Saturday, July 13, 2024

 

EFCC Re-arraigns Father, Son For Laundering N5. 6bn

Must Read

Gov. Abiodun Celebrates Literary Icon, Wole Soyinka At 90

  Ogun State Governor Prince Dapo Abiodun has described Nobel Laureate, Professor Wole Soyinka, as a literary icon and a...

Olakulehin Crowned 43rd Olubadan

Oyo State Governor, Seyi Makinde, on Friday, presented the Staff of Office and the Instrument of Office to the...

90th Birthday: Tinubu names National Theatre After Wole Soyinka

President Bola Tinubu has named the National Arts Theatre in Iganmu, Lagos, after Nobel Laureate, Professor Wole Soyinka. Tinubu announced...

 

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.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -
Latest News

Gov. Abiodun Celebrates Literary Icon, Wole Soyinka At 90

  Ogun State Governor Prince Dapo Abiodun has described Nobel Laureate, Professor Wole Soyinka, as a literary icon and a...

Olakulehin Crowned 43rd Olubadan

Oyo State Governor, Seyi Makinde, on Friday, presented the Staff of Office and the Instrument of Office to the new Olubadan of Ibadanland, Oba...

90th Birthday: Tinubu names National Theatre After Wole Soyinka

President Bola Tinubu has named the National Arts Theatre in Iganmu, Lagos, after Nobel Laureate, Professor Wole Soyinka. Tinubu announced this in a letter he...

Customs Confiscates 85 Drums, 795 Cans  Conveying 36,875 Litres Of Petrol To Cameroon

The Adamawa/Taraba Area Command of Nigeria Customs Service (NCS) has seized 85 200-litre drums of petrol being illegally conveyed to the Republic of Cameroon. The...

Nigeria Reaches Oil Supply Deal, Ending Dispute With Producers

Nigeria's oil regulator has struck a deal with producers to allow sales of crude to domestic refiners at market prices, ending a supply dispute...
- Advertisement -

More Articles Like This

- Advertisement -