money laundering Archives - Naija Premium Gist

Alleged money laundering: Ex-Lagos Attorney General, Supo Shasore, arraigned in court, granted N50m bail

October 20, 2022 No Comments

The Economic and Financial Crimes Commission (EFCC) has arraigned a former Lagos State Attorney-General and Commissioner of Justice, Olasupo Shasore, over money laundering allegations, totaling more than 200,000 dollars.

When the charges were read to him, the Senior Advocate of Nigeria pleaded not guilty to the four count-charge at the Federal High Court, Ikoyi, Lagos before Justice Chukwujekwu Aneke.

The EFCC legal team is led by Bala Sanga, a senior advocate of Nigeria, while four Senior Advocates of Nigeria are appearing for Mr. Shasore.

They are Yemi Candide-Johnson (SAN), Dr. Muiz Banire (SAN), Segun Ajibola (SAN) and Chijioke Okoli (SAN).

After the arraignment, the defendant through his counsel then applied for bail on liberal terms or on self-recognizance, arguing that Mr. Shasore (SAN) isn’t a flight risk who will be present for his trial at all times and that the alleged offences are bailable.

The EFCC, on its part, didn’t object to the bail application. The court granted him bail in the sum of N50 million and is to provide a surety in like sum.

Lifestyle, Politics

EFCC files money laundering charges against ex-Lagos Attorney General Olasupo Shasore

October 12, 2022 No Comments

The Economic and Financial Crimes Commission, EFCC, has filed a four-count money laundering charge against a former Lagos State Attorney General and Commissioner for Justice, Mr Olasupo Shasore, SAN, accusing him of inducing one Olufolakemi Adetore to accept cash payment without going through a financial institution.

Shasore was the Lagos State Attorney-General and Commissioner for Justice during Mr Babatunde Fashola-led government.

Vanguard reports that according to the charge sheet filed by the EFCC at the Federal High Court in Lagos on August 12, 2022, the former attorney-general was alleged to have made a cash payment of $100,000 to Olufolakemi Adelore through Auwalu Habu and Wole Aboderin.

He was alleged to have committed the offences on or about November 18, 2014.

The charge also added that the former Lagos State’s Attorney-General made a cash payment of $100,000 to one Ikechukwu Oguine without going through a financial institution.

The offences contravened sections 78(c); 1(a) and 16(1)(d) and 18(c) of the Money Laundering (Prohibition) Act, 2011 (as amended) and were punishable under section 16(6) and 16 (2)(b) of the same Act.

The arraignment of Shasore has been fixed for October 20.

Politics

MONEY LAUNDERING: Ex-gov Nyako, son know fate July 19

July 17, 2021 No Comments

Justice Okon Abang of the Federal High Court, Abuja, has fixed July 19 for ruling on either the no-case submission filed by former governor of Adamawa State, Murtala Nyako, or the substantive case.

The judge fixed the date after counsels to parties in the case concluded arguments on the no-case-submission filed by the ex-governor.

The Economic and Financial Crimes Commission (EFCC) arraigned Nyako and his son, Abdul-Aziz, on a 37-count charge of criminal conspiracy, stealing, abuse of office and money laundering in 2015.

Other defendants in the case are – Inare Zulkifik Abba, Abubakar Aliyu, Sebore Farms, and Extension Limited, Pagado Fortunes Limited, Blue Opal Limited, Tower Assets Management Limited, and Crust Energy Limited.

The commission accused the defendants of converting some funds belonging to the Adamawa State government to their personal uses.

At the resumed hearing on the matter Friday, counsel for Nyako, Ibrahim Isiaku (SAN), told the court that all the cases cited by the prosecution in support of its case were irrelevant.

He stressed that for a charge relating to money laundering to thrive, it must be proved that the money laundered is a subject of an illegal act.

He said the prosecution has not provided such evidence to support its claim against the ex-governor and urged the court to uphold the no-case submission and dismiss the case.

The EFCC counsel, Oluwaleke Atolagbe, prayed the court to dismiss the no-case submission and order the defendants to open their defence.

Justice Abang directed counsels to submit copies of fresh information listed to support their case.

Politics

Court throws out EFCC money laundering case against Atiku’s lawyer

January 25, 2021 No Comments

A Federal High Court in Lagos has dismissed a case of money laundering the Economic and Financial Crimes Commission (EFCC) instituted against former Vice-President Atiku Abubakar’s lawyer.

The court presided over by Justice Chukwujekwu Aneke sacked the case on monday.

Atiku’s lawyer, Uyiekpen Giwa-Osagie, and his brother, Erhunse, were dragged to the court by the EFCC on a three-count charge of money laundering to the tune of $2 million.

Giwa-Osagie was said to have delivered the money illegally to former President Olusegun Obasanjo during the 2019 general election.

However, ruling on the matter, the judge said that the anti-graft agency was unable to prove that the money was illegal.

During the trial, the prosecution counsel, Kufre Uduak, told the court that the EFCC sometime in 2019 gathered from intelligence that some politicians were moving around with US Dollars to influence the result of the last general elections.

However, ruling on the matter, the trial judge sacked the case for the commission’s failure to establish its claim.