The Economic and Financial Crimes Commission (EFCC) has arraigned the Aluminium Smelter Company of Nigeria (ALSCON) Plc over alleged money laundering reporting violations involving transactions worth N582.43 million.
The company was arraigned on Monday before Justice Egwuatu of the Federal High Court, Abuja, alongside its director, Zavyalov Dmitry, who is said to be at large.
The defendants are facing a six-count amended charge marked FHC/ABJ/CR/644/2025 over their alleged failure to report specified financial transactions to the Special Control Unit Against Money Laundering (SCUML), as required by law.
According to the EFCC, the alleged offences contravene provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
The commission alleged that the company failed to report several transfers made from its account between March and July 2024.
The transactions included N147.52 million paid to Udatson Nigeria in March 2024, N156.03 million transferred to the same company in April, N121.43 million in May and N127.34 million in July.
Other transactions listed in the charge were N15.12 million allegedly paid to Urico Global Services in April 2024 and N15 million transferred to Christopher Azogu in June of the same year.
The EFCC said the transactions should have been reported in writing to SCUML under Section 11(1)(b) of the Money Laundering (Prevention and Prohibition) Act.
The prosecution said the alleged offences were punishable under Sections 11(3), 19(2)(b) and 22 of the Act.
When the charges were read in court, ALSCON’s Acting Managing Director, Ime Monday Inyang, pleaded not guilty to all six counts on behalf of the company.
The company’s counsel had urged the court to quash the charges, maintaining that ALSCON was innocent of the allegations.
Following the plea, Justice Egwuatu adjourned the case until January 27, 2027, for the commencement of trial.
The allegations have yet to be established in court.
