An official from the National Drug Law Enforcement Agency (NDLEA), Uduo Achu, testified in the Federal High Court in Lagos about the money laundering activities of a convicted drug baron named Steve Adigwe, also known as Isioma Obobo.
Achu revealed that Adigwe received large sums of money from illicit drug trade and attempted to conceal the origin of the funds, which amounted to over N400 million. Adigwe had previously been convicted and sentenced to three years in prison for trafficking cocaine, but was ordered to pay a fine of N500,000 instead. He is now facing a fresh charge of illegal importation of 75.75 kilograms of Cannabis Indica. Achu explained that during his investigation, he analyzed Adigwe’s bank statements and discovered a pattern of suspicious transactions consistent with money laundering
He found that the defendant received and retained a total of N143 million from one Emmanuel Chika’s Guaranty Trust Bank, and transferred about N137.53 million from his own bank accounts to his company’s corporate bank account, Isinobong Nig. Limited, in order to hide the origin of the funds. Achu also revealed that the defendant’s accounts were linked to companies with unverifiable addresses, and transactions were made without proper documentation. He further stated that the defendant’s phone records showed evidence of drug transactions, including negotiations for price and payments made into the company’s account. The witness’s testimony was supported by the submission of the defendant’s bank statements as evidence.
The defense counsel requested an adjournment for cross-examination, and the trial was scheduled to continue on June 10 and 11, 2024.
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