News
EFCC Docks Bank Employee & His Accomplice over Alleged Illegal Transfer of $1 Million
Sada Adamu and Babatunde Faro
The Economic and Financial Crimes Commission (EFCC), on Friday, arraigned Sada Adamu and Babatunde Faro, a bank employee at the Federal High Court Maitama in Abuja over charges of money laundering, false declaration of assets and fraud to the tune of $1 million.
One of the counts read:
That you, Sada Adamu, on or about the 2nd day of March 2015 in Abuja made a cash payment of One Million Dollars being an amount exceeding Five Million Naira to Babatunde Faro.
You thereby committed an offence contrary to Section 1(a) of the Money Laundering Act 2011 as amended and punishable under Section 15 (2) (b) of the same Act.
However, the accused persons pleaded not guilty to the charges.
Counsel to the accused, W. Y. Maman and W. T. Iorshe prayed the court to grant them bail pending the commencement of trial.
Counsel to EFCC, S. A. Ugwuebulam, asked the court for a date to commence trial.
Justice Nnamdi Dimgba adjourned the case to November 14 to rule on the application for bail and ordered the accused persons to be remanded in Kuje prison.
