Anti-graft Re-Arraigns Former SMEDAN Chairman, Masari for Alleged N119m Money Laundering

The Economic and Financial Crimes Commission, EFCC, on Thursday, 23rd of May, 2024, re-arraigned the former Director General of Small and Medium Enterprises Development Agency of Nigeria, SMEDAN, Bature Umar Masari on an amended 22- count charge of alleged money laundering before Justice O.A Egwuatu of the Federal High Court sitting in Maitama, Abuja.

This was conveyed in a post shared on the official Facebook page of the anti-graft agency on Monday, 27th of May, 2024.

According to the agency, Masari’s arraignment was sequel to his alleged involvement in N119, 507,080 (One Hundred and Nineteen million, Five Hundred and Seven Thousand, Eighty Naira), money laundering and gratification.

Prosecution Counsel, Ekele Iheanacho told the court of a 22 amended count charge of 13th of May, 2013, and filed on May 17, 2019, which he said, was before the court.

He however prayed the court for the charges to be read to the defendant, in order for him to take his plea.

Count 19 of the charge reads:

“That you Bature Umar Masari between 27th June, 2014 and 17th July, 2014 at Abuja within the Jurisdiction of this Honourable Court did use the sum of N10,000,000.00 (Ten million naira) paid into your Diamond Bank Plc Account No. 002688674 by Rahuse Ventures Limited when you reasonably ought to have known that the said N10,000,000.00 was proceeds of unlawful activities to wit: conspiracy and gratification and you thereby committed an offence contrary to Section 15(2)(d) of the Money Laundering Prohibition Act 2011 as amended by Act No. 1 of 2012) and punishable under section 15(3) of the same Act.

Count 20 reads: “That you Bature Umar Masari between 14th July, 2014 and 21st July, 2014 at Abuja within the Jurisdiction of this Honourable Court did use the sum of N10,000,000.00 (Ten Million Naira) paid into your Diamond Bank Plc Account No. 002688674 by Rahuse Ventures Limited when you reasonably ought to have known that the said N10,000,000.00 was proceed of unlawful activities to wit: conspiracy and gratification and you thereby committed an offence contrary to Section 15(2)(d) of the Money Laundering Prohibition Act 2011 as amended by Act No. 1 of 2012) and punishable under Section 15(3) of the same Act”.

After the charges were read to the defendant, he pleaded “not guilty” to all the charges. [CONTINUE READING HERE]>>>>