Justice Ismail Ijelu of the Lagos State High Court, Ikeja, Lagos, yesterday, remanded two businessmen, Akeem Adekunle and Kayode Olusola Ayodeji in a Correctional facility over alleged N2.8 billion money laundering.
They were remanded following their arraignment by the Financial Crimes Commission (EFCC) on amended three-count charge bordering on laundering of funds and conspiracy to launder funds obtained through unlawful activity.
Their offences were contrary to the provision of Section 7 and 8 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
The prosecution told the court that the suspects, with others; Odunayo Rashidat Popoola (at large) and Afolabi Olushola Sunday a. k. a. ‘Asiwaju Something’, who is also at large between September 21, 2023 and October 4, 2023, conspired among themselves in Lagos to commit the crime.
They were said to have committed 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.
They, however, pleaded not guilty to the three-count charge.
Following their plea, the prosecution prayed the court for a trial date, and urged the court to remand the defendants in the Correctional facility pending the determination of the charge.
However, the first defendant’s counsel, Grace Adenubi, prayed for a stand down of the case for her to file a bail application, which was declined by the court.
Also, the second defendant’s counsel, Catherine Nwagbara, who was yet to file a bail application, prayed for a short date for her to file the application and serve same to the prosecution.
After listening to their prayers, Justice Ijelu adjourned to May 6, for trial and ordered that the defendants be remanded in correctional facility.
