EFCC Arraigns Nigerians, Chinese Nationals Over Alleged ₦3.4 Billion Fraud.
The Economic and Financial Crimes Commission (EFCC) has arraigned three individuals and a company before the Federal High Court in Lagos over an alleged ₦3.4 billion fraud and conspiracy to destabilise Nigeria’s economic structure.
The defendants, identified as Huang Haoyu, Friday Audu, An Hongxu, and their company, Gentting International Ltd, appeared before Justice Daniel Osiagor on a 12-count charge of cybercrime. They pleaded not guilty to all charges.
According to the prosecution, led by Mrs Bilikisu Buhari, the alleged offences were committed in 2024 in Lagos. The defendants were accused of conspiring with one Dualiang Pan, who is currently at large, to illegally access computer systems with the intent to disrupt Nigeria’s economic configuration.
Further allegations state that the defendants procured Nigerian youths to falsely represent themselves as foreign nationals. They were also said to have enlisted individuals, including Chukwuemeka Okeke, to retain $1.2 million in his cryptocurrency wallet, money that was allegedly linked to fraudulent activities.
Additionally, the EFCC claims that the defendants arranged for Alhassan Garba and Ifesinaci Jacobs to hold $1.3 million in their crypto wallets, also believed to be proceeds of crime. The agency further alleged that the sum of ₦3.4 billion, suspected to be linked to fraudulent activities, was deposited in the Union Bank account of Gentting International Ltd.
The prosecution also revealed that the accused transferred substantial sums, including ₦106 million and ₦913 million, to Dualiang Pan’s UBA account, allegedly from Gentting International Ltd’s funds. Furthermore, the defendants were accused of conducting illegal foreign exchange transactions with Alhassan Garba, amounting to ₦1.1 billion and ₦962 million, without approval from the Central Bank of Nigeria (CBN).
The EFCC stated that these actions violate Section 29(2) of the Foreign Exchange Monitoring and Miscellaneous Provisions Act, 2004. The charges also fall under Sections 18 and 27 of the Cybercrime (Prohibition) Act 2015, as well as Sections 18(2)(d) and 21(c) of the Money Laundering Act, 2021.
Following the arraignment, the court adjourned the case to 20 March for the hearing of the defendants’ bail application. Justice Osiagor ordered that they remain in EFCC custody pending the court’s decision on their bail status.
