Edetanle was arraigned on a seven-count charge bordering on alleged abuse of office, money laundering, and unlawful enrichment by a public official.

The offences are said to contravene Sections 332(1) and 332(3), Section 73(1), and Section 82(c) of the Criminal Law of Lagos State, 2011.

One of the counts reads:

“That you, Fidet Okhiria Edetanle, while serving as the Managing Director of the Nigerian Railway Corporation, between May 29, 2024 and September 11, 2024, in Lagos, within the jurisdiction of this Honourable Court, committed an offence, to wit: money laundering, by transferring the cumulative sum of Two Hundred and Five Thousand United States Dollars ($205,000.00) from your domiciliary account domiciled in Access Bank Plc, account number 0010069159, being proceeds of unlawful activities, to the bank account of Ehimen Richard Okhiria domiciled in ABN AMRO Bank, Netherlands, with account number NL38ABNA011257662.

Another count reads:

“You, Fidet Okhiria Edetanle, after leaving office as Managing Director of the Nigerian Railway Corporation, between October 21, 2024 and November 21, 2024, in Lagos within the jurisdiction of this Honourable Court, committed an offence, to wit: money laundering, by transferring the cumulative sum of Forty Thousand United States Dollars ($40,000.00) from your domiciliary account in Access Bank Plc to the bank account of Ehimen Richard Okhiria domiciled in ABN AMRO Bank, Netherlands, being proceeds of unlawful activities.”

The defendant pleaded “not guilty” to all the charges preferred against him.

Following his plea, the prosecution counsel, Abba Muhammad, SAN, requested a trial date and urged the court to remand the defendant in a correctional facility pending trial.

However, the defence counsel, Adebowale Kamoru, informed the court that he had just received the charge and requested a short adjournment to enable him to file a bail application.

 After listening to both parties, Justice Oshodi adjourned the matter till May 13, 14, and 15, 2026 for commencement of trial and ordered that the defendant be remanded in a maximum correctional facility pending the determination of his bail application.

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Mrs. Adiobome Blessing Lere-Adams appeared before Honourable Justice M.S. Liman at the Federal High Court in Abuja on Monday, 16th February 2026.
The charges, filed under case number FHC/ABJ/CR/551/2025, allege that she illegally received and retained funds from a subordinate, which she knew, or ought reasonably to have known, were the proceeds of corruption.

The alleged offences occurred between August 2022 and January 2024 in the Federal Capital Territory, Abuja.

The ICPC prosecution team, led by Mrs. Onwuka Ngozi, contends that Mrs. Lere-Adams received various sums of money from her subordinate, Mr. Henry David. It is further alleged that she transferred substantial portions of these illicit funds to her spouse, Mr. Olujimi Lere-Adams, and into a Fidelity Bank account belonging to her son, Jafe Joel Lere-Adams, despite being aware that the money originated from unlawful activity.

The defendant faces a six-count charge, including violations of the Money Laundering (Prevention and Prohibition) Act, 2022, the Penal Code (Northern Nigeria) Federal Provisions Act, and the Corrupt Practices and Other Related Offences Act, 2000.

One of the counts against her reads: “That you, Blessing Adiobome Lere-Adams (F), on or about 18th August 2022 at Abuja, FCT within the jurisdiction of this Honourable Court while being a Director at Federal Ministry of Works and Housing directly took possession of and retained N2,000,000.00 (Two Million Naira) transferred to your First Bank account number 3002361584 by one Henry David, your subordinate, when you reasonably ought to have known that such fund formed part of the proceeds of an unlawful act, to wit: corruption. Thereby, you committed an offence contrary to section 18(2)(d) and punishable under section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”

Mrs. Lere-Adams, represented by her counsel, Barrister Nduka, pleaded not guilty to all charges.

Following an application from the defence for bail on liberal terms, Justice Liman granted the defendant bail in the sum of ₦5 million, with one surety in the like amount. The surety must reside within the court’s jurisdiction with a verifiable address, provide two passport photographs for verification by the National Identity Management Commission (NIMC), and submit a sworn affidavit along with three years’ worth of tax clearance for the court’s inspection.

At the request of the defence counsel, and with no objection from the prosecution, the court granted a 72-hour grace period for the defendant to meet the bail conditions. Justice Liman warned that the bail would be revoked if the terms were not satisfied within this timeframe.

The case has been adjourned until 20th April 2026 for a hearing.

The ICPC reaffirms its commitment to holding public servants accountable and ensuring that individuals who exploit their positions of trust for personal gain are brought to justice.

The post ICPC Arraigns Ministry of Works Director on Money Laundering Charges appeared first on Business Today NG.

The indictment was disclosed  today  by the Commission’s Director of Public Affairs, Mr. Wilson Uwujaren, during a press briefing at the EFCC headquarters in Abuja.

According to him investigations revealed that the affected institutions allowed massive cryptocurrency transactions worth N162 billion to pass through their platforms during the 2024/2025 financial year without conducting the required customer due diligence.

He said that the financial institutions clearly compromised banking procedures and allowed the fraudsters to safely change their ill-gotten gains into digital assets and move them to safe destinations.

“A total sum of N18.1 billion was moved through the financial system without due diligence of customers by the banks.

“It is worrisome that investigations by the commission showed that cryptocurrency transactions to the tune of N162 billion passed through a new generation bank without any due diligence.

“Investigations showed that a single customer maintained 960 accounts in another new bank and all the accounts were used for fraudulent purposes.

