The Economic and Financial Crimes Commission (EFCC), has attained Two Bureau De Change (BDC) operators for laundering $1.6 million said to be proceeds from smuggling activities.
According to the EFCC, the defendants should have known that the money which was moved in 2017 formed parts of proceeds from smuggling.
The defendants identified as Chris Ogbonna and Sulaiman Jibbo were attained alongside two firms, Kur and Sule Nigeria Enterprises, and Sunchrist Trans Nigeria Limited on five counts of money laundering before Justice Ayokunle Faji.
Chris Ogbonna and Sunchrist Trans Limited were accused of transfering an additional N602.7m to Kur and Sule Enterprises .
The second defendant, Jibbo was also accused of making a cash payment of $52,287 to an individual named Fredrik which exceeds the amount of cash allowed by law to be released to an individual.
Both defendants were granted bail in the sum of N10m and two sureties in like sum after they entered a ‘not guilty’ plea.
The Judge gave them ten days to fulfill the bail conditions after which they will be remanded in the custody of the Nigerian Correctional Service if they fail to meet the bail conditions.