Federal High Court Dismisses Contractor’s Application in $65 Million Money Laundering Case.

In a significant ruling, the Federal High Court sitting in Abuja has dismissed an application filed by Mr. Tarry Rufus, the Chief Executive of Good Earth Power Nigeria Limited, aimed at halting the prosecution by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) in connection with a $65 million money laundering case.

Justice Yilwa H. Joseph presided over the case, during which it was established that a prima facie case of alleged misappropriation had been established. The court emphasized that it could not obstruct the ICPC from performing its statutory duties, particularly in light of the evidence presented. The court found no merit in Rufus’ claim of unlawful detention, noting the absence of supporting evidence and stating that his failure to satisfy bail conditions did not imply a breach of his fundamental rights.

Mr. Rufus, along with former executives of the Federal Mortgage Bank of Nigeria (FMBN)—Mr. Gimba Kumo Ya’u and Mr. Bola Ogunsola—is accused of misappropriating funds intended for the construction of 962 residential housing units in Kubwa District, Abuja. The allegations specify the unlawful conversion of funds amounting to approximately $3.55 million, which contravenes the Money Laundering Act.

Despite these serious allegations, Rufus sought to have the court prevent the ICPC and the Economic and Financial Crimes Commission (EFCC) from further involving him in the case. He argued that he had not committed any infractions in the execution of the contract and claimed unlawful detention by the ICPC. Furthermore, Rufus requested compensation of N500 million for what he described as “frivolous criminal persecution.”

Representatives from the ICPC countered that their investigative powers allow for meticulous examination of allegations of misappropriation and maintained that Rufus willingly engaged with the Commission during its inquiries. The court’s dismissal of Rufus’ application reinforces the ICPC’s mandate to address allegations of corruption and financial misconduct with due diligence.

This ruling marks a critical juncture in the ongoing legal proceedings and highlights the judiciary’s role in upholding regulatory frameworks designed to combat corruption in Nigeria.