Following the discovering of alleged money laundering and diversion of N825.9 million, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) has arraigned Access Bank Plc and one of its staff members, Abdulmalik Abubakar, a relationship manager with the Sokoto branch of the Bank, in court.
The arraignment of the bank and Abubakar before the Sokoto Judicial Division followed a thorough investigation carried out by the ICPC which discovered that the Access Bank concealed certain facts over stolen funds, conspiracy and money laundering.
The charge sheet indicated that in count one, accused the defendants of creating a fake “Internal Revenue Service Account” with number 1873016763, through which they received N825.9 million between May 2024 and January 2025, in violation of the Nigeria’s Money Laundering Act of 2022 and the Corrupt Practices Act of 2000.
Similarly, count two showed that the ICPC accused the defendants of allegedly concealing the same funds through the same fraudulent account, believed to have been created at Access Bank, Sokoto branch.
According to the documents before the court, the bank and Abubakar committed an offence contrary to section 18 (2)(a) and punishable under sections 18(3), 18 (4), 22(1) and 22(2) of the Money Laundering (Prevention and Prohibition) Act, 2022.
In count three, the prosecutors said that the money was fraudulently received through the fake account, thereby committed an offence contrary to section 13 and punishable under section 68 of the Corrupt Practices and Other Related Offences Act, 2000.
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in the same vein, count four stated that Abubakar and the bank directly concealed the laundered funds, thereby committed an offence contrary to and punishable under section 24 of the Corrupt Practices and Other Related Offences Act, 2000.
The ICPC said the money was diverted without authorisation and concealed in breach of anti-corruption and money laundering laws.
A hearing notice signed on May 2, 2025, indicated that the case had been moved from the General Cause List to a hearing set for May 19 and if the hearing does not take place on the scheduled date, it will be rescheduled without further notice.
The notice directed that either party wishing to postpone must apply to the court promptly and provide proof of the reason(s) involved.
The court also directed that at the hearing, both parties must present all evidences, including witnesses and documents which must be submitted during the hearing, warning that failure to do so may result in exclusion or costs.
The Court also directed the parties wanting witnesses to attend to request the court to issue summons, allowing enough time to notify them, adding that if witnesses must bring documents, they must be clearly specified among others.
