EFCC Arraigns Two Suspects In Lagos For N2.7bilion Money Laundering

The Lagos State Zonal Command of the Economic and Financial Crimes Commission (EFCC) has brought charges against two individuals, Akeem Adekunle and Kayode Olusola Ayodeji, for their alleged involvement in N2.7 billion money laundering.

Adekunle and Ayodeji were arraigned before Justice I.O.Ijelu of the Lagos State High Court sitting in Ikeja, on an amended three-count charge bordering on laundering of funds and conspiracy to launder funds to the tune of N2,737,784,800.

One of the counts 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 from the unlawful activity of Afolabi Olushola Sunday, with the aim of disguising the illegal origin of same."

Another count charge against the defendants 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 unlawful activity to wit: Stealing."

However, the defendants pleaded "not guilty" to the charges when they were read to them.

Following their pleas, the prosecution counsel, S. I. Suleiman, asked the court for a trial date and further prayed the court that the defendants be remanded in the correctional centre.

When the counsel to the first defendant, Grace Adenubi, asked the court to stand down the matter to enable her file a bail application on behalf of her client, the Judge frowned at her request.

Counsel to the second defendant, C.V. Nwagbara, did not have a formal bail application before the court, hence, she prayed the court for a short date to enable her to file it.

Justice Ijelu adjourned the case till May 6, for commencement of trial and ordered that the defendants be remanded at a Correctional facility.