N2.17bn money laundering: EFCC closes case against Obadina

Economic and Financial Crimes Commission, EFCC, on Monday, closed its case against Olugbenga Obadina and his company, Almond Projects Limited before a Federal High Court sitting in Abuja.

Trial judge is Justice Nnamdi Dimgba.

Obadina and Almond Projects Limited are standing trial on an eight-count charge of conspiracy, official corruption and money laundering to the tune of N2.17billion, being payment received from the Office of the National Security Adviser on November 28, 2015, without any contractual agreement or approval.

Prosecution counsel, Ibrahim Buba closed his case, after presenting four witnesses, thus setting the stage for the defendant to enter his defence.

In his statement, Obadina who is the Chairman/CEO of Almond Projects Limited said that he owned Almond Projects Limited, Intraflow Consulting, Terminal Zero Development Limited, Sunphos Africa Limited, Green Cowrie Energy, Giganorth East Limited, Ancient International, TES Power Limited and also a Director in Woks and Koi Oriental Restaurant.

He added that he was invited by the former National Security Adviser, Colonel Sambo Dasuki (retd) sometime in 2013, to discuss developing a Solar Farm Project.

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He confirmed the receipt of NGN 2. 017billion from ONSA between 13/05/2013 and 16/04/2015.

He also further that there was no contract award, agreement or Memorandum of Understanding, MoU, with the Federal Government.

He said that N271.6million, as transferred to his personal account with Zenith Bank, adding that the balance in the N2.17billion, were expended on the purchase of a plot of land in Parkview Ikoyi, purchase of a vehicle, purchase of foreign currencies from bureau de change and transfer of the procured foreign currencies to offshore accounts.

Obadina listed other expenditures made with the fund to include purchase of shares, payment of office rent, office running/payment of salaries, oil and gas investment, payment to travel agents, payments to his wife and to Yobe Solar Project.

Justice Dimgba adjourned the matter to February 29, and March 1, 2024, for continuation of trial.

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