EFCC Adjourns N2bn Money Laundering Case After Defendants Fail to Appear

The arraignment of India-born businessman Sunil Vaswani, Stallion MG Automobiles and its directors Harpreet Singh and Olalere Tajudeen before a Federal High Court in Lagos has been adjourned due to their absence. The Economic and Financial Crimes Commission alleges the group laundered a total of over N3.4bn in two separate sets of charges by failing to report large transactions to the Special Control Unit Against Money Laundering. They face a combined 40 counts under the Money Laundering Prohibition Act 2022. At the resumed hearing, none of the defendants appeared or were represented by counsel. EFCC’s prosecutor asked the court for more time to secure their attendance. Justice Chukwujekwu Aneke adjourned the matter to July 21, 2026 for formal arraignment of the defendants.

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