Justice Ayokunle Faji of the Federal High Court sitting in Ikoyi, Lagos, on Thursday convicted Dr. Olufemi Martins Thomas, a former Executive Secretary of the National Health Insurance Scheme, NHIS, and a Bureau De Change Operator, Kabiru Sidi for $2.2m money laundering.
They were convicted on a seven-count amended charge preferred against them by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC.
Thomas was arraigned on six counts, while Sidi was arraigned on one count of making false statements to the EFCC.
One of the counts reads: “That you, Dr. Olufemi Martins Thomas (a.k.a. Dr. O. M. Thomas), on or about the 3rd of July, 2015, in Lagos, procured Mrs. Femi Thomas to move the sum of $2,198,900.00 (Two Million, One Hundred and Ninety-eight Thousand, Nine Hundred United States Dollars) cash to Mr. Kabir Sidi, which sum exceeded the amount authorised by law to be moved in cash, and thereby committed an offence contrary to Section 18(a) and 15(2)(a) of the Money Laundering (Prohibition) Act, 2011 as amended by Act No.1, 2012 and punishable under Section 15(3) of the same Act.”
Another count reads: “That you, Dr. Olufemi Martins Thomas (a.k.a. Dr. O. M. Thomas), on or about the 3rd of July, 2015, in Lagos, procured Mrs. Femi Thomas to, on your behalf, make a cash payment of the sum of $2,198,900.00 (Two Million, One Hundred and Ninety-eight Thousand, Nine Hundred United States Dollars) to Mr. Kabiru Sidi, which sum exceeded the amount authorised by law to be paid in cash, and thereby committed an offence contrary to Section 18(a) and 1(1)(a) of the Money Laundering (Prohibition) Act, 2011 as amended by Act No.1, 2012 and punishable under Section 16(2)(b) of the same Act.”
He pleaded “not guilty” to the charges.
In the course of the trial, the prosecution, led by Ekele Iheanacho, SAN, called six witnesses and tendered documentary evidence to establish the case against the defendants.
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In his final written address, the prosecution argued that the defendant failed to give any credible explanation as to the source of the $2.2m and that he could not prove that it was from his farm, his wife’s property or rent.
He further argued that there were no tenancy agreements, receipts or any document showing how he earned rent from properties.
He also stated that the claim that he got the money from his farm was untrue, adding that, “The audited accounts he presented showed that the company was registered in 2008 and began operation in 2014. He claimed that he earned over N354m from the farm in 2014. But the audited account showed he earned N3.9m.
“There is no nexus between the company account and the payment he claimed to have made into his wife’s account. There was no document from his farm showing any income that generated $2.2m. Also, he claimed that he got the money from rent. But the account he tendered showed that he spent N18.5m on the properties.
“He also claimed that the money came from Ekiti, but the money was found in Lagos. He was unable to prove where he got the money from and how the money came into the system. He should be convicted as charged.”
He urged the court to hold that the prosecution proved its case against the defendants beyond reasonable doubt.
The defence, in its final written address, had argued that the EFCC failed to prove the offence and that the prosecution’s case was built on suspicion and assumptions.
Justice Faji held that the prosecution successfully proved the case of money laundering against Thomas and false declaration against Sidi.
Consequently, Justice Faji found the defendants guilty and convicted them as charged.
The Conclave
