Money Laundering: Court Convicts Businessman

EFCC Press Release

 

The Economic and Financial Crimes Commission, EFCC today May 24, 2016, successfully secured the conviction of one Agumandu Christopher Nnamdi, before Justice F.N Yunusa of the Federal High Court Enugu, Enugu on one count charge bordering on Money Laundering.

 The convict was arrested by a team of Presidential Trans-border Task force of the Nigeria Customs Service on the 5^th September, 2015 at the Akanu Ibiam International Airport Enugu for falsely declaring the sum of $9,500.00(Nine Thousand, Five Hundred United State Dollars) out of the total sum of $51,000.00 (Fifty One Thousand United State Dollars) on his way to China on an alleged business trip, an offence contrary to the Foreign Exchange (Monitoring and Miscellaneous) Act, Cap F34 Laws of the Federation of Nigeria, 2012.

He was subsequently handed over to the Commission for prosecution. The count reads:

“That you Agunmandu Christopher Nnamdi on the 5^th of September, 2015 at the Akanu Ibiam International Airport, Enugu within the Jurisdiction of the Federal High Court of Nigeria, Enugu Judicial Division  while transporting in cash the sum of $51,000(Fifty One Thousand US dollars)only from Nigeria to China, falsely declared to the Nigerian Customs Service the sum of $9,500(Nine Thousand Five Hundred Dollars)only, instead of the sum of $51,000(Fifty One Thousand US dollars) as required under section 12 of the Foreign Exchange(Monitoring and Miscellaneous) Act, Cap F34 Laws of the Federation of Nigeria,2004 and thereby committed an offense punishable under Section 2(5) of the Money Laundering Prohibition Act,2011 as amended by Section 2 of the Money Laundering Prohibition (Amendment) Act, 2012”.

The prosecuting counsel R.E Ajobiewe told the Court that the accused person has entered a plea bargain agreement in line with Section 272 of the Administration of Criminal Act and applied that the Court adopt the plea bargain agreement.

The lead defense counsel, A.O.K  Agbawo however prayed the Court to tamper justice with mercy adding that the accused is a hardworking young man and the said money was legitimately earned. He further applied that the accused person’s passport and the said money be returned to him.

The Court however found the accused person guilty, dismissed the application of the defense counsel and ordered that the undeclared sum of money totaling $41,000USD be forfeited to the Federal Government.

Wilson Uwujaren

Head, Media & Publicity

24^th May, 2016