ICPC arrests primary school teacher, bank officials, lawyer for laundering N550m
A primary school teacher in Anambra State is in the custody of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) for allegedly laundering N550 million.
Also being interrogated with Mrs. Roseline Uche Egbuha of Ozala Primary School, Abagana, Anambra State for the offence are three employees of a bank and a lawyer.
The cash is alleged to have been laundered from Malaysia by the teacher’s son whose whereabouts are currently unknown.
Spokesperson of the commission, Mrs. Rasheedat A. Okoduwa, said Mrs. Egbuha was first arrested in October 2019 following a petition.
The account holding the funds was subsequently tagged with a ‘Post No Debit’ directive while the woman was granted an administrative bail.
The three bankers are alleged to have connived with the suspects to lift the restriction on the account.
The statement said: “Following a petition, Mrs. Egbuha, a teacher with Ozala Primary School, Abagana, Anambra State, was earlier arrested in October, 2019 by ICPC and granted an administrative bail.
“An investigation into her financial transactions had shown her alleged involvement in money laundering.
“ICPC, in a series of investigation, found that the school teacher had N539.5 million in her bank account alleged to have been proceeds of money laundering from Malaysia.
“She had told investigators during interrogation that the money found in her account belonged to her 24-year-old son, Chidozie Fabian Ejeaka, whose whereabouts could not be established.
“A Post No Debit (PND) was placed on the account to allow the Commission to carry out further investigation while a case of forfeiture of the suspected proceeds of crime was instituted against her in a court of law.”
The commission gave the details of how the suspect connived with the bank officials to transfer the cash from the restricted account.
The statement added: “However, Mrs. Egbuha approached another court to challenge the restriction placed on her account by ICPC.
“She also asked for the enforcement of her fundamental human rights.
“Her fresh arrest with the staff of the bank and the lawyer was due to their alleged connivance in lifting the restriction placed on her account and the subsequent transfer of N550 million (principal sum and interest) into the account of FBI Legal, a company owned by Mrs. Egbuha’s lawyer, Ferdinand Isa.
“The Commission found that the money was transferred on 4th June, 2020, the same day a court order was said to have been obtained.
“The lawyer claimed that the order vacating the restriction on the account was based on an out-of-court settlement with the bank which empowered his client to access her money.
“The Commission also found out that the N550 million was promptly split and moved into multiple bank accounts owned by Bureau de Change operators and private individuals.
N340 million in two installments of N200 million and N140 million respectively was allegedly moved into the bank account of a Bureau de Change operator.
“Another N100 million was transferred into the account of Edokaf Multi-global while N18 million was transferred to the private account of the lawyer, Isa.
“The balance of the money was moved into some other accounts.
Investigation is still ongoing and appropriate actions will be taken upon conclusion.”