The Economic and Financial Crimes Commission (EFCC) has arraigned Aluminium Smelter Company of Nigeria (ALSCON) Plc over alleged failure to report financial transactions totalling N582.43m to the relevant anti-money laundering authorities.
The company was brought before Justice O.A. Egwuatu of the Federal High Court in Abuja on Monday, October 12, alongside its director, Zavyalov Dmitry, who was said to be at large. The case involves six amended counts relating to transactions carried out between March and July 2024.
According to the charge, ALSCON and Dmitry allegedly failed to submit written reports to the Special Control Unit Against Money Laundering (SCUML) on specified transfers from the company’s account, contrary to Section 11(1)(b) of the Money Laundering (Prevention and Prohibition) Act, 2022.
The transactions listed by the prosecution include payments of N147.52m in March, N156.03m in April, N121.43m in May and N127.34m in July 2024 to UDATSON Nigeria.
The charge also identifies a payment of N15.12m to Urico Global Services in April 2024 and another transfer of N15m to Christopher Azogu in June of the same year.
In one of the counts, the EFCC alleged that ALSCON and Dmitry failed to report a transfer of N147.52m made to UDATSON Nigeria from an account operated by the company in March 2024. Another count concerns a similar alleged reporting failure involving a N156.03m transfer to the same beneficiary the following month.
A further count relates to the alleged failure to report the N121.43m payment made to UDATSON Nigeria in May 2024.
The prosecution said the alleged offences were punishable under Sections 11(3), 19(2)(b) and 22 of the Money Laundering (Prevention and Prohibition) Act.
EFCC lead counsel, Ekele Iheanacho, SAN, represented the commission during the proceedings.
When the charges were read in court, ALSCON’s Acting Managing Director, Ime Monday Inyang, entered a not-guilty plea on behalf of the company on all six counts.
The company’s lawyer had urged the court to quash the charges, maintaining that ALSCON was not guilty of the allegations.
Following the plea, Justice Egwuatu adjourned the case until January 27, 2027, for the commencement of trial.
