The Economic and Financial Crimes Commission, EFCC, on Thursday, arraigned the owners of Telcom Satellites TV (TSTV), before the Federal High Court in Abuja, on a nine-count charge bordering on alleged tax evasion and money laundering.
The Managing Director and Chief Executive Officer of the indigenous direct-to-home TV service provider, Dr. Bright Ikechukwu Echefu, as well as the Executive Director, Dr. Felix Nnamdi Ignoanuga were arraigned before Justice Inyang Ekwo.
Telecom Satellites Limited and another company, Briechberg Investment Limited, were also cited as 3rd and 4th defendants, respectively, in the charge marked: FHC/ABJ/CR/254/23.
The EFCC, among other things, alleged that the defendants had on May 18, 2020, engaged in tax evasion, alleging that they failed to remit VAT, company income tax and Pay as You Earn (PAYE) deducted from salaries of about 165 staff members of the company.
It maintained that the action of the defendants was punishable under section 15 of the Money Laundering Prohibition Act 2011, as amended in 2012.
The prosecution told the court that the defendants diverted to their personal use, various sums that included N33.9million, N13.5m and N19.4m tax money payable to the coffers of the Federal Government.
The EFCC alleged that the 1st defendant, Dr. Echefu, defrauded a Senior Advocate of Nigeria, SAN, Turaki Kabir Tanimu, of the sum of N960m under false pretences.
They also alleged that the defendant, while acting as the Managing Director of the 4th defendant, Briechberg Investment Limited, on May 18, 2020, with intent to defraud, obtained the sum of N150m from Turaki, SAN, who was the Managing Director of Kalsiyam Farm, as loan to acquire modern equipment for his telecom company.
EFCC added that the said loan was paid into Briechberg Investment Limited’s account number: 1015561485, domiciled at Zenith Bank.
They also alleged that on the same date, the defendant obtained another N380m that was paid into the same account for the same purpose, while he also secured N400m from Turaki, SAN.
According to the EFCC, Turaki, SAN, while acting as Managing Director of K. T Turake, made two payments of N15m each, into the Briechberg Investment Limited bank account belonging to the st defendant, for the same purpose.
As at the time the transactions took place, Turaki, SAN, who was present in court during the arraignment of the defendants, was a serving Minister of the Federal Republic of Nigeria.
Meanwhile, all the defendants pleaded not guilty to the charge when it was read to them.
Though EFCC’s counsel, Mr. Sylvanus Tahir, SAN, applied for the defendants to be remanded in custody, however, following an application by their lawyer, Mr. Eyitayo Fatigun, SAN, the court granted bail application.
Tahir, SAN, had insisted that the defendants posed a flight risk, alleging that they had in the past, evaded arrest.
However, the defence lawyer, Mr. Fatigun, SAN, drew attention of the court to the fact that his clients were on administrative bail that was granted to them by the EFCC.
He further stressed the fact that the charge against them are bailable offences.
In his brief ruling, Justice Ekwo said he was minded to release the defendants on bail, pending the hearing and determination of the case against them.
Consequently, the trial judge allowed the defendants to go home on the bail conditions that were earlier handed to them by the EFCC.
He, however, warned the defendant not to travel out of the country without the permission of the court, adding that the Nigerian Immigration Service, NIS, should be notified of the seizure of their international passports.
While directing the EFCC to within seven days, transmit the record of the administrative bail it granted to the defendants, Justice Ekwo said the court would not hesitate to order their arrest should they act in breach of any of the bail conditions.
The court subsequently adjourned the matter till July 15, 16 and 17 for trial.
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