Categories: All News

P&ID Director Arraigned For Money Laundering

The Economic and Financial Crimes Commission, Abuja zone on Monday, February 1, 2021, arraigned a Commercial Director of the Process and Industrial Development, (P&ID) Limited, Mohammed Kuchazi before Justice F.O. Giwa, of the Federal High Court, Abuja.


Kuchazi and his company Kore Holdings Limited are being prosecuted on an eight count charge bothering on failure to comply with the regulations of the Special Control Unit against Money Laundering, SCUML, as stipulated by the Money Laundering Prohibition Act.

Count One of the charge reads: “That you Kore Holdings Limited, being a Designated Non-Financial Institution; Muhammed Kuchazi, being a Director of and signatory to the bank account of Kore Holdings Limited, sometimes in May 2014, in Abuja, within the Abuja Judicial Division of the Federal High Court, failed to comply with the requirements of submitting, to the Federal Ministry of Industry, Trade and Investment, a declaration of the activities of Kore Holdings Limited contrary to Section 16(1) (f) read together with section 5(1) (a) (ii) of the Money Laundering (Prohibition) Act, 2011 (as amended) and you thereby committed an offence punishable under section 16 (2)(b) of the same Act”.

Kuchazi pleaded not guilty when the charge was read to him.


Prosecution counsel, Bala Sanga prayed the court for a trial date and remand of the defendant in the custody of the Nigerian Correctional Centre. The defence counsel, Aniah Ikwen, however pleaded with the Court to grant his client bail on health grounds. Justice F.O. Giwa declined the defence counsel’s request stating that the prayer cannot be granted where the defendant’s bail application has not been served to EFCC.

After listening to both counsel, the Judge remanded the defendant in EFCC’s custody and adjourned the matter till February 4, 2021 for hearing of the bail application, while fixing April 27 and 28, 2021 for commencement of trial.

Lola Smith

Recent Posts

Latest findings from antibody surveillance study published

For the first time, the study captures participants who have received a COVID-19 vaccine, and… Read More

February 25, 2021

EndSARS: Kwara Gov receives panel report, to set up implementation committee

Kwara State Governor AbdulRahman AbdulRazaq has received a three-volume report from the Justice Tunde Garba-led… Read More

February 25, 2021

Olupo’s death: AbdulRazaq leads Kwara delegation, party elders to Ajase-Ipo

Kwara State Governor AbdulRahman AbdulRazaq on Wednesday led top government functionaries, chieftains and members of… Read More

February 25, 2021

Makinde to declare Hijrah holiday from Next Year

...charges Muslims and non-Muslims to embrace peaceful coexistence ...as state marks Mawlud Nabbiyy celebration Governor… Read More

February 25, 2021

OGUN GOVT REVIVES DORMANT IMASAYI CASHEW NUT PROCESSING PLANT

As part of efforts to boost the processing and exportation of cashew nuts in Ogun… Read More

February 25, 2021

PROCEEDS FROM N100BN BOND UTILISED FOR CAPITAL PROJECTS – LAGOS DEBT MANAGEMENT OFFICE

The Permanent Secretary, Lagos State Debt Management Office (DMO), Mr. Olujimi Ige, has disclosed that… Read More

February 25, 2021

This website uses cookies.