Abuja Zonal Command of the Economic and Financial Crimes Commission (EFCC) has brought forward serious charges against two former bankers, Victor Joseph and Ahmad Muhammad Aliyu, accusing them of engaging in money laundering activities totaling N110,000,000 (One Hundred and Ten Million Naira).
The pair was hauled into court on Monday, February 12, 2024, to face five-count charges related to money laundering before Justice N.E. Maha at the Federal High Court Maitama Abuja.
As per the second count of the indictment, Victor Joseph, previously employed at the United Bank for Africa, allegedly conspired with Ahmad Muhammad Aliyu and an unidentified accomplice to manipulate and misappropriate the mentioned sum between March and April 2023 in Abuja.
These funds, suspected to be derived from illicit endeavors involving deceitful practices, were purportedly laundered, thus breaching Section 18 (2)(d) of the Money Laundering Prohibition Act, 2002.
Despite their plea of innocence, the prosecution, led by counsel Joshua Saidi, pressed for a trial date, while counsels for the defendants, Gbenga Ashowole and Nelem Orji, sought bail on behalf of their clients.
In a decisive move, Justice Maha ordered the immediate remand of the defendants at the Kuje Correctional Centre, deferring the hearing of bail applications until February 27, 2024.
The defendants are accused of orchestrating the fraudulent transfer of N110,000,000 from the National Assembly office account between March 27 and April 11, 2023, through fictitious transfer instructions.
Investigations have unveiled a web of deceit, indicating that the forged directives were submitted at the UBA National Assembly Business office, Abuja Branch, leading to the dispersal of funds to various recipients across three banks.
Subsequently, the trail of funds was traced to multiple beneficiaries, who allegedly returned the money to Joseph, the purported mastermind behind the illicit transactions.
