Bright Echefu, the managing director and chief executive officer (MD/CEO) of Telecom Satellites Limited (TStv), and three other individuals were charged with nine counts of money laundering on Thursday by the Economic and Financial Crimes Commission (EFCC).
According to count six of the allegations, Echefu stole N380 million from Mr. Tanimu, the MD of Kalsiyam Global and a former minister of special duties and intergovernmental affairs.
Together with Echefu, other defendants charged before Justice Inyang Ekwo of a Federal High Court, Abua include Felix Igboanuga, Executive Director of TStv, and Briechberg Investment Ltd, which are the second and fourth defendants, respectively. On all the counts, however, they entered a not guilty plea.
Upon their non-guilty plea, EFCC’s counsel, Tahir Sylvanus, SAN, prayed for an order remanding Echefu and Igboanuga in a correctional centre pending the hearing and determination of the case.
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Sylvanus hinged his application on the grounds that it took almost a year after filing the charge before the defendants could be arraigned.
The lawyer, who said Echefu and Igboanuga were a flight risk, alleged that the duo refused to turn up for arraignment after being admitted to administrative bail and the charge filed on June 9, 2023. He, therefore, asked for a speedy trial of the matter.
But Eyitayo Fatogun, SAN, who appeared for the defendants, informed the court that a bail application had been filed on his client’s behalf in October 2023. He urged the court to admit them to bail, pledging that the defendants were ready to stand their trial.
The defendants were alleged to have, on or about May 18, 2020, committed the money laundering offence, including tax evasion, unremitted Value Added Tax (VAT) and Company Income Tax and Pay As You Earn (PAYE) deducted from the salaries of 165 staff.
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The offence is said to be contrary to the Money Laundering (Prohibition) Act, 2011 (as amended in 2012) and punishable under Section 15(3) and (4) of the same Act.
In count five, Echefu, being the MD of Briechberg Investment Ltd on or about May 18, 2020, in Abuja, with intent to defraud, was alleged to have obtained the sum of N150 million from Mr Turaki Kabiru Tanimu, SAN, MD of Kalsiyam Farm.
The monies were said to have been paid into Briechberg Investment Lid account number: 1015561485 domiciled with Zenith Bank Pic under the false pretence of representing loan advance to Telcom Satellite for the purpose of enhancing the acquisition of modern technology.
Echefu was alleged to have misappropriated and converted the said monies to his personal use, among other counts.
