By Innocent Anaba
Justice Akintayo Aluko of the Federal High Court sitting in Ikoyi, Lagos, has convicted and sentenced Sunmonu Olasunkanmi Thaoban to four years’ imprisonment for money laundering offences.
Sunmonu was prosecuted by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) on a two-count charge bordering on money laundering.
The EFCC alleged that the convict, while acting as a middleman in 2023, disguised the origin of ₦16 million believed to be proceeds of unlawful activities by converting the funds into a black 2018 G-Wagon Jeep.
The prosecution said the offence contravened provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
Sunmonu pleaded guilty to both counts.
Following his plea, EFCC counsel, H.U. Kofarnaisa, reviewed the facts of the case and urged the court to convict and sentence him accordingly.
Justice Aluko found him guilty and sentenced him to four years’ imprisonment, with an option of a ₦1.8 million fine.
The court also ordered the forfeiture of the black G-Wagon Jeep and a mobile device belonging to the convict to the Federal Government.
Meanwhile, the court also convicted and sentenced four Bureau de Change (BDC) operators to 12 months’ imprisonment each for engaging in illegal foreign exchange transactions.
The convicts — Umar Muhammad Lamido, Yusuf Musa Yusuf, Abdulmuhimin Mahmud and Muhammed Musa — were prosecuted by the EFCC on separate one-count charges bordering on illegal foreign exchange operations.
They all pleaded guilty to the charges.
After reviewing the facts of the cases, Kofarnaisa urged the court to convict and sentence the defendants accordingly.
Justice Aluko subsequently convicted the four BDC operators and sentenced each of them to 12 months’ imprisonment, with an option of a ₦100,000 fine.
The EFCC said the convictions reaffirm its commitment to enforcing financial regulations and prosecuting individuals involved in economic crimes.
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