Court Dismisses Contractor’s Application To Halt $65 Million Money Laundering Case.
A Federal High Court in Abuja has dismissed an application filed by Mr. Tarry Rufus, Chief Executive Officer of Good Earth Power Nigeria Limited, seeking to prevent the Independent Corrupt Practices and Other Related Offences Commission (ICPC) from prosecuting him in a $65 million money laundering case.
Presiding over the case, Honourable Justice Yilwa H. Joseph ruled that evidence presented during investigations demonstrated a prima facie case against Mr. Rufus, along with Mr. Gimba Kumo Ya’u (former Managing Director of the Federal Mortgage Bank of Nigeria) and Mr. Bola Ogunsola (former Executive Director of FMBN). The court concluded that the ICPC has the legal authority to proceed with its investigation.
The case revolves around allegations of fund misappropriation intended for the development of 962 residential housing units in the Kubwa District of Abuja. According to the ICPC, Mr. Rufus and his associates allegedly diverted significant sums, including $3.55 million in cash, in contravention of the Money Laundering (Prevention and Prohibition) Act of 2022.
Further allegations involve the conversion of N991 million into US dollars, which was purportedly handed over to a man identified as Jason Rosamond.
Mr. Rufus had earlier petitioned the court to bar the ICPC and the Economic and Financial Crimes Commission (EFCC) from pursuing charges against him, alleging that his detention during the investigation violated his fundamental rights. He also sought N500 million in compensation, claiming “frivolous criminal persecution” by the ICPC, EFCC, and FMBN.
Justice Joseph, however, rejected these claims, stating that Mr. Rufus failed to provide evidence of illegal detention. The court noted, “The inability of the Applicant to fulfil the bail conditions therefore cannot be seen to have amounted to the breach of his fundamental rights by the ICPC and EFCC.”
The ICPC, represented by Counsel O.B. Odogun, argued that the Commission is acting within its statutory mandate, investigating petitions regarding alleged financial irregularities. Odogun explained that Mr. Rufus voluntarily appeared before the ICPC to address questions about suspicious financial transactions linked to his company, Good Earth Power Nigeria Limited.
The court’s decision affirms the ICPC’s commitment to pursuing the case and upholding its role in combating corruption and money laundering. Justice Joseph reiterated the importance of allowing law enforcement agencies to perform their duties without undue interference.
The ruling clears the way for the ICPC to continue its investigation and prosecution of the high-profile case, which highlights the challenges in addressing corruption within Nigeria’s housing and financial sectors.
