EFCC Arraigns P&ID Commercial Director For Money Laundering
The Economic and Financial Crimes Commission (EFCC) on Monday arraigned the commercial director of Process and Industrial Development (P&ID), Muhammed Kuchazi on eight charges of money laundering before Justice Folashade Giwa-Ogunbanjo of the Federal High Court, Abuja.
Kuchazi was arraigned alongside his company, Kore Holdings Limited on alleged money laundering related charges.
The company is the first defendant in the suit marked: FHC/ABJ/CR/319/2020 while Kuchazi is the second defendant.
The EFCC counsel, Bala Sanga told the court that Kuchazi is the sole signatory to the company and would have benefitted the sum of $300 million in the P&ID’s $9.6 billion judgment deal against Nigeria should the case succeeded.
However, after the counts were read to him, Kuchazi pleaded not guilty.
Sanga prayed the court to remand him in Kuje Correctional Centre, pending the determination of the matter. But Kuchazi’s counsel, Aniah Okwen, moved an oral bail application for his client on medical ground.
Okwen urged the court to allow Kuchazi to be kept at the EFCC custody, while praying the court for a short time to file the bail application.
Justice Giwa-Ogunbanjo adjourned the matter to April 27 and 28 2021 for trial while the hearing of his bail application is fixed for February 4, 2021.