“That is bad news but the good news is that following our intervention the commission has been able to recover N33.62 million, which has been returned to some of the victims.”

He explained that the scams were in two categories, adding that the first was a syndicate of fraudsters that employed an airline discount scheme to lure their victims.

He said that they advertised a discount system for the purchase of flight tickets of a particular foreign carrier.

“The payment module is designed in such a way that the victims’ payment is actually made into the account of the airline.

“After payment is made the passenger’s entire funds in his bank account are emptied.

“Investigations showed that more than 700 victims have been scammed so far, with a loss of N651 million,” he said.

According to him, investigations show that the scheme is being masterminded by a foreign national; the commission has so far recovered and released N33 million to victims of the fraud.

He said that another scheme involved a company named Fred and Farid Investment Limited, simply called FF investment, which lured Nigerians into a bogus investment arrangement.

“More than 200, 000 victims have been defrauded in this regard. A total sum of N18 billion was raked in through nine companies offering diverse investment packages.

“The companies are: Credio Banco Limited; Deliberty Rock Limited; Liam Chumeks Global Service; Ngwuoke Daniels Technology; and Icons Autos and Import Merchant.

“Others are : Newpace Technology Services Limited, Primepath Ways Ventures Limited, Kaka Synergy Network Limited and Sunlight Tech Hub Services Limited.”

He said that foreign nationals were behind the schemes, while there are three Nigerian accomplices who have been arrested and charged to court.

He said that the masterminds were on the run and efforts are being made to bring them to book.

“The Commission is calling on regulatory bodies to bring financial institutions to compulsory compliance with regulations in the areas of Know Your Customers (KYC), Customer Due Diligence (CDD), Suspicious Transaction Reports (STRs) and others.

“Deposit Money Banks, Fintechs, Micro Finance Banks found to be aiding and abetting fraudsters should be suspended and referred to the EFCC for thorough investigation and possible prosecution.

“Negligence and failure to monitor suspicious and structured transactions by banks should no longer be allowed,” he said.

While cautioning members of the public to be wary of these actors, he said that the EFCC would continue its works against money laundering by fraudulent actors.

Uwujaren urged financial institutions to firm up their operational dynamics and save the nation leakages and compromises bleeding the economy.

According to him investigations revealed that the affected institutions allowed massive cryptocurrency transactions to pass through their platforms during the 2024/2025 financial year without conducting the required customer due diligence.

The post EFCC Indicts Bank, Fintechs Over N162bn Cryptocurrency Money Laundering appeared first on Business Today NG.

ThankGod,  alongside his company, Eezee Global Concepts Limited, is standing trial on an amended seven-count charge bordering on alleged foreign exchange malpractice and money laundering to the tune of $397,106( Three Hundred and Ninety Seven, One Hundred and Six United States Dollars).

The defendant was previously standing trial  before Justice Owoeye of the Federal High Court Ikoyi before the matter was reassigned to Justice Aneke.

One of the counts reads: “That you, EZEKIEL ONYEDIKACHUWU THANKGOD and EEZEE GLOBAL CONCEPTS LIMITED, sometime in June 2023 in Lagos, within the jurisdiction of this Honourable Court, not being an authorized buyer of foreign exchange currency appointed by the Central Bank of Nigeria under Section 5(1) of Foreign Exchange Monitoring and Miscellaneous (Provisions) Act CAP F34 LFN 2004 negotiated a foreign exchange transaction to wit: the naira equivalent of the sum of $52,895.00 (Fifty Two Thousand, Eight Hundred Ninety Five ) with Mr. Oladotun Olaobaju Mureke and you thereby committed an offence contrary to Section 5 and 29(1)(c) of the Foreign Exchange Monitoring and Miscellaneous (Provisions) Act Cap F34 LFN 2004 and punishable under Section 29(2) of the same Act.”

Another count reads: “That you, EZEKIEL ONYEDIKACHUWU THANKGOD and EEZEE GLOBAL CONCEPTS LIMITED, sometime in 2024 Lagos, within the jurisdiction of this Honorable Court within the jurisdiction of this Honourable Court, failed to submit to the Special Control Unit Against Money Laundering a declaration of your activities of the said company within which period the total sum of $137,383 (One Hundred and Thirty Seven Thousand, Three Hundred and Eighty Three United States Dollars) paid into EEZEE CONCEPTS LIMITED account number 5070522520 domiciled in Zenith Bank, and you thereby committed an offence contrary to Sections 6(1) (a),19(1)(f) of the Money Laundering(Prevention and Prohibition) Act, 2022 and punishable under Section19 (2)(b) of the same Act.” He pleaded “not guilty” to the charges when they were read to him.

In view of his plea,  prosecution counsel, Bilkisu Buhari-Bala, prayed for a trial date and also asked that the defendant be remanded in a Correctional Centre. The defence counsel, Chikaozolu Ojukwu SAN, however, prayed that his client be granted bail “in the most liberal terms” and be released to him, if granted bail. Responding, Buhari-Bala told the court that “The prosecution filed a 16-paragraph-counter affidavit, deposed to by Mohammed Adamu,  an Investigator with the EFCC, on the 4th of March 2025, urging the court to refuse the prayers of the defence.”

She argued that the defendant refused to accept service on several occasions and that all efforts to have him report himself at the EFCC office proved abortive.

She , therefore, opposed  the release of the defendant to his counsel, adding that the music promoter, who has been on an administrative bail granted him by the Commission, had not been honouring  further invitations.

Justice Aneke adjourned ruling on the bail application till May 9, 2025 and released the defendant to his counsel.

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