‘N110m Fraud’: Absence Of Judge Stalls Businessman Babatunde Morakinyo’s Trial
The absence of Justice Peter Lifu stalled the trial of a businessman, Babatunde Morakinyo, for an alleged money laundering scam to the tune of N110m.
Thursday was fixed for the commencement of trial at the Federal High Court, Abuja, but the trial could not proceed due to Justice Lifu’s absence.
Morakinyo was arraigned before Justice A. R. Mohammed on March 19, 2020, alongside two companies, Iretidu LTD and Tree Four Universal Concept Limited, on a 23-count charge of money laundering brought against them by the Economic and Financial Crimes Commission (EFCC)
The EFCC in the suit marked FHC/ABJ/CR/75/2020 alleged that the defendants carried out suspected criminal activities, including failure to explain a transaction of N110m paid into an account managed by Iretidu limited, contrary to Section 5 (1) (a) of the Money Laundering (Prohibition) Act.
One of the charges reads: “That you, Iretidu (a Designated Non-Financial Institution(“DNFI”) and BABATUNDE Morakinyo, being Director of the said company sometime in March 2019 in Abuja within the jurisdiction of this Honourable Court, failed to report in writing to the Economic and Financial Crimes Commission, a single transaction of the sum of N110,000,000 (One Hundred and Ten Million Naira) carried out in the GTBank PLc account No.0025311546 operated by Iretidu Ltd as specified under Section 10(1)(b) of the Money Laundering (Prohibition) Act 2011(As Amended) and you thereby committed and offence contrary to and punishable under Sections 10(3), 16(2) (b), and 19 of the Money Laundering (prohibition) Act, 2011(AS Amended).”
The defendant pleaded not guilty when all the charges were read to him and was subsequently granted bail to the tune of N200m by Justice Mohammed, with two sureties in like sum.
However, the case was transferred to Justice Peter Lifu, after Justice Mohammed’s elevation to the Court of Appeal.
Our correspondent gathered that the EFCC was supposed to continue with the presentation of witnesses on Thursday.
The court, however, adjourned till March 5 for continuation of trial.
‘N110m Fraud’: Absence Of Judge Stalls Businessman Babatunde Morakinyo’s Trial is first published on The Whistler Newspaper
