Kingsley Ifeanyi Adonu, a telecom entrepreneur and alleged Ponzi scheme operator has been arraigned by the {Economic} and {Financial} Crimes Fee (EFCC) for alleged cash laundering.
Adonu is standing trial on a five-count cost regarding cash laundering involving over ₦10 billion earlier than Justice Chukwujekwu Aneke of the Federal Excessive Courtroom in Ikoyi, Lagos.
In accordance with the cost sheet, Adonu is accused of knowingly taking possession of greater than ₦10 billion suspected to be proceeds of criminality, particularly stealing.
The funds have been allegedly channeled by means of a number of {bank} accounts: ₦1.73 billion by way of Fidelity Bank Plc, ₦6.79 billion by means of Guaranty Trust {Bank} Plc, ₦959 million by way of First City Monument Bank Plc, and ₦530 million by means of Zenith Bank Plc.
One of many fees reads: “That you just, Adonu Kingsley Ifeanyi, between 4th June, 2021 and twenty third July, 2021, in Lagos inside the jurisdiction of this Honourable Courtroom, did take possession of the overall sum of ₦1,076,337,842 (One Billion, Seventy-Six Million, Three Hundred and Thirty-Seven Thousand, Eight Hundred and Forty-Two Naira) by means of a {bank account} with account identify ‘S.Cellular Netzone Restricted’ domiciled in Fidelity Bank Plc., which sum you knew varieties a part of the proceeds of your illegal exercise to wit: stealing, and also you thereby dedicated an offence opposite to Part 15(2)(d) of the Cash Laundering (Prohibition) Act, 2011 (as amended) and punishable below Part 15(3) of the identical Act.”
Depend two states that between June 2 and July 14, 2021, Adonu took one other ₦656.4 million by means of the identical Fidelity Bank account, additionally suspected to be legal proceeds.
Depend three accuses him of receiving ₦6.79 billion between January 15, 2021, and April 14, 2022, by way of a Guaranty Trust {Bank account} registered to S.Cellular Netzone Restricted, which the EFCC believes was used to launder illicit funds.
In depend 4, it’s alleged that between March 23 and July 26, 2022, Adonu moved ₦959 million by means of a First Metropolis Monument {Bank account} in the identical firm’s identify, funds additionally suspected to be proceeds of crime.
Depend 5 cites that between March 15 and March 31, 2022, ₦530 million was moved by means of a Zenith Bank account operated below Setbiz Datalink Idea Restricted. The funds are believed to have been stolen.
The offences, in line with the EFCC, contravene Part 15(2)(d) of the Cash Laundering (Prohibition) Act, 2011 (as amended), and are punishable below Part 15(3) of the identical Act.
Adonu pleaded “not responsible” to all the costs after they have been learn to him in courtroom.
Following his plea, prosecution counsel, S.I. Suleiman, requested a trial date and urged the courtroom to remand the defendant within the custody of the Nigerian Correctional Providers (NCoS) pending trial.
Nevertheless, defence counsel Chibuike Opara appealed to the courtroom to permit Adonu stay in EFCC custody pending the submitting and willpower of a bail software.
Suleiman objected, arguing that the suitable place for a defendant after arraignment is the correctional centre.
Justice Aneke subsequently ordered that Adonu be remanded on the Ikoyi facility of the Nigerian Correctional Providers and adjourned the matter to July 4, 2025, for the listening to of his bail software.
