Reported by: Oahimire Omone Precious | Edited by: Gabriel Osa
Kaduna, Nigeria — The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has arraigned Amadu Sule, Managing Director of TMDK Terminal Limited and a known associate of former Kaduna State Governor Nasir el-Rufai, over an alleged ₦311 billion money laundering and unlawful proceeds of fraud scheme, in a case that has again spotlighted corruption enforcement in Nigeria’s anti-graft landscape.
Sule appeared on Monday before the Federal High Court sitting in Kaduna to face a five-count charge brought by the ICPC under provisions of the Money Laundering (Prevention and Prohibition) Act, 2022, including accusations of money laundering and unlawful retention of funds believed to be proceeds of unlawful activities.
According to the charge sheet filed by the anti-graft agency’s High-Profile Prosecution Department, the funds — traced to more than ₦311 billion — were allegedly controlled by Sule and held in accounts across Fidelity Bank Plc, Stanbic IBTC Bank Plc and Providus Bank Limited. Prosecutors contend these sums came from several corporate entities including INT Towers Limited, IHS Nigeria Limited, IHS Towers NG Limited and Boaz Commodities Limited, purportedly as payments for the supply of petroleum products.
The Commission’s case contends that Sule “reasonably ought to have known” that the funds were the proceeds of unlawful activity and that he, along with TMDK Terminal Limited, unlawfully retained tax components from the transactions — a charge that attracts enhanced penalties under Sections 18(3) and 18(4) of the Act due to the scale and nature of the alleged misconduct.
The alleged offences, if proven, represent one of the highest-value money laundering cases brought before a Nigerian court in recent years, drawing intense public scrutiny due to the size of the alleged sums and the political and business connections surrounding the defendant.
At the arraignment, no plea was taken on the substantive charges, and Sule’s legal team requested time to argue a bail application on his behalf. The court subsequently adjourned the matter to January 15, 2026, for the hearing and determination of that bail request.
Sule’s association with former Governor El-Rufai — who led Kaduna State from 2015 to 2023 — has made the case particularly notable in political and legal circles, though El-Rufai himself is not named as a defendant in the current proceedings. Observers note that previous anti-graft actions have similarly involved individuals linked to past government administrations, reflecting broader efforts by Nigeria’s enforcement agencies to pursue high-profile corruption cases.
Legal analysts describe the case as both legally complex and of significant public interest, highlighting the challenges Nigerian authorities face in prosecuting alleged financial crimes with cross-sector and high-value components. They also say it underscores the role of strengthened anti-money-laundering laws in equipping enforcement bodies like the ICPC to pursue elaborate financial misconduct.
As the case advances, attention is likely to remain focused on court proceedings and whether Sule’s bail will be granted, as well as subsequent filings and disclosures during trial. The outcome could set important precedents in enforcement of Nigeria’s money-laundering statutes and influence future anti-corruption strategies.
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