Crime Headline Local News Nigeria

Five directors risk jail terms over money laundering

A Federal High Court sitting in Abuja has adjourned until June 19 for the arraignment of Directors in five companies for money Laundering and breach of Public procurement law, in relation to a multi-Billion naira contract in the Cargo Tracking Note.

The Managing Director of Nigerian Rural Electrification Agency, Ahmed Salihijo and four other companies are among those to be arraigned.

The case was instituted against the five companies for their non-declaration of activities of their companies as specified under the Money Laundering (Prohibition) Act of 2011 and punishable under the same Act.

Counsel to the Plaintiff, Bala Sanga said, during an interview with journalists, that he filed a criminal charge against the five companies because they broke the provisions of the law.

Justice James Omotoso adjourned for arraignment after listening to parties in the matter.

Reporting by Ifeoma Nwovu; Editing by Oluwaseyi Ajibade and Tony Okerafor