The Economic and Financial Crimes Commission (EFCC) on Thursday, arraigned an energy firm, TOF Energy Company Limited, before a Lagos Federal High Court, for allegedly laundered the sum of $4, 920, 500 million.
The EFCC lawyer, Mr. Rotimi Oyedepo (SAN), told the court that the company committed the offences between August 17 and September 6, 2018.
Precisely, Oyedepo (SAN) told the court that the energy company retained the sum of $9,985.00 USD; $629,875.00 USD; $499,975.00 USD; $549,975.00 USD; $510,575.00 USD; $1,199,975.00 USD and $1,519,975.00 USD, within the above mentioned period.
The prosecutor also told the court the the said illicit funds were warehoused in the company’s domiciliary account number 1771453359 with Polaris Bank Limited.
He told the court that the company crimes contravened sections 18(a) and 15(2)(d) of the Money Laundering (Prohibition and Prevention) Act, 2014 (as amended) and punishable under section 15 (2) (d} of the same act.
He also told the court that since the company is not a juristic person, a plea of guilty should be entered against it.
Justice Aneke acceded to the prosecutor’s request and entered guilty plea against the company.
However, lawyer to the company, Mr. Bolaji Kuti, in his response to the charges, told the court that he has filed a Preliminary Objection against the charges and same has been served on the prosecution.
The prosecutor, Oyedepo (SAN) admitted being served with the company’s Preliminary Objection, but told the court that he will time to go through its and file his response. He thereafter asked the court for a date.
Consequently, by the agreement of counsel, Justice Aneke adjourned the matter till February 5, 2024, for hearing of the company’s Preliminary Objection to the charge.
