From Sola Ojo, Abuja
The Maiduguri Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) arraigned Ibrahim Lafiya, CEO of I.U Lafiya Maize Processing Ventures and I.U Maize Processing Ventures, alongside his companies, before Justice Fadimatu Aminu of the Federal High Court in Damaturu, Yobe State, on a one-count charge of money laundering involving N21.5 million.
The charge 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 proceeds 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.”
EFCC Head of Media and Publicity, Dele Oyewale, stated that Lafiya pleaded not guilty. EFCC counsel Mukhtar Ali Ahmed requested a trial date, while defence counsel M.S. Baba sought bail on liberal terms.
Justice Aminu granted bail at N6 million with two sureties, one a traditional ruler in Damaturu. Oyewale noted, “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.”