The Economic and Financial Crimes Commission (EFCC) on Wednesday charged a businessman, Malik Kayode, and his company MIKA Resources Nig. Ltd. before a Federal High Court Lagos, over alleged N160 million fraud.
The accused is being prosecuted by the EFCC on a four-count charge bordering on obtaining money by false pretence, retention of proceeds of crime and impersonation.
He pleaded not guilty to the charges before Justice Chuka Obiozor.
After his plea, the prosecutor, Mrs Zainab Ettu, urged the court to remand the accused in prison custody, and issue a trial date.
However, the defense counsel, Mr Chris Ibe, informed the court of a pending application for bail of the accused, but the prosecutor told the court that the commission was yet to file a counter affidavit to the bail application.
She urged the court to adjourn the matter for the prosecution to respond appropriately.
After listening to both parties, Justice Obiozor adjourned the case until Oct. 22, for hearing of the bail application.
Meanwhile, the judge ordered that the accused be remanded in prison pending bail.
In the charge No. FHC/L/240c/18, the commission alleged that the accused on April 9, in Lagos retained the sum of N17.1 million in his Zenith bank account, which he reasonably ought to have known was part of the proceeds of on unlawful act.
The accused was also said to have between Dec. 18, 2014 and April 4, taken possession of the sum of about N143 million in his Zenith band account, which was obtained by false pretences and which also formed part of the proceeds of the crime.
He was also said to have acquired a Mercedes Benz C300 2015 Model valued at N14 million, which property was also part of the proceeds of an unlawful act of obtaining money by false pretences.
The offences contravenes the provisions of sections 15(1), 15 (2), and 15 (3) of the Money Laundering (Prohibition) Act, 2011 (as amended).
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