The Maiduguri Zonal Directorate of the Economic
and Financial Crimes Commission, EFCC, has arraigned Ibrahim Lafiya,
Chief Executive Officer, CEO, I.U Lafiya Maize Processing
Ventures and I.U Maize Processing Ventures alongside his companies before
Justice Fadimatu Aminu of the Federal High Court sitting in Damaturu, Yobe
State.
The defendant was arraigned on a one- count charge
bordering on money laundering to the tune of N21, 500,000 (Twenty One
Million, Five Hundred Thousand Naira only).
The lone count reads: “That you, Ibrahim Umar Lafiya,
being the C.E.O and Alter Ego of I.U Lafiya Maize Processing Ventures and I.U
Maize Processing Ventures, a company registered in Nigeria between
November to December, 2023 at Potiskum Yobe State, within the
jurisdiction of this Honorable Court, directly converted the aggregate sum of
N21,500,000.00 (Twenty One Million Five Hundred Thousand Naira), which
you ought to have known formed part of processeds of an unlawful act to wit:
Money Laundering and thereby committed an offence contrary to
Section 18 (1) (b) and punishable under Section 18(3) of the Money Laundering
(Prevention and Prohibition) Act 2022."
The defendant pleaded not guilty when the charge was
read to him.
In view of his plea, counsel to the EFCC,
Mukhtar Ali Ahmed prayed the court for a trial date. While
defence counsel, M.S Baba, informed the court of an application of the
defendant, urging the court to grant him bail on liberal terms.
Justice Aminu after listening to the arguments
of the two counsels on bail application, admitted the defendant to bail
in the sum of N6,000,000 (Six Million Naira) with two sureties in like sum. One
of the sureties must be a traditional ruler domiciled in Damaturu.
The judge ordered the defendant to be remanded in EFCC
custody pending the fulfilment of his bail conditions and adjourned the
matter till June 17, 2025 for trial.
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