EFCC Arraigns Construction Firm GMD Over Alleged $600,000 Money Laundering

The Economic and Financial Crimes Commission, EFCC, has arraigned the Group Managing Director of Brass Engineering and Construction Nigeria Limited, Egwuche Chinyere Gladys, over an alleged $600,000 money laundering offence.

Gladys and the construction firm were arraigned before Justice F. O. Giwa Ogunbanjo of the Federal High Court in Enugu on a 12 count charge bordering on money laundering.

According to the EFCC, the defendant allegedly received cash payments totaling $600,000 in twelve tranches between March 13 and April 11, 2023, as part payment for a 180220TPH Granite Stone Crushing Line sold to Patan Nigeria Limited and Reinforce Global Resources Limited.

The anti graft agency alleged that each cash payment of $50,000 exceeded the legal threshold of N10 million and was received outside a financial institution, contrary to the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.

The defendant pleaded not guilty to all the charges.

Following her plea, the prosecution urged the court to remand her in the custody of the Nigerian Correctional Service pending trial, while the defence applied for bail.

Justice Giwa Ogunbanjo granted the defendant bail in the sum of N200 million with two sureties in like sum.

The court ordered that each surety must own property within the court’s jurisdiction, while the defendant is to deposit her international passport with the court registrar.

The EFCC was also directed to verify the addresses of the sureties within seven days.

The matter was adjourned to November 11, 2026, for the commencement of trial.