Justice Akintayo Aluko of the Federal High Court sitting in Ikoyi, Lagos, has convicted and sentenced Sunmonu Olasunkanmi Thaoban to four years’ imprisonment for money laundering offenses.
Sunmonu was prosecuted by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) on a two-count charge bordering on money laundering.
The EFCC alleged that the convict, while acting as a middleman in 2023, disguised the origin of ₦16 million believed to be proceeds of unlawful activities by converting the funds into a black 2018 G-Wagon Jeep.
The prosecution said the offense contravened provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
Sunmonu pleaded guilty to both counts.
Following his plea, EFCC counsel, H.U. Kofarnaisa, reviewed the facts of the case and urged the court to convict and sentence him accordingly.
Justice Aluko found him guilty and sentenced him to four years’ imprisonment, with an option of a ₦1.8 million fine.
The court also ordered the forfeiture of the black G-Wagon Jeep and a mobile device belonging to the convict to the federal government.
Meanwhile, the court also convicted and sentenced four Bureau de Change (BDC) operators to 12 months’ imprisonment each for engaging in illegal foreign exchange transactions.
The convicts—Umar Muhammad Lamido, Yusuf Musa Yusuf, Abdulmuhimin Mahmud and Muhammed Musa—were prosecuted by the EFCC on separate one-count charges bordering on illegal foreign exchange operations.
