Four plead guilty as EFCC arraigns suspects over alleged $5.3m money laundering

The Economic and Financial Crimes Commission (EFCC) has arraigned four persons before the Federal High Court in Ikoyi, Lagos, over an alleged money laundering scheme involving $5,296,691.

The defendants, Bamidele Ayodele Emmanuel, Abdullah Oriyomi, Garuba Fathiat Funmilayo, and Gbenro Victor Ademola, were separately arraigned before Justice F. N. Ogazi on two-count charges bordering on money laundering.

According to EFCC spokesman Dele Oyewale, the charges were filed under the Money Laundering (Prevention and Prohibition) Act, 2022.

One of the charges alleged that Bamidele Ayodele Emmanuel retained $826,691 in a Wema Bank account between 1 and 31 January 2025, funds the commission said he reasonably ought to have known were proceeds of unlawful activities.

The four defendants pleaded guilty when the charges were read to them.

Reviewing the facts of the cases, EFCC prosecuting counsel Bilkisu Buhari told the court that investigations showed the defendants surrendered their personal information to one Afeez Animashaun, who allegedly approached them at Mushin Market in Lagos, where they carried out their businesses.

She said investigations revealed that their identities were used to register companies, including College Compass Eduguide Nigeria Limited, Hortifresh Solutions Nigeria Limited, Eduboost Innovation Nigeria Limited, and Fixit Hardware and Tools Nigeria Limited, and to open corporate bank accounts through which millions of dollars passed in January 2025.

Buhari argued that the arrangement enabled the actual operators of the companies to conceal their identities while moving suspicious funds through Nigeria’s financial system.

She urged the court to convict the defendants based on their guilty pleas and impose appropriate sanctions.

Justice Ogazi remanded the defendants in a correctional facility and adjourned the case until 4 August 2026 for judgment.