A staff member of the Ebonyi State Accountant-General’s office appeared in a Nigerian federal court Thursday on money laundering charges, accused of structuring more than $39,600 in government funds across a series of cash transactions designed to evade mandatory financial reporting requirements.
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) arraigned Obasi Nicholas Sunday before Justice H.I.O. Oshomah of Federal High Court 1 in Abakaliki, the Ebonyi State capital, on two counts filed under the Money Laundering (Prevention and Prohibition) Act of 2022.
Prosecutors allege that Obasi, who served as a signatory to the Ebonyi State Government Shopping Mall Account held at United Bank for Africa (UBA), withdrew approximately $39,600 from the account in August 2020 in six separate installments of roughly $6,490 each, plus an additional $650 — a pattern consistent with a practice known as structuring, in which transactions are deliberately broken into smaller amounts to avoid triggering automatic bank reporting thresholds.
Obasi then allegedly deposited nearly the full amount — approximately $39,562 — into the personal UBA account of a state government contractor identified as Ikechukwu Obiukwu, again using the same structured instalment approach.
The defendant pleaded not guilty to both charges. His attorney, Michael Ngwu, applied for bail, which prosecutors did not oppose. Justice Oshomah granted bail on condition that Obasi post a bond of approximately $6,490 and secure the Ebonyi State Accountant-General as personal surety — an unusual condition that places direct accountability on one of the state’s most senior finance officials. Both the defendant and surety are required to sign formal undertakings and submit recent passport photographs to the court.
Trial is scheduled to begin on March 24 and 25.
If convicted, Obasi faces penalties under Section 19(2)(b) of the money laundering statute. The ICPC did not disclose what became of the funds or whether charges against the contractor, Obiukwu, are anticipated.
