Justice Ojukwu in a judgment delivered held that the action of Okupe, who is the first defendant in the suit filed by the Economic and Financial Crimes Commission (EFCC) violated the Money Laundering Act.
While stating that the Act provides that no individual or organization shall receive any sum above N5 million and N10 million respectively without passing through a financial institution, the judge held that “there is no evidence that the money passed through a financial institution”.
According to Justice Ojukwu, the NSA was not a financial institution, adding that even if the President was said to have authorized the funds, he did not say that the money must be paid in cash in violation of the money laundering.
Consequently the court held, “I find the first defendant, Dr Doyin Okupe guilty in count 34, 35, 36…… 59.”
