ICPC Arraigns Ebonyi Accountant Over N61m Money-Laundering Allegations

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has arraigned Obasi Sunday before the Federal High Court sitting in Abakaliki, Ebonyi State, over alleged money-laundering offences involving N61 million.

Obasi, a staff member in the Office of the Accountant-General of Ebonyi State and a signatory to the Ebonyi State Government Shopping Mall Account domiciled with United Bank for Africa (UBA), was accused of engaging in structured cash transactions to evade mandatory reporting requirements.

In a statement issued Monday, ICPC spokesman, John Odey, said the defendant was arraigned before Justice H. Oshomah of the Federal High Court, Abakaliki Judicial Division, on a two-count charge.

According to the charge, Obasi allegedly withdrew a total of N61,000,000 from the government account in August 2020 in six tranches of N10,000,000 and an additional N1,000,000, with the intent to avoid statutory reporting obligations.

The Commission further alleged that within the same period, he deposited N60,941,725 into the UBA account of one Ikechukwu Obiukwu, described as a contractor to the Ebonyi State Government, in structured instalments of N10,000,000 and N941,725, also allegedly to evade reporting requirements.

“The offences are said to be contrary to Section 19(1)(c) and punishable under Section 19(2)(b) of the Money Laundering (Prevention and Prohibition) Act, 2022,” the statement said.

Upon arraignment, the defendant pleaded not guilty to both counts.

Counsel to the ICPC, Agbili Kingsley, applied for a trial date, while defence counsel, Michael Ngwu, moved a bail application, which was not opposed by the prosecution.

The court granted the defendant bail in the sum of N10 million with one surety, who must be the Accountant-General of the state. The surety is required to sign an undertaking to produce the defendant in court, with two recent passport photographs attached. The defendant is also to sign a similar undertaking.

The case was adjourned to March 24 and 25, 2026, for commencement of hearing.

The arraignment is part of ongoing prosecutions by the ICPC involving senior officials in government ministries and agencies over alleged financial and administrative offences. On January 29, the Commission arraigned Yusuf Mustapha, a Deputy Director at the Nigerian Investment Promotion Commission, before the FCT High Court in Maitama, Abuja, over alleged forgery.