Three Inec officials remanded in Ikoyi Prison for accepting $500,000 cash during elections

THREE Independent National Electoral Commission (Inec) officials have been remanded in Ikoyi prison by a Lagos federal high court after they were charged with money laundering by the Economic and Financial Crimes Commission (EFCC).

Following the hearing of the charge this morning, Justice Muslim Hassan ruled that the three officials attached to the commission in Ogun State for allegedly laundering N179.8m, should be remanded in custody while the case is being heard. According to the EFCC, Yemi Akinwonmi, Dickson Atiba and Ogunmodede Oladayo conspired among themselves and took possession of the N179.8m ($500,00) in March 2015, days before the general elections.

In the charge, the anti-graft agency said they received the money from one Adeyinka Ayo-Aina when they reasonably ought to have known that the money formed part of the proceeds of fraud. It added that they handled the cash without going through any financial institution, contrary to the provisions of the Money Laundering (Prohibition) Act, 2011.

Furthermore, the EFCC alleged that the first and second defendants, on or about April 7, 2015, made and accepted a cash payment of N69m, which exceeded the amount authorised by law without going through a financial institution. It added that they thereby committed an offence contrary to Section 18(a) of the Money Laundering (Prohibition) Act, 2011, as amended, and punishable under Section 16(2) of the same Act.

After the case was read, the three defendants pleaded not guilty to the eight charges presented against them. While adjourning the case until August 6 to enable the defendants make their bail applications, Justice Hassan ordered that they should be remanded in Ikoyi Prison fore now.