EFCC arraigns ALSCON over alleged money laundering offences
Abuja, Oct. 2026 – The Economic and Financial Crimes Commission (EFCC) on Monday arraigned the Aluminium Smelter Company of Nigeria (ALSCON Plc) over alleged money laundering offences involving large sums of money.
The EFCC disclosed this in a statement on Monday.
It said the company was arraigned before Justice O. A. Egwuatu of the Federal High Court in Abuja on a six-count amended charge marked FHC/ABJ/CR/644/2025.
The EFCC alleged that ALSCON and its director allegedly failed to report certain transfers from the company’s account to the Special Control Unit Against Money Laundering as required by the Money Laundering (Prevention and Prohibition) Act, 2022.
It said the transfers were made between March and July 2024, included N147.52 million, N156.03 million, N121.43 million and N127.34 million paid to Udatson Nigeria.
Other transactions listed in the charge were N15.12 million paid to Urico Global Services in April 2024 and N15 million paid to Christopher Azogu in June 2024.
Ekele Iheanacho, the lead counsel of the EFCC, told the court that the alleged offences were punishable under the cited provisions of the law.
Ime Monday Inyang, the Acting Managing Director of ALSCON, however, pleaded not guilty to all six counts on behalf of the company.
The company’s counsel requested the court to quash the charges.
Justice Egwuatu adjourned the case until January 27, 2027 for commencement of the trial.
