collaterise  a loan obtained from Bank PHB by A Group Properties over 10 years ago. He would also have found that the property is a subject matter of a suit which is currently pending before the Federal High Court sitting at Abuja. (See Suit No /2015 between Assets Management Corporation of Nigeria v A Group Properties Limited).

    “The suit was instituted by AMCON due to the failure of the company to liquidate the loan. In granting the ex parte application filed by AMCON in the matter, the court ordered an  interim forfeiture  of the assets  of A Group Properties Limited, including No 42, Gana Street, Maitama District, Abuja. The said order was granted on November 11, 2015.

    “However, in a bid to pay the loan, A Group Properties Limited decided to sell some of the properties. The sale of the property in question to me was made subject to the setting aside of the order of interim forfeiture which had been obtained by AMCON. Up till now, the case has not been concluded as the parties have asked for time to resolve the dispute amicably and file terms of settlement.

    “To that extent, the transaction on the property remains inchoate. Although the said order of interim forfeiture was granted in favour of AMCON over two years ago, Mr. Malami has not deemed it fit to disclose to the Federal High Court that the property at 42, Gana Street, Maitama District, Abuja was recovered by the Presidential Task Force on Pension Reform.”

    Falana said: “Having regard to the facts and circumstances of this case, Mr. Maina’s allegation that the management of the Economic and Financial Crimes Commission  sold  the property at No 42, Gana Street, Maitama District, Abuja or any property to me is a figment of his fecund imagination for mischief. Since the Attorney General of the Federation, Mr. Malami SAN has apparently swallowed hook, line and sinker, the cock and bull story of Mr. Maina,  a fugitive from the law of the Republic, I am compelled to challenge him  to substantiate his mendacious allegation that the Economic and Financial Crimes Commission had allocated or sold the property in question or any other property to me. Instead of engaging in a cheap campaign of blackmail, Mr. Malami SAN should have taken steps to recover the alleged N1 billion property  for the Federal Government,  if he  is convinced that it is a proceed of crime.

    “However, since the order of the interim forfeiture of the property at No 42, Gana Street, Maitama District, Abuja, which was granted by the Federal High Court has not been vacated or quashed, the property is still vested in AMCON. Incidentally, the granting of the order was well reported by the Nigerian press at the material time.  See the report in THISDAY newspaper in www.thisdaylive.com/index.php/2016/04/03/amcon-goes-after-debtors.”

     

  • EFCC arraigns Gambian, Senegalese for alleged illegal oil bunkering

    EFCC arraigns Gambian, Senegalese for alleged illegal oil bunkering

    THE Economic and Financial Crimes Commission (EFCC) yesterday arraigned a Gambian, Baboucar Jallow and a Senegalese, Ndiaga Ba, for allegedly dealing in 300 metric tonnes of diesel without licence.

    They were charged before Justice Mohammed Idris of the Federal High Court in Lagos.

    A Nigerian, Abel Bassey, a vessel, MT Wolof and a firm, Japcco Limited, are the other defendants.

    The EFCC, in the two-count charge, said the defendants conspired to unlawfully deal in petroleum products.

    The alleged offence contravenes Section 3(6) of the Miscellaneous Offences Act of 2004 and punishable under Section 1(17).

    The defendants pleaded not guilty.

    Defence counsel Adegboyega Adetunji urged the court to grant the suspects bail.

    But, prosecuting counsel Ekene Iheanacho urged court to refuse the bail application.

    Justice Idris rejected the bail application and ordered that the defendants be kept in prison until the trial ends.

    “I have read all the processes filed in this case and the submission of counsel on both sides. I cannot find my way clear in granting this application for bail.

    “There is no evidence that the defendants are resident within the jurisdiction of this court.

    “Therefore, bail is refused. Accelerated hearing of this case is hereby ordered,” the judge ruled.

    Justice Idris adjourned till December 13 for trial.

     

     

  • EFCC arraigns Gambian, Senegalese for illegal oil bunkering

    EFCC arraigns Gambian, Senegalese for illegal oil bunkering

    The Economic and Financial Crimes Commission ( EFCC ) on Monday arraigned a Gambian, Baboucar Jallow, and a Senegalese, Ndiaga Ba, for allegedly dealing in 300 metric tonnes of diesel without license.

