Justice F.N. Ogazi of the Federal High Court, sitting in Ikoyi, Lagos, on Wednesday, August 5, 2026, convicted and sentenced four persons for their involvement in a money laundering scheme involving $5,296,691( Five Thousand, Two Hundred and Sixty Nine United States Dollars, Six Hundred and Ninety One cents)
The convicts; Bamidele Ayodele Emmanuel, Abdullah Oriyomi Yusuf, Garuba Fathiat Funmilayo, and Gbenro Victor Ademola were separately arraigned by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) on a two-count charge 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 reads: "That you, BAMIDELE AYODELE EMMANUEL, between January 1 and January 31, 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 with Wema Bank, which you reasonably ought to have known formed 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."
The defendants pleaded guilty when the charges were read to them.
Following their guilty pleas, the prosecution counsel, Bilkisu Buhari, reviewed the facts of the cases before the court.
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