Lagos Businessman docked for laundering $420,000

Lagos Businessman docked for laundering $420,000

Thursday, October 3, 2019 3:15 pm


Akin Kuponiyi

A Lagos businessman Yakub Auwal Mohammad was today arraigned before a Federal high court in Lagos south west Nigeria for allegedly laundering $420.000 United States Dollars

In a two count criminal charge number FHC/304C/19 filed before the court by Economic and Financial Commission (EFCC) legal officer, ABC Ozioko, it was alleged in count one that Mohammed, Adetubosun Samuel Adeyeri still at large and Babangida Dauda also on the run sometimes in Lagos between 2012 and 2015 conspired together to take possession of $400,000 which they reasonably ought to have known that such funds form part of proceed of unlawful activities, thereby committed an offence contrary to section18(a) of the money laundering Act.

In the second count Yakub Auwal Mohammed was alleged to have solely took possession of $20,000.

The accused businessman pleaded not guilty to the charge. Consequently, based on the bail application of his counsel, the presiding judge, Justice Saliu Saidu. admitted the accused to bail in the sum of N50million with two sureties, one of which must be a civil servant on grade level 14.

Thereafter the case was adjourned till 14th of November, 2019 for trial to commence.

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