04 Dec 2022, 7:41 AM (GMT)

COVID-19 Global Stats

649,792,493 Total Cases
6,645,983 Death Cases
626,988,955 Recovered Cases
HeadlinesNews

EFCC Arraigns Ex-Lagos Attorney-General, Shasore For N159million, $60,000   

The Economic and Financial Crimes Commission, EFCC, on Friday, November 4,  2022, arraigned Olasupo Shasore, Senior Advocate of Nigeria, SAN,  and former Attorney-General and Commissioner for Justice, Lagos State,  on  fourteen -count charges  bordering on money laundering to the tune of N159,700,000.00( One Hundred and Fifty Nine Million, Seven Hundred Thousand Naira) and $60,000 (Sixty Thousand United States Dollars).

Shasore was arraigned alongside his company,  Middlesex Investment Ltd,  before Justice I.E. Ekwo of the Federal High Court Abuja,  for failing to develop a  programme to combat money laundering and other illegal acts, including failing  to designate a compliance officer as specified under Section 9(a) of the Money Laundering Prohibition Act, 2011 (as amended).

He was also accused of failing to comply with the money laundering act by submitting to the Federal Ministry of Industry, Trade and Investment a declaration of activities of his company.

One of the count reads: “That you Olasupo Shasore, SAN,  director of MIDDLESEX INVESTMENT LIMITED and signatory    to the company’s bank account at all material times, between the 3rd and 11th day of September 2014, within the Judicial division of the Federal High Court, aided the said MIDDLESEX INVESTMENT LIMITED in failing to report in writing, to the Economic and Financial Crimes Commission, a single lodgement transaction of the sum of N60, 000,000.00(Sixty Million Naira), from Mandivera Global Resources Limited, into the Guaranty Trust Bank Plc Account Number 0005659394 of  MIDDLESEX INVESTMENT LIMITED, as required under Section 10(1)b of the Money Laundering Prohibition Act 2011(as amended), and you thereby committed an offence under Section 18(a) of the said Money Laundering (Prohibition) Act, 2011(as amended) and punishable under Section 16 (2)(b) of the same Act.”

 Another count reads: “That you Olasupo Shasore, SAN, director of MIDDLESEX INVESTMENT LIMITED and signatory to the company’s bank account at all material times, between the 26th August 2019 and 3rd September 2019, within the Judicial Division of the Federal High Court, aided the said MIDDLESEX INVESTMENT LIMITED, in failing to report in writing to the Economic and Financial Crimes Commission a single transfer transaction of the sum of $30,000(Thirty Thousand United States Dollars), from the Guaranty Trust Bank Plc account number 0005659435 of MIDDLESEX INVESTMENT LIMITED, to the account of Olasupo Shasore, as required under Section 10 (b) of the Money Laundering Prohibition Act 2011(as amended), and you thereby committed an offence under Section 18(a) of the said Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 16(2)(b) of the Same Act.”

He pleaded “not guilty” when the charges were read to him, prompting prosecution counsel, Bala Sangha to pray the court for a trial date and  remand of  the defendant in a correctional facility.

Defense counsel, Wole Akoni, SAN, however, urged  the court to admit the defendant to bail.

Justice Ekwo adjourned the matter to March 13, 14, 15, 16, and 17, 2023 for commencement of trial. The judge further adopted the bail conditions granted the defendant by the Federal High Court, Lagos Judicial Division.

The court had earlier granted the  defendant  bail in the sum of N50, 000,000.00( Fifty Million Naira only) with one surety in like sum. The surety must be a serving Director or Permanent Secretary in the service of the Federation or Lagos State Government. The surety is required to produce two copies of a  recent passport photograph and evidence of payment of tax clearance, while the defendant is ordered  to deposit his  international passport  with the registrar of the court.

Nadula Tax Return Season Sale under $200 wigs, beginner friendly & quick install

Advertisements

Lagos Post Online

Publisher, Lagos Post Online, Lagos Post is an online publication that seeks to provide fair, unbiased, credible, balanced and useful information about Corporate Organisations, Governments and the General Public by breaking news in Business, Politics, Arts, Entertainment, Culture, and Sports in Nigeria, Africa and the World. As a global news portal, we continually stand for responsible journalism and sound media practice. Mobile: +238025837037 Email: lagospostng@gmail.com

Related Articles

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker