UPDATED: Court acquits former Lagos speaker, aide of money laundering charges

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The prosecution alleged that the defendants accepted cash payments above the threshold the Money Laundering Act set without going through a financial institution. He noted that the pertinent question was which substantive law was in place when the defendants were charged. “The Money Laundering Prohibition Act of 2004/2011 requires clear evidence of intent and the actual act of laundering money.

The EFCC said the alleged offence contravened Section 18 of the Money Laundering Act 2011.The defendants were later re-arraigned before Ibrahim Buba, now retired, following the re-assignment of the case..On 26 September 2014, Mr Buba discharged Ikuforiji and his aide after upholding their no-case submissions.Dissatisfied with the judgement, EFCC, through its counsel, Godwin Obla, a Senior Advocate of Nigeria , filed an appeal dated 30 September 2014 against the judgement.

In its judgement, the Lagos Division of the Court of Appeal, in November 2016, upheld EFCC’s submissions and ordered a fresh trial of the defendants before another judge.

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