A businessman, Olayinka Oladimeji and his company, Aquila Asset Management Limited have been arraigned before a Federal High Court, Lagos, on alleged seven count-charge bordering on illegal financial transactions and money laundering total sum of N1, 354,500, 000 billion.
Olayinka Oladimeji and his company were arraigned by the Economic and Financial Crimes Commission (EFCC) before the court presided over by Justice Chukwujekwu Aneke, in a charge marked FHC/L/381C/2025.
They were accused of failure to disclose multiple high-value transactions to the Nigerian Financial Intelligence Unit (NFIU), as required by law.
The infractions were said to have occurred between March 16 to 23, 2023.
Specifically, the defendants were alleged to have made the payments in seven tranches of N500 million, N512 million, N91 million, N100 million, N19.5 million, N20 million and N112 million, into their account number 0006080588 domiciled in Access Bank Plc.
The prosecutor, Barrister Abdulhamid Lamido Tukur, claimed that the defendants acts contravened section Section 11(1)(b) and punishable under sections 11(3) of the Money Laundering Prohibition Act 2022.
However, the defendants have pleaded not guilty to the offences, but on the submission of his lawyer, the judge released him to the lawyer, while adjourned to April 28, for ruling on his bail application.
Charges Against the defendants read: “That you Olayinka Oladimeji and Aquila Asset Management Limited about the 16th day of March, 2023, in Nigeria, within the Judicial Division of this Honourable court, being a financial institution failed to report to the Nigerian Financial Intelligence Unit in writing within seven days of a single lodgment of the sum of N500,000,000.00 (Five Hundred Million Naira) into your account number OOO6080588, domiciled with Access Bank Plc and you thereby committed an offence contrary to Section 11(1)(b) and punishable under sections 11(3) of the Money Laundering Prohibition Act 2022.
“That you Olayinka Oladimeji and Aquila Asset Management Limited about the 16th day of March, 2023, in Nigeria, within the Judicial Division of this Honourable court, being a financial institution failed to report to the Nigerian Financial Intelligence Unit in writing within seven days of a single lodgment of the sum of N20,000,000.00 (Twenty Million Naira) into your account number 0006080588, domiciled with Access Bank Plc and you thereby committed an offence contrary to Section 11(1)(b) and punishable under sections 11(3) of the Money Laundering Prohibition Act 2022.
“That you Olayinka Oladimeji and Aquila Asset Management Limited about the 17th day of March, 2023, in Nigeria, within the Judicial Division of this Honourable court, being a financial institution failed to report to the Nigerian Financial Intelligence Unit in writing within seven days of a single lodgment of the sum of N19,500,000.00 (Nineteen Million Five Hundred Thousand Naira) into your account number 0006080588, domiciled with Access Bank Plc and you thereby committed an offence contrary to Section 11(1)(b) and punishable under sections 11(3) of the Money Laundering Prohibition Act 2022.
“That you Olayinka Oladimeji and Aquila Asset Management Limited about the 23rd day of March, 2023, in Nigeria, within the Judicial Division of this Honourable court, being a financial institution failed to report to the Nigerian Financial Intelligence Unit in writing within seven days of a single lodgment of the sum of N512,000,000.00 (Five Hundred and Twelve Million Naira) into your account number 0006080588, domiciled with Access Bank Plc and you thereby committed an offence contrary to Section 11(1)(b) and punishable under sections 11(3) of the Money Laundering Prohibition Act 2022.
“That you Olayinka Oladimeji and Aquila Asset Management Limited about the 23rd day of March, 2023, in Nigeria, within the Judicial Division of this Honourable court, being a financial institution failed to report to the Nigerian Financial Intelligence Unit in writing within seven days of a single transaction of the sum of N91,000,000.00 (Ninety One Million Naira) into your account number 0006080588, domiciled with Access Bank Plc and you thereby committed an offence contrary to Section 11(1)(b) and punishable under sections 11(3) of the Money Laundering Prohibition Act 2022.
“That you Olayinka Oladimeji and Aquila Asset Management Limited about the 23rd day of March, 2023, in Nigeria, within the Judicial Division of this Honourable court, being a financial institution failed to report to the Nigerian Financial Intelligence Unit in writing within seven days of a single transaction of the sum of N100,000,000.00 (One Hundred Million Naira) into your account number 0006080588, domiciled with Access Bank Plc and you thereby committed an offence contrary to Section 11(1)(b) and punishable under sections 11(3) of the Money Laundering Prohibition Act 2022.
“That you Olayinka Oladimeji and Aquila Asset Management Limited about the 24th day of March, 2023, in Nigeria, within the Judicial Division of this Honourable court, being a financial institution failed to report to the Nigerian Financial Intelligence Unit in writing within seven days of a single transaction of the sum of N112,000,000.00 (One Hundred and Twelve Million Naira) into your account number 0006080588, domiciled with Access Bank Plc and you thereby committed an offence contrary to Section 11(1)(b) and punishable under sections 11(3) of the Money Laundering Prohibition Act 2022.”
