EFCC Arraigns BDC Operators Over Money Laundering Charges

Two Bureau de Change operators alleged to have laundered $1.6m were on Monday arraigned by the Economic and Financial Crimes Commission (EFCC), on five counts charges before Justice Ayokunle Faji.

The money is said to be proceeds of smuggling.

The defendants, Chris Ogbonna and Sulaiman Jibbo, were arraigned alongside two firms- Kur and Sule Nigeria Enterprises; and Sunchrist Trans Nigeria Limited.

According to the EFCC, the two should have known that the $1.6m, which they allegedly removed from jurisdiction sometime in 2017, “formed parts of proceeds of unlawful activity, to wit: smuggling”.

The anti-graft agency also accused Ogbonna and Sunchrist Trans Nigeria Limited of transferring a total of N607.2m, being proceeds of smuggling, to Kur and Sule Enterprises.

Jibbo, on his part, was accused of making a cash payment of $52,287 to one Fredrick, “which sum exceeded the amount authorised by law”.

EFCC prosecuting counsel, Kufre Uduak, informed the court that the defendants acted contrary to sections 18(c), 15(2), 1(a), and 16(1) of the Money Laundering (Prohibition) Act 2011 and they were liable to punishment under sections 15(3) and 16(2)(b) of the same law.

The defendants, however, pleaded not guilty to the charges.

Justice Faji admitted each of them to bail in the sum of N10m with two sureties in like sum, after a bail application by their counsel, Chuks Nwana.

The defendants were barred by the Judge from travelling outside the country, with an order that the EFCC should notify the Nigeria Immigration Service about them.

The judge gave them 10 days to meet the bail conditions, failing which they would be remanded in the custody of the Nigerian Correctional Services.

The judge adjourned till July 10 for report of compliance with the bail conditions.