Court grants N200m bail to female executive arraigned by EFCC for laundering $600,000

 

The Enugu Zonal Directorate of the Economic and Financial Crimes Commission has arraigned the Group Managing Director of Brass Engineering and Construction Nigeria Limited, Egwuche Gladys, over an alleged $600,000 fraud.

In a post shared via X.com on Friday, the EFCC said Gladys was arraigned before Justice F. O. Giwa-Ogunbanjo of the Federal High Court, Independence Layout, Enugu, alongside her company on a 12-count charge bordering on money laundering.

According to the charge sheet, the defendant and her company allegedly accepted cash payments of $50,000 in 12 tranches between March 13 and April 11, 2023, totalling $600,000, without passing the funds through a financial institution in violation of the Money Laundering (Prevention and Prohibition) Act, 2022.

Count one of the charges reads, “Brass Engineering and Construction Nigeria Limited and Mrs. Egwuche Chinyere Gladys… accepted cash payment of $50,000… being part payment for a 180220TPH Granite Stone Crushing Line you sold to Patan Nigeria Ltd and Reinforce Global Resources Ltd (JV) which exceeded the statutory required threshold of N10,000,000.00… without passing through a financial institution.”

The EFCC said the transaction was part payment for a granite stone crushing line sold by the defendant’s company to Patan Nigeria Limited and Reinforce Global Resources Limited in a joint venture arrangement.

“The defendant, whilst being the Group Managing Director of Brass Engineering and Construction Nigeria Limited, allegedly accepted cash payment of $50, 000 (Fifty Thousand United States Dollar)s, in 12 tranches between March 13, 2023 and April 11, 2023, totaling $600, 000 (Six Hundred Thousand United States Dollar). The said cash payment, allegedly, was part payment for a 180220TPH Granite Stone Crushing Line, the defendant and her company sold to Patan Nigeria Limited and Reinforce Global Resources Limited, which exceeded the statutory required threshold of N10, 000, 000. 00 (Ten Million Naira), as it did not pass through a financial institution.”

 

Gladys pleaded not guilty to the charges.

Following her plea, counsel to the EFCC, Assistant Commander Rotimi Enitan Ajobiewe, asked the court for a trial date and requested that the defendant be remanded in the custody of the Nigerian Correctional Service, Enugu.

“The defendant pleaded “not guilty” to the charges. In view of her plea, counsel to the EFCC, Assistant Commander of the EFCC, ACE II Rotimi Enitan Ajobiewe prayed the court for a trial date to enable the prosecution to prove its case and for the defendant to be remanded at the facility of the Nigerian Correctional Service, NCoS in Enugu.”

However, the defence counsel, Roy O. U. Nwaeze, SAN, drew the court’s attention to a pending bail application and urged the court to grant his client bail.

Justice Giwa-Ogunbanjo subsequently granted Gladys bail in the sum of N200 million, with two sureties in like sum, each required to own property within the court’s jurisdiction. The judge also ordered the defendant to deposit her international passport with the court registrar, while directing the EFCC to verify the sureties’ addresses within seven days.

The case was adjourned to November 11, 2026, for trial.