The Economic and Financial Crimes Commission (EFCC) has arraigned the Group Managing Director of Brass Engineering and Construction Nigeria Limited, Mrs. Egwuche Chinyere Gladys, alongside the company, over alleged money laundering and abuse of office involving $600,000 (about ₦827 million).
The EFCC, in a statement posted on its official X account, said the defendants were arraigned before Justice F. O. Giwa-Ogunbanjo of the Federal High Court sitting in Independence Layout, Enugu, on a 12-count charge bordering on alleged violations of the Money Laundering (Prevention and Prohibition) Act, 2022.
According to the anti-graft agency, Gladys allegedly received $50,000 in cash on 12 occasions between March 13 and April 11, 2023, amounting to a total of $600,000, without processing the transactions through a financial institution as required by law.
The EFCC alleged that the payments were part of the purchase price for a 180220TPH Granite Stone Crushing Linesold to Patan Nigeria Limited and Reinforce Global Resources Limited, and exceeded the statutory cash transaction threshold of ₦10 million.
The commission said the alleged actions contravene Section 2(1) of the Money Laundering (Prevention and Prohibition) Act, 2022, and are punishable under Section 19(2)(b) of the same Act.
The defendant pleaded not guilty to all the charges.
Following the plea, EFCC counsel, Assistant Commander Rotimi Ajobiewe, requested a trial date and urged the court to remand the defendant in the custody of the Nigerian Correctional Service pending trial.
However, defence counsel, Roy O. U. Nwaeze (SAN), moved a pending bail application and urged the court to grant his client bail.
Justice Giwa-Ogunbanjo subsequently granted Gladys bail in the sum of ₦200 million with two sureties in like sum. The court ruled that each surety must own property within the court’s jurisdiction.
The judge also directed the defendant to deposit her international passport with the court registrar and ordered the EFCC to verify the addresses of the sureties within seven days.
The matter was adjourned until November 11, 2026, for the commencement of trial.
