https://nelsdaily.com/news/court-dismisses-contractors-bid-to-halt-65-million-money-laundering-prosecution-by-icpc/

A Federal High Court in Abuja has rejected an application by Mr. Tarry Rufus, the Chief Executive Officer of Good Earth Power Nigeria Limited, seeking to prevent the Independent Corrupt Practices and Other Related Offences Commission (ICPC) from prosecuting him and his company in a $65 million money laundering case.

The ICPC is prosecuting Rufus alongside Mr. Gimba Kumo Ya’u, a former Managing Director/CEO of the Federal Mortgage Bank of Nigeria (FMBN), and Mr. Bola Ogunsola, a former Executive Director of the bank. The trio is accused of diverting $65 million intended for the construction of 962 residential housing units in the Kubwa District of Abuja.

Delivering judgment, Justice Yilwa H. Joseph of the Federal High Court, Maitama, held that a prima facie case of alleged misappropriation had been established against the defendants. She ruled that the evidence presented demonstrated a legitimate basis for the ICPC’s prosecution and emphasized that the court could not obstruct the Commission from fulfilling its statutory obligations.

The court dismissed Rufus’s claim that his detention during the investigation was illegal, stating that he failed to provide sufficient evidence to substantiate the allegation. Justice Joseph further clarified that Rufus’s inability to meet the bail conditions did not constitute a breach of his fundamental rights by either the ICPC or the Economic and Financial Crimes Commission (EFCC).

The ICPC accused Rufus and Good Earth Power Nigeria Limited of violating the Money Laundering Act by disbursing and receiving $3,550,000 in cash as part of the contract sum. The Commission alleged that the company converted ₦991,399,255 into $3,550,000, which was then handed to one Mr. Jason Rosamond in cash, contrary to the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.

Contractor’s Application for Redress

In December 2023, Rufus filed an application to stop the ICPC and EFCC from involving him further in the case. He maintained that he had committed no wrongdoing in the execution of the disputed contract and sought a court order compelling the ICPC and EFCC to return documents related to land titles collected during his administrative bail. Additionally, he requested ₦500 million in damages for what he described as “frivolous criminal persecution.”

ICPC’s Defense

Representing the ICPC, counsel O.B. Odogun argued that the Commission acted within its statutory authority to investigate allegations of financial misconduct. Odogun noted that Rufus had voluntarily responded to the Commission’s invitation and stressed that the defendant’s failure to meet bail conditions was his own responsibility.

The court’s ruling reaffirms the ICPC’s mandate to investigate and prosecute cases of corruption and money laundering, reinforcing its commitment to accountability and justice.