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Money laundering

Apr 3, 2026

FRN vs Ademola Banu (Ex-Commissioner for Finance, Kwara State) & 2 others

Humans

Ademola Banu
& 2 others

Money bag

N411,000,000.00
Amount allegedly laundered

Money bag

Case Summary
The Defendants were alleged to have conspired among themselves to defraud the Government of Kwara State of the said sum, and convert the money to their personal use.

Calendar

2,256
Day(s) since arraignment

Gavel

Case Update
The court admitted each of the defendants to bail in the sum of N200 million with one surety in like sum who must have a landed property in Ilorin and must submit the Certificate of Occupancy to the Registrar of court which should be verified by the EFCC. The trial Judge also ordered the defendants to deposit their travel documents including passports, forbidding the defendants from travelling out of the country without the permission of the court.

Court house

Hon. Justice B. G. Ashigar
Federal High Court, Ilorin, Kwara

Legislation

ACJA/ACJL Compliance - complied

Case Information
Ademola Banu & 2 others
Presiding Judge & Designated Court
Hon. Justice B. G. Ashigar, Federal High Court, Ilorin, Kwara
Nature and Number of Charges
9-count charge bordering on conspiracy, fraud and money laundering.
Date of 1st Arraignment
Jan 29, 2020
Summary of Case
The Defendants were alleged to have conspired among themselves to defraud the Government of Kwara State of the said sum, and convert the money to their personal use.
Defendant(s) and Plea entered on Arraignment
1. Ademola Banu (Ex Commissioner for Finance, Kwara State) – Not Guilty
2. Olarewaju Adeniyi – Not Guilty
3. Travel Messenger Limited (Company) – Not Guilty
Defence Counsel(s)
1. Gboyega Oyewole (Senior Advocate of Nigeria)
2. Bamidele Ibironke (Lawyer)
Prosecuting Agency
Economic and Financial Crimes Commission
Prosecutor(s)
1. Nnaemeka Omewa (Lawyer)
Status of Case
On Trial
Stage of Trial
Prosecution Stage
Length of Trial
2,256 day(s)
Case Update
The court admitted each of the defendants to bail in the sum of N200 million with one surety in like sum who must have a landed property in Ilorin and must submit the Certificate of Occupancy to the Registrar of court which should be verified by the EFCC. The trial Judge also ordered the defendants to deposit their travel documents including passports, forbidding the defendants from travelling out of the country without the permission of the court.
ACJA/ACJL Compliance
Complied