The Economic and Financial Crimes Commission (EFCC) has arraigned four persons before the Federal High Court in Ikoyi, Lagos, over an alleged $5.29 million money laundering scheme.
The defendants — Bamidele Ayodele Emmanuel, Abdullah Oriyomi, Garuba Fathiat Funmilayo and Gbenro Victor Ademola — were separately arraigned before Justice F. N. Ogazi on two-count charges bordering on money laundering under the Money Laundering (Prevention and Prohibition) Act, 2022.
All four pleaded guilty to the charges.
According to the EFCC, Emmanuel allegedly retained $826,691 in his Wema Bank account in January 2025, despite allegedly knowing the funds were proceeds of unlawful activities.
The commission told the court that investigations showed the defendants provided their personal details to one Afeez Animashaun, who allegedly recruited them at Mushin Market, Lagos.
The EFCC said their identities were used to register companies, including College Compass Eduguide Nigeria Limited, Hortifresh Solutions Nigeria Limited, Eduboost Innovation Nigeria Limited and Fixit Hardware and Tools Nigeria Limited. Corporate bank accounts were subsequently opened for the firms and allegedly used to receive millions of dollars within January 2025.
The prosecution argued that the arrangement concealed the identities of the actual operators of the companies and facilitated the movement of suspicious funds through Nigeria’s financial system.
Following the guilty pleas, EFCC counsel Bilkisu Buhari urged the court to convict the defendants and impose appropriate sentences.
Justice Ogazi ordered that the defendants be remanded in a correctional facility and adjourned the case until August 4, 2026, for judgment.