The Economic and Financial Crimes Commission (EFCC) Wednesday, re-arraigned a man and his son at the Federal High Court in Lagos for allegedly laundering N5.6billion.
First defendant Adewale Daniel Jayeoba, his dad (second defendant) Emmanuel Jayeoba and their firm Wales Kingdom Capital Limited (third defendant) were first arraigned on August 2, 2022 before Justice Nicholas Oweibo on a two-count charge of carrying out banking business without appropriate licence
They pleaded ‘not guilty’ and were granted bail
On Wednesday, the EFCC brought the Jayeobas before Justice Chukwujekwu Aneke.
They were re-arraigned on a 14-count amended charge of alleged money laundering to the tune of N5,697,029,685billion.
One of the counts reads: “That you, Adewale Daniel Jayeoba and Emmanuel Adewunmi Jayeoba, between 2019 and 2020, in Lagos, within the jurisdiction of this Honorable Court, conspired amongst yourselves to use the aggregate sum of N5.697,029,685 which sum you reasonably ought to have known forms part of your unlawful activity to wit: carrying on banking business without valid license and you thereby committed an offence contrary to Section 18 (a) of the Money Laundering (Prohibition) (Amendment) Act, 2012 and punishable under Section 15(3) of the same Act.”
They pleaded “not guilty“.
Prosecution counsel Chinenye Okezie asked the court for a trial date and also prayed that the defendants be remanded in correctional service custody.
But defence counsel I.A. Raji informed the court that the defendants were granted bail by Justice Nicholas Oweibo but were unable to perfect the bail terms.
Raji prayed the court for a short date for the hearing of a bail variation application.
Justice Aneke adjourned till October 17, 2022 and December 6, 2022 for hearing of the bail application and trial respectively and remanded the defendants in correctional service custody.
