Crime
SUNTRUST BANK EXECUTIVES ARRAIGNED OVER $12 MILLION MONEY LAUNDERING CHARGES
The Economic and Financial Crimes Commission (EFCC) has arraigned Halima Buba, Managing Director and Chief Executive Officer of SunTrust Bank Ltd, and Innocent Mbagwu, Executive Director and Chief Compliance Officer, before Justice Emeka Nwite of the Federal High Court in Abuja. The duo faces a six-count charge bordering on money laundering to the tune of $12 million.
According to the charges, Buba and Mbagwu allegedly aided Femi Gbamgboye to make a cash payment of $3 million to Suleiman Muhammed Chiroma and associates without going through a financial institution on March 10, 2025, in Abuja. Another charge accuses them of conspiring to make a similar cash payment of $3 million to Mukhtar Miko, an associate of Chiroma, on March 13, 2025, in Lagos.
When the charges were read, both defendants pleaded not guilty. Lead prosecution counsel Rotimi Oyedepo, SAN, expressed the prosecution’s readiness to proceed with the trial and prayed for an accelerated hearing. Defence counsel J.J. Usman, SAN, urged the court to grant bail, citing existing applications filed on May 27, 2025.
However, Oyedepo opposed the bail application, describing it as “incompetent” since the defendants were neither under arrest nor detention when they filed the application. “The prosecution counsel in his response, described the May 27, 2025 bail application of the defendants as incompetent, given that the defendants were neither under arrest, nor in detention, nor have appeared before the court,” he said.
Justice Nwite admitted the defendants to bail in the sum of N100 million each, with one surety each in like sum. The sureties must own landed properties in Abuja, and their documents and residences must be verified by the court before approval. Until the bail conditions are met, the defendants will be remanded in a correctional facility.
The court adjourned the matter to July 17 and 18 for continuation of trial. The EFCC’s action marks a significant development in its efforts to clamp down on corporate financial misconduct involving top banking executives.
A Nigerian national, James Junior Aliyu, has been sentenced to 90 months (seven and a half years) in prison in the United States for his involvement in a large-scale wire fraud and money laundering scheme.
According to the U.S. Immigration and Customs Enforcement (ICE), Aliyu played a key role in a transnational cybercrime network that targeted business email systems and defrauded individuals and organisations of millions of dollars.
Investigations revealed that the fraud scheme involved hacking into corporate email accounts and using them to divert funds through fraudulent transactions. Authorities said the operation affected multiple victims and formed part of a broader business email compromise (BEC) conspiracy.
Aliyu was arrested in South Africa in 2022 following an international investigation involving Interpol and local law enforcement before being extradited to the United States to face trial.
The 30-year-old later pleaded guilty to charges of conspiracy to commit wire fraud and money laundering. As part of the sentence, the court ordered him to forfeit $1.2 million and pay $2.4 million in restitution to victims.
Authorities also confirmed that Aliyu will be deported after completing his prison term.
Operatives of the Department of State Services (DSS) have arrested a suspected gunrunner, Kelvin Ebikeniye Dugo, in Cross River State, intercepting a cache of 850 rounds of live ammunition.
The arrest, which took place on March 16 at Ivara Esu Estate in Odukpani Local Government Area, followed credible intelligence on the suspect’s alleged plan to acquire the ammunition.
Security sources said Dugo was apprehended shortly after receiving the consignment, which had been concealed inside food items. The ammunition was reportedly supplied by another suspected gunrunner, Azenda Barnabas, also known as Jagaban, based in Aliade, Benue State.
Items recovered during the operation included 850 rounds of live ammunition and two empty AK-47 magazines.
The sources noted that the DSS has stepped up operations nationwide in a bid to dismantle gunrunning networks and curb the proliferation of illegal arms.
They added that the latest arrest underscores the agency’s ongoing commitment to tracking down and prosecuting individuals involved in arms trafficking across the country.
Crime
NDLEA Arrests 74-Year-Old Man with 11kg Cocaine at Abuja Airport, Seizes Large Drug Consignments in Nationwide Raids
The National Drug Law Enforcement Agency (NDLEA) has arrested a 74-year-old man, Ikwuakalom Emeka, at the Nnamdi Azikiwe International Airport in Abuja after officers discovered a large consignment of cocaine concealed in his luggage.
NDLEA operatives intercepted the suspect at the departure hall while he was attempting to board a British Airways flight to London, United Kingdom for what he claimed was a vacation.
According to NDLEA’s Director of Media and Advocacy, Femi Babafemi, a search of the suspect’s luggage uncovered 11 kilograms of cocaine hidden inside food items such as ground dry pepper. The drugs were carefully wrapped in foil papers and balloons to evade detection.
Lagos Island Drug Raids
In a separate operation in Lagos, NDLEA operatives acting on credible intelligence arrested Maryam Olalowo at Ikad Hotel and Suites while she allegedly attempted to sell 89 grams of cocaine and 20 grams of Canadian Loud, a strain of cannabis.
She was reportedly with her three children, including an infant, at the time of the arrest. During interrogation, she said the drugs belonged to her husband, Ibrahim Olalowo Olatunji, who was later arrested the same day.
Investigations revealed that Olatunji had previously been arrested, convicted and sentenced to two and a half years imprisonment in 2015 for a similar offence.
Codeine and Tramadol Interceptions
NDLEA operatives also arrested Kalilou Simpara and Saidu Ibrahim at Ebetu Ero, where 68,000 pills of tramadol were recovered from a truck that was being prepared for transportation to Benin Republic.
A follow-up operation at Idumota Market led to the arrest of the alleged owner of the consignment, Nnamdi Cyprian. NDLEA officers also recovered a parcel containing 1,000 tablets of tramadol (250mg) that had already been prepared for waybill delivery.
In another raid at the same market on March 13, operatives arrested Nwanosike Kelvin and recovered 47,500 ampoules of pentazocine injection from his shop.
Other Arrests Across Nigeria
In Kano, NDLEA officers arrested Magaji Dan Azumi, 42, in the Bebeji area with 386 kilograms of skunk.
Similarly, operatives in Gwagwalada recovered 282.2 kilograms of skunk from a suspect identified as Isah Wako.
In Edo State, NDLEA said its operatives raided the Egwa Forest Reserve in Aduan village, where Chinedo Odalonu was arrested. Officers also destroyed large cannabis farms in the forest and recovered 16.5 kilograms of skunk from the site.
The NDLEA said the operations form part of its ongoing nationwide crackdown on drug trafficking and abuse.