Court Jails Man 8 Years, Orders Forfeiture of Luxury Assets Over N90.9m Money Laundering

Court Jails Man 8 Years, Orders Forfeiture of Luxury Assets Over N90.9m Money Laundering

Justice Yellim Bogoro of the Federal High Court sitting in Ikoyi, Lagos, has convicted and sentenced Fidelix Samuel Ebuka to eight years and three months in prison for money laundering.

Ebuka was prosecuted by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) on a 14-count charge bordering on the retention of proceeds of unlawful activities valued at N90,989,517.

He was initially arraigned on June 10, 2026, and pleaded not guilty to the charges.

However, when the matter resumed on July 8, 2026, the defendant changed his plea to guilty.

One of the counts alleged that Ebuka, on or about April 15, 2026, in Lagos, retained N90,989,517 in his Union Bank account, knowing or reasonably expected to know that the money formed part of the proceeds of an unlawful act.

Following his guilty plea, EFCC counsel, Bilkisu Buhari, urged the court to convict and sentence him in accordance with the law.

In her judgment on Friday, July 17, 2026, Justice Bogoro convicted Ebuka and sentenced him to eight years and three months’ imprisonment, with an option of a N8.5 million fine.

The court also ordered him to undertake two weeks of community service in respect of the 14th count.

Justice Bogoro further ordered the final forfeiture of several assets recovered from the convict to the Federal Government.

The forfeited items include an iPhone 15 Pro Max, iPhone XR, iPhone 12 Pro Max, iPhone 13 Pro Max, a Mercedes-Benz G65, a 2014 Mercedes-Benz ML, a gold chain and two HP laptops.

Court Jails Man 8 Years, Orders Forfeiture of Luxury Assets Over N90.9m Money Laundering