The Economic and Financial Crimes Commission (EFCC) has arraigned the Group Managing Director of Brass Engineering and Construction Nigeria Limited, Mrs. Egwuche Chinyere Gladys, alongside the company, over an alleged $600,000 money laundering offence.
Gladys and the company were arraigned before Justice F. O. Giwa-Ogunbanjo of the Federal High Court sitting in Independence Layout, Enugu, on a 12-count charge bordering on money laundering and alleged violations of the Money Laundering (Prevention and Prohibition) Act, 2022.
According to the EFCC, the defendants allegedly received a total of $600,000 in cash in 12 separate tranches between March 13 and April 11, 2023, as part payment for a 180220TPH Granite Stone Crushing Line sold to Patan Nigeria Limited and Reinforce Global Resources Limited (JV).
The anti-graft agency alleged that the cash payments, each valued at $50,000, exceeded the statutory threshold of N10 million permitted for cash transactions and were not routed through a financial institution as required by law.
One of the charges alleged that on March 13, 2023, at Abakaliki, Ebonyi State, Brass Engineering and Construction Nigeria Limited and its Group Managing Director accepted a cash payment of $50,000, being part payment for the granite stone crushing line, in contravention of Section 2(1) of the Money Laundering (Prevention and Prohibition) Act, 2022.
Another count accused the defendants of receiving an additional $50,000 in cash on March 15, 2023, under similar circumstances, contrary to the provisions of the Act.
The defendant pleaded not guilty to all the charges when they were read before the court.
Following the plea, counsel to the EFCC, Assistant Commander of the EFCC (ACE II) Rotimi Enitan Ajobiewe, prayed the court to fix a date for trial and remand the defendant in the custody of the Nigerian Correctional Service pending the hearing of the case.
However, defence counsel, Roy O. U. Nwaeze, SAN, informed the court that a bail application had already been filed and urged the court to admit his client to bail.
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In his ruling, Justice Giwa-Ogunbanjo granted Gladys bail in the sum of N200 million with two sureties in like sum. The court held that the sureties must own landed property within the jurisdiction of the court.
The judge also ordered the defendant to deposit her international passport with the court registrar and directed the EFCC to verify the addresses of the sureties within seven days.
The case was adjourned until November 11, 2026, for the commencement of trial.
The EFCC alleged that the defendant, while serving as Group Managing Director of Brass Engineering and Construction Nigeria Limited, received the cash payments outside the banking system, contrary to the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
