A Federal High Court sitting in Ikoyi, Lagos, has remanded four persons in a correctional facility over their alleged involvement in a $5.3 million money laundering scheme.
The defendants — Bamidele Ayodele Emmanuel, Abdullah Oriyomi, Garuba Fathiat Funmilayo and Gbenro Victor Ademola — were arraigned by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) before Justice F. N. Ogazi on separate two-count charges bordering on money laundering.
The EFCC alleged that the four retained and facilitated the movement of a total of $5,296,691 believed to be proceeds of unlawful activities, contrary to the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
At the commencement of proceedings, all four defendants pleaded guilty to the charges preferred against them.
Reviewing the facts of the case, prosecution counsel Bilkisu Buhari told the court that investigations revealed the defendants surrendered their personal information to one Afeez Animashaun, who allegedly approached them at Mushin Market, Lagos, where they carried out their businesses.
According to the prosecution, the information was used to register companies, including College Compass Eduguide Nigeria Limited, Hortifresh Solutions Nigeria Limited, Eduboost Innovation Nigeria Limited and Fixit Hardware and Tools Nigeria Limited, and to open corporate bank accounts through which millions of dollars were received in January 2025.
The prosecution further alleged that the defendants’ identities provided anonymity for the actual operators of the companies and enabled suspicious funds to be moved through the Nigerian financial system.
Following the guilty pleas and the presentation of the facts, the prosecution urged the court to convict the defendants and impose appropriate sanctions.
Justice Ogazi thereafter remanded the defendants in a correctional facility and adjourned the matter until August 4, 2026, for judgment.
