The Economic and Financial Crimes Commission, EFCC, Monday, arraigned the former Commercial Director of Process & Industrial Developments Limited, P&ID, Mr. Mohammad Kuchazi, on eight count money laundering charge.
Kuchazi was docked before the Federal High Court in Abuja alongside his firm, Kore Holdings Limited.
He was among other things, accused to had in 2014, failed to submit to the Federal Ministry of Industry, Trade and Investment, a declaration of activities of the firm which he operated as its director and signatory.
EFCC further alleged that the Defendants failed to develop programmes to combat money laundering and other illegal acts by failing to designate at management level a compliance officer within any strata of the firm.
The Defendants allegedly committed offences contrary to sections 16 (1) (f) read together with section 5(1) (a) (ii) and 9(1) (a) of the Money Laundering (Prohibition) Act, 2011 (as amended), and punishable under section 16 (2) (b) of the same Act.
Meanwhile, the erstwhile P&ID director who also represented the firm (1st Defendant), pleaded not guilty to the charge marked FHC/ABJ/CR/319/2020, which was read to him before trial Justice Folashade Giwa- Ogunbanjo.
The court ordered that he should remain in the custody of the EFCC till Thursday when his bail application will be heard.
The Prosecution counsel, Mr. Bala Sanga had before he applied for trial date, urged the court to remand the 2nd Defendant in the custody of the Nigerian Correctional Service.
However, the defence lawyer, Mr. Aniah Ikwen, pleaded the court to grant his client bail on health ground.
Aniah told the court that his client was “bleeding seriously” and needed urgent medical attention.
He told the court that Kuchazi was arrested from a hospital in Minna, Niger State last Friday and was produced for trial from EFCC’s clinic.
The defence lawyer equally drew the attention of the court to the fact that his client was previously granted administrative bail by the EFCC, saying he never violated any of the conditions handed to him by the anti-graft agency.
Though EFCC’s lawyer, Mr. Sanga admitted that the agency was aware of the 2nd Defendant’s health challenge, he said it was not true that he was arrested in a hospital.
Sanga informed the court that the administrative bail the EFCC granted to the Defendant was in respect of a separate case he was also involved in.
Though Justice Giwa- Ogunbanjo adjourned the hearing of the bail application till Thursday, she slated April 27 and 28 for trial.
It will be recalled that the Federal Government had on September 19, 2019, secured an order that permitted it to seize all assets belonging to P&ID Limited, Virgin Island and its Nigerian affiliate, P&ID Nigeria Limited, after Kuchazi and another director of the company, Adamu Usman, pleaded guilty to 11-count charge that bordered on fraud, tax evasion and money laundering.
The firms were among other things, alleged to have fraudulently claimed that they acquired land from the Cross River State Government in 2010 for a “fraudulent” gas supply project agreement that resulted to $9.6bn judgment liability against Nigeria.
Relying on provisions of section 19(2) of the Money Laundering Prohibition Act, 2011, and section 10(2) of the Advance Fee Fraud and other related offences Act, 2006, the high court in a judgement that was delivered by Justice Inyang Ekwo, ordered FG to wind up the two companies and confiscate all their assets and properties in the country.
Meanwhile, count-1 in the charge the Defendants pleaded innocence to on Monday, read: “That you Kore Holdings Limited, being a Designated Non-Financial Instltution; Muhammed Kuchazi, being a director of and signatory to the bank account of Kore Holdings Limited, sometime in May 2014, in Abuja, within the Abuja Judicial Division of the Federal High Court, failed to comply with the requirements of submitting to the Federal Ministry of Industry, Trade and Investment, a declaration of the activities of Kore Holdings Limited contrary to section 16 (1) (f) read together with section 5(1)(a)(ii) of the Money Laundering (Prohibition) Act, 2011 (as amended) and you thereby committed an offence punishable under section 16 (2)02) of the same Act”.
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