The Economic and Financial Crimes Commission (EFCC) has arraigned the Group Managing Director of Brass Engineering and Construction Nigeria Limited, Egwuche Chinyere Gladys, over allegations of illegally receiving $600,000 in cash in violation of Nigeria’s anti-money laundering laws.
Gladys was brought before Justice F. O. Giwa-Ogunbanjo of the Federal High Court in Enugu, alongside her company, to face a 12-count charge bordering on alleged money laundering and unlawful cash transactions.
EFCC Alleges Illegal Cash Payments
According to the anti-graft agency, the defendant and her company accepted a total of $600,000 in cash through 12 separate transactions conducted between March 13 and April 11, 2023.
The EFCC alleged that the payments were made as part of the purchase of a 180–220 tonnes-per-hour granite stone crushing plant sold to Patan Nigeria Limited and Reinforce Global Resources Limited (JV).
Prosecutors argued that each payment of $50,000 exceeded the legal threshold for cash transactions under the Money Laundering (Prevention and Prohibition) Act, 2022, which requires such payments to be processed through licensed financial institutions.
The Commission maintains that bypassing the banking system constituted a breach of Nigeria’s anti-money laundering regulations.
Defendant Pleads Not Guilty
When the charges were read in court, Gladys pleaded not guilty to all the allegations.
Following her plea, EFCC prosecuting counsel, Assistant Commander of the EFCC (ACE II) Rotimi Enitan Ajobiewe, requested the court to fix a date for trial and remand the defendant pending further proceedings.
However, defence counsel Roy O. U. Nwaeze (SAN) urged the court to grant his client bail, citing an earlier application already before the court.
Court Grants ₦200 Million Bail
Justice Giwa-Ogunbanjo granted the defendant bail in the sum of ₦200 million, with two sureties required to provide the same amount.
The court ruled that each surety must own landed property within the court’s jurisdiction. It also directed the defendant to surrender her international passport to the court’s registrar while ordering the EFCC to verify the addresses of the sureties within seven days.
The case was subsequently adjourned until November 11, 2026, for the commencement of trial.
EFCC Intensifies Money Laundering Crackdown
The prosecution forms part of the EFCC’s ongoing efforts to enforce compliance with Nigeria’s financial regulations and clamp down on large cash transactions that violate anti-money laundering laws.
If convicted, the defendant and her company could face penalties under the Money Laundering (Prevention and Prohibition) Act, 2022.
Keywords: EFCC, Egwuche Chinyere Gladys, Brass Engineering and Construction, $600,000 fraud, money laundering, Enugu Federal High Court, EFCC arraignment, Nigeria anti-money laundering law, financial crimes, breaking news Nigeria.
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