    They were charged before Justice Mohammed Idris of the Federal High Court in Lagos.

    A Nigerian, Abel Bassey, a vessel, MT Wolof and a firm, Japcco Limited, are the other defendants.

    The EFCC, in the two-count charge, said the defendants conspired to unlawfully deal in petroleum products.

    The alleged offence contravenes Section 3(6) of the Miscellaneous Offences Act of 2004 and punishable under Section 1(17).

    The defendants pleaded not guilty to the charges.

    Defence counsel, Adegboyega Adetunji, urged the court to grant the suspects bail.

    But, prosecuting counsel, Ekene Iheanacho, urged court to refuse the foreigners’ bail application.

    Justice Idris rejected the bail application and ordered that the defendants be kept in prison until the trial ends.

    “I have read all the processes filed in this case and the submission of counsel on both sides. I cannot find my way clear in granting this application for bail.

    “There is no evidence that the defendants are resident within the jurisdiction of this court.

    “Therefore, bail is refused. Accelerated hearing of this case is hereby ordered,” the judge ruled.

    Justice Idris adjourned till December 13 for trial.

     

  • EFCC amends charge against Diezani, Belgore, Suleiman

    EFCC amends charge against Diezani, Belgore, Suleiman

    •Accuses defendants of paying Kwara REC, CP N10m each

    The Economic and Financial Crimes Commission ( EFCC ) has amended the charge filed against a Senior Advocate of Nigeria (SAN) Mr Dele Belgore and former National Planning Minister Prof Abubakar Suleiman.

    Former Petroleum Resources Minister Mrs Diezani Alison-Madueke is also named in the charge. EFCC said she is “at large”.

    Belgore and Suleiman, who were arraigned on February 8, are on trial before Justice Rilwan Aikawa of the Federal High Court in Lagos.

    In the nine-count amended charge, EFCC accused Alison-Madueke, Belgore and Suleiman of making cash payment of N10million to Kwara State Resident Electoral Commissioner (REC) Dr Emmanuel Onucheyo.

    The commission said they also paid N10million to a Commissioner of Police Garba Saliu.

    According to EFCC, the defendants allegedly made the payments on March 27, 2015 without going through a financial institution.

    The sums, the commission said, exceeded the amount authorised by law and violated Sections 1(a) and 16 (d) of the Money Laundering (Prohibition) (Amendment) Act of 2012 and punishable under Section 16 (2) (b).

    The defendants were accused of making cash payment of N61,656,000 to Isa Biu on the same day, exceeding what is authorised by law.

    EFCC said they also paid N87,962,000 to Sola Adeoti and Hajiya Dankaka on the same day “without going through a financial institution.”

    The prosecution, as in the previous charge, accused the defendants of violating the Money Laundering Act by dealing in excess cash without going through a financial institution.

    EFCC said they “directly took possession of the sum N450million,” adding that they “reasonably ought to have known [that the money] forms part of the proceeds of unlawful act.”

    It also accused them of “indirectly” using the sum of N450million on March 27, 2015, and of making cash payment of N450million, which exceeded the amount authorised by law.

    According to the commission, Mrs Alison-Madueke, Belgore and Sulieman, on the same day, made cash payment of N50million to one Sheriff Shagaya, an amount in excess of what the law allowed.

    Count one of the charge reads: “That you Mrs Diezani Alison-Madueke (still at large), Muhammad Dele Belgore and Prof Abubakar Sulaiman on or about the 27th day of March in Nigeria within the jurisdiction of this Honourable Court conspired amongst yourselves to directly take possession of the sum of N450,000,000, which sum you reasonably ought to have known forms part of the proceeds of unlawful act and you thereby committed an offence contrary to Section 18 (a) of the Money Laundering (Prohibition) (Amendment) Act 2012 and punishable under Section 15 (3) and (4) of the same Act.”

    The amended charge is dated November 22 and signed by Rotimi Oyedepo.

    Belgore and Suleiman are expected to be re-arraigned tomorrow.