N240m money laundering conviction: Okupe released after paying N13m fine

THE Director General of the Labour Party (LP) Presidential Campaign Council Doyin Okupe, who was convicted for money laundering on Monday, December 19, has been released after paying a fine of N13 million.

As a result, he will no longer serve the two-year jail sentence handed to him by the court.

Okupe was found guilty of receiving over N200 million cash from a former National Security Adviser (NSA), Sambo Dasuki.


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An Abuja Federal High Court presided by Justice Ijeoma Ojukwu convicted Okupe for receiving cash over the threshold permitted by the Money Laundering Act from former NSA.

He was charged with breaching sections 16(1) and (2) of the Money Laundering Act while serving as Senior Special Assistant on Media to ex-President Goodluck Jonathan.

The Economic and Financial Crimes Commission (EFCC) had arraigned Okupe in 2019 on a 59-count charge bordering on alleged money laundering and diversion of funds to the tune of N702 million.

He was arraigned alongside two companies – Value Trust Investment Ltd and Abrahams Telecoms Ltd.

Delivering judgment on Monday, Justice Ojukwu held that Okupe violated provisions of the Act, which stated that no individual or organization should receive any sum above N5 million and N10 million, respectively, without passing through a financial institution.

The court held that receiving such amounts in cash violated the Money Laundering Act, adding: “There is no evidence that the money passed through a financial institution.”

She noted that the Office of the NSA is not a financial institution and that even if the President had authorized the funds, he did not say the money must be paid in cash, in violation of the Money Laundering Act.






     

     

    “I find the first defendant, Dr Doyin Okupe, guilty in counts 34, 35, 36…59,” the court declared.

    However, the court gave an option of N13 million fine, which should be paid before 4.30 pm, on Monday, December 19.

    It was gathered that Okupe succeeded in paying his fine before the deadline and was allowed to go.

    Shortly after his release, Okupe tweeted, “God is not man. The enemies have tried in so many ways but kept on failing. Victory is of God.”

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