The Economic and Financial Crimes Commission (EFCC) has arraigned four individuals before the Federal High Court in Ikoyi, Lagos, over an alleged money laundering scheme involving $5,296,691.
The defendants—Bamidele Ayodele Emmanuel, Abdullah Oriyomi, Garuba Fathiat Funmilayo, and Gbenro Victor Ademola—were arraigned on Wednesday by the Lagos Zonal Directorate 1 of the EFCC before Justice F. N. Ogazi.
They were separately charged on two counts each bordering on money laundering, contrary to the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
According to one of the charges, Bamidele Ayodele Emmanuel allegedly retained $826,691 in his Wema Bank account between January 1 and 31, 2025. The EFCC alleged that he reasonably ought to have known the funds were proceeds of unlawful activities, an offence punishable under Section 18 of the Money Laundering (Prevention and Prohibition) Act, 2022.
When the charges were read, all four defendants pleaded guilty.
Following their pleas, EFCC prosecuting counsel, Bilkisu Buhari, reviewed the facts of the case before the court. She told the court that investigations revealed the defendants admitted providing their personal information to one Afeez Animashaun, who allegedly approached them at Mushin Market in Lagos, where they conducted their businesses.
The prosecution further stated that the defendants’ identities were used to register several companies, including College Compass Eduguide Nigeria Limited, Hortifresh Solutions Nigeria Limited, Eduboost Innovation Nigeria Limited, and Fixit Hardware and Tools Nigeria Limited.
According to the EFCC, corporate bank accounts were subsequently opened in the names of the companies, through which more than $5.2 million was received within January 2025.
The prosecution argued that the defendants’ actions enabled the real operators of the companies to conceal their identities while facilitating the movement of suspicious funds through Nigeria’s financial system.
Buhari urged the court to convict the defendants based on their guilty pleas and impose appropriate sentences.
Justice Ogazi ordered that the defendants be remanded in a correctional facility and adjourned the case until August 4, 2026, for judgment.