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₦200M BAIL GRANTED: EFCC Arraigns Construction Company GMD In Enugu Over Massive $600,000 Money Laundering Scandal
Loading …ENUGU, NIGERIA — The Enugu Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has successfully docked the Group Managing Director of Brass Engineering and Construction Nigeria Limited over her alleged involvement in a massive $600,000 (Six Hundred Thousand United States Dollars) money laundering and public fund embezzlement racket.
The suspect, identified as Mrs. Egwuche Chinyere Gladys, was brought before Justice F. O. Giwa-Ogunbanjo at the Federal High Court sitting in Independence Layout, Enugu State. She faces a twelve-count criminal charge alongside her company for allegedly bypassing the banking system to execute illegal, large-scale cash transactions.
Smuggling $600,000 In 12 Tranches
According to the charge sheet presented by the anti-graft agency, Gladys routinely abused her executive office by accepting direct cash payments in US Dollars, completely flouting Nigeria’s strict fiscal transparency and anti-money laundering frameworks.
The prosecution stated that between March 13, 2023, and April 11, 2023, the female executive accepted $50,000 cash payments in 12 separate tranches at Abakaliki. The total sum of $600,000 was allegedly received from a joint venture between Patan Nigeria Limited and Reinforce Global Resources Limited.
The massive cash stash served as part-payment for a heavy-duty industrial asset—a 180220TPH Granite Stone Crushing Line—sold by her firm. By handling such large amounts of foreign currency outside a financial institution, the transactions vastly exceeded the statutory legally required cash threshold of ₦10,000,000 (Ten Million Naira).
“…accepted cash payment of $50,000… which exceeded the statutory required threshold of ₦10,000,000 without passing through a financial institution… you thereby committed an offence contrary to Section 2 (1) of the Money Laundering (Prevention and Prohibition) Act, 2022,” the formal EFCC count read.
The Plenary Legal Showdown
Appearing in the dock, the construction boss pleaded “not guilty” to all twelve counts of financial misconduct.
| Legal Matrix | Technical Breakdown of the Enugu Federal High Court Proceedings |
|---|---|
| The Defendant | Mrs. Egwuche Chinyere Gladys (GMD, Brass Engineering & Construction Ltd). |
| The Accusation | Illegal acceptance of $600,000 in cash outside standard banking channels. |
| Bail Condition | Set at ₦200,000,000 with two sureties holding verified local properties. |
| Travel Restrictions | International Passport seized; must remain with the court’s Registrar. |
| Next Adjournment | Formal trial explicitly scheduled to commence on November 11, 2026. |
Following the “not guilty” plea, the prosecuting EFCC Counsel, Assistant Commander of the EFCC (ACE II) Rotimi Enitan Ajobiewe, requested the court to fix a definitive trial date and ordered the defendant to be remanded at the Enugu facility of the Nigerian Correctional Service (NCoS) pending the determination of the case.
Strict Bail Restrictions Imposed
However, the defense team, led by Roy O. U. Nwaeze, SAN, countered by moving a pending bail application, pleading with the court to grant his client administrative freedom before the trial.
Reviewing the applications, Justice Giwa-Ogunbanjo admitted the defendant to bail in the sum of ₦200,000,000 (Two Hundred Million Naira) with two sureties in like sum. Under the strict bail guidelines, each surety must own a verifiable landed property within the court’s territorial jurisdiction.
Furthermore, the GMD was ordered to surrender her international passport to the custody of the court Registrar, while the EFCC was given a strict 7-day window to cross-verify and authenticate the residential addresses of the sureties. Justice Giwa-Ogunbanjo subsequently adjourned the case to November 11, 2026, for the formal commencement of the trial.
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