EFCC docks P&ID director for flouting SCUML regulations

The Economic and Financial Crimes Commission (EFCC) on Monday arraigned a Commercial Director of the Process and Industrial Development (P&ID) Limited, Mohammed Kuchazi before a Federal High Court in Abuja for allegedly flouting regulations of the Special Control Unit against Money Laundering (SCUML).

Kuchazi and his company, Kore Holdings Limited are were arraigned on an eight-count charge bothering on failure to comply with SCUML regulations as stipulated by the Money Laundering Prohibition Act.

Count one of the charges reads: “That you Kore Holdings Limited, being a Designated Non-Financial Institution; Muhammed Kuchazi, being a director of and signatory to the bank account of Kore Holdings Limited, sometimes in May 2014, in Abuja, within the Abuja Judicial Division of the Federal High Court, failed to comply with the requirements of submitting, to the Federal Ministry of Industry, Trade and Investment, a declaration of the activities of Kore Holdings Limited contrary to Section 16(1) (f) read together with section 5(1) (a) (ii) of the Money Laundering (Prohibition) Act, 2011 (as amended) and you thereby committed an offence punishable under section 16 (2)(b) of the same Act.”

Kuchazi pleaded not guilty when the charge was read to him.

Prosecution counsel, Bala Sanga, prayed the court for a trial date and remand of the defendant in the custody of the Nigerian Correctional Centre.

The defence counsel, Aniah Ikwen, however, pleaded with the court to grant his client bail on health grounds.

The trial judge, Justice Folashade Giwa, in her ruling declined the defence counsel’s request, stating that the prayer cannot be granted where the defendant’s bail application has not been served to EFCC.

After listening to the submissions of both counsel, the judge remanded the defendant in EFCC’s custody and adjourned the matter till February 4, 2021, for hearing of the bail application, and fixed April 27 and 28, 2021 for the commencement of trial.

YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE

We Have Not Had Water Supply In Months ― Abeokuta Residents

In spite of the huge investment in the water sector by the government and international organisations, water scarcity has grown to become a perennial nightmare for residents of Abeokuta, the Ogun State capital. This report x-rays the lives and experiences of residents in getting clean, potable and affordable water amidst the surge of COVID-19 cases in the state.

Selfies, video calls and Chinese documentaries: The things you’ll meet onboard Lagos-Ibadan train

The Lagos-Ibadan railway was inaugurated recently for a full paid operation by the Nigerian Railway Corporation after about a year of free test-run. Our reporter joined the train to and fro Lagos from Ibadan and tells his experience in this report…

ICYMI: Nigeria Back Into Recession, Worst Since 1987

Nigeria is back into a recession. This time, it is the worst the country has experienced since 1987…

ICYMI: Salami Panel Wants Magu, Other Policemen In EFCC Removed

President Muhammadu Buhari has received the report of the judicial commission of inquiry on the investigation of Ibrahim Magu, the suspended acting chairman of the Economic and Financial Crimes Commission (EFCC), headed by Justice Ayo Salami (retd)…