By HEADLINENEWS.NEWS correspondent
The Economic and Financial Crimes Commission (EFCC) has re-arraigned Bature Umar Masari, the former Director General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), on 22 new charges of alleged money laundering and receipt of illegal gratifications totaling N119 million.
The arraignment took place before Justice O.A. Egwuatu at the Federal High Court in Maitama, Abuja. According to an EFCC statement signed by its Head of Media and Publicity, Dele Oyewale, Masari is specifically accused of laundering N119,507,080 and receiving substantial gratifications.
During the court session, prosecution counsel Ekele Iheanacho presented the amended charges, initially dated May 13, 2013, and filed on May 17, 2019. Masari pleaded “not guilty” to all counts.
Count 19 alleges that Masari used N10,000,000 received in his Diamond Bank account from Rahuse Ventures Limited between June 27, 2014, and July 17, 2014, fully aware that the funds were proceeds of unlawful activities.
Count 20 involves another N10,000,000 received between July 14, 2014, and July 21, 2014. Both counts cite violations of the Money Laundering Prohibition Act of 2011, as amended in 2012.
Following Masari’s plea, Iheanacho applied for a trial date, while defense counsel Okechukwu Edeze requested that Masari continue on bail granted by Justice Okong Abang in May 2019.