The Lagos Zonal Directorate of the Economic and Financial Crimes Commission has arraigned a man, Fidelix Samuel Ebuka, before the Federal High Court in Lagos over an alleged N90.9 million money laundering offence.
Ebuka was brought before Justice Yellim Bogoro on Wednesday on a one-count charge bordering on the retention of proceeds of unlawful activities amounting to N90,989,517.
According to the charge, the defendant allegedly retained the sum in his Union Bank account on or about April 15, 2026, despite allegedly having reason to know that the funds were proceeds of unlawful activities.
The charge stated that the offence contravenes Section 18(2)(d) and is punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.
When the charge was read in court, Ebuka pleaded not guilty.
Following his plea, the prosecution counsel, H.U. Kofarnaisa, requested a trial date and urged the court to remand the defendant in a correctional facility pending the commencement of trial.
Counsel to the defendant, Bimbo Ogunlaja, sought an adjournment to enable the defence file and argue a bail application.
After listening to both parties, Justice Bogoro adjourned the matter until June 29, 2026, for the hearing of the bail application and commencement of trial.
The court also ordered that the defendant be remanded in a correctional facility pending the determination of his bail application.
The EFCC alleged that the N90.9 million found in the defendant’s account constituted proceeds of unlawful activities, an allegation the defendant has denied and will contest during the trial.
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