The Economic and Financial Crimes Commission (EFCC) is preparing to arraign Bello Abdullahi Bodejo before the Federal High Court in Abuja over a 12-count charge of terrorism financing and money laundering involving approximately $2.53 million.
The anti-graft agency filed the charges on Monday, June 22, 2026, accusing Bodejo of receiving and possessing substantial foreign currency sums allegedly derived from unlawful activities, in violation of Nigeria’s money laundering statutes.
The charges, brought under the Money Laundering (Prohibition) Act 2011 (as amended) and the Money Laundering (Prevention and Prohibition) Act 2022, centre on cash transactions that exceeded the statutory N5 million threshold and were reportedly not channelled through financial institutions. The EFCC alleged that Bodejo accepted the funds from Sa’idu Abubakar, a former Accountant-General of Bauchi State who is currently in the lawful custody of the Nigeria Police Force. Bodejo has been linked to Bauchi State Governor Bala Mohammed, though the governor is not named in the charges.
According to the charge sheet, the alleged illicit receipts include $100,000 on January 11, 2022; $200,000 on January 21, 2022; $500,000 on March 20, 2024; and $980,000 on February 7, 2024. The EFCC maintained that these cash payments, all conducted in Abuja, breached the legal cash transaction limit and were not processed through any financial institution, rendering them unlawful under Section 16(1)(d) of the 2011 Act and Section 19(1)(d) of the 2022 Act.
In a separate count, the commission alleged that Bodejo took possession of the $980,000 on February 7, 2024, under circumstances in which he either knew, or reasonably ought to have known, that the funds constituted proceeds of unlawful activity—specifically money laundering. This offence is contrary to Section 18(2)(d) of the Money Laundering (Prevention and Prohibition) Act 2022 and carries penalties under Section 18(3).
The legal proceedings mark the commencement of what is expected to be a high-profile financial crime trial, with the EFCC poised to press its case once Bodejo is formally arraigned and enters his plea.
The court is yet to fix a date for the arraignment, with further proceedings anticipated in the coming weeks.