Justice Ayokunle Faji of the Federal High Court
sitting in Ikoyi, Lagos, on Thursday, July, 24, 2025, convicted the duo of Dr.
Olufemi Martins Thomas, a former Executive Secretary, National Health Insurance
Scheme, NHIS, and one Kabiru Sidi, a Bureau De Change Operator, for
$2,198,900.00 ( Two million, One Hundred and Ninety Eight Thousand,
Nine Hundred United States Dollars) fraud.
Thomas was arraigned alongside Sidi on an amended
seven-count charge bordering on money laundering to the tune of $2,198,900.00
brought against them by the Lagos Zonal Directorate 1 of the Economic and
Financial Crimes Commission, EFCC.
Six of the counts against Thomas bordered on money
laundering and transferring, in cash, proceeds of unlawful activities, contrary
to the provisions of the Money Laundering (Prohibition) Act, 2011 as
amended.
The second defendant, however, was prosecuted only on
count six bordering on making false statements to an official of the EFCC.
The charge against Thomas reads: “That you, Dr.
Martins Oluwafemi Thomas (a.k.a Dr. Ike), the former Executive Secretary of the
National Health Insurance Scheme, on or about the 3rd of July, 2015 at Lagos,
within the jurisdiction of this Honourable Court, procured Mrs. Femi Thomas to
disguise the unlawful origin of the sum of $2, 198, 900 (Two million, One
Hundred and Ninety-eight Thousand, Nine Hundred United States Dollars)
and you thereby committed an offence contrary to Section 18 and punishable
under Section 15(2) (a) and (3) of the Money Laundering (Prohibition) Act, 2011
(as amended by Act No. 1 of 2012).”
The charge against Kabiru reads: That you, Kabiru Sidi
on or about the 15th of July, 2015 at the office of Economic and Financial
Crimes Commission, 15 A Awolowo Road, Ikoyi Lagos within the jurisdiction
of this Honourable Court made a false statement to Afeez Mustapha, an
investigating officer with the Economic and Financial Crimes Commissionto the
effect that you gave over Two Million United States dollars to Bamidele Ibiteye
and you thereby committed an offence contrary to Section 39(2) (b) and
punishable under Section 39(2) (c) of the Economic and Financial Crimes
Commission (Establishment) Act, 2004.”
They pleaded “not guilty” to the charge, thereby
leading to their full trial.
At the last adjourned sitting on Thursday, May 29,
2025, the prosecution counsel, Ekele Iheanacho SAN, in his final written
addresses, dated May 5 and 9, 2025, submitted that “In line with the
charge, the prosecution called six witnesses, and the defendant made a no-case
submission, which was overruled and overruled by the Appellate Court on the
grounds that the prosecution had established a prima facie case against the
defendant.
“The defendant entered his defence because the law
required him to show how he acquired the funds legitimately. Part of his
evidence was that he made the funds heavily from his farming businesses. The
evidence of his farming was contained in his financial statement.
While closing his argument, he had also submitted that
“This is a case of money laundering, where the issue of concealment of
transaction is paramount and that is why the law requires such transactions to
go through financial institutions so that there will be a trial. Any
application that suggests otherwise will defeat the basis of Section 1 of the
Money Laundering Act”
He had, therefore, urged the court to discountenance
the submissions of the first and second defendants and convict them as
charged.
Delivering judgment today, the judge found Thomas
“guilty of transacting beyond threshold without going through a financial
institution” and sentenced him to a fine of N10,000,000.00 (Ten Million
Naira).
The second defendant, Sidi, was found guilty of making
a false statement to an investigating officer with the EFCC and sentenced to a
fine of N100,000.00
Justice Faji, however, discharged Thomas on counts
one, two, three, four and seven of the charge.
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