The Economic and Financial Crimes Commission (EFCC) has arraigned Adonu Kingsley Ifeanyi and his company, S Mobile Netzone Limited, for alleged N12.5 billion fraud.
In a press release on Monday, EFCC spokesperson Dele Oyewale stated the defendants appeared earlier than trial decide Yellim Bogoro of the Federal High Court in Lagos.
The assertion famous that he faces 5 counts of acquiring cash by false pretence and stealing.
The fee put the quantity concerned at N12,556,837,842.
S Mobile Netzone Limited was amongst 58 firms the EFCC named in March 2025 in a public alert on alleged unlawful funding schemes.
The fee warned Nigerians towards coping with the businesses, saying they weren’t registered with the Central Bank of Nigeria or the Securities and Exchange Commission.
According to at least one depend, Mr Ifeanyi acquired N1.24 billion by a checking account belonging to the company between 4 June 2021 and 31 October 2022.
The EFCC alleged that he knew the cash was a part of proceeds of illegal exercise involving acquiring cash by false pretence.
In one other depend, he was accused of receiving N6.79 billion by the identical account between 15 January 2020 and 14 April 2022, understanding that the cash was proceeds of stealing.
The defendants pleaded not responsible to all 5 counts.
Following their pleas, prosecution lawyer, Suleiman I. Suleiman, requested the court docket to repair a date for trial.
Mr Bogoro granted the request and admitted the defendants to bail on the identical phrases and situations earlier granted by one other decide C. J. Aneke on 8 July 2025.
The case was adjourned for the graduation of trial.
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