Justice F.N. Ogazi of the Federal High Court sitting in Ikoyi, Lagos, has convicted and sentenced four persons over their involvement in a money laundering scheme involving $5,296,691.
The Economic and Financial Crimes Commission (EFCC) disclosed this in a statement on Friday.
According to the commission, the convicts — Bamidele Ayodele Emmanuel, Abdullah Oriyomi Yusuf, Garuba Fathiat Funmilayo and Gbenro Victor Ademola — were separately arraigned by its Lagos Zonal Directorate 1 on two-count charges bordering on money laundering, contrary to the Money Laundering (Prevention and Prohibition) Act, 2022.
One of the charges against Emmanuel alleged that between January 1 and 31, 2025, he retained $826,691 in his Wema Bank account, which he reasonably ought to have known was part of the proceeds of an unlawful act.
All four defendants pleaded guilty to the charges, following which, EFCC counsel, Bilkisu Buhari, reviewed the facts of the cases before the court and urged the judge to convict and sentence them accordingly.
Buhari told the court that investigations revealed that the defendants had sold their personal information to one Afeez Animashaun, who approached them at Mushin Market, Lagos, where they conducted their businesses.
She said the investigation further established that the defendants’ identities were used to incorporate four companies — College Compass Eduguide Nigeria Limited, Hortifresh Solutions Nigeria Limited, Eduboost Innovation Nigeria Limited and Fixit Hardware and Tools Nigeria Limited. Corporate bank accounts were subsequently opened in the names of the companies and used to receive millions of dollars in January 2025.
In his judgment, Justice Ogazi found the four defendants guilty on the second count and sentenced each to four months’ imprisonment, alongside varying periods of community service and monetary forfeiture.
Emmanuel was ordered to serve three months of community service and forfeit ₦1 million to the Federal Government, while Funmilayo was sentenced to 15 months of community service and ordered to forfeit ₦1 million within 72 hours. Yusuf was ordered to perform three months of community service and forfeit ₦800,000, while Ademola was sentenced to three months of community service and ordered to forfeit ₦700,000 within 72 hours.
The court further ordered the convicts to work with the EFCC on public awareness and advocacy campaigns highlighting the dangers of indiscriminately selling or giving out personal data to third parties.
