The anti-graft agency is accusing Buba and Mbagwu of conspiracy and facilitating cash payments totalling $12 million to various individuals, in violation of sections of the Money Laundering (Prevention and Prohibition) Act, 2022.
The arraignment of SunTrust Bank MD Halima Buba and ED Innocent Mbagwu for alleged $12 million money laundering was postponed at the Federal High Court, Abuja, after the defendants failed to appear.
EFCC counsel Ekele Iheanacho (SAN) disclosed that while the accused were aware of proceedings through their lawyers, formal service of charges had not been effected. “We wish to comply with Section 382(5) of the ACJA for substituted service,” Iheanacho stated, citing the need for proper legal procedures .
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