EFCC Arraigns Businessman in Lagos over Alleged Fifty Five Million Naira Fraud

The Economic and Financial Crimes Commission in Lagos moved a fresh case into the public eye on Wednesday, where a businessman, Gabriel Celestine Nwawuzor, was brought before the Federal High Court in Ikoyi on allegations linked to a fifty five million naira fraud. Inside the quiet courtroom of Justice Daniel Osiagor, Nwawuzor took his place beside Moonlink Pharmaceuticals Limited, the firm listed as second defendant. The charge sheet, carrying three counts, painted a trail of money movements said to have taken place in April 2021. Prosecutors told the court that the funds were passed through a Zenith Bank account and were allegedly tied to unlawful activities. A particular count accused Nwawuzor and the company of retaining the funds while aware of their questionable origin, a detail that the prosecution said fell under money laundering offences provided for in the Money Laundering Prevention and Prohibition Act of 2022. Another count traced the same funds to the purchase of a property at Okenwa Okolo Street in the Opana area of Asaba, suggesting that the money was disguised in the process. The defendant entered a firm not guilty plea as the charges were read out. With the plea recorded, prosecution counsel S I Suleiman requested an immediate trial date and also asked that the defendant be kept in custody pending the beginning of proceedings. Defence counsel countered with a plea for bail, urging the court to offer terms described as liberal. Justice Osiagor granted bail in the sum of one hundred million naira, supported by two sureties who must match the same amount. Until the conditions are met, Nwawuzor will remain in the custody of the Nigerian Correctional Service. The matter has been scheduled for full trial on the eleventh and twelfth of March, next year.

| 2025-12-05 18:26:01