EFCC Calls First Witness in N458m Lagos Money Laundering Trial
The Economic and Financial Crimes Commission (EFCC) on Tuesday presented its first prosecution witness in the trial of Ibrahim Habib Ibrahim, accused of allegedly laundering N458 million.
The witness, Emmanuel Adeyemi, Head of the Fraud Prevention and Investigation Department at Unity Bank, testified before Justice Alexander Owoeye of the Federal High Court, Ikoyi, Lagos. Ibrahim faces a two-count charge of money laundering totaling N458,396,967.50 and has pleaded “not guilty.”
Adeyemi told the court that Unity Bank’s database was compromised on 24 and 25 December 2021, resulting in the fraudulent transfer of funds from nine customer accounts to various other bank accounts. Following the breach, the bank reported the matter to the EFCC, seeking assistance in investigating the fraud and tracing the methods used by the perpetrators.
The witness confirmed the authenticity of the bank’s petition and preliminary investigation report, signed by Olusegun Famoriyo, Chief Audit Executive, and Ebenezer Kolawole, then Executive Director, Finance and Operations, now Managing Director of Unity Bank.
Adeyemi noted that Famoriyo is currently in Canada on holiday, while Kolawole is away on official duty.
Prosecution counsel S.I. Suleiman subsequently tendered the petition and documents into evidence, which were admitted by the court.
The trial was adjourned to 20 May 2026 for continuation.
