Alleged N19m money laundering: EFCC rearraigns former SMEDAN DG, Bature Umar Masari

The Economic and Financial Crimes Commission (EFCC) has again arraigned Bature Umar Masari, a former Director General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), on an amended 22-count charge of alleged money laundering.

Masari’s arraignment follows his alleged involvement in the laundering of N119,507,080 and receiving gratification.

During the proceedings on Tuesday, the prosecution counsel, Ekele Iheanacho, informed the judge of an amended 22-count charge dated May 13, 2013, and filed on May 17, 2019, which was presented before the court.

Count 19 of the charge states: “That you, Bature Umar Masari, between 27th June 2014 and 17th July 2014, in Abuja within the jurisdiction of this Honourable Court, did use the sum of N10,000,000.00 (Ten million naira) paid into your Diamond Bank Plc Account No. 002688674 by Rahuse Ventures Limited when you reasonably ought to have known that the said N10,000,000.00 was proceeds of unlawful activities, namely conspiracy and gratification, thereby committing an offence contrary to Section 15(2)(d) of the Money Laundering Prohibition Act 2011 (as amended by Act No. 1 of 2012) and punishable under Section 15(3) of the same Act.”

Count 20 reads: “That you, Bature Umar Masari, between 14th July 2014 and 21st July 2014, in Abuja within the jurisdiction of this Honourable Court, did use the sum of N10,000,000.00 (Ten million naira) paid into your Diamond Bank Plc Account No. 002688674 by Rahuse Ventures Limited when you reasonably ought to have known that the said N10,000,000.00 was proceeds of unlawful activities, namely conspiracy and gratification, thereby committing an offence contrary to Section 15(2)(d) of the Money Laundering Prohibition Act 2011 (as amended by Act No. 1 of 2012) and punishable under Section 15(3) of the same Act.”

The defendant pleaded not guilty to all the charges, prompting the prosecution counsel to request a trial date.

However, the defense counsel, Okechukwu Edeze, informed the court that the matter was initially before Justice Okong Abang before his elevation to the Court of Appeal. He stated that Justice Abang had granted bail to the defendant on May 24, 2019, and since then, Masari has been complying with the bail conditions.

Edeze requested the court to allow his client to continue enjoying the bail previously granted by Justice Abang.

After hearing all arguments, Justice O. A Egwuatu granted the defendant’s request and adjourned the matter until July 16, 2024, for the commencement of trial.