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Former SMEDAN boss, Bature Masari arraigned over N104.7m money laundering scam

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Former SMEDAN boss, Bature Masari arraigned over N104.7m money laundering scam

The Economic and Financial Crimes Commission (EFCC) on Tuesday, April 9, 2019, arranged former Director General of SMEDAN, Bature Umar Masari before a Federal High Court in Abuja, following his alleged involvement in N107.7million money laundering and proceeds of gratification.

The EFCC is prosecuting Masari on a 17- count charge of alleged money laundering before Justice Okon Abang. When the charge was read to Masari on Tuesday, he pleaded not guilty to the alleged financial crime while his lawyer, Mr A. Magaji (SAN), urged the court to admit his client to bail.

Magaji, who came by way of oral application, argued that his client is entitled to bail and urged the court to grant him temporary freedom. Prosecution counsel, Ekele Ihenacho, opposed the oral application by the senior advocate.

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According to the prosecution counsel, there is the need for the senior advocate to place material facts on behalf of his client before the court, saying that the development will enable the judge to have an informed opinion on the matter.

Having listened to the arguments of Magaji and Ihenacho, Justice Abang adjourned the matter till Friday, April 12, 2019 over his ruling on whether or not the oral application for bail would suffice.

The judge later directed that the ex-SMEDAN DG should be remanded in Kuje Prison.

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