Federal High Court
‘Money Laundering’: ICPC to arraign two Abuja residents who illegally received N550 million into their bank accounts
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has said it will on April 29, 2024 arraign Ferdinand Isa and Egbuha Uche before the Federal High Court, Abuja for receiving into their bank accounts N550 million traced to alleged fraud and proceed of criminal activities.
In ICPC’s charge sheet marked FHC/ABJ/CR/150/2021 and seen by Nairametrics on Monday, they were accused of knowingly holding on to illicit funds.
Part of the eight-count charges read,
“That you, ECBUHA ROSELINE UCHE (F) on or about the 4 day June 2020, in Abuja, within the jurisdiction of this honorable Court, transferred the sum of N550,000,000.00 (five hundred and fifty million naira) in your account number 0473407705 domiciled in Guaranty Trust Bank Ltd. to F.B.l Law firm account number 0261696061 with Guarantee Trust Bank Ltd owned and controlled by Ferdinand Isa B when you knew that the said sums were a direct proceeds of criminal activities, fraud and corruption and you thereby committed an offence contrary to Section 15121 (b) and punishable under section 15 (3) of the Money Laundering (Prohibition) Act, 201 as amended).
“That you, BABA ISA FERDINAND (M) on or about the 4th day June 2020, in Abuja within the jurisdiction of this honorable Court, took possession of the sum of N550,000,000.00 (five hundred and fifty million naira) paid into account number 0261696061 with Guaranty Trust Bank Ltd in the name of F.B.I Legal owned and controlled by you when you knew that the said sums were a direct proceeds of criminal activities; to wit; fraud and corruption and you thereby committed an offence.”
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ICPC’s Allegation
In ICPC’s proof of evidence, deposed by Ephraim Otti, the Commission stated that its legal team on the 16th day of March 2020 received a process in suit No. FHC/ABJ/CS/221/2020: between Mrs. Egbuha Roseline Uche V. Guaranty Trust Bank, Independent Corrupt Practices and Other Related Offences Commission (ICPC), Chairman, Independent Corrupt Practices and Other Related Offences Commission, for enforcement of the Fundamental Rights of Mrs. Egbuha, adding that in order to defend the said suit, ICPC team called for the investigation case file to understand the issues involved.
According to Otti, ICPC found out that the woman was a school teacher whose bank accounts recieved over N 500 million within three months in 2019.
The Commission also alleged that Isa who received the monies from the woman hurriedly transferred to a Bureau de Change operator and to his personal bank accounts.
The Commission stated,
“He(Otti) will further testify that upon review of the case file the team found out that Mrs. Egbuha who is a school teacher earning N76,000.00 per month through her salary account domiciled in Union Bank Plc, was linked to another account No. 0473407705 domiciled in Guaranty Trust Bank Plc where various transactions between 15th June 2019 and 5th September 2019 totaling about N540,113,262.17 was found and flagged through intelligence gathering as suspicious transactions.
“He will state that Mrs Egbuha was invited for an interview during which she stated that the said sum was sent to the account by her adopted-son Mr. Chiedozie Ejeaka Fabian who has been living in London for the past 4 years.”
Nairametrics gathered that Justice James Omotosho fixed the date of arraignment for April 29, 2024.
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More Insight
- ICPC is one of the federal government agencies responsble for tracking financial crime.
- ICPC depends on litigation to prove its allegation.
- It is left for the courts to determine the authenticity of the ICPC evidence.
