The Port Harcourt’s Zonal Command of the Economic and Financial Crimes Commission (EFCC) brought Azubuike Uzoma, an oil magnate, before Justice A.T. Mohammed of the Federal High Court in Port Harcourt, Rivers State, on charges related to alleged illegal dealings in petroleum products, amounting to N24,310,000 (Twenty Four Million, Three Hundred and Ten Thousand Naira).
These charges, which include money laundering and illicit trading in petroleum products, were formally lodged on October 25, 2023.
One of the charges states that Azubuike Uzoma, conducting business under the name and style of ALVIN D INTERNATIONAL, received a total of N23,310,000.00 (Twenty Three Million, Three Hundred and Ten Thousand Naira) in his Keystone Bank Limited account in June 2022.
It is alleged that he should have been aware that these funds were derived from unlawful activities, specifically illegal dealings in petroleum products. This charge contravenes Section 18(2)(d) of the Money Laundering Act.
Upon hearing the charges, Azubuike Uzoma pleaded not guilty. Subsequently, the prosecution counsel, Abdulrahman Abubakar, requested the court to set a trial date and to detain the defendant in a Correctional Service facility pending the trial.
The defendant’s legal counsel, C J Nmerem, did not oppose the prosecution’s requests but urged the court to grant bail to his client to enable him to prepare for the upcoming trial.
Justice Mohammed, in response, granted bail to the defendant in the sum of N1,000,000.00 (One Million Naira), with two sureties providing the same amount. One of the sureties must be a civil servant within the Rivers State government, holding a position not lower than grade level 14.
The other surety is required to be a family member of the defendant. Both sureties must provide two recent passport photographs to the court and have verifiable addresses.
The case has been adjourned until January 22, 2024, when the trial proceedings are scheduled to commence.
The legal situation of Azubuike Uzoma originated from his arrest by EFCC operatives in Ndoni Community of Onelga Local Government Area in Rivers State, where he faced allegations of illegal dealings in petroleum products and money laundering.
