2 illegal gold dealers forfeit N39m, property

Peter Fowoyo

A Federal High Court, Ikoyi, Lagos has convicted two illegal gold dealers, Managing Director, Bukar Mandara Zarami Limited, Bukar Mandara Zarami and Kar Nap Fenan Wuyep.

Justice Muslim Hassan convicted the duo alongside a company, Bukar Mandara Zarami Limited, after their re- arraignment yesterday by the Economic and Financial Crimes Commission (EFCC) on an amended two -count charge bordering on possession of 35.58 kilogrammes of gold bars without appropriate permit.

The defendants pleaded guilty to the charge preferred against them.

In view of their plea, the prosecution Counsel, Rotimi Oyedepo informed the court that the first defendant, Zarami was arrested at the Murtala Mohammed International Airport, Ikeja, Lagos on November 11, 2018 with 35.58 kilogrammes of gold bars wrapped in six bags.

The prosecution counsel further told the court that investigations revealed that the first and second defendants did not have the appropriate permit to possess or deal in gold.

Oyedepo also informed the court that though the first defendant in his statement to the EFCC stated that he gave an official of the ministry, Steven Bakkuk about N3, 000,000 as royalty, investigations showed that the actual amount he was supposed to pay as royalty was N6, 772, 64. 16

“This shows clearly that there was no appropriate permit for that quantity of gold bars. Investigation further revealed that instead of the official from the ministry who received the money from the first defendant to put the funds in the treasury, he transferred N700, 000 to the third defendant, who is a director in the Ministry of Mines and Steel.

“This led to further investigation into the account of Bakkuk, whose account was used for transfers of unlawful enrichment. It was discovered that about N28 million in tranches was sent to the third defendant.

“On May 22, 2018, the sum of $19, 440 cash was given to the third defendant, which is in excess of the amount authorized by law to be received in cash and it constitutes an offence against the Money Laundering Act 2011,” the prosecution added.

Oyedepo added that the defendants have entered a plea bargain with the prosecution, saying “the first defendant has issued a cheque of N3 million in favour of the federal government as one of the terms agreed upon in the plea bargain.

“The first defendant as part of the plea bargain, also agreed to forfeit the undeclared 5.5 kilogrammes of gold bars to the federal government. The third defendant in the plea bargain agreed to pay a fine of N10 million and forfeit the recovered Access Bank drafts to the tune of N36 million.”

Following their guilty plea, the prosecution counsel urged the court to convict the defendants on the amended charge and prayed the court to sentence them to the terms agreed in the plea bargain.

Justice Hassan, while considering the terms of the plea bargain, convicted the defendants.