EFCC Arraigns Businessman For N110m Money Laundering Scam

The Economic and Financial Crimes Commission, EFCC, on Thursday March 19, 2020, arraigned one Babatunde Morakinyo, Iretidu LTD and Tree Four Universal Concept Limited, on a 23 count charge for Money Laundering contrary to Section 5 (1) (a) of the Money Laundering (Prohibition) Act to the tune of N110,000,000 (One Hundred and Ten Million Naira) only. They are being prosecuted before Justice A R Muhammed of the Federal High Court, Abuja. One of the charge reads: “That you, Iretidu (a Designated Non-Financial Institution(“DNFI”) and BABATUNDE Morakinyo, being Director of the…

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