Four Plead Guilty as EFCC Arraigns Them Over Alleged $5.29m Money Laundering

The EFCC has arraigned four people before the Federal High Court in Ikoyi, Lagos, over the alleged laundering of $5.29 million through company accounts. The defendants each pleaded guilty to two counts of money laundering. Prosecutors said they gave their personal details to another person, who allegedly used their identities to register companies and open corporate accounts. Investigators said the accounts received millions of dollars in January 2025, allegedly concealing the identities of the real operators and enabling suspicious funds to move through Nigeria’s financial system. Justice F. N. Ogazi remanded the defendants in custody and fixed August 4, 2026, for judgment.

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