The Economic and Financial Crimes Commission (EFCC) on Thursday, arraigned an energy firm, TOF Energy Company Limited, before a Lagos Federal High Court, for allegedly laundered the sum of $4, 920, 500 million USD.
The EFCC accused the energy company of committing the offence with one Jyde Adelakun, who is said to be at large, in a charge marked FHC/L/459c/2023.
The EFCC lawyer, Mr. Rotimi Oyedepo (SAN), told the court that the company committed the offences between August 17 and September 6, 2018.
Precisely, Oyedepo (SAN) told the court that the energy company retained the sum of $9,985.00 USD; $629,875.00 USD; $499,975.00 USD; $549,975.00 USD; $510,575.00 USD; $1,199,975.00 USD and $1,519,975.00 USD, within the above mentioned period.
The prosecutor also told the court the the said illicit funds were warehoused in the company’s domicilary account number 1771453359 with Polaris Bank Limited.
He told the court that the company crimes contravened sections 18(a) and 15(2)(d) of the Money Laundering (Prohibition and Prevention) Act, 2014 (as amended) and punishable under section 15 (2) of the same Act.
The EFCC lawyer also informed the Court that the matter is scheduled for arraignment and he therefore expects that a representative of the Defendant is in Court to take a plea or the Defendant has taken a plea in writing.
But lawyer to the company, Mr. Bolaji Kuti, informed the Court that his client is not a juristic person, and urged Court entered a plea of not guilty for the defendant.
Kuti also informed the Court that he has two applications, a Motion on Notice seeking to quash the Charge and a Preliminary Objection challenging the Jurisdiction of the Court. But withdrew the Motion on Notice to quash the charge which was subsequently struck out by the Court.
Justice Aneke however acceded to the defence team’s request and entered not guilty plea for the company.
On the company’s Preliminary Objection, the prosecutor, Oyedepo (SAN) admitted being served with the company’s Preliminary Objection, but told the court that he will time to go through its and file his response. He thereafter asked the court for a date.
Consequently, by the agreement of counsel, Justice Aneke adjourned the matter till February 5, 2024, for hearing of the company’s Preliminary Objection to the charge.
