Two remanded for laundering N128m drug proceeds

Two persons, Ikenna Ozoh and Ogbo Obiora were on Thursday remanded in prison custody by a Federal High Court in Lagos for allegedly laundering about N128m, said to be proceeds of illegal drug deals.

Ikenna Ozoh and Ogbo Obiora were arraigned by the National Drug Law Enforcement Agency, NDLEA, on a four count charge bordering on money laundering.

The anti-narcotic agency, accused Obiora of collaborating with one Chinedu, now at large, to conceal N128m in his personal savings bank account with Diamond Bank.

According to NDLEA, the suspect committed the offence between February 2014 and 2015.
It was learnt that the duo, Ikenna and Obiora were arrested on September 9, 2015 at the Murtala Muhammed International Airport, Ikeja, Lagos State, during the outward clearance of passengers onboard an Ethiad Airline flight bound for Brazil.

Testifying before the court, NDLEA prosecutor, Mr. Ibrahim Abu, said the sum of $34,000 was recovered from Ikenna, which he failed to declare to the Nigerian Customs Service, “knowing that the said money directly or indirectly represents proceeds of a criminal conduct, of dealing and trafficking in narcotic drug.”

Abu told the court that the offence contravened Sections 2(5), 15(1)(b) and 18 (a) of the Money Laundering (Prohibition) Act 2011, adding that the accused were liable to being punished under sections 16(a) and 17(a) of the same law.

Both suspects however pleaded not guilty to all charges brought against them.
Justice Saliu Saidu granted the accused bail in the sum of N20m with two sureties each in like sum, adding that one of the sureties must be a civil servant either with the federal or state government and must be at least on Level 17.

Saidu further stated that the second surety, must be a blood relation who must own a landed property in Lagos and must also reside in the state, adding that both suspects must leave their passports in the custody of the NDLEA.
He, however, ordered that Ikenna Ozoh and Ogbo Obiora be remanded in prison  fulfillment of their bail conditions.

Saidu consequently adjourned the case till February 2, 2016.