The Economic and Financial Crimes Commission (EFCC) has filed an appeal challenging the acquittal of Adeyemi Ikuforiji, former Speaker of the Lagos State House of Assembly, on money laundering charges. Ikuforiji and his former aide, Oyebode Atoyebi, were initially charged in 2012 with a 54-count charge involving N338.8 million in money laundering.
The EFCC’s appeal argues that the trial court erred in its judgment, specifically regarding the thresholds for transactions and the acceptance of cash payments without going through financial institutions, contrary to the Money Laundering Acts of 2004 and 2011. The commission contends that the trial judge ignored evidence presented during the trial.
The case has undergone multiple legal proceedings. Initially, Ikuforiji and Atoyebi were arraigned on March 1, 2012, on a 20-count charge bordering on misappropriation and money laundering. They were granted bail, but the case was reassigned to Justice Ibrahim Buba, who discharged the duo on September 26, 2014.
However, the EFCC appealed, and the Lagos Division of the Appeal Court ordered a fresh trial in November 2016. The Supreme Court later upheld this decision, sending the case back to the Chief Judge of the Federal High Court for reassignment. Justice Mohammed Liman then conducted a fresh trial, acquitting Ikuforiji and Atoyebi on June 24, 2014....Read Full Article [Click Here>]
The EFCC now seeks to overturn the acquittal, citing errors in the trial court’s judgment and non-compliance with appellate court decisions. A date for the appeal hearing has yet to be set.
The commission alleges that Ikuforiji misappropriated funds belonging to the Assembly and accepted cash payments above the threshold set by the Money Laundering Act without going through a financial institution.
