We respect copyright complaints.

Kindly email contact@rokiitv.com with links to a collection of your content, and it shall be honored within 72 hours.

Businesswoman Arraigned for Money Laundering of Over N140 Billion in Nigeria By EFCC

On Monday, Saadatu Ramalan-Yaro, a businesswoman, was arraigned by the Economic and Financial Crimes Commission (EFCC) for the second time in Lagos State, Nigeria, after her initial arraignment two weeks prior. She appeared before Justice Obiora Egwuatu of the Federal High Court in Abuja, facing charges of money laundering totaling over N140 billion.

Ramalan-Yaro is accused of failing to fulfill her responsibilities as the director of Tsami Babi Resources Limited, a designated non-financial business, by not submitting the company’s activities as required. The EFCC alleges that she deposited N100 billion into the company’s Zenith Bank account without notifying the Ministry of Commerce, violating Sections 5(1) (a) and 16(1) of the Money Laundering Prohibition Act of 2011 (as amended). This act is punishable under Section 16(2)(b) of the same Act.

In addition to the first charge, Ramalan-Yaro and M.A.Y. Fine Fragrance Limited, another designated non-financial institution, were accused of money laundering amounting to N40 billion. During the court proceedings, the accused pleaded not guilty. The prosecution counsel requested a date for the commencement of the case.

The defense counsel, a Senior Advocate of Nigeria (SAN), requested bail for Ramalan-Yaro, which was granted by Justice Egwuatu. The trial was adjourned until July 12 and 13, 2023. As part of the bail conditions, the defendant must surrender her international passport to the court and provide two sureties, one of whom must be a public servant and the other a relative. The total bail amount was set at N100 million.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Read

Popular Movies

Fast X

Fast X (2023) | Trailer

By Rokiitv / March 16, 2023 / 0 Comments
Dom Toretto and his family are targeted by the vengeful son of drug kingpin Hernan Reyes.
Barry Season 4

Barry Season 4 | Trailer

By Rokiitv / March 2, 2023 / 0 Comments
A hit man from the Midwest moves to Los Angeles and gets caught up in the city’s theatre arts scene. https://www.youtube.com/watch?v=_4lf2LKZwoY
Sweet Tooth Season 2

Sweet Tooth Season 2

By Rokiitv / March 2, 2023 / 0 Comments
A boy who is half human and half deer survives in a post-apocalyptic world with other hybrids. https://www.youtube.com/watch?v=GUjkEhQbJjk
Download All American Series

Download All American Season 3 Episode 6

By Grams / February 21, 2023 / 0 Comments
When a star high school football player from South Central is recruited to play for Beverly Hills High School, two separate worlds collide.
Attack on Titan

Download Attack on Titan Season 4 Part 3 (Episode 29) | TV Series

By Rokiitv / March 4, 2023 / 0 Comments
After his hometown is destroyed and his mother is killed, young Eren Jaeger vows to cleanse the earth of the giant humanoid Titans that have brought humanity to the brink of extinction.
Download The Flash

Download The Flash Season 9 Episode 4 | Download TV Series

By Rokiitv / March 2, 2023 / 0 Comments
After being struck by lightning, Barry Allen wakes up from his coma to discover he’s been given the power of super speed, becoming the Flash, and fighting crime in Central City.
Download The Flash

Download The Flash Season 9 Episode 5 | Download TV Series

By Rokiitv / March 9, 2023 / 0 Comments
After being struck by lightning, Barry Allen wakes up from his coma to discover he’s been given the power of super speed, becoming the Flash, and fighting crime in Central City.
Download The Flash

Download The Flash Season 9 Episode 1 | Download TV Series

By Rokiitv / February 23, 2023 / 0 Comments
After being struck by lightning, Barry Allen wakes up from his coma to discover he’s been given the power of super speed, becoming the Flash, and fighting crime in Central City.
Download The Flash

Download The Flash Season 9 Episode 6 | TV Series

By Rokiitv / March 16, 2023 / 0 Comments
After being struck by lightning, Barry Allen wakes up from his coma to discover he’s been given the power of super speed, becoming the Flash, and fighting crime in Central City.
Orisa (diety) odunade adekola

Download ORISA (Diety) | Yoruba Movie

By Rokiitv / February 4, 2024 / 0 Comments
Orisa (diety) is all about a rogue king. Mp4 Download ORISA (Diety) 720p 480p , Cinema , x265 x264 , torrent , HD Blu-ray popcorn, magnet, Moving Pictures mkv Download

Contact Us

For any enquiry use the info below to get in touch with us.