ICPC arraigns el-Rufai ally Amadu Sule over alleged N311bn money laundering
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has arraigned Amadu Sule, managing director of TMDK Terminal Limited, over alleged N311 billion money laundering.
Sule, who is described as an associate of Nasir el-Rufai, former governor of Kaduna State, was arraigned on Monday before the Federal High Court in Kaduna on a five-count charge bordering on money laundering and unlawful retention of proceeds of fraud.
According to the charge sheet, the ICPC alleged that Sule controlled over N311 billion traced to accounts maintained with Fidelity Bank Plc, Stanbic IBTC Bank Plc and Providus Bank Limited.
The anti-graft agency said the funds were received from INT Towers Limited, IHS Nigeria Limited, IHS Towers NG Limited and Boaz Commodities Limited, purportedly as payments for the supply of petroleum products.
The commission further alleged that Sule reasonably ought to have known that the funds constituted proceeds of unlawful activities.
ICPC also accused the defendant, acting in connivance with TMDK Terminal Limited, of unlawfully retaining tax components arising from the disputed transactions, despite allegedly being aware that the dealings were fraudulent.
According to the commission, the alleged retention of illicit proceeds attracts enhanced penalties under sections 18(3) and 18(4) of the Money Laundering (Prevention and Prohibition) Act, 2022.
The court adjourned the case to January 15 for hearing of the defendant’s bail application.
Sule is not the first ally of the former Kaduna governor to be arraigned by the ICPC. In January 2025, the commission also arraigned Jimi Lawal, a former aide to el-Rufai, over alleged fraud and money laundering.
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