A Federal High Court in Abuja has dismissed an attempt by a contractor, Mr. Tarry Rufus, to block the Independent Corrupt Practices and Other Related Offences Commission (ICPC) from prosecuting him and his company in a high-profile $65 million money laundering case.
Mr. Rufus, who serves as the Chief Executive of Good Earth Power Nigeria Limited, is facing serious charges alongside Mr. Gimba Kumo Ya’u, the former Managing Director of the Federal Mortgage Bank of Nigeria (FMBN), and Mr. Bola Ogunsola, a former Executive Director of the bank. They are accused of misappropriating $65 million meant for the development of 962 residential units in Kubwa, a district in Abuja.
Court Upholds ICPC’s Legal Powers
Justice Yilwa H. Joseph, who presided over the case at the Federal High Court, stated that there was sufficient evidence to suggest a prima facie case against the defendants. She emphasized that the ICPC had followed due process in its investigation, and the court could not interfere with the Commission’s statutory duties.
“The evidence before the court shows that a case of alleged misappropriation exists. The ICPC is legally empowered to carry out its duties without hindrance,” Justice Joseph declared.
The ruling effectively allows the ICPC to continue its prosecution of the case, including investigating Mr. Rufus and his company for alleged involvement in the fraud.
Contractor’s Bid to Halt Prosecution Fails
In December 2023, Mr. Rufus filed a lawsuit to prevent the ICPC and the Economic and Financial Crimes Commission (EFCC) from involving him in the ongoing investigation. He argued that he had committed no crime while executing the contract for the housing project and sought to block any further legal action.
Mr. Rufus also asked the court to order the ICPC and EFCC to release all documents related to land titles that were given to him during his temporary bail. He claimed that his detention by the ICPC was unlawful, and he demanded N500 million in compensation for what he called a “frivolous criminal persecution.”
However, the court rejected these claims, ruling that the detention did not violate his rights. Justice Joseph also noted that Mr. Rufus’s failure to meet the conditions of his bail was not the responsibility of the ICPC or the EFCC.
“The applicant’s inability to fulfil the bail conditions cannot be seen as a breach of his fundamental rights,” the judge stated.
Money Laundering Allegations and Suspicious Cash Transfers
The allegations against Mr. Rufus and Good Earth Power Nigeria Limited are serious. The ICPC claims that the company was involved in the illegal transfer of $3,550,000 in cash, violating the Money Laundering (Prevention and Prohibition) Act, 2022.
The investigation reveals that Mr. Rufus and his company may have directly converted nearly one billion naira (N991,399,255) into dollars and handed the sum over to an individual, Jason Rosamond, in cash. This alleged transaction, according to the ICPC, was carried out in clear violation of anti-money laundering laws.
ICPC counsel, O.B. Odogun, argued that the Commission’s power to investigate allegations of financial misappropriation was firmly backed by the law. He further noted that Mr. Rufus had voluntarily answered the Commission’s questions regarding suspicious cash flows from the account of his company, Good Earth Power Nigeria Limited.
Defendants Continue to Deny the Charges
Despite the mounting evidence, Mr. Rufus continues to deny any wrongdoing. In his application to the court, he insisted that he had not committed any infraction while executing the contract for the housing project. He also called the investigation by the ICPC and EFCC “unwarranted,” arguing that both agencies were wrong to involve him in the case.
The case has drawn significant attention, not only because of the large sums of money involved but also due to the high-profile nature of the accused individuals, including former officials of the Federal Mortgage Bank of Nigeria.
