The Federal High Court sitting in Lagos has ordered the remand of businessman, Fidelix Ebuka over alleged involvement in a ₦90.9 million money laundering case brought against him by the Economic and Financial Crimes Commission (EFCC).
Ebuka was arraigned before Justice Yellim Bogoro by the Lagos Zonal Directorate of the anti-graft agency on a one-count charge bordering on the alleged retention of proceeds of unlawful activities.
According to the charge, Ebuka allegedly, on or about April 15, 2026, within the jurisdiction of the court, retained the sum of ₦90,989,517 in his Union Bank account (number 0069938215).
The EFCC told the court that the funds were suspected to be proceeds of unlawful activity, which the defendant “reasonably ought to have known” were illicit in origin.
The charge is said to be contrary to Section 18(2)(d) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.
The commission maintained that the alleged offence runs contrary to the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
When the charge was read in court, Ebuka pleaded not guilty.
Following his plea, prosecution counsel, H.U. Kofarnaisa, urged the court to fix a date for trial and also requested that the defendant be remanded in a correctional facility pending the determination of the case.
However, defence counsel, Bimbo Ogunlaja, informed the court of the need for an adjournment to enable the defence file and argue a formal bail application on behalf of his client.
After hearing from both parties, Justice Bogoro adjourned the matter until June 29, 2026, for the hearing of the bail application and the commencement of trial.
The court further ordered that Ebuka be remanded in a correctional facility pending the determination of his bail application.