By Ihotu Uriel
The Maiduguri Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, has arraigned Ibrahim Lafiya, CEO of I.U. Lafiya Maize Processing Ventures, and I.U. Maize Processing Ventures alongside his companies before Justice Fadimatu Aminu of the Federal High Court sitting in Damaturu, Yobe State.
This was contained in a statement signedof on 1st May 2025 by Dele Oyewale, Head Media and Publicity, EFCC
According to the statement, the defendant was arraigned on a one-count charge bordering on money laundering to the tune of N21, 500,000 (Twenty One Million, Five Hundred Thousand Naira only).
The lone count reads: “That you, Ibrahim Umar Lafiya, being the C.E.O. and Alter Ego of I.U Lafiya Maize Processing Ventures and I.U. Maize Processing Ventures, a company registered in Nigeria between November and December, 2023, at Potiskum, Yobe State, within the jurisdiction of this Honorable Court, directly converted the aggregate sum of N21,500,000.00 (Twenty One Million Five Hundred Thousand Naira), which you ought to have known formed part of the proceeds of an unlawful act, to wit: Money Laundering and thereby committed an offense contrary to Section 18(1)(b) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act 2022.”
The defendant pleaded not guilty when the charge was read to him.
In view of his plea, counsel to the EFCC, Mukhtar Ali Ahmed, prayed the court for a trial date. While defense counsel, M.S Baba, informed the court of an application of the defendant, urging the court to grant him bail on liberal terms.
Justice Aminu, after listening to the arguments of the two counsels on bail application, admitted the defendant to bail in the sum of N6,000,000 (Six Million Naira) with two sureties in like sum. One of the sureties must be a traditional ruler domiciled in Damaturu.
The judge ordered the defendant to be remanded in EFCC custody pending the fulfilment of his bail conditions and adjourned the matter till June 17, 2025 for trial.
