The Port Harcourt Regional Headquarters of the Economic and Financial Crimes Commission (EFCC), before Justice AT Mohammed of the Federal High Court in Port Harcourt, Rivers State, arrested oil magnate Azubuike Uzoma for the sum of N24,310,000,000 (N24,301,000). He was summoned on suspicion of illegally trading petroleum products.
He was indicted on October 25, 2023 on three counts related to money laundering and illegal trafficking in petroleum products.
One of the charges reads:
“You, Azubuike Uzoma (trading under the name and style of ALVIN D INTERNATIONAL), in June 2022, possessed within the jurisdiction of this Honorable Court the sum of N23,310,000.00 (233.33 billion yen) ” Naira) into your account at Keystone Bank Limited even though you reasonably should have known that the funds were part of the proceeds of illegal activity. In other words, he committed a crime in violation of Article 18 by illegally trading in petroleum products. 2)(d) of the Money Laundering Act.”
He pleaded not guilty when the charges were read to him.
In view of his plea, the Public Prosecution Counsel, Abdulrahman Abubakar, prayed the court to fix the trial date and remand the defendant to a correctional facility. The defendant's lawyer, CJ Nmerem, did not object to the prosecution's prayers but asked the court to grant his client bail so he could prepare for trial.
Justice Mohammed then granted the defendant bail in the sum of N1,000,000.00 (One Million Naira) with two sureties in the same sum. One of the sureties must be a civil servant of the Rivers State Government of grade 14 or above and the other must be a family member of the defendant. The sureties must deposit two recent passport photographs with the court and have a verifiable address.
The judge adjourned the matter until January 22, 2024 for trial to begin.
Mr. Azubuike’s case began when operatives of the commission arrested him in Ndoni community in Oneruga Local Government Area of Rivers State on charges of illegal trafficking in petroleum products and money laundering.
Investigation revealed that the defendant was engaged in a fraudulent oil business by duping customers into paying him several coins as payment for supply of Premium Motor Spirit (PMS) from his Warri warehouse, without ever delivering the product or returning the customers’ money to them.
