The federal government of Nigeria began the trial of two top executives from Telecom Satellites Limited at the Federal High Court in Abuja on Thursday. They are facing charges of tax evasion, money laundering, and advanced fee fraud.

The accused are the Managing Director and CEO of TSTV, Dr. Bright Ikechukwu Echefu, and the Executive Director of the company, Dr. Felix Nnamdi Ignoanuga.

They were charged alongside TSTV and another company, Briechberg Investment Limited, by the Economic and Financial Crimes Commission. The charges include nine counts of criminal offenses.

One of the charges is that on May 18, 2020, the two men were involved in money laundering related to tax evasion, unremitted VAT, Company Income Tax, and Pay As You Earn (PAYE) deducted from the salaries of 165 workers. This is punishable under section 15 of the Money Laundering Prohibition Act 2011, as amended in 2012.

They allegedly diverted N33.9 million, N13.5 million, and N19.4 million of tax money meant for the federal government for personal use, breaching section 15 of the Money Laundering Prohibition Act.

Echefu, the first accused, is also accused of defrauding Senior Advocate of Nigeria Turaki Kabir Tanimu of N960 million under false pretenses. Echefu, acting as the Managing Director of Briechberg Investment Limited, allegedly obtained N150 million from Tanimu as a loan to acquire modern equipment for his telecom company. The money was paid into Briechberg Investment Limited’s Zenith Bank account.

On the same day, Echefu allegedly received another N380 million and N400 million from Tanimu for the same purpose, all paid into the same account. Additionally, two payments of N15 million each were made into the same account by Tanimu.

Turaki Kabir Tanimu SAN, a former Minister of the Federal Republic of Nigeria, was present in court during the arraignment of the defendants.

When the charges were read, both accused persons denied the allegations. Senior Advocate of Nigeria Sylvanus Tahir, leading the prosecution, strongly objected to the bail application made by Eyitayo Fatigun SAN on behalf of the defendants. Tahir argued that the accused are flight risks, having allegedly evaded arrest, but Fatigun countered that the EFCC had previously granted them administrative bail.

Justice Inyang Edem Ekwo ruled to adopt the EFCC’s bail conditions, allowing the accused to go home but ordering them not to travel outside the country without court permission.

The judge also directed that their international passports be seized and notified the immigration authorities. He warned that any breach of the bail conditions or absence in court would lead to revocation of their bail and detention during the trial.

Justice Ekwo instructed the EFCC to provide the court with the record of the administrative bail granted to the defendants within seven days. The trial is set to commence on July 15, 16, and 17.