The Economic and Financial Crimes Commission (EFCC) has dragged two Chief Executives of the Telecom Satellites Limited (TSTV) before the Federal High Court sitting in Abuja over alleged tax evasion, money laundering and advanced fee fraud offences.

It was learnt that the suspects, Bright Ikechukwu Echefu, who is the Managing Director and Chief Executive Officer of TSTV; and Dr Felix Nnamdi Igboanuga, said to be Executive Director of the telecom satellites company were arraigned on Thursday morning.

They were arraigned alongside TSTV and another company, Briechberg Investment Limited on 9-count criminal charges.

Part of the charges are that the two men, on May 18, 2020 committed money laundering bordering on tax evasion, unremitted VAT, Company income tax and Pay As You Earn (PAYE) deducted from the salaries of 165 workers, punishable under Section 15 of the Money Laundering Prohibition Act 2011, as amended in 2012.

They were also alleged to have, on May 18, 2020 diverted to their personal use N33.9million, N13. 5million and N19.4million tax money payable to the federal government in breach of Section 15 of the Money Laundering Prohibition Act.

Dr Bright Ikechukwu Echefu, who is the first defendant was alleged to have defrauded a Senior Advocate of Nigeria (SAN), Turaki Tanimu, of the sum of N960million under false pretence.

The charge indicated that Echefu, while acting as the Managing Director of Briechberg Investment Limited on May 18, 2020, with intent to defraud, obtained the sum of N150 million from Tanimu who is the Managing Director of Kalsiyam Farm as a loan to acquire modern equipment for his telecom company.

The money was said to have been paid into Briechberg Investment Limited account number 1015561485 domicile at Zenith Bank.

On the same day, the defendant was said to have obtained another N380million paid into the same account for the same purpose while another N400million was also allegedly secured by the defendant the same day and for the same purpose from Tanimu who is also the MD of BYI General and paid into the same account.

Still, on the same May 18, 2020, Turaki, while acting as Managing Director of K. T Turake made two payments of N15 million each into the Briechberg Investment Limited bank account belonging to Dr Bright Ikechukwu Echefu for the same purpose.

It would be recalled that Turaki Kabir Tanimu (SAN) was at a time, a Minister of the Federal Republic of Nigeria and was physically present in court during Thursday’s arraignment of the defendants, who pleaded not guilty to all the changes preferred against them.

Sylvanus Tahir (SAN), who led the prosecution team objected to the bail application made by Eyitayo Fatigun (SAN) on behalf of the two defendants.

While Tahir insisted that the accused persons are flight risk having allegedly been evading arrest, Fatigun disagreed and insisted that EFCC itself granted them administrative bail.

In a brief decision, Justice Inyang Ekwo upheld the EFCC bail restrictions, allowing the two defendants to go home.

The Judge, however, ordered that they not leave the country without the court’s consent, and that Immigration be notified of the seizure of their international passports.

He cautioned that any infringement of the bail conditions or absence from court would result in their bail being revoked and their remaining in detention during the trial.

Justice Ekwo directed the EFCC to transmit the record of administrative bail granted to the defendants to the court within seven days and adjourned till July 15, 16 and 17, 2024 for commencement of trial.