HomeJust InMoney Laundering: Kogi Governor’s nephew arraigned for N10bn fraud

Money Laundering: Kogi Governor’s nephew arraigned for N10bn fraud

-

Justice James Kolawole Omotosho of the Federal High Court, Maitama, Abuja, remanded Ali Bello, a nephew to Kogi State Governor, Yahaya Bello and Dauda Sulaiman in prison pending the fulfillment of their bail conditions.

They were remanded upon arraignment alongside Abdulsalami Hudu, Cahier of Kogi State House Administration, now at large, on a 10-count charge of misappropriation and money laundering

Bello and Sulaiman are accused of fraudulently withdrawing a sum of N10, 270,556,800 from the Kogi State treasury, which they delivered to a Bureau de Change operator, Rabiu Tafada in Abuja to keep or change to foreign currencies for personal gains.

One of the charges reads: “That you, Ali Bello, Dauda Suleiman, and Abdulsalami Hudu, now at large, between January and December 2021, in Abuja within the jurisdiction of this Honourable Court procured Rabiu Usman Tafada to take possession of the total sum of N5,865,756,800, which sum you reasonably ought to have known forms part of the proceeds of unlawful activity to wit: criminal misappropriation from the treasury of Kogi State and you thereby committed an offence contrary to sections 18 (c), 15 (2) (d) of the Money Laundering Prohibition Act, 2011 as amended and punishable under section 15 (3) of the same Act.”

Another count reads: “That you, Ali Bello, Dauda Suleiman, and Abdulsalami Hudu, now at large, between January and December 2021, in Abuja within the jurisdiction of this Honourable Court aided Rabiu Usman Tafada to retain the total sum of N2,509,650,000.00, which sum you reasonably ought to have known forms part of the proceeds of an unlawful activity to wit: Criminal Misappropriation from the treasury of Kogi State Government and you thereby committed an offence contrary to sections 18 (a) 15 (2) (d) of the Money Laundering Prohibition Act, 2011 as amended and punishable under section 15 (3) of the same Act.”

They however pleaded “not guilty” to the charges preferred against them by the EFCC.

In view of their pleas, prosecution counsel, Rotimi Oyedepo SAN, asked the court to fix a date for the commencement of trial.

Counsel to the second and third defendants, Abdulwahab Mohammed SAN, informed the court of his application for the bail of the defendants.

Justice Omotosho admitted the defendants to bail in the sum of N1billion Naira each and two sureties who are to provide a bond of N2 billion each and have a landed property valued at N500 million. The title of the properties shall be registered with the chief registrar of the Court.

Each of the sureties and the defendants shall submit their bank statements and international passports to the chief registrar of the Court.

The sureties must also produce an affidavit of means and evidence of tax clearance for at least three years.

The judge thereafter sent the defendants to Kuje Correctional centre, Abuja pending the fulfillment of their bail conditions and adjourned the matter till February 6, 2023 for a hearing.

SUPPORT US

At Priceless Media Publishing Nig. Ltd /Securitynewsalert.com, we are steadfast in our commitment to independent journalism: reporting that is fearless, impartial, and free from the interference of powerful personalities, politicians and government interests.

Without corporate sponsorships or political affiliations, our ability to investigate freely rests in the hands of the people we serve—you!

Every donation helps us expose the truth, amplify silenced voices, and hold power accountable.
Stand with us because journalism should serve the people, not power.

• Account Name: PRICELESS MEDIA PUBLISHING NIG. LTD
• Account Number: 1943445259
• Bank Name: ACCESS Bank

LATEST POSTS

How Nigerians Abroad Can Grow Wealth at Home

A Nigerian professional in London closes her laptop after another workday. In Toronto, a family reviews its financial plans for the next few years. In...

LASTMA Rescues 670 Accident Victims in Nine Months

 The Lagos State Traffic Management Authority (LASTMA) has announced that it successfully rescued 670 accident victims following 1,409 road traffic crash interventions across Lagos State...

#ICPC Boss Flags Off Three-Day Workshop, Says Illicit Financial Flows Rob Nigeria of Vital Resources*

 Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Dr Musa Adamu Aliyu, SAN, on Tuesday flagged off a combined training workshop...

ICPC Rises to Second Most Transparent Federal Institution, Scores 80.13%

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has emerged as the second most transparent federal institution in Nigeria, scoring 80.13 per cent...

Follow us

0FansLike
0FollowersFollow
0SubscribersSubscribe
spot_img

Most Popular

spot_img