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Man with $188,858 changes guilty plea

Published on January 21, 2013 by   ·   4 Comments

Nnamdi Felix / Abuja

An alleged money launderer, Abdulrasheed Ibrahim, who was slated for sentencing on Monday having pleaded guilty to an alleged attempt to launder $188, 858 out of Nigeria through a Dubai/United Arab Emirates bound Ethiopian Airline, stunned a federal high court sitting in Abuja when he denied his earlier admittance of guilt.

The court presided by Justice Adamu Bello, subsequently deferred the scheduled sentencing following the development.

Ibrahim had on January 17, pleaded guilty to a one count charge that was preferred against him by the Economic and Financial Crimes Commission, EFCC, only to tell the trial court at the resumed hearing that he did not properly understand the charge on that day.

He accused the anti graft agency of misrepresenting the facts about the case and claimed that contrary to the allegation that he concealed some money on him on the day he was apprehended, he told the court that he had duly declared everything to Custom Officers at the airport where he was nabbed.

The EFCC had on November 7, 2012, arrested the accused person on allegation that he attempted to launder $188, 858 out of Nigeria through a Dubai/United Arab Emirates bound Ethiopian Airline.

The EFCC alleged that though he declared the sum of $45, 000 as the total amount of cash on him, a search on him however revealed that he actually concealed monies totaling $188, 858.

Following his new plea, Justice Adamu Bello adjourned the case to Wednesday 23rd and granted the accused bail in the sum of N1 million and one surety in like sum. 

The charge against Abdulrasheed Ibrahim reads: “That you Abdulrasheed Ibrahim on or about the 7th of November 2012 at the Nnamdi Azikiwe International Airport, Abuja within the jurisdiction of the Federal High Court while transporting in cash the sum of US 188,858.00 (One hundred and eighty eight thousand, eight hundred and fifty eight United States dollars) only from Nigeria to Dubai, United Arab Emirates falsely declared to the Nigerian Customs Service the sum of $45,000.00 (forty five thousand United State dollars) only instead of the said sum of US$188,858.00 as required under section 12 of the foreign exchange (monitoring and miscellaneous provisions) Act Cap. F34 Laws of the Federation of Nigeria 2004 and Section 2(3) of the Money Laundering (Prohibition) Act, 2011 and thereby committed an offence punishable under section 2(5) of the money laundering (Prohibition) Act, 2011.”

Posted by on January 21, 2013, 8:43 pm. Filed under Business, Currency. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

4 Comments for “Man with $188,858 changes guilty plea”


    The question remains : WHAT IS THE source OF THESE FUND?



  3. Wale

    The source of the fund is already known if he is in the business of buying and selling; Kara kata, He just doesn’t trust Nigerian banks with his money, like any sensible person, you wanna put your nesting eggs in a secure and dependable place, your banks are not part of that.
    Banks full of rogues, from Central head to the lowest bottom.
    If you really look into it, you’ll found that this man has never worked for the government and if that is true, then he’s probably not major part of the problem.

  4. Rico

    If this guy has been working for a politician, he could have been freed a long time ago, he sounds like a honest businessman, but he broke the law by not declaring all of it, but they have made too much noise about it, while those that did worse was never heard.

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