Two Bizmen Remanded For Alleged Money Laundering And Stealing Of N2,737,784,800.00

Kemisola Oye 

FOR alleged conspiracy and money laundering to the tune of Two Billion, Seven Hundred and Thirty-Seven Million,  Seven Hundred Eighty-Four Thousand, Eight Hundred Naira (N2, 737,784,800.00) two businessmen, Akeem Adekunle and Kayode Olusola Ayodeji have been ordered remanded in a correctional facility.

Justice Ismail Ijelu of a Lagos State High Court sitting in Ikeja issued the order following the arraignment of the defendants by the Economic and Financial Crimes Commission (EFCC). 

The EFCC arraigned the duo on an amended three counts charge bordering on the laundering of funds and conspiracy to launder funds obtained through unlawful activity.

Their alleged offence is said to be contrary to the provision of sections 7 and 8 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.

The prosecution counsel, Suleima Suleiman told the court that the duo, Adekunle and Ayodeji with others; Odunayo Rashidat Popoola (at large) and Afolabi Olushola Sunday (a. k. a. ‘Asiwaju Something), who is also at large, between 21 September 2023 and 4 October  2023, in Lagos conspired amongst themselves and transferred property derived from illegal act to the tune of Two Billion, Seven Hundred and Thirty-Seven Million,  Seven Hundred Eighty-Four Thousand, Eight Hundred Naira (N2, 737,784,800.00)  from the unlawful activity of Afolabi Olushola Sunday, with the aim of disguising the illegal origin of same. 

“Akeem Adekunle, sometime in June 2023 in Lagos, procured one Esther Titilayo to open an Access Bank account with the intent of promoting Afolabi Olushola Sunday in carrying on with stealing”. 

They pleaded not guilty to the three counts charge.

Following their plea, the prosecution counsel, Suleiman, prayed the court for a trial date and urged the court to remand the defendants to a correctional facility pending the determination of the charge. 

However, the first defendant’s counsel, Grace Adenubi, prayed for a stand down of the case for her to file a bail application which was declined by the court.

Also, the second defendant’s counsel, Catherine Nwagbara had yet to file bail applications before the court.  She prayed for a short date for her to file and serve the prosecution the bail application. 

Justice Ijelu thereafter adjourned the case to 6 May 2024 for trial and ordered the defendants to be remanded in a correctional facility.

Eighteen-Eleven Media