The Enugu Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has arraigned the Group Managing Director of Brass Engineering and Construction Nigeria Limited, Mrs. Egwuche Chinyere Gladys, before the Federal High Court in Enugu over alleged money laundering involving $600,000.
Mrs. Gladys and her company appeared before Justice F. O. Giwa-Ogunbanjo on a twelve-count charge. The prosecution alleges that between March 13 and April 11, 2023, the defendants accepted cash payments totaling $600,000 in twelve tranches of $50,000 each. These transactions were reportedly part payments for a 180220TPH Granite Stone Crushing Line sold to Patan Nigeria Ltd and Reinforce Global Resources Ltd (JV), ValidViewNetwork reports.
The EFCC contends that by accepting these payments in cash rather than through a financial institution, the defendants violated the statutory threshold of N10,000,000 established by the Money Laundering (Prevention and Prohibition) Act, 2022. The charges further specify that this conduct constitutes a criminal breach of the Act, punishable under Section 19 (2) (b).
During the proceedings, the defendants entered a plea of “not guilty” to all counts. While the EFCC’s counsel, Assistant Commander of the EFCC (ACE II) Rotimi Enitan Ajobiewe, requested that the defendant be remanded in the custody of the Nigerian Correctional Service, the defense counsel, Roy O. U. Nwaeze, SAN, moved for bail on behalf of his client.
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ValidViewNetwork reports that Justice Giwa-Ogunbanjo granted the defendant bail in the sum of N200,000,000, with two sureties in like sum. The court mandated that each surety must possess property within the court’s jurisdiction. Additionally, Mrs. Gladys is required to deposit her international passport with the court registrar, and the EFCC has been directed to verify the residential addresses of the sureties within seven days.
The trial is scheduled to commence on November 11, 2026, ValidViewNetwork reports.