The former acting governor of Adamawa state, Umaru Fintiri was accused of laundering an aggregate sum of about 1.9 billion between October 2, 2014 and July 2015.
A Federal High Court in Abuja has ordered the remand of a former Acting Governor of Adamawa state, Umaru Fintiri, in Kuje prison on Thursday, June 30, 2016, for a five-count charge bothering on money laundering.
The Economic and Financial Crimes Commission (EFCC) arraigned Fintiri and Mayim Constructions and Properties Limited.
Fintiri was accused of laundering an aggregate sum of about 1.9 billion between October 2, 2014 and July 2015.
Fintiri was said to have indirectly disguised the sum of N550m through”a term loan of 12 months” purportedly granted to him by Ecobank Plc for the "acquisition of a tea plantation farm from Nigeria Agricultural Bank in Taraba state."
He was said to have committed the offence in the two counts by transferring the various sums of money from account number 0313000301 with Ecobank Plc and operated by Timeplex Nigeria Limited into the account number 5742019591 domiciled with the same bank and operated by Mayim Construction and Properties Limited.
He however pleaded not guilty to all the charges. But the presiding judge, Justice Ahmed Mohammed ordered that the former acting governor be remanded in Kuje prison pending the ruling on the matter on Friday.
The EFCC had earlier seized a terrace house, is located on No. 7, Gana Street, Maitama, Abuja belonging to Fintiri.