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Former Kwara commissioner in EFCC custody for allegedly Laundering N411 million

Immediate past Commissioner for Finance in Kwara state, Engr Demola Banu, was on Wednesday ordered to be remanded in the custody of the Economic and Financial Crimes Commission (EFCC) , over alleged laundering of N411 million by an Ilorin High Court .

Banu was arraigned alongside an official of Travel Messenger Company Limited, one Olarewaju Adeniyi on a nine-count charge before Justice Babangana Ashigar led Court.

The EFCC alleged that the defendants conspired among themselves to launder the sum of about four hundred and eleven million naira belonging to the Kwara State Government.

Count one of the charges reads “That you, Olarewaju Adeniyi, Ademola Banu and Travel Messenger Limited between January to December 2018 in Ilorin within the jurisdiction of this honourable Court conspired among yourselves to commit an offense, with conversion of the sum of #411,000,000.00 ( four hundred and eleven million naira) only, property of Kwara State Government, which sum you reasonably ought to know was derived from fraud and thereby committed an offense contrary to section 18(a) of the money laundering (prohibition) (amendment) act, 2012 and punishable under section 15(3) and (4) of the same act ”

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