The Economic and Financial Crimes Commission (EFCC) has arraigned the Managing Director of Brass Engineering and Construction Nigeria Limited, Egwuche Gladys, over alleged money laundering involving $600,000.
Gladys, alongside Brass Engineering and Construction Nigeria Limited, was arraigned before the High Court sitting in Independence Layout, Enugu, on a 12-count charge bordering on alleged violations of the Money Laundering (Prevention and Prohibition) Act, 2022.
The charges stem from allegations that the defendant, while serving as the company’s Group Managing Director, accepted cash payments of $50,000 in 12 tranches between March 13 and April 11, 2023, amounting to a total of $600,000.
According to the EFCC, the payments were made as part of the purchase price for a 180220TPH Granite Stone Crushing Line sold by Brass Engineering and Construction Nigeria Limited to Patan Nigeria Limited and Reinforce Global Resources Limited (JV).
The anti-graft agency alleged that the transactions exceeded the statutory cash payment threshold of ₦10 million and were conducted outside the banking system, contrary to the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
Count one of the charges reads: “That you, Brass Engineering and Construction Nigeria Limited and Mrs. Egwuche Chinyere Gladys, while being the Group Managing Director of Brass Engineering and Construction Nigeria Limited on the 13th of March, 2023 at Abakaliki, within the jurisdiction of the Federal High Court of Nigeria, accepted cash payment of $50, 000 (Fifty Thousand United States Dollar), being part payment for a 180220TPH Granite Stone Crushing Line you sold to Patan Nigeria Ltd and Reinforce Global Resources Ltd (JV) which exceeded the statutory required threshold of N10, 000, 000. 00 (Ten Million Naira) without passing through a financial institution and in violation of this provision, you thereby committed an offence contrary to Section 2 (1) of the Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under Section 19 (2) (b) of the same Act”.
Count three of the charges reads: “That you, Brass Engineering and Construction Nigeria Limited and Mrs. Egwuche Chinyere Gladys, while being the Group Managing Director of Brass Engineering and Construction Nigeria Limited on the 15th of March, 2023 at Abakaliki, within the jurisdiction of the Federal High Court of Nigeria, accepted cash payment of $50, 000 (Fifty Thousand United States Dollars), being part payment for a 180220TPH Granite Stone Crushing Line you sold to Patan Nigeria Ltd and Reinforce Global Resources Ltd (JV) which exceeded the statutory required threshold of N10, 000, 000. 00 (Ten Million Naira) without passing through a financial institution and in violation of this provision, you thereby committed an offence contrary to Section 2 (1) of the Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under Section 19 (2) (b) of the same Act”.
The defendant pleaded not guilty to all 12 counts when they were read in court.
Following the plea, prosecution counsel and Assistant Commander of the EFCC, Rotimi Enitan Ajobiewe, urged the court to fix a trial date and order the defendant’s remand at the Nigerian Correctional Service facility in Enugu pending the commencement of trial.
Defence counsel, Roy O. U. Nwaeze, however, informed the court that a bail application had already been filed on behalf of his client and urged the court to grant the application.
In his ruling, Justice Giwa-Ogunbanjo admitted Gladys to bail in the sum of ₦200 million with two sureties in like sum. The court directed that each surety must own property within the court’s jurisdiction and ordered the defendant to surrender her international passport to the court’s registrar. The judge also directed the EFCC to verify the addresses of the sureties within seven days.
The matter was subsequently adjourned until November 11, 2026, for the commencement of trial.