EFCC Arraigns Director of Glossalalia Nigeria Ltd and Pelenged Nigeria Ltd, Precious Williams on N13.8 Billion Money Laundering Charges

Strategic Insights -

The Economic and Financial Crimes Commission (EFCC) has arraigned Precious Williams, the director of Glossalalia Nigeria Ltd and Pelenged Nigeria Ltd, before Justice S. I. Mark of the Federal High Court sitting in Port Harcourt, Rivers state capital. Williams is being prosecuted on a 14-count charge bordering on conspiracy, advance fee fraud, obtaining money under false pretence, and money laundering to the tune of N13.8 billion.

Key Takeaways:

  • Precious Williams, the director of Glossalalia Nigeria Ltd and Pelenged Nigeria Ltd, has been arraigned by the Economic and Financial Crimes Commission (EFCC) on a 14-count charge of conspiracy, advance fee fraud, obtaining money under false pretence, and money laundering to the tune of N13.8 billion.
  • The charges include taking possession of N10 billion from Maxwell Chizi Odum and MBA Trading and Capital Investment Limited through Sterling Bank PLC Account No. 0064260799, and N1.0059 billion from MBA Trading and Capital Investment Limited through Polaris Bank PLC Account No. 0139723989.
  • The prosecution counsel, E. K. Bakam, requested a trial date and the remand of the defendant in a correctional center, while the defendant's counsel, Tochukwu Maduka, SAN, prayed the court to grant her bail to enable her to prepare for her trial.
  • The court ruled that the defendant be remanded in the Port Harcourt Correctional Center and adjourned the matter till June 17, 2025 for the hearing of the bail application.
  • The defendant was arrested in April 2021 after a petition alleged that she received money from over 3000 victims via false pretence and laundering the money for personal use.
  • The victims were allegedly lured into investing their hard-earned money, which aggregated to billions of naira, with promises of a monthly 10-15% return on investment.

Statistics:

  • The amount of money laundered is N13.8 billion.
  • The number of victims affected is over 3000.
  • The amount received from Maxwell Chizi Odum and MBA Trading and Capital Investment Limited is N10 billion.
  • The amount received from MBA Trading and Capital Investment Limited through Polaris Bank PLC Account No. 0139723989 is N1.0059 billion.
  • The duration of the unlawful activities is between 2019 and 2020.
  • The trial has been adjourned till June 17, 2025.

Sources:

  • "EFCC Arraigns Director of Glossalalia Nigeria Ltd and Pelenged Nigeria Ltd, Precious Williams before Justice S. I. Mark of the Federal High Court sitting in Port Harcourt, Rivers state capital." (Source: The Port Harcourt Zonal Directorate of the Economic and Financial Crimes Commission (EFCC))
  • "That you, Precious Williams of Glossolalia Nigeria Limited; Pelegend Nigeria Limited, Phenom 413 Events Limited (company representative at large) and Doxasterz Oil and Gas Limited, sometime between the 24th day of August, 2019 and 15th day of February, 2020, at Port Harcourt, within the jurisdiction of this Honourable Court, directly took possession of the sum of Ten Billion Naira (N10,000,000,000.00) only from Maxwell Chizi Odum (still at large) and MBA Trading and Capital Investment Limited (at large) through your Sterling Bank PLC Account No. 0064260799..." (Source: The Port Harcourt Zonal Directorate of the Economic and Financial Crimes Commission (EFCC))
  • "The defendant was arrested when petitioners alleged that she received money from over 3000 victims by false pretence and laundering the money for personal use sometime in April 2021." (Source: The Port Harcourt Zonal Directorate of the Economic and Financial Crimes Commission (EFCC))