TWO ARE ARRESTED BY THE EFCC IN LAGOS REGARDING ALLEGED N2.7 BILLION MONEY LAUNDERING

Babatunji Wusu –

Trials for One Akeem Adekunle and Kayode Olusola Ayodeji are presently taking place in Lagos over allegations of N2.7 billion in money laundering.

The Lagos Zonal Command of the Economic and Financial Crimes Commission (EFCC) arraigned the accused on Monday, March 25, 2024, before Justice I.O. Ijelu of the Lagos State High Court, which is located in Ikeja, Lagos.

The Lagos Zonal Command of the Economic and Financial Crimes Commission (EFCC) arraigned the accused on Monday, March 25, 2024, before Justice I.O. Ijelu of the Lagos State High Court, which is located in Ikeja, Lagos.

Two billion seven hundred and thirty-seven million, seven hundred and eighty-four thousand, eight hundred Naira, or N2,737,784,800.00, was the amount of money laundering and conspiracy to launder that the suspects were charged with on an amended three-count charge.

One of the counts against them reads: “That you, Akeem Adekunle, Kayode Olusola Ayodeji, Odunayo Rashiday Popoola (at large) and Afolabi Olushola Sunday a.k.a. ‘Asiwaju Something’ (at large), between 21st September 2023 and 4th October 2023, in Lagos, within the jurisdiction of this Honourable Court, conspired amongst yourselves to commit felony to wit: transferring property derived from illegal act to the tune of N2,737,784,800.00 (Two Billion Seven Hundred and Thirty-Seven Million, Seven Hundred and Eighty-Four Thousand, Eight Hundred Naira) from the unlawful activity of Afolabi Olushola Sunday, with the aim of disguising the illegal origin of same”.

Another count reads: “That you, Akeem Adekunle, sometime in June 2023 in Lagos, within the jurisdiction of this Honourable Court, procured one Esther Titilayo to open an Access Bank account with the intent of promoting Afolabi Olushola Sunday, a.k.a. ‘Asiwaju Something’ in carrying on of unlawful activity to wit: Stealing.”

When the charges were read to the defendants, they entered a “not guilty” plea.

S. I. Suleiman, the prosecution’s attorney, asked for a trial date and advocated that the defendants be held in the penitentiary facility in light of their pleas.

The judge rejected Grace Adenubi’s request for the court to adjourn the case so that her attorney may submit a bail application on her client’s behalf. Grace Adenubi is the first defendant.

C.V. Nwagbara, the second defendant’s attorney, failed to submit a formal bail request to the court. She therefore asked for a short deadline so that she could file it.

After hearing from both sides, Justice Ijelu ordered that the accused be placed under remand in a correctional facility and postponed the trial until May 6, 2024.