EFCC boss, Olukoyede

Akin Kuponiyi 

The four counts charge of failure  to register with relevant agencies the operation of Collective Investment scheme organised by a limited liability company NISL VENTURES LIMITED,has been adjourned till 23rd of July, 2025 for the plea of the company to be taken.

In the said four counts charge filed before a Federal high court in Lagos by the Nigeria foremost Anti -graft Agency,Economic and Financial Crime Commission,NISL VENTURES LIMITED was alleged to have been carrying on investment management business without valid license from Central Bank and also failed to registered with Security and Exchange Commission.

It was further alleged that NISL Ventures Limited failed to report to Nigeria Financial Intelligence Unit in writing within seven days of transfering of N30 million and N 20 Million respectively.

The charge as filed before the court.

COUNT ONE

That you NISL VENTURES LIMITED sometime between 2022 and 2023 in Nigeria within the Judicial Division of this Honourable court, being a company incorporated in Nigeria, failed to obtain a valid licence from the Central Bank of Nigeria to carry On your business of Investment Management  and you thereby committed an offence contrary to Section 57 of the Banks and Other Financial Institutions Act 2020 and punishable under Sections 57(5) of the same Act.

COUNT TWO :

That you NISL VENTURES LIMITED sometime between 2022 and 2023 in Nigeria within the Judicial Division of this Honourable court, being a company incorporated in Nigeria, while carrying on your Investment of Collective Investment Scheme, failed to register with the Securities and Exchange Commission, and thereby committed an offence contrary to Section 54(1) of the Investment and Securities Act 2007 and punishable under Section 54(6) of the same Act.

COUNT THREE:

That you NISL VENTURES LIMITED on the 30th of June, 2022 in Nigeria within the Judicial Division of this Honourable court, while Carrying on

the business of Investment Management failed lo report to the Nigerian Financial Intelligence Unit in writing within seven days of a single transfer of the sum of N30 000 00 00 (Thirty Million Naira) from your bank  account and you thereby committed an offence contrary to section 11(1)(b) and punishable under sections 11(3) of the Money Laundering Prohibition Act 2022,

COUNT FOUR

That you NISL VENTURES LIMITED on the 6th of July, 2022 In Nigeria within the Judicial Division of this Honourable court, while Carrying on the business of Investment Management failed to report to the Nigerian Financial Intelligence Unit In writing within seven days of a single transfer of the sum of N20,000,00.00 (Twenty Million Naira) from your bank account and you thereby committed an offence contrary to Section 11(1)(b) and punishable under sections 11(3) of the Money Laundering Prohibition Act 2022.