ICPC charges El-Rufai’s associate over ₦311bn laundering case
Amadu Sule, Managing Director of TMDK Terminal Limited and associate of former Kaduna State Governor Nasir el-Rufai, has been arraigned by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) over an alleged ₦311 billion money laundering scheme. The charges involve alleged unlawful retention of proceeds from fraudulent transactions, with funds traced to several bank accounts. The case has attracted attention due to the business and political ties between TMDK Terminal Limited and the el-Rufai family. The matter was adjourned to January 15 for the hearing of the bail application.
What we know
- Amadu Sule was arraigned before the Federal High Court in Kaduna on a five-count charge related to money laundering and unlawful retention of fraud proceeds.
- The ICPC alleges that over ₦311 billion was traced to accounts controlled by Sule and received from multiple companies for petroleum product supplies.
- The commission claims that Sule and TMDK Terminal Limited unlawfully retained the tax components of the transactions, despite knowing the activities were fraudulent.
- The charges were signed by Osuobeni Akponimisingha, Head of ICPC’s High-Profile Prosecution Department.
- The case was adjourned to January 15 for the hearing of the bail application.
