The Economic and Financial Crimes Commission (EFCC) has arraigned four suspects for allegedly laundering more than $5.29 million through companies allegedly created with stolen identities, with all four pleading guilty before a Federal High Court in Lagos.
The defendants: Bamidele Ayodele Emmanuel, Abdullah Oriyomi, Garuba Fathiat Funmilayo and Gbenro Victor Ademola, were separately arraigned on Wednesday before Justice F.N. Ogazi of the Federal High Court sitting in Ikoyi, Lagos, on two-count charges 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 the sum of $826,691 in a Wema Bank account between January 1 and January 31, 2025, knowing or reasonably expected to have known that the funds were proceeds of unlawful activities.
The charge stated in part:
“That you, BAMIDELE AYODELE EMMANUEL, between 1 and 31st January, 2025, in Lagos and within the jurisdiction of this Honourable Court, directly retained the sum of $826,691 (Eight Hundred and Twenty-Six Thousand, Six Hundred and Ninety-One United States Dollars) in your account, No. 0126008755 domiciled in Wema Bank, which you reasonably ought to have known forms part of the proceeds of an unlawful act, and you thereby committed an offence contrary to and punishable under Section 18 of the Money Laundering (Prevention and Prohibition) Act, 2022.”
The four defendants pleaded guilty when the charges were read to them.
Following their pleas, prosecution counsel, Bilkisu Buhari, reviewed the facts of the case and told the court that investigations revealed the defendants admitted providing their personal information to one Afeez Animashaun, who allegedly approached them at Mushin Market, Lagos, where they carried out their various businesses.
Buhari further informed the court that investigators established that the defendants’ identities were subsequently used to incorporate 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 prosecution, corporate bank accounts were opened in the names of the companies and used to receive millions of dollars within January 2025.
She told the court that the defendants’ actions provided anonymity for the actual operators of the companies and facilitated the movement of suspicious funds through Nigeria’s financial system.
Buhari thereafter urged the court to convict the defendants as charged and impose appropriate sentences in accordance with the law.
Justice Ogazi ordered that the defendants be remanded in a correctional facility and adjourned the matter until Tuesday, August 4, 2026, for judgment.
