Court Remands Businessmen For Laundering N2.8bn

Justice Ismail Ijelu of the Lagos State High Court in Ikeja has remanded two businessmen, Akeem Adekunle and Kayode Ayodeji, in prison over alleged conspiracy and laundering the sum of N2.8 billion.
Justice Ijelu ordered that the two men be kept at the Ikoyi Custodial Centre of the Nigerian Correctional Services after they were arraigned by the Financial Crimes Commission (EFCC).

The anti-graft agency docked the defendants on an amended three-count charge of money laundering and conspiracy to launder funds obtained through unlawful activity.
The prosecutor, Suleiman Suleiman, had earlier told the judge that the defendants, with others, now at large between September 21, 2023, and October 4, 2023, in Lagos, conspired with one another to commit a 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, to disguise the illegal origin of same.”

Suleiman named those at large as Odunayo Rashidat Popoola and Afolabi Olushola Sun, day aka “Asiwaju Something”.

He further claimed that Akeem Adekunle, sometime in June 2023 in Lagos, procured one Esther Titilayo to open a bank account promoting Afolabi Olushola Sunday in carrying on with stealing.”

The defendants, however, pleaded not guilty to the charge.

Based on their plea, the prosecutor prayed the court for a trial date and for the court to remand them in a correctional centre pending the determination of the charge.

The counsel to the second defendant, Catherine Nwagbara, asked the court for a short date to file a bail application on behalf of her client.

After listening to the lawyers, Justice Ijelu adjourned the case to May 6 for trial.