Foreign business man loses $7,000 to FG


A Republic of Congo-based businessman, identified as Ani Onyeka, forfeited the sum of $700,000 to the Federal Government , which he failed to declare to the Nigeria Customs Service at the Murtala Mohammed International Airport, Lagos.

The order was made by Justice Rilwan Aikawa of the Federal High Court in Lagos made the order on Thursday in a money laundering lawsuit filed against Onyeka by the Economic and Financial Crimes Commission.

The anti-graft agency said the $700,000 was part of a total of $1,909,140 cash, which the businessman laundered.

Onyeka, on Thursday, entered into a plea bargain with the EFCC, pleading guilty to two counts of money laundering slammed against him.

While reviewing the fact of the case, counsel for the EFCC, Rotimi Oyedepo, said the businessman was handed over to the EFCC by the Customs following his arrest on February 23, 2014 with $1.9m at the MMIA.

According to Oyedepo, the businessman, in his statement to the EFCC, claimed that one Ikechukwu Frank gave him the money for onward delivery to one Jude Okoye in Nigeria.

He said men of the Nigeria Customs nabbed him while attempting to deliver the money without going through any financial institution.

According to Oyedepo, Onyeka violated Section 12 of the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act Cap. F34, Laws of the Federation of Nigeria, 2004, and Section 2(5) of the Money Laundering (Prohibition) Act, 2011.

Oyedepo said Onyeka had, however, entered into a plea bargain with the EFCC, tendering the said plea bargain agreement dated December 4, 2017.

The lawyer said the recovered $1.9m was in the custody of the Central Bank of Nigeria, tendering a letter to that effect.

He urged the court to convict the businessman of money laundering as charged.

Justice Aikawa convicted him accordingly.

He ordered that the forfeited $700,000 should be credited into the Federal Government’s consolidated account while the balance of the $1, 209,140 should be released to the businessman.

“The remaining sum of $1, 209,140 should be released to the defendant through a designated financial institution in strict compliance with the provisions of Section 1 (a) of the Money Laundering (Prohibition) Act 2011, as amended.

“The defendant shall within seven days after the payment of the fine imposed by the court, enter into a bond with the Economic and Financial Crimes Commission never to be involved in economic and financial crimes within and outside the shores of Nigeria,” the judge held.

Source: ( Punch Newspaper)


Comments 0

Your email address will not be published. Required fields are marked *

You may also like

More From: News

DON'T MISS


Notice: Undefined index: enable_manual_switch_in_footer in /home2/informng/public_html/wp-content/plugins/mobile-smart/mobile-smart.php on line 946
Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format