Four Remanded for $5.29M Money Laundering in Lagos

The Economic and Financial Crimes Commission (EFCC) arraigned four individuals—Bamidele Ayodele Emmanuel, Abdullah Oriyomi, Garuba Fathiat Funmilayo, and Gbenro Victor Ademola—before the Federal High Court in Ikoyi, Lagos, on charges of money laundering involving $5.29 million. The defendants were presented before Justice F.

N. Ogazi on two counts related to money laundering, contrary to the Money Laundering (Prevention and Prohibition) Act, 2022.

All four pleaded guilty to the charges. One charge against Emmanuel indicated he retained $826,691 in his Wema Bank account in January 2025, knowing it was from an unlawful source.

EFCC counsel Bilkisu Buhari stated that the defendants provided personal information to Afeez Animashaun, who allegedly helped them incorporate companies that received millions of dollars. The court was informed that these actions obscured the actual operators of the companies and facilitated the movement of suspicious funds.

Justice Ogazi ordered the defendants to be remanded in a correctional facility, with the case adjourned until August 4, 2026, for judgment.