The Federal High Court in Lagos has convicted and sentenced four persons to prison for their roles in a money laundering scheme involving more than $5.2 million.
Trial judge Friday Ogazi delivered the judgement on Wednesday after the four defendants pleaded guilty to charges filed by the Economic and Financial Crimes Commission (EFCC).
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EFFC’s spokesperson Dele Oyewale named the convicts in a press statement on Friday as Bamidele Emmanuel, Abdullah Yusuf, Funmilayo Garuba and Gbenro Ademola.
They were separately arraigned on two counts of money laundering under the Money Laundering (Prevention and Prohibition) Act, 2022.
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According to the EFCC, investigations showed that the four sold their personal information to one Afeez Animashaun, who allegedly approached them at Mushin Market in Lagos, where they carried out their businesses.
The anti-graft agency explained that the personal details were subsequently used to register four companies—College Compass Eduguide Nigeria Limited, Hortifresh Solutions Nigeria Limited, Eduboost Innovation Nigeria Limited and Fixit Hardware and Tools Nigeria Limited.
The EFCC alleged that corporate bank accounts opened in the names of the companies received a total of $5,296,691 in January 2025.
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The prosecution comes amid sustained efforts by the EFCC to curb the use of shell companies and proxy bank accounts to launder illicit funds.
In recent years, the commission has repeatedly warned Nigerians against selling or surrendering their personal information for company registration or banking purposes, saying criminal syndicates often exploit such details to facilitate financial crimes, exposing their owners to prosecution.
One of the charges against Mr Emmanuel accused him of retaining $826,691 in a Wema Bank account between 1 and 31 January 2025, funds prosecutors said he reasonably ought to have known were proceeds of unlawful activities.
All four defendants pleaded guilty when the charges were read to them.
During the proceedings, the prosecution lawyer, Bilkisu Buhari, reviewed the facts of the cases and urged the court to convict the defendants and impose appropriate sanctions.
Sentences
In his judgement, Mr Ogazi convicted all four defendants on the second count of the charges.
Mr Emmanuel was sentenced to four months’ imprisonment, followed by three months of community service. He was also ordered to forfeit N1 million to the Federal Government.
Ms Garuba received four months’ imprisonment and 15 months of community service. The court also ordered her to forfeit N1 million to the Federal Government within 72 hours.
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Mr Yusuf was sentenced to four months’ imprisonment, three months of community service and ordered to forfeit N800,000.
Mr Ademola was sentenced to four months’ imprisonment, three months of community service and directed to forfeit N700,000 to the Federal Government within 72 hours.
The judge further ordered the convicts to partner with the EFCC in public awareness campaigns on the dangers of indiscriminately selling or sharing personal information with others.
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