The Federal High Court in Ikoyi, Lagos, on Thursday, convicted Olufemi Martins Thomas, a former Executive Secretary of the National Health Insurance Scheme (NHIS), and Kabiru Sidi, a Bureau De Change operator, of their involvement in fraud case involving more than $2 million.
The judge, Ayokunle Faji, found Mr Thomas guilty of transacting beyond the legal threshold without utilising a financial institution, an offence contrary to money laundering regulations. He was subsequently sentenced to a fine of N10 million.
His co-defendant, Mr Sidi, was found guilty of making a false statement to an investigating officer of the Economic and Financial Crimes Commission (EFCC) and was fined N100,000.
EFCC brought amended seven charges of money laundering, among others, against the duo. Six of the counts against Mr Thomas related to money laundering and transferring proceeds of unlawful activities in cash, in contravention of the Money Laundering (Prohibition) Act, 2011 as amended. Mr Sidi faced a single count of making false statements to an EFCC official.
According to the charges, Mr Thomas procured his wife, Mrs Femi Thomas, to disguise the unlawful origin of about $2 million ($2,198,900) on or about 3 July 2015. This was deemed an offence contrary to Section 18 and punishable under Section 15(2)(a) and (3) of the Money Laundering (Prohibition) Act, 2011 (as amended).
Mr Sidi’s charge stated that on or about 15 July 2015, at the EFCC office in Ikoyi, Lagos, he made a false statement to Afeez Mustapha, an investigating officer, claiming he gave over two million United States dollars to Bamidele Ibiteye. This was found to be an offence contrary to Section 39(2)(b) and punishable under Section 39(2)(c) of the Economic and Financial Crimes Commission (Establishment) Act, 2004.
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Both defendants had pleaded “not guilty” to the charges, leading to a full trial.
In his oral submissions during the final hearing on 29 May, the prosecution counsel, Ekele Iheanacho, a Senior Advocate of Nigeria (SAN), argued that the prosecution had established a prima facie case against the defendants, which had been upheld by the Court of Appeal after an initial no-case submission by the defence was overruled.
“This is a case of money laundering, where the issue of concealment of transaction is paramount and that is why the law requires such transactions to go through financial institutions so that there will be a trial,” Mr Iheanacho said.
Despite the convictions on specific counts, Justice Faji discharged Dr. Thomas on counts one, two, three, four, and seven of the charge.
