N1.2bn Fraud: EFCC Arraigns POS Operator, Two Others

The Economic and Financial Crimes Commission, EFCC, Lagos Zonal office, on Thursday, June 28, 2018, arraigned the trio of Ifeanyi Nwaneri, Omede Silas Shehu and Monday Akor before Justice M.S. Hassan of the Federal High Court sitting in Ikoyi, Lagos State on an 11-count charge bordering on money laundering to the tune of N1, 231,105,297.80(One Billion, Two Hundred and Thirty-one Million, One Hundred and Five Thousand, Two Hundred and Ninety- seven Naira, Eighty Kobo).

 
The first defendant, Nwaneri, a customer with Access Bank Plc, was alleged to have fraudulently carried out several transactions on the Point of Sales, POS, terminal enabled for international transactions/ cards, which was issued to him by the bank.

 

 

At the time of his arrest, Nwaneri was said to have withdrawn a sum of N532, 929,914.91 (Five Hundred and Thirty-two Million, Nine Hundred and Twenty-nine Thousand, Nine Hundred and Fourteen Naira, Ninety-one Kobo), leaving a balance of N677, 856,826.80 (Six Hundred and Seventy-seven Million, Eight Hundred Fifty-six Thousand, Eight Hundred and Twenty-six Naira, Eighty Kobo) in his account.

 

 

One of the counts reads: “ That you, Ifeanyi Nwaneri, Omede Silas Shehu and Sunday Akor, between August 5, and September 18, 2017 within the jurisdiction of this Honourable court, conspired amongst yourselves to retain the sum of N1, 231,105, 297.88(One Billion, Two Hundred and Thirty-one Million, One Hundred and Five Thousand, Two Hundred and Ninety- seven Naira, Eighty Kobo) only, which sum you reasonably ought to know forms part of the proceeds of unlawful activity to wit: stealing, and thereby committed an offence contrary to Section 18(a) of the

 

 

Money Laundering (Prohibition) Amendment Act, 2012 and punishable under Section 15(3) and 4 of the same Act.”

 

 

The defendants pleaded not guilty when the charge was read to them.

 

 

In view of their pleas, the prosecution counsel, Nnaemeka Omewa, asked for a trial date and prayed the court for the defendants to be remanded in prison custody.

 

 

However, counsel to the defendants told the court that they had filed applications for bail on behalf of their clients and pleaded with the court for a short date to hear their applications.

 

 

Consequently, Justice Hassan adjourned the matter to July 18, 2018 for hearing of the bail applications and for continuation of trial.

 

 

The defendants were ordered to be remanded in prison custody.

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