Reported by: Ijeoma G | Edited by: Oravbiere Osayomore Promise.
LAGOS, Nigeria – The Lagos Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has arraigned a man, Fidelix Samuel Ebuka, before a Federal High Court in Lagos over an alleged money laundering offence involving N90.9 million. Ebuka was brought before Justice Yellim Bogoro on Wednesday, June 10, 2026, on a one-count charge bordering on the retention of proceeds of unlawful activities amounting to N90,989,517.
According to the charge sheet, the defendant allegedly retained the sum in his Union Bank account number 0069938215 on or about April 15, 2026, despite having reasonable grounds to know that the funds formed part of the proceeds of an unlawful act. The charge stated that the alleged offence contravenes Section 18(2)(d) and is punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022. The charge reads in part: “That you, Fidelix Samuel Ebuka, on or about April 15, 2026, in Lagos, within the jurisdiction of this Honourable Court, directly retained N90,989,517 in your Union Bank account number 0069938215, which proceeds you reasonably ought to have known formed part of the proceeds of an unlawful act, and you thereby committed an offence contrary to Section 18(2)(d) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”
When the charge was read to him, Ebuka pleaded not guilty. Following his plea, the prosecution counsel, H.U. Kofarnaisa, urged the court to fix a trial date and remand the defendant in a correctional facility pending the conclusion of the case. However, the defence counsel, Bimbo Ogunlaja, requested an adjournment to enable the defence to move an application for the defendant’s bail.
Justice Bogoro subsequently adjourned the case until June 29, 2026, for the hearing of the bail application and the commencement of trial. The court also ordered that Ebuka be remanded in a correctional facility pending the determination of his bail application.
The EFCC has intensified its crackdown on money laundering and financial crimes in recent months, with the Lagos Zonal Directorate recording several high-profile prosecutions. Money laundering remains a significant challenge in Nigeria, with the EFCC working to trace and recover proceeds of crime while prosecuting offenders under the Money Laundering (Prevention and Prohibition) Act, 2022, and other relevant statutes.
The case against Ebuka is part of the commission’s broader efforts to ensure that individuals who retain funds reasonably suspected to be proceeds of unlawful activities are held accountable, regardless of how the funds were acquired.
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