EFCC
EFCC Arraigns ALSCON, Director for Alleged N582.43m Money Laundering
The Economic and Financial Crimes Commission (EFCC) on Monday, October 12, 2026, arraigned Aluminium Smelter Company of Nigeria (ALSCON) Plc and its director, Zavyalov Dmitry, before Justice O. A. Egwuatu of the Federal High Court, Abuja, over alleged money laundering offences involving N582,430,250.
The company and its director were arraigned on a six-count amended charge marked FHC/ABJ/CR/644/2025. Dmitry is said to be at large.
According to the charge, the company, a Designated Non-Financial Business and Profession (DNFBP), and its director allegedly failed to report in writing to the Special Control Unit Against Money Laundering (SCUML) certain single transfers made from the company’s account between March and July 2024, as required under Section 11(1)(b) of the Money Laundering (Prevention and Prohibition) Act, 2022.
The transfers included N147,515,050 in March 2024, N156,026,860 in April 2024, N121,425,200 in May 2024 and N127,338,190 in July 2024, all paid to UDATSON NIGERIA. Other transfers included N15,124,950 paid to Urico Global Services in April 2024 and N15 million paid to Christopher Azogu in June 2024.
Count one of the charge reads: “That you, Aluminium Smelter Company of Nigeria Limited, Plc, a Designated Non-Financial Business and Profession (DNFBP), and Zavyalov Dmitry (at large), being director of the said DNFBP, sometime in March 2024 in Abuja, within the jurisdiction of this Honourable Court, failed to report in writing to the Special Control Unit Against Money Laundering (SCUML) a single transfer of the sum of N147,515,050 (One Hundred and Forty-Seven Million, Five Hundred and Fifteen Thousand, Fifty Naira) paid into UDATSON NIGERIA from account No. 1013726291 operated by Aluminium Smelter Company of Nigeria Plc, as specified under Section 11(1)(b) of the Money Laundering (Prevention and Prohibition) Act, 2022, and you thereby committed an offence contrary to and punishable under Sections 11(3), 19(2)(b) and 22 of the same Act.”
Count two reads: “That you, Aluminium Smelter Company of Nigeria Plc, a Designated Non-Financial Business and Profession (DNFBP), and Zavyalov Dmitry (at large), being director of the said DNFBP, sometime in April 2024 in Abuja, within the jurisdiction of this Honourable Court, failed to report in writing to the Special Control Unit Against Money Laundering (SCUML) a single transfer of the sum of N156,026,860 (One Hundred and Fifty-Six Million, Twenty-Six Thousand, Eight Hundred and Sixty Naira) paid into UDATSON NIGERIA from account No. 1013726291 operated by Aluminium Smelter Company of Nigeria Plc, as specified under Section 11(1)(b) of the Money Laundering (Prevention and Prohibition) Act, 2022, and you thereby committed an offence contrary to and punishable under Sections 11(3), 19(2)(b) and 22 of the same Act.”
Count four of the charge sheet reads: “That you, Aluminium Smelter Company of Nigeria Plc, a Designated Non-Financial Business and Profession, and Zavyalov Dmitry (at large), being director of the said DNFBP, sometime in May 2024 in Abuja, within the jurisdiction of this Honourable Court, failed to report in writing to the Special Control Unit Against Money Laundering (SCUML) a single transfer of the sum of N121,425,200 (One Hundred and Twenty-One Million, Four Hundred and Twenty-Five Thousand, Two Hundred Naira) paid into UDATSON NIGERIA from account No. 1013726291 operated by Aluminium Smelter Company of Nigeria Plc, as specified under Section 11(1)(b) of the Money Laundering (Prevention and Prohibition) Act, 2022, and you thereby committed an offence contrary to and punishable under Sections 11(3), 19(2)(b) and 22 of the same Act.”
Lead counsel to the EFCC, Ekele Iheanacho, SAN, told the court that the offences were punishable under Sections 11(3), 19(2)(b) and 22 of the Money Laundering (Prevention and Prohibition) Act.
When the charges were read, the company’s Acting Managing Director, Ime Monday Inyang, pleaded not guilty to all six counts on the company’s behalf.
Counsel to the company had urged the court to quash the charges, arguing that the company was innocent of the allegations.
Following the plea, Justice Egwuatu adjourned the case until January 27, 2027, for the commencement of trial.
EFCC
FBI Commends Olukoyede, EFCC for Support in Tackling Sextortion, Cybercrime
The Federal Bureau of Investigation (FBI) has commended the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, and the Commission for their efforts and vital role in Operation Artemis, a joint international effort to disrupt financially motivated sextortion networks targeting minors.
The commendation was conveyed in a letter signed by FBI Director Kash Patel, who praised the Commission for its collaboration with the Bureau in the arrest and extradition of suspects facing federal charges in the United States.
In the letter addressed to Olukoyede, Patel acknowledged the Commission’s contribution to the operation, stating that “the Economic and Financial Crimes Commission, EFCC, has played a vital role in Operation Artemis, a joint effort focused on disrupting financially motivated sextortion rings targeting juveniles.”
He said that, under Olukoyede’s leadership, the EFCC designated personnel to support the investigations and facilitate the transfer of suspects from Nigeria to face prosecution in the United States.
Specifically, the FBI Director commended the EFCC for apprehending Adebola Festus Adekunle and Mudashiru Afeez Olawale, who were indicted in the United States in 2023 over allegations relating to the sexual exploitation and extortion of minors.
The two suspects were extradited to the United States in August 2026, with the EFCC facilitating the process following investigations and extradition proceedings. They are facing federal charges relating to sexual exploitation in cases involving the deaths of minors.
Patel noted that the successful outcome of the cases would not have been possible without the EFCC’s assistance and commitment to international law enforcement cooperation.
“The successful outcome of these cases would not have been possible without your assistance and dedication to international law enforcement collaboration,” he said.
The FBI Director further expressed appreciation to Olukoyede and the Commission for their commitment to justice and continued cooperation, while expressing optimism about strengthening the partnership between both agencies.
“Please accept my sincere appreciation for your commitment to justice and steadfast cooperation. I look forward to the continued partnership with the EFCC,” he stated in the letter.
The extradition of Adekunle and Olawale followed FBI investigations into separate sextortion schemes targeting male minors in the United States. The investigations linked the alleged activities to two teenage victims who died by suicide after being subjected to online sexual exploitation and extortion.
EFCC
EFCC Photo News
The Japanese Ambassador-Designate to Nigeria, His Excellency, Hideo Suzuki Paid a Courtesy Visit to the Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede in his office today, October 28, 2026. He was accompanied on the visit by First Secretary, Security, Yuji Murakami and Senior Information Analyst, Dogara Ankut.


EFCC
₦2.7bn Fraud: Court Jails Former Banker for 39 Years
Justice O. O. Abike-Fadipe of the Special Offences Court sitting in Ikeja, Lagos, on Tuesday, October 27, 2026, sentenced a former banker, Christopher Jackson Edeh, to a total of 39 years’ imprisonment for his involvement in a ₦2.7 billion fraud prosecuted by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC).
Edeh, who was arraigned on February 28, 2024, faced nine counts bordering on fraudulent false accounting and unauthorised access to a computer system.
The charges alleged that he altered the bank account details of several customers and government-related entities, including the Kano State Government Power Intervention Fund, NNPC Trading Limited, Stallion Vision Ltd, the Lagos State Government Blue Line, the State Contributory Pension Account and Chukwuemeka Odumegwu Ojukwu University, with intent to defraud.
During the trial, prosecuting counsel, Z. B. Atiku, called three witnesses and tendered several documents in evidence to establish the case against the defendant. The defence, in turn, called one witness.
In her judgment, Justice Abike-Fadipe held that the prosecution had proved its case beyond reasonable doubt and consequently convicted Edeh on all nine counts.
The court sentenced him to five years’ imprisonment without an option of fine on each of counts one to seven, bordering on fraudulent false accounting, and two years’ imprisonment without an option of fine on each of counts eight and nine, relating to unauthorised access to a computer system with intent to facilitate the commission of crimes.
The court ordered that all the sentences run concurrently.
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