The Federal High Court in Abuja has sentenced Muhammed Ovosi to three months’ imprisonment for disguising the origin of N5 million to facilitate the export of one million barrels of petroleum products without a lawful licence.
Justice Emeka Nwite, who handed down the judgment after Mr Ovosi’s plea bargain agreement with the Economic and Financial Crimes Commission, also ordered him to pay N500,000 in line with the agreement terms.
The order followed an application by the EFCC’s lawyer, Martha Babatunde, asking the court to convict and sentence the defendant in view of his guilty plea and in line with the plea bargain agreement.
She said the plea bargain agreement was made pursuant to Section 270 of the Administration of Criminal Justice Act (ACJA), 2015.
Mr Ovosi, the fifth defendant, pleaded guilty to count five, which was preferred against him only, from the seven-count charge filed by the commission against the six defendants in the case. He was alleged to have fraudulently obtained N5 million paid by Mr Xu Ningqun to facilitate the export of one million barrels of petroleum products without a licence.
The money was said to form part of the proceeds of unlawful activities and thereby committed an offence contrary to Section 18(2)(a) of the Money Laundering Prohibition and Prevention Act.
From the total sum of N1,770,000, it was allegedly traced to Mr Ovosi, and he agreed to restitute the amount to the Federal Government’s coffers. He applied for a plea bargain through his lawyer, Chidera Ngbe.
The judge, however, ordered the other defendants, who pleaded not guilty, to be remanded in Kuje Correctional Centre pending the hearing of their bail application.
The judge adjourned the matter until September 15 for the hearing of the bail application of the defendants.
The EFCC, in the charge marked FHC/ABJ/CR/365/2025, named Fawei Noel Young, David Macaulay Ugbe, Umar Konto Muhammed Kaigama, Muhammed Ovosi, and Fogmos Professions Ltd as the first to sixth defendants, respectively.
(NAN)
