Abuja Zonal Directorate of the Economic and Financial Crimes Commission (EFCC), has arraigned Rhas Nigeria Limited and its director, Liwa Sarirddine before Justice A.H. Musa of the Federal Capital Territory High Court for fraud.
They were arraigned on a one-count charge, bordering on alleged issuance of dud cheque to the tune of N10 million.
The charge read: “That you Rhas Nigeria limited and Liwa Sarirddine (being the director of the said Rhas Nigeria Limited, sometime in 2020 in Abuja within the judicial division of this Honourable Court did obtain credit from Ismail and Partners in the sum of N10,000,000.00 (Ten million naira) by means of a cheque dated 15th/10/2020 which when presented for payment within three months of the date, was dishonoured and returned on the ground that there was no sufficient credit standing in the account for which the cheque was drawn and you there by committed an offence contrary to Section 1(1) (b) of the Dishonoured Cheque (Offences) Act Cap. D11, Laws of the Federation of Nigeria 2004 and punishable under Section 1(1) (i) and 1(1)(ii) of the same Act.”
Sarirddine pleaded “not guilty” on his behalf and that of the company, following which prosecution counsel Mariya .U. Shariff asked the court for a trial date and urged the court to remand the defendant in a Correctional facility, while the defence counsel applied for the bail of the defendant, which the prosecution did not oppose.
Justice Musa granted the defendant bail in the sum of N5 million with two sureties in like sum, one of whom must be a Level 10 civil servant. Additionally, both sureties must depose to an affidavit which will be verified by the court registrar.
Alleged $5.3m Fraud: EFCC Arraigns Four for Money Laundering in Lagos
The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, on Wednesday, July 29, 2026, arraigned four persons before Justice F. N. Ogazi of the Federal High Court sitting in Ikoyi, Lagos, for alleged money laundering involving a total sum of $5,296,691( Five Thousand, Two Hundred and Ninety Six United States Dollars, Six Hundred and Ninety One cents).
The defendants, Bamidele Ayodele Emmanuel, Abdullah Oriyomi, Garuba Fathiat Funmilayo and Gbenro Victor Ademola, were arraigned separately on a two-count charge each bordering on money laundering, contrary to the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
Count One against Bamidele Ayodele Emmanuel reads: “That you, BAMIDELE AYODELE EMMANUEL, between 1 and 31st January, 2025, in Lagos and within the jurisdiction of this Honourable Court, directly retained the sum of $826,691 (Eight Hundred and Twenty-Six Thousand, Six Hundred and Ninety-One United States Dollars) in your account, No. 0126008755 domiciled in Wema Bank, which you reasonably ought to have known forms part of the proceeds of an unlawful act, and you thereby committed an offence contrary to and punishable under Section 18 of the Money Laundering (Prevention and Prohibition) Act, 2022.”
They all pleaded guilty to the charges when they were read to them.
Following their guilty pleas, prosecution counsel, Bilkisu Buhari, reviewed the facts of the cases before the court. She informed the court that investigations revealed that the defendants admitted surrendering their personal information to one Afeez Animashaun, who approached them at Mushin Market, Lagos, where they conducted their respective businesses.
Buhari further disclosed that investigations established that the defendants’ identities were used to incorporate these companies; College Compass Eduguide Nigeria Limited, Hortifresh Solutions Nigeria Limited, Eduboost Innovation Nigeria Limited, Fixit Hardware and Tools Nigeria Limited, and also open corporate bank accounts through which millions of dollars were received within January 2025.
According to the prosecution, the defendants’ actions provided anonymity for the actual operators of the company and facilitated the movement of suspicious funds through the Nigerian financial system.
She thereafter urged the court to convict the defendants as charged and impose appropriate sentences.
Justice Ogazi remanded the defendants in a Correctional facility and adjourned the matter till Tuesday, August 4, 2026, for judgment